Imagine searching for a trading platform. You come across one with a great review, followed by an app store rating. Reading through the thousands of comments, you notice nothing but satisfied customers. How does this make you feel? Of course, you feel confident in that platform and are now even more interested in them. Essentially, reviews are social proof that you’re likely to have a positive experience like others have.
So, how often do you factor in customer reviews when making your choices? Studies like BrightLocal say that 84% of people take Google Reviews as personal recommendations. This stat aside, psychologists say that when people are undecided about a decision, they tend to mimic the actions of others. Therefore, customer reviews and star ratings enormously influence online trading.
Here at Invezty, we understand that positive feedback is a vote of confidence. So, we factor in thousands of customer feedback when reviewing a service. We visit Trustpilot, the App Store, the Play Store, and other review platforms to find out what customers say. These reviews can rescue you from falling into a pit and encourage you when hesitating about the next move.
Considering this, sharing your opinion is caring about others. Tell us what you think about these brokers and compare it with other users’ experiences and testimonials here.
-
Visit siteGeneral RatingCryptocurrencies AvailableFeesPayment MethodsAccount MinimumDigital WalletMobile AppInvezty is not an investment advisor. Please do your own research before making any investment decisions.4.7
200+YesBank Transfers, Paysera, Skrill, Credit/Debit Cards, Neteller, International Wire Transfers, Western UnionFreeYesAndroid, iOSWe signed up for investment accounts at Binance, and there were no registration charges. The exchange also does not have a minimum deposit requirement, thus allowing us to get started with any amount of money we could afford.
We analyzed Binance’s fee structure and concluded that it is among the most affordable cryptocurrency exchanges we have tested. Its maker and taker fees are low, but this depends on the trading volume and Binance Coin balance. Simply put, higher-volume trades are subject to low trading fees.
Regarding transactions, Binance does not charge deposit fees for cryptocurrency deposits. However, investors will incur withdrawal charges depending on the crypto token they use to transact.
You can also transact using fiat currencies at Binance. While some currencies do not attract deposit fees, others do. For instance, you will pay a 0.65% deposit fee when you make deposits using the AED currency via online banking. Withdrawal charges on fiat currency transactions also apply depending on the currency you transact with.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile AppDerivative products are highly leveraged, carry a high level of risk and may not be appropriate for all investors.4.7
$100Credit/Debit Cards, Neteller, Skrill, Online Banking, FasaPay, Crypto, and more0.0 pips0.0 pips0.0 pips0.0 pips0.0 pipsMT4, MT5, TradingView, cTrader, WebTrader, Mobile Trading App, MT5 Mobile TraderASIC, CySEC, FSCA, FSAYes, up to €20,00010,000+70+10+ (CFDs)290+YesAndroid, iOS
The outstanding perks of using FP Markets include free deposits or withdrawals. This broker goes above and beyond by covering all internal bank fees arising from international transfers. Moreover, you can start your journey with a free demo account before switching to a live account. Keep in mind that FP Markets’ minimum deposit requirement is $100.
The other commendable thing is this broker has reduced non-trading costs and charges. Take inactivity fees as an example. Unlike many of its peers, FP Markets doesn’t penalize dormant accounts. So, you can stay logged out of your account for as long as you like without fretting over accumulating fees.
That said, we encountered numerous other FP Markets fees and costs. Although you can open a Standard account, which comes with 0 commissions, you’ll still face variable spreads, starting from 1.0 pips. On the other hand, IRESS, FP Markets’ sophisticated premium platform, has commissions that vary depending on geographical location. IressTrader/ViewPoint also has a mandated $60 fee. Luckily, there are free alternatives like MT4 and MT5, which have no platform fees.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.4.7
$0Credit/Debit Cards, Bank Transfer, Skrill, Neteller0.10%From 0.6 ptsFrom 0.1 ptsFrom 0.7% ptsFrom 0.4 ptsSpreadex’s Online Trading Platform, TradingViewFCAAvailable for some clients1000+60+Yes200+NoAndroid, iOS
From our assessment of Spreadex’s fees, we concluded that this broker offers one of the most cost-friendly platforms. Why? For starters, Spreadex has $0 minimum deposit requirements. That means you can deposit whatever you can afford and start trading immediately. Moreover, while funding your account, you won’t have to pay any deposit fees- it’s free! The same applies to withdrawals.
That is exceptional news since Spreadex supports myriad payment methods, from debit and credit cards to Apple Pay and Easy Bank Transfer. You can use these options without fretting over any charges undermining your profits.
