Trading broker

Best for professionals| open account
exclusive offer: new clients that open an account today receive a special margin rate.

Free forex bonuses

Founded in 1982 as one of the first online brokerages in the united states, E*TRADE highlights include do you want to buy shares of stocks like apple (AAPL), facebook (FB), netflix (NFLX), or tesla (TSLA)? If so, you’ll need to set up a trading account with an online broker. Trades, two excellent mobile apps, and the power E*TRADE platform, which is great for beginners, active trading, and options trading. Read full review

Best trading platforms 2021

The stockbrokers.Com 2021 review (11th annual) took three months to complete and produced over 40,000 words of research. Here's how we tested.

Do you want to buy shares of stocks like apple (AAPL), facebook (FB), netflix (NFLX), or tesla (TSLA)? If so, you’ll need to set up a trading account with an online broker.

Every stock trading platform is unique. And now – with every broker offering $0 stock and ETF trades – deciding which one to use comes down to differences in the overall trading experience. Investment options, trading tools, market research, beginner education, customer service, and ease of use are all factors investors should consider when choosing a broker.

Having led these annual reviews for the past 11 years, I have seen the industry evolve firsthand. I placed my first stock trade when I was just 14 years old. (it was starbucks.) today, at 34, my lifelong tally of trades is now more than 2,500.

I geek out over every aspect of the trading experience, which is why our review process is so exhaustive. This year we measured more than 250 individual variables. I couldn't have done this alone, though. Big thanks to my teammates steven hatzakis, jessica hoelscher, and joey shadeck, along with the rest of our awesome editorial staff.

Best trading platforms 2021

Here are the best online brokers for 2021, based on 256 variables.

TD ameritrade - best overall, best for beginners

Fidelity - best for everyday investors

Charles schwab - best IRA accounts

Interactive brokers - best for professionals

E*TRADE - best web trading platform

Best overall, best for beginners

TD ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners, and reliable customer service. This outstanding all-around experience makes TD ameritrade our top overall broker in 2021. Read full review

Best for everyday investors

Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 32 million customers, fidelity is a winner for everyday investors. Read full review

Best IRA accounts

With more than $6 trillion in client assets, charles schwab understands how to consistently deliver value to its customers. Highlights include $0 trades, excellent stock research, a diverse selection of trading tools, and an industry-leading offering of financial planning services. Read full review

Best for professionals| open account
exclusive offer: new clients that open an account today receive a special margin rate.

Once again, in 2021, interactive brokers is our top pick for professionals because of its institutional-grade desktop trading platform and rock bottom margin rates. Professionals aside, interactive brokers also appeals to casual investors with $0 trades and its user-friendly web platform. Read full review

Best web trading platform

Founded in 1982 as one of the first online brokerages in the united states, E*TRADE highlights include $0 trades, two excellent mobile apps, and the power E*TRADE platform, which is great for beginners, active trading, and options trading. Read full review

Other trading platforms

In addition to our top five trading platforms for 2021, we reviewed six others: merrill edge, firstrade, ally invest, tradestation, webull, and robinhood. Here's our high-level takeaways for each. To dive deeper, read our reviews.

6. Merrill edge

Merrill edge offers $0 trades with industry-leading research tools (especially ESG research) and excellent customer service. Better yet, for current bank of america customers, merrill edge's preferred rewards program provides the best rewards of any bank broker we tested in 2021. Read full review

7. Firstrade

While firstrade is easy to use and terrific for chinese-speaking investors, its overall offering struggles to stand out against brokers who also offer $0 stock trades. Read full review

8. Ally invest
for current ally customers looking to invest in stocks, ally's universal-accounts experience and easy-to-use website is a convenient solution. Read full review

9. Tradestation

As a trading technology leader, tradestation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. Read full review

10. Webull
webull offers a unique community experience and easy to use trading platforms that will satisfy most young investors. However, for everyday investing, webull lacks the trading tools and features to compete with industry leaders who also offer $0 stock and ETF trades. Read full review

11. Robinhood
robinhood is very easy to use; however, now that all online brokers offer $0 stock and ETF trades, robinhood's lack of trading tools and research leaves it a step behind the competition. Read full review

2021 overall ranking

Here's the overall rankings for the 11 online brokers who participated in our 2021 review, sorted by overall ranking.

