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Best brokers for beginners in Bahrain in 2020

To find the best online brokers for beginners in Bahrain in 2020, we went ahead and did the research for you. We made interviews with newbies, without any trading experience. We tested 63 brokers and 5 made it to the top. They confirmed these top 5. And now without further ado...

The best online brokers for beginners in Bahrain in 2020 are:

  1. eToro is the best broker for beginners in Bahrain in 2020. Free stock and ETF trading . Seamless account opening. Social trading experience.
  2. Swissquote is the runner-up. Access to many markets and products. No inactivity fee. Rock-solid background.
  3. Firstrade is placed number three. Free stock, ETF, fund, and options trading. Solid research tools. Quality educational tools.
  4. Questrade is number four. Solid research tools. Great desktop trading platform. Superb customer service.
  5. Internaxx made it to the best broker for the beginner list. Great research by Morningstar. Outstanding investment fund offering. Good customer service.
Best brokers for beginners in Bahrain in 2020
Broker Info Best in
#1 eToro Global social trading broker Best broker for cryptos
#2 Swissquote Swiss investment bank
#3 Firstrade US discount broker Best broker for funds
#4 Questrade Canadian stockbroker
#5 Internaxx Luxembourg online broker

What makes a good broker for beginners? Two things above all: keep it simple and guide the client. The trading platform needs to be clean, and understandable. Fair fees are also important (learn more about brokerage fee here). Have great educational tools, like a demo account, provide webinars or courses. It must be easy to open an account and deposit.

Easy to list, but hard to figure it out. We are testing brokers along more than 100 criteria with real accounts and real money. We know what's up.

Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best online brokers for beginners in Bahrain in 2020 one by one. Starting with the winner, eToro.

eToro Logo

#1 Best broker for beginners
eToro

4.6

eToro is a well-known Israeli fintech startup, a social trading broker established in 2007.

eToro serves UK clients through an entity regulated by the Financial Conduct Authority (FCA), Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot entity that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its site and does not have a bank parent.

eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech startup.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

Recommended for traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

Pros Cons
Free stock and ETF trading High forex fees
Seamless account opening Withdrawing money can be slow
Social trading experience Only one account base currency

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75% of retail CFD accounts lose money

eToro offers a user-friendly and well-designed web trading platform. In addition, social trading is also available. On the other hand, the customizability is limited.
Best brokers for beginners - eToro trading platform
eToro trading platforms
eToro Swissquote Firstrade Questrade Internaxx
Web platform score 4.4 4.2 4.3 3.3 2.8
Mobile platform score 4.9 4.7 3.3 4.3 3.3
Desktop platform score - - - 4.3 -

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75% of retail CFD accounts lose money

eToro offers free stock trading. On the negative side, forex trading fees are high and there is a fee charged for inactivity or withdrawal.
eToro fees
eToro Swissquote Firstrade Questrade Internaxx
US stock $0.0 $25.0 $0.0 $5.0 $18.4
UK stock $0.0 $30.0 - - $18.4
EURUSD benchmark fee $19.6 $15.8 - $17.5 -

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75% of retail CFD accounts lose money

eToro's education tools are limited, with only some medium-quality videos about investing available.
Best brokers for beginners - eToro education

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75% of retail CFD accounts lose money

Account opening at eToro is seamless and very fast.
eToro minimum deposit and time to open an account
eToro Swissquote Firstrade Questrade Internaxx
Minimum deposit $200 $0 $0 $1,000 $0
Time to open account 1 day 1 day 1-3 days 1 day >3 days

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75% of retail CFD accounts lose money

Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
eToro withdrawal fee and options
eToro Swissquote Firstrade Questrade Internaxx
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes No No No No
Electronic wallets Yes No No Yes No
Withdrawal fee $5 $10 $0 $0 $0

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75% of retail CFD accounts lose money

#1 eToro
Verdict

eToro has zero-commission stock trading. Account opening is swift and seamless. It also has a lot of innovative features, like social trading and copying other (successful) traders.

It has some drawbacks, though. Forex fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.

Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro
Summary eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.2
Recommended for Traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

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75% of retail CFD accounts lose money

Swissquote Logo

#2 Best broker for beginners
Swissquote

4.7

Swissquote is a Swiss investment bank established in 1996. It has two main trading arms: a Swiss unit for trading stocks, funds, options and futures and a company in the UK for CFDs and forex.

Formally, Swissquote Bank Ltd is based in Switzerland and is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the country's financial regulator.

The other entity, Swissquote Ltd, is UK-based and offers CFDs and forex. It is regulated by the Financial Conduct Authority (FCA), the UK's financial authority.

Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, discloses detailed financials regularly and it has a long track record.

For clarity, in this review we focus on the Swiss entity, but also discuss services of the UK arm, especially in the case of CFD and forex trading. To make it clear which company we are talking about, we will refer to the Swiss entity as "Swissquote (CH)" and to the UK-based entity as "Swissquote Forex (UK)".

Recommended for affluent investors who value safety and are ok with higher fees

Pros Cons
Access to many markets and products High trading fees
No inactivity fee Confusing trading platform selection
Rock-solid background Some research tools are not free

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The Swissquote (CH) eTrading platform has a lot of functions, so many that sometimes it can get complicated. Customizability is good and a there is a clear overview of trading fees, but you may run into some bugs.
Best brokers for beginners - Swissquote trading platform
Swissquote trading platforms
eToro Swissquote Firstrade Questrade Internaxx
Web platform score 4.4 4.2 4.3 3.3 2.8
Mobile platform score 4.9 4.7 3.3 4.3 3.3
Desktop platform score - - - 4.3 -

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Swissquote doesn't charge an inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including for stocks and ETFs, and there is a fee for withdrawing your money.
Swissquote fees
eToro Swissquote Firstrade Questrade Internaxx
US stock $0.0 $25.0 $0.0 $5.0 $18.4
UK stock $0.0 $30.0 - - $18.4
EURUSD benchmark fee $19.6 $15.8 - $17.5 -

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Swissquote provides easy-to understand and professional educational videos, ebooks, webinars and tutorials.
Best brokers for beginners - Swissquote education

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Swissquote offers a fully digital account opening, although we encountered some technical difficulties during the identification process. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.
Swissquote minimum deposit and time to open an account
eToro Swissquote Firstrade Questrade Internaxx
Minimum deposit $200 $0 $0 $1,000 $0
Time to open account 1 day 1 day 1-3 days 1 day >3 days

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Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer.
Swissquote withdrawal fee and options
eToro Swissquote Firstrade Questrade Internaxx
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes No No No No
Electronic wallets Yes No No Yes No
Withdrawal fee $5 $10 $0 $0 $0

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#2 Swissquote
Verdict

Swissquote is an investment bank with a rock-solid background:

  • It is Swiss,
  • it is listed on an exchange
  • and it is a bank

It has two main entities, one in the UK and one in Switzerland. If you open an account at the London-based entity you can trade forex and CFDs, while the Swiss entity gives you access to asset classes ranging from stocks to options.

Swissquote offers a broad range of products across many markets. There are many stocks, mutual funds, and a lot of different other types of products, from bonds to cryptos.

However, nothing comes for free: Swissquote's trading fees are relatively high

All in all, Swissquote is a great stockbroker. As you can trade many products and no inactivity fee is charged, feel free to give it a try.

Swissquote
Summary Swissquote is a Swiss online broker with a banking license. It is listed on the Swiss stock exchange and regulated by several authorities globally, including the top-tier UK FCA.
Fees score 2.3
Recommended for Affluent investors who value safety and are OK with higher fees

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Firstrade Logo

#3 Best broker for beginners
Firstrade

4.5

Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name of First Flushing Securities.

Firstrade is considered safe because it has a long track record and is regulated by top-tier regulators.

