Best Trading Brokers
Richard Montana | August 2, 2022
A trading broker is an intermediary between those who want to make trades and invest and the market in which those trades are processed. You will need a broker if you want to buy and sell financial instruments online such as forex, stocks, indices, commodities and cryptocurrencies.
Choosing from the many online brokers is one of the most important decisions for all traders and investors who wish to be successful. It is of paramount importance that you look for brokers that are trusted, established and provide an excellent range of trading products and financial services.
With so many brokers providing online trading services to clients across the globe, you can be selective on which brokerage you opt to use depending on your own individual requirements. To help both retail and institutional traders of all expertise levels find the best trading brokers according to their own needs, we have compiled this handy trading brokers guide.
Top 10 Trading Brokers
Here you will find our best trading brokers, based on thousands of hours of extensive research, testing and analysis across hundreds of brokers. Upon conclusion of each of our broker reviews, we have assigned each broker with a rating.
Some of the most important factors that contribute towards a good broker for trading online have been considered including things such as the available financial instruments, platforms, apps, tools, spreads, execution, liquidity, fees, education, funding options, regulation, customer service and more.
Each of our chosen trading brokers have undergone and passed our stringent broker reviews with flying colours, based on what we consider to be amongst the most important considerations when choosing a trading broker. These brokers are well-established within the online trading industry, providing top trading conditions to traders and investors of all experience levels.
Having the best trading brokers according to our findings listed in one place, can help you save time when looking for the best trading broker for your own individual needs.
ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA
AvaTrade get a top position in our best brokers list. This brokerage provides a great range of online trading products and services to many clients across the globe. They process a monthly trading volume in the billions, making them one of the largest online brokers. I have had an account with them for many years and have never been disappointed with their services.
AvaTrade is an award-winning online brokerage that has offices located in multiple countries and offer 24/5 support in 14 languages. They have some of the best available online trading conditions, with reliable execution speeds, tight spreads and no commission fees. I think they can be suitable for anyone who is looking to get quick and easy access to the markets with minimal fuss.
They have one of the largest selections of trading instruments available from any online broker, providing traders with hundreds of financial instruments across different markets to trade online, including forex, CFDs and cryptocurrencies. There are a range of free trading platforms to choose from, suitable for all different experience levels and style of trader.
In addition to a vast range of investment products, AvaTrade also provides traders with a wide range of sophisticated trading tools to assist with trading and educational materials to help improve trading knowledge and skills. Whatever your experience level, they have the resources to help you learn more about the markets and make informed trading decisions.
AvaTrade is authorised and regulated across multiple continents by some of the top regulatory authorities. This impressive array of regulation helps to show they are a secure and reliable online broker that must abide to the rules and regulations set out to protect investors. I personally do not have any problems trusting them as they are one of the most well-regulated brokers that I have come across.
Their huge sponsorship deals over the years help to emphasise the global strength of the AvaTrade brokerage brand within the online trading industry.
Overall, if you are looking for a great selection of trading instruments on user-friendly platforms with very competitive conditions, then AvaTrade are certainly one of the best brokers for you to consider.
IG earn a well-deserved spot in our best online brokers list. Founded way back in 1974, IG are regulated in multiple jurisdictions and one of the largest trading brokers in the world. They offer clients online trading on a huge selection of more than 18,000 trading instrument across multiple asset classes including Forex, Stocks and CFDs. There is something for everyone to trade and build a diversified portfolio, regardless of your interests.
The broker has a great choice of powerful yet user-friendly platforms for desktop, web and mobile devices. These platforms include an abundance of trading tools to assist with in-depth market analysis and trade management. In addition to the tools built-in the platforms, IG provide some premium standalone trading tools free of charge and educational materials such as trading guides and tutorial videos. There is everything you need to learn more about the markets and improve your trading strategies.
IG have very favourable online trading conditions which includes low commission fees and deep liquidity pools to help ensure tight spreads with fast trade execution speeds and minimal slippage. There is a variety of different trading account types to suit the needs of individual clients along with convenient account funding options. Excellent customer support is on hand 24 hours a day via email, online chat and telephone. I have always found them an absolute pleasure to deal with.
