DEGIRO Broker Review

DEGIRO Broker Review

DEGIRO, a Dutch online broker, commenced operations in 2013 as a wholesale broker and has since expanded its presence to nearly 20 European countries. Its competitive edge lies in offering low to zero commissions, propelling it to become one of Europe’s largest brokers. In 2020, DEGIRO merged with flatex, subsequently becoming the continent’s largest online broker within a year. It also acquired its own banking license. DEGIRO has garnered 82 awards, including recognition as the “Best Discount Broker” and the “Best Broker for Stock Trading” in 2022 by Broker Chooser. Recent accolades also include the “Best Stock Broker” from Rankia in 2020, “Broker-Test.de Daytrade Broker 2020 (BrokerWahl),” and the “German Fairness Award 2020” from NTV.

Suitability for a Diverse Investor Base

DEGIRO caters to a broad spectrum of investors, encompassing both beginners and experienced traders interested in stocks, bonds, options, futures, and other securities on European markets. Its low commission fees make it an excellent choice for frugal investors looking to maximize their returns. Additionally, a user-friendly platform and excellent research tools position it as an appealing option for novices venturing into the world of investing. However, it’s crucial to note that DEGIRO may not be the best fit for investors requiring a full range of investment options, such as access to mutual funds or retirement accounts, as the broker currently does not offer them.

Key Features of DEGIRO

1. Transparency in Commissions:

DEGIRO is known for its transparency regarding commissions, with no hidden fees or inactivity charges. The broker provides a comprehensive list of fees on its website and levies low commissions compared to other brokers in the market.

2. Low Trading Commissions:

DEGIRO offers low trading commissions, making it an economically advantageous choice for investors. With over two million users, DEGIRO has established itself as one of the leading brokers in Europe. The broker provides its own trading platform, which is user-friendly and equipped with a range of useful features.

3. Global Market Access:

DEGIRO allows investors to trade on more than 50 global exchanges, providing access to a wide range of markets and investment opportunities. DEGIRO offers a quick and straightforward account opening process with no minimum deposit requirements.

4. Research and Education Resources:

The broker provides a wide range of research and educational resources to help investors make informed decisions. These resources include market news, analytical reports, and educational articles.

5. Regulation and Security:

DEGIRO takes security seriously and employs several measures to protect clients’ accounts and personal data. Security measures include two-factor authentication, encrypted communication, and secure servers. DEGIRO also maintains separate accounts for client funds to prevent mingling with the company’s own funds. In terms of regulation, DEGIRO is authorized and regulated by the Dutch Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). Additionally, DEGIRO is registered with regulatory authorities in all the countries where it operates, including the Financial Conduct Authority (FCA) in the UK.

Types of Accounts

DEGIRO offers two types of accounts: Basic and Active.

1. Basic Account:

   – No minimum deposit required.

   – Margin trading up to 100%.

   – Various account currencies, including euros.

   – Commission varies by market.

   – Trading instruments include indices, stocks, bonds, futures, options, ETFs, investment funds, and structured products.

   – No minimum lot size per trade.

   – Maximum trade size is 300,000 euros (unlimited for buying/selling a single stock).

   – No demo account or copy trading support.

   – No specified swap/rollover fee.

2. Active Account:

   – No minimum deposit required.

   – Same trading instruments as the Basic account, with additional features like customizable news and alerts.

   – Commission is the same as the Basic account, with an additional processing fee for European markets.

   – Variable leverage available, with a $0.50 commission per trade.

   – Account currencies include euros and others.

   – Same lot size and maximum trade size as the Basic account.

   – No demo account or copy trading support.

   – No specified swap/rollover fee.

Security and Regulation

DEGIRO’s security measures and regulation comply with industry standards, and the broker has received numerous awards for its service. However, it’s essential to note the absence of telephone support and limited account types, which may not meet the needs of some investors.

Conclusion on DEGIRO

DEGIRO stands out as a reliable choice for investors seeking an affordable broker without frills. Its transparent commission structure and low fees make it an attractive option for both beginners and experienced traders. While the broker’s proprietary platform is user-friendly and offers several useful features, it may not boast as many advanced tools as some of its competitors.

DEGIRO’s commitment to security and regulation aligns with industry standards, and its numerous awards underscore its service quality. However, investors should carefully assess their own needs and preferences when choosing a broker, and DEGIRO undoubtedly presents a strong contender for those seeking a cost-effective option.

