There are various factors to consider when deciding, and it eventually comes down to your priorities and preferences. If you are willing to pay a higher commission for a solid platform, you will not be concerned about the costs, but if you want to stick to the most secure brokers at a low cost, you have to consider and compare the available options. Here's a complete guide to the most secure brokers you can trust.
Most secure brokers
eToro
eToro is a multi-asset platform that allows investing in crypto-assets and stocks. It is our top choice as a secure broker and is at the top for its easy-to-use trading platform. It is an ideal platform for beginners and experienced traders. With eToro, you can copy the trades of the more experienced investors, and if you have the knowledge and skills, you receive special perks for sharing your strategies. The broker offers a comprehensive trading experience and is considered highly secure. Its minimum deposit requirement varies from $10-$200; eToro also has a mobile-friendly platform that makes trading more straightforward and convenient.
eToro does not have a withdrawal fee in the US, but it charges a $30 withdrawal minimum, and for customers outside the US, there is a withdrawal fee of $5. It also has a $10 inactivity fee per month for those accounts that have been inactive for more than a year. If you are a beginner and want to copy the trades of well-known investors, eToro is an ideal platform to get started.
Admirals
Admirals is another excellent choice when it comes to secure brokers. The firm is overseen by regulators, including, in some areas, the Financial Conduct Authority (FCA). It has an impressive track record and discloses its financials since its parent company is listed on the stock exchange.
Admirals offer stock, forex, crypto, CFD. and ETF. With low trading fees and no withdrawal fees, Admiral Markets has become a top choice for traders. It has no deposit fees and is a very easy-to-use platform.
Tickmill
Tickmill is an average risk platform that offers limited securities to trade. It provides forex trading, CFD trading, social trading and cryptocurrency. This meta trader only broker is ideal for active and VIP traders and comes with three account types. The basic or classic account is commission-free, while the other two have a commission charge per trade.
Tickmill has a minimum deposit requirement of $100. It offers solid educational content, including daily news and market commentary.
This broker is an excellent choice for high volume traders who trade in forex and CFD instruments. It aims to offer a unique experience to users and has active trader discounts for those who have high volume trades to make consistently. The spread starts as low as 0.0 pips. However, it is not open to US-based investors.
Plus500
If you are looking for a wide variety of financial markets with low trading costs and a user friendly platform, Plus500 is ideal. Its main activity is online trading in CFDs and is regulated by the FCA in the UK. The platform is not open to US investors.
Plus500 offers CFDs on individual shares, options, forex, ETFs, and cryptocurrencies (*availability subject to regulation). Plus500 is user friendly and is a top choice for guaranteed stop-loss orders that protect the trader from the market gap risk. It has a minimum deposit of €100 and a low minimum spread. The trading platform is refined, and it features more than 13 chart types, 110 indicators and over 20 drawing tools.
Source 123RTF
Capital.com
Capital.com is one of the best brokers in the market. It provides access to more than 3000 shares, 200 cryptocurrencies and 138 currency pairs.
The most significant advantage of capital.com is its low withdrawal of $50 and a minimum deposit of $20. You will also find ample educational resources, including trading guides that help support new traders. It does not accept US clients and is regulated by the FCA. and CySEC. The platform has three types of accounts to choose from, Standard, Plus and Premier. The standard account has a minimum deposit of $20, and the others have a minimum deposit of $3,000 and $10,000, respectively. This can be slightly higher as compared to others in the market. Capital.com will not charge any commission to the users and has tight spreads making it easier to maximise gains.
Wealthify
If you like robo-advisors, Wealthify is an excellent choice. It is a digital management company that makes it simple to invest your money. Wealthify will invest your cash into different portfolios to spread the risk, including low-cost and passive investments like mutual funds and ETFs. It is ideal for those with no investment experience who do not want to take a hands-on approach.
Your investment will be handled by a team of investment experts who will build and manage the portfolio for you. Hence, you do not need to worry about choosing the investment product or handling the portfolio. It has a flat rate fee of 0.6% on the investment amount and a fund fee of 0.22%.
AvaTrade
AvaTrade is a forex and CFD broker ideal for new traders. It offers a range of tradable instruments such as stocks, forex, cryptocurrencies, indices and commodities. It also has social trading features and offers negative balance protection. However, AvaTrade is not regulated by the FCA. With AvaTrade, you can open an account for $100, and it has a $50 fee after three months of account inactivity and another $100 administration fee after one year of inactivity. There are no closure or withdrawal fees. The platform does not accept US clients.
