We found 11 online brokers that are appropriate for Trading Discount.
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.
Lately, discount brokerage has become a common term in the financial world. It best fits experienced traders who do not require additional support from a broker, such as research, advice, and financial planning. Discount brokers charge lower fees and clients usually have none or very little interaction with them.
A discount brokerage is basically used for trading securities at a discounted or lower rate without any additional services like advice on buy or sell, financial planning, and research. It is important to note here that discount brokerage is not the same as a full-service brokerage.
In fact, a discount brokerage firm is similar to a traditional brokerage as it needs to be registered with the Securities and Exchange Commission (SEC). It also needs to be a member of the Securities Investor Protection Corp. and Financial Industry Regulatory Authority (FINRA).
Meanwhile, a discount brokerage is not limited to the securities segment. It also serves insurance clients with one-off fees, thus becoming comparatively cheaper than other insurance brokers. Discount brokerages are gaining popularity even in the real estate industry.
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.
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.
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.
Let us understand the benefits of a discount brokerage through an example. Suppose an experienced trader is looking to buy mutual funds and stocks without paying a high fee or commission to a broker. He would try contacting an online discount brokerage who is registered with required regulatory authorities and who also offers a mobile app to help to trade on the go.
As the trader is experienced, he only needs to rely on the brokerage's database and some guidance made available on the website or app. After which, the trader simply selects the discount brokerage and trades mutual funds using the broker's platform. Overall, this entire process will incur a low trading cost and be fuss-free.
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.
It is important to know whether one needs a discount brokerage or a full-service brokerage. In simpler terms, experienced traders should opt for discount brokerages, while beginners or novice traders should rely on a full-service brokerage.
The difference between the two brokerages are that the discount brokerage offers no additional services apart from providing a trading platform. On the other hand, a full-service brokerage provides investing knowledge, financial goals, current financial status, and many more services.
In general, traders are advised to opt for a full-service brokerage to get professional investment advice. It is better to pay a higher fee or commission to explore other platforms to earn better profits.
Discount brokeragea has gained immense popularity. Hence, it is not limited to securities. It also thrives in the real estate segment by helping investors and individuals to buy and sell properties. At times, full-service real estate agents and discount brokerages would offer the same home listings. Hence, it is better to buy or sell the property through a discount brokerage as you would save more money.
Discount brokerage has also pervaded the insurance industry. One can buy insurance products through a discount brokerage without taking professional financial advice.
Traders need to decide whether they require full service brokers or discount brokers for their trading needs.
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 are just like stockbrokers, but simply offer brokerage services at a discount or reduced commission. They offer no expert advice or investment planning for clients, unlike full-service brokers. Even though the services are limited, discount brokerages have been growing in popularity among traders.
However, it is important to understand that without proper knowledge, trading could be a risky venture. This is the reason why beginners and novice traders are recommended to opt for full-service brokers instead of discount brokers.
Apart from all these, it cannot be ruled out that fees or commissions eat away a good portion of the profit. This would be detrimental if multiple trading is done every single day. Therefore, experienced traders usually prefer dealing with discount brokers to overcome the high trading expenses.
Novice traders with small capital may be confused about whether to opt for a discount broker or a full-service broker. If such traders choose a discount broker, there is a risk due to the lack of sufficient knowledge about the market. However, if he deals with a full-service broker, a good portion of the profit will be eaten away in the form of commissions or fees. Therefore, novice traders should always assess their skills properly and conduct enough research to solve this dilemma.
We have conducted extensive research and analysis on over multiple data points on Discount Brokers to present you with a comprehensive guide that can help you find the most suitable Discount Brokers. Below we shortlist what we think are the best discount brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Discount Brokers.
Selecting a reliable and reputable online Discount trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Discount more confidently.
Selecting the right online Discount trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for discount trading, it's essential to compare the different options available to you. Our discount brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a discount broker that best suits your needs and preferences for discount. Our discount broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Discount Brokers.
Compare discount brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a discount broker, it's crucial to compare several factors to choose the right one for your discount needs. Our comparison tool allows you to compare the essential features 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 | IC Markets | eToro | XTB | Pepperstone | AvaTrade | FP Markets | SpreadEx | FXPro | Plus500 | ThinkMarkets | Trading212 |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) | 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, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039) FSA, Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules, Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18), Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651) DFSA | Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060, The Cyprus Securities and Exchange Commission (CySec) | Financial Conduct Authority (FCA) Firm reference number 609146, Financial Supervision Commission (FSC), Cyprus Securities and Exchange Commission (CySec) License number 398/21 |
Min Deposit | 200 | 100 | No minimum deposit | 200 | 100 | 100 | 1 | 100 | 100 | No minimum deposit | 1 |
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Used By | 180,000+ | 30,000,000+ | 935,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ | 1,866,000+ | 24,000,000+ | 500,000+ | 15,000,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | ThinkTrader, MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% 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. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider | 82% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% 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. 79% 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. |
Demo |
IC Markets Demo |
eToro Demo |
XTB Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
SpreadEx Demo |
FxPro Demo |
Plus500 Demo |
ThinkMarkets Demo |
Trading 212 Demo |
Excluded Countries | US, IR, CA, NZ, JP | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, TR | US, CA, IR | MY, BE, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO | RU, AF, Yugoslavia, AO, GM, NG, AW, GH, KR, BY, GN, BO, GN, PK, BW, HT, PG, IR, PN Island, Burma MM, IQ, RW, KH, , SN, CF, JP, Sierra, Leone, TD, KG, SO, CI , LB, SZ, CU, LS, SY, of CG, LR, TJ, DJ, LY, Tanzania, EC, Laos, TG, ER, ML, TM, ET, MN, UG, Falkland Islands, NA, US of America, FJ, NI, YE, ZW | US, CA |
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 2024 article further below. You can see it now by clicking here
We have listed top Discount brokers below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that 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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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