BDSwiss Broker Review

BDSwiss Broker Review

BDSwiss stands as a prominent forex and CFD broker, offering an extensive range of trading platforms, including the renowned MetaTrader suite and its proprietary mobile and web-based platforms. This brokerage caters to over 1.6 million registered traders, granting access to an impressive collection of over 1,000 tradable symbols. Renowned for its exceptional order execution, quality research, and top-notch customer support, BDSwiss holds authorization from a tier-2 regulator and a tier-3 regulator. Yet, it’s important to note that their spreads might be slightly higher compared to industry leaders.

Trading Opportunities

BDSwiss opens the doors to diverse trading instruments:

  • Forex: Access over 50 forex pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, along with minor and exotic pairs.
  • CFDs: Engage in CFD trading covering indices, commodities, and cryptocurrencies.
  • Stocks: Dive into stocks from various global exchanges, including the NYSE, NASDAQ, and Euronext.
  • ETFs: Explore a wide array of ETFs providing exposure across sectors and asset classes.
  • Bonds: Trade in government and corporate bonds, accessing the fixed income markets.

Trading Conditions

Varied trading conditions are offered by BDSwiss, contingent upon the account type and asset being traded. Here’s a glimpse into some key offerings:

Spreads: Spreads vary based on account type and asset; for instance, the Raw Spread account features tight spreads starting from 0.0 pips, while the Standard account initiates from 1.5 pips.

Leverage: BDSwiss offers leverage up to 1:500 for forex trading and up to 1:100 for other assets like CFDs.

Minimum Deposit: Account opening deposits differ, ranging from $100 for the Standard account to $5,000 for the Black account.

Commission: Commission rates vary by account type and asset. For example, the Raw Spread account charges $4 per standard lot, while the Standard account doesn’t impose a commission.

Account Types

BDSwiss tailors three distinct account types to cater to varying trader needs:

  • Standard Account: Suited for newcomers, offering a minimum deposit of $100 and spreads starting from 1.5 pips.
  • Raw Spread Account: Ideal for experienced traders desiring tighter spreads, with a minimum deposit of $500 and spreads from 0.0 pips along with a $4 commission per standard lot.
  • Black Account: Designed for high-volume traders, requiring a minimum deposit of $5,000 with spreads starting from 1.0 pip and offering exclusive benefits.

All BDSwiss accounts grant access to a broad spectrum of trading instruments, facilitating trading through MetaTrader or BDSwiss’ proprietary platforms.

Regulation and Security

BDSwiss is regulated by two esteemed regulatory bodies:

Cyprus Securities and Exchange Commission (CySEC), a tier-2 regulator, and The Financial Services Commission (FSC) of Mauritius, a tier-3 regulator. These bodies mandate BDSwiss to adhere to stringent rules, ensuring adequate capitalization, segregated client funds, and transparent pricing.

Security measures include advanced encryption to safeguard clients’ information and funds held in segregated accounts with top-tier banks. BDSwiss additionally offers negative balance protection, mitigating risks during market volatility.

Conclusion on BDSwiss

In summary, BDSwiss emerges as a reputable broker, offering a diverse array of instruments and platforms catering to both novice and seasoned traders. With authorization from esteemed regulatory bodies, advanced security measures, and competitive trading conditions, BDSwiss ensures a quality trading experience. While their spreads might be slightly higher, BDSwiss remains a reliable choice for traders across all skill levels.

Axe Market Broker Review 

Axe Market Broker Review 

Axe Market, a relatively new entrant to the Forex and CFD brokerage arena, commenced operations in 2020. Headquartered in Saint Vincent and the Grenadines, the broker claims to provide competitive spreads, rapid order execution, and a user-friendly trading platform, catering to a range of financial instruments, including currency pairs, commodities, indices, and cryptocurrencies.

Diverse Financial Instruments

Diversity in financial trading instruments is a defining characteristic of leading brokers. Axe Market excels in this regard, offering a broad array of products for trading. This variety appeals to experienced traders who appreciate the flexibility of choosing from different financial products, ranging from currencies to commodities.

Trading Conditions

Axe Market caters to various trading styles and experience levels by providing multiple types of trading accounts. These accounts come with varying minimum deposit requirements and spreads. Notably, the maximum margin for all account types is set at 1:500, enabling traders to utilize leverage to enhance their trading capital.

