Choose the best discount broker in Argentina, we did the research for you. Fees, fees, and fees. We do not like them and surely you do not either. Checking carefully, we uncovered all the hidden fees. After testing 57 brokers, 5 made it to the top. And now, without further ado...
The top 5 picks for the best discount brokers for Argentine citizens in 2019:
- Interactive Brokers is the winner. Very low fees, especially in the USA.
- eToro, place two. Free stock and ETF trading in Europe, but high non-trading fees.
- Tastyworks. Low US options and stock fees. Third place.
- Tradestation in the fourth place. Low fees, especially for high-volume traders..
- XTB made it to the best discount broker list. Low non-trading fees and financing rates, high trading fees.
| Broker | Info | Fees | |
|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | |
| #2 | eToro | Global social trading broker | |
| #3 | Tastyworks | US options and stockbroker | |
| #4 | Tradestation | US stockbroker | |
| #5 | XTB | Global CFD and FX broker |
All 5 brokers are considered safe. They are regulated by top-tier financial regulators.
What makes a good discount broker? Certainly, damn low fees. This holds for commissions, financing rates, and a lot of people forget, non-trading fees like inactivity or withdrawal fees. Besides low fees, the ease of opening an account and depositing are also important. They should offer access to a lot of markets and need to have a great platform.
Easy to list, but hard to figure it out. We are testing brokers along ~100 criteria with real accounts and real money. We know what's up.
Boring, but important stuff: some brokers offer CFD products. They are complex and very risky, thus not suitable for everyone. You can easily lose all of your invested money. If you don't have a clue what a CFD is, start with these CFD trading tips.
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 discount brokers for Argentine citizens in 2019 one by one. Starting with the winner, Interactive Brokers.
#1 Best discount broker
Interactive Brokers
4.8
5 stars
Best online broker
Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.
Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Recommended for traders who prefer low fees and a professional trading environment
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Funding and withdrawal only through bank transfer
- Complicated account opening process
- Not user-friendly and complicated desktop trading platform
#1 Interactive Brokers
Fees
4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Low trading fees
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $0.0 | $5.2 | $2.2 | $18.1 |
| Vodafone benchmark fee | $17.9 | $0.0 | - | - | $24.4 |
| EURUSD benchmark fee | $23.0 | $19.1 | - | - | $17.1 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| USA | $0.005 per share, min $1, max 0.5% of trade value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | $5for opening and the closing is free | $0.01 per share; min $1 | 0.08% of trade value; minimum $8 |
| Germany | 0.1%, min €4, max €99 | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum €8 |
| UK | £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum £8 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | Yes | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
#1 Interactive Brokers
Account opening
3 stars
The account opening process is fully digital, but slow and complicated.
- Fully digital
- No minimum deposit for most accounts
- Slow
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $200 | $0 | $500 | $250 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
2 stars
Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal each month
- Credit/Debit card not available
- Slow withdrawal - over 3 days
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
#1 Interactive Brokers
Markets and products
5 stars
Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | Yes |
| Fund | Yes | No | No | Yes | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | No | Yes | Yes | No |
| Futures | Yes | No | Yes | Yes | No |
| CFD | Yes | Yes | No | No | Yes |
| Crypto | Yes | Yes | No | No | Yes |
#1 Interactive Brokers
Web trading platform
4 stars
The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
- User-friendly
- Clear fee report
- Two-step (safer) login
- Limited customizability (for charts, workspace)
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#1 Interactive Brokers
Verdict
IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.
It has low trading fees, a wide range of product portfolio, and diverse research tools.
On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.
Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC. |
| Fees score | |
| Recommended for | Traders who prefer low fees and a professional trading environment |
#2 Best discount broker
eToro
4.5
5 stars
Best social trading
eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.
eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.
eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 and those interested in social trading (copying other traders’ trades)
- Free stock and ETF trading in the EU
- Seamless account opening
- Social trading experience
- Poor customer service
- Trading platform outages
- Limited educational tools
Visit broker
66% of retail CFD accounts lose money
#2 eToro
Fees
4 stars
eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.
- Free stock and ETF trading in the EU
- Low fees for non-EU clients
- Transparent fee structure
- High financing rate
- $25 withdrawal fee
- $10 monthly inactivity fee
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $0.0 | $5.2 | $2.2 | $18.1 |
| Vodafone benchmark fee | $17.9 | $0.0 | - | - | $24.4 |
| EURUSD benchmark fee | $23.0 | $19.1 | - | - | $17.1 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| USA | $0.005 per share, min $1, max 0.5% of trade value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | $5for opening and the closing is free | $0.01 per share; min $1 | 0.08% of trade value; minimum $8 |
| Germany | 0.1%, min €4, max €99 | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum €8 |
| UK | £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum £8 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | Yes | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
More
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66% of retail CFD accounts lose money
#2 eToro
Account opening
5 stars
Account opening is enjoyable and super fast.