We also recommend Spreadex because this broker doesn’t penalize dormant accounts. Your Spreadex trading account can remain inactive for an extended period without attracting inactivity fees, which separates this company from its peers.
Spreadex offers exceptional rates on spreads. This broker’s spreads start from 0.6 pips for CFD trading. This trading broker should be your go-to if you want lower overall trading costs and improved profit margins.
That said, Spreadex charges overnight funding for shares rolling positions. If you keep a position open through the close of the relevant exchange, Spreadex will keep it open for the following day’s trading. But that will attract a funding adjustment. The fees you’ll incur at any given time will be a combination of the Adjusted ARR and Spreadex’s charges. However, holding futures overnight won’t attract any charges.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App72% of retail investor accounts lose money when trading CFDs with OANDA TMS Brokers S.A. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.4.5
$0Credit/Debit Cards, Bank Transfer, Trustly0% on US shares; from 0,15% on EUYesFree (CFDs)-YesMT5, TradingView, Mobile AppFCA, CySEC, FSAYes, offers Negative Money Protection2200+4813 (CFDs)14 (CFDs)YesAndroid, iOS
When testing OANDA, we opened a live account and funded it. We didn’t encounter any OANDA minimum deposit requirements, which was a good thing. That allowed us to start with a few dollars. While preparing to fund our account, we noticed that this broker doesn’t charge deposit fees for cash transfers, credit cards, and debit cards. The same applies to e-wallets like Neteller, Skrill, and Wise. But withdrawals aren’t entirely free.
OANDA allows traders to make one free withdrawal per month to their debit or credit cards. Anyone who exceeds this threshold has to pay. The exact fees vary depending on account currency. On the other hand, all bank-related withdrawals incur charges. The fees you’ll pay while using a bank to withdraw funds from OANDA depend on the number of bank withdrawal transactions you’ve made in that calendar month and account currency.
We also noticed that OANDA has overtime financing charges. If you keep a position open after a trading day has ended, OANDA assumes you’ve held it overnight and either credits or charges your account. Visit OANDA’s Financing Costs page to learn more.
Lastly, OANDA charges a $10 monthly inactivity fee on accounts that have been dormant for 12 or more months. If OANDA deems your account legible for inactivity fees, the broker will levy it until you terminate the account, resume trading, or deplete your account balance.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App76% 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.4.5
$100Credit/Debit Cards, Wire Transfer, Paypal, Skrill, Neteller, Perfect Money, BoletoFrom 0.2 pipsYesFreeFrom 0.0013$0.0015 and $1.1000WebTrader, MT4, MT5, AvaOptions, Automated Trading, and AvaSocialCBI, CySEC, ASIC, FSA, FSCA, FSRA, ISAYes, up to $1,000,000600+50+19+ (CFDs)60+ (CFDs)YesAndroid, iOS
AvaTrade charges low fees for trading and non-trading services. When we started with the broker, we found the first deposit requirement of $100 or its equivalent to be low. Plus, all deposits and withdrawals at AvaTrade are free.
Commissions and spreads at AvaTrade are also low in our opinion. For instance, trading forex attracts low fees from 0.9 pips on major currency pairs. We also tried trading stocks and incurred low charges from 0.2 pips.
On the downside, AvaTrade charges a high inactivity fee of $50/£50/€50. This depends on your account currency. The fee applies should your account remain inactive for over three months. Plus, there is an annual administration fee of $100/€100/£100 after 12 months of inactivity. Other fee to expect with this broker is overnight charges for positions left overnight. Its margin rates are also low, from 3.33%, depending on your jurisdiction.
It is important to note that while AvaTrade offers social trading, accessing this feature via the DupliTrade and ZuluTrade platforms can be costly for low-budget traders. You are required to deposit at least $2,000 for DupliTrade and $200 for ZuluTrade platforms.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Copy Trading does not amount to investment advice. Your investments value may go up or down. Your capital is at risk. Other fees apply.4.4
From $50 (depending on the country)Credit/Debit Cards, Bank Transfer, eToro Money, PayPal, Neteller, Skrill, Online BankingFree1.5% or 3.0% conversion feeFrom 1% to $100FreeYes (as CFD)eToro investing platform, Multi-asset platform, Copy Trader, Smart PortfoliosFCA, CySEC, MFSA, FSRA, ASIC, FSAS, SECYes, up to 1 million € or A$4,500+5535670YesAndroid, iOS
eToro doesn’t charge any account registration or deposit fees. We signed up and funded our account without incurring any costs. Of course, we had to adhere to eToro’s minimum deposit requirements, which vary depending on geographical location. For instance, the minimum amount you can deposit in your eToro account is $100 in the US or the UK. On the other hand, people in countries like Germany and Greece can deposit as little as $50. Visit eToro’s minimum deposit page to find out more.
