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.
Strengths
- Free trading on stocks, options, mutual funds, and ETFs
- Easy to use interface
- Transparent pricing structure
- Special promotions for new customers
Weaknesses
- Not good for traders who need portfolio management advice
- No managed accounts or Robo advisor services
- No desktop platform means it is not ideal for highly active traders
Strengths
- It has been operating since 2001
- Serves clients in many countries globally
- Offers numerous research and analysis tools
- Competitive fee structure
- Choice of multiple trading platforms
Weaknesses
- Does not offer 24/5 customer support
Strengths
- No minimum for opening an account
- Cryptocurrency trading is available
- Trading is affordable
Weaknesses
- Only offers a limited range of instruments
- Limited customer support
Strengths
- There is a low minimum deposit to open an account
- They provide 24/5 customer service access via live chat, phone and email
- The company provides negative balance protection on all but professional accounts
- They are regulated in the U.K. by the Financial Conduct Authority (FCA) and in the E.U. by CySEC
Weaknesses
- The company offers relatively few tradable assets
- They lack a Virtual Private Server (VPS)
- The English language version of their website is written poorly
Strengths
- Widely respected regulation by some of the top bodies in world finance
- A huge catalogue of tradable assets to choose from
- Long experience in the sector and partnership with some of the top trading platforms
Weaknesses
- The broker website is not always easy and clear to navigate
Strengths
- Low trading costs
- Traders can get access to the world market with a GetStocks brokerage account
- Competitive fees and charges
- You can trade socially with the assurance that you cannot lose your money
- No custodian fee is charged
Weaknesses
- Lack of demo account to practice trading before you trade in the real world
- Lack of enough tutorials on how to trade
Strengths
- Boasts of relatively competitive trading fees for both retail and high-volume traders
- Embraces both in-house and advanced third party trading tools
- Is one of the few discount brokerages that offer extended trade hours in the pre- and post-market trade sessions where orders are processed via an ECN
- It’s licensed and regulated by multiple financial agencies around the world
- Presents its clients with multiple flexible and inexpensive account funding options
Weaknesses
- Doesn’t operate fixed spread/commission accounts and fees are variable
- Trader accounts can’t be hosted of the highly versatile MetaTrader platforms
- One may consider the $2,500 minimum account opening deposit quite restrictive
- Specializes in day trading, it doesn’t expose its clients to the all-popular forex and crypto markets
Strengths
- Low fees if you are an active trader
- Great quality of customer support
- Top-quality trading platforms
- Strong education center
- Client funds are very well protected
Weaknesses
- Specially designed to cater to institutional traders and extremely active high-volume day traders
- The minimum $4.50 charge proves too expensive for casual and infrequent traders
- Limited funding options
- Limited funding options
Strengths
- Perfect for investors with large account balances
- Huge mutual fund selection and low-cost ETFs
- Leader in low cost funds
Weaknesses
- Not friendly for beginners or for active traders
- High trading commission
- Limited data and research facilities available
Strengths
- Caters well to Forex traders
- Competitive spreads
- Variety of account types
- Good selection of payment methods
- Copy-trading feature
Weaknesses
- Has smaller range of asset classes than competitors
