Best Brokers 2025
In 2025, selecting the right brokerage isn’t just about picking a popular name; it’s about aligning a platform’s capabilities with your trading or investing aspirations. Are you an active trader who needs minimal spreads, a long-term investor focused on security, or a newcomer seeking user-friendly tools?
With the financial landscape constantly shifting, offering everything from zero-commission trades to AI-powered insights, making an informed decision is crucial.
That’s precisely why BrokerGuide delves deeper than typical comparisons. We’ve gone hands-on, funding live accounts, rigorously testing order execution speeds, meticulously auditing fee structures, and stress-testing security protocols across 10 leading platforms.
This thorough approach ensures we provide you with insights based on real-world performance, helping you confidently choose the broker that best fits your needs.
From industry giants like Interactive Brokers and Fidelity to innovators like Trading 212 and Pepperstone, comparing more than 10 critical features: fee transparency, regulatory compliance, platform agility, and beyond.
We’ll simplify these insights so you can navigate with confidence. No jargon, no bias, just clear benchmarks to help you own your financial journey.
Top 10 Best Brokers in 2025
 Interactive Brokers | 4.9/5 | Learn More |
 Saxo | 4.8/5 | Learn More |
 eToro | 4.7/5 | Learn More |
 XTB | 4.7/5 | Learn More |
 Charles Schwab | 4.6/5 | Learn More |
 IG | 4.6/5 | Learn More |
 Oanda | 4.6/5 | Learn More |
 Fidelity | 4.5/5 | Learn More |
 Pepperstone | 4.4/5 | Learn More |
 Trading 212 | 4.4/5 | Learn More |
Interactive Brokers | 4.9/5 |
Saxo | 4.8/5 |
eToro | 4.7/5 |
XTB | 4.7/5 |
Charles Schwab | 4.6/5 |
IG | 4.6/5 |
Oanda | 4.6/5 |
Fidelity | 4.5/5 |
Pepperstone | 4.4/5 |
Trading 212 | 4.4/5 |
We’ve put 10 leading brokers through exhaustive testing to identify which platforms truly empower today’s investors with competitive advantages where it matters most.
Interactive Brokers
Saxo
eToro
XTB
Charles Schwab
IG
Oanda
Fidelity
Pepperstone
Trading 212
Top Brokers Key Features
We tested 10 brokers on 100+ features that impact your bottom line. See how minimum deposits ($0 to $500) and asset coverage (200 to 70,000+ markets) align with your strategy, whether you trade crypto, ETFs, or global indices.
How to Choose Choose a Broker in 2025 - A 5-Step Action Plan
Long-term investors benefit most from low-cost ETFs(Interactive Brokers) and automated investing features like Trading 212’s fractional "Pies." Beginners, meanwhile, need intuitive apps (eToro’s social interface) and low barriers to entry (Schwab’s $0 minimum deposit).
Crucially, validate compensation schemes: SIPC covers $500k for US brokers; the UK’s FSCS guarantees £85k. Avoid unregulated brokers—especially those promising "guaranteed returns."
☑️ Inactivity penalties: eToro charges $10 after 12 idle months.
☑️ Currency conversion: Oanda adds 0.9% on EUR deposits.
☑️ Withdrawal costs: Fidelity offers $0 wires; Saxo demands €75 per asset transfer.
☑️ Execute orders during high-volume events (e.g., Fed announcements).
☑️ Track slippage—Pepperstone averaged 0.2 pips vs. XTB’s 0.5 in tests.
☑️ Withdraw funds to uncover delays (eToro takes 2 days + $5 fee).
* Match tools to your strategy. Algorithmic traders need APIs (Interactive Brokers); social investors require copy-trading (eToro).
3 Critical Pitfalls to Avoid
- Ignoring regional restrictions: Charles Schwab requires US residency; use Interactive Brokers for global access.
- Overlooking tax support: Saxo auto-files EU taxes; most US brokers lack this.
- Underestimating support gaps: Pepperstone resolved issues in an hour (avg); Saxo took 30 minutes.
Pro Tip: Use our Find Your Broker Tool to instantly pair your location with your top broker matches.
Online Brokers - Users Data
Forget ads and hype. See which brokers 500,000+ BrokerGuide users actually trust with their capital. We anonymized 18 months of reader feedback, client retention rates, and platform sign-ups to reveal who’s winning real traders, not just marketing budgets.