That said, we encountered several eToro fees and expenses during our exploration, including:
- A $5 fixed withdrawal fee: According to eToro, this fee is indispensable in covering international money transfer costs.
- Currency conversion fees: All eToro accounts are USD-centered. If you fund your account or withdraw money using any other currency, expect to pay conversion fees. The charges vary depending on PIPs and payment methods. Luckily, traders can join the eToro club and enjoy significant discounts.
- A $10 monthly inactivity fee: If you fail to log into your account for 12 or more months, you will incur a monthly $10 fee.
- Crypto fees: eToro requires crypto investors to pay a 1% buy/sell fee. As an investor, you must also cover market spreads, which vary depending on market conditions. Transferring crypto to your eToro Money digital wallet also attracts a 2% fee. The crypto asset transfer fees are capped at 1$ minimum and a $100 maximum.
- CFD spreads: Like many other brokers, eToro has CFD spreads that vary depending on assets and instruments.
-
Visit siteGeneral RatingCryptocurrencies AvailableFeesPayment MethodsAccount MinimumDigital WalletMobile AppInvezty is not an investment advisor. Please do your own research before making any investment decisions.4.4
200+$2.99 deposit commission $35 minimum deposit for Skrill 2.99% to 3.99% depends on the serviceCredit/Debit Cards, Wire Transfer, SWIFT, SEPA, QIWI, Skrill, etcFreeYesAndroid, iOS
Opening an account with CEX.IO won’t cost you a dime- it’s free of charge. That said, when funding your account, you will incur specific charges depending on your preferred payment method.
While using VISA and Mastercard, you will have to cover fees ranging from 2.99% to 3.99% and a service charge that will depend on your country of origin and service provider. The same applies to Apple Pay, Google Pay, and PayPal. On the other hand, CEX.IO requires you to pay a $2.99 deposit commission for alternative payment methods like SWIFT, domestic wire, Faster Payments, and SEPA. The other options, which include Epay, Neteller, and Skrill, charge $3 and above for deposit commissions.
Also, while funding your account, keep in mind that CEX.IO has unique minimum deposit requirements for the supported payment method. For instance, the daily minimum deposit for VISA, MasterCard, domestic wire, and Google/Apple Pay users is $20. Conversely, people who use SWIFT can’t fund their accounts with less than $300. Also, the minimum deposit for Skrill users is $35.
CEX.IO also levies withdrawals. The exact fees vary depending on payment methods. Take VISA, SWIFT, and domestic wire as an example. If you cash out from CEX.IO using VISA, you will incur a service charge (up to 3% + $1.20) and a commission of up to $3.80. On the other hand, SWIFT and domestic wire attract $2.99 deposit charges. Lastly, CEX.IO has maker and taker fees starting from 0.25% and 0.15%, respectively.
Visit CEX.IO’s Limits and Commissions page to get a detailed overview of the accepted payment methods as well as their deposit/ withdrawal limits and commissions. Also, note that you can deposit and withdraw crypto from your CEX.IO account.
-
Visit siteGeneral RatingCryptocurrencies AvailableFeesPayment MethodsAccount MinimumDigital WalletMobile AppInvezty is not an investment advisor. Please do your own research before making any investment decisions.4.4
260+From 0.05%Debit Card, PayPal, Wire Transfer, SEPA Transfer$2YesAndroid, iOS
Opening and maintaining a Coinbase account is free. You can fund your account and withdraw money using a variety of payment methods, including wire transfers, debit/credit cards, and digital wallets like Apple Pay.
While using FIAT, you may have to pay deposit and withdrawal fees depending on your chosen payment method. ACH transactions are free. But alternatives like wire transfers attract $10 and $25 deposit and withdrawal fees, respectively. That said, you can buy as little as $2 of crypto using a card or funds in your account.
Expect to pay specific fees when you purchase, convert, or sell crypto on Coinbase. Your charges will depend on numerous factors, including the order size, your preferred payment method, and market conditions. For instance, if you place an order at a stipulated market price and it is fulfilled immediately, this exchange will charge you anywhere from 0.05% to 0.60%.
