Top Discount Brokers for 2020

We found 8 online brokers that are appropriate for Trading Discount.

Best Discount Brokers Guide

Discount Brokers

Brokers who help in executing orders at a discounted commission rate are known as discount brokers.

It is important to take note that these brokers do not offer any suggestions or advice with respect to performance analysis or investment.

Discount brokers are not full service brokers and hence not suitable for beginners or those who want to invest and are new to the market.

Discount brokers are mainly operating through online platforms and charge a smaller commission to traders with smaller capital.

Why opt for Discount Brokers

One of the primary advantages to choose discount brokers is that orders can be executed at cheaper costs. Most of them operate online and it is easy to find.

Discount brokers have lately been in much demand as they perfectly suit traders with small capital.

Disadvantages of Discount Brokers

Discount brokers are perfect for experienced traders who need less advice or no advice in terms of trading.

Beginners who are in need of investment advice should not opt for discount brokers. Instead, they should find out a full service broker for their trading needs.

Discount brokers don't offer personal consultations, tax planning, research, analysis, estate planning and other advice.

How Discount Brokers offer Low Commission

Discount brokers are capable of discounting commissions or fees as they operate with less overhead expenses.

They usually operate online and don't require an office establishment. They require few human resources to run their business.

Full Service Brokers vs Discount Brokers

Traders need to decide whether they require full service brokers or discount brokers for their trading needs.

Full service brokers offer useful information and suggestion apart from executing orders for clients.

They support traders with financial planning, performance analysis, tax planning and more. They are perfect for beginners or those traders who want to trade in high volume.

Discount brokers, on the other hand, do not provide personal consultations to clients.

They are best for experienced traders who know their financial goals and are well informed about the tit and bits of the market. They can save money by paying less fees or commission.

Discount Brokers in Several Industries

Discount brokers are gaining popularity in other industries too. In real estate, they are playing important roles in minimizing the cost for traders. Those buyers and sellers who know perfectly what they want or need can opt for discount brokers as no suggestion or advice is required.

Discount Brokers Verdict

Traders who are well equipped with perfect knowledge about the market usually don't require any additional suggestion or advice.

For them, the discount brokers are perfect as they can curtail on the commission or fee.

However, beginners are strictly warned not to opt for such discount brokers as they offer no personal consultancies. For them, the full-service brokers are best even though their commissions and fees are a bit high.

We've collected thousands of datapoints and written a guide to help you find the best Discount Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best discount brokers below. You can go straight to the broker list here.

Reputable Discount Brokers Checklist

There are a number of important factors to consider when picking an online Discount trading brokerage.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Discount Brokers.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Discount Brokers of 2020 compared

Here are the top Discount Brokers.

Compare Discount Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are discount brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more discount brokers that accept discount clients

Broker eToro XTB Trading212 FP Markets Plus500 City Index Forex.com SpreadEx
Rating
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) Financial Conduct Authority (FCA)
Min Deposit 200 No minimum deposit 1 100 100 25 500 1
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 12,000,000+ 250,000+ 14,000,000+ 10,000+ 15,500+ 14,000+ 40,000+ 10,000+
Benefits
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
Accounts
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps Web Trader, Tablet & Mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
etoro
Sign Up with
xtb
Sign Up with
trading212
Sign Up with
fpmarkets
Sign Up with
plus500
Sign Up with
cityindex
Sign Up with
forexcom
Sign Up with
spreadex
Risk Warning 75% of retail investor accounts lose money when trading CFDs with this provider. 80% 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. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. Losses can exceed deposits 80.5% 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. 74% of retail investor accounts lose money when trading CFDs with this provider 72% of retail investor accounts lose money when trading CFDs with this provider Losses can exceed deposits
Demo eToro
Demo
XTB
Demo
Trading 212
Demo
FP Markets
Demo
Plus500
Demo
City Index
Demo
Forex.com
Demo
SpreadEx
Demo
Excluded Countries US, IR, KP, BE, CA, JP, SY, TR, IL, HK US, IN, PK, BD, NG , ID, BE US US, JP, NZ BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW BE US, TR

All Discount brokers in more detail

You can compare Discount Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Discount Brokers for 2020 article further below. You can see it now by clicking here

We have listed top Discount brokers below.

Discount Brokers List

eToro
(4/5)
Min deposit : 200
eToro was established in 2006 and is used by over 12000000+ traders. 75% of retail investor accounts lose money when trading CFDs with this provider. eToro offers CFDs, Social Trading

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 250000+ traders. 80% 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. XTB offers Forex, CFDs, Cryptocurrency

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego
Trading212
(4/5)
Min deposit : 1
Trading 212 was established in 2006 and is used by over 14000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. Trading 212 offers Stocks, Forex, Commodities, Indices

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
Plus500
(4/5)
Min deposit : 100
Plus500 was established in 2008 and is used by over 15500+ traders. 80.5% 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. Plus500 offers CFDs

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546
City Index
(3/5)
Min deposit : 25
City Index was established in 1983 and is used by over 14000+ traders. 74% of retail investor accounts lose money when trading CFDs with this provider City Index offers Forex, CFDs, Spread Betting

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS)
Forex.com
(3/5)
Min deposit : 500
Forex.com was established in 1999 and is used by over 40000+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider Forex.com offers Forex, Indices, Commodities, Equities, Cryptocurrencies

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA)
SpreadEx
(4/5)
Min deposit : 1
SpreadEx was established in 1999 and is used by over 10000+ traders. Losses can exceed deposits SpreadEx offers Forex, CFDs, and spread betting

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)