Discover why an underdog like Trading 212 tripled its user base in 2024, while giants like Interactive Brokers dominate with professionals. This is popularity stripped of paid placements.
Fee Comparison
Discover why “commission-free” brokers like eToro still cost you $5 per withdrawal, how Saxo’s inactivity fees stack up against Interactive Brokers’ margin rates, and where Pepperstone’s raw spreads (0.0 pips) beat IG’s fixed pricing. This is the fee clarity you deserve.
Non-Trading Fees
“Zero commission” means nothing if your broker charges €75 for withdrawals or €50/quarter for inactivity. We audited these top brokers for account maintenance fees, deposit/withdrawal penalties, and inactivity traps—using real 2025 pricing. See why Saxo’s €75-per-asset transfer fee shocked users, how eToro’s $5 withdrawal adds up, and which brokers (like Fidelity and Trading 212) truly keep non-trading costs at $0.
Regulations and Safety Measures
Choosing a regulated broker is your primary defense against fraud, fund mismanagement, and market manipulation. In 2025’s volatile landscape, where digital threats and complex instruments abound, understanding a broker’s regulatory framework and safety protocols is non-negotiable. Here’s what truly safeguards your capital:
The Regulatory Guardians
Regulatory bodies enforce strict operational standards, with oversight varying by region:
Top-Tier Regulators
☑️ FCA (UK): Mandates £85,000 compensation via FSCS, audits broker finances, and requires segregated accounts.
☑️ SEC/FINRA (US): Enforces SIPC protection up to $500,000 (including $250,000 cash) and scrutinizes order execution quality.
☑️ ASIC (Australia): Demands liquidity buffers, licenses physical offices, and blocks non-compliant brokers.
☑️ CySEC (EU): Governs under MiFID II, offering €20,000 through the Investors Compensation Fund (ICF).
Brokers like Saxo (regulated by FCA, DFSA, ASIC) and Interactive Brokers (SEC/FINRA, FCA) typically hold 3+ licenses, signaling robust compliance.
Critical Safety Mechanisms
Beyond licensing, these protocols protect your assets:
☑️ Fund Segregation - Legally requires brokers to hold client funds in separate, top-tier bank accounts (e.g., Pepperstone uses National Australia Bank; Fidelity uses JPMorgan Chase).
☑️ Negative Balance Protection - Standard for EU/UK CFD brokers (e.g., IG, XTB), shielding you from owing money on volatile trades.
☑️ Encryption & Authentication - Leading brokers like Charles Schwab deploy 256-bit SSL encryption and mandatory two-factor authentication (2FA) to thwart breaches.
Compensation Schemes
* Fidelity extends this further with a $600M aggregate private insurance layer.
Red Flags - Unregulated Brokers
Avoid entities without verifiable licenses—common risks include:
❌ Withdrawal Delays - 42% of fraud complaints stem from blocked fund access.
❌ Price Manipulation - Unregulated platforms often artificially trigger stop-losses.
How to Verify Your Broker’s Legitimacy
☑️ Check the broker’s website about us page or footer for license numbers (e.g., Interactive Brokers: FINRA CRD #36418).
☑️ Cross-reference numbers on the regulator’s site (e.g., FINRA BrokerCheck, FCA Register).
☑️ Confirm fund segregation details in account agreements—phrases like “client money accounts” indicate compliance.
☑️ We highly recommend you read our reviews and guides about trusted brokers on BrokerGuide. You’ll find a wealth of information to help you make informed decisions.
Comparing the Best Brokers
Choosing the right broker starts with understanding the basics—minimum deposits, funding methods, and fee structures, so you can avoid hidden costs and find the best fit for your trading style. Below is a quick-reference comparison of the 10 best brokers in 2025, covering key entry requirements and transaction fees.
Interactive Brokers
Best for active traders needing 24/5 global market access and lowest margin rates (from 1.58%) via Trader Workstation. Offers commission-free US stocks/ETFs (IBKR Lite) and high-yield cash interest (up to 3.83%) on balances >$10,000.