If you place standard buy and sell orders on Coinbase, the platform will include a spread in the specified price. You will also encounter a spread when converting one crypto asset to another. To avoid spreads, join Coinbase Advanced, which is an advanced platform for seasoned traders.
Depending on your jurisdiction, you may stake crypto on Coinbase at no additional costs. However, the exchange will deduct a commission based on your accrued rewards and the involved asset. The standard commission for ADA, SOL, DOT, ATOM, XTZ, and MATIC is 35%. Eligible Coinbase One members can enjoy a commission of 26.3% for the same assets. On the other hand, ETH attracts a 25% commission.
Lastly, Coinbase charges asset recovery fees. If you send an unsupported asset to your Coinbase account, you may try to recover it. If it’s eligible for recovery, the exchange will charge a network fee. If the recovery is over $100, expect to pay a 5% fee. But if it’s less than $100, you won’t have to pay a dime.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App82% 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.4.4
$100Bank Wire Transfer, Credit/Debit Cards, Paypal, SkrillYes0.6 pips to 1.7 pipsFree* (Additional fees may apply) *Availability subject to regulationsVariable spread0.02% to 0.40%+Plus500 WebtraderFCA (FRN 509909), CySEC (#250/14), ASIC, MAS, FSA, SFSA, EFSRA, DFSA, FSCA, FMAYes, up to £85,0002000+ (CFDs)60+ (CFDs)25 (CFDs)100+ (CFDs)YesAndroid, iOS
One thing we love about Plus500 is that the platform offers most of its services without charging a dime. Moreover, the company practices optimum transparency regarding any costs or charges. While trading on Plus500, we enjoy free deposits and zero internal withdrawal fees.
However, we had to incur reasonable charges, courtesy of the buy/sell spreads. The good thing is this broker lets you choose between dynamic and fixed spreads. We preferred fixed spreads since they allowed us to minimize risk during high volatility periods, especially when we were trading with smaller stakes. But, if you are a fan of swing trading and often deal with higher balances, you can check Plus500’s variable spreads. And don’t worry about paying commissions because Plus500 supports commission-free trades.
Depending on your trading activities on Plus500, you may also incur the following fees and costs:
- Overnight funding: If you open a position and fail to close after a specific cut-off time, otherwise known as the Overnight Funding Time, Plus500 may add or subtract a certain amount of overnight funding from your account. Plus500 uses this formula to determine the exact amount of overnight funding to charge you: Trade Size x Position Opening Rate x Point Value x Daily Overnight Funding %.
- Currency conversion fee: While trading on Plus500, you will incur currency conversion charges every time you dabble with an instrument whose currency denomination differs from your trading account’s currency. During our test, Plus500’s currency conversion fee was up to 0.7% of each trade’s net profit and loss.
- Guaranteed stop order: Plus500 has a unique order type that guarantees the stop loss level even in highly volatile markets. You can use it to minimize losses and maximize returns, but it’ll cost you money. The fee comes in the form of a wider spread.
- Inactivity fee: Suppose your Plus500 trading account stays dormant for over three months. Your company will charge you up to $10 per month. This fee enables Plus500 to cover the costs of maintaining your inactive account.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile AppCFDs are leveraged products and carry a significant risk of loss to your capital, as prices may move rapidly against you and you may be required to make further payments to keep any trades open. These products are not suitable for all clients, therefore please ensure you fully understand the risks and seek independent advice.4.4
$0Credit/Debit Cards, Bank Transfer, Skrill, NetellerFreeFrom 0.1 pipsYes (CFDs)FreeYesxStation 5, xStation MobileFCA, KNF, DFSA, FSCYes, up to £85,0002800+70 (CFDs)27 (CFDs)300YesAndroid, iOS
If you plan to open an XTB account and fund it, here’s some good news: XTB doesn’t charge any deposit fees. Moreover, you can use payment methods like bank transfers, PayPal, Skrill, and credit/debit cards. Furthermore, you can start trading with any amount within your budget since no XTB minimum deposit requirements exist. But note that if you fund your account with a digital wallet like Skrill or Neteller, you may incur some charges.
That said, there are several fees you may encounter while using the XTB online trading platform. Let’s begin with currency conversion charges. If you trade any instrument valued in a currency different from your account’s base currency, you will incur a 0.5% conversion fee. But that’s during weekdays. On weekends, the commission can go as high as 0.8%.
