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To find the best online brokers for beginners in Egypt in 2021, we went ahead and did the research for you. We conducted interviews with newbies who had no trading experience. We tested 84 brokers of which 5 made it to the top. And now, without further ado...

The best online brokers for beginners in Egypt in 2021 are:

  1. Passfolio - the best broker for beginners in Egypt in 2021. Free US stock and ETF trading. Great mobile platform. Fast and fully digital account opening.
  2. Saxo Bank is the runner-up. Great trading platform. Outstanding research. Broad product portfolio.
  3. eToro placed third. Free stock and ETF trading . Seamless account opening. Social trading experience.
  4. Firstrade is number four. Free stock, ETF, fund and options trading. Solid research tools. Quality educational tools.
  5. Zacks Trade. Just made it to the list in fifth place. Low fees. Extensive stock and ETF selection. Great customer service.
Best brokers for beginners in Egypt in 2021
Broker Info Best in
#1 Passfolio Global zero-commission stockbroker
#2 Saxo Bank Danish investment bank Best forex broker
#3 eToro Global social trading broker Best broker for cryptos
#4 Firstrade US discount broker Best IRA broker
#5 Zacks Trade US discount broker Best broker for investing

What makes a great broker for beginners? Two things above all: an excellent mobile trading platform and low fees (learn more about brokerage fees here). The service should fit your needs and make everything easy. It should offer great educational tools, like a demo account, and provide webinars or courses. It must be easy to open an account and deposit funds.

All that is easy to list, but hard to figure out. That's why we are testing brokers along more than 300 criteria, using real accounts and real money. So we know what's up.

Not sure which broker is best for you? For a tailored recommendation, check out our broker finder tool. You can enter your country and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with our in-depth comparison tool.

And now, let's see the best online brokers for beginners in Egypt in 2021 one by one. Starting with the winner, Passfolio.

Passfolio Logo

#1 Best broker for beginners
Passfolio

4.3

Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy additional investor protection under the SIPC policy of Passfolio's clearing firm for up to an additional $30 million (with a cash sub-limit of $900,000 per account), subject to an aggregate limit of $150 million.

Although Passfolio is a global broker, there is a distinct focus on Brazilian customers, as evidenced by the fact that a good portion of the content it offers is available in Portuguese. 

Passfolio is considered safe because it is regulated by top-tier authorities and offers extra protection to investors. 

Recommended for beginners and long-term investors focusing on the us stock market

Read review

#1 Passfolio
Mobile trading platform
4.2

Passfolio's mobile platform boasts a clear-cut design and the search functions are also solid. What's missing is a wider selection of order types and price alerts.
Pros Cons
User-friendly Limited order types
Two-step (safer) login No price alerts
Good search function
Best brokers for beginners - Passfolio trading platform
Passfolio trading platforms
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Mobile platform score 4.2 stars 5.0 stars 4.9 stars 3.3 stars 3.8 stars
Web platform score 3.7 stars 5.0 stars 4.4 stars 4.3 stars 4.5 stars

Read review

#1 Passfolio
Fees
4.6

Passfolio's fees are highly attractive as trading in all assets except fro cryptos is free of charge, provided the value of the trade reaches $5. On the other hand, most withdrawal options are subject to a fee.
Pros Cons
Free stock and ETF trading for products priced above $5 None
No account opening and maintenance fees
Passfolio fees
Passfolio Saxo Bank eToro Firstrade Zacks Trade
US stock $0.0 $10.0 $0.0 $0.0 $1.0
UK stock - $10.4 $0.0 - $15.6

All commissions are for opening a position, holding for a week, and closing.