Note: due to the pandemic and extensive market volatility, customer service was not scored as a main category.

2021 industry awards

For the stockbrokers.Com 2021 review, all online broker participants were assessed on 256 different variables, with 2,816 data points collected in total. Here are the 2021 main category, secondary category, and industry award winners. Here's how we tested.

2021 best trading platforms main category winners

2021 best trading platforms secondary category winners

2021 best trading platforms industry award winners

What is the best stock broker for beginners?

Based on over 30 variables, the best stock broker for beginners is TD ameritrade. Alongside paper (practice) trading, TD ameritrade offers the largest and most diverse selection of educational content. Highlights include over 200 videos, progress tracking, quizzes, and over 100 monthly webinars, among others.

Which online broker has the lowest fees?

When it comes to buying stocks online, our research found fidelity has the lowest fees overall. Fidelity is the only online brokerage to offer $0 stock trades and not accept payment for order flow (PFOF). Since every broker offers free stock trades, hidden costs matter.

Which online trading platform is best?

Online trading platforms come in one of three forms: desktop (download), web (browser), and mobile (app). After testing 11 brokers and collecting 2,816 data points, we found that TD ameritrade has the best desktop trading platform, E*TRADE has the best web trading platform, and fidelity has the best stock trading app.

Summary

To recap, here are the best trading platforms overall for 2021.

Methodology

For the stockbrokers.Com 11th annual best trading platforms review published in january 2021, a total of 2,816 data points were collected over three months and used to score brokers. This makes stockbrokers.Com home to the largest independent database on the web covering the online broker industry.

Participation is required to be included. Each broker completed an in-depth data profile and offered executive time (live in person or over the web) for an annual update meeting. Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

More from the editor

Alongside the stockbrokers.Com annual review, our fifth annual forex brokers review, which included 27 forex brokers, was also published on our sister site, forexbrokers.Com. Finally, be sure to check the latest financial advisor ratings, which you can view on investor.Com.

About the author: blain reinkensmeyer as head of research at stockbrokers.Com, blain reinkensmeyer has 20 years of trading experience with over 1,000 trades placed during that time. Referenced as a leading expert on the US online brokerage industry, blain has been quoted in the wall street journal, the new york times, and the chicago tribune, among others.

All pricing data was obtained from a published web site as of 01/19/2021 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

TD ameritrade, inc. And stockbrokers.Com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

1 $0.00 commission applies to online U.S. Equity trades, exchange-traded funds (etfs), and options (+ $0.65 per contract fee) in a fidelity retail account only for fidelity brokerage services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an options regulatory fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See fidelity.Com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through fidelity clearing & custody solutions® are subject to different commission schedules.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read characteristics and risks of standardized options. Supporting documentation for any claims, if applicable, will be furnished upon request.

Advertiser disclosure: stockbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While stockbrokers.Com has all data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by stockbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

11 best online brokers for stock trading of february 2021

Want to trade stocks? You’re going to need an online broker, and that broker should offer a reasonable investment minimum, high-quality trading tools, robust access to customer service and no hidden account fees. On these measures, the brokerage firms below earned their place on our list of the best online brokers for stock trading.

We evaluated brokerage firms and investment companies on the services that matter most to different types of investors. For example, for active traders, we've noted online brokers with low or no commissions and robust mobile trading platforms. For people venturing into investing for the first time, we've included the best online brokers for educational resources (including webinars, video tutorials and in-person seminars) and on-call chat or phone support.

Read on to see our picks for the best brokers, alongside links to our investing experts' in-depth reviews on each.

Online day trading platform

People

Service to us is very personal. More than just support, we are committed to customer engagement that provides significant value.

Passion

A company built from the ground floor up with laser-like focus to provide the best tools, service and rates. Experience our difference.

Platforms

Level-2 trading providing direct market access, one-click trading, advanced analytics and real-time charting.

Multiple direct access platforms for active traders

Cobra traderpro

Cobra traderpro is our most cost-conscious platform. Based on the sterling trader framework, the platform is loaded with features without sacrificing any of the features needed for active traders or investors. The cobra traderpro platform offers real-time level 2 market data, advanced charting, hot keys, and a short locate monitor.

