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TradersBest.com / Online Broker Reviews

Online Broker Reviews for 2023

Alexander Foster
Alexander Foster
Last Updated on 06/06/2023

There are houndreds of online brokers to choose from these days, with new brokerages always trying to establish themselves.

This can make it quite difficult to find a reliable broker that caters to your trading needs.

So how do you sort the bad apples from the good ones?

That’s where TradersBest.com comes in. We put both new and established providers through their paces with our online broker reviews and help you find a safe an reliable place to trade.

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Top Brands
Coinbase
4.6/5
Robinhood
3.8/5
FOREX.com
4.1/5

Best brokers and CFD providers

Stocks
Crypto
Futures
Forex
ETF
Firstrade
Recommended
Favicon
4.5/5
  • Trade in 5 US stock markets
  • Trade stocks after hours with extended hours
  • Low fees and no commissions
Account Fee
Order Fee National
Order Fee International
Deposit Protection
Visit Site
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
Show less
Robinhood
Hot Offer
Favicon
  • Great investor protection
  • User-friendly web trading platform
  • Free US stock trading
Account Fee
$0.00
Order Fee National
0.00%
Order Fee International
0.00%
Deposit Protection
$250,000.00
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
All investments involve risks, including the possible loss of capital.
Show less
FOREX.com
Hot Offer
Favicon
  • 6 account base currencies provided
  • Variety of order types available
  • Great charting tools
Account Fee
$0.00
Order Fee National
0.50%
Order Fee International
0.50%
Deposit Protection
£50,000.00
Payment Methods
Neteller
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
CIMA - Cayman Islands Monetary Authority
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Show less
TD Ameritrade
4.
Favicon
  • Quality trading platform
  • Commission-free trading on stocks
  • Excellent research data and tools
Account Fee
Order Fee National
Order Fee International
Deposit Protection
Payment Methods
Bank Transfer
Visa
Mastercard
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
Show More
Coinbase
Recommended
Favicon
4.6/5
  • Attractive sign up bonus
  • Good customer support
  • Decent selection of features
Minimum Deposit
10.00€
Deposit Protection
20,000.00€
Amount of Currencies
34
BTC/USD Spread
25
Visit Site
Payment Methods
PayPal
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
SIPC - Securities Investor Protection Corporation (USA - not governmental)
Show less
Robinhood
Hot Offer
Favicon
  • Diverse cryptocurrencies on offer
  • Accessible user interface
  • Regulated by FINRA and the SEC
Minimum Deposit
500.00€
Deposit Protection
20,000.00€
Amount of Currencies
7
BTC/USD Spread
20
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
All investments involve risks, including the possible loss of capital.
Show less
FOREX.com
Hot Offer
Favicon
  • Excellent for all types of users
  • Competitive fees
  • Great usablity and interface
Minimum Deposit
$100.00
Deposit Protection
£50,000.00
Amount of Currencies
5
BTC/USD Spread
35
Payment Methods
Neteller
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
CIMA - Cayman Islands Monetary Authority
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Show less
FOREX.com
Recommended
Favicon
  • Straightforward account opening process
  • Demo account available
  • Trading ideas offered
Minimum Deposit
£50,000.00
Contract Fee
$1.00
Deposit Protection
Demo Account Available
Yes
Payment Methods
Neteller
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
NFA - National Futures Association (USA)
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Show less
Interactive Brokers
Recommended
Favicon
  • Award-winning broker
  • Over 100 currency pairs for forex trading
  • Educational resources to help advance your knowledge
Minimum Deposit
$10,000.00
Deposit Protection
$500,000.00
Maximum Leverage
1:30
Trading Platforms
Android
iOS
Web
Payment Methods
Bank Transfer
Visa
Mastercard
Accepts Customers from
USA
USA
License
SEC - U.S. Securities and Exchange Commission
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
Show less
Robinhood
Hot Offer
Favicon
  • Great web trading paltform
  • No withdrawal fee
  • $0 minimum deposit
Minimum Deposit
$0.00
Deposit Protection
$250,000.00
Maximum Leverage
1:30
Trading Platforms
Android
iOS
Custom
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
All investments involve risks, including the possible loss of capital.
Show less
FOREX.com
Hot Offer
Favicon
  • User-friendly web trading platform
  • Low forex fees
  • $100 minimum deposit
Minimum Deposit
$100.00
Deposit Protection
£50,000.00
Maximum Leverage
1:30
Trading Platforms
Android
iOS
MT4
MT5
Web
Payment Methods
Neteller
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
CIMA - Cayman Islands Monetary Authority
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Show less
Go to Forex Comparison
Firstrade
Recommended
Favicon
4.5/5
  • Over 2,000 ETFs
  • 100 ETF providers
  • No commissions and low margin rates
Minimum Deposit
Order Fee National
Licence
FINRA - U.S. Financial Industry Regulatory Authority
Saving Plans Available
No
Visit Site
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
Show less
Interactive Brokers
Hot Offer
Favicon
  • Huge selection of ETFs and stocks to trade in
  • Advanced Market Scanner
  • Make trading decisions based on your personal values
Minimum Deposit
$0.00
Order Fee National
1.00€ + 0.05%
Licence
SEC - U.S. Securities and Exchange Commission
Saving Plans Available
Yes
Payment Methods
Bank Transfer
Visa
Mastercard
Accepts Customers from
USA
USA
License
SEC - U.S. Securities and Exchange Commission
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
Show less
Robinhood
Hot Offer
Favicon
  • Regulated by top-tier financial authorities
  • Fast account opening process
  • Free ETF trading
Minimum Deposit
$0.00
Order Fee National
0.50€
Licence
FINRA - U.S. Financial Industry Regulatory Authority
Saving Plans Available
Yes
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
All investments involve risks, including the possible loss of capital.
Show less
FOREX.com
4.
Favicon
  • Seamless account-opening
  • Low minimum deposit
  • Withdrawals are free of charge
Minimum Deposit
$100.00
Order Fee National
0.50%
Licence
CIMA - Cayman Islands Monetary Authority
Saving Plans Available
No
Payment Methods
Neteller
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
CIMA - Cayman Islands Monetary Authority
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Show More
TD Ameritrade
5.
Favicon
  • Reputable broker
  • High-quality desktop and mobile platform
  • Commission-free trading on EFTs
Minimum Deposit
Order Fee National
Licence
FINRA - U.S. Financial Industry Regulatory Authority
Saving Plans Available
No
Payment Methods
Bank Transfer
Visa
Mastercard
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
Show More

