We present you the definitive list with the best online broker available on the net. It has been done by our experts after analyzing dozens of online brokers to find the ones you can see on our website.
In addition, on this page we will explain both the operation of online brokers and the selection process that we carry out when evaluating them.
Simple: an intermediary between buyers and sellers of financial instruments. Your main task is to find a buyer if your customer gives the order to sell, or a seller if the customer wants to buy. And to achieve, obviously, the most advantageous conditions for your client in all cases.
There are a series of requirements to practice as a broker, and they have to do with the regulations in force in the country in which they practice. Normally, they are required to have an active license with the organizations that ensure the safety of the sector. Ergo, the regulators.
In Spain, for example, the National Securities Market Commission (CNMV), in the United Kingdom the Financial Conduct Authority (FCA), in Cyprus the Cyprus Securities and Exchange Commission (CySEC) or in Australia the Australian Securities and Investments Commission (ASIC ).
New technologies, how could it be otherwise, have changed the way and investment options. In other words, they have democratized the investment sector. Online brokers have played a basic role in the articulation of this change . It is no longer necessary to go to a large bank or financial institution to invest, but anyone can do it with the intermediation of a broker. All you have to do is have a device and an Internet connection.
This is good and bad, since it brings people with minimal knowledge to the market (and operate in it) and, if they do not give themselves a prior time of preparation, learning and research, they run the risk of failing. Therefore, it is important to surround yourself with the best, and the online brokers recommended in OkBrokers are.
Through these brokers you can operate with a multitude of financial instruments : stocks, stock indices, currencies, raw materials, precious metals, energy …
Differences between broker and dealer
With the democratization and modernization of the sector, new terms also arrived (although some may already seem old to us), which can lead to confusion for those less knowledgeable in the matter.
For example, a broker is not the same as a dealer. The first (we have already said) acts as an intermediary and executes operations ordered by third parties. The dealer, however, buys and sells financial instruments on his own account, sometimes he does so for third parties, but without following their orders.
What can I invest in with an online broker?
There is a wide range of financial products in which to invest with an online broker. Some of the most used are:
Whatever type of investment you choose, you should know that zero risk does not exist. Furthermore, derivatives such as CFDs are complex instruments not recommended for private investors who do not have the necessary knowledge.
Stocks, Commodities, Currencies, Cryptos, CFDs, Indices
Stocks, Commodities, Currencies, Cryptos, CFDs, Indices
Stocks, Currencies, Cryptos, CFDs, Indices
Metatrader, BDSwiss Webtrader
Stocks, Commodities, Currencies, Cryptos, CFDs, Indices
On our website you can find detailed information about investing in any of these financial products, as well as lists of the best brokers for each of them (according to our team of editors).
How online brokers work
As we have already said, brokers are agents that act as intermediaries between sellers and buyers of financial assets and those who execute the operations that are carried out in the market following the procedures established for it. For this service they charge a series of commissions in addition to also acting as advisers.
However, in recent years the figure of online brokers has expanded, companies whose services are provided through the network. Its function is similar to that of a traditional broker and its business is also based on the collection of commissions. Generally, traditional brokers operate with stocks while online brokers offer a broader catalog of assets such as commodities , stock indices , CFDs , stocks , currencies , or cryptocurrencies .
The rise of online brokers has allowed financial activity to become enormously popular. The investment in the stock market of yesteryear was reserved for those who had large capitals while when operating with online brokers it is not necessary to have a large amount of initial money.
One aspect to take into account is the reliability of each broker . And is that as in any online business, in trading it is also possible to find scammers. For this reason, it is essential to ensure that the trading website that we are going to use is reliable. In OkBrokers you will only find brokers regulated by prestigious international organizations since our mission is to ensure that our users can invest safely.
Online brokers for Spain
If what you are looking for is an online broker that adapts to the needs of traders residing in Spain, here is a summary of how to choose an online broker for Spain.
Regulation: it is best to use an online broker registered with the National Securities Market Commission (CNMV), such as XTB.
Leverage: you should know that the maximum level of leverage for traders resident in Spain is limited to 1:30 (depending on the instrument to be traded). This limitation complies with European directives.