The broker facilitates trading in over 60 currency pairs, metals, oil, indices, and cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Axe Market generally refrains from charging commissions on trades, except for the Pro account, which incurs a $3 per lot commission. Spread values vary based on the account type and traded instrument.

Deposit and Withdrawal Methods

Axe Market offers diverse options for depositing and withdrawing funds, including bank transfers, electronic wallets, and bank cards. Bank transfers, although taking several hours to days, are a reliable method for funding accounts. Electronic wallets such as Skrill, Neteller, and FasaPay provide faster processing times, crediting accounts within minutes.

Withdrawals can be made using the same methods as deposits, excluding bank cards, with card withdrawals taking up to 7 working days. Notably, Axe Market typically does not charge fees for fund deposits and withdrawals. However, clients may incur fees from payment systems or intermediary banks. To ensure security and comply with regulations, clients must undergo identity verification and Know Your Customer (KYC) procedures, involving document submission for identity and address verification.

Security and Regulation

Axe Market emphasizes the security of its clients through SSL encryption, two-factor authentication, and secure connections to its servers. In terms of regulation, the company is registered in Saint Vincent and the Grenadines and falls under the oversight of the International Financial Commission (IFC). While the IFC serves as a supervisory body, it is important to note that it may not be as stringent as regulators like the FCA or ASIC. Traders should independently assess the risks associated with Axe Market, considering their preference for either strict regulatory oversight or more flexible trading conditions.

Conclusion

Axe Market positions itself as a Forex and CFD broker offering a range of advantages, including low spreads, a diverse selection of trading instruments, robust trading platforms, round-the-clock customer support, and more. However, the absence of licenses from regulators in the US, UK, Japan, and other highly regulated jurisdictions raises potential concerns for investors seeking more secure collaborations.

Customer reviews mentioning withdrawal delays and support issues underscore the importance of thorough research before choosing Axe Market. In summary, while Axe Market may appeal to traders seeking cost-effective trading in the Forex and CFD markets, a careful examination of the terms and risks associated with unregulated activities is essential before opening an account.

Vantage Broker Review

Vantage Broker Review

Vantage has expanded its range by adding support for social trading platforms, incorporating Trading Central-powered content, and launching a custom mobile app alongside its suite of MetaTrader platforms. However, Vantage falls behind industry leaders, particularly in areas crucial for research and education.

Previously known as Vantage FX and founded in 2009 under the name MXT Global, Vantage is now under the umbrella of Vantage Global Prime Pty Ltd. The Australian Securities and Investment Commission (ASIC) has granted Vantage an Australian Financial Services License (AFSL).

Apart from its Australian entity, the group also operates under the Financial Conduct Authority (FCA) in the UK as Vantage Global Prime LLP. Additionally, Vantage holds regulatory status with the Vanuatu Financial Services Commission (VFSC) and the Cayman Islands Monetary Authority (CIMA).

Trading Instruments

The market variety available at Vantage is determined by the specific entity governing your account. The table below outlines the diverse investment options offered to Vantage clients.

Cryptocurrency trading is available at Vantage through both CFDs and trading the actual asset, such as buying Bitcoin. However, UK residents and retail traders under a UK broker entity are not allowed to trade cryptocurrency CFDs.

Vantage Fees and Account Types

The cost of trading at Vantage depends on the type of account and the overseeing Vantage entity. Account types include the spread-only Standard STP account, commission-based RAW ECN and PRO ECN accounts, and the spread-only Standard STP account. Overall, Vantage’s pricing aligns reasonably with industry standards.

The spread for the EUR/USD pair on Vantage’s spread-only Standard account averaged at 1.22 pips in August 2021, compared to 0.15 pips ($3 per side plus $6 per round turn) for the Raw account during the same period, totaling 0.75 pips.

Vantage’s PRO account offers competitive pricing, charging $2 per-side commission ($4 per round turn) for the PRO level. The criteria for opening a PRO ECN account vary based on the overseeing organization. A minimum funding of $10,000 is required for accounts opened through Vantage’s Cayman Islands entity.

Active traders at Vantage receive rebates ranging from $2 to $8 per standard lot based on their balance and monthly volume. However, this offer is exclusive to the Standard account, which features the highest spreads among available account types.

