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Top online brokers for beginners in Egypt in 2023
- EasyEquities - the best broker for beginners in Egypt in 2023. Low trading fees and non-trading fees. Excellent educational materials. Easy and fully digital account opening.
- TradeZero - Real stocks and ETFs are commission-free. Quick and easy account opening. Excellent education and customer support.
- Swissquote - Access to many markets and products. No inactivity fee. Rock-solid background.
How did BrokerChooser select the best online brokers for beginners in Egypt?
- We conducted interviews with newcomers who had little to zero trading experience trading.
- We checked whether brokers offers educational tools, like a demo account or learning material.
- We opened an account and tested the trading platform with our own money.
- We looked at how easy and user-friendly it is to open an account for beginners.
- We checked how easy it is to understand fees for new users.
- We also checked and compared 102 brokers with a special focus on fees and their trading platform.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Best brokers for beginners
Overview of the best brokers for beginners
While many online brokers suitable for beginners offer an excellent service, the ones in our toplist go the extra mile.
| Broker | Minimum deposit | Account activated in | Credit/debit card deposit | Demo account available |
|---|---|---|---|---|
| EasyEquities | $0 | >3 days | Yes | Yes |
| TradeZero | $250 | 1 day | No | Yes |
| Swissquote | $0 | 1 day | Yes | Yes |
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Fees at the best brokers for beginners
| EasyEquities | TradeZero | Swissquote | |
|---|---|---|---|
| US stock | $5.0 | $0.0 | $25.0 |
| UK stock | - | $0.0 | $28.3 |
| FX commission per lot | Not available | Not available | No commission is charged |
All commissions are for opening a position, holding for a week, and closing.
Non-trading fees at the best brokers for beginners
Non-trading fees are charges that are not directly related to a trade and typically include the account maintenance fee, deposit/withdrawal fees and the inactivity fee.
| EasyEquities | TradeZero | Swissquote | |
|---|---|---|---|
| Account fee | No | No | No |
| Inactivity fee | No | No | No |
| Withdrawal fee | $0 | $50 | $10 |
Best brokers for beginners
Get the best brokers tailored to your needs
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Your broker toplist will be selected based on your answers.
And now, let's see in detail the best online brokers for beginners in 2023 one by one.
#1 Best broker for beginners
EasyEquities
Recommended for long-term investors focusing on stocks and etfs
| EasyEquities snapshot | |
|---|---|
| Minimum deposit | $0 |
| US stock fee | $5.0 |
| Demo account | Yes |
| Mobile platform score | 4.3 stars |
| Time to open account | >3 days |
| Inactivity fee | No |
| Read review | For a detailed analysis of EasyEquities services, check out our review for 2023 |
#2 Best broker for beginners
TradeZero
Recommended for investors and traders interested in commission-free trading and a focus on us stocks and options.
| TradeZero snapshot | |
|---|---|
| Minimum deposit | $250 |
| US stock fee | $0.0 |
| Demo account | Yes |
| Mobile platform score | 4.0 stars |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of TradeZero services, check out our review for 2023 |
#3 Best broker for beginners
Swissquote
Recommended for affluent investors who value safety and are ok with higher fees
| Swissquote snapshot | |
|---|---|
| Minimum deposit | $0 |
| US stock fee | $25.0 |
| Demo account | Yes |
| Mobile platform score | 4.7 stars |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of Swissquote services, check out our review for 2023 |
Best brokers for beginners
What makes a great broker for beginners
Now you know which are the best brokers for beginners. Curious how we assembled this list? Let's go through two points in a bit more detail: whether these brokers are reliable, and what criteria we looked at as we compiled the list.
Are these brokers reliable?
You can be sure none of the brokers in our top list is a scam. They are all regulated by at least one top-tier authority. Some of them are also listed on a stock exchange, and some have a banking background, which all add an extra layer of security.
How did BrokerChooser pick the best brokers for beginners?