Read review

#1 Passfolio
Education
2.5

Passfolio's education services are very rudimentary, the offering is slim and not varied. There are some high-quality educational articles and a YouTube channel with market updates in Portugese.
Pros Cons
Quality educational texts No demo account
No trading platform tutorial videos
Best brokers for beginners - Passfolio education

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#1 Passfolio
Customer service
3.5

Passfolio clients can contact the broker via all three customary channels. The email service is unbelievably fast, the live chat is somewhat slower while the phone service is virtually non-existent.
Pros Cons
Relevant answers No 24/7 support
Fast email support Couldn't reach phone support on multiple occasions
Passfolio customer service channels
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Live chat Yes No Yes No Yes
Phone Yes Yes No Yes Yes
Email Yes Yes Yes Yes Yes

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#1 Passfolio
Account opening
5.0

When made on a mobile device, the account opening at Passfolio is super fast and fully digital. The validation time is a mere 15 minutes. On the other hand, experience shows that validation can run into issues on the computer.
Pros Cons
Fully digital Verification can be buggy on desktop
No minimum deposit
Verification in 15 minutes
Passfolio minimum deposit and time to open an account
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Minimum deposit $0 $10,000 $200 $0 $0
Time to open account 1 day >3 days 1 day 1-3 days >3 days

Read review

#1 Passfolio
Deposit and withdrawal
1.5

Passfolio's deposit functions are numerous and they all come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.
Pros Cons
No deposit fee Credit/Debit card not available
Only one account base currency
Not user-friendly
Passfolio withdrawal fee and options
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0.25 $0 $5 $0 $0

Read review

#1 Passfolio
Verdict

As an up-and-coming brokerage, the main attractive feature of Passfolio is its highly competitive fee structure. You can essentially trade free of charge with an amount exceeding $5, the deposit is free and the broker doesn't charge any account fees either. The mobile app is exceptionally user friendly and the account opening and validation was extremely fast.

On the negative side, the range of products is rather limited and customers have access solely to US markets (NYSE/NASDAQ). Depositing funds in your Passfolio account can prove to be a cumbersome process and all withdrawals carry a  price tag. Educational materials are pretty scarce, albeit some of high quality, and videos are only available in Portuguese.

Passfolio is ideal for non-U.S. investors looking for an easy-to-use platform to trade in US securities. 

 

Passfolio
Summary Passfolio is a US-based commission-free stockbroker focusing on Brazil. It is regulated by both FINRA and SEC, and is available globally for clients.
Fees score 4.6 stars
Recommended for Beginners and long-term investors focusing on the US stock market

Read review

Saxo Bank Logo

#2 Best broker for beginners
Saxo Bank

4.8

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

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#2 Saxo Bank
Mobile trading platform
5.0

Saxo Bank's user-friendly mobile platform has the same look and very similar functionalities as the web platform.
Pros Cons
User-friendly None
Two-step (safer) login
Good search function
Best brokers for beginners - Saxo Bank trading platform
Saxo Bank trading platforms
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Mobile platform score 4.2 stars 5.0 stars 4.9 stars 3.3 stars 3.8 stars
Web platform score 3.7 stars 5.0 stars 4.4 stars 4.3 stars 4.5 stars

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#2 Saxo Bank
Fees
3.1

Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
Pros Cons
Low forex fees Inactivity fee
Low fund fees High bond, options and futures fees
No withdrawal fee
Saxo Bank fees
Passfolio Saxo Bank eToro Firstrade Zacks Trade
US stock $0.0 $10.0 $0.0 $0.0 $1.0
UK stock - $10.4 $0.0 - $15.6

All commissions are for opening a position, holding for a week, and closing.

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#2 Saxo Bank
Education
4.5

If you want to improve your financial knowledge, Saxo Bank has a lot to offer. You can use a demo account, attend webinars or watch educational videos.
Pros Cons
Demo account No educational articles
Trading platform tutorial
Educational videos
Best brokers for beginners - Saxo Bank education

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#2 Saxo Bank
Customer service
4.0

Saxo's customer service is available in many languages, with phone and email support that work well despite small issues. Downsides include the lack of live chat and 24/7 availability.
Pros Cons
Phone support No live chat
Relevant answers No 24/7 support
Saxo Bank customer service channels
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Live chat Yes No Yes No Yes
Phone Yes Yes No Yes Yes
Email Yes Yes Yes Yes Yes

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#2 Saxo Bank
Account opening
2.5

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
Pros Cons
Fully digital Minimum deposit is high in certain countries
User-friendly Slow account verification
Available in almost every country
Saxo Bank minimum deposit and time to open an account
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Minimum deposit $0 $10,000 $200 $0 $0
Time to open account 1 day >3 days 1 day 1-3 days >3 days

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#2 Saxo Bank
Deposit and withdrawal
4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets not available for deposit or withdrawal
Free withdrawal
No deposit fee
Saxo Bank withdrawal fee and options
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0.25 $0 $5 $0 $0

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#2 Saxo Bank
Verdict

Saxo Bank is a great broker, providing a complex and good service.