Regarding withdrawals, XTB charges nothing for basic transactions above $50. But those below $50 can attract an additional commission. Additionally, if your account stays dormant for over 12 months and you don’t make any cash deposits for the last 90 days, XTB will levy a $10 monthly inactivity fee. The fee will stop taking effect automatically when you start trading again.
Also, while trading on margin, you may have to pay overnight financing charges. These charges cover the costs of rolling your position to the next day. The exact fee you’ll pay at any given moment will depend on the market you are trading.
-
Visit siteGeneral RatingWallet TypePriceFeesCryptocurrencies AvailableHardware Wallet SupportedCustomer ServiceMobile AppCoinbase will NEVER ask you for your Private Keys or Recovery Phrase. Do not share these with any person or site, or you could lose access to your wallet, or have your digital assets moved out of your wallet by an attacker.4.4
Self-custody walletFreeYes1000+Yes24/7Android, iOS
The Coinbase wallet costs nothing—it’s free to acquire and set up. That said, we encounter some charges while using the Coinbase wallet, including gas fees. These are transaction costs that involve the Ethereum blockchain. Gas fees act as remuneration for validators, who are professionals who secure and maintain the network. Gas fees can increase or decrease depending on network capacity, demand, and supply. Significant spikes often happen when the network is congested.
With that in mind, the Coinbase wallet doesn’t have transfer charges. So, you can transfer cryptoassets from your Coinbase wallet to another wallet without paying a dime. Moreover, Coinbase offers free storage services. You can keep crypto in this wallet for as long as possible without fretting over spiking charges.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App65% of retail investor accounts lose money when trading CFDs with this provider.4.3
Free (for Classic account)Credit/Debit Cards, Bank TransfersFrom $1From only 0.5 pipsYes (depends on account type)From $1Yes (depends on account type)SaxoInvestor, SaxoTraderGO, SaxoTraderPROFCA, MAS, FSMA, ASICYes, up to €100,00023,500+185+207,000+YesAndroid, iOS
We love Saxo because not only is this broker popular, but it also prioritizes transparency. The official trading site outlines every fee or cost you might incur while trading with it. Here’s a summary.
Saxo charges commissions on some assets. Investing in mutual funds is commission-free. However, financial instruments like stocks, futures, and ETFs attract commissions starting from $1. Others, like listed options and bonds, have commissions starting from $0.75 and $0.05%, respectively.
If you trade an asset in a currency different from your account’s base denomination, Saxo will charge you currency conversion fees. The good news is this fee doesn’t apply to marginal collateral and can never exceed +/- 0.25%.
Saxo also charges financing rates on margin products. Suppose you get funding from this broker and use it to open a position in a margin product and hold it overnight. Saxo will levy financing charges, which will factor in commercial product markup or markdown and this broker’s bid or offer financing rates.
As an investor, you may also incur annual custody fees if your account holds stock, bond, or ETF/ETC positions. The exact will vary depending on your account. Classic, Platinum, and VIP accounts attract up to 0.15%, 0.12%, and 0.09%, respectively.
If you open a Classic Saxo account, expect to pay $50 whenever you request online reports to be emailed to you. On the other hand, as a Classic or Platinum account holder, you can pay $200 and add an instrument to your platform.
But here’s some good news: online deposits and withdrawals are free on the Saxo trading platform. Furthermore, this broker charges zero inactivity fees and has no minimum deposit requirement.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App74% 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.4.3
$100Wire Transfers, Credit/Debit Cards, PayPal, Neteller, Skrill0.1% per trade with a minimum charge of $10From 0.1 pipsSpread from $30From 0.1%YesFxPro Mobile App, MT4, MT5, cTrader, FxPro WebTraderFCA, CySEC, FSCA, SCBYes, up to €20,0001900+70+1020+YesAndroid, iOS
After signing up with FxPro, we discovered several key aspects. First, we had to adhere to FxPro minimum deposit requirements. Presently, this broker recommends that you fund your account with at least $1,000, but you can deposit as little as $100. And don’t worry about any charges. Deposits and withdrawals are free on this trading platform.
That aside, if you choose the cTrader platform and trade FX pairs of spot metals, expect to pay a commission, but it’s reasonable. This broker charges $35 for every $1 million traded. Additionally, if you keep a position open overnight, you will incur swap/rollover charges. FxPro will charge your account automatically at 21:59 (UK time).
