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Best discount brokers in Paraguay in 2020

TradeStation Global
4.5
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Interactive Brokers
4.9
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XTB
4.6
Visit broker
75% of retail CFD accounts lose money
TradeStation Global
4.5
Visit broker
Interactive Brokers
4.9
Visit broker
XTB
4.6
Visit broker
75% of retail CFD accounts lose money
Best discount brokers in Paraguay in 2020

Choose the best discount broker in 2020 for citizens in Paraguay, 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 Paraguayan citizens in 2020:

  1. TradeStation Global is the best discount broker in Paraguay in 2020. Low trading and non-trading fees, high fund fees.
  2. Interactive Brokers is the second. Low trading fees, average non-trading fee, free stock and ETF trading for US customers.
  3. XTB rounded out the top three. Low trading and non-trading fees, high stock CFD fees. Third place.
  4. XM in the fourth place. Low trading fees, average non-trading fees, low CFD fees.
  5. IG. Average trading fees, low non-trading fees, low index CFD fees. Just made it to the list with being number five.
Best discount brokers in 2020 for Paraguayan citizens
Broker Info Fees score
#1 TradeStation Global UK-based global broker 4.0
#2 Interactive Brokers US discount broker 4.0
#3 XTB Global CFD and forex broker 4.0
#4 XM Global CFD and forex broker 4.0
#5 IG Global CFD and forex broker 3.0

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, it also should offer access to a lot of markets and products.

Easy to list, but hard to figure it out. We are testing brokers along more than 100 criteria with real accounts and real money. We know what's up.

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 Paraguayan citizens in 2020 one by one, starting with the winner, TradeStation Global.

TradeStation Global Logo

#1 Best discount broker
TradeStation Global

4.5

TradeStation Global is the brand of TradeStation International, which is based in the UK and regulated by the top-tier FCA. TradeStation International is the subsidiary of TradeStation, while introducing broker of Interactive Brokers (IB).  

Therefore, TradeStation Global is a combined product of TradeStation and IB. You can reach IB's markets almost at IB's fees. You can trade on both IB's and TradeStation's desktop platform. The customer service is by TradeStation. 

Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on NASDAQ, TradeStation itself is not: only TradeStation's parent company Monex is listed on the Tokyo Stock Exchange.

 

Recommended for traders looking for low fees and a wide selection of products

Pros Cons
Low trading fees Not user-friendly deposit and withdrawal
Wide range of products Complicated account opening
Fast and relevant customer service Limited education materials

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#1 TradeStation Global
Fees
4.0

TradeStation Global has low trading fees, especially for stock and ETF. It's also great that there is no inactivity fee and the first withdrawal in each month is free of charge. On the other hand, mutual fund fees are high.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Low stock and ETF fees
TradeStation Global trading fees
TradeStation Global Interactive Brokers XTB XM IG
US stock $1.5 $1.0 $10.0 $0.0 $15.0
UK stock $2.4 $7.2 $10.0 - $9.6
EURUSD benchmark fee $17.9 $17.9 $15.0 $17.1 $16.9
Mutual fund $25.0 $15.0 - - -
US Treasury bond $7.5 $5.0 - - -
US stock index options $15.0 $7.0 - - $10.0
TradeStation Global non-trading fees
TradeStation Global Interactive Brokers XTB XM IG
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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#1 TradeStation Global
Account opening
3.0

TradeStation Global's account opening is fully digital and fast. On the negative side, the process is complicated and there is a high, $1,000 minimum required deposit.
Pros Cons
Fast Minimum deposit is higher than $500
Fully digital Not user-friendly
TradeStation Global minimum deposit and time to open an account
TradeStation Global Interactive Brokers XTB XM IG
Minimum deposit $1,000 $0 $250 $5 $0
Time to open account 1 day 1-3 days 1 day 1 day 1-3 days

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#1 TradeStation Global
Deposit and withdrawal
3.0

TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies Not user-friendly
No charge for the first withdrawal every month.
TradeStation Global withdrawal fee and options
TradeStation Global Interactive Brokers XTB XM IG
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

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#1 TradeStation Global
Markets and products
5.0