It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA.
Fees score 3.1 stars
Recommended for Investors and traders looking for a great trading platform and solid research

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eToro Logo

#3 Best broker for beginners
eToro

4.7

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

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit 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 company.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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

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#3 eToro
Mobile trading platform
4.9

eToro's mobile platform is well-designed and intuitive. It is a pleasure to use.
Pros Cons
User-friendly No Touch/Face ID login
Two-step (safer) login
Good search function
Best brokers for beginners - eToro trading platform
eToro trading platforms
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Mobile platform score 4.2 stars 5.0 stars 4.9 stars 3.3 stars 3.8 stars
Web platform score 3.7 stars 5.0 stars 4.4 stars 4.3 stars 4.5 stars

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#3 eToro
Fees
4.4

eToro offers free stock and ETF trading. The forex and CFD fees are low as well. On the negative side, non-trading fees are high: there is a $5 withdrawal fee and an inactivity fee is also charged.
Pros Cons
Low trading fees High non-trading fees
Free stock and ETF trading
Low forex and CFD fees
eToro fees
Passfolio Saxo Bank eToro Firstrade Zacks Trade
US stock $0.0 $10.0 $0.0 $0.0 $1.0
UK stock - $10.4 $0.0 - $15.6

All commissions are for opening a position, holding for a week, and closing.

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Your capital is at risk

#3 eToro
Education
2.5

eToro's education tools are limited, with only some medium-quality videos about investing available.
Pros Cons
Demo account Basic educational videos
Intro guide to the platform
Best brokers for beginners - eToro education

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#3 eToro
Customer service
3.3

eToro customer service is average: you can reach it on several channels and get quick and relevant answers. On the flip side, you can't reach them on weekends and it's difficult to find the live chat service on the webpage and they are often offline.
Pros Cons
Live chat No phone support
Fast response time No 24/7 support
Relevant answers Live chat is offline quite often
eToro customer service channels
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Live chat Yes No Yes No Yes
Phone Yes Yes No Yes Yes
Email Yes Yes Yes Yes Yes

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#3 eToro
Account opening
5.0

Account opening at eToro is seamless and very fast.
Pros Cons
Fast None
Fully digital
Low minimum deposit
eToro minimum deposit and time to open an account
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Minimum deposit $0 $10,000 $200 $0 $0
Time to open account 1 day >3 days 1 day 1-3 days >3 days

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#3 eToro
Deposit and withdrawal
3.5

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.
Pros Cons
Credit/Debit card available Only one account base currency
No deposit fee $5 withdrawal fee
User-friendly Conversion fee for non-USD deposits
eToro withdrawal fee and options
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0.25 $0 $5 $0 $0

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#3 eToro
Verdict

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

It has some drawbacks, though. Non-trading 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.

So is eToro good? 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.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

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

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Your capital is at risk

Firstrade Logo

#4 Best broker for beginners
Firstrade

4.4

Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and the 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 overseen by top-tier regulators.

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

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#4 Firstrade
Mobile trading platform
3.3

Firstrade's mobile platform is user-friendly with a great search function. On the other hand, two-step login and price alerts are not provided and you can't trade mutual funds or bonds.
Pros Cons
User-friendly No two-step (safer) login
Good search function No price alerts
Good variety of order types Mutual funds and bonds are not covered
Best brokers for beginners - Firstrade trading platform
Firstrade trading platforms
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Mobile platform score 4.2 stars 5.0 stars 4.9 stars 3.3 stars 3.8 stars
Web platform score 3.7 stars 5.0 stars 4.4 stars 4.3 stars 4.5 stars

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#4 Firstrade
Fees
4.7

Firstrade has low fees. It offers free stock, ETF, funds, and options trading with low non-trading fees. However, margin rates are high.
Pros Cons
Low trading fees High margin rates
Low non-trading fees
Free stock, ETF, fund and options trading
Firstrade fees
Passfolio Saxo Bank eToro Firstrade Zacks Trade
US stock $0.0 $10.0 $0.0 $0.0 $1.0
UK stock - $10.4 $0.0 - $15.6

All commissions are for opening a position, holding for a week, and closing.

