10 best online brokers for beginners – comparison & list

Online broker platform example

Nowadays it is hard to find the right online broker for trading financial assets on computers, mobile phones, or even tablets. On the internet, you will find a lot of offers from trading institutions or brokers but which one is the right choice for you?

Investors and traders do not want to pay too many fees by using an expensive online broker. In this comparison, we will show you 10 choices in detail. We tested over 100 different brokers and show you the 10 best ones. You can expect low fees, high diversification in assets, fast execution, and personal support from them.

See the list of the 10 best online brokers for traders:

  1. ActivTrades – Best broker overall, lowest fees, fast execution, best support
  2. Vantage Markets – The best choice for MetaTrader 4 & MetaTrader 5 platform
  3. RoboForex – Over 15,000 available markets with high leverage
  4. OctaFX – Cryptocurrencies deposit & withdrawals
  5. FBS – The best free bonus program for traders
  6. XM – Supports automated trading and bots
  7. BlackBull Markets – The best choice for the TradingView platform
  8. Exness – Winner in social trading (not for European traders)
  9. Moneta Markets – The best broker for forex trading
  10. XTB – Overall good choice

How to choose the best online broker?

When choosing the best online broker you should consider different test techniques and criteria. We are experienced traders and used overall more than 100 different online brokers for years. We know how to select and choose a good online broker. Check out our criteria:

1. Regulation

Is the online broker regulated? Check the broker’s page for the regulation status or check the financial authority in your country of residence if the broker is registered there. Most of the time you will find the regulation of an online broker on the end of its website. The regulator demands that the online broker will show the regulation status at the bottom of the page.

We recommend using only regulated online brokers. Some important regulations are:

2. Free practice account (demo account)

Is it possible to test the online broker for free? – A demo account is a free practice account with virtual money. It is possible to test all features for free and imitate real money trading. You can use this account to test the online broker’s platform, develop trading strategies, or explore new markets

3. Which assets are available to trade

Some brokers are offering 20,000 underlying assets to trade some brokers offer only 100. Also, you should know which financial products you want to trade. Do you want to trade Binary Options, stocks, or CFDs?

Today, most brokers are offering a high diversity of assets and financial products.

4. Fees

Fees are limiting your profits. An online broker needs to earn money, we all know that, but it should not be too expensive for you. On the world wide web, there is a huge competition. Expensive brokers will lose this competition.

Check for trading fees, additional fees, or any hidden fees. In this comparison, we will show you the best brokers with competitive fees.

5. Trading platform features

When it comes to trading platforms it is important to check if you can use them for real investing and trading. Check out the features and functions. Is the platform user-friendly or not? Are there any bugs or errors? By using the demo account you can check if you like the trading platform of the online broker or not.

Security and regulations for traders

The regulation and security of online brokers is the most important factor to consider. Most beginners do not care about regulations because they lack knowledge. But we are here to help them!

The regulation or license shows an investor that the broker is secure. To get a financial regulation the broker has to fulfill different criteria. By violating these rules, the broker can lose its license immediately. In most countries, a broker is required to have a financial license. Without that the online broker can be blacklisted and get into serious trouble.

How to register with an online broker

Register with an online broker is quite easy. First, you need to insert your personal details in the account opening form. That means you will ned your email address, your name, a password, and telephone number in most cases.

After that the first step is completed to use an online broker, you can use the demo account for example. But if you want to trade with real money, you will need to pass the verification process. Regulated brokers need to verify the investor’s account by checking the ID and address. Upload the required documents. Usually, the online broker needs a few hours up to 3 days to verify the account completely. After that, you can use every function of the trading account.

Deposit money

Depositing money can be done by multiple payment methods. Most of the time you will have a good choice between different payment methods.

  • Credit Cards
  • Debit Cards
  • Bank transfer
  • Electronic wallets
  • PayPal
  • Cryptocurrencies

It is depending on the online broker or payment if there is a commission charge for depositing money. Normally it is free of charge. Depositing money by an electronic method will credit the amount instant to your trading portfolio.

Withdrawal money

Withdrawing money is easy as the deposit. But keep in mind some online brokers want that you use the same payment method for the withdrawal as for the deposit.

Depending on the online broker the duration of a withdrawal can take up to 3 days. Often the withdrawal is completed in a few hours.

Conclusion: ActivTrades is the best choice at the moment!

ActivTrades online broker website

ActivTrades is by far the best online broker for beginners at the moment. This company exists since 2001 and offers you over 1,000 assets to trade. Use a professional platform like the ActivTrader platform, MetaTrader 4, or MetaTrader 5.

You can trade stocks, forex, indices, commodities, shares, ETFs, and even cryptocurrencies on one platform. The spreads and trading fees are at a minimum price. Beginners can use the free demo account for 30 days. If you want to do live trading, you have to deposit a minimum amount of at least $ 500.

  • Regulated and secure
  • High leverage trading up to 1:500
  • Stocks, forex, indices, commodities, shares, ETFs, crypto
  • Deposits and withdrawals without commissions
  • Spreads from 0.2 pips only
  • Personal customer support

How to buy stocks online without a broker?

Most of the transactions online are made between an online broker and an investor. But if you do not want to use a broker, you can use a bank for buying stocks. Some banks got online platforms where you can purchase stocks directly. From our experience, it is mostly slower and more expensive.

What is an online broker?

An online broker is an interface between an investor and the financial markets. The online broker gives the user access to trade financial assets. That can be stocks, derivatives, or bonds.

What is the best online stock broker?

The best online stock broker is RoboForex at the moment. You can use over 15,000 different markets on more than 20 stock exchanges. The trading fees are very low!

Which online broker is the best for beginners?

At the moment ActivTrades is the best online broker for beginners. It offers a 30 day free trial, low trading fees, a lot of assets to trade, and personal support. It is the best choice and overall package for a beginner to use. Furthermore, this online broker supports a beginner with education and webinars.

Is my money safe with online brokers?

Regulated brokers are required to have deposit insurance. Before you register with any online broker you should check how the money is managed and if there is a deposit insurance, also check for the regulation. Regulated brokers are very safe to use! The money is stored in separate accounts with the requirements of the regulator.

Are online brokers regulated?

On the internet, you will find regulated and unregulated online brokers. We recommend using only regulated brokers for investing in the financial markets. Unregulated online brokers can cheat on clients for free or manipulate prices. Most online brokers are regulated because they need this regulation for real pricing and execution on the stock exchange.