Broker Reviews Overview
Choosing the perfect broker for you is an important first step on your trading journey. Like a good pair of gloves, your broker of choice should be a suitable fit for you. But with so many brokers out there today, where do you start?
Here at AskTraders, our expert team of trading professionals has taken care of all the hard work for you. We’ve reviewed and ranked our trusted broker partners to save you hours of research.
Along the way, we’ve looked at everything from account types and features, to trading fees and FCA regulation and condensed all of this information into a handy snapshot overview.
1st
Moneyfarm
Strengths
- Fully-automated investment service
- One of the largest robo-advisors
- Tailored investment and saving strategies
- Good mobile app
- UK office with FCA regulation
Weaknesses
- Lacks 24/7 customer support
- Cannot trade in or manage your own portfolio
- Missing an ethical investing option
- No demo account
2nd
Personal Capital
Strengths
- Automated investment management with human advisors
- Tax optimization strategies
- Customized portfolio
- Financial decision support
- Custom allocation of assets
Weaknesses
- High management fees
- The minimum investment is $100,000 which rules out many inventors
- Asset allocation is not customizable
- Budgeting tool is available on the mobile app but not within the website
3rd
ForexTB
Strengths
- No trading commissions
- No fees on deposits
- 24/5 customer support
Weaknesses
- Limited amount of asset classes
- High minimum deposit on premium accounts
- No bonus offered
4th
Cryptology
Strengths
- Great cryptocurrency support
- Transparent fee and pricing structure
- Great referral programme
- Competitive pricing structure
- Solid performance through the browser-based trading platform
Weaknesses
- No support for financial instruments beyond cryptocurrencies
- Relatively high withdrawal fees on wire transfers
- No pro features available
5th
Tickmill
Test Tickmill
66% of retail CFD accounts lose money
Full Review
Strengths
- Regulated by the FCA
- More than 200 million trades
- Nice range of assets
Weaknesses
- No ability to choose a trading platform
- No 24/7 customer support
66% of retail CFD accounts lose money
6th
Scalable Capital
Strengths
- Fully-automated investment service
- Account backing by BlackRock
- Robust risk management technology
- Pricing is transparent and straightforward
- Uses ETFs to keeps costs affordable
Weaknesses
- High minimum deposit of £10,000
- Better fees elsewhere
- No telephone support on weekends or overnight
- Reduced control over investments versus managing your own portfolio
7th
DEGIRO
Open Account
Investing can be rewarding but it is not without risk. You can lose (a part of) your deposit.
Full Review
Strengths
- Some of the lowest costs in the sector
- A large selection of markets and financial instruments
- Great desktop and mobile platform
Weaknesses
- Limited analysis tools
- Only bank transfers can be used to add and withdraw funds
Investing can be rewarding but it is not without risk. You can lose (a part of) your deposit.
8th
Fineco
Open Account
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.14% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Full Review
Strengths
- Fully regulated
- Competitive fees
- Wide range of instruments
- Excellent trading platform
- No minimum deposit
Weaknesses
- No MetaTrader platforms
- No cryptocurrencies
- Only bank transfers to fund the account
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.14% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
9th
Nutmeg
Strengths
- Fully-automated investment service
- UK firm regulated by the FCA
- Top managed portfolios based on a large range of ETFs
- Cost-efficient and transparent pricing structure with discounts for higher balances
- Friendly and reliable customer service
Weaknesses
- Cannot trade in your own portfolio
- No telephone support at night or on weekends
- Reduced control over investments versus managing your own portfolio
10th
CEX.IO
Strengths
- Their transparent pricing structure for all products
- They have fast approval times for account opening and identity verification
- They provide quick access to digital coins
Weaknesses
- High fees for deposits with credit card