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#4 Firstrade
Education
3.5

Are you a beginner or do you believe in life long learning? Then Firstrade is clearly a good match for you. They offer great educational articles, a useful glossary, a bunch of platform videos and webinars. However, there is no demo account.
Pros Cons
Trading platform tutorial No demo account
Educational videos
Best brokers for beginners - Firstrade education

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#4 Firstrade
Customer service
0.3

Firstrade's phone and chat support are slow and do not provide relevant information most of the time. On the other hand, we received mostly relevant answers in email.
Pros Cons
Email support No live chat
No 24/7 support
Slow support
Irrelevant answers
Phone support didn't connect anyone
Firstrade customer service channels
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Live chat Yes No Yes No Yes
Phone Yes Yes No Yes Yes
Email Yes Yes Yes Yes Yes

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#4 Firstrade
Account opening
4.4

Account opening is fully digital and user-friendly, and is open to international customers. On the flip side, the process was slow for us, taking almost 3 business days.
Pros Cons
Fully digital Slow account verification
No minimum deposit
Low minimum deposit
Firstrade minimum deposit and time to open an account
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Minimum deposit $0 $10,000 $200 $0 $0
Time to open account 1 day >3 days 1 day 1-3 days >3 days

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#4 Firstrade
Deposit and withdrawal
2.0

We liked 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 transfers and a high fee is charged for wire transfer withdrawals.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly Only one account base currency
High outgoing wire transfer fee
Firstrade withdrawal fee and options
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0.25 $0 $5 $0 $0

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#4 Firstrade
Verdict

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

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

There are some drawbacks, though. Firstrade doesn't accept credit/debit cards and electronic wallets for money tranfer. The product portfolio covers only the US market. Customer service is only available 24/5 and you can't contact them via live chat. 

As it has 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 4.7 stars
Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

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Zacks Trade Logo

#5 Best broker for beginners
Zacks Trade

4.6

Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.

LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.

If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:

  • Zacks Trade has its own, different fee structure, product selection, educational tools and customer support.
  • The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.

Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators. 

Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees

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#5 Zacks Trade
Mobile trading platform
3.8

The Zacks Trade mobile trading platform, called Handy Trader, has a lot of functions and a useful chatbot, but its user interface could be better.
Pros Cons
Two-step (safer) login User interface is a bit complex
Good search function
Good variety of order types
Best brokers for beginners - Zacks Trade trading platform
Zacks Trade trading platforms
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Mobile platform score 4.2 stars 5.0 stars 4.9 stars 3.3 stars 3.8 stars
Web platform score 3.7 stars 5.0 stars 4.4 stars 4.3 stars 4.5 stars

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#5 Zacks Trade
Fees
4.3

Zacks Trade has low trading and non-trading fees. Its stock, ETF and bond trading fees are especially low, while mutual fund fees are quite high.
Pros Cons
Low stock and ETF fees / Free stock trading High fund fees
No withdrawal fee
No inactivity fee
Zacks Trade fees
Passfolio Saxo Bank eToro Firstrade Zacks Trade
US stock $0.0 $10.0 $0.0 $0.0 $1.0
UK stock - $10.4 $0.0 - $15.6

All commissions are for opening a position, holding for a week, and closing.

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#5 Zacks Trade
Education
2.5

Zacks Trade offers a demo account and videos on how to use its system. However, we missed some educational tools, such as general educational videos or webinars.
Pros Cons
Demo account No educational videos
Trading platform tutorial No webinars
Best brokers for beginners - Zacks Trade education

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#5 Zacks Trade
Customer service
4.3

Zacks Trade customer service is quick and useful although we missed the 24-hour support that would help out international customers.
Pros Cons
Phone support No 24/7 support
Live chat
Fast response time
Zacks Trade customer service channels
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Live chat Yes No Yes No Yes
Phone Yes Yes No Yes Yes
Email Yes Yes Yes Yes Yes

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#5 Zacks Trade
Account opening
2.8

Zacks Trade has a fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
Pros Cons
Fully digital Slow
No minimum deposit Not user-friendly
Zacks Trade minimum deposit and time to open an account
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Minimum deposit $0 $10,000 $200 $0 $0
Time to open account 1 day >3 days 1 day 1-3 days >3 days

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#5 Zacks Trade
Deposit and withdrawal
3.5

Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies
Zacks Trade withdrawal fee and options
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0.25 $0 $5 $0 $0

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#5 Zacks Trade
Verdict

Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA.

