The best 5 Online Trading accounts in comparison

Introduction:

With the current pandemic, people have been changing their professions to easily earn money at home. One of the most well-known types of jobs that can be done in the comfort of your own home is trading. No wonder more and more people are jumping on the bandwagon in hopes of making a living out of this risky profession.

But trading does not always have to involve risk. With the right amount of knowledge, research, and data, you can surely lessen the chances of loss or even heighten your chances of gain. The trick is finding the right broker to partner with.

This broker should have all the necessary tools and educational materials that you need to succeed in the trading scene. Here is a comprehensive review of the five best online trading accounts that offer everything you might need to jumpstart your career.

List of the 5 best Online Trading accounts:

Account:
Review:
Regulation:
Fees & Spreads:
Assets:
Advantages:
Open account:
1. XTB
XTB logo
More than 10
Starting from 0.1 pips spread
(no commission)
2,000+
+ Huge variety
+ Best platform
+ Best service
+ Personal service
+ No minimum deposit
Live-account from $0(Risk Warning: 77% of retail accounts lose money)
2. BDSwiss
BDSwiss logo
CySEC, FSC, FSA
Starting 0.0 pips + $ 5.0 commission per 1 lot traded
1,000+
+ Individual offers
+ Trading signals
+ Raw Spreads
+ Leverage up to 1:500
+ Best education
+ Personal support
Live-account from $100 (Risk Warning: Your capital can be at risk)
3. Markets.com
Marketscom logo
CySEC, FSCA, ASIC, FCA
From 0.6 pips variable
(no commission)
2,000+
+ Easy to use
+ PayPal
+ Professional tools
+ Low spreads
+ Personal support
Live-account from $100(Risk Warning: 72.1% of accounts lose money)
4. Libertex
Libertex logo
CySEC
0.0 pips + 0,01% commission of the trading volume
300+
+ Beginner-friendly
+ No spread trading
+ 50+ Cryptocurrencies
+ Professional charting
Live-account from $100(Risk Warning: 83% of accounts lose money)
5. Etoro
Etoro logo
CySEC, FCA, ASIC
Starting 1.0 pips variable
(no commission)
3,000+
+ Best for beginners
+ Social Trading
+ Cryptocurrencies
+ PayPal
+ No commissions
+ Copy portfolios
Live-account from $50(Risk Warning: 76% of accounts lose money)

1. XTB

XTB is proud of being one of the largest forex and CFD brokers globally, giving clients access to over 2,000 assets. Since its inception in 2004, it has gained over 280,000 registered customers and won numerous awards.

This particular broker is regulated in multiple countries. XTB MENA has a category 3A license issued by the DFSA or the Dubai Financial Services Authority. The Comisión Nacional del Mercado de Valores regulates XTB Spain. 

XTB UK operates under license 522157 issued by the FCA or the Financial Conduct Authority. XTB Europe has been issued a license with the number 169/12 by the CySEC or the Cyprus Securities and Exchange Commission. Lastly, XTB International has been regulated by the Belize International Financial Services Commission.

With more than 57 forex pairs, 1846 stock CFDs, 135 ETF CFDs, 30 indices, and many more, this broker will surely diversify your portfolio as well as expose you to a wide variety of trading instruments to jumpstart your trading career easily.

These assets can be traded on XTB’s sophisticated trading platform known as the xStation 5. This platform can easily be accessed via Firefox, Safari, Chrome, and Opera. A desktop app and a mobile app are also available for download if you would rather have separate software. It is free to download, and it doesn’t take up much space on your desktop or mobile device.

XTB’s demo account feature also comes in handy for beginners as well as seasoned traders. Beginners often use it to practice or develop their trading skills and test their knowledge before they start trading live. Professionals also use it to test out new things to see if their strategy is viable for the asset they want to trade.

The demo account is free and can be accessed without making a deposit. You can trade on XTB’s platform using virtual funds for 30 days. If the demo account isn’t enough to give you the knowledge you need, XTB also has numerous educational materials readily available on its website. You can even access market news, price tables, as well as the market calendar, to better prepare yourself for your next or first trade.

XTB’s customer support representatives are available 24/5 via the live chat system on its website. You may also reach them by giving them a call. Chat support, as well as phone support, is available in different languages. These languages are Arabic, Thai, Vietnamese, Turkish, Slovak, Spanish, Romanian, Russian, Portuguese, Polish, Italian, Hungarian, German, French, Czech, and English.