Instruments: online brokers for Spain often offer stocks, currencies, cryptocurrencies, indices, cfds, etc. On the other hand, binary options are prohibited in Spain following limitations at the European level.
Taxation: one of the many advantages of operating with regulated brokers in Spain is that many of them will withhold part of your profits directly to pay the taxes corresponding to them.
If you want more information on this topic, we recommend reading our guide on brokers regulated by the CNMV .
Which is the best online broker
Anyone who has tried trading will know how difficult it is to navigate the sea of available options when it comes to finding the best online broker . To the large number of online brokers to invest, we must add the fact that each of them has its own characteristics, which entails a greater difficulty.
All of this will get a lot more uphill for the inexperienced: beginner traders who probably don't have the experience to know how to choose an online broker that best suits their needs.
Our team of trading experts can attest to how difficult it is sometimes to glimpse the often subtle details that can ensure that what we have before our eyes is not another of the unfortunately common trading scams .
For this reason, we recommend being advised by the opinion of those who have been making trading their profession, hobby or specialty for years. Our experts have analyzed literally hundreds of brokers of all kinds and these are some of the things they pay attention to when looking for the best online brokers for our users:
Regulation, licenses and reliability : It is essential that every broker considered has at least one license granted by one of the main regulatory bodies for online trading . To this we will also have to add a rigorous examination of the company behind the broker. We must look for solid and reliable companies, with long experience in the industry and that operate following high security standards regarding their clients' deposits.
Instrument offering : If a broker offers a wide range of financial assets to trade with, that is generally a good sign. Of course, if you want to trade Forex you will have to find a Forex broker that offers all the currency pairs that interest you and this applies to any other financial market. Here we will have to make a comment: there are brokers specialized in a specific market that are totally reliable.
Simple trading platform : Although experience makes it easy to use a trading platform, in general a good online broker will offer some of the most popular trading platforms . Most of them have very intuitive user interfaces and we therefore recommend them. This point is even more important if we have just started our online investment activity.
Limited risks : Although leverage is already limited in areas such as the European Union, the best brokers offer their clients options such as Negative Balance Protection or stop loss . Online trading carries risk so it is not advisable to assume any that is not essential.
Demo account : Maybe this is not so important for experienced traders but we always recommend trying an online broker using the free or demo trading account . It is a good way to familiarize ourselves with the broker before making a deposit.
Customer service and languages : If you speak Spanish and your English is not good enough, then the best online broker for you will be one that has a website in Spanish as well as customer service available in your language. Look for a broker that offers several options when it comes to serving their clients such as telephone, live chat, email, etc.
This is just a small sample of the aspects that we take into account when making the list of best online brokers that you can consult on this page and that we update regularly.
Frequently Asked Questions about Online Brokers
How to identify a good broker?
On our page we explain the correct way to assess whether a broker is good or not based on a series of parameters such as regulation, security, offer of instruments, etc. You can also make use of our browser, a tool with which you can choose a perfect online broker for you in just a few seconds.
What commissions do online brokers charge?
When trading with online brokers you will have to pay expenses and commissions that may vary depending on the broker you have chosen. Luckily many brokers do not charge commissions such as maintenance or opening commissions and you will only have to deal with spreads when operating online.
How to know if an online broker is safe?
On our page you can find complete analyzes of regulated brokers . Thanks to our lists of online brokers you can find safe brokers that have licenses issued by international organizations. Don't risk trading on unreliable websites. Your capital will be at risk.
Is a cheap online broker good?
Our recommendation is that you review the costs, commissions and spreads of each broker before choosing, since too high costs can result in losses when operating online. As in everything, cheap is sometimes expensive. For this reason, we recommend you consult our list of online brokers where you will find information on spreads, commissions and much more.
What instruments does each broker offer?
Currency pairs, stocks, commodities, cryptocurrencies … The list of financial instruments that can be traded online is long. Some brokers are specialized and others have a wide range of assets. On our website you can see the financial instruments offered by each of the online brokers that we review, which will allow you to find one that has the ones that interest you the most.