Best discount brokers in the Dominican Republic in 2024

Written by
Adam N.
Fact checked by
Updated
3w ago
Dive into our toplist of regulated and trusted brokers that we tested with real money. Every broker is available in the United States.

Find below the strengths of the best discount brokers in the Dominican Republic, updated for 2024:

  1. XTB is the best discount broker in the Dominican Republic in 2024. - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. High interest paid on cash.
  2. Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
  3. TradeStation Global - Low stock and ETF fees. Wide range of products. Easy-to-use web trading platform.
  4. tastytrade - Low trading fees. Great educational materials. Good research tools.
  5. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
  6. MEXEM - Low stock and ETF fees. Wide range of products. Many great research tools.
  7. TradeZero - Commission-free stock and ETF trading above a certain volume. Quick and easy account opening. Excellent education and customer support.
  8. XM - Low stock CFD and withdrawal fees. Easy and fast account opening. Great educational tools.
  9. Zacks Trade - Low fees. Extensive stock and ETF selection. Great customer service.
  10. ChoiceTrade - Commission-free stock and ETF trades. Fast and easy account opening. User-friendly mobile trading platform.
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Overview of the best discount brokers

While many brokers with low fees offer an excellent service, the ones in our toplist go the extra mile.

Broker
Fees class
Minimum deposit
XTB
Low
$0
Interactive Brokers
Low
$0
TradeStation Global
Low
$0
tastytrade
Low
$0
Alpaca Trading
Low
$0
MEXEM
Average
$0
TradeZero
Low
$250
XM
Low
$5
Zacks Trade
Low
$0
ChoiceTrade
Low
$100
Best discount brokers in 2024 for Dominican citizens

Popularity of the best discount brokers in the Dominican Republic

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

Fees at the top 10 discount brokers for Dominican citizens in 2024

What makes a good discount broker? Well, did we mention low fees? This includes commissions, financing rates, and, let's not forget, non-trading fees like inactivity or withdrawal fees. The tables below give you a good summary.

Broker
US stock
UK stock
XTB
$0.0
$0.0
Interactive Brokers
$1.0
$3.8
TradeStation Global
$1.5
$2.0
tastytrade
$0.0
-
Alpaca Trading
$0.0
-
MEXEM
$2.5
$3.1
TradeZero
$0.0
-
XM
$1.0
$9.0
Zacks Trade
$1.0
$15.0
ChoiceTrade
$0.0
-
Trading fees at Best discount brokers
Broker
Account fee
Inactivity fee
XTB
Interactive Brokers
TradeStation Global
tastytrade
Alpaca Trading
MEXEM
TradeZero
XM
Zacks Trade
ChoiceTrade
Non-trading fees at Best discount brokers

Product selection at the best discount brokers for Dominican citizens in 2024

Besides low trading fees and non-trading fees, a good discount brokerage firm should also offer access to a lot of markets and products, because providing low fees in more than one asset class is not an easy job. All brokers in our list offer real stocks, but we also looked into whether you can trade currencies, options or mutual funds.

Broker
Stocks
ETFs
XTB
Interactive Brokers
TradeStation Global
tastytrade
Alpaca Trading
MEXEM
TradeZero
XM
Zacks Trade
ChoiceTrade
Best discount brokers markets and products

And now, let's see the best discount brokers in detail one by one, starting with the winner, XTB.

XTB Logo

XTB

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76-85% of retail CFD accounts lose money

XTB snapshot
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service
Trading fee class Low
Fractional share dealing Yes
OTC share dealing No
Minimum deposit $0
Inactivity fee Yes
Easiness of account opening 5.0 stars
Read review For a detailed analysis of XTB services, check out our review for 2024

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Interactive Brokers snapshot
Recommended for Traders looking for broad market access and a professional trading environment
Trading fee class Low
Fractional share dealing Yes
OTC share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 3.1 stars
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2024

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TradeStation Global snapshot
Recommended for Traders and investors looking for low fees and a wide selection of products
Trading fee class Low
Fractional share dealing Yes
OTC share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 3.8 stars
Read review For a detailed analysis of TradeStation Global services, check out our review for 2024

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tastytrade snapshot
Recommended for Options and futures traders focusing on US markets
Trading fee class Low
Fractional share dealing Yes
OTC share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 5.0 stars
Read review For a detailed analysis of tastytrade services, check out our review for 2024

