Intro and winners
Find below the best discount brokers in El Salvador, updated for 2023:
- Interactive Brokers is the best discount broker in El Salvador in 2023. - Low trading and non-trading fees, free stock and ETF trading for US customers.
- Alpaca Trading - Free stock and ETF trading, low non-trading fees.
- MEXEM - Average trading and non-trading fees.
- TradeStation - Low trading fees, average non-trading fees, free stock and ETF trading for US customers.
- CapTrader - Average trading and non-trading fees.
- Zacks Trade - Low trading and non-trading fees, high fund fees.
- ChoiceTrade - Low trading fees, high non-trading fees, low stock and ETF fees.
- SogoTrade - Low trading fees, average non-trading fees, low stock and ETF fees.
- EasyEquities - Low trading and non-trading fees..
- Swissquote - High trading fees, average non-trading fees, low fund fees.
Best discount brokers
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 |
|---|---|---|
| Interactive Brokers | Low | $0 $0 for non-margin client accounts, $2,000 for margin accounts. (A margin account is where you trade with borrowed money, also known as leverage.) |
| Alpaca Trading | Low | $0 $0 for retail account, $30,000 for business accounts |
| MEXEM | Low | $0 There is no minimum deposit |
| TradeStation | Low | $0 $1 for cash accounts, $2,000 for margin accounts, and $5,000 for futures accounts |
| CapTrader | Low | $2,000 The minimum deposit for standard accounts is €2000 (USD, GBP or equivalent in foreign currency). |
| Zacks Trade | Low | $0 No minimum deposit, but Zacks Trade recommends to open an account with $2500 |
| ChoiceTrade | Low | $100 $100 for cash accounts and $2,000 for margin accounts |
| SogoTrade | Low | $0 No minimum account balance |
| EasyEquities | Low | $0 There is no minimum deposit |
| Swissquote | High | $0 No minimum account balance |
Popularity of the best discount brokers in El Salvador
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Best discount brokers
Fees at the top 10 discount brokers for Salvadoran citizens in 2023
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 |
|---|---|---|
| Interactive Brokers | $1.0 Fixed pricing: $0.005 per share, min. $1, max. 1% of trade value. Free for US clients choosing IBKR Lite plan. | $3.7 Fixed £3 for trade value less than £6,000, 0.05% of trade value for more than £6,000 |
| Alpaca Trading | $0.0 Commission-free stock trading | - Not available |
| MEXEM | $2.5 $0.005 per share; min. $2.5, max. 2% of trade value | $3.1 0.08% of trade value with a minimum of £2.5, plus £1 fee on transaction exceeding £10.000, stamp tax of 0.5% |
| TradeStation | $0.0 Commission-free up to the first 10,000 shares per trade for US clients. $5 per trade for non-US clients | - Not available |
| CapTrader | $2.0 $0.01 per share; min. $2, max. 1% of trade value | $9.9 £8 + 0.05% of trade value for trade value more than £50,000; fixed £8 for trade value less than £50,000 |
| Zacks Trade | $1.0 $0.01 per share commission for stocks priced above $1, or 1% of trade value for stocks priced below $1. The minimum fee is $1. | $14.9 0.3% of trade value with a £12 minimum |
| ChoiceTrade | $0.0 Stocks above $1 have no commission, US stocks below $1 cost $12 per trade, foreign stocks cost $25 per trade. | - Not available |
| SogoTrade | $2.9 $2.88 flat fee/trade for market orders, $0 for limit orders | - Not available |
| EasyEquities | $5.0 0.25% per transaction | - Not available |
| Swissquote | $25.0 Volume-tiered commission ranging between $9 and $190 | $31.0 Flat commission depending on the trade value, min £25, max £190 |
| Broker | Account fee | Inactivity fee |
|---|---|---|
| Interactive Brokers | No account fee | No inactivity fee |
| Alpaca Trading | No account fee | No inactivity fee |
| MEXEM | No account fee. | No inactivity fee |
| TradeStation | No account fee | $50 per year if your balance is less than $2,000 or if you make less than 5 trades per year |
| CapTrader | No account fee | If your portfolio is below $1,000 and no trades have been carried out during the month, then a monthly fee of $1 applies |
| Zacks Trade | No account fee | $15 per month, but waived for account balances above $25,000 |
| ChoiceTrade | $10 per month for non-US accounts | $45 per quarter for individual accounts if you made less than 5 trades in the previous quarter. $55 for corporate accounts if you made less than 5 trades in the previous quarter |
| SogoTrade | No account fee | No inactivity fee |
| EasyEquities | No account fee | No inactivity fee |
| Swissquote | No account fee | No inactivity fee charged |
Best discount brokers
Product selection at the best discount brokers for Salvadoran citizens in 2023
Besides lowest 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 |
|---|---|---|
| Interactive Brokers | ||
| Alpaca Trading | only US stock exchanges | only US |
| MEXEM | ||
| TradeStation | US only | |
| CapTrader | ||
| Zacks Trade | Global | Global |
| ChoiceTrade | ||
| SogoTrade | ||
| EasyEquities | ||
| Swissquote |
And now, let's see the best discount brokers in detail one by one, starting with the winner, Interactive Brokers.
