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To help you to find the best discount brokers in 2021 for citizens in the Seychelles, we went ahead and did the research for you. So what did we focus on? Fees, fees, and fees. We don't like them and surely you don't either. Checking carefully, we uncovered all the hidden fees. After testing 93 brokers for fees and checking what markets and products they offer, 5 made it to the top. And now, without further ado...

The top 5 picks for the best discount brokers for Seychellois citizens in 2021:

  1. Interactive Brokers is the best discount broker in the Seychelles in 2021. Low trading fees, average non-trading fee, free stock and ETF trading for US customers.
  2. Zacks Trade takes second place. Low trading and non-trading fees, high fund fees.
  3. Trading 212 rounds out the top three. Real stocks and ETFs are free, average CFD and high forex trading fees.
  4. Passfolio, numero quattro. Free stock and ETF trading, average non-trading fees.
  5. ChoiceTrade just made it to the list at number five. Low trading fees, high non-trading fees, low stock and ETF fees.
Best discount brokers in 2021 for Seychellois citizens
Broker Info Fees score
#1 Interactive Brokers US discount broker 4.2 stars
#2 Zacks Trade US discount broker 4.2 stars
#3 Trading 212 Global CFD and forex broker 3.3 stars
#4 Passfolio Global zero-commission stockbroker 4.5 stars
#5 ChoiceTrade US-based stockbroker 4.3 stars

What makes a good discount broker? Well, did we mention low fees? This holds for commissions, financing rates, and, let's not forget, non-trading fees like inactivity or withdrawal fees. The table above gives you a good hint; the scores include all fees, with 5.0 being the best. Besides low fees, a good discount broker should also offer access to a lot of markets and products. All brokers in our list offer real stocks, but we also looked into whether you can trade bonds, currencies and options.

These features may sound obvious and easy to list, but they're hard to figure out. We are testing brokers based on more than 300 criteria with real accounts and real money. We know what's up.

For a tailored recommendation, check out our broker finder tool. Just enter your country, and it will show you only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best discount brokers for Seychellois citizens in 2021 one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best discount broker
Interactive Brokers

4.9

Interactive Brokers review summary

 

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, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Our overall Interactive Brokers rating

Compare this broker to the best Interactive Brokers alternative here.

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

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools Understaffed customer service

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#1 Interactive Brokers
Fees
4.2

Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
Pros Cons
Low trading fees None
Free stock and ETF trading for US clients
Low margin rates
Interactive Brokers trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
US stock $1.0 $1.0 $0.0 $0.0 $0.0
UK stock $4.2 $16.8 $0.0 - -
EURUSD benchmark fee $10.7 - $28.5 - -
S&P 500 index CFD fee $2.8 - $4.1 - -
US Treasury bond $5.0 $5.5 - - -
US stock index options $6.5 $7.8 - - $20.0
Mutual fund $15.0 $27.5 - - -
Interactive Brokers non-trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Account fee No No No No Yes
Inactivity fee No No No No Yes
Withdrawal fee $0 $0 $0 $0 $5

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#1 Interactive Brokers
Markets and products
5.0

Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
Interactive Brokers markets and products
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes No Yes No No
Funds Yes Yes No No No
Bonds Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes No No No No
CFDs Yes No Yes No No
Crypto Yes No No Yes No

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#1 Interactive Brokers
Account opening
3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most account types Confusing messages throughout the process
Interactive Brokers minimum deposit and time to open an account
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Minimum deposit $0 $0 $1 $0 $100
Time to open account 1-3 days >3 days 1 day 1 day 1-3 days

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#1 Interactive Brokers
Deposit and withdrawal
3.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal each month free
Interactive Brokers withdrawal fee and options
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $5

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#1 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 mainly for advanced traders.

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

There are some drawbacks, though: we weren't satisfied with the level of customer service and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy 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 4.2 stars
Recommended for Traders looking for low fees and a professional trading environment

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Zacks Trade Logo

#2 Best discount broker
Zacks Trade

4.4

Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.

LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.

If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:

  • Zacks Trade has its own, different fee structure, product selection, educational tools and customer support.
  • The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.

Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators. 

Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees

Pros Cons
Low fees Complex desktop platform and research tools
Extensive stock and ETF selection Slow and complicated account opening
Great customer service Limited educational tools

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#2 Zacks Trade
Fees
4.2

Zacks Trade has low trading and non-trading fees. Its stock, ETF and bond trading fees are especially low, while mutual fund fees are quite high.
Pros Cons
Low stock and ETF fees / Free stock trading High fund fees
No withdrawal fee
No inactivity fee
Zacks Trade trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
US stock $1.0 $1.0 $0.0 $0.0 $0.0
UK stock $4.2 $16.8 $0.0 - -
EURUSD benchmark fee $10.7 - $28.5 - -
S&P 500 index CFD fee $2.8 - $4.1 - -
US Treasury bond $5.0 $5.5 - - -
US stock index options $6.5 $7.8 - - $20.0
Mutual fund $15.0 $27.5 - - -
Zacks Trade non-trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Account fee No No No No Yes
Inactivity fee No No No No Yes
Withdrawal fee $0 $0 $0 $0 $5

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#2 Zacks Trade
Markets and products
3.8

Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker, as well as US funds and options. However, you cannot trade futures or forex.
Zacks Trade markets and products
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes No Yes No No
Funds Yes Yes No No No
Bonds Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes No No No No
CFDs Yes No Yes No No
Crypto Yes No No Yes No

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#2 Zacks Trade
Account opening
2.8

Zacks Trade has a fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
Pros Cons
Fully digital Slow
No minimum deposit Not user-friendly
Zacks Trade minimum deposit and time to open an account
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Minimum deposit $0 $0 $1 $0 $100
Time to open account 1-3 days >3 days 1 day 1 day 1-3 days

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#2 Zacks Trade
Deposit and withdrawal
3.5

Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies
Zacks Trade withdrawal fee and options
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $5

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#2 Zacks Trade
Verdict

Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA.

On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.

There are some drawbacks though, as its desktop trading platform and research tools are quite complex. The account opening is complicated and slow. Lastly, we missed some useful educational tools.

As Zacks Trade provides a demo account and doesn't require any minimum deposit, feel free to try it.

Zacks Trade
Summary Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash).
Fees score 4.2 stars
Recommended for Traders and investors looking for comprehensive research tools, a wide product selection and low fees

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Trading 212 Logo

#3 Best discount broker
Trading 212

4.3

Trading 212 review summary

 

Trading 212 is a global CFD and forex broker, but clients can also trade stocks and ETFs free of charge. The company was founded in 2004 and is now headquartered in London. Trading 212 is regulated by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). 

Trading 212 is considered safe as it is regulated by the top-tier FCA. 

Disclaimer: 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.

Our overall Trading 212 rating

Compare this broker to the best Trading 212 alternative here. 

Recommended for active cfd and fx traders and investors looking for intuitive trading platforms

Pros Cons
Real stocks and ETFs are commission-free Limited product portfolio
Quick and easy account opening Missing phone and live chat support
Great trading platforms High forex fee

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76% of retail CFD accounts lose money

#3 Trading 212
Fees
3.3

Trading 212 has commission-free stocks and ETFs, and there are also no fees for deposit, withdrawal or inactivity. However, fees for forex trading are high.
Pros Cons
Free stock and ETF trading High forex fees
Low CFD fees High financing rate
No withdrawal and inactivity fee
Trading 212 trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
US stock $1.0 $1.0 $0.0 $0.0 $0.0
UK stock $4.2 $16.8 $0.0 - -
EURUSD benchmark fee $10.7 - $28.5 - -
S&P 500 index CFD fee $2.8 - $4.1 - -
US Treasury bond $5.0 $5.5 - - -
US stock index options $6.5 $7.8 - - $20.0
Mutual fund $15.0 $27.5 - - -
Trading 212 non-trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Account fee No No No No Yes
Inactivity fee No No No No Yes
Withdrawal fee $0 $0 $0 $0 $5

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76% of retail CFD accounts lose money

#3 Trading 212
Markets and products
3.9

Trading 212 focuses mainly on CFDs and forex. You can also trade real stocks and ETFs, but popular asset classes like bonds, mutual funds, options and futures are missing.
Trading 212 markets and products
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes No Yes No No
Funds Yes Yes No No No
Bonds Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes No No No No
CFDs Yes No Yes No No
Crypto Yes No No Yes No

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76% of retail CFD accounts lose money

#3 Trading 212
Account opening
4.5

The account opening process is straightforward, user-friendly and quick. Our account was verified within one business day.
Pros Cons
Fast Problems with verification
Fully digital
No minimum deposit
Trading 212 minimum deposit and time to open an account
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Minimum deposit $0 $0 $1 $0 $100
Time to open account 1-3 days >3 days 1 day 1 day 1-3 days

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76% of retail CFD accounts lose money

#3 Trading 212
Deposit and withdrawal
4.3

Trading 212 deposits and withdrawals are free, fast, and can be done in several way. On the negative side, there are only a few account base currencies available in each country.
Pros Cons
Credit/Debit card available Few base currencies available in each country
Free withdrawal
No deposit fee
Trading 212 withdrawal fee and options
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $5

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76% of retail CFD accounts lose money

#3 Trading 212
Verdict

Trading 212 works as a CFD and forex broker regulated by multiple financial supervisory authorities.