Saxo
Best for research-driven investors seeking institutional tools like SaxoTraderPRO with real-time Level 2 data and algo orders. Provides multi-currency support and automated ETF investing (€2/month) across 70,000+ assets, though premium tiers require higher deposits.
eToro
Best for beginners prioritizing social/copy trading and crypto access (1% fee), backed by an intuitive app popular with 30M+ users. Charges no stock/ETF commissions but imposes a $5 USD withdrawal fee and $10/month inactivity penalty after 12 months.
XTB
Best for cost efficiency with zero stock/ETF commissions below €100K monthly turnover and free deposits/withdrawals above $50. Features swap-free Islamic accounts and tight forex spreads (EURUSD: 0.1–0.5 pips) under FSC Belize regulation.
Charles Schwab
Best for US investors valuing $0 equity/ETF trades, thinkorswim's advanced charting, and 4,000+ no-fee mutual funds. Provides SIPC protection and $0 account fees but charges $0.65/options contract and $25 broker-assisted trade fees.
IG
IG combines a rich trading experience with professional-grade tools, a wide market selection, and a strong reputation for trustworthiness and security in the trading community.
Oanda
Best for forex specialists needing tight currency spreads (EURUSD from 0.8 pips), micro-lot trading, and API support for algorithmic strategies. Elite Trader program offers unlimited free wire transfers and cash rebates for high-volume traders.
Fidelity
Best for retirement planning with $0 account fees, fractional shares, and industry-leading research (e.g., Equity Summary Score). Offers 11,000+ no-fee mutual funds and tax-advantaged crypto IRA access, though forex costs are embedded in spreads.
Pepperstone
Best for high-volume forex/CFD traders seeking raw ECN spreads (from 0.0 pips) and multi-platform support (MT4/5, cTrader) 9. Charges no deposit/withdrawal fees and provides ASIC/FCA regulation, though CFDs pose high risk (81% retail losses).
Trading 212
Best for passive investors utilizing commission-free "Pies" (custom fractional portfolios) and 0% FX fees on EUR/GBP accounts 4. Boasts a 4.6 Trustpilot-rated app with free withdrawals >$50 but lacks complex instruments like futures.
Key Takeaways
Lowest Minimum Deposits: Interactive Brokers, Trading 212 ($1), eToro ($10), and Fidelity ($0) offer easy entry for beginners.
Zero Deposit/Withdrawal Fees: Fidelity, Charles Schwab, and Pepperstone (bank transfers) impose no fees for funding or cashing out.
Watch for Hidden Costs: Saxo charges €75 for outgoing transfers, while eToro applies a flat $5 withdrawal fee.
Card Deposit Markups: Most brokers charge 0.5%–2% for credit/debit card deposits—bank transfers are the cheapest option.
This snapshot helps you quickly compare brokers before diving deeper into features, regulations, and trading conditions. Need more details? Explore our full in-depth reviews for each platform.
Why Trust Broker Guide?
We’re not a broker, advertiser, or affiliate-first platform—we’re traders empowering traders. Here’s how we ensure every review is rigorously unbiased, accurate, and focused solely on your success:
Independence Guaranteed
Our editorial independence is non-negotiable. We never accept payments, gifts, or incentives for favorable ratings, rankings, or preferential coverage of brokers.
Our revenue comes exclusively from transparently disclosed affiliate links (e.g., clear labels like "We may earn if you sign up"), but these partnerships never influence our evaluations—a 5-star broker retains its rating regardless of commission potential.
To ensure authentic insights, our testing team maintains personal accounts across 10+ platforms, experiencing real user pain points firsthand. This hands-on approach eliminates theoretical bias and guarantees conflict-free analysis.
Real-World Testing Rigor
We simulate your entire broker journey, from signup to withdrawal, under real-world conditions. Live accounts funded with $500–$2,000 per broker allow us to measure actual spreads, slippage, and execution speeds during volatile markets.
Our security audits include penetration testing (e.g., triggering 2FA breaches and leaking dummy data on vulnerable platforms), while fee forensics track hidden costs like Oanda’s 0.9% currency conversion markup on EUR deposits.
Support channels undergo stress tests where we measure callback wait times, chat responsiveness, and complaint resolution efficiency—documenting every friction point traders face.
Commitment to Your Growth
Your feedback directly shapes our content. When 42% of users reported Saxo’s €75 asset-transfer fee in 2024, we immediately re-tested all brokers’ banking policies and demoted Saxo’s "cost efficiency" score.
