How I Review Every Exchange
Every score on this site comes from the same 50-point rubric applied to the data each exchange publishes. Figures I cannot verify are left out instead of estimated. Here's exactly how it works.
Published Data Only
Scores use data the exchange publishes (fee schedules, security reports, regulatory status), shown with its source and check date.
No Pre-Publication Access
Exchanges never see reviews before they go live. No opportunity to influence scores.
No Pay-to-Rank
Affiliate commissions are disclosed but never factor into the score. High-paying programs get low scores when the data says so.
The 50-Point Scoring System
Each exchange is scored across 6 categories totaling 50 points. The final star rating (1–5) is mapped from the total score. No single category can single-handedly make or break a review.
Fees & Costs
- Maker fee (spot and derivatives)
- Taker fee
- Withdrawal fees vs. competitors
- Fee discount tiers (VIP, native token)
Liquidity & Volume
- 24h derivatives volume (CoinGecko verified)
- Order book depth at 0.1% spread
- Slippage on $50K market order
- Number of active futures pairs
Security
- Cold storage ratio (disclosed vs. estimated)
- History of hacks or fund losses
- Insurance / SAFU fund existence
- 2FA options, withdrawal whitelisting
UX & Platform
- Web platform usability (tested on 1920px)
- Mobile app usability and stability
- Order types available (limit, market, TP/SL, conditional)
- Chart tooling (TradingView integration)
Support Quality
- Live chat response time (measured, not estimated)
- Resolution rate on first contact
- Ticket escalation path
Regulation & Access
- Regulatory licenses held
- Countries restricted (US, EU, UK)
- KYC requirements vs. access level
Score-to-Rating Conversion
The Review Process
Every review follows the same six-step process. No shortcuts, no cherry-picking conditions.
Collect Published Data
Gather fee schedules, leverage limits, KYC requirements, security disclosures and regulatory status from the exchange's own pages and documents.
Record Source and Date
Store each figure with its source and the date it was checked. These appear in the Key Facts table of every review.
Compare Side by Side
Place the data next to competing exchanges in the same category (futures, options, copy trading) so scores reflect relative strengths.
Flag What Is Unverified
Where a figure has not been verified, the page says so instead of filling in a number.
Apply the Scoring Rubric
Apply the 50-point rubric with fixed weights across six categories. Affiliate status plays no part in the score.
Score & Publish
Publish the review with the check date and the full scoring breakdown, and update it when the underlying data changes.
Affiliate Disclosure
Some exchange links on this site are affiliate links — I earn a commission if you sign up and trade. Commissions are disclosed on each review page and are never factored into scores. Several exchanges with high affiliate payouts receive below-average scores because that's what the data shows. Read our full affiliate disclosure.
Questions about a specific review?
Reach out and I'll explain exactly how a score was calculated.