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Alpaca Trading snapshot
Recommended for Traders interested in algorithmic stock trading
Trading fee class Low
Fractional share dealing Yes
OTC share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 5.0 stars
Read review For a detailed analysis of Alpaca Trading services, check out our review for 2024

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MEXEM snapshot
Recommended for Investors and traders looking for low fees and sophisticated trading platforms
Trading fee class Average
Fractional share dealing Yes
OTC share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 5.0 stars
Read review For a detailed analysis of MEXEM services, check out our review for 2024

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TradeZero snapshot
Recommended for Investors and traders interested in commission-free trading and a focus on US stocks and options
Trading fee class Low
Fractional share dealing No
OTC share dealing Yes
Minimum deposit $250
Inactivity fee No
Easiness of account opening 5.0 stars
Read review For a detailed analysis of TradeZero services, check out our review for 2024
XM Logo

XM

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71.61% of retail CFD accounts lose money

XM snapshot
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek great account opening
Trading fee class Low
Fractional share dealing No
OTC share dealing No
Minimum deposit $5
Inactivity fee Yes
Easiness of account opening 5.0 stars
Read review For a detailed analysis of XM services, check out our review for 2024

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Zacks Trade snapshot
Recommended for Traders and investors looking for comprehensive research tools, a wide product selection and low fees
Trading fee class Low
Fractional share dealing Yes
OTC share dealing Yes
Minimum deposit $0
Inactivity fee Yes
Easiness of account opening 2.5 stars
Read review For a detailed analysis of Zacks Trade services, check out our review for 2024

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ChoiceTrade snapshot
Recommended for Stock and options traders looking for low trading fees and focusing on the US market
Trading fee class Low
Fractional share dealing No
OTC share dealing Yes
Minimum deposit $100
Inactivity fee Yes
Easiness of account opening 4.4 stars
Read review For a detailed analysis of ChoiceTrade services, check out our review for 2024

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How did we come up with this list of best discount brokers in 2024 for citizens in the Dominican Republic?

A great broker with low fees is the backbone of many trading strategies.

  • So we checked trading fees, with a special focus on stock and ETF fees,
  • We scrutinized non-trading fees (e.g. inactivity fees and withdrawal fees),
  • We took measure of their investment product selection,
  • We opened an account and tested their services with our own money.

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FAQ

What is a discount broker?

A discount stock broker is a brokerage company that executes your buy and sell orders at a low trading fee. Discount brokers can afford to charge lower fees because, unlike full-service brokers, they usually don't provide extra services such as research, personal investment advice, tax planning or robo-advisory.

The difference between full-service brokers and discount brokers has blurred somewhat in recent years. Discount brokers started to offer extra services as well, like research; while full-service brokers started to lower their fees. The traditional brokerage and wealth management industry is under fee pressure from increasingly cost-effective online broker companies.

Many US brokers have slashed their fees to zero and now promote commission-free trading, following in the footsteps of brokers such as Robinhood. Drawbacks for some of these commission-free brokers include the limited number of assets you can trade (for example, mutual funds are less likely to be offered), so some investors and traders still prefer traditional discount brokers, where order execution also tends to be better compared with zero-commission brokers.

How did BrokerChooser pick the best discount brokers?

We tested brokers based on more than 600 criteria, using real accounts and real money. When we selected the best discount brokers, the primary selection criteria were fees. Importantly, we only included brokers where you can trade real stocks. This means that we excluded brokers where stocks were only offered through CFDs.

We calculated the rankings based on trading fees for all asset classes, such as stock fees; as well as fees not directly related to trading, such as withdrawal fees. We also assigned a higher score to brokers that offer a wide range of asset classes, because providing low fees in more than one asset class is not an easy job and definitely a big plus for investors.

Lastly, we incorporated additional criteria to measure the overall quality of the broker: if the account opening process, customer service and other aspects of the broker are high quality, they all boosted the overall score.

Are these brokers reliable?

These brokers are all considered reliable. They are regulated by at least one top-tier financial authority. We at BrokerChooser distinguish between mid-tier and top-tier regulators, based on various factors with the most important being the investor protection amount.

Still unsure? Check out our broker finder tool and find the best broker for you, or learn more about how to invest your money.

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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.

author image
Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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