DAS trader

DAS trader offers advanced order types, basket trading, charting, and multi-account management in a real-time environment. DAS combines powerful features such as advanced analytics, multi-instrument trading, and portfolio management into a single trading platform.

Sterling

Sterling trader is one of the leading direct-access trading platforms for trading equities and options. The platform is fully customizable to the needs of individual traders to deliver a singular, exceptional trading experience.

Realtick

Realtick® EMS is the online trading industry’s premier downloadable, direct-access research and trading software. Realtick® EMS delivers real-time market data, news, analytics, and sophisticated trading tools supported by state-of-the-art data centers.

Best stock trading apps for 2021

The stockbrokers.Com best online brokers 2021 review (11th annual) took three months to complete and produced over 40,000 words of research. Here's how we tested.

Like most things in today's high-tech society, trading has become an everyday activity on mobile devices. Whether you are a beginner or a seasoned active trader, the best stock trading apps offer $0 stock and ETF trades, are easy to use, and overall provide a fully-featured online trading experience.

For our 2021 annual review, we tested and scored 11 different stock trading apps. To assess each stock app, we checked for and tested 40 individual features. Needless to say, scoring high marks was no walk in the park. Testing was conducted using an iphone XS (apple ios) and samsung galaxy S9+ (android).

Best stock trading apps 2021

Fidelity - best stock app for investors

E*TRADE - best app for options

TD ameritrade - best stock app for traders

Interactive brokers - best stock app for professionals

Merrill edge - great for stock research

Best stock app for investors

Fidelity’s mobile experience is cleanly designed, bug-free, and delivers a phenomenal experience for investors. While active traders may be left wanting more, for the majority, fidelity delivers, winning our award, no. 1 investor app, for 2021. Read full review

Best app for options

In our 2021 review, E*TRADE once again ranked among the best because its apps are easy to use and feature-rich. My recommendation: use E*TRADE mobile for stock trading and power E*TRADE mobile for options trading. Read full review

Best stock app for traders

TD ameritrade delivers $0 trades, fantastic trading platforms (including our favorite trading app, thinkorswim), excellent market research, industry-leading education for beginners, and reliable customer service. While not no. 1 for mobile trading, TD ameritrade took first place overall in our 2021 review. Read full review

Best stock app for professionals - open account
exclusive offer: new clients that open an account today receive a special margin rate.

Mobile trading with interactive brokers is well supported across all devices. From lightning-quick streaming data to full-featured order entry and portfolio management, interactive brokers includes everything professionals require to trade on the go. Read full review

Great for stock research

Merrill edge's mobile app is easy to use, great for research (including ESG research), and exceeds the industry standard experience. For existing bank of america customers, the mult-account rewards and universal account functionality makes merrill edge an easy winner. Read full review

Other trading apps

In addition to our top five stock apps for 2021, we reviewed six others: tradestation, charles schwab, webull, robinhood, firstrade, and ally invest. Here's our high-level takeaways for each. To dive deeper, read our reviews.

6. Tradestation

Tradestation's mobile app is meticulously designed and provides the functionality that active and professional traders need to succeed. Thanks to matrix (ladder trading) and complex options trading support, full day trading functionality is incorporated. Read full review

7. Charles schwab

Charles schwab provides a consistent and generally enjoyable experience for mobile trading, regardless of the device. That said, for active traders, schwab's mobile apps lack core functionality in two key areas: alerts and quotes. Read full review

8. Webull
while webull's mobile app offers more features than robinhood, it struggles to compete with the extensive amount of trading tools provided by the best stock trading apps. Read full review

9. Robinhood
robinhood's stock app is very easy to use; however, now that all online brokers offer $0 stock and ETF trades, robinhood's lack of trading tools and research leaves it a step behind the competition. Read full review

10. Firstrade

While firstrade is easy to use and terrific for chinese-speaking investors, its overall offering struggles to stand out against brokers who also offer $0 stock trades. Read full review

11. Ally invest
if you are not already an ally bank customer, ally invest struggles to compete as a standalone broker. Ally invest trails industry leaders in most areas, including trading platforms, tools, investment research, and education. Read full review

Best stock trading apps comparison

Comparing stock apps side by side, while features such as real-time streaming quotes, charting with multiple indicators, and synced watch lists are commonly found, others are not. For example, less than 50% of stock apps support basic stock alerts.