Apps for Mobile Trading

In addition to the standard MetaTrader mobile app suite, Vantage presents its proprietary trading app. The Vantage App lays a strong foundation for a new mobile trading application.

Vantage offers two mobile apps—MetaTrader platform suite and its proprietary Vantage App—available for iOS and Android devices. However, charting at Vantage is limited to five time frames, one chart type, and a restricted number of indicators and overlays. Nevertheless, the charts open in a full-screen landscape view upon tapping, enhancing the user experience.

Trading Platforms

Distinguishing itself from other MetaTrader-only brokers, Vantage supports additional add-ons and third-party platforms like TradingView. This inclusion earned Vantage recognition among the Best in Class for top MetaTrader brokers in 2023.

Vantage specializes in MetaTrader trading, providing a comprehensive range of desktop and web trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Charting at Vantage encompasses typical charts on MT4 and MT5, along with the fully integrated CHARTS platform from TradingView. Vantage also offers SmartTrader Tools from FX Blue LLP as part of MetaTrader add-ons. Furthermore, it streams forex news headlines directly from FxWire Pro and FxStreet.

Vantage supports three platforms for social copy trading in addition to the MetaTrader Signals market—ZuluTrade, DupliTrade, and Myfxbook’s AutoTrade (except in Australia).

Market Research

Vantage’s research primarily relies on external content providers like Trading Central and lacks substantial original work. Its daily market updates on a dedicated YouTube channel, powered by Trading Central, are satisfactory but incorporate pre-recorded templated segments. The client portal also hosts market news and analysis videos from Trading Central.

The Pro Trader Tools, available to clients with a minimum deposit of $1,000, integrates into the client portal and is powered by Trading Central. While the Analyst Views provide automated analysis, the Featured Ideas tool assists traders seeking trading signals and actionable ideas.

Vantage continues to expand its research resources, but there’s room for enhancement, especially in offering more diverse internal content such as webinars and written material.

Education

Vantage’s Learn Forex Trading section contains 37 educational points, which, though informative, might seem basic. Additionally, it offers over 130 videos produced by Trading Central as part of its Pro Trader series and platform tutorials catering to beginners and covering advanced forex and CFD concepts across various markets, including cryptocurrencies.

The YouTube channels at Vantage contain a plethora of videos organized into specific playlists, including weekly webinars and “Masterclass” videos covering diverse trading-related topics.

Conclusion on Vantage

With competitive pricing on its commission-based Raw ECN account and support for additional platforms like Zulutrade and DupliTrade, Vantage stands out among MetaTrader brokers. Its exclusive Vantage app shows promise, despite in-app advertisements.

While Vantage continues to expand its research and educational offerings, it’s still a step behind the leading brokers in these areas.

Markets.com Broker Review

Markets.com Broker Review

Markets.com stands as a reliable and all-encompassing online trading hub offering five distinct account types tailored to clients across Europe, South Africa, Australia, the UK, and other regions. This platform boasts a diverse array of 2200 tradable assets encompassing currency pairs, precious metals, global shares, bonds, ETFs, and cryptocurrencies, presenting traders with low spreads, leverage options ranging from 1:30 to 1:300, and robust trading tools.

Acknowledged for its stable platform and extensive trading options, Markets.com has secured numerous awards. However, it’s important to note that the platform is not available for customers residing in the USA, Canada, Japan, Singapore, and Belgium.

Markets.com Pros & Cons

Pros:

  • Varied account options tailored to traders in different regions
  • Extensive selection of tradable assets covering stocks, currencies, commodities, and cryptocurrencies
  • Intuitive proprietary trading platform (Web Trader) along with MetaTrader 4 and 5 support
  • Highly competitive spreads starting from 0.6 pips and adaptable leverage options
    Globally recognized and acclaimed platform with a robust industry standing

Cons:

  • Unavailable for customers from the USA, Canada, Japan, Singapore, and Belgium
  • Higher risk inherent in trading CFDs, indicated through platform warnings
  • Comparatively limited research and educational resources vis-à-vis some industry competitors

Who Should Opt for Markets.com?