Overall, I think IG are an excellent choice of broker for anyone who is looking to get access to a wide range of financial instruments on professional platforms with advanced tools and top trading conditions via one of the best stock brokers in the industry.
Pepperstone are one of the most popular online brokers for many reasons. The Pepperstone Razor account offers some of the best trading conditions available to retail traders, including forex spreads from just 0.0 pips. We consider them to be one of the best forex brokers if you are looking for low fees, tight spreads and reliable execution speeds.
Pepperstone offer a good variety of trading instruments across global markets including forex, commodities, stocks and cryptocurrencies. These assets are available to trade via flexible, powerful and user-friendly online trading platforms for desktop and mobile devices. It is great that you can access and manage your account from anywhere at any time, provided you have an internet connection.
Pepperstone are authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities and Investment Commission (ASIC). This strict regulation can give traders protection and peace of mind that they are using a safe and secure online broker. I consider this to be top-tier regulation and therefore are happy to trust the broker with my account. I have not had any issues in the many years that I have held an account with them. All withdrawals have been processed in a timely manner.
Pepperstone have also won multiple online broker awards over the years, including awards for customer service, client satisfaction, value for money and more. I think these are well deserved and consider them to be one of the best brokers for trading and investing online due to the diversity of their products and top-quality brokering services that they provide to clients of all experience levels. They have the technology and infrastructure to cater for both retail and institutional traders alike.
We have included IC Markets in our best online brokers list as they are an established and regulated brokerage with top class trading conditions. They operate using the electronic communication network (ECN) brokerage model with over 50 liquidity providers (LPs). This means that they are able to provide traders with tight spreads and quick trade execution speeds at the best available prices. I have always found them to be a top broker for trading forex using automated strategies.
The broker offers a choice of the popular MetaTrader 4, MetaTrader 5, and cTrader platforms. Trading on the go is possible via the mobile trading apps. Traders can choose from thousands of instruments across multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds and CFDs. You have everything you need for manual or automated trading with excellent conditions.
In addition to an innovative trading environment, IC Markets has a selection of account types for various client needs, a generous choice of account deposit and withdrawal methods, trading tools, educational materials and multilingual support 24/7 via phone, chat and email.
I think they can be a good choice of broker for anyone who is looking to trade CFDs in a regulated environment with user-friendly platforms and lots of tools to help find potential trading opportunities. I have held multiple accounts with them over the years and consider them to be one of the best brokers all round. I particularly like how quick support is to respond and have always had my withdrawals processed without unnecessary delays.
XM Group deserve a place in our list of best online brokers. We consider them to be a trusted and reputable online broker. They provide online trading to most countries worldwide with prompt and efficient customer service that is available in over 30 different languages.
XM Group is authorised and regulated by the Australian Securities and Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC). They are also regulated in other jurisdictions. These regulations help to give traders peace of mind that they are using a trusted and secure online broker who will keep client funds safe.
XM Group serves millions of online traders across the globe, providing them with industry leading online trading conditions and some of the best trading platforms. They have a vast amount of trading instruments across multiple markets to trade online, including forex, CFDs and cryptocurrencies.
This brokerage has fast execution speeds and low spreads due to their best execution policy and relationships with multiple liquidity providers. They also implement a no-requotes and no extra commissions policy. This help to ensure you get the best prices available and save on overall trading costs. The XM Zero account has the lowest spreads and charges a very competitive commission for each trade.
I have had an account with XM Group for many years now and have never had any problems. The trading conditions are some of the best you will find anywhere and support has always been quick to respond to my queries. I also haven’t had any issues with making withdrawals. Therefore, I think they are one of the best brokers for trading online whether you are a beginner or seasoned trader.
City Index is a one of the world’s leading trading brokers offering over 12,000 markets to traders worldwide. They have over 35 years of experience, offering fast and reliable trade execution speeds and tight spreads. They have some of the most advanced trading platforms and tools whilst there is also an abundance of educational materials for traders of all experience levels. I personally consider them to be amongst the best brokers and wouldn’t hesitate to use them for my daily trading activities.
OANDA is a multi-regulated and established online broker offering an excellent range of financial instruments to clients worldwide via powerful and user-friendly trading platforms with industry leading trading conditions and a superb selection of premium trading tools for market analysis. There is no minimum deposit required so they can accommodate individual, corporate and international traders alike. Overall, I am super impressed with so many aspects of OANDA and the brilliant range of trading products and services that they provide.