With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.
TradeStation Global markets and products
TradeStation Global Interactive Brokers XTB XM IG
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes No Yes
Forex Yes Yes Yes Yes Yes
Fund Yes Yes No No No
Bond Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes Yes No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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#1 TradeStation Global
Web trading platform
4.0

You can use Interactive Brokers' web trading platforms. Client Portal is simple and easy to use even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report Difficult to set the alerts
Two-step (safer) login
Best discount brokers - TradeStation Global trading platform
TradeStation Global trading platforms
TradeStation Global Interactive Brokers XTB XM IG
Web platform score 4.0 4.0 4.0 3.0 5.0
Mobile platform score 4.0 4.0 4.0 4.0 5.0
Desktop platform score 3.0 3.0 4.0 3.0 -

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#1 TradeStation Global
Verdict

TradeStation Global has low trading fees, has access to a lot of products and markets, and has great customer support. The TradeStation Global desktop platform has great charting tools, and plenty of indicators highly customizable watchlists (Radar Screen), and visualized order placing (Matrix).

On the other hand, the deposit and withdrawal process is not user-friendly and you can use only a bank transfer. The account opening is complicated and for full account verification, a minimum deposit of $1,000 is needed. Lastly, the education section could be extended with more materials, as of now, it is limited.

If you prefer low fees with IB's product range, feel free to try TradeStation Global.

TradeStation Global
Summary TradeStation Global is an introducing broker for EU clients. It is regulated by the top-tier UK FCA.
Fees score 4.0
Recommended for Traders looking for low fees and a wide selection of products

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Interactive Brokers Logo

#2 Best discount broker
Interactive Brokers

4.9

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, the broker is considered safe. Also, having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

Pros Cons
Wide range of products Extremely complex desktop trading platform
Many great research tools Complicated account opening process
Regulated by several authorities Funding and withdrawal only via bank transfer

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#2 Interactive Brokers
Fees
4.0

Interactive Brokers has low trading fees and for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
Pros Cons
Low trading fees Inactivity fee
Low stock and ETF fees
Low financing rate
Free stock and ETF trading for US clients
Interactive Brokers trading fees
TradeStation Global Interactive Brokers XTB XM IG
US stock $1.5 $1.0 $10.0 $0.0 $15.0
UK stock $2.4 $7.2 $10.0 - $9.6
EURUSD benchmark fee $17.9 $17.9 $15.0 $17.1 $16.9
Mutual fund $25.0 $15.0 - - -
US Treasury bond $7.5 $5.0 - - -
US stock index options $15.0 $7.0 - - $10.0
Interactive Brokers non-trading fees
TradeStation Global Interactive Brokers XTB XM IG
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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#2 Interactive Brokers
Account opening
3.0

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the online registration is complicated and account verification takes around 2 business days.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most accounts types Confusing messages throughout the process
Interactive Brokers minimum deposit and time to open an account
TradeStation Global Interactive Brokers XTB XM IG
Minimum deposit $1,000 $0 $250 $5 $0
Time to open account 1 day 1-3 days 1 day 1 day 1-3 days

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#2 Interactive Brokers
Deposit and withdrawal
3.0

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies Not user-friendly
First withdrawal each month free
Interactive Brokers withdrawal fee and options
TradeStation Global Interactive Brokers XTB XM IG
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

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#2 Interactive Brokers
Markets and products
5.0

Through Interactive Brokers you can access an extremely wide range of markets, with every product type available.
Interactive Brokers markets and products
TradeStation Global Interactive Brokers XTB XM IG
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes No Yes
Forex Yes Yes Yes Yes Yes
Fund Yes Yes No No No
Bond Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes Yes No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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#2 Interactive Brokers
Web trading platform
4.0

Interactive Brokers's web platform is simple and easy to use even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best discount brokers - Interactive Brokers trading platform
Interactive Brokers trading platforms
TradeStation Global Interactive Brokers XTB XM IG
Web platform score 4.0 4.0 4.0 3.0 5.0
Mobile platform score 4.0 4.0 4.0 4.0 5.0
Desktop platform score 3.0 3.0 4.0 3.0 -

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#2 Interactive Brokers
Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker for advanced traders.

On the plus side, IB has a vast range of markets and products available, with diverse research tools and low costs

There are some drawbacks though: you can only fund your account via wire transfer and the account opening process is complicated. The desktop platform is complex and hard-to-understand, especially for beginners.