Recommended for beginners and investors looking for zero-commission trading, focusing on the us market

Pros Cons
Free stock, ETF, fund, and options trading No credit/debit cards and electronic wallets for money transfer
Solid research tools You can trade only on US markets
Quality educational tools No live chat and 24/7 availability

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During our testing, we found Firstrade's web platform is simple and easy to use. If you are a beginner, then you can easily navigate it. On the negative side, it lacks a two-step login and the customizability is limited.
Best brokers for beginners - Firstrade trading platform
Firstrade trading platforms
eToro Swissquote Firstrade Questrade Internaxx
Web platform score 4.4 4.2 4.3 3.3 2.8
Mobile platform score 4.9 4.7 3.3 4.3 3.3
Desktop platform score - - - 4.3 -

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Firstrade has low fees. It offers free stock, ETF, funds, and options trading. The non-trading fees are low too. However, the margin rates are high.
Firstrade fees
eToro Swissquote Firstrade Questrade Internaxx
US stock $0.0 $25.0 $0.0 $5.0 $18.4
UK stock $0.0 $30.0 - - $18.4
EURUSD benchmark fee $19.6 $15.8 - $17.5 -

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Are you a beginner or you believe in life long learning? Then Firstrade is clearly a good match for you. They offer good quality educational articles, a useful glossary, a bunch of platform videos and useful webinars. However, a demo account is missing.
Best brokers for beginners - Firstrade education

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The account opening is fully digital and user-friendly. Firstrade is available for US and some non-US customers. On the flip side during the test we experienced a slower account opening, that took almost 3 business days.
Firstrade minimum deposit and time to open an account
eToro Swissquote Firstrade Questrade Internaxx
Minimum deposit $200 $0 $0 $1,000 $0
Time to open account 1 day 1 day 1-3 days 1 day >3 days

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We liked a lot Firstrade's user-friendly deposit and withdrawal process. There is no deposit fee and transferring money is easy. At the same time, there is still room for improvement. You can use only bank transfer and a high fee is charged for wire transfer withdrawals.
Firstrade withdrawal fee and options
eToro Swissquote Firstrade Questrade Internaxx
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes No No No No
Electronic wallets Yes No No Yes No
Withdrawal fee $5 $10 $0 $0 $0

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#3 Firstrade
Verdict

Firstrade is one of the biggest discount US stockbrokers regulated by top-tier regulators.

It offers free stock, ETF, mutual funds, and options trading. It doesn't charge inactivity and account fees and there are a lot of quality research and educational tools you can use.

To provide an unbiased picture we have to mention some drawbacks though. Firstrade doesn't provide credit/debit cards and electronic wallets for transferring money. Are you interested only in U.S. market products? If yes, then you will be delighted. Otherwise, you might find insufficient that the product portfolio covers only the US market. The customer service is only 24/5 and you can't contact them via live chat. 

As there are low fees and no inactivity fee is charged, feel free to try Firstrade.

Firstrade
Summary Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.
Fees score 4.5
Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

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Questrade Logo

#4 Best broker for beginners
Questrade

4.5

Questrade was founded in 1999 and it is one of the most popular brokerage firms in Canada. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

Questrade is considered safe because it has a long track record and is regulated by a top-tier regulator.

Recommended for traders and investors focusing on the canadian and us markets

Pros Cons
Solid research tools Slow account opening process for international customers
Great desktop trading platform High inactivity fee
Superb customer service High withdrawal fee for non-Canadians

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Questrade's web trading platform offers a simple, intuitive design, a wide variety of order types and price alerts. On the flip side, its customizability is limited, a two-step login process is not available and it doesn't offer a clear fee report.
Best brokers for beginners - Questrade trading platform
Questrade trading platforms
eToro Swissquote Firstrade Questrade Internaxx
Web platform score 4.4 4.2 4.3 3.3 2.8
Mobile platform score 4.9 4.7 3.3 4.3 3.3
Desktop platform score - - - 4.3 -

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Questrade asset fees for stocks, ETF's, and funds are competitively low. On the other hand, it charges a high inactivity fee, $24.95 per quarter.
Questrade fees
eToro Swissquote Firstrade Questrade Internaxx
US stock $0.0 $25.0 $0.0 $5.0 $18.4
UK stock $0.0 $30.0 - - $18.4
EURUSD benchmark fee $19.6 $15.8 - $17.5 -