Feature	*ETRADE**	TD ameritrade	fidelity	interactive brokers open account
watch list syncing	yes	yes	yes	yes
stock alerts	yes	yes	yes	yes
charting - after hours	yes	yes	yes	yes
charting - drawing	no	yes	no	no
charting - study customizations	yes	yes	yes	yes
heatmapping	no	no	yes	no
stream live TV	yes	yes	yes	yes
barcode lookup	yes	yes	no	no

What is the best stock trading app for beginners?

For beginners in 2021, the best stock trading apps are TD ameritrade and fidelity. Between the two brokers, TD ameritrade has the edge for educational resources and trading tools. Meanwhile, fidelity offers a more comprehensive research experience for casual investors.

What is the best free trading app?

The best free stock trading app is TD ameritrade. Unlike most brokers, TD ameritrade offers two stock apps: TD ameritrade mobile and thinkorswim mobile. TD ameritrade mobile is designed for casual investors. Meanwhile, thinkorswim mobile is designed for the feature-hungry active trader. Both apps are fantastic.

TD Ameritrade best trading app stock chart

TD Ameritrade best trading app stock quote

How do I choose the best stock trading app?

Now that all stock apps offer $0 stock trades, we recommend comparing app features to choose the best stock trading app. The most widely used stock app features are watch lists, stock charts, and order tickets, so make sure those are great. To help readers, we include full screenshots of each stock app in our broker reviews.

Fun fact: not all stock trading apps offer real-time streaming quotes. Instead, some apps only refresh stock quotes every few seconds or more. Watch lists aside, apps like TD ameritrade and tradestation do a terrific job with their stock chart tools and stock alerts functionality. Both brokers offer traders access to several hundred technical indicators alongside endless customization options.

TradeStation trading app stocks watch list

Which stock app offers the best technology?

On the innovation front, TD ameritrade was one of the first brokers to offer an alexa skill, and in august 2017, it became the first broker to integrate with facebook messenger, embracing the future of artificial intelligence (AI) with its own chatbot. In 2018, apple business chat was added. Then, in 2019, TD ameritrade for apple carplay and android auto both rolled out. All in all, TD ameritrade is the undisputed leader in mobile and can be found everywhere you are.

Speaking of alexa, for the millions of americans who own an amazon alexa device, TD ameritrade, alongside fidelity, charles schwab, and interactive brokers, all have approved alexa skills. Our testing this year did not incorporate testing specific alexa features; however, based on amazon’s ratings, it appears TD ameritrade has the lead in delivering a diverse quality experience.

Can I start trading with $100?

Yes. Nowadays, most online brokers offer no minimum deposit to open an account, commission-free stock and ETF trades, as well as fractional shares. As a result, new traders can start trading with a small investment such as $100. To compare features and pricing, use our online broker comparison tool.

Summary

To recap, here are the best online brokers for beginners.

Methodology

TD ameritrade, inc. And stockbrokers.Com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

Top 10 forex brokers and trading platforms to trade online

Forex is a portmanteau word consisted of the words foreign exchange and forex trading signifies the trading of currencies. Currency trade has existed for many centuries, even millennia, in fact it can be said that it is as old as money and trading in general. The international forex market is massive, in fact, it is the largest market in the world in terms of volume of trading. Currency trading is essential for international businesses and forex trading is very useful for companies that import or export products and/services.

Below is information that you will require to know while deciding to go with forex trades at any of the top forex brokers site we have listed out below.

Here you will check out each of the sites that are more popular in currency trades. They have been provided here in addition to the other valuable information which will permit you in making your own decision on the forex broker that you will be making use of the services.