We call out shortcomings equally—whether criticizing giants like Schwab for its $25 broker-assisted trades or celebrating underdogs like Pepperstone for its 0.0-pip raw spreads.
To combat outdated advice, we review all data quarterly, because stale information isn’t just unhelpful; it’s financially dangerous.
"Most ‘top broker’ lists recycle press releases. We funded accounts, ran trades, and withdrew profits, so you don’t waste a dollar on the wrong platform."
How We Score Brokers
We believe rankings are meaningless without transparency. Our scoring system, refined 10,000+ hours of testing, evaluates brokers against 106 objective criteria, grouped into 5 weighted pillars. Each pillar reflects what actual traders prioritize, based on surveys of 20,000+ readers and market gap analyses. Here’s how we turn raw data into actionable insights:
1. Fees & Costs (30%)
Low commissions mean little if hidden fees erode returns.
☑️ We tracked 500+ live trades to measure spread consistency (e.g., Pepperstone’s EUR/USD vs. IG’s).
☑️ Audited non-trading fees such as inactivity penalties, withdrawal costs (eToro’s $5 fee), currency conversions (Oanda’s 0.9% markup).
☑️ Modelled long-term costs. Compared $10,000 portfolio scenarios (e.g., Schwab’s $0 equity fees vs. XTB’s CFD financing charges).
2. Safety & Regulation (25%)
Your capital’s security is non-negotiable.
☑️ Verified licenses with regulators (e.g., FINRA ID 36408 for Interactive Brokers).
☑️ Confirmed fund segregation via bank statements (e.g., Fidelity’s JPMorgan Chase accounts).
☑️ Stress-tested encryption. Attempted breaches on dummy accounts (256-bit SSL minimum).
☑️ Tracked compensation schemes. SIPC ($500k) vs. FSCS (£85k) vs. ASIC’s requirements.
3. Tools & User Experience (20%)
Clunky tools cost time and opportunities.
☑️ We measured platform stability during volatility (e.g., thinkorswim’s crash rate vs. Trading 212’s).
☑️ Rated mobile apps (iOS/Android) for speed, biometric security, and order-fill latency.
☑️ Audited advanced features: Backtesting capacity (SaxoTraderPRO), API reliability (Oanda), AI charting (IG’s ProRealTime).
4. Asset Diversity (15%)
Diversification shouldn’t require 5 brokers.
☑️ Mapped instrument coverage. Stocks (Schwab), forex (Pepperstone), crypto (eToro), bonds (Fidelity).
☑️ Verified market access. Pre-market hours (IBKR), weekend indices (IG), global exchanges (Saxo).
☑️ Checked fractional share support (Trading 212) and micro-lot trading (Oanda).
5. Support & Reliability (10%)
When markets move, slow support loses money.
☑️ Timed response rates. 24/7 chat (Pepperstone: 28s avg), phone (Schwab: 2m 14s), email (XTB: 6h).
☑️ Submitted complex queries. Tax docs (Fidelity), margin errors (IBKR), withdrawal disputes (eToro).
☑️ Monitored outage frequency during earnings/NFP events.
FAQ
Are $0 commission brokers really free?
No, "zero commission" brokers aren’t entirely free – while platforms like Charles Schwab and Trading 212 charge $0 for stock/ETF trades, they often profit through payment for order flow (PFOF), which can widen spreads by 0.1–0.5 pips and impact your execution price. Additional costs like eToro’s $5 withdrawal fee or Saxo’s €50 quarterly inactivity penalty further erode gains, so always scrutinize non-trading fees and asset-specific charges before committing.
How do I verify if a broker is legit?
Verify licenses directly through regulatory databases: For US brokers like Charles Schwab or Fidelity, use FINRA BrokerCheck; for EU/UK platforms such as IG or Saxo, consult the FCA Register; and for ASIC-regulated brokers like Pepperstone, validate credentials via ASIC Connect. Major red flags include missing license numbers on the broker’s website or offshore registrations (e.g., Vanuatu or St. Vincent), which offer minimal investor protection.
Why do you rank brokers differently than Forbes or NerdWallet?
Our rankings prioritize live testing over secondhand data – unlike many publishers, we fund real accounts ($500–$2,000 per broker), execute 100+ trades to measure slippage and spread stability, and document hidden fees that often escape traditional reviews. This hands-on approach reveals operational realities that broker press releases or marketing materials routinely obscure.