Keep in mind, however, that XTB is not available for traders from the United States, Romania, Kenya, Iran, Iraq, Syria, Cuba, Uganda, Ethiopia, Bosnia and Herzegovina, Pakistan, Turkey, India, Israel, Mauritius, Slovakia, Singapore, Japan, Canada, and Australia.

Advantages of the XTB online trading account:

  • Multiple regulated online broker
  • No minimum deposit ($0)
  • Free demo account
  • Professional trading platform
  • Free analysis
  • Free education, webinars, support
  • Low and competitive spreads
  • More than 2,000 assets to trade

(Risk warning: 74% – 89% of retail CFD-accounts lose money)


2. BDSwiss

BDSwiss has been offering its services to traders around the globe since 2012. There are currently 1.5 million registered accounts from over 150 countries. BDSwiss has also expanded the name by creating companies like BDS Markets, BDSwiss GmbH, BDSwiss Holdings plc, and BDSwiss LLC.

BDSwiss is regulated by various well-known regulatory bodies such as the NFA or National Futures Association, the CySEC or the Cyprus Securities and Exchange Commission, and many more.

This particular broker offers different types of asset classes for its clients to trade. This also helps expand or diversify a trader’s portfolio, which makes it ideal for both beginners and professionals alike.

All in all, there are 51 forex pairs to trade. Included in the 51 pairs are both minor and major currency pairs such as USD/CHF, EUR/USD, and USD/JPY. Additionally, BDSwiss clients can trade shares or stocks from countries like the United Kingdom, the United States of America, France, Germany, Netherlands, Spain, and Switzerland.

Additionally, there are indices, cryptocurrencies, as well as commodities that are tradeable on BDSwiss’ platform.

BDSwiss utilizes its proprietary trading platform as well as the MetaTrader 4 and MetaTrader 5. Additionally, BDSwiss also has a mobile application, so you can easily trade wherever you are. If you’re not quite sure as to whether BDSwiss is the broker for you, you can try out its platform using a free demo account.

To access this feature, you simply need to download the application or access the platform via any web browser, sign up with your complete name, country of residence, phone number, date of birth, email address, and password.

As soon as you finish filling out the registration form, you will be given access to the platform and all its features. You will be given $10,000 in virtual funds so you can easily test out the platform without risking your hard-earned capital. If $10,000 isn’t enough, you can contact a customer support representative to add more virtual funds to your demo account.

BDSwiss also has tons of educational materials such as eBooks, seminars, a learning center, and even a glossary for all the trading terms and their corresponding meaning. To help broaden your knowledge, there are a lot of research and analysis tools that anyone can use.

There are no hidden fees when using BDSwiss. However, it’s important to note that there are overnight charges, spreads and commissions, and an inactivity fee. Additionally, the minimum deposit for live accounts is $100. For more information on these fees, you can check out BDSwiss’ website 

If you encounter any problems, you can contact this broker’s 24/5 customer support team via email or phone. The support team supports seven languages. Below are the different languages and corresponding phone numbers.

Portuguese – +35 1308810611
English – +44 2036705890
Spanish – +34 910756937
German – +49 3021446991
Italian – +39 0689970124
French – +33 184671942
Greek – +30 2111984082
 

Facts about the BDSwiss online trading account:

  • Multiple regulated platform
  • Free $10,000 demo account
  • Low minimum deposit of $100
  • More than 1,000 assets to trade
  • Different leverages available
  • Education, webinars, and signals
  • MetaTrader 4/5, Webtrader, App
  • Multi-language support

(Risk warning: Your capital can be at risk)


3. Markets.com

Founded in 2008, Markets.com has been providing its clients with various options and amazing service. It has won “Best Trading Platform” in 2020 and continues to add more awards to its collection. Markets.com is also known for being a part of Finalto Limited, a former TradeTech Group.

Finalto Limited is regulated by the FSC or the Financial Services Commission, FCA, and CySEC. This is one of the most well-known regulatory companies that only regulates trustworthy brokers like Markets.com. You can even access Markets.com’s Privacy Policy, Risk Disclosure Statement, and other important documents on its website.

Markets.com offers multiple tradeable assets on its proprietary platform. There are over 2.000 stocks or market shares from various countries like the United States, United Kingdom, Sweden, Italy, Spain, Denmark, Australia, Germany, Netherlands, Finland, Hong Kong, Greece, Norway, South Africa, and other countries worldwide.