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Questrade offers an adequate amount of educational and tutorial materials for both novice and advanced traders. Although, the educational section could be more structured.
Best brokers for beginners - Questrade education

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For Canadian citizens, the account opening at Questrade is easy and fully digital. On the other hand, you'll need to start with a high deposit of $1,000.
Questrade minimum deposit and time to open an account
eToro Swissquote Firstrade Questrade Internaxx
Minimum deposit $200 $0 $0 $1,000 $0
Time to open account 1 day 1 day 1-3 days 1 day >3 days

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Deposits and withdrawals are free with EFT for Canadians and the process is user-friendly. Credit/debit cards are not available. Funding & withdrawals are expensive for non-Canadian citizens..
Questrade withdrawal fee and options
eToro Swissquote Firstrade Questrade Internaxx
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes No No No No
Electronic wallets Yes No No Yes No
Withdrawal fee $5 $10 $0 $0 $0

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#4 Questrade
Verdict

Questrade is the fastest growing online brokerage firm in Canada and for a good reason.

Their customer service is outstanding, they provide relevant information in a quick manner and the research tools are advanced. The desktop trading platform offers a lot of tools and it is user-friendly.

Questrade has some shortcomings as well. Even though the account opening process for Canadians is quick and easy, it's slow and time-consuming if you are not Canadian. It charges a high inactivity fee for accounts with $5,000 or less if no trades are made for a quarter year. Lastly, you can face high withdrawal fees if you yre not a Canadian citizen.

Since Questrade has a solid background, advanced research tools, a wonderful trading platform and offers excellent customer service, feel free to give it a try.

Questrade
Summary Questrade is a Canadian online brokerage firm. Questrade is a member of Canadian self-regulatory industry body IIROC and the Canadian Investor Protection Fund (CIPF).
Fees score 3.2
Recommended for Traders and investors focusing on the Canadian and US markets

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Internaxx Logo

#5 Best broker for beginners
Internaxx

3.4

Internaxx is a Luxembourgish online brokerfounded in 2000 and recently acquired by Swissquote. The broker is specialized in international investors and ex-pats. Internaxx is regulated by the Luxemburg based top-tier regulator, Commission de Surveillance du Secteur Financier (CSSF).

Internaxx is considered safe because it is regulated by CSSF and has a banking license.

Recommended for buy-and-hold investors with relatively large amounts to invest

Pros Cons
Great research by Morningstar High fees
Outstanding investment fund offering Slow and not fully digital account opening process
Good customer service Limited education materials

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Internaxx has a well-designed and user-friendly web trading platform. On the flip side, it lacks the customizability, the two-step login and order types are limited.
Best brokers for beginners - Internaxx trading platform
Internaxx trading platforms
eToro Swissquote Firstrade Questrade Internaxx
Web platform score 4.4 4.2 4.3 3.3 2.8
Mobile platform score 4.9 4.7 3.3 4.3 3.3
Desktop platform score - - - 4.3 -

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Compared to other brokers we tested, Internaxx has high trading fees and average non-trading fees. On the other hand, the fund fees are low and there is no withdrawal fee.
Internaxx fees
eToro Swissquote Firstrade Questrade Internaxx
US stock $0.0 $25.0 $0.0 $5.0 $18.4
UK stock $0.0 $30.0 - - $18.4
EURUSD benchmark fee $19.6 $15.8 - $17.5 -

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You will find some educational articles, but tutorial videos, webinars and demo accounts are completely missing.
Best brokers for beginners - Internaxx education

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In case you want to trade with stocks or ETFs you can open an account without a required minimum amount. Unfortunately, the process is not fully digital as you need to submit the docs by post.
Internaxx minimum deposit and time to open an account
eToro Swissquote Firstrade Questrade Internaxx
Minimum deposit $200 $0 $0 $1,000 $0
Time to open account 1 day 1 day 1-3 days 1 day >3 days