Markets.com caters well to traders seeking an extensive and dependable online platform, presenting a broad spectrum of account options and features. Its five region-specific account types make it an ideal choice for traders across Europe, South Africa, Australia, the UK, and other regions. The platform also appeals to those keen on trading diverse financial instruments, encompassing currency pairs, precious metals, global shares, bonds, ETFs, cryptocurrencies, and innovative blends. Moreover, the availability of the proprietary trading platform (Web Trader) and support for MetaTrader 4 and 5 renders it suitable for both novice and experienced traders. Yet, traders must be mindful of the inherent risks while trading CFDs, as 67% of retail investor accounts lose money when trading CFDs with this provider.

Regulation and Security

Markets.com operates as a well-regulated online trading platform, holding licenses from multiple regulatory bodies. These include the Cyprus Securities and Exchange Commission (CySEC) under license number 092/08, the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) of South Africa, and the Financial Services Commission (FSC) of the British Virgin Islands.

In compliance with stringent regulatory standards, Markets.com ensures segregated client funds, regular audits, and negative balance protection for clients. The platform employs advanced security protocols, including SSL encryption, two-factor authentication, and firewalls, fortifying client data and transaction security.

Account Options and Features

  • Broker Type: Market Maker
  • Minimum Deposit: 100
  • Forex Majors Spread: EUR/USD: 0.6, GBP/USD: 0.9, USD/JPY: 0.9
  • Maximum Forex Leverage: 1:30 or 1:300 depending on jurisdiction and account type
  • Minimum Trade Size: 1000
  • Scalping: Yes
  • Hedging: Yes
  • Free Demo Account: Yes
  • Traders from USA: No
  • Day Trading Account: Yes

Highlights of Markets.com

Remarkably Low Spreads: Competitive spreads offered on major and exotic forex pairs.

Investment Insights and Strategies: Access to investor education resources like the regularly updated video analysis series “x-ray.”

Exceptional Service: Markets.com prides itself on delivering top-notch customer service, offering VIP support via live chat, phone, and email on weekdays.

Over 2200 Tradable Assets: A wide selection covering forex pairs, metals, stocks, bonds, ETFs, cryptocurrencies, and blends including Buffet, Soros, Cannabis, Brexit Winners and Losers, and Dogs of the Dow blends.

Decision-Making Tools: Varied signaling tools such as stock alerts, insider trade alerts, hedge fund confidence indexes, and trading trends from fellow Markets.com users.

Markets.com Account Types

Markets.com offers five region-specific account types:

  • Retail Account: Suitable for novice traders with a minimum deposit of $100, offering an array of trading instruments, tight spreads, and 24/5 customer support.
  • Professional Account: Tailored for experienced traders meeting specific criteria, like possessing a portfolio exceeding €500,000 or working in the financial sector. It offers higher leverage and lower margin requirements compared to the retail account.
  • Premium Account: Geared toward high-net-worth traders depositing at least $20,000, providing a dedicated account manager, personalized trading strategies, and exclusive trading conditions.
  • Islamic Account: Tailored for adherents of Islamic finance principles, exempt from swaps or rollover fees, accessible to clients across all proficiency levels.

Pricing at Markets.com

Trading costs at Markets.com primarily come in the form of variable spreads on traded items, free from commission charges and deposit or withdrawal fees. Markets.com also refunds consumers for bank fees or external transaction costs exceeding $2500.

To kickstart a trading account, the minimum deposit stands at 100 GBP/EUR/USD or the equivalent in supported local currencies. Minimum withdrawal amounts vary based on payment method, ranging from 5 USD/EUR/GBP for Neteller and Skrill to 100 GBP/EUR/USD for wire transfers in territories outside the EU. Markets.com mandates utilizing the same payment method for deposits and withdrawals, aligning with anti-money laundering and Know Your Customer practices.

Conclusion on Markets.com

Markets.com emerges as a reputable and dependable online trading platform, offering an expansive array of trading instruments, exceptional customer service, and advanced trading tools for traders to thrive in financial markets. With robust regulation and parent company Finalto being part of the FTSE 250 Index, Markets.com provides five distinct account types, diverse trading platforms including its proprietary Web Trader, and MetaTrader 4 and 5 support.

An excellent choice for beginners and seasoned traders alike seeking a comprehensive platform with over 2,200 tradable assets, competitive spreads, and diverse leverage options. The platform also houses an abundance of educational resources and decision-making tools, making it an ideal choice for traders aiming to enhance their trading skills and strategies. Overall, Markets.com stands as a trusted and established platform, offering a user-friendly trading experience for traders across proficiency levels.