Broker Reviews Overview
Choosing the perfect broker for you is an important first step on your trading journey. Like a good pair of gloves, your broker of choice should be a suitable fit for you. But with so many brokers out there today, where do you start?
Here at AskTraders, our expert team of trading professionals has taken care of all the hard work for you. We’ve reviewed and ranked our trusted broker partners to save you hours of research.
Along the way, we’ve looked at everything from account types and features, to trading fees and FCA regulation and condensed all of this information into a handy snapshot overview.
Strengths
- Access to human advisors
- Solid customer service/support
- Array of payment methods
- Socially conscious investing
- Free commissions on trades
Weaknesses
- Limited trading options
- Lack of tools/research
- Management Fees are high
Strengths
- No minimum deposit to open an account
- Incredibly popular, indicating that it has something to offer clients
- Has earned numerous honours and awards
Weaknesses
- Only 300 or so instruments to trade
- No GBP account, just USD, EUR, and RUB
Open Demo Account
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77,15% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Full Review
Strengths
- Tailor-made trading for different experience levels, including VIP webinars
- Two leverage levels based on the client’s experience: 1:60 for retail and 1:400 for professional accounts
- Great asset diversity, with over 300 instruments to trade from five asset classes
- Education and support from a team of professionals in the trading industry
Weaknesses
- Not a huge range of payment methods are accepted
- Larger-than-average spreads for basic account holders
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77,15% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Strengths
- Regulated by the CySEC with segregated client accounts and deposit insurance
- Tight spreads, transparent costs, and commissions
- Good choice of trading platforms
- A wide selection of account types
- Access to multiple trading platforms on desktop and mobile devices
Weaknesses
- Online tutorial videos lack depth
- The product portfolio is rather limited
Open Demo Account
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.24% of retail investor accounts lose money when trading CFDs with this provider.
Full Review
Strengths
- Lots of different types of account and fee structures to choose from
- Reliable customer support service options with lots of choices
- Range of asset classes including over 100 forex pairs and a selection of commodities and crypto assets
- No deposit fees are charged
Weaknesses
- Not many offers available for traders to pick from
- Lots are defined differently from the industry standard
- No offer of MetaTrader 5 for platforms
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.24% of retail investor accounts lose money when trading CFDs with this provider.
Strengths
- The trading platform is well laid out, with three clear columns, each containing different important information
- The minimum deposit is very low at just 0.001 BTC
- There are many different security methods in force to protect users, such as cryptographic hashing and Secure Sockets Layer (SSL) technology
- The platform is available in lots of different languages, and users can toggle between them with ease
- The broker recently won an award, which suggests that it is respected within the industry
Weaknesses
- The information provided about regulation and deposit protection is not clear
- All payments must be made in bitcoin – even fiat currency payments will ultimately need to be converted to bitcoin
- There are not as many forex pairs available to trade as there are at some other brokers
Strengths
- 1,000+ different assets, ranging from FX, stocks, commodities, indices, and crypto
- Proprietary trading platform with plenty of features built-in
- Wide range of educational resources like webinars, seminars, eBooks, and video courses
- Multiple account types to suit different trading styles
- Mobile app using the TraderSoft trading platform
Weaknesses
- No coverage for ETF products
- You can only use the proprietary trading platform or the mobile app — MT4 not included
- Limited social trading features
Strengths
- Good for all types of traders and investors.
- Free commissions on ETFs, mutual funds, stocks, and options.
- Huge range of funds to select from with low expense ratios.
- Unparallelled Excellent research and analytical tools.
Weaknesses
- Customers are reporting problems with the Schwab mobile application.
- Funds not on the no-free list are very expensive at $49.95
Strengths
- Regulated by the SEC and FINRA
- Multiple types of assets available for trading
- Cryptocurrency trading available
- Active trader program offers competitive commissions
Weaknesses
- Product portfolio is somewhat limited
Strengths
- Traders get real-time access to experts via the platform
- Offers more than 2,200 instruments
- Offers highly competitive spreads
- Opening an account is quick
Weaknesses
- Recent rebranding can lead to confusion
- Hard to find certain information on the website