On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.

There are some drawbacks though, as its desktop trading platform and research tools are quite complex. The account opening is complicated and slow. Lastly, we missed some useful educational tools.

As Zacks Trade provides a demo account and doesn't require any minimum deposit, feel free to try it.

Zacks Trade
Summary Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash).
Fees score 4.3 stars
Recommended for Traders and investors looking for comprehensive research tools, a wide product selection and low fees

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Best brokers for beginners
What makes a great broker for beginners

Now you know which are the best brokers for beginners. Curious how we put together this list? Let's go through two points in some more detail: whether these brokers are safe, and how we compiled 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 authority. Some of them are also listed on an exchange, and some have a banking background.

However, brokerage companies can also go bust. 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, your money is safe.

If a worst-case scenario happens 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 300 criteria, with a real account and real money. In order not to overwhelm you, here are just the five most important criteria for brokers for beginners:

5 most important criteria for the best brokers for beginners in 2021
1. Mobile trading platform A user-friendly and well-equipped trading platform can significantly increase your comfort with trading.
2. Fees The overall cost of a typical trade can be 10-15 times higher at one broker than at another. So it is pays to check the fees.
3. Education Are you unfamiliar with concepts like spread or leverage? Good educational tools can help you to understand the basics of trading.
4. Account opening Some online brokers require a minimum first-time deposit, others don't. Check out what conditions the best online brokers have.
5. Deposit and withdrawal Withdrawing money from your account can be 5 times longer and more expensive from one broker to another.

Best brokers for beginners
Start your learning

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

Below, you can find some very useful learning materials to start with.

If you are considering starting your investment journey by learning, check out our how-to-invest page, where you can find a lot of great materials. Learn about the pros and cons of investing your money on your own or the difference between trading and investing. You can also take a look at this article on account opening if you want to learn how you can open a trading account.

For beginner buy-and-hold investors we recommend reading our how to buy shares and how to buy ETFs articles.

For beginners who want to learn to trade, we can provide even more. A professional trader wrote about how to become a trader. Most beginner traders start with forex trading. If you don't know anything about this topic, start with our forex primer article. CFDs have also become very popular, but they are very risky. Start learning about this product type with this introduction to CFD trading and continue with the pros and cons of CFD trading.

Cryptos are a hot topic, but also super risky. We dug into it and found the safest ways to invest in Bitcoin. Highly recommended if you are considering cryptos.

When you become more experienced and start exploring futures options, you should definitely check out our article on the topic.

Best brokers for beginners
Bottom line

You saw the details, now let's zoom out. Here are once again the best brokers for beginners in Egypt in 2021:

Best brokers for beginners in Egypt in 2021
Passfolio Saxo Bank eToro Firstrade Zacks Trade
Award Best forex broker Best broker for cryptos Best IRA broker Best broker for investing
Mobile platform score 4.2 stars 5.0 stars 4.9 stars 3.3 stars 3.8 stars
Fees score 4.6 stars 3.1 stars 4.4 stars 4.7 stars 4.3 stars
Education score 2.5 stars 4.5 stars 2.5 stars 3.5 stars 2.5 stars
Customer service score 3.5 stars 4.0 stars 3.3 stars 0.3 stars 4.3 stars
Account opening score 5.0 stars 2.5 stars 5.0 stars 4.4 stars 2.8 stars
Deposit and withdrawal score 1.5 stars 4.8 stars 3.5 stars 2.0 stars 3.5 stars
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Passfolio is our winner, the best broker for beginners in Egypt in 2021. Free US stock and ETF trading. Great mobile platform. Fast and fully digital account opening.

All the other brokers in the top five are considered great choices as well. Pick any of them and take the next step in your investment journey. Let us know what you think in the comment section.

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

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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