- Fast
- No minimum deposit
- User-friendly
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $200 | $0 | $500 | $250 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1 day |
More
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66% of retail CFD accounts lose money
#2 eToro
Deposit and withdrawal
4 stars
It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.
- Credit/Debit card available
- No deposit fee
- User-friendly
- High withdrawal fee
- Only one account base currency
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
More
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66% of retail CFD accounts lose money
#2 eToro
Markets and products
3 stars
At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading or CopyPortfolio.
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | Yes |
| Fund | Yes | No | No | Yes | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | No | Yes | Yes | No |
| Futures | Yes | No | Yes | Yes | No |
| CFD | Yes | Yes | No | No | Yes |
| Crypto | Yes | Yes | No | No | Yes |
More
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66% of retail CFD accounts lose money
#2 eToro
Web trading platform
4 stars
eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.
- User-friendly
- Modern design
- Social trading
- No clear fee report available
- Cannot be customized
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
More
Visit broker
66% of retail CFD accounts lose money
#2 eToro
Verdict
When looking back, eToro was a bit unreliable in 2017 because of the huge demand for cryptos. It had problems in customer support and the platform sometimes froze. In our latest test eToro improved.
On the plus side, eToro has zero-commission stock trading in Europe. The account opening is really fast and seamless. It has also a lot of innovative features, like social trading.
It has some drawbacks though. Customer service was a letdown, the platform did not work on multiple occasions. Also, it has a tight product range which includes stocks and CFDs. Non-trading fees are high.
To sum up, we recommend eToro for social trading and cheap stock trading.
Risk disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
Past performance is not an indication of future results.
| eToro | |
|---|---|
| Summary | eToro is a global social trading broker. It is regulated by top-tier regulators, like the UK FCA. |
| Fees score | |
| Recommended for | Traders and those interested in social trading (copying other traders’ trades) |
More
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66% of retail CFD accounts lose money
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#3 Best discount broker
Tastyworks
4.5
5 stars
Best for options
tastyworks is a young, upcoming US broker focusing on options trading.
The people behind tastyworks are proven experts who built thinkorswim, now operated by TD Ameritrade. tastyworks is privately owned, established in 2017 and headquartered in Chicago.
tastyworks is considered safe as it is regulated by a top-tier regulator, the US FINRA.
Recommended for price sensitive equity and option traders focusing on the us
- Low options trading fees
- Great education materials
- Very good customer service
- Only US options, futures, and stocks
- Can be intimidating for beginners
- Trading platforms have some bugs
#3 Tastyworks
Fees
4 stars
tastyworks has low trading fees and average non-trading fees. Its options fees are very low as well.
- Low trading fees
- No inactivity fee
- Transparent fee structure
- Withdrawal fee
- High financing rate
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $0.0 | $5.2 | $2.2 | $18.1 |
| Vodafone benchmark fee | $17.9 | $0.0 | - | - | $24.4 |
| EURUSD benchmark fee | $23.0 | $19.1 | - | - | $17.1 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| USA | $0.005 per share, min $1, max 0.5% of trade value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | $5for opening and the closing is free | $0.01 per share; min $1 | 0.08% of trade value; minimum $8 |
| Germany | 0.1%, min €4, max €99 | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum €8 |
| UK | £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum £8 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | Yes | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
#3 Tastyworks
Account opening
4 stars
tastyworks account opening is user-friendly and fully digital. You can open your account without a required minimum. On the flip side, it can be more days until your account is approved.
- Fully digital
- No minimum deposit
- User-friendly
- Can take 3 business days
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $200 | $0 | $500 | $250 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1 day |
#3 Tastyworks
Deposit and withdrawal
2 stars
tastyworks deposit and withdrawal can be improved. The account can be opened only in USD. Also, non-US citizens can only use bank transfer, and there is high withdrawal fee.
- No deposit fee
- User-friendly
- Credit/Debit card not available
- High withdrawal fee
- Only one account base currency
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
#3 Tastyworks
Markets and products
1 stars
At tastyworks you can trade with US stocks, ETFs, options, and some futures.
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | Yes |
| Fund | Yes | No | No | Yes | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | No | Yes | Yes | No |
| Futures | Yes | No | Yes | Yes | No |
| CFD | Yes | Yes | No | No | Yes |
| Crypto | Yes | Yes | No | No | Yes |
#3 Tastyworks
Web trading platform
4 stars
Tastyworks web trading platform feels like entering the cockpit of a plane. It looks organized, but also complicated at first sight.