There are 67 forex pairs in total, including the seven major currency pairs as well as some minor and exotic pairs. Also, there are 60 ETFs or Exchange-traded funds to trade as well. You can see a complete list of the available ETFs on the website.

Below are the other five asset classes available on Markets.com:

  • Currencies
  • Commodities
  • Stocks
  • Indices
  • Cryptocurrencies

If you check out the list of available assets on the website, you will see its corresponding leverage, spread, and trading session.

Markets.com, as previously mentioned, utilizes its own award-winning and user-friendly trading platform. But for traders who are more accustomed to using the well-known MT4 or MT5 platform, those are available as well. These are also available as mobile applications so you can trade on the go.

This broker, just like most brokers, offers a free demo account for potential clients. This demo account comes with virtual funds so you can familiarize yourself with Markets.com’s platform or simply practice trading or testing out your strategies before your next live trade. However, keep in mind that if there is no new activity on your demo account within 90 days, Markets.com will automatically close that account, and you will need to contact them if you want to reopen it.

Creating a demo account is the same as creating a live account. Fill up the sign-up form found on the website. The form will ask for basic details such as your email address and password. You will also be required to choose your preferred currency. Your choices are GBP, EUR, USD, DKK, AUD, PLN, NOK, ZAR, CHF, or SEK.

If you still find yourself struggling when trading, Markets.com has a knowledge center as well as a set of useful tools that will help you learn more about trading the different asset classes available on this particular platform. 

Markets.com’s dedicated support team is also available 24/5 via live chat or phone. Getting in touch with them is fairly easy, and the representatives are knowledgeable and quick to respond. Additionally, this specific broker’s website supports English, Spanish, and Arabic. The website is easy to navigate as well as pleasing to the eye.

It is also worth noting that Markets.com does not cater to traders from the United States, the Russian Federation, Japan, Brazil, Canada, Belgium, Israel, Turkey, New Zealand, Syria, Iraq, Iran, Hong Kong, Puerto Rico, Singapore, and India. 

Facts about the Markets.com online trading account:

  • Multiple regulated company
  • Part of a stock-exchange listed company
  • Free demo account
  • Low minimum deposit of $250
  • Trade more than 3,000 markets on one platform
  • Professional trading platforms available
  • Personal customer support
  • Low and competitive spreads
  • No commissions

(Risk warning: 74% – 89% of retail CFD-accounts lose money)


4. Libertex

Libertex is one of the oldest brokers on our list. Created in 1997, this broker is known for being the trading company of the Indication Investments Ltd. Currently, this broker has over 2.9 million registered clients from more than ten countries worldwide. Libertex has won numerous awards during its 20 plus years in the market. 

This broker is closely monitored and regulated by the CySEC or the Cyprus Securities and Exchange Commission, and its license number is 164/12. They are transparent when it comes to their fees, and you can access Liberte’x privacy policy as well as important documents with a click of a button.

With Libertex’s own trading platform, you gain access to multiple assets that are sure to diversify your portfolio and help hone your skills as a trader. Among these assets are stocks of famous companies such as Apple, Microsoft, Google, Amazon, Tesla, Facebook, and many more.

There are also major, minor, and exotic forex pairs like EUR/USD, GBP/USD, USD/NOK, CHF/SGD, and so much more. You can see all the available forex pairs on Libertex’swebsite. But Libertex does not only offer forex and stocks.

All these can be traded on Libertex’s web-based platform or mobile application. The application is free and is available for download from the Apple App Store, Huawei AppGallery, and Google Play Store. There is also a free demo account feature that you can use to see if the platform performs the way you want it to.

A demo account will surely help beginners and professionals hone their skills or even devise new strategies on how to tackle the market or asset they choose to trade. Just like most brokers, Libertex also has an education tab as well as a blog, so you can see the latest news and learn a thing or two about trading.

If you are ready to trade live, a minimum deposit of 100 EUR is required by Libertex. However, the next time you deposit funds to your account, the minimum deposit will be lowered to 10 EUR.

If you have any concerns or additional questions, you can contact Libertex’s customer support representatives via the live chat system on the website, or you can email them at [email protected]. When reaching out via email, you may have to wait a day before you get a response, but they will surely answer any of your queries and will gladly assist you. The website can be viewed in different languages for ease of use. These languages are English, Portuguese, Polski, Italian, Dutch, Spanish, French, and German.

