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Questions worth answering before you fund an account.

Educational material for researching broker claims. It does not tell you which broker to choose or whether trading is suitable for you.

The traderpublic newsroom

Key points

  1. No single broker suits everyone, so choose against your own needs.

  2. Check regulation, fees and account terms before you fund an account.

  3. Try a demo account before committing money.

  4. Compare several brokers on the same criteria.

Why choosing well matters

A broker holds your account, executes your orders and sets the costs you pay. The right fit can make trading steadier and clearer; a poor fit can add costs, friction and avoidable risk.

The most eye-catching broker is not always the right one for you.

Four questions worth answering

Verify the legal entity

A brand name can cover different companies. Find the entity that would hold your account before you search a regulator register.

Read the licence scope

A register entry can be current without authorising the product, country or retail-client service you expect. Read the scope, not only the status.

Price the whole trade

Compare spread, commission, financing and withdrawal terms for your likely account and position size; a headline figure is rarely the whole cost.

Treat gaps as information

A missing document, unclear entity or unverified condition is not a neutral score. Pause and seek a primary source.

Go deeper

Account types, in plain terms

Brokers name their accounts differently, but a few of those names describe real differences our desk records per broker. Here is what each one means, and where the record stops.

What trading actually costs

A headline spread is one part of the bill. This page walks through the charges that make up the rest, in the same words the desk uses when it reads a broker's fee schedule.

Six steps to choosing a broker

  • Define your needs

    Markets, budget and trading style

  • Shortlist brokers

    Compare fees, accounts and services

  • Check regulation

    Confirm the licence and the entity

  • Try a demo

    Test the platform without risking money

  • Review the service

    Deposits, withdrawals and support

  • Decide carefully

    Choose what fits you, and review it over time

What to check for your trading style

  • Beginner

    • Easy-to-use platform
    • Learning resources
    • Demo account

  • Active trader

    • Spread and commission together
    • Order execution
    • Charting tools

  • Algorithmic trader

    • Expert advisor and API support
    • Server stability
    • Latency

  • Long-term investor

    • Holding costs
    • Range of asset classes
    • The firm's long-term standing

Check regulation and trustworthiness

  • Find the regulator that licenses the broker
  • Look up the company and its licence details
  • Read the terms and conditions carefully
  • Check the firm's history and reputation

Account types

  • Standard account

    The default account at many brokers; costs are usually built into the spread, but terms vary

  • Raw or ECN account

    Quotes a spread plus a separate commission; the total cost depends on both

  • Professional account

    Open only to clients who meet the regulator's and broker's criteria; the protections and terms that apply can differ from a retail account

  • Demo account

    Uses virtual funds; it does not replicate live trading conditions

Account types explained

Fees to compare

  • Spread
  • Commission
  • Deposit fee
  • Withdrawal fee
  • Inactivity fee
BrokerSpread (from)CommissionDeposit feesWithdrawal feeMonthly inactivity fee
ActivTradesNot specifiedNot specified0%Not specifiedNot specified
ACY SecuritiesNot specifiedNot specified0%Not specifiedNot specified
Admiral Markets UK LtdNot specifiedNot specifiedNot specifiedNot specifiedNot specified
AdmiralsNot specifiedNot specified0%Not specifiedNot specified
Afrifocus SecuritiesNot specifiedNot specifiedNot specifiedNot specifiedNot specified
AJ BellNot specifiedNot specifiedNot specifiedNot specifiedNot specified
AKD SecuritiesNot specifiedNot specifiedNot specifiedNot specifiedNot specified
Allaria SecuritiesNot specifiedNot specifiedNot specifiedNot specifiedNot specified
Ally InvestNot specifiedNot specifiedNot specifiedNot specifiedNot specified
Alpha FXNot specifiedNot specifiedNot specifiedNot specifiedNot specified

Listed alphabetically. This is a directory, not an editorial ranking. Not specified means our records do not carry that fact. It does not mean the broker lacks it.

See broker records

Trading platforms

  • MetaTrader 4

    A third-party platform that many brokers offer

  • MetaTrader 5

    A later platform from the same maker; what is available depends on the broker

  • cTrader

    Another third-party platform; availability depends on the broker

  • Mobile app

    Trading from a phone, where the broker offers an app

Deposits, withdrawals and support

  • Funding methods

    Cards, bank transfer and e-wallets vary by broker

  • Processing time

    Withdrawal time varies by broker

  • Support channels

    Chat, email and phone availability

  • Languages

    Check that your language is supported

Criteria to compare side by side

  • Regulation
  • Account types
  • Platforms
  • Instruments
  • Deposits and withdrawals
  • Support
BrokerRegulationMinimum depositSpread (from)CommissionScore
ActivTradesFCA$0Not specifiedNot specified3.8 out of 5
ACY SecuritiesASIC$50Not specifiedNot specified3.6 out of 5
Admiral Markets UK LtdCySEC, FCA, MNBNot specifiedNot specifiedNot specifiedNot specified
AdmiralsCySEC€100Not specifiedNot specified3.8 out of 5
Afrifocus SecuritiesFSCANot specifiedNot specifiedNot specifiedNot specified
AJ BellFCANot specifiedNot specifiedNot specifiedNot specified
AKD SecuritiesSECPNot specifiedNot specifiedNot specifiedNot specified
Allaria SecuritiesSECNot specifiedNot specifiedNot specifiedNot specified
Ally InvestFINRANot specifiedNot specifiedNot specifiedNot specified
Alpha FXFCANot specifiedNot specifiedNot specifiedNot specified

Listed alphabetically. This is a directory, not an editorial ranking. Not specified means our records do not carry that fact. It does not mean the broker lacks it.

See broker records

Not sure which broker fits you?

Compare the same criteria across published records.

Compare brokers

Common mistakes

  • Choosing on a single feature
  • Skipping the regulation check
  • Ignoring the full fee schedule
  • Not trying a demo account
  • Deciding without comparing

Checklist before you deposit

  • Regulator and entity confirmed
  • Fees and terms read
  • Demo account tried
  • Withdrawal terms understood
  • Comfortable with the risks

Find and compare brokers

Browse every broker record published on traderpublic, or compare the same criteria side by side.

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Frequently asked questions

Which broker suits a beginner?

There is no single answer. Look for clear fees, a demo account and regulation you have checked yourself.

What should I check before opening an account?

The regulator and entity, the fee schedule, the account terms and how withdrawals work.

Is a demo account important?

It lets you test a platform and your plan without risking money, though it cannot reproduce real-market conditions in full.

Can I have more than one account?

Many brokers offer several account types, and you can hold accounts with different brokers. Each has its own terms.

What if I have a problem withdrawing money?

Contact the broker's support in writing first. If it is not resolved, the regulator named on its licence may have a complaints route.

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