- Clear fee report
- Good search function
- Great options trading panel with embedded strategies
- Limited customizability (for charts, workspace)
- Can be intimidating for beginners
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#3 Tastyworks
Verdict
tastyworks is an excellent broker for options trading. It could be a bit complicated if you want to trade stocks only.
tastyworks is a US broker, hence investor protection scheme is excellent. Options fees are very low, among the bests. Its trading platform is aimed at experienced options traders, it can be intimidating for starters.
As there is no minimum deposit, no inactivity or monthly fee, and the account open is seamless, feel free to try it.
| Tastyworks | |
|---|---|
| Summary | Tastyworks is a young US options and stockbroker. It is regulated by FINRA, the top-tier US regulator. |
| Fees score | |
| Recommended for | Price sensitive equity and option traders focusing on the US |
#4 Best discount broker
Tradestation
4.4
4 stars
TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.
TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
Recommended for traders wanting great research tools and preferring the us markets
- Great mobile trading platform
- Wide range of reserach tools
- High-quality educational tools
- Not user-friendly deposit and withdrawal
- No forex
- Bad customer service
#4 Tradestation
Fees
4 stars
TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.
- Low trading fees
- More fee structures you can choose from
- High non-trading fees
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $0.0 | $5.2 | $2.2 | $18.1 |
| Vodafone benchmark fee | $17.9 | $0.0 | - | - | $24.4 |
| EURUSD benchmark fee | $23.0 | $19.1 | - | - | $17.1 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| USA | $0.005 per share, min $1, max 0.5% of trade value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | $5for opening and the closing is free | $0.01 per share; min $1 | 0.08% of trade value; minimum $8 |
| Germany | 0.1%, min €4, max €99 | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum €8 |
| UK | £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum £8 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | Yes | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
#4 Tradestation
Account opening
4 stars
TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.
- Fully digital
- User-friendly
- Slow
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $200 | $0 | $500 | $250 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1 day |
#4 Tradestation
Deposit and withdrawal
2 stars
TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.
- No deposit fee
- Credit/Debit card not available
- Not user-friendly
- High withdrawal fee (for non-US clients $35 /tansaction)
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
#4 Tradestation
Markets and products
2 stars
TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | Yes |
| Fund | Yes | No | No | Yes | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | No | Yes | Yes | No |
| Futures | Yes | No | Yes | Yes | No |
| CFD | Yes | Yes | No | No | Yes |
| Crypto | Yes | Yes | No | No | Yes |
#4 Tradestation
Web trading platform
4 stars
TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.
- User-friendly
- Good customizability (for charts, workspace)
- Good variety of order types
- No clear fee report available
- No price alerts
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#4 Tradestation
Verdict
TradeStation is a great US broker.
The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality.
On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.
Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.
| Tradestation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, the top-tier US regulator. |
| Fees score | |
| Recommended for | Traders wanting great research tools and preferring the US markets |
#5 Best discount broker
XTB
4.5
5 stars
Best CFD broker
XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via the UK or a Polish entity. We tested the UK entity but will provide info on all entities.
XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including the UK FCA.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 forex and cfd traders looking for great funding and withdrawal processes and research tools
- Fast deposit and withdrawal
- Fast and user-friendly account opening
- Good research tools
- Limited product portfolio, mostly CFD and FX
- Sales team can be pushy
- No 24/7 customer support
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76% of retail CFD accounts lose money
#5 XTB
Fees
4 stars
XTB has average trading fees and low non-trading fees.
- Low non-trading fees
- No withdrawal fee
- No inactivity fee
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $0.0 | $5.2 | $2.2 | $18.1 |
| Vodafone benchmark fee | $17.9 | $0.0 | - | - | $24.4 |
| EURUSD benchmark fee | $23.0 | $19.1 | - | - | $17.1 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| USA | $0.005 per share, min $1, max 0.5% of trade value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | $5for opening and the closing is free | $0.01 per share; min $1 | 0.08% of trade value; minimum $8 |
| Germany | 0.1%, min €4, max €99 | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum €8 |
| UK | £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value | Free stock and ETF trading in Europe, 0.09% spread cost per side for non-EU clients | Not available | Not available | 0.08% of trade value; minimum £8 |
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | Yes | No | Yes | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
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76% of retail CFD accounts lose money
#5 XTB
Account opening
5 stars
XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
- Fast
- Fully digital
- User-friendly
- Sales team pushy
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $200 | $0 | $500 | $250 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1 day |
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76% of retail CFD accounts lose money
#5 XTB
Deposit and withdrawal
5 stars
XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
- Credit/Debit card available
- Quick deposit and withdrawal - within 3 days
- User-friendly
- High fees for electronic wallet deposits
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $25 | $45 | $35 | $0 |
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76% of retail CFD accounts lose money
#5 XTB
Markets and products
2 stars
UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | Yes |
| Fund | Yes | No | No | Yes | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | No | Yes | Yes | No |
| Futures | Yes | No | Yes | Yes | No |
| CFD | Yes | Yes | No | No | Yes |
| Crypto | Yes | Yes | No | No | Yes |
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76% of retail CFD accounts lose money
#5 XTB
Web trading platform
4 stars
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
- User-friendly
- Good search function
- Good customizability (for charts, workspace)
- No two-step (safer) login
- Limited order types
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
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76% of retail CFD accounts lose money
#5 XTB
Verdict
XTB is a good broker. It is regulated by more than 10 authorities globally, including the UK FCA, and it is listed on the Warsaw Stock Exchange.