If you have experience navigating complex platforms and you like transparent low-cost trading, Interactive Brokers could be a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.0
Recommended for Traders looking for low fees and a professional trading environment

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XTB Logo

#3 Best discount broker
XTB

4.6

XTB is a global CFD and forex broker with headquarters in London and Warsaw. The company is regulated by several financial authorities worldwide, including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF). XTB is listed on the Warsaw Stock Exchange.

XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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 low fees and great deposit/withdrawal service

Pros Cons
Low forex and stock index CFD fees High fee for stock CFD
Free and fast deposit and withdrawal Limited product portfolio, mostly CFD and FX
Easy and fast account opening Poor email support

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75% of retail CFD accounts lose money

#3 XTB
Fees
4.0

XTB has low trading fees and low non-trading fees. Within trading fees, there are low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high.
Pros Cons
Low trading fees High stock CFD fees
Low non-trading fees
No withdrawal fee
XTB trading fees
TradeStation Global Interactive Brokers XTB XM IG
US stock $1.5 $1.0 $10.0 $0.0 $15.0
UK stock $2.4 $7.2 $10.0 - $9.6
EURUSD benchmark fee $17.9 $17.9 $15.0 $17.1 $16.9
Mutual fund $25.0 $15.0 - - -
US Treasury bond $7.5 $5.0 - - -
US stock index options $15.0 $7.0 - - $10.0
XTB non-trading fees
TradeStation Global Interactive Brokers XTB XM IG
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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75% of retail CFD accounts lose money

#3 XTB
Account opening
5.0

XTB's account opening process is hassle-free, fully digital and straightforward. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XTB minimum deposit and time to open an account
TradeStation Global Interactive Brokers XTB XM IG
Minimum deposit $1,000 $0 $250 $5 $0
Time to open account 1 day 1-3 days 1 day 1 day 1-3 days

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75% of retail CFD accounts lose money

#3 XTB
Deposit and withdrawal
5.0

XTB deposits and withdrawals are cost-friendly, fast, and can be done in several forms.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
XTB withdrawal fee and options
TradeStation Global Interactive Brokers XTB XM IG
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

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75% of retail CFD accounts lose money

#3 XTB
Markets and products
3.0

XTB's product selection covers only CFDs, forex and crypto assets. Some European clients can also trade with real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
XTB markets and products
TradeStation Global Interactive Brokers XTB XM IG
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes No Yes
Forex Yes Yes Yes Yes Yes
Fund Yes Yes No No No
Bond Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes Yes No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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75% of retail CFD accounts lose money

#3 XTB
Web trading platform
4.0

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, a two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Best discount brokers - XTB trading platform
XTB trading platforms
TradeStation Global Interactive Brokers XTB XM IG
Web platform score 4.0 4.0 4.0 3.0 5.0
Mobile platform score 4.0 4.0 4.0 4.0 5.0
Desktop platform score 3.0 3.0 4.0 3.0 -

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75% of retail CFD accounts lose money

#3 XTB
Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA, and it is listed on the Warsaw Stock Exchange. 

On the plus side, its forex and stock index CFD fees are low and the deposit and withdrawal process is free and fast. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. The stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Lastly, its email support did not reply to our queries.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options and a fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA and Poland's KNF.
Fees score 4.0
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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75% of retail CFD accounts lose money

XM Logo

#4 Best discount broker
XM

4.4

Trading Point Holding, XM's parent company, was founded in 2009 and it is a global CFD and FX broker. Trading Point Holding has two brands: XM and Trading.com.

XM is available globally and regulated by three financial authorities: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), International Financial Services Commission of Belize (IFSC).

Trading.com was launched in 2019 and is available only for EEA residents, except Belgian, Cypriot, Greek, and Swiss residents. Trading.com is regulated by the Financial Conduct Authority (FCA).