Facts of the Libertex trading account:

  • Regulated online broker
  • €100 minimum deposit
  • Free demo account with virtual balance
  • Multiple assets to trade
  • No spread trading – only small commissions
  • MetaTrader, Web-platform, Mobile app
  • Easy to use platform

(Risk warning: 74% – 89% of retail CFD-accounts lose money)


5. Etoro

Traders and non-traders alike have heard of this broker. May it be through a YouTube ad, Facebook ad, or a friend who uses this broker, eToro has surely grown since its inception. Because of its extensive reach and aggressive marketing now have more than 20 million clients from over 100 countries. 

This broker has 49 tradeable currency pairs, consisting of both major, minor, and exotic pairs. There are also more than 200 ETFs for users of this broker to trade, which gives them maximum exposure to the available assets on the market.

Stocks can also be traded with eToro. Some of the most well-known names like Microsoft, Apple, Tesla, Facebook, and Coca-Cola can be found on the list of stocks available on eToro’s trading platform. Additionally, there are various commodities, indices, and cryptocurrencies available on this broker’s platform.

This broker’s award-winning platform can also be tested with the use of a demo account or virtual portfolio. This feature is completely free, and all you have to do is sign up and download the application or access the platform via your browser of choice.

Registration is quick and easy. All you need is your email address. Another way to sign up is by connecting your Facebook or Google account to eToro. This makes it easier for you to create an account so you can start trading as soon as possible.

You will have a virtual balance of $100,000 that you can use to trade all the available assets with zero risks. You will gain access to the platform along with its various trading tools, and you can even interact with other brokers using eToro to get a second opinion.

When trading with a live account, keep in mind that the minimum deposit required by the broker depends on your country of residence. It can be as low as $50 and as high as $10,000. You can see a complete list of this as well as trading conditions on the website.

The trading platform is so easy to use, it’s almost impossible to get lost. However, if you do have any problems with the platform and just can’t seem to find your way around it, there is a help desk that can direct you to where you need to go and give you the necessary information you need. There are no hidden fees, and you can get all the information that you need on the website.

The platform also supports multiple languages for ease of use. These languages are English, Italian, Spanish, Russian, German, Chinese, Arabic, French, Polish, Norwegian, Dutch, Swedish, Portuguese, Czech, Romanian, Vietnamese, Finnish, and Thai.

The downside, however, is eToro is not available for traders from Saudi Arabia, India, Singapore, New Zealand, Hong Kong, Canada, Japan, Turkey, Madagascar, Iran, and Macao. There are, however, many alternatives out there.

Facts about the eToro trading account:

  • Regulated by multiple regulators
  • Minimum deposit from $50
  • Accepted in a lot of countries
  • Free demo account with virtual money
  • More than 3,000 markets (CFDs, stocks, indices, crypto, forex, and more)
  • Spreads from 1.0 pips
  • Stock trading without commissions
  • User-friendly trading platform
  • Multilanguage support

(Risk warning: 67% of retail CFD-accounts lose money)


What is an Online Trading account?

Online Trading Accounts allow retail traders and investors to trade at a low cost as well as access to the market and the available assets at any time. Before online trading accounts were a thing, those that would want to invest needed to contact a broker through a call or text message and let them make a trade for you.

Investing through a traditional broker entailed a lot of complications that include late trades and higher brokerage costs. With the online trading account, however, clients are able to enjoy fast executions while bypassing fees that would come from consulting a real-live broker. 

Nowadays, online trading accounts even provide research materials for all their clients to gain expert advice on the market. These trading accounts can be accessed on multiple devices that include computers and even Android and Apple mobile phones.

  • Desktop trading
  • Mobile trading (app)
  • Web trading (browser)

Online brokerage accounts also allow multiple assets to be traded but still would depend on their scope of services. However, most of the top brokerages offer stocks, currencies, indices, and commodities as assets.

Usually, users can freely change their leverage without directly contacting customer service or even using margin. Although a few brokerages would require you to contact a designated person for these concerns, the process is hassle-free and doesn’t require any more paperwork.

With the rise of new services and features, most online brokers already offer 0 commission trades as well as a full range of services that include charting, even trading derivatives. With these kinds of accounts, clients are able to monitor their assets to the next level and plan ahead in anticipation of future market conditions.

Some of these accounts go the extra mile to provide an in-depth analysis of trade analytics and portfolio performance. These help users identify their strengths and weaknesses and would further improve their performance.

