Best Online Brokerage

The Best Online Brokerage in 2018The most disputed question in the world of trading is which online brokerage is the best. Therefore, we thought we’d try to clear things up and actually list the best online brokerages based on facts.

Who you think is the best broker is obviously a personal choice but there are certain factors that set the top day trading brokers apart from the rest, and that’s what we’ll be focusing on now.

Here Are The Best Online Brokerage in 2018

Find the best trading platform. You capital is at risk when trading. Be careful.

Your capital will be at risk when using any of the recommended brokers on this page. Never invest money you can’t afford to lose and don’t start trading until you know what you’re doing.

In order to make a list of the best brokers that is as accurate as possible, we had to look at stats and evaluate the products offered in detail. We also had to assess what traders were looking for in a broker and then try to find the best trading brokers based on those requirements. We then combined that data from our years of experience in the field and the result is a curated list of the best online brokerages today.

Note that this is a general list meaning these are the best day trading brokers and we have specific guides for forex, CFD, and stock brokers which you can read more about further down on this page.

Also – and maybe it goes without saying – but all the brokers we recommend are regulated, licensed, and completely safe to use.

Brokerage Fees, Costs, Transactions

Every broker in the world has to charge fees in order to make money. The tricky thing is that brokerage fees come in many shapes and forms and it’s never just black and white.

Generally speaking, the broker with the lowest fees is the best since it will allow you to keep as much of your profits as possible, but it’s not always that easy. For example, a broker with low fees might have very high spreads, and a broker with tight spreads might be charging commission.

Because of this, the best online brokers all offer a good rate on a per trade basis. To calculate this, you need to compare all of the broker’s charges and spread it out over each trade. Your goal is to calculate how much you have to pay to open and close a position with the said broker.

Another important aspect connected to costs are the transactions. As a professional day trader, you need to have the option of transferring large amounts of money to and from your trading account.

Naturally, that means you have to avoid using brokers with strict limitations since it will seriously hurt your ability to trade at a fast pace. At the same time, many beginners aren’t comfortable with funding an account with thousands of dollars right when they sign up and might prefer low minimum limits. This creates a situation where the best online brokers for day traders have high maximum limits, the best online brokers for beginners have low minimum limits, and the best online brokers in general, have both low minimums and high maximums.

In addition to offering optimal transaction conditions, a broker needs to offer the payment option you prefer. Most traders fund their accounts using a debit or credit card or even a regular bank transfer, but there are many that prefer online payments.

As you probably understand by now, the best online brokerage listed on this page all offer a wide selection of payment methods that suit everyone.

The Best Trading Platforms and Tools

This part of the evaluation process is one of the most important and also where the brokers differentiate themselves from each other the most. The platform offered by day trading brokers is extremely important since it is the software you rely on for your trading. With a subpar trading platform, your experience will suffer, and you might even lose money, while a good platform will bring out the best in you and support you all the way to success.

Trading platforms come in almost as many versions as there are online brokers and in the end, the platform you prefer is a personal choice.

Generally speaking, the best online brokers have well-designed platforms that run smoothly without lagging and downtime. Furthermore, the best brokers for day trading need to offer features that make it as easy as possible to open and close positions as well as the charting tools you need to analyze your instruments of interest.

There are two types of trading platforms, and among the best online brokers, we find a combination of the two of them. A platform is either developed by a broker and unique to their product or it’s developed by a third party and used by many brokers.

As mentioned, neither version of a platform is better than the other, and it’s all based on the complete product.

Also, a platform can exist in three versions. It’s either web-based (the most common), a downloadable desktop version (the most stable), or a mobile version.

If you’re a professional day trader, you’ll most likely do 98 percent of your trading on a really good web-based platform or a desktop platform, and only use the mobile version when needed. However, we wouldn’t consider a broker for this list unless they offered at least one amazing platform for the computer and one really good one for mobile trading.

Lastly, all of the best brokers for day trading need to offer demo accounts. A demo account is used by beginners to practice trading before they deposit real money into an account, and by professionals that use the risk-free environment to developed trading strategies.

Tradable Assets

The last main part of our evaluation process is focused on the instruments that one can trade with a said broker. Obviously, a stockbroker needs a broker with a good selection of stocks, while a forex broker will look for the currency pairs he prefers. But in today’s industry, the best online brokers for day trading offer a selection of many instruments in different asset classes.

In fact, most professional day traders trade different instruments, and most do not want to use two or more brokers to satisfy their needs. That’s why the best online trading brokers for day traders have the widest selection of assets.

In our evaluation process we look at the most prominent and popular asset classes as follows:

  • Forex – All the best brokers offer forex trading.
  • Stocks – The best online brokers offer stocks as CFDs and in some cases even equity in companies.
  • Commodities – In order to qualify as one of the best brokerages for day trading, there needs to be something for the commodity traders either as CFDs or future contracts. Oil and gold is a minimum.
  • Cryptocurrencies – All the best online day trading brokers have experienced a huge increase in new customers looking to trade cryptocurrencies, and today all of the top brokers offer at least a handful of digital assets. CFDs are the most common but more and more brokers are offering exchanges and wallets too.

Moreover, the best brokers also offer additional asset classes such as bonds, exchange-traded funds, and more.

The Top Five Best Online Brokerages

Now for the million dollar question. Which are the best online brokers today, and more importantly, why are they considered the best brokers for day traders?