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At Internaxx, the multi-currency account is a convenient solution to have an account in 9 different currencies. On the flip side, you can deposit and withdraw only via bank transfer.
Internaxx withdrawal fee and options
eToro Swissquote Firstrade Questrade Internaxx
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes No No No No
Electronic wallets Yes No No Yes No
Withdrawal fee $5 $10 $0 $0 $0

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#5 Internaxx
Verdict

Internaxx concentrates on funds, stocks and cryptocurrency. You will like their research tools provided by Morningstar, a professional research company. The customer is good as they provide fast and relevant answers,

On the other hand, Internaxx’s trading fees are expensive and the inactivity fee is high. The account opening is not fully digital and therefore sluggish. You should expect only a couple of written educational materials and you can deposit your account only via bank transfer.

Internaxx
Summary Internaxx is a Luxembourg-based broker. It has a banking background and is regulated by the CSSF, the Luxembourg financial regulator.
Fees score 1.5
Recommended for Buy-and-hold investors with relatively large amounts to invest

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Best brokers for beginners
What makes a great broker for beginners

Now you know the best best brokers for beginners. Curious how we came up with this list? Let's go through two points. Are they safe? How did we compile the list?

Are these brokers safe?

You can be sure none of them is a scam. They are regulated by at least one top-tier regulator. Some of them are also listed on an exchange, and some have a banking background.

However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.

If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best brokers for beginners?

At BrokerChooser we test online brokers along more than 100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria for brokers for beginners:

5 most important criteria for the best brokers for beginners in 2020
1. Web trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
2. Fees The overall cost of a typical trade can be 10-15 times higher at one broker compared to another. Worth to check the fees.
3. Education You are not familiar with concepts like spread or leverage? Good educational tools help you understand the basics of trading.
4. Account opening Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require.
5. Deposit and withdrawal Withdrawing money from your account can be 5 times longer and more expensive at one broker compared to another.

Best brokers for beginners
Start your learning

When you are a beginner the best way to start your journey is to learn.

Find below some very useful learning materials to start with.

If you are considering starting. Check our learning page, a lot of great materials. You can learn about the pros and cons of investing your money on your own or the difference between trading vs investing. Also go to the learn section if you want to figure out whether you can open a foreign account.

For beginner buy and hold investors we recommend to read the how to buy shares. Have a six-step approach on how to buy shares online.

For beginners who want to learn to trade, we can provide even more. Robert, a professional trader, wrote on how to become a trader. Most of the beginner traders start with forex. If you don't anything about this topic, start with the forex 101. The CFDs also have become very popular. They are very risky. Start learning about CFDs with this CFD greenhorn and continue with the pros and cons of CFD trading.

Cryptos were among the hottest topics in 2017. Also super risky. Tibor dug in into it and found out the safest ways to invest in Bitcoin. A very interesting read, highly recommended if you are considering cryptos.

When more experienced and starting to explore futures options, you should definitely check out Gery's article on the topic.

Best brokers for beginners
Bottom line

You saw the details, now let's zoom out. Here are the best brokers for beginners in Bahrain in 2020:

Best brokers for beginners in Bahrain of 2020
eToro Swissquote Firstrade Questrade Internaxx
Award Best broker for cryptos Best broker for funds
Fees score 4.2 2.3 4.5 3.2 1.5
Account opening score 5.0 4.0 4.4 3.8 1.3
Deposit and withdrawal score 3.7 4.1 1.8 2.7 3.0
Markets and products score 3.8 4.9 2.8 3.6 3.1
Web platform score 4.4 4.2 4.3 3.3 2.8
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75% of retail CFD accounts lose money
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eToro is our winner, the best broker for beginners in Bahrain in 2020. Free stock and ETF trading . Seamless account opening. Social trading experience

All are considered a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. Let us know what you think in the comment section.

Still unsure? Use the broker finder and find the best broker for you or learn more about investing your money.

Tibor Bedő

Tibor Bedő

Co-founder, CEO

Author of this article

Tibor believes having a good stockbroker is everybody's privilege. He worked extensively in the financial industry, including at Morgan Stanley and at The Boston Consulting Group (BCG). He advised leading European banks on strategy, finance and risk management.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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