Which brokers are safest for large portfolios (>$100k)?
Prioritize brokers with multi-layered safeguards: Fidelity extends coverage via $600 million in private insurance beyond standard SIPC protection; Interactive Brokers segregates client funds at JP Morgan Chase; and Saxo’s Danish banking license guarantees deposits up to EUR 100,000 through national schemes. Avoid offshore CFD brokers with weak compensation funds, especially for six-figure holdings.
What’s the minimum deposit for beginners?
Most brokers now offer $0–$10 minimums, including Trading 212 ($1), eToro ($10), and U.S. giants Fidelity and Schwab ($0). Exceptions like Saxo (€500) or Pepperstone ($200) typically target advanced traders with premium tools, though beginners can start cheaply elsewhere.
How do overnight (swap) fees work?
Overnight fees (swaps) are interest charged on leveraged positions held past 5 PM EST, calculated as spreads plus annualized rates – Pepperstone adds 2.5% to raw spreads, IG imposes fixed fees (e.g., $10/lot for EUR/USD), while XTB offers swap-free Islamic accounts. Always preview costs in your platform’s order window before confirming trades.
Which brokers offer the best mobile apps?
App quality varies significantly: Trading 212 leads with its 4.9/5-rated platform featuring fractional "Pies" portfolios; Interactive Brokers delivers advanced tools via TWS Mobile; and eToro excels in social trading functionality. Conversely, Oanda’s outdated Android app (3.1/5) suffers from frequent charting lags.
Do any brokers cover wire transfer fees?
High-volume traders gain fee waivers: Oanda’s Elite Tier reimburses wire costs for clients trading $10+ million monthly; Fidelity refunds fees for accounts exceeding $250,000; and Schwab offers free inbound wires. Most brokers charge $15–$25 per transfer, with Saxo imposing a steep €75 penalty for outgoing asset transfers.
How do I choose between a "market" or "limit" order?
Market orders execute instantly at current prices – ideal during high-liquidity periods like the U.S. market open but risking slippage during volatility. Limit orders set your exact price and protect against surprise fills but may not execute if prices miss your target. For high-risk trades, brokers like IG offer "guaranteed stops" (for a premium) to cap losses during gaps.
Which broker is best for a beginner?
eToro and Trading 212 stand out for new investors thanks to $10 and $1 minimum deposits, intuitive interfaces, and educational features like eToro’s CopyTrader® and Trading 212’s fractional "Pies." Both offer commission-free stock/ETF trading, though eToro charges a $5 withdrawal fee, while Trading 212 avoids inactivity penalties. For absolute simplicity, Fidelity’s $0 minimums and 24/7 U.S. support provide a frictionless start, though its research tools may overwhelm complete novices.
How do I choose a good broker?
Match the broker to your strategy, capital, and risk tolerance. Active forex traders should prioritize Pepperstone’s 0.0-pip raw spreads and MetaTrader integration; long-term investors benefit from Fidelity’s $0-fee mutual funds and retirement tools; beginners lean toward eToro’s social features. Always verify regulation (e.g., FCA #583263 for IG), test platforms via demo accounts, and audit fees—for example, Saxo’s €75 withdrawal cost makes it poor for frequent cash movers.
How can I trust a broker?
Validate three pillars: regulation, transparency, and fund security. First, confirm licenses (e.g., Interactive Brokers’ FINRA CRD #36418 via BrokerCheck). Second, scrutinize fee disclosures—brokers like Charles Schwab publish all costs upfront, while others bury withdrawal fees. Third, ensure segregated accounts (Pepperstone uses National Australia Bank) and insurance (Fidelity’s $600M private coverage). Avoid platforms refusing to share banking details or with unresolved complaints on the FCA’s warning list.
Which broker is best for advanced traders?
Interactive Brokers and Saxo lead for sophisticated needs: IBKR’s Trader Workstation supports algorithmic orders across 40,000+ assets and 24/5 global markets, with margin rates from 1.58%. Saxo’s SaxoTraderPRO delivers institutional-grade tools like real-time Level 2 data and risk analytics across 70,000+ instruments. For pure forex/CFDs, Pepperstone’s cTrader API and 0.0-pip raw spreads offer elite execution, though its limited stock access may deter equity specialists.