FxPro has a cost calculation tool you can use to determine every available instrument’s quarterly charges. You should check it out.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App77.7% 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.4.3
$100Bank Wire Transfer, Credit/Debit Cards, E-walletsFrom 0.08%From 0.7 ptsOnly the spread is applied-FreeMobile App, Web Trading, MT5, TradingviewCIRO, CySEC, NFA, CFTC, CIMA, FCA, SFC, FSA, MAS, ASICNo70+80+8NoYesAndroid, iOS
The best decision you can take as a trader is to join a platform with friendly, transparent fees. Luckily, Forex.com values transparency and cost-friendliness. We tested this broker using Standard and RAW Spread accounts. Here’s what we found out.
First, you must fund your account before trading live with this broker. When doing that, keep in mind that Forex.com’s minimum deposit is $100. Therefore, your first deposit should be $100 or higher. But don’t worry about deposit charges. Forex.com charges zero fees for incoming deposits from bank transfers and debit cards.
The other costs and charges you will incur while trading with Forex.com depend on your preferred account. The costs associated with standard accounts are included in the bid/ask spread. A Standard account’s spreads start from 0.8 pips. Additionally, this account will only require you to pay commissions if you invest in equities. But the good news is that Standard account owners can earn cash rebates on cryptos, equities, FX, and other assets.
If you go with a Forex.com Raw Spread account, you will enjoy commissions as low as $5 per $100k you trade. This account also allows you to lower your trading costs with cash rebates of up to $50 for every $1 million you trade. Furthermore, with it, you can trade FX majors and enjoy tight spreads starting from 0.0.
Commissions and rebates aside, Forex.com levies rollover fees for positions held overnight. The exact rollover rates vary depending on factors like the prevailing market conditions. Furthermore, this broker requires dormant account owners to cover a $15 monthly inactivity fee. The last fee kicks in after an account has remained inactive for 12 months.
-
Visit siteGeneral RatingWallet TypePriceFeesCryptocurrencies AvailableHardware Wallet SupportedCustomer ServiceMobile AppExodus is a software platform ONLY and does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds.4.2
Self-custody walletFreeTransaction fee when send crypto200+Yes24/7Android, iOS
Exodus is among the digital wallets that have no fees for downloading and setting up accounts. From our exploitation, the wallet does not charge any fees when you receive and store cryptocurrencies. However, expect to incur network or gas fees when you send cryptocurrencies. The best part is that this Exodus wallet fee can be customized, although this option is limited to Bitcoin, Ethereum, and ERC20 transactions.
Cryptocurrency sending charges vary based on the blockchain network you use. Therefore, always understand applicable charges to plan accordingly. Exodus automatically checks all addresses to ensure seamless transactions with no errors.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App78% of retail investor accounts lose money when trading on margin with this provider. You should consider whether you understand how margin trading works and whether you can afford to take the high risk of losing your money.4.2
$0Credit Cards, Bank Transfer, PayPalYesYes-$0.02YesMT4, MT5, cTrader, TradingView, Pepperstone Trading PlatformFCA, ASIC, DFSA, CySEC, BaFin, SCB, CMAYes, up to £85,0001000+100+32100+YesAndroid, iOS
We identified numerous fees and costs on Pepperstone. First, from our exploration, we discovered that Pepperstone users are subjected to spreads and commissions that vary depending on market conditions and account type. This platform has two accounts: Standard and Razor. Both are associated with different charges and conditions. For instance, Razor accounts only attract commissions when users trade CFDs on Forex.
Pepperstone also charges overnight funding, which kicks in when a trader holds a position in commodities, equities, indices, metals, or cryptocurrencies overnight after 5 p.m. New York Time. This broker’s overnight funding charges vary depending on different factors, including underlying TomNext rate changes.
But here’s the best thing you can derive from our Pepperstone broker review, especially where fees are involved. Pepperstone doesn’t charge account inactivity fees. Moreover, this platform doesn’t charge a single dime for deposits and withdrawals. Furthermore, this broker has no minimum deposit requirements.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile App74% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.4.1
$0Credit/Debit Cards, Bank Transfer, PayPalFrom 0.10% + 0,5% transfer feeFreeOnly the spread is appliedYesFrom 0.1 pointsMT4, IG Online Platform, ProRealTime, Trading AppsSEC, FCA, BaFin, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, BMA, CySECYes, up to £85,00018,000+80+35+5400+YesAndroid, iOS
IG Markets’ fees vary depending on the asset you are trading. The broker has come a long way and tries to accommodate both low-budget and high-budget traders. We noticed that the broker doesn’t have a minimum deposit requirement. This allows you to trade with any amount you can afford.