In this review, we focus on the XM brand.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.10% 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. Risk warnings are shown on the website but they are unclear on percentages

Recommended for forex and cfd traders who prefer metatrader platforms and seek low trading fees

Pros Cons
Low CFD and withdrawal fees Only CFDs, forex, cryptos for Europeans
Easy and fast account opening Average forex fees
Great educational tools Inactivity fee

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69.10% of retail CFD accounts lose money

#4 XM
Fees
4.0

XM has low trading fees for CFD's and no withdrawal fee. On the other hand, the forex fees are average and there is a fee for inactivity.
Pros Cons
Low CFD fees Inactivity fee
No withdrawal fee Average FX fees
XM trading fees
TradeStation Global Interactive Brokers XTB XM IG
US stock $1.5 $1.0 $10.0 $0.0 $15.0
UK stock $2.4 $7.2 $10.0 - $9.6
EURUSD benchmark fee $17.9 $17.9 $15.0 $17.1 $16.9
Mutual fund $25.0 $15.0 - - -
US Treasury bond $7.5 $5.0 - - -
US stock index options $15.0 $7.0 - - $10.0
XM non-trading fees
TradeStation Global Interactive Brokers XTB XM IG
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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69.10% of retail CFD accounts lose money

#4 XM
Account opening
5.0

XM account opening is hassle-free and straightforward. Your account is ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM minimum deposit and time to open an account
TradeStation Global Interactive Brokers XTB XM IG
Minimum deposit $1,000 $0 $250 $5 $0
Time to open account 1 day 1-3 days 1 day 1 day 1-3 days

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69.10% of retail CFD accounts lose money

#4 XM
Deposit and withdrawal
5.0

XM's deposit and withdrawal are fast, can be done in several forms, and are cost-friendly.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
Free wire withdrawal for more than $200 withdrawals
XM withdrawal fee and options
TradeStation Global Interactive Brokers XTB XM IG
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

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69.10% of retail CFD accounts lose money

#4 XM
Markets and products
3.0

At XM, you can trade with CFDs, forex, and cryptos. Non-European clients can also trade with some real stocks. There are no ETFs, mutual funds, bonds, options, and futures.
XM markets and products
TradeStation Global Interactive Brokers XTB XM IG
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes No Yes
Forex Yes Yes Yes Yes Yes
Fund Yes Yes No No No
Bond Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes Yes No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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69.10% of retail CFD accounts lose money

#4 XM
Web trading platform
3.0

The web trading platform of XM is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts, and the design is outdated.
Pros Cons
Clear fee report No price alerts
Good customizability (for charts, workspace) Outdated design
Best discount brokers - XM trading platform
XM trading platforms
TradeStation Global Interactive Brokers XTB XM IG
Web platform score 4.0 4.0 4.0 3.0 5.0
Mobile platform score 4.0 4.0 4.0 4.0 5.0
Desktop platform score 3.0 3.0 4.0 3.0 -

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69.10% of retail CFD accounts lose money

#4 XM
Verdict

XM is regulated by more authorities globally, including the top-tier ASIC.

On the plus side, we liked the low CFD and withdrawal fees. The account opening is seamless and hassle-free. There is a wide range of educational tools in great quality.

XM has some drawbacks though. Its product range is limited to FX, CFDs, cryptos. Stocks only for non-Europeans. Its forex fees are average. Lastly, a monthly $5 fee is charged after three months of inactivity. 

We recommend XM for clients who prefer CFD and forex trading and are looking for MetaTrader trading platforms. Feel free to test it via the demo account.

XM
Summary XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC.
Fees score 4.0
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

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69.10% of retail CFD accounts lose money

IG Logo

#5 Best discount broker
IG

4.5

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the Financial Conduct Authority (FCA) and the Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

Pros Cons
First-class web trading platform High stock CFD fees
Superb educational tools Limited product portfolio
Great deposit and withdrawal options Poor phone support

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75% of retail CFD accounts lose money

#5 IG
Fees
3.0

IG has low fees for stock index CFD, while forex fees are average to low. There is no fee for withdrawal and the inactivity fee is charged only after 2 years. On the negative side, the stock CFD fees are high.
Pros Cons
No withdrawal fee Inactivity fee
Low index CFD trading fees High stock CFD fee
IG trading fees
TradeStation Global Interactive Brokers XTB XM IG
US stock $1.5 $1.0 $10.0 $0.0 $15.0
UK stock $2.4 $7.2 $10.0 - $9.6
EURUSD benchmark fee $17.9 $17.9 $15.0 $17.1 $16.9
Mutual fund $25.0 $15.0 - - -
US Treasury bond $7.5 $5.0 - - -
US stock index options $15.0 $7.0 - - $10.0
IG non-trading fees
TradeStation Global Interactive Brokers XTB XM IG
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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75% of retail CFD accounts lose money