Markets.com is a regulated broker that provides clients with a large range of trading instruments on powerful yet user friendly platforms, with tight spreads, rapid execution speeds, low commissions, various funding options and excellent 24/5 support. If you are new to trading then they have the educational content and demo accounts to help you get up to speed. They have been an industry leading brokerage firm for many years now and it is easy to see why.
eToro is a leading social trading platform offering flexible methods of investing in a wide range of assets and copying other traders. The eToro platform is very intuitive with a vast collection of analytical tools and convenient funding options. I feel they are very beginner friendly with all of the resources that you would need to get started, including plenty of educational content and demo accounts.
Founded in 2008, Plus500 is a regulated and leading online trading broker providing a large range of 2,000+ CFD instruments for trading on their simple and clean proprietary trading platforms with very competitive trading conditions. The fact that they have been around for so long and continue to innovate, shows that they are one of the best brokers out there.
Trading Brokers Guide
What is an Online Trading Broker?
An online trading broker is an intermediary who buys and sells trading instruments on behalf of its clients for a commission fee and/or spread mark up. They allow individual online traders access to trade the previously inaccessible markets through online trading platforms that they provide. In addition to providing an online brokerage account and trading platform, trading brokers can also offer other trading services such as educational resources, trading tools, market analysis, trading apps, social trading platforms and more.
There are hundreds of trading brokers located throughout the world with differing trading products and services. With so many trading brokers to choose from, it is very important to check if the brokerage is regulated and offers the online trading services that you require. We have a comprehensive database of trading broker reviews to help you identify some of the best trading brokers according to our detailed research.
It is useful to know the difference between the types of online trading brokers. There are trading brokers who are market makers and others who are ECN/STP brokers. Market makers will usually not charge a trade commission but will take the opposite side of client trades and add a mark-up to the spread to cover brokerage costs. On the other hand, an ECN/STP trading broker will usually provide raw spreads that come directly from liquidity providers (LP’s) and charge a commission for trading online to cover their costs. To summarise, a non-market maker broker is usually preferable to most online traders as the costs can work out cheaper in the long run without the potential conflict of interest.
You will find that the best trading brokers usually offer a variety of different markets for trading online including forex, stocks, indices, commodities, energies, precious metals, bonds, ETFs, cryptocurrencies and more. Online forex trading and stock trading is very popular amongst traders. Forex and stocks can be traded as contract for differences (CFDs) which enables traders to speculate on the rising or falling prices of fast-moving global financial markets without actually owning the underlying asset.
The minimum deposit required to trade online varies depending on the trading broker. Some brokerages require a minimum deposit of just $1 for online trading whilst other require larger deposits of $200 or more to start using their trading services. Most trading brokers will also offer a free demo trading account if you wish to try out the different platforms available and practice your trading strategies before opening a real trading account.
Choosing a Trading Broker
The trading brokers research team have many years of experience testing, studying and analysing hundreds of online trading brokers. We have reviewed each broker and assigned them a rating according to our findings of what we consider to be amongst the most important factors when choosing the best brokers for trading online.
When choosing the best trading broker for your online trading needs, there are a number of things to consider. This ranges from the online trading services provided by the brokerage along with the regulations that they have in place which can help to offer investors protection and give them peace of mind. Here we will look at some of the key points for you to consider when looking for the best trading brokers.
A reputable trading broker is likely to be regulated by an established and well-respected regulatory authority such as the FCA, ASIC or CySEC. Regulation can provide you with additional protection that you would not get from an unregulated broker. You can check if a trading broker’s regulation is valid and up to date by locating their license number on the brokerage website and looking the number up with the relevant regulatory authorities.
Each trading broker will offer a choice of trading platforms for you to use to trade online with. Most brokers will offer the MetaTrader platform which is one of the most popular platforms for traders of all experience levels. It is considered amongst the best trading platforms due to its user-friendly interface and vast amount of built in trading tools. Trading platforms are available for desktop, web and mobile devices. Make sure that the trading broker you choose offers a platform that you are either familiar with or one that is user friendly. You should also ensure that the platform is compatible with the devices you plan to trade on. It would be a bonus if the broker offers trading platform tutorials to help you learn how to use the platforms.