#1 Best discount broker
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| Interactive Brokers snapshot | |
|---|---|
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | Yes |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 3.2 stars |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2023 |
#2 Best discount broker
Alpaca Trading
Recommended for traders interested in algorithmic stock trading
| Alpaca Trading snapshot | |
|---|---|
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 4.8 stars |
| Read review | For a detailed analysis of Alpaca Trading services, check out our review for 2023 |
#3 Best discount broker
MEXEM
Recommended for investors and traders looking for low fees and sophisticated trading platforms
| MEXEM snapshot | |
|---|---|
| Trading fee class | Low |
| 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 2023 |
#4 Best discount broker
TradeStation
Recommended for traders focusing on us markets and buy-and-hold investing
| TradeStation snapshot | |
|---|---|
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | Yes |
| Minimum deposit | $0 |
| Inactivity fee | Yes |
| Easiness of account opening | 5.0 stars |
| Read review | For a detailed analysis of TradeStation services, check out our review for 2023 |
#5 Best discount broker
CapTrader
Recommended for investors and traders looking for low fees and sophisticated trading platforms
| CapTrader snapshot | |
|---|---|
| Trading fee class | Average |
| Fractional share dealing | Yes |
| OTC share dealing | Yes |
| Minimum deposit | $2,000 |
| Inactivity fee | Yes |
| Easiness of account opening | 1.0 stars |
| Read review | For a detailed analysis of CapTrader services, check out our review for 2023 |
#6 Best discount broker
Zacks Trade
Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
| Zacks Trade snapshot | |
|---|---|
| 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 2023 |
#7 Best discount broker
ChoiceTrade
Recommended for stock and options traders looking for low trading fees and focusing on the us market
| ChoiceTrade snapshot | |
|---|---|
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | Yes |
| Minimum deposit | $100 |
| Inactivity fee | Yes |
| Easiness of account opening | 4.2 stars |
| Read review | For a detailed analysis of ChoiceTrade services, check out our review for 2023 |
#8 Best discount broker
SogoTrade
Recommended for stock and options traders with a us focus who value great customer service
| SogoTrade snapshot | |
|---|---|
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | Yes |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 5.0 stars |
| Read review | For a detailed analysis of SogoTrade services, check out our review for 2023 |
#9 Best discount broker
EasyEquities
Recommended for long-term investors focusing on stocks and etfs
| EasyEquities snapshot | |
|---|---|
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 3.5 stars |
| Read review | For a detailed analysis of EasyEquities services, check out our review for 2023 |
#10 Best discount broker
Swissquote
Recommended for affluent investors who value safety and are ok with higher fees
| Swissquote snapshot | |
|---|---|
| Trading fee class | High |
| Fractional share dealing | No |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 4.0 stars |
| Read review | For a detailed analysis of Swissquote services, check out our review for 2023 |
Best discount brokers
Didn't find the best broker for you?
Answer a few questions and get a personalized broker list!
Your broker toplist will be selected based on your answers.
Best discount brokers
How did we come up with this list of best discount brokers in 2023 for citizens in El Salvador?
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.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology. Now let's jump straight to the results.
Best discount brokers
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 almost 500 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.
Comments