How to open an Online Trading account

Depending on your broker of choice, the method of creating an online trading account varies. For some, you will need to fill in a form that requires a lot of information, such as your email address, phone number, complete name, etc. 

On the other hand, some brokers only require you to input your email or simply link your social media account. Once you finish filling out the form or signing in, you will need to verify your email. After you verify it, you will need to deposit funds to your online trading account, so you can start trading live.

Open your online trading account

What do you need for opening an online trading account:

  • Email-adress
  • Full name
  • Secure password

Verification process

As mentioned above, you will only need to verify your email address for some, if not all, brokers. However, when withdrawing funds, brokers will require you to verify your proof of address, and you will also need to send in a valid ID so they could process your withdrawal.

This process exists to ensure that your funds are safe. It may be a hassle to some trades, but it is necessary for maximum safety. 

  • Insert your personal data
  • Verify your phone-number
  • Verify your ID (passport, ID)
  • Sometime you have to verify your adress

Demo online trading account

The brokers listed above all have a free demo account feature. Beginners or professional traders can use demo accounts. Usually, traders use a demo account to check out the features of a certain platform before they deposit funds to their account. This is one way of knowing if a broker is legit and puts their clients above anything else.

Real a demo account for online trading

A demo account can also act as a training ground for newbies. Here, they can apply what they have learned or even learn a new thing or two. Professionals also use this to test out their theories or strategies to better prepare themselves for their next live trade. 

Demo accounts come equipped with virtual funds that you can use. The amount of virtual funds depends on the broker. Some brokers have a 30 day trial period. Others don’t. Some also give you the option to replenish your funds once you’ve lost them. 

Deposits – How to deposit money

Before you decide on which broker to partner up with, make sure you familiarize yourself with their minimum deposits as well as the required amount for each account type if there’s more than one. The deposit process is also quite easy since you can do it from the broker’s platform. 

Multiple payment methods are also supported to ensure that you can easily add funds to your account without delay. These methods range from credit cards (Visa and MasterCard), wire transfer, and online wallets like PayPal, Neteller, Skrill, and many more. Usually, there are no deposit fees charged by the broker. But it wouldn’t hurt to double-check to prevent any misunderstanding. 

Popular payment methods for deposits

Popular deposit and withdrawal methods:

  • Bankwire
  • Credit Cards
  • Debit Cards
  • PayPal
  • Electronic Wallets (Skrill, Neteller, ADVCash, and more)
  • Cryptocurrencies

Withdrawals – How to withdrawal money

The payment methods offered by your broker also doubles as a withdrawal method. To withdraw funds, you will need to send in a request via your broker’s platform, and they will need to verify your proof of address and ID. 

Withdrawals usually take an hour to process, but it can take a couple of days before it reflects on your account, depending on your broker. Also, keep in mind that there may be withdrawal fees when you opt to withdraw your funds using a credit card. Again, double-check to avoid any problems in the future.

Fees for an Online Trading account

When it comes to fees, it varies depending on the broker. But rest assured, there are no registration or hidden fees. All the brokers listed above are transparent about their charges, and you can easily access their terms and conditions via their websites.

Conclusion: Online trading accounts are easy to open

Each of the brokers listed above all has its own pros and cons. Depending on how you see things, what you consider to be a good perk may be a deal-breaker for other traders. 

The information above will help you make an informed decision when it comes to choosing which broker to partner with for your online trading journey. However, you should do your own research as well and check out each of their websites before you make a decision.

(Risk warning: Your capital can be at risk)


Most asked questions about online trading accounts:

Is online trading safe?

This depends on the broker you choose to partner with. Make sure to double-check if any of the well-known regulatory companies regulate that broker. Also, the website of said broker should be SSL Certified to ensure that all your personal data, bank details, and log-in credentials are safe from unwanted third parties like hackers. 
When trading online, there are always risks involved. So to avoid huge losses, do your research, get a second opinion, practice, and only invest what you can afford to lose.

Can I open a trading account online?

Of course! Opening an account is very easy, and it usually doesn’t take more than a minute. The verification process for some brokers is also straightforward to ensure that you can start trading with them as soon as possible. 

Can I start trading with $100?

You can definitely start trading with only $100 if you partner with the right broker. Most brokers require a minimum deposit of $200, but if you do your research and look hard enough, you’ll find companies that only require at least $50 to $100 as your initial deposit. 

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