I talk about a lot of different platforms on this blog. But I wanted to share a post about the actual brokers I use on a regular basis.
I've used all of these brokers – made deposits, opened and closed trades, made withdrawals etc. This is a best way to review a broker and hopefully by sharing some real world trading, you'll be able to make a more informed decision on where to trade.
I've focused on forex brokers for this post, but these platforms also allow you to trade commodities, stocks, cryptos and more.
Brokers I currently use:
I probably talk about eToro the most on this blog. And thats because I believe that copy trading is going to keep on getting bigger and bigger. Copy trading taught me a lot about trading, simply by following guru traders who actually knew what they were doing.
eToro is currently the largest copy trading platform in the world and doesn't really have any competitors. While other platforms offer copy trading features, I haven't been able to find one that has a good selection of profitable traders to follow + an easy to use interface.
When people ask me which platform is best for beginners looking to trade forex, I usually point them towards eToro. They offer a free practice account and a really simple interface that anyone can understand.
I've only begun trading on Whaleclub over the past couple of months. But I love it. Whaleclub is a crypto only broker. This means the only way to deposit funds is through Bitcoin or Dash. There are certainly some nice advantages to not dealing with fiat currency, such as instant deposits, no need for verification etc etc.
From a trading perspective, Whaleclub has a great interface and some of the best web based charts available. Although it doesn't offer a huge selection of assets that can be traded, which is one downside. I expect this to grow in the future as the platform gets bigger.
Whaleclub has a nice community chat feature. I find myself checking it constantly through the day – its fun to hear what other traders are thinking and why they are making trades.
Other Brokers I'm testing:
These are some of the other brokers that I've used/using but not on a regular basis.
I use XM when I want to use the MT4/5 software. Some of the forex indicators that I test out integrate with the software and so I need to use a broker like XM. If your a pro trader, then XM might be the broker for you. They have very competitive spreads and accounts with spreads for pro clients.
I really like EasyMarkets deal cancellation feature that allows you to cancel a losing trade for free. This is something I should really be using more often. I don't like the interface as much as other brokers and find some things annoying to use. There are no stocks on the platform, and is targeted more towards Forex traders.
I've just discovered Evolve Markets. Its similar to Whaleclub in that its digital currency only, but they use the MT4 platform. I'll be trading on there over the coming weeks and will probably be posting my results on the blog. If you're looking for a broker that accepts Bitcoin and uses MT4, try Evolve.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.