Before you start trading, you need a broker. Therefore, choosing the correct broker is one of the most important decisions you will make before trading.
There is a wide choice of brokers out there, and because of this, sometimes the choice can be overwhelming.
Below are some brokers for your consideration. Each has its differences, test their demo accounts and see which one suits your needs.
All the brokers we recommend are regulated.
EconAlerts is affiliated with the recommended brokers, which means if you sign up using our link, we will earn a commission, which is used to fund the website’s running costs.
Probably the most critical question. Brokers regulated by a top regulatory body such as the FCA (UK) keep your funds safe. A regulated broker segregates their client funds from their company funds.
They also most likely have a physical location, and there is a dedicated support team if you need help or information.
At EconAlerts, we only partner with regulated brokers, so all the brokers advertised on our site are regulated.
Most brokers have several methods of withdrawal and deposit. The most common forms are bank transfer, credit/debit card, PayPal, Skrill, or other online payment platforms.
Make sure the broker you choose allows the deposit and withdrawal methods that you want to use.
When it comes to the platform the broker uses, this is an important consideration. Some brokers use their propriety platform. These platforms can be less customisable than you may need, but this is not always the case. Other brokers will use common trading platforms such as MetaTrader 4 (MT 4). These platforms usually give traders more flexibility with trading, such as using trading bots or Expert Advisors that can trade for you.
Stock, Forex, Commodities, Cryptocurrencies are just some of the types of assets you can trade. What type of asset you want to trade is a personal choice, but you will need to make sure the broker you choose allows you to trade the asset type you want.