On the plus side, the deposit and withdrawal process is fast. We liked the seamless and hassle-free account opening. The research tools are easy-to-use.
XTB has some drawbacks though. Its product range is mainly limited to FX and CFDs, but there are stocks trading is also available in some countries. When opening the account the sales team can be pushy. We also missed the 24/7 customer support.
We recommend XTB for clients who prefer forex and CFD trading and are looking for fast account opening, cheap money withdrawal and great research tools. Feel free to test it via the demo account.
| XTB | |
|---|---|
| Summary | XTB is a global CFD broker, listed on the Warsaw Stock Exchange, regulated by regulators, like FCA and KNF, the polish regulator. |
| Fees score | |
| Recommended for | Forex and CFD traders looking for great funding and withdrawal processes and research tools |
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76% of retail CFD accounts lose money
Best discount brokers
What makes a good discount broker?
Now you know the top three discount brokers. You are probably curious about how we came up with this list. Let's go over three points:
- What is a discount broker?
- Why do we think these brokers are safe?
- What are the most important factors when selecting the best discount brokers?
What is a discount broker?
A discount broker is a brokerage company that executes your buy and sell orders at a low trading fee. Discount brokers' fees can be lower since they don't provide extra services like research, personal investment advice, tax planning or robo-advisory as the full-service brokers.
Discount brokers were appearing with the internet and the online broker services. Brokerage companies started to provide their service online and fully automatized. This was the rise of online trading platforms. An online trading platform is basically a website, where you can insert your own orders and you get only a customer support, no investment advice.
The distance between the full-service brokers and discount brokers has been narrowing in the last years. Discount brokers started to provide extra services as well, like research, while full-service brokers started to lower their fees. The full brokerage and wealth management industry is under fee pressure thanks to the more and more cost-effective online broker companies.
Nowadays, the new discount brokers are the free-trade brokers. These provide commission-free trading and charge an extra fee for ancillary services, like after hour trading. The biggest free-trade online broker in the US is Robinhood. In the UK, Freetrade launched its trading app in 2018. Stay tuned, we will come out with the Freetrade broker reviews soon.
Are these brokers safe?
Yes, all three are considered safe. You can be sure none of them is a scam. They are regulated by top-tier regulators. Interactive Brokers is also listed on an exchange.
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 discount brokers?
At Brokerchooser we test online brokers along ~100 criteria, with a real account and real money. Not to overwhelm you we list the most important criteria.
The primary selection criteria were fees. We concentrated on stock trading fees and also checked the financing rate, in case you want to trade with a leverage. No inactivity fee was a plus.
The 5 most important criteria for discount brokers are:
| 1. Fees: | Discount brokers' main advantage is the low cost. However, even discount brokers have significant fee differences. Worth to check the fees. |
| 2. Deposit and withdrawal: | Transferring money to your account can be 5 times longer and more expensive at one discount broker compared to another. |
| 3. Account opening: | Some online brokers require at least $10,000 to invest, others don't set a minimal first-time deposit. Check out what the best discount brokers require. |
| 4. Products and markets: | You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account. |
| 5. Trading platform: | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
Best discount brokers
Bottom line
You saw the details, now let's zoom out. Here are the best discount brokers of 2019 in Argentina:
| Interactive Brokers | eToro | Tastyworks | Tradestation | XTB | |
|---|---|---|---|---|---|
| Award | Best online broker | Best social trading | Best for options | Best CFD broker | |
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Markets and products score | |||||
| Web platform score | |||||
| Visit broker |
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66% of retail CFD accounts lose money |
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76% of retail CFD accounts lose money |
Interactive Brokers is our winner, the best discount broker for Argentine citizens in 2019. Very low fees, especially in the USA.
All three are considered safe, and a great choice. Pick the winner, or any runner-up and save a lot of money on fees. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best broker for you.