Regarding spreads and commissions, IG Markets imposes some of the lowest fees. For instance, you will explore the currency market with spreads from 0.6 pips. Major indices also attract spreads from 0.8 points and 0.1 points on commodities.
Unfortunately, IG Markets’ share trading fees are high compared to its counterparts. For instance, you will incur 2 cents per US share and 0.18% on Hong Kong shares. The good news is that the broker allows free deposits and withdrawals. Its inactivity fee of $12 monthly also applies after 24 consecutive months.
-
Visit siteGeneral RatingMinimum DepositPayment & Withdraw OptionsFees on StocksFees on Currency PairsFees on CryptosFees on ETFsFees on CommoditiesSoftwareLicenseMoney InsuranceStock AssetsForex AssetsCommodities AssetsETFs AssetsDemo AccountMobile AppBetween 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.4
$0Bank Wire Transfers, ACH Transfers$01/10 pipFrom 0.12% to 0.18%$0YesTrader Workstation, IBKRFCM, CFTC, SEC, FINRA, MAS, ASIC, CBI, FSAYes, up to £85,00090+100+Yes90+YesAndroid, iOS
We find IBKR to be one of the most affordable brokers in the financial landscape. For starters, the broker has no minimum deposit requirement. This makes it easier for traders to start trading or investing with any amount they can afford.
Additionally, trading US-listed stocks and ETFs is commission-free on its IBKR Lite account. Other trading assets also attract low commissions, thus making the broker an option for low-budget traders. For accounts with a net asset value of at least $100,000, IBKR allows you to earn interest of up to 4.83% on cash balances.
When it comes to Interactive Brokers margin rates, they are among the lowest. We compared it to others and discovered that its lowest tier has a rate of 6.83% at IBKR PRO and 7.83% at IBKR Lite. Transactions with this broker are also free. Moreover, you will not incur any inactivity fee should your account remain dormant. However, it is essential to stay active if you want to quickly become an independent and successful investor.
-
Visit siteGeneral RatingCryptocurrencies AvailableFeesPayment MethodsAccount MinimumDigital WalletMobile AppInvezty is not an investment advisor. Please do your own research before making any investment decisions.3.9
350+0.04-0.20% maker fee 0.10-0.20% taker fee $5 inactivity feeCredit/Debit Cards, Bank Transfer$1YesAndroid, iOS
We were impressed by Crypto.com fees, which we believe are among the lowest in the industry. For instance, there are no deposit fees when transacting with cryptocurrencies. However, you will pay withdrawal charges, the amount of which depends on the token you are transferring.
Creating an investment account at this exchange is free, and there is no minimum deposit requirement. This means that users can start trading or investing in cryptos with as little as $1. We find Crypto.com a suitable option for low-budget traders.
When it comes to trading and investment costs, expect to incur maker and taker fees. For those venturing into spot and derivatives market, expect to incur trading fees from 0.075% and 0.034%, respectively. For CRO stakers, Crypto.com guarantees 0% maker fees if you stake at least 50,000 CROs. Those who stake at least 100,000 CRO will enjoy negative maker fees across all tiers.
Our exploration of this exchange revealed that trading fees are charged based on the cryptocurrency you trade or invest in. Therefore, we advise you to always confirm an asset’s fees and ensure they fit your budget before you open a position. Fortunately, Crypto.com is transparent with its charges. What you see is what you will incur.
Besides the charges above, expect to incur a $5 inactivity fees. This applies if your trading or investment account remains dormant for a period exceeding 12 months.
-
Visit siteGeneral RatingWallet TypePriceFeesCryptocurrencies AvailableHardware Wallet SupportedCustomer ServiceMobile AppUsing digital wallets involves risks such as security vulnerabilities, potential loss or theft of the device, and exposure to fraud. Additionally, technical issues and evolving regulatory environments can affect access and usage of your digital assets.3.7
Non-custodialFreeConvenience fee of 0.1%700+Yes24/7Android, iOS
The Crypto.com DeFi wallet is free. You can get this product and start using it without paying a dime. Furthermore, you don’t need a Crypto.com account to enjoy the perks of using this wallet. Not to forget, the wallet charges zero network fees.
With that in mind, we used this wallet and noticed a few things you should be aware of. For starters, any transaction you initiate using the Crypto.com DeFi wallet is submitted on-chain directly. As such, you have to cover a network fee whose sole purpose is to provide the incentive that the corresponding blockchain network needs to validate and confirm transaction requests. The fee goes to miners and validators who use their computational resources to process and secure network transactions.