Deposit: $10 leverage: 1000:1

Deposit: $100 leverage: 1:30

Deposit: $50 leverage: 1:1000

What are forex brokers

In the past, only large international financial institutions were allowed to trade currencies, but with the introduction of online forex brokers, i.E. Forex trading platforms, individuals are also given an opportunity to invest and increase their capital by trading currencies. Basically, a forex broker is a company which provides a platform for individuals who like to engage in speculative trading of currencies. This type of forex trading, where individuals get to trade via a platform is also known as ‘retail forex trading’, a term used to distinguish it from the more traditional type of forex trading. Even though it appeared only about 20 years ago, online forex trading is now a huge market and recent reports show that the daily trading turnover in 2016 was over $280 billion. There are numerous forex brokers that offer forex trading services to individuals all over the world.

The basic definition of the word broker is ‘someone who sells products or services on behalf of other people’. And that is pretty much true for forex brokers. They buy and sell currencies on your behalf. Unlike conventional brokers that you’ve surely seen in wall street themed movies, you don’t have to call this brokers and they don’t have to be at a particular place in order to trade.

How to choose a forex broker

There are more than few forex brokers that operate online, in fact there are dozens of them.

Choosing the best online forex broker, isn’t always easy, especially since almost every forex trader seems to be the bets. But, you shouldn’t worry, as there are ways to determine which forex broker is trustworthy and reliable.

Licencing

The legal aspect is primary here. You definitely can’t trust a forex broker which isn’t licensed and regulated. Even if their offer looks good and everything seems appealing, you shouldn’t trust a company that lacks appropriate certification. Different countries have different legislation and standards which are applied to forex brokers and their operations. The first step for every trader is to make sure that the forex broker has the appropriate licence and is completely legal.

Currency pairs

There are multiple currencies in the world, but not all of them have the same reputation and not all of them are equally traded. Typically, the american dollar is one of the most interesting currencies.

In addition to the american dollar, there are 7 other currencies which are rated highly:

Euro (€) – EUR

Pound sterling (£) – GBP

Australian dollar ($) – AUD

New zealand dollar ($) – NZD

Canadian dollar ($) – CAD

Swiss franc (fr) – CHF

Japanese yen (¥) – JPY

A pair consisted of one of the currencies listed above and the USD is called a major. The majors are the most frequently traded pairs and these pairs constitute 85% of the total forex trading on the market. Other, lower-rated currencies are usually paired with the USD and such a pair is called a minor. When a lower-rated currency is paired with the currency other than the US dollar, that pair is called a currency cross, or just a cross.

The number of currency pairs which are offered by a forex brokers is one of the key criteria for establishing the reputation of the brokers. Brokers that offer a larger number of currency pairs should be preferred over ones that offer fewer pairs. Most brokers offer all majors, as well as a number of minors and crosses. If you’re looking to trade a particular pair, then you should definitely check whether the broker in question offers that pair. On the other hand, if you’re looking to trade only the majors, there are other things which you should take into consideration.

Leverage and lot size

Leverage in forex trading is used as a means to provide higher profits which are derived from the changes in the exchange rates of the two respectively paired currencies. In fact, it might be simplest to describe it as a loan provided by the broker to the investor. The leverage may vary, it can be 50:1, 100:1 or even 200:1. Higher leverage provides you with a chance of earning more money through trading, but it also means taking larger risks. Traders that have a higher understanding on the market will be looking for higher leverage.

As you don’t buy the actual currency units, but you actually invest in the expected fluctuation of how two currencies are paired against each other, the traders actually trade larger unit blocks, called lot sizes. A lot size is the number of currency units which are traded. The lot size may be 100, 1,000 or even 10,000 units of the second currency in the pair. It would be wiser to look for a forex broker that offers a variety of lot sizes, including smaller ones which are perfect for traders who are new to forex trading and don’t want to risk large amounts of money.

Market spread

Forex brokers allow you to trade the currency pairs you want and make a profit. The have to make a profit as well, though. Most forex brokers don’t charge any fees, so that you won’t have any initial expenses, but they make their profit through the market spread.

The spread is the difference between the two positions, which are the buy (bid) and the sell (ask) position. Higher spreads allow brokers to make bigger profits, but they are less favourable for the traders.

The spread percentage is very important, and if you’re looking for a forex trader, it would be wise to choose one that offers lower spreads.

Sometimes, forex traders don’t offer the same spread on different currencies. Usually for large currencies, that take are traded more frequently, the spread will be lower, whereas for smaller currencies, and currencies with a larger volatility the spread will be higher.

