Broker Reviews Overview

Updated: 28 October 2020

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.


AskTraders broker reviews Ranking (117)

21th

Tickmill

Trader Rating
Open Demo Account Full Review
Strengths
  • Regulated by the FCA
  • More than 200 million trades
  • Nice range of assets
Weaknesses
  • No ability to choose a trading platform
Note: 76.4% of Forex retail accounts lose money
22th

Fidelity

Trader Rating
Open Demo Account Full Review
Strengths
  • Huge selection of financial instruments to choose from
  • Competitive fee structure
  • Quality proprietary trading platform
  • Very security conscious platform
Weaknesses
  • The proprietary trading platform is not accessible straight away
Note: 76.4% of Forex retail accounts lose money
23th

Interactive Investor

Trader Rating
Open Demo Account Full Review
Strengths
  • Up-to-date financial information for traders
  • Stress-free methods of payment
  • Accessible customer support services
  • Online app for mobile trading
  • Wide access to global markets
Weaknesses
  • No demo account for inexperienced traders
  • Lack of tutorials for self-learning
  • Reflection of payment is not instant for traders
Note: 76.4% of Forex retail accounts lose money
24th

Hargreaves Lansdown

Trader Rating
Open Demo Account Full Review
Strengths
  • The company's website is easily understandable and accessible to a wide range of customers
  • There is a provision of training materials for traders who invest in the company
  • There is also the benefit of diversification of investment. This offers the customers an express range of choices of investment and trade
  • The terms and conditions of the company are well understood and not ambiguous
  • The trading fee gets lower for frequent traders
Weaknesses
  • Account opening offline for clients outside the UK
  • No adequate saving plans for the customers
  • Only GBP base currency
Note: 76.4% of Forex retail accounts lose money
25th

Fineco

Trader Rating
Open Demo Account Full Review
Strengths
  • Fully regulated
  • Competitive fees
  • Wide range of instruments
  • Excellent trading platform
  • No minimum deposit
Weaknesses
  • No MetaTrader platforms
  • No cryptocurrencies
  • Limited account types
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.
26th

CCTrader

Trader Rating
Open Demo Account Full Review
Strengths
  • They are an award-winning trading platform
  • Well-established company
  • Simple deposit and withdrawal methods
  • Has access to customer service via live chat, phone and web form
  • The minimum deposit is $0 unless you ask for a secure key
Weaknesses
  • They do not accept Paypal deposits
  • No demo trading available
Note: 76.4% of Forex retail accounts lose money
27th

IQ Option

Trader Rating
Open Demo Account Full Review
Strengths
  • Low CFD fees
  • User-friendly trading platform
  • Easy account opening process
  • Low trading fees
  • Low minimum deposit
Weaknesses
  • Inactivity fee
  • Limited of educational resources
  • No support for MT4/MT5
Note: 76.4% of Forex retail accounts lose money
28th

Skilling

Trader Rating
Open Demo Account Full Review
Strengths
  • The platform is easy to use for every type of traders from amateurs to professionals
  • Over 3,000 financial instruments to trade
  • Leverage above 1:30 available to professional traders
  • Transparent trading fees
  • You can open a live trading account for £100
Weaknesses
  • Available for just three years now so no real track history to support them
  • The cost of spreads is higher than other services in the market
  • The MT4 platform is not supported, it created its own web-based platform
Note: 76.4% of Forex retail accounts lose money
29th

AJ Bell Youinvest

Trader Rating
Open Demo Account Full Review
Strengths
  • Many free services are available, services that usually require payment on other platforms
  • FCA regulation ensures clients are under FSCS cover
  • Low trading costs
  • There is no minimum deposit for opening an account
Weaknesses
  • Lack of a demo account for practice is a significant drawback
  • Payment channels are restricted
  • Fewer ETFs than other brokers
Note: 76.4% of Forex retail accounts lose money
30th

Charles Stanley Direct

Trader Rating
Open Demo Account Full Review
Strengths
  • An excellent reputation in the financial space
  • The trading platform is well-suited to beginner investors
  • Great customer support team
  • A wide range of different account types
Weaknesses
  • High fees
  • No educational resources
  • Research offering is not great
Note: 76.4% of Forex retail accounts lose money