Different trading brokers will offer a range of different markets and trading instruments. Many markets can be traded online including forex, stocks, indices, commodities, energies, precious metals, bonds, ETFs, cryptocurrencies and more. You should make sure that the trading broker you are considering offers the assets that you are interested in trading online and if you plan to expand your portfolio into other markets in the future, the more they have available, the more choice you will have.
When you trade online with a trading broker, you will need to consider the costs involved. The primary costs that most brokerages will charge are a trade commission, the bid/ask spread, overnight swap fee (rollover) and account funding fees. Make sure that you are fully aware of all of the costs that the broker charges and implement them within your money management and trading strategy. You could consider discount brokers who will usually charge the lowest commission and have the tightest spreads.
Most trading brokers will utilise a combination of liquidity providers within their liquidity pool. These can range from global banks, financial institutions and other market makers. A liquidity provider by definition is a market broker or institution which behaves as a market maker in a chosen asset class. They quote both a buy and a sell price in a financial instrument or commodity held in inventory, hoping to make a profit on the bid-offer spread. Usually the larger the brokers liquidity pool, the better the trade execution speeds and tighter the spreads you can get. Some of the best trading brokers will have a vast array of liquidity providers thus supplying you with tight spreads and fast execution speeds.
Online trading brokers will usually provide traders with the option to trade a leveraged position. This allows you to enter a position size greater than you could without it but also greatly increases the risk. If for example you had an account balance of $10,000 and leverage of 1:30, you would be able to trade a position size of $300,000 ($10,000 x 30 = $300,000). It is imperative that you understand leverage and the risks involved before trading with it.
When you trade online you can enter the markets with a variety of order types including instant execution, pending orders, stop orders, limit orders, etc. If your trading style involves a specific order type then you should ensure that the trading brokerage supports that order type.
Most traders will require a range of useful trading tools to help them analyse the charts and manage orders. This can range from technical indicators for identifying trends and ranges to fundamental indicators such as an economic calendar to see what financial releases are moving the markets. The more tools offered by a trading broker, the more options the trader will have to support them with their online trading. Whilst trading platforms provided will have a selection of trading tools built in, the best trading brokers tend to offer a range of standalone trading tools to supplement these.
You will usually find that most good trading brokers offer a range of educational materials to help support traders with their online trading skills and knowledge. These educational materials can range from video tutorials, trading guides, glossary of terms, webinars, seminars, quizzes and more. If you are a beginner or wish to learn more, then you may want to consider a trading broker that provides suitable educational resources.
You will need to make deposits and withdrawals to and from your online trading broker account. Most brokerages will offer bank wire transfer and debit/credit card payment options. If you would prefer to use another form of payment then you should check that this is offered by the brokerage. Alternative popular forms of funding trading accounts include online payment processors such as PayPal, Skrill, Neteller, etc.
A trading broker should offer top quality support that is on hand as often as possible to answer all technical and general questions that traders may have. As brokers are located throughout the globe, you may wish to consider the time zone that their support team is available during and if that is convenient for you. You should also check if they offer a method of contacting them that you prefer. Most brokers will offer telephone, email and online chat support. It can be a good idea to test the support team before opening an online trading brokerage account.
In a nutshell, online trading is when you buy and sell various assets through an online trading broker using a trading platform. Many markets and instruments can be traded online including forex, stocks, indices, commodities, energies, precious metals, bonds, ETFs, cryptocurrencies, options, futures and more.
Trading online successfully can take years of study and practising. It requires immense patience, discipline and planning. There are no guarantees that you will be profitable by trading online so you should never trade with more than you can afford to lose and you must be prepared to accept the risks involved before you start to trade online. Most trading brokers will offer a disclaimer stating the percentage of their clients that lose money.
If you have made it this far then hopefully you have a better understanding of online trading and what do look for when considering the best brokers for trading online. Once you feel ready to open a trading broker account to trade online with, you simply need to choose a trading brokerage, complete the sign-up process and fund your trading account.
Take your time to research brokers and do your own due diligence, the above information is only for educational purposes and not advice. Please feel free to use our broker comparison tool if you need some further inspiration before you get started.
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