Trading platforms

We have already mentioned that the emergence of forex trading was enabled by the internet. Forex brokers may offer different sorts of trading platforms, downloadable, web-based and from few years ago mobile trading platforms. It all boils down what is more convenient for you as a trader.

Some mobile apps for example, include only some of the features that are offered in the desktop version, whereas other include more options. Moreover, some forex traders offer more than one platform, and each of them may include different elements. It is best to look for a forex broker that offers both a platform for traders who aren’t very experienced. Those platforms are usually easier to use and a lot more user-friendly.

Payment methods

Forex brokers usually offer their customers more than one payment method that will enable them to fund their trading accounts. Some brokers charge fees on deposits and/or withdrawals, whereas with others no extra fees will be charge, other than the ones applied by the provider of the financial service. The deposit and withdrawal limits may differ. The principle here is simple, the brokers that provide more methods and don’t charge any fees have a definite advantage over those that offer a limited amount of payment methods and charge fees on deposits and withdrawals.

Bonuses, training materials and support

As there is a pretty large competition on the forex broker market and multiple companies provide forex trading to customers all over the world, brokers are looking for ways to attract new customers, while also trying to keep their existing ones.

Bonuses

Training materials

Customer support

These three are also very important parts of the overall offer of every forex broker, in conjunction, of course, with the pairs, leverage and market spread.

The types of bonuses that are offered may vary. Many brokers offer a welcome bonus, where traders get additional funds, on top of the ones that they deposited. Some brokers offer bonus funds even before the traders make their first deposit.

Some traders are new to forex trading and that is why it is only fair for brokers to provide them with the necessary learning materials that will help them improve their understanding of the market fluctuations and forex trading as a whole. Many brokers allow traders to open a demo account, which will allow them to simulate forex trading without any risk of losing real money. In addition, e-books, videos and even webinars on forex trading are also provided.

Customer support is an important aspect for every service industry and forex brokers aren’t excluded. Help is provided via phone, email and live chat and most brokers’ websites have an FAQ section which provides answers to specific questions.

Why trade forex online?

There are many reasons why you should seriously consider placing forex trades online, and if you are new to this environment it can often be something of a confusing forex trading environment at first, as there are many different currencies that can be paired together and lots of different trading platforms to choose from.

However, do remember that if you do decide to trade forex online then at no point in time are you having to actually buy the two currencies you are trading against each other and therefore your costs of becoming a forex trader are massively reduced.

When you chose to trade at any of our top 10 forex brokers you are only going to be placing a trade on which way you think one currency is going to move against another, and as such your leverage is far greater online.

Imagine the fuss and hassle involved with having to first buy one currency, and then if it moves in the direction you want it to then finding somewhere to sell that currency to and then buy the other one! Those days are long gone now and you really are going to be amazed at all of the next generation of forex brokers listed and fully reviewed throughout this website!

The respective financial authorities of every countries provide licences under which forex brokers are allowed to operate and offer their services to citizens of that particular country.

Forex trading is legal in most countries of the world, even if the country doesn’t have a financial authority who issues licences.

Yes, forex brokers are able to offer services outside the country they’re based in. Some countries would require a broker to obtain a licence, others will allow them to operate under a licence issued elsewhere. It really depends on the local laws.

Many forex brokers also offer contract-for- difference (CFD), commodities, as well as stocks and indices and it is possible for traders to use one account for all of them.

They are usually open the whole time, but when it comes to trading, it is offered monday through friday. The starting hour on monday and the closing hour on friday depends on the pair in question.

Most forex brokers have a deposit limit. The specific limit depends on your choice of currency, but usually it isn’t very high.

Licenced forex brokers comply with all financial standards and security measures that are employed by the world’s leading financial institutions. Encryption technology is used to ensure that no third parties will be allowed to access customers’ financial information and the customers’ details are not handed to third parties. Most reliable companies, keep their customers’ trading funds in a separate account, to ensure that they won’t be lost no matter what.

Some forex brokers allow their customers to open multiple trading accounts, but they are advised to use the same personal details for each of them.

Yes, all forex traders require customers to provide identity verification documents, either when they register or when they’re about to make their first withdrawal. Most forex brokers would require you to present a proof of identity and a proof residency, so they can confirm that you are who you claim to be and that you are legally allowed to trade forex.