Online Broker Reviews – How We Test

We aim to provide you with insightful and thorough broker reviews. That way you have all the necessary information at your disposal to make an informed decision about what’s right for you. You’ll rest easy knowing you did so by using a comparative, objective point of view.

In our reviews, you’ll find a range of facets we take into account. We provide overall ratings to each broker based on their performance in these categories. The following sections refer to some of the categories we use for our objective testing and it’s what you can expect to find when reading our online broker tests.

Usability

We take great pride in offering you a user-friendly and hopefully, enlightening, experience on our website. We expect the same from the online brokers offering their services to you. By visiting the official websites and creating demo accounts, we’re able to identify which brokers offer customers the best user experience. Ease of navigation and low-latency is important, especially when you’re trading on a daily basis. You’ll want to know that your chosen broker is able to provide a consistent interface that is innovative and intuitive.

Trading Platforms 

One of the most important aspects of an online broker is the trading platforms employed. Nowadays, you can expect a range of different platforms, each serving a certain trader or trading product. However, the standardized platforms one can expect include a web, desktop, and mobile platform. These three provide users with sufficient access wherever they may find themselves. We’ll assess the strengths and weaknesses of each platform and rate them accordingly.

Payments and Deposit Protection 

Funding your account shouldn’t be a hassle and you’ll definitely want to know that your money is safely secured. We’ll do a deep dive into the security measures and protocols put in place by each online broker. Sensitive information must be encrypted and stored securely. We’ll identify which type of security certificates are in the possession of the brokers, and list all possible payment methods. Nowadays, it’s relatively easy funding an online account. We’ll outline the steps you need to take in order to link your broker account with your chosen payment method.

Customer Service 

We value our readers, and put special emphasis on the ability of providers to look after their own clients. A strong customer service department is a fundamental building block to the success of any online company. Staying engaged with clients and addressing any queries or problems is vital. We’ll outline all the available contact information and communication avenues at your disposal. For traders, this is especially important. Trading can be an around-the-clock endeavor and we’ll ensure you know exactly how to get hold of your provider, no matter the time of day.

Trading Products 

A large slice of our broker reviews analyze the trading products on offer by each respective broker. Whether you’re looking for the best online futures brokers or the best online broker for gold, we will outline the available trading products that you can expect to trade with if you sign up with a broker. We’ll provide you with clarity on the pricing of each trading product and to what degree, you have access to various exchanges. We’ll link this to the available platforms you have at your fingertips and which go hand in hand.

Conclusion – Broker Reviews Round Up

We hope that you find our online broker reviews helpful and that they act as a guide in your decision-making process. The broker reviews will be updated to reflect accurate, current information and you’ll always have up-to-date online broker deals and promotions available at the click of a button. We’re set on providing our readers with expert tips and knowledgeable reviews that make your life easier.

To end off, we’d like to mention that choosing an online broker should be an exciting experience. The world of online trading might be volatile and unexpected at times, but it’s stimulating and empowering too. Having the ability to manage your own finances and make accurate, informed choices is a fantastic thing. In order to do so, you’ll need a broker that you can trust. Our broker reviews will provide you with just that – an online broker with the right capabilities.

Top Crypto Sites
Coinbase
Coinbase
Coinbase Review
4.6/5
Robinhood
Robinhood Review
3.8/5
FOREX.com
FOREX.com Review
4.1/5
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Receive the latest trading news by email + our free eBook
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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.

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