The network fee you’ll incur at any given period will depend on various factors, including the involved blockchain network’s consensus mechanism. Additionally, charges may rise or dip depending on how much traffic a network is receiving. Network fees often increase when the corresponding network is congested.
Not to forget, if you trade with the Crypto.com DeFi wallet, you will be exposed to numerous charges. For starters, you will incur protocol and bridge service fees which are charged by the underlying protocol and the Crypto.com App, respectively. The Crypto.com DeFi wallet also charges service fees to traders.
-
Visit siteGeneral RatingCryptocurrencies AvailableFeesPayment MethodsAccount MinimumDigital WalletMobile AppSome crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.3.7
200+3% conversion fee 0.25% maker fee 0.40% taker feeCredit/Debit Cards, Google Pay, Apple Pay, ACH Online Banking$10YesAndroid, iOS
Based on our experience, Kraken is one of the most affordable cryptocurrency exchanges. We signed up for trading and investment accounts and incurred no registration fees. Plus, the exchange’s minimum deposit requirement is $10, which we believe is among the lowest in the financial investment industry.
When it comes to instant buy and sell services, Kraken imposes spreads, which are included in an asset’s price. The spreads may vary, depending on the payment method and platform you use. For instance, the exchange applies a 3% fee for converting balances less than the minimum order size using the “Convert small balances” feature.
For investors using the Kraken Pro platform, expect a maker-taker fee schedule. This comes with volume incentives based on investors’ activities in the past 30 days. On average, you will incur a 0.25% maker fee and a 0.40% taker fee for transactions between $0 and $10,000. Overall, Kraken Pro fees are charged on a per-trade basis.
When it comes to transactions, Kraken supports a variety of deposit methods. Most deposits are free, but expect to incur withdrawal charges, depending on the payment method you transat with. You may also pay a currency conversion fee. This of course will depend on the fiat currency you are converting to.
-
Visit siteGeneral RatingWallet TypePriceFeesCryptocurrencies AvailableHardware Wallet SupportedCustomer ServiceMobile AppDon’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.3.6
Hot/ColdFreeBlockchain fee120+Yes24/5Android, iOS
We recommend the eToro wallet because you can use it to receive and send crypto for free. The only charges you may incur are blockchain fees paid to network miners whose main role is confirming, validating, and adding transactions to the right ledgers.
That said, the eToro wallet has capped transactions for all supported cryptocurrencies at $50,000 per transaction. You can’t exceed this limit. Moreover, your transactions can’t exceed $200,000 in a day.
Also, eToro charges a small fee for transferring cryptoassets from the investment app to the wallet, ranging from $1 to $100 max.
-
Visit siteGeneral RatingCryptocurrencies AvailableFeesPayment MethodsAccount MinimumDigital WalletMobile AppInvezty is not an investment advisor. Please do your own research before making any investment decisions.3.2
700+0.02% maker fee 0.05% taker feeAirTm, Apple Pay, Google Pay, PayPal, Neteller, Lemon Cash, ZaloPay, Easypaisa100 USDTYesAndroid, iOS
Since unplanned-for charges can increase your trading costs and reduce your profits, we decided to evaluate HTX’s fees and inform you accordingly. That way, you can prepare beforehand and avoid nasty surprises.
From our evaluation, we realized a few things. First, you can use this exchange’s P2P platform and enjoy zero transaction fees. You can enjoy the same perk when using an AdvCash wallet to deposit and withdraw RUB (Russian Ruble). Additionally, people using RUB to buy crypto on HTX incur zero transaction charges.
This exchange charges 0.02% and 0.05% transaction fees for makers and takers, respectively. These fees are for USDT-margined trading. The actual amount that makers and takers pay while trading with HTX depends on numerous factors, including the filled quantity, transaction prices, and contact face value.
And if your situation requires you to use HTX’s OTC Desk, you can start smiling now. That is because this platform doesn’t have any transaction fees. Everything you’ll pay while using it is included in the “all-inclusive” price you’ll see.
But before you fund your HTX account and start trading, you should know a few additional things. For starters, this exchange’s minimum deposit is 100 USDT. If you send a lesser amount to the exchange, it won’t be credited to your account. You’ll have to deposit more USDT to the address you used before until your deposit amount hits or exceeds this threshold.
