Table of contents
Online Brokers
When choosing an online brokers, the first aspect to take into account is the security of the platform (if there are any regulations applied to the firm), then the possibility of trade the chosen assets, and finally how to optimize the trading performance, thus, the fees is the last one aspect to watch out.
eToro
In 2023, regulations of the eToro firm were applied by:
- CySEC authority in the EU
- FCA in the UK
- FinCEN in the United States
- ASIC in Australia
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit ways: Bank card, Electronic wallet Minimum deposit: $10 Deposit fee: No fee, only in case of conversion. Withdrawal fee: $5 |
| Commissions and fees | Stocks & ETF – 0% commission on stocks Cryptocurrency – No fees for sending or receiving transactions – 0.1% of conversion fee for crypto-to-crypto Account – Inactivity fee |
| Assets | More than 3,000 assets including stocks, ETF, cryptocurrencies, etc. However the number of crypto-assets are limited. Includes : Stock, ETF, Forex, CFD, Crypto |
| Platform | Web Trading Platform – User-friendly – Clear fee report – Security: Multifactor authentication – Limited customizability Mobile Application for Apple and Android |
| Tools & ressources | – Demo account – Social Trading with CopyTrader – TradingView – Forum |
| Customer service | Not used, but still, it is present: Customer Service | eToro |
eToro summary
- Regulated for most majority of countries: UK, US, EU, etc.
- Basics methods for deposit and withdrawal, but presence of fees for withdrawal.
- Low commissions and fees for trading.
- Not recommended for diversification in crypto, but it is enough for basic portfolio in crypto and diversified into stocks.
- The platform is a top for trading, although it is not user-friendly at the beginning.
Trading 212
In 2023, regulations of the Trading 212 firm were applied by:
- CySEC authority in the EU
- FCA in the UK
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit ways: Bank card, Apple & Google Pay, PayPal Minimum deposit: Depends on the country, but, a minima, $10 Deposit fee: Fee-free until 2,000 GBP/EUR deposited in total. Once the limit is reached, a fee of 0,7% will apply thereafter. Withdrawal fee: None |
| Commissions and fees | LSE Stocks – Stamp Duty Reserve Tax: charged at 0.5% on share purchases. No charge applied to gilts, bonds or ETFs. – PTM Levy is charged in both cases, on purchase and sale, and it is £1 per trade for orders over £10,000. NYSE Stocks – Transaction Fee: $0.000008 of the value of the sell order. – FINRA Fee: charged on all covered stock and ETF sales at $0.000145 x quantity sold. Euronext Paris Stocks – French Financial Transaction Tax (FFT): 0.3% applied to the purchase of shares of French companies with a market cap of over 1 billion. Account – No inactivity fees |
| Assets | More than 7,000 assets including stocks, ETF, CFD, etc. However, no cryptocurrencies are listed. Includes : Stock, ETF, Forex, CFD |
| Platform | Web Trading Platform Mobile Application for Apple and Android |
| Tools & ressources | – Forum |
| Customer service | Not used, but still, it is present: How can I contact the Trading 212 support team? – Trading 212 |
Trading 212 summary
- Regulated for some countries: UK, EU, etc.
- Basics methods for deposit and withdrawal. No withdrawal fee.
- Low commissions and fees for trading.
- Not recommended for investing in cryptocurrencies because there are not listed, but it gives a large choices of stock and other assets for a diversified portfolio.
- The platform is basic, not my favorite, but still efficient.
Trade Republic
In 2023, regulations of the Trade Republic firm were applied by:
- BaFin in Germany
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit ways: Bank card, Apple & Google Pay Minimum deposit: $1 Deposit fee: 0,7% fee on the total amount. Withdrawal fee: None |
| Commissions and fees | Buy of shares: $1 per transaction |
| Assets | More than 9,000 assets including stocks, ETF, bonds, cryptos & derivatives. However the number of crypto-assets are limited (~50). Includes : Stock, ETF, bonds, cryptos, derivatives. |
| Platform | No Web Trading Platform Mobile Application for Apple and Android |
| Tools & ressources | None |
| Customer service | Not used, but still, it is present: Contact us・Trade Republic |
Trade Republic summary
- Not regulated for most majority of countries: UK, US, EU, etc.
- Basics methods for deposit and withdrawal, but presence of fees for withdrawal.
- Low commissions and fees for trading.
- Not recommended for diversification in crypto, but it is enough for basic portfolio in crypto and diversified into stocks.
- The platform is basic, not my favorite, but still efficient.
Online Brokers Comparison
| Broker | Regulation | Deposit and withdrawal | Commissions and fees | Assets | Platform | Tools and ressources | Customer service | Promotion |
|---|---|---|---|---|---|---|---|---|
| eToro | EU: CySEC UK: FCA United States: FinCEN Australia: ASIC | – Free deposit fee – Withdrawal fee | – Low fees – Inactivy fee | – Numerous Stocks, ETFs, etc. – Limited crypto-assets | – Web Trading Platform – Mobile app on Android and Apple | – Social resources – Tools (ex: TradingView) | Not used | $100 Bonus |
| Trading 212 | EU: CySEC UK: FCA | – Deposit fee after a certain amount – Free withdrawal fee | – Low fees – Free inactivity fee | – Numerous Stocks, ETFs, etc. – No crypto-assets | – Web Trading Platform – Mobile app on Android and Apple | – Social resources | Not used | $100 Bonus |
| Trade Republic | Germany: BaFin | – Deposit fee – Free withdrawal fee | – High fees – Free inactivity fee | – Numerous Stocks, ETFs, etc. – Limited crypto-assets | – No Web Trading Platform – Mobile app on Android and Apple | – None | Not used | None |
| Editor Choice | – eToro | – eToro – Trading 212 | – eToro – Trading 212 | – eToro – Trading 212 – Trade Republic | – eToro – Trading 212 | – eToro | Not used | – eToro – Trading 212 |
Conclusion – How to choose an Online Broker?
When choosing an online broker, the aspects to consider are related to their services, the costs about commissions and fees, the securities available, and most important, the assets available to accommodate to your investment objectives.
Accordingly to these considered aspects for choosing an online broker, the choice of an exchange platform for cryptocurrencies is based on them. Thus, for those searching a platform for cryptocurrencies, another article has been written and describe how to choose a crypto exchange platform: Best Cryptocurrency Exchanges of 2023