Yes, there are no legal limits on the number of forex trading accounts that may be opened in your name. As long as you are legally allowed to have one account, you are also able to have as many as you want.

Yes, you can trade any of the forex pairs that are offered by the broker, not just pairs that include your preferred currency/ the currency of your country.

Best stock trading apps for 2021

The stockbrokers.Com best online brokers 2021 review (11th annual) took three months to complete and produced over 40,000 words of research. Here's how we tested.

Best stock trading apps 2021

Fidelity - best stock app for investors

E*TRADE - best app for options

TD ameritrade - best stock app for traders

Interactive brokers - best stock app for professionals

Merrill edge - great for stock research

Best stock app for investors

Best app for options

Best stock app for traders

Best stock app for professionals - open account
exclusive offer: new clients that open an account today receive a special margin rate.

Great for stock research

Other trading apps

6. Tradestation

7. Charles schwab

10. Firstrade

While firstrade is easy to use and terrific for chinese-speaking investors, its overall offering struggles to stand out against brokers who also offer $0 stock trades. Read full review

Best stock trading apps comparison

Feature	*ETRADE**	TD ameritrade	fidelity	interactive brokers open account
watch list syncing	yes	yes	yes	yes
stock alerts	yes	yes	yes	yes
charting - after hours	yes	yes	yes	yes
charting - drawing	no	yes	no	no
charting - study customizations	yes	yes	yes	yes
heatmapping	no	no	yes	no
stream live TV	yes	yes	yes	yes
barcode lookup	yes	yes	no	no

What is the best stock trading app for beginners?

What is the best free trading app?

How do I choose the best stock trading app?

Which stock app offers the best technology?

Can I start trading with $100?

Summary

To recap, here are the best online brokers for beginners.

Methodology

TD ameritrade, inc. And stockbrokers.Com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

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Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Top recommended and the best forex brokers for 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
min deposit: $250 spread: as low as 0.1 pips leverage: up to 400:1 regulation: ASIC australia and FCA UK	visit broker
min deposit: €100 spread: the spread can be as low as 0.01%” (0.01% = spread for EUR/USD) leverage: 1:294 regulation: ASIC, cysec, FCA (UK)	visit broker
min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

Main parameters to be checked for identifying the best forex brokers:

#1: regulations and licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as commodity futures trading commission (CFTC), national futures association (NFA) and financial conduct authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

#2: forex trading platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: customer support services

Customer support is a key aspect that you need to evaluate. Best fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: deposits and withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: other parameters for identifying the best forex brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the forex market are the best forex brokers to work with.

Why expert traders trade with regulated forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial. In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

CFTC and NFA: commodity futures trading commission and national futures association, regulate the financial services sector in united states of america (USA).

Cysec: the cyprus securities and exchange commission is the regulatory watchdog within the cysec domain. It offers services to the EU member states.

FCA: the financial conduct authority regulates the operations of over 56,000 financial services and companies in the UK.

ASIC: the australian securities and investment commission regulate the financial services sector in australia.

FSB: the financial services board is a south african agency which oversees functioning, regulation, and licensing of south african forex brokers.

Bafin: bafin is a financial supervisory authority providing its services to forex companies in germany.

Advantages of regulated forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under cysec are required to remit their contribution to the ICF (investor compensation fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective customer service

Before choosing a forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick deposits and withdrawals

Any reputable forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated trading platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated forex broker.

Understanding true ECN vs STP broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding true ECN vs STP broker

True ECN i.E. Electronic communications network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.E. Straight through processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General overview of true ECN and STP brokers

Use of scalping techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between true ECN and STP brokers

Commission charged

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of trading forex with a true STP broker

Cannot bankrupt themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

Similar price rates

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

Negative balance protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of choosing a true ECN broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of trading forex with an STP broker

Their rates and the interbank prices are same

They provide their clients low entry capital requirements

Cons of choosing an STP broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

So, let's see, what was the most valuable thing of this article: the 2021 review (11th annual) best trading platforms review took three months to complete, and, in total, there are more than 40,000 words of research. At trading broker