Cryptology
If you are interested in crypto trading, Cryptology is a good option to consider. The platform is available everywhere except in Japan and the USA. It is a simple platform with 0% fees. Cryptology offers trading leverage and has lots of pairs to choose from. The platform has a low minimum deposit which varies from country to country.
Ayondo
Ayondo is a global forex broker regulated by the FCA. It is a forex and crypto exchange with 30 pairs. The platform has low fees and a minimum deposit of $100. The floating spread starts from 0.8pips, and it offers maximum leverage of up to 1:100. It is a social trading platform that also offers spread betting to some clients, which means they can trade the assets for zero tax on the capital gain.
Stormgain
Stormgain is a secure cryptocurrency exchange which supports various currencies and has its own built-in wallet. It has a minimum deposit of $50 and a trading fee of 0.095% for Bitcoin. Stormgain has become a top choice because of its beginner-friendly interface and low costs. It offers a Demo account and high leverage, with no withdrawal fees. However, the only drawback is that Stormgain is unregulated, which might pose some risk. So, if you are looking for a regulated broker, this might not be a good choice.
What to look out for
Commission
Before you choose a broker, you need to look at the commissions on your investments. Most brokers will offer similar investment options, but the commission will differ. Pay special attention to the commission you pay on each trade. With individual stocks, you will have to pay a commission per trade or share, while in mutual funds, you will pay a one-time fee at the time of purchase. Options trades have a contract fee, and ETFs are also subject to stock trade commissions. However, it is possible to find brokers who offer no-commission trades, but they should be reliable and secure.
Account fees
It is not possible to avoid the account fees entirely, but it is possible to choose a broker with the lowest prices. The fees to watch out for include annual fees, subscriptions and inactivity fees. However, brokers can also charge a fee to transfer out your cash or investments, and besides that, you can limit the fees by opting out of services that cost extra.
Source 123RTF
Features
When choosing a secure broker, you must ensure that it has all the essential features, including free educational resources. This will help you learn more about the right investing strategies and help you understand the risks of these strategies. It helps to choose a broker that offers fractional shares so that you can invest in stocks with a smaller denomination. That said, check out the platform to see if it is easy to use. Some offer a highly user-friendly downloadable platform with several tools and analyses at no extra cost. If you are an active trader, you might not need the additional research or data, but you will need a secure and reliable platform that is equally easy to navigate.
Account minimums
It is possible to find a reliable broker with no account minimum. Some brokers require a minimum initial investment of around $500, but others have no such requirement.
Reliability
It is important to look for a broker with a track record of reliability. You will find several brokers who have been around for a long time, and they will have a solid reputation in the industry. But this does not mean that a newcomer is not trustworthy. If they manage trades for thousands of clients and are fully regulated, they will be strong players in the industry.
How to check if the broker is legitimate?
You will come across several brokers online, but there are ways you can check if the broker is legitimate and will keep your money safe.
Verify membership
It is essential to verify if the Financial Conduct Authority regulates the brokerage firm. It is one of the strictest authorities, and if the brokerage firm is so regulated, it reduces the risk of fraud or wrongdoing. Always choose a regulated firm so that your money is safe even if the brokerage goes out of business.
Research
Whether you are looking for an investment product or a broker, it is vital to research. Simply search the internet with the broker's name, and you will find plenty of information about them. It might also bring up media reports or news releases of the brokerage. Take a look at the disciplinary actions or the client conversation on the online form. You can also try searching for the regulatory agency directly. You will get the registration information with the details of any disciplinary action taken against them. It is worth checking all the sources to ensure your money is safe.
Talk to them
Even if you are going to make all your investment transactions online, it is essential to be comfortable with the people who will be providing you with the products, services and advice. Before you sign up, speak to the broker's customer team so that you know how easy or difficult it will be to get in touch with them in case of an issue. When you speak to them, ask many questions about the company's offerings and establish what kind of relationship you will have with them. If they do not answer straightforwardly or avoid answering your questions, it is a sign to look elsewhere. Do not forget to check the fees, account minimums, commissions and rates.
The bottom line
There are several instances of wrongdoing by brokers, but, of course, this does not mean that all brokers are unreliable. If you put in the time and effort to look for a secure broker, you will find one that perfectly matches your needs. We have listed some of the most secure and reliable brokers in this article. We hope it helps you make the right decisions. You can learn more about the best brokers at AskTraders here.
