Frequently asked questions
What is a broker?
In recent years, online exchanges have become a real trend, with a significant number of people joining daily. It is at this point that the term "broker" usually appears. However, it is not always immediately clear what exactly we are talking about. Who is a broker? A broker trades securities and other financial instruments on behalf of and for the account of his clients. In this sense, he offers a typical service, namely the initiation, and settlement of exchange transactions. Therefore, he is responsible for executing orders for securities from investors.
Why do I need a broker?
To be able to buy and sell financial products, you need a broker with an appropriate license from the financial regulator. As an individual, you cannot place buy and sell orders. An online broker pays a high fee to be allowed to trade on global trading platforms. This fee is then reimbursed in the form of transaction costs.
How to choose a broker?
When it comes to choosing a broker, you should pay attention to the following points. It is crucial to get to the trading platform during trading hours at all times. You have to deal with situations quickly when things don't go according to plan and you can no longer control your orders. For this, you need to make sure that your broker offers 24-hour support. It is also worth paying attention to commissions. Accordingly, you must know in advance what assets you want to trade. Is it enough to trade stocks? Or do you want to trade options or other financial products? What offerings would you like to take advantage of? Would you like to use real-time price charts or other offers? In that case, you need to read the information material carefully. You should learn about all the possible offers of each broker to buy the services of the best one. Don't choose the cheapest one, choose the one you feel comfortable with.
Comparison of Brokers
| Broker | Regulation country | Investor guarantees | Taxes and fees on US securities | Minimum deposit | Account opening time | Operating markets |
|---|---|---|---|---|---|---|
| Fusion Markets Open account | ||||||
| Swissquote Open account | ||||||
| IC Markets Open account | ||||||
| MEXEM Open account | ||||||
| Oanda Open account | ||||||
| Tickmill Open account | ||||||
| Capital.com Open account | ||||||
| IG Open account | ||||||
| Admiral Markets Open account | ||||||
| Saxo Bank Open account | ||||||
| XTB Open account | ||||||
| Interactive Brokers Open account |
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