TOP 5 BROKERS OF 2020 FOR ONLINE TRADERS IN

Welcome to our expert ratings of the top brokers for for the year 2020. These ratings are kept up to date through bi-monthly reviews by our financial consultants. Our aim is to make your decision easy and accurate when choosing a broker.

First Position

(5 Stars)

Min Deposit: 10

Number of Assets: 300+

Payment Methods:

Credit Cards  Neteller Paypal Skrill  Web Money  Wire Transfer Perfect Money Advance Cash

Key Features:

  • World Leading Broker With 40 million Users
  • Regulated By FSA & CySEC
  • Multiple Payment Methods
  • Low Deposit & Withdrawal Limits
  • Great Mobile App

Second Position

(5 Stars)

Min Deposit: 100

Number of Assets: 2100+

Payment Methods:

   

Key Features:

  • Regulated By FCA, ASIC & CySec
  • Multiple Payment Methods
  • Great Customer Support
  • Zero Commissions

Third Position

(4 Stars)

Min Deposit: 2000

Number of Assets: 200+

Payment Methods:

Credit Cards  Neteller  Skrill   Wire Transfer  

Key Features:

  • Regulated by EU, ASIC & FSCA
  • Best For Traders With High Minimum Deposit
  • Zero Commissions
  • Great Support

Fourth Position

(4 Stars)

Min Deposit: 20 (Except For Wire Transfer Deposits That Have 250)

Number of Assets: 1500+

Payment Methods:

Wire TransferIdealGiro PayPrzelewySofortTrustly Webmoney Neteller Skrill Multibanco

Key Features:

  • Regulated By FCA, CySec
  • Friendly & Great Looking Platform Interface
  • Zero Commissions
  • Good Technical Analysis With Own TV Channel

Fifth Position

(3 Stars)

Min Deposit: 2000

Number of Assets: 200+

Payment Methods:

Credit Cards  Neteller  Skrill   Wire Transfer  

Key Features:

  • Regulated by EU, ASIC & FSCA
  • Rceive a Call and Request the Copy Trading Feature
  • Complicated Process & High Min Deposit
  • Zero Commissions
  • Great Support

Looking to open an account with a broker using only your email address?

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(4 Stars)

Min Deposit: 0.01 Bitcoin (approx. 16 )

Number of Assets: 30+

Payment Methods:

Bitcoin

Please note that Prime XBT is only under the regulations of offshore jurisdictions of Seychelles  and St. Vincent & the Grenadines.

Key Features:

  • Offers highest leverage
  • Allows anonymous accounts (no documents or ID needed)
  • Accepts deposits in Bitcoins
  • Sleek platform

How are these brokers rated?

The top five brokers listed above have been chosen from more than 450 brokers! Many brokers today offer the exact same features and perks as others. Those who have made it in our list have stood out because these brokers try to go beyond the normal level of service. This could be the ease of trading on their mobile application, customer service level, integration of third party copy trading apps, number of trading instruments offered, market reputation, minimum deposits, leverage and payment methods accepted for deposits and withdrawals. These are just a few of the data points that our analysts take into consideration when evaluating each broker. Of course, safety is a must for all of them. It is our aim to help you with our specialized knowledge of trading platforms in order to make your decision easy and accurate. 

FAQs

What is online trading?

Online trading is trading in financial markets via the Internet. Previously, all trading was held in the exchange building in person or by phone. Now, every deal is concluded with the help of an electronic terminal. All you need to start trading is a computer with Internet access and an installed trading system. Internet-trading allows you to make deals on the financial market within seconds or even less. However, one thing still remains the same with pre-online times: a private trader still needs a broker in order to trade. A broker provides a trader with a trading platform – the software that a trader uses to conduct his business.

How do I get a trading platform?

All buying and selling on financial markets are done through the brokers via the trading platforms they provide you. It goes like this:

  1. A trader decides to make a deal (for example, to purchase 100 shares of Apple).

  2. He finds this asset (Apples’ shares) in his trading platform, chooses the quantity (100 pieces or 1 lot) and places an order to buy.

  3. The broker gets a request from a trader and starts executing the order. He needs to find a counterparty – another trader, who is willing to buy the same asset for the same price. 

  4. The broker looks for a counterparty on the stock exchange. When the search is completed, the deal is made.

Nowadays, the trading platform does all the work to find a counterparty and clinch a deal. The trading process is fully automatic; that is why the time needed to make a deal is no more than a couple of seconds. That is why brokers offer such good deals as zero commission trades.

What is leverage?

One of the most significant and important innovations that online trading brought is the possibility to trade using leverage. Leverage means that you can buy or sell financial assets without having to pay their full price. Instead you only pay a small fraction of the price, for example 1%. The remaining 99% is funded by the broker. The advantage of leverage is that you can trade assets of much greater value with a small amount of money. Your profit or loss is calculated based on the entire value. For example if you buy a stock worth $100 by paying only $1 and the price of the stock goes up by only 1% then you have made a $1 profit. With your actual investment being only $1 this doubles your money! However, the negative side is that if the value of the share goes down by 1% then you loose all your investment! That is why leverage is a risky game that can make you really rich or really poor in a short time.

Which financial assets can I trade online?

You can trade all kinds of financial assets online such as shares, commodities, currencies and cryptocurrencies (like Bitcoin). 

How much money do I need to start trading?

Unlike what most people believe, almost anyone can start trading online. Many brokers allow you to open an account with as little as $100 or $200.