#5 IG
Account opening
4.0

IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
Pros Cons
Fully digital Slower account opening
Low minimum deposit
No minimum deposit for bank transfer
IG minimum deposit and time to open an account
TradeStation Global Interactive Brokers XTB XM IG
Minimum deposit $1,000 $0 $250 $5 $0
Time to open account 1 day 1-3 days 1 day 1 day 1-3 days

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75% of retail CFD accounts lose money

#5 IG
Deposit and withdrawal
5.0

IG offers free and fast deposit and withdrawal. There are various options for funding your account, including traditional methods such as bank wire and credit card funding, as well as PayPal.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
IG withdrawal fee and options
TradeStation Global Interactive Brokers XTB XM IG
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

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75% of retail CFD accounts lose money

#5 IG
Markets and products
3.0

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real shares. Other popular assets, like mutual funds or bonds, are not available.
IG markets and products
TradeStation Global Interactive Brokers XTB XM IG
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes No Yes
Forex Yes Yes Yes Yes Yes
Fund Yes Yes No No No
Bond Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes Yes No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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75% of retail CFD accounts lose money

#5 IG
Web trading platform
5.0

IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Best discount brokers - IG trading platform
IG trading platforms
TradeStation Global Interactive Brokers XTB XM IG
Web platform score 4.0 4.0 4.0 3.0 5.0
Mobile platform score 4.0 4.0 4.0 4.0 5.0
Desktop platform score 3.0 3.0 4.0 3.0 -

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75% of retail CFD accounts lose money

#5 IG
Verdict

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.

IG has one of the best web trading platforms Brokerchooser tested. The deposit and withdrawal conditions are great. You can also educate yourself with great educational materials.

On the other hand, there are some drawbacks. The stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs, and options. The phone customer service has also low quality.

Feel free to test IG's first-class trading platform since there is no minimum funding amount for bank transfers and you can easily open a demo account too. 

IG
Summary IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA.
Fees score 3.0
Recommended for Traders of any experience level looking for an easy-to-use trading platform

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75% 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:

  1. What is a discount broker?
  2. Why do we think these brokers are safe?
  3. 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?

You can be sure none of them is a scam. They are regulated by at least one top-tier regulator.

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 more than 100 criteria, with a real account and real money. When we selected the best discount brokers, the primary selection criteria were fees.

We made the rank based on the trading fees of all asset classes, such as stock fees, and the fees not related to trading, like the withdrawal fees. We also scored positively if the broker provides a wide range of asset classes, because providing low fees in more than one asset class is not an easy job.

Best discount brokers
Bottom line

You saw the details, now let's zoom out. Here are best discount brokers in 2020 for citizens in Paraguay:

Best discount brokers in 2020 for Paraguayan citizens
TradeStation Global Interactive Brokers XTB XM IG
Fees score 4.0 4.0 4.0 4.0 3.0
Account opening score 3.0 3.0 5.0 5.0 4.0
Deposit and withdrawal score 3.0 3.0 5.0 5.0 5.0
Markets and products score 5.0 5.0 3.0 3.0 3.0
Web platform score 4.0 4.0 4.0 3.0 5.0
Visit broker Visit broker Visit broker
75% of retail CFD accounts lose money
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69.10% of retail CFD accounts lose money
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75% of retail CFD accounts lose money

TradeStation Global is our winner, the best discount broker in Paraguay in 2020. Low trading and non-trading fees, high fund fees.

All brokers are considered 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 or learn more about investing your money.

Tibor Bedő

Tibor Bedő

Co-founder, CEO

Author of this article

Tibor believes having a good stockbroker is everybody's privilege. He worked extensively in the financial industry, including at Morgan Stanley and at The Boston Consulting Group (BCG). He advised leading European banks on strategy, finance and risk management.

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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Visit XTB
75% of retail CFD accounts lose money
Visit XM
69.10% of retail CFD accounts lose money
Visit IG
75% of retail CFD accounts lose money
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