Here at BrokerChooser, we test online brokers along nearly 500 criteria, using real accounts and real money. We don't want to overwhelm you, so we'll list only the three most important criteria we used to identify the best brokers for beginners:
| 1. Fees | The overall cost of a typical trade can be 10-15 times higher at one broker than at another. So it pays to take a close look at fees. |
| 2. Mobile trading platform | A user-friendly and well-equipped trading platform can significantly increase your comfort with trading. |
| 3. Education | Are you unfamiliar with concepts like spread or leverage? Good educational tools can help you understand the basics of trading. |
Best brokers for beginners
Glossary
Here is a glossary to help you with some terms in our review:
Inactivity fee: a fee that is charged when a customer has not done any buying or selling on their brokerage account for a specific amount of time determined by the brokerage.
Withdrawal fee: an amount you need to pay when you withdraw money from your trading account to your bank account.
Deposit fee: this is charged when you send money to your trading account at an online broker. The fee may differ depending on the method of transfer (i.e. bank card, bank transfer, e-wallets, etc.).
Regulators: these are official bodies established by governments or other organizations to oversee the functioning and fairness of financial markets, including markets, exchanges and firms. They also oversee that investors are not fooled by scams, and in case of wrongdoing, they try to provide some level of financial and legal backing.
Investor protection: this means that up to a certain limit, you get your money back if the broker goes into bankruptcy or commits fraud.
Non-trading fees: charges not directly related to trading, such as deposit/withdrawal fees or inactivity fees.
Trading fees: these are charged when you trade; for instance, in the form of a commission, spreads, financing rates, margin rates or a conversion fee.
Still sounds confusing? You can dive into our broader glossary explaining all the exotic terms of the financial world. We also have a forex trading glossary dedicated to terms specifically related to forex trading.
Best brokers for beginners
Further reading for beginners
Best brokers for beginners
FAQ
Which broker should I use as a beginner?
Low fees and an excellent mobile platform make a broker great for beginners. Beginners can also benefit greatly if a broker has excellent educational material, and tools, such as a demo account. The best way to start your journey in the world of investing is by learning. We provide a great starting point on our education page, where you can find a lot of useful learning materials. Here we give you some tips on how to start investing. To find the best online broker for your level of expertise and risk-tolerance, use our find my broker tool.
Where should a beginner invest in stocks?
Before you make stock investments, you should draw up a plan, which involves several basic questions you ought to think about, such as what is your objective, how much time do you want to spend investing and what level of risk you want to take. For beginners, one of the best ways to to starting investing in stocks is choosing an index fund or stock mutual funds, which are an easy and low-cost way to tip your toe into the stock market. We put together a guide on how to start investing in stocks, and how to buy shares online. We explicitly guide you through how to invest in stocks. We also give you tips on how much you should invest when you are starting out. You can also browse through our top recommendations for best trading platforms for stocks.
Is trading gambling?
Trading is not gambling, although some poeple might treat it like that, but they will learn quickly that gamblers lose their money. The goal of a trader is to make predictions that will be as accurate as possible to make money, while gamblers can't predict anything, they bet. People who trade for the thrill of it, or because they want to prove something, or can’t accept losing on the market from time to time, and don’t have a plan or consistency, are trading in a gambling style. New online trading apps have recently come under the spotlight for bringing a gambling aspect into trading. The gamification of trading, with easy-to-use online platforms, little education for retail traders and the social pressure of ‘FOMO’ also contribute to a gambling attitude on the market. Serious traders should consider their objectives, their attitudes to risk, and carefully devise an investment strategy when entering a market.
Is trading hard to learn?
Trading is not diffficult to learn if you invest enough time and energy into it. But that is a big if. Plenty of people trade, but the more time you spend studying trading, the more you practice, - as with everything else -, the better results you can expect. Knowing yourself, your attitude to risk-taking, and being patient and disciplined are also crucial factors if you want to be successful. Keep a cool head, don’t look for easy money, commit to studying trading and always have a trading plan. Our aim is to make personal investing as clear and accessible for you, as possible. Our educational page is a good starting point. You can also learn from our expert traders about the difference between investing and trading, and learn here about how to become a trader. You can also learn about different investment strategies from us.
