When hundreds of service providers compete for your business online, finding a suitable free trade platform might take time and effort. Some of these criteria include the platform’s credibility, ability to facilitate your chosen financial market, the reasonableness of its costs, and the quality of its customer service. Additional trade-related variables must be considered, such as those trading tools and features, instructional resources, and chart reading indicators.
Below you’ll find a review of some of the best trading platforms available in 2022 to help you get started.
1. eToro
In 2022, eToro will likely still be a highly recommended trading platform. First, the broker is ideal for rookies in online trading. The platform’s ease of use and acceptance of little bets are two major contributing factors. For instance, you may start trading with a $200 investment and a $25 minimum. eToro allows you to trade in a wide variety of assets. This encompasses 2,400 equities from 17 exchanges. Stocks in corporations situated in the United States, Canada, the United Kingdom, Hong Kong, and a plethora of European markets are all available for purchase.
You may trade 16 different cryptocurrencies and over 250 exchange-traded funds on eToro. eToro is a great option for commodities trading, as it allows you to trade precious metals, fossil fuels, and agricultural products. In addition, eToro provides a sizable platform for trading foreign currencies. Most importantly, trading on eToro is always commission-free across all financial markets. eToro is a fantastic trading platform for people looking for a low-cost supplier because there are no continuing costs.
2. Interactive Brokers
IBKR is a reliable, well-capitalized public company that handles $2.17 million daily trading values over 1.92 million customer accounts. Established in 1978 as T.P. & Co. under current chairman Thomas Peterffy. Even though it was an early adopter of trading via computer, it wasn’t until 1993 that Interactive Brokers Inc. became a legally recognized broker-dealer in the United States. In the present day, it has developed into one of the most comprehensive brokers available. IBKR is the greatest international broker because of its access to 150 markets, trading options, futures, currencies, bonds, funds, cryptocurrency, and more in 200 countries, and financing methods accessible in 24 currencies. The corporation is continually innovating to keep a wide lead over rivals. Recent innovations include the payment of market-rate interest on idle funds, the release of a mobile app for trading on the go with IBKR Global Trader, and the introduction of trading in fractional shares for European stocks and exchange-traded funds.
The desktop and online editions of IBKR, the mobile IBKR Mobile and the app IBKR Global Trader, give international traders access to all financial markets and assets.
3. VantageFX
VantageFX is a worldwide CFD broker dealing in a wide variety of financial instruments. One of the top trading platforms for large holdings, the platform provides leverage of up to 500:1 for key currency pairings. Even with a basic trading account, the smallest possible contract size is just 0.01. VantageFX offers commission-free CFD trading for all regular accounts. Trading spreads begin at 1.4 pips, which is slightly higher than typical. However, you won’t have to worry about any hidden costs associated with making deposits, making withdrawals, or sitting on funds in your account. With VantageFX, you can open an ECN account for as little as $500. Spreads start at 0.0 pips, and the commission is $3 per lot.
Is eToro right for you?
eToro is a digital currency exchange that supports Bitcoin in addition to over 25 others. Although the corporation operates on a worldwide scale, etoro USA investors have access to a distinct set of products.
Investors in the United States can trade on their own, copy the portfolios of successful traders using eToro’sCopyTrader technology, or invest in one of eToro’s Smart Portfolios, managed portfolios of digital currencies. The platform also includes a learning center with videos and articles, a wallet storage service for digital currencies, and the ability to use debit cards.
eToro was established in 2007 by Yoni Assia, Ronen Assia, and David Ring, although it didn’t begin catering to American investors until 2018. More than 25 million people have signed up with eToro, the company claims. The eToro app may be used on desktop computers and iOS and Android mobile devices.