1. Markets.com – The Best All Around Broker

Markets.com has been one of our favorite brokers for many years, and we are not alone. Over the years, Markets.com has served millions of happy customers and considering their innovative drive, this is a broker to be reckoned with. The selection of assets that’s on offer is more than satisfying, and Markets.com offers the MetaTrader 5 platform which ensures that you will get the best CFD trading experience possible. The broker is also commission-free with no trading fees and tight spreads.

  • License: CySEC
  • Platform: The MetaTrader 5
  • Assets: More than 2,000 tradable assets in a handful of asset classes
  • Fees: No commission, minimal fees, and tight spreads
  • Transactions: Minimum deposit is $/€100, and the maximum limit depends on your knowledge and trading style.
  • Demo Account: Yes

Read our Markets.com Review

Find the best trading platform. You capital is at risk when trading. Be careful.


2. Plus500 – The Best Trading Platform

Plus500 is an Israeli CFD and forex broker that’s traded on the London Exchange. This is one of the best brokers for day trading and it made a name for themselves in the industry for having the best trading platform, and we can only agree. Trading with Plus500 is a breeze on any device including Windows smartphones, and that’s why we consider them one of the best day trading brokers today. The selection of assets is impressive and enough to keep you occupied for years. The only downside is that Plus500’s spreads can be a bit higher than their competitors.

  • Regulation: FCA and CySEC
  • Platform: The Plus500 Trading Platform
  • Assets: Hundreds of instruments
  • Fees: Zero commission, no fees, decent spread
  • Transactions: Minimum deposit is $/€ 100, and the maximum levels depend on factors such as where you live and whether you live up to the margin requirements.
  • Demo Account: Yes

Read our Plus500 review

Find the best trading platform. You capital is at risk when trading. Be careful.


3. eToro – Copy Trading and Social Networking

To survive in any industry, every business needs something unique that sets them apart from the rest. In the case of eToro, they stand out from the rest by offering the largest trading network in the world as well as the best copy trading platform in the industry. However, there is more to eToro than the social trading, and it’s the complete product they offer that qualifies the broker as one of the best online brokerages right now. Also, their recent focus on cryptocurrencies has established eToro as a leading and highly innovative broker as well as the best online brokerage for copy trading.

  • Regulation: CySEC, FCA, and more
  • Platform: The eToro platform
  • Assets: A multitude of interesting and popular assets
  • Fees: Fees are kept to a bare minimum, there is no commission, and spread is tight on most assets
  • Transactions: Minimum deposit between $200 and $500 ($10,000 for Israeli customers). Maximum levels all depend on several factors but are some of the highest in the business.
  • Demo Account: Yes

Read our eToro review

Find the best trading platform. You capital is at risk when trading. Be careful.


4. 24Option – The Most Innovative Online Brokerage

Over the years, 24Option has gone through several complete updates and in our opinion that’s the reason why they managed to make it to the absolute top of the industry. At one time, 24Option was the best binary options broker in the world, and today they are one of the best forex and CFD brokers, which is why many consider them the best online brokerage. Their charges are fair, their platform is excellent, and the overall trading experience with 24Option is pretty much unparalleled in the industry. The people behind 24Option are not afraid to stick out, and they don’t hesitate to explore the new and untested territory.

  • Regulation: CySEC, FCA and all the leading regulatory bodies in Europe
  • Platform: The MetaTrader 4
  • Assets: A focus on forex trading but also hundreds of other instruments
  • Fees: No commission, low fees, and competitive spreads
  • Transactions: Minimum deposit is $250 and maximum monthly deposit level is $40,000. Withdrawal levels differ depending on your account type.
  • Demo Account: Yes

Read our 24Option review

Find the best trading platform. You capital is at risk when trading. Be careful.


5. IQ Option – The Best Broker for Cryptocurrencies

IQ Option is completely unique to most other brokers in many ways. From the design of their website to their platform and charting tools, all the way down to the execution, everything has been designed to fit the brand perfectly. The broker is quite new in the forex and CFD industry but has already established themselves as a leader, especially when it comes to cryptocurrency trading. In 2017, IQ Option became the first CFD broker to start offering a cryptocurrency wallet, and since then, this online broker has spearheaded the development.

  • Regulation: CySEC and more
  • Platform: The IQ Option platform
  • Assets: Hundreds of assets with a focus on stocks and cryptocurrencies
  • Fees: Competitive fees, no commission, and tight spreads on most instruments
  • Transactions: Minimum deposit is $10 which is the lowest in the industry. Maximum limits vary.
  • Demo Account: Yes

Read our IQ Option review

Find the best trading platform. You capital is at risk when trading. Be careful.

Other Types of Brokers for Specific Trading

As mentioned, the aforementioned brokers are the best online brokerages for day trading in general. However, there are many other brokers out there that have specialized in certain types of trading in which they excel.

For example, there are the best forex brokers, the best stock brokers, the best cryptocurrency brokers, and many more. That means that the brokers on this page are the best brokers for day traders that prefer trading on a large set of assets. However, there might be other brokers that can be considered the best brokers for people trading specific asset classes such as forex traders or cryptocurrency enthusiasts.

Best Trading Broker Sites in the UK

Also, don’t forget to check out an extensive list of the Best Trading Broker Sites Online UK where you can read more about the best brokers for the UK market.

The day trading brokers listed on that page offer features that have been developed specifically for British traders.