Updated: 20 May 2021


AskTraders broker reviews Ranking (32)

11th

Webull

Trader Rating
Strengths
  • Zero commissions
  • User-friendly platform
  • High-grade analytical tools
  • Cryptocurrency trading
Weaknesses
  • Limited entry-level educational material
  • No mutual funds or bonds
Note: 76.4% of Forex retail accounts lose money
12th

Lightspeed

Trader Rating
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
Note: 76.4% of Forex retail accounts lose money
13th

TD Ameritrade

Trader Rating
Strengths
  • $0 commissions available
  • More than 40 years of experience
  • Multiple platforms to choose from
Weaknesses
  • Broker-assisted trade fees are high
Note: 76.4% of Forex retail accounts lose money
14th

Generic Trade

Trader Rating
Strengths
  • Highly competitive fees and commissions
  • Maintains a simplistic and relatively easy to use website
  • Presents traders with more than six types of trading accounts
  • Generic trade doesn’t maintain the common trade and account restrictions like minimum deposit, operating balance and inactivity fees
  • Highly transparent with its client engagements, especially when it comes to fees and safety of deposits
Weaknesses
  • You can only trade futures and not any other financial instruments like FX or shares with Generic trade
  • Generic trade doesn’t have an auto trader and its trader platforms won’t support integration with a third party auto trader
  • Generic trade doesn’t have an auto trader and its trader platforms won’t support integration with a third party auto trader
  • No educational or research materials on their website to help with decision making
Note: 76.4% of Forex retail accounts lose money
15th

Interactive Brokers

Trader Rating
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
Note: 76.4% of Forex retail accounts lose money
16th

Coinbase

Trader Rating
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
Note: 76.4% of Forex retail accounts lose money
17th

Fidelity

Trader Rating
Strengths
  • It offers a vast range of products
  • All customers can access Active Trader Pro
  • It offers strong customer support
Weaknesses
  • Those who are not U.S. citizens or residents cannot open accounts
  • You may need to rely on multiple platforms
Note: 76.4% of Forex retail accounts lose money
18th

Firstrade

Trader Rating
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
Note: 76.4% of Forex retail accounts lose money
19th

TradeStation

Trader Rating
Strengths
  • A long history is the industry means the have craftred a well-trusted reputation
  • The platforms are recently redesigned and have a very intuitive feel
  • Pricing and fees from the broker are typically competitive
Weaknesses
  • The minimum deposit can seem a little on the high side for some traders
  • Customer support availability times could be improved on
Note: 76.4% of Forex retail accounts lose money
20th

LocalBitcoins

Trader Rating
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
Note: 76.4% of Forex retail accounts lose money