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Every exchange, broker, wallet, and instant swap service reviewed by us receives a score ranging from 1 to 10 across various criteria, along with an overall score. These scores are editorially determined by our editors based on publicly available information about each provider. They represent opinions, not investment guidance.
We check the facts next to the scores, such as fees, the number of coins, licenses and where a service is available, against the provider's own pages and public registers. We record each fact we check with its source and the date of the check.
We earn commissions through some of our links, and partnerships can influence which providers we feature and where they appear. Visitor reviews, displayed as stars out of 5, are distinct from our scores.
Each exchange and broker review is broken down into six sub-scores from 1 to 10. Here's what each sub-score covers and which facts in the review pertain to it.
This evaluates the ease of daily platform use, including account setup, interface clarity and modernity, and the speed at which primary functions can be located. The review fact associated with this is the account opening duration.
This covers the platform's offerings, from spot trading to derivatives, margin, staking, savings plans, and tools for active traders. Related facts include the number of cryptocurrencies, feature overview, tradable assets, and trading options.
This examines the cost of trading and its form. We analyze the level and type of fees, such as maker and taker fees or spreads, as well as costs that might be overlooked. Related facts are the trading fee for a new account and the Bitcoin withdrawal fee. Our fee table presents these side by side.
This reflects the platform's public signals of user protection, including security features like two-factor authentication, certifications, audits, the company behind the platform, its reputation, and track record. Related facts include two-factor authentication, deposit protection, the operating company, and its headquarters.
Licenses and registrations are listed as facts in each review. Under our editorial policies, they are not included in the scores, so check them directly if regulation is a concern for you. If you reside in the US, our list for US customers shows which exchanges operate in which states.
This measures how straightforward it is for someone new to crypto to begin, starting from account opening to making an initial purchase and locating main functions. Related facts include the platform's suitability, minimum deposit, and payment methods.
How good customer support is and how easy it is to reach. To keep this rating balanced, we also take into account what users report on other platforms, such as app stores and review sites.
The overall score of an exchange or broker is our editorial judgement of the platform as a whole. It draws from the six sub-scores but is not their average and has no fixed weights.
On most exchange and broker reviews, the overall score is higher than the plain average of the six sub-scores, by up to 1.5 points.
For wallets, the overall score is the plain average of the six sub-scores, rounded to one decimal place. For instant swaps, it stays close to the average of the seven sub-scores but is not tied to it: the largest gap is 0.4 points.
Scores change only by an editorial decision. When a fact we record contradicts a score, for example after a fee increase, we log it for that decision. A new fact never changes a score on its own.
Wallet reviews also feature six sub-scores: operation, functions and scope, supported assets, security and trust, beginner friendliness, and support. Supported assets covers the number of coins and tokens a wallet manages and the types of assets, like NFTs. Related facts in a wallet review include whether the code is open source, whether you hold the private keys, the secure element, the backup method, and the price.
Instant swap reviews score seven criteria: anonymity, user interface, refund policy, transaction speed, customer service, features, and fees. Anonymity reflects the amount of personal information a service requests, and the refund policy outlines what happens if a swap fails or is halted.
We check facts at primary sources: the provider's own fee schedules, terms of use, help pages and announcements, and the public registers kept by regulators. We store each fact we check with its source, a short quote and the date of the check. When we change a value on the site, we keep the old value, the source and the check date in a change log.
A few rules apply across the site:
Facts that change often, such as fees, availability, status and coin counts, count as current for 30 days. Company facts, such as the founding year or the headquarters, count as current for 180 days. Before we write or revise a review or a comparison, we check any older fact again at the source. Network fee estimates are fetched again on the day we update a page.
Before we mark a closure, a pause or a limit on a review, we confirm the change at a primary source. The Updated on line of a page indicates when we last revised it.
When a provider's status changes, its review displays a brief status line under its name: Closed, Closing, Paused, or Restricted for exchanges, and Discontinued for wallet models no longer sold. Open the details to see what changed, the date we checked it, and, if available, the source.
A closed or closing exchange exits every ranked list on Exchange Flow. Its review remains online as a record, without a sign-up bonus or partner link, and its visit button directs to the status details instead of the provider. Its last scores remain visible for reference. Paused and restricted providers stay in our lists, and their reviews carry the status line, so you can see the limits before you sign up. Discontinued wallets maintain their review, marked as discontinued.
Exchange Flow is free to read. We earn money when you open an account through some of our links, because the provider may then pay us a commission. Not every provider pays us, and some of our links go to the provider's site without a partner code.
Partnerships can influence which providers we feature and where they appear. Our editors set the scores. Our Advertiser Disclosure explains how our partner links function.
Our ratings are not investment advice. Crypto assets are volatile, and you can lose money. Please consider our reviews as one source among several. Our Risk Disclaimer contains the details.
Our reviews and comparisons are written and edited by the Exchange Flow editorial team. Meet Ethan Parker, our Senior Content Editor, and Juli Miller, our Technical Writer and Editor.
If you spot an error or an outdated figure, write to [email protected]. We check a report against the primary source before we change anything.