1st
eToro
Strengths
- Easy to buy crypto
- No fees for deposits or withdrawals
- Lots of cryptos to choose from
2nd
Coinmama
Strengths
- Extremely easy to use
- You do not hold any tokens or funds on the Coinmama site
- Good selection of popular cryptocurrencies
- 24/7 email support
- Ability to buy cryptocurrencies using credit or debit cards
Weaknesses
- High trading fees
- High credit card/debit card fees
- No phone or live chat support
3rd
Forex.com
Strengths
- Provides traders with an expansive range of tradable instruments
- Features a huge selection of education and research materials
- Supports multiple trading platforms including MetaTrader and WebTrader
- Makes it possible for traders to choose between standard and commission accounts
- Boasts of relatively trading fees compared to most other U.S based brokers
Weaknesses
- The maximum leverage isn’t available to all the trading instruments
- Its WebTrader platform if fairly rigid and not easily customizable
- Forex.com trading platforms feature limited fundamental analysis tools
- Doesn’t support binary options for futures traders
4th
Coinbase
Strengths
- Very well-designed and easy to use
- Offers opportunity to learn about cryptocurrencies
- Referral links allow users/influencers to earn with the platform
- Well-regulated and protected
- High liquidity
Weaknesses
- Not so good customer support
5th
OANDA
Strengths
- More than 70 forex pairs
- Demo available
- MarketPulse offers excellent news information
Weaknesses
- U.S. clients can only trade forex (offers spot crypto via PAXOS)
6th
IG
Open Demo Account
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.
Full Review
Strengths
- Quality trading platforms, including a ProRealTime integrated browser-based trading interface
- Low spread, especially on major pairs
- Regulated by major US regulatory commissions
- Strong demo account provisions — desktop and mobile
Weaknesses
- Limited to one live account type
- No conventional social trading provisions via IG platform
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.
7th
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
8th
TD Ameritrade
Strengths
- $0 commissions available
- More than 40 years of experience
- Multiple platforms to choose from
Weaknesses
- Broker-assisted trade fees are high
9th
LocalBitcoins
Strengths
- A lot of privacy features
- Escrow feature is utilized when trading
- There is a reputation system in place for users
- Wide range of payment options
Weaknesses
- There can be scams if you are not careful and complete your due diligence
- Slow customer support
- Costs a lot to buy Bitcoins in cash
10th
Interactive Brokers
Strengths
- Interactive brokers recently launched the commission-free trading platform for stocks and ETFs
- The broker website features a dedicated section of in-depth research and market analysis reports
- IB presents a trader with more tradable instruments than most other electronic brokers
- IB grants its clients access to over 120 markets in 30+ countries across the world
- The broker is hailed for its low trading fees – especially for margin traders
Weaknesses
- One may consider both the company website and professional trader platforms rather complex
- It is biased towards professional traders and imposes restrictive minimum commissions and activity fees on small-holder accounts
- The broker maintains a complex pricing structure
- The broker calls for high minimum deposits and operating balances that often lock out retail traders
