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
- Highly competitive fees and commissions
- Newly released suite of trading platforms
- Presents traders with more than six types of trading accounts
- Broker doesn’t maintain the common trade and account restrictions like minimum deposit, operating balance and inactivity fees
- Highly transparent with its client engagements, especially when it comes to fees and safety of deposits
Weaknesses
- You can only trade futures and not any other financial instruments like FX or shares with Generic trade
- Generic trade doesn’t have an auto trader and its trader platforms won’t support integration with a third party auto trader
- No educational or research materials on their website to help with decision making
Strengths
- $0 commissions available
- More than 40 years of experience
- Multiple platforms to choose from
Weaknesses
- Broker-assisted trade fees are high
Strengths
- High leverage, low spreads
- MT4 and MT5 offered
- More than 20 years in trading
Weaknesses
- Largely unregulated
- Fixed leverage on Micro account
Strengths
- Low trading costs
- Traders can get access to the world market with a GetStocks brokerage account
- Competitive fees and charges
- You can trade socially with the assurance that you cannot lose your money
- No custodian fee is charged
Weaknesses
- Lack of demo account to practice trading before you trade in the real world
- Lack of enough tutorials on how to trade
Strengths
- Boasts of relatively competitive trading fees for both retail and high-volume traders
- Embraces both in-house and advanced third party trading tools
- Is one of the few discount brokerages that offer extended trade hours in the pre- and post-market trade sessions where orders are processed via an ECN
- It’s licensed and regulated by multiple financial agencies around the world
- Presents its clients with multiple flexible and inexpensive account funding options
Weaknesses
- Doesn’t operate fixed spread/commission accounts and fees are variable
- Trader accounts can’t be hosted of the highly versatile MetaTrader platforms
- One may consider the $2,500 minimum account opening deposit quite restrictive
- Specializes in day trading, it doesn’t expose its clients to the all-popular forex and crypto markets
Strengths
- Low fees if you are an active trader
- Great quality of customer support
- Top-quality trading platforms
- Strong education center
- Client funds are very well protected
Weaknesses
- Specially designed to cater to institutional traders and extremely active high-volume day traders
- The minimum $4.50 charge proves too expensive for casual and infrequent traders
- Limited funding options
- Limited funding options
Strengths
- 24/7 trading
- Scalping strategies allowed
- Live Spreads feature
Weaknesses
- Currently only 50 forex pairs
- Relatively new broker
Strengths
- A lot of privacy features
- Escrow feature is utilized when trading
- There is a reputation system in place for users
- Wide range of payment options
Weaknesses
- There can be scams if you are not careful and complete your due diligence
- Slow customer support
- Costs a lot to buy Bitcoins in cash
Strengths
- Perfect for investors with large account balances
- Huge mutual fund selection and low-cost ETFs
- Leader in low cost funds
Weaknesses
- Not friendly for beginners or for active traders
- High trading commission
- Limited data and research facilities available
Strengths
- Very strong research and education offerings
- Low minimum deposits
- Excellent global customer service
Weaknesses
- Average on pricing
- Do not have their own platform
