Earnex liquidity research
Liquidity provider quality showcase
13 providers · 10 benchmark instruments · 1 lot(s) · 1-day hold · relative ratings
Provider league table
Scores are relative within each instrument: 100 = best quote in the peer set. Coverage shows how many benchmark instruments each provider prices.
| # | Provider | Rating | Grade | Score | Coverage |
|---|---|---|---|---|---|
| 1 | Polaris Capital Markets Ltd | ★★★★☆ | B | 75 | 5/10 |
| 2 | VS Capital Limited | ★★★★☆ | B | 70 | 10/10 |
| 3 | Scope Prime | ★★★☆☆ | C | 68 | 8/10 |
| 4 | Vantage Prime | ★★★☆☆ | C | 66 | 8/10 |
| 5 | FXCM / Stratos | ★★★☆☆ | C | 65 | 10/10 |
| 6 | Startrader Financial Markets Limited | ★★★☆☆ | C | 60 | 10/10 |
| 7 | Finalto | ★★★☆☆ | C | 58 | 10/10 |
| 8 | VT Markets (Pty) Ltd | ★★☆☆☆ | D | 48 | 10/10 |
| 9 | Vantage Markets (Pty) Ltd | ★★☆☆☆ | D | 40 | 10/10 |
| 10 | Advanced Markets | ★★☆☆☆ | E | 39 | 7/10 |
| 11 | Alchemy International Ltd | ★☆☆☆☆ | E | 23 | 10/10 |
| 12 | FxPro Markets Ltd. | ★☆☆☆☆ | E | 21 | 7/10 |
| 13 | GNT Capital Ltd. | ★☆☆☆☆ | E | 20 | 7/10 |
Instrument rating grid
Long side · blank cells mean the provider does not price that instrument or the data is not comparable.
| Provider | AAPL | BTCUSD | DAX | ETHUSD | EURUSD | GBPUSD | MSFT | OIL | US30 | XAUUSD |
|---|---|---|---|---|---|---|---|---|---|---|
| Polaris Capital Markets Ltd | — | — | A · 92 | — | — | E · 27 | — | B · 82 | A · 100 | B · 75 |
| VS Capital Limited | A · 100 | C · 56 | E · 25 | C · 67 | C · 64 | C · 55 | B · 75 | A · 100 | B · 73 | B · 83 |
| Scope Prime | D · 50 | — | A · 100 | — | B · 82 | C · 64 | D · 50 | C · 55 | A · 91 | D · 50 |
| Vantage Prime | — | D · 44 | C · 67 | B · 78 | B · 73 | B · 82 | — | B · 73 | C · 55 | C · 58 |
| FXCM / Stratos | E · 38 | A · 100 | B · 83 | E · 33 | A · 100 | A · 100 | E · 0 | E · 18 | B · 82 | A · 100 |
| Startrader Financial Markets Limited | E · 25 | E · 33 | B · 75 | A · 89 | A · 91 | A · 91 | E · 38 | D · 45 | D · 45 | C · 67 |
| Finalto | C · 63 | C · 67 | D · 50 | A · 100 | C · 55 | E · 36 | C · 63 | C · 64 | E · 36 | D · 42 |
| VT Markets (Pty) Ltd | A · 88 | B · 78 | E · 17 | D · 44 | D · 45 | B · 73 | A · 100 | E · 27 | E · 0 | E · 8 |
| Vantage Markets (Pty) Ltd | A · 88 | A · 89 | E · 33 | C · 56 | E · 9 | E · 9 | A · 100 | E · 0 | E · 18 | E · 0 |
| Advanced Markets | — | E · 11 | C · 58 | E · 0 | E · 36 | — | — | E · 9 | C · 64 | A · 92 |
| Alchemy International Ltd | E · 13 | E · 0 | E · 8 | E · 22 | E · 36 | E · 18 | E · 13 | A · 91 | E · 9 | E · 17 |
| FxPro Markets Ltd. | E · 0 | — | D · 42 | — | E · 18 | E · 0 | E · 25 | E · 36 | — | E · 25 |
| GNT Capital Ltd. | — | E · 22 | E · 0 | E · 11 | E · 0 | D · 45 | — | — | E · 27 | E · 33 |
Methodology
- Every provider quote is normalised to a common USD cost per trade using instrument reference price, contract size and point size, so different lot conventions compare like for like.
- All-in cost = spread cost + commission + financing (swap/roll) for the selected holding period. Swaps are shown as costs: positive means you pay.
- Missing data is never treated as zero. An instrument a provider does not price is excluded from its score and reflected in the coverage count.
- Ratings are relative positions within each instrument's peer set; underlying cost levels are not disclosed.