On the plus side, Trading 212 offers commission-free stocks and ETFs, while CFD fees and non-trading fees are low as well. The account opening process is seamless and the trading platforms are user-friendly.

However, Trading 212 has a limited product portfolio, lacking popular asset classes such as bonds or options. We missed phone and live chat support, and found forex fees relatively high.

So is Trading 212 good? Trading 212 is a good choice for those interested in investing in equities or trading leveraged forex and CFD products, with the use of a great trading platform. As it offers a demo account, don't hesitate to give it a try.

Trading 212
Summary Trading 212 is a CFD and forex broker regulated by the UK FCA and Bulgarian FSC. In the UK and Germany, Trading212 offers commission-free stock and ETF trading as well.
Fees score 3.3 stars
Recommended for Active CFD and FX traders and investors looking for intuitive trading platforms

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76% of retail CFD accounts lose money

Passfolio Logo

#4 Best discount broker
Passfolio

4.3

Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy investor protection under the SIPC policy of Passfolio's clearing firm for up to an additional $30 million (with a cash sub-limit of $900,000 per account), subject to an aggregate limit of $150 million.

Although Passfolio is a global broker, there is a distinct focus on Brazilian customers, as evidenced by the fact that a good portion of the content it offers is available in Portuguese. 

Passfolio is considered safe because it is regulated by top-tier authorities and offers extra protection to investors. 

Recommended for beginners and long-term investors focusing on the us stock market

Pros Cons
Free US stock and ETF trading Limited product portfolio focusing on US markets
Great mobile platform Deposit is not user-friendly
Fast and fully digital account opening Missing web and desktop platforms

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#4 Passfolio
Fees
4.5

Passfolio has attractive fees, as trading in all assets except for cryptos is free of charge above a trade value of $5. On the other hand, most withdrawal options carry a fee.
Pros Cons
Free stock and ETF trading above $5 Withdrawal fee
No account opening and maintenance fees High margin rates for stock trading
Passfolio trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
US stock $1.0 $1.0 $0.0 $0.0 $0.0
UK stock $4.2 $16.8 $0.0 - -
EURUSD benchmark fee $10.7 - $28.5 - -
S&P 500 index CFD fee $2.8 - $4.1 - -
US Treasury bond $5.0 $5.5 - - -
US stock index options $6.5 $7.8 - - $20.0
Mutual fund $15.0 $27.5 - - -
Passfolio non-trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Account fee No No No No Yes
Inactivity fee No No No No Yes
Withdrawal fee $0 $0 $0 $0 $5

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#4 Passfolio
Markets and products
2.0

Passfolio offers stocks, ETFs, REITs and ADRs traded on US stock exchanges, as well as cryptos. Popular assets such as mutual funds, bonds and options are not available.
Passfolio markets and products
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes No Yes No No
Funds Yes Yes No No No
Bonds Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes No No No No
CFDs Yes No Yes No No
Crypto Yes No No Yes No

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#4 Passfolio
Account opening
5.0

On mobile, the account opening at Passfolio is super fast and fully digital, with validation in just 15 minutes. On the other hand, there may be some issues when validating via desktop.
Pros Cons
Fully digital Verification can be buggy on desktop
No minimum deposit
Verification in 15 minutes
Passfolio minimum deposit and time to open an account
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Minimum deposit $0 $0 $1 $0 $100
Time to open account 1-3 days >3 days 1 day 1 day 1-3 days

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#4 Passfolio
Deposit and withdrawal
1.5

Passfolio's deposit functions are numerous and they all come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.
Pros Cons
No deposit fee Credit/Debit card not available
Only one account base currency
Not user-friendly
Passfolio withdrawal fee and options
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $5

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#4 Passfolio
Verdict

As an up-and-coming brokerage, the main attractive feature of Passfolio is its highly competitive fee structure. You can essentially trade free of charge with an amount exceeding $5, depositing funds is free and the broker doesn't charge any account fees either. The mobile app is exceptionally user-friendly and the account opening and validation was extremely fast.

On the negative side, the range of products is rather limited and customers have access solely to US markets (NYSE/NASDAQ). Depositing funds in your Passfolio account can prove to be a cumbersome process and all withdrawals carry a price tag. Educational materials are pretty scarce, albeit some of high quality, and videos are only available in Portuguese.

Passfolio is ideal for non-US investors looking for an easy-to-use platform to trade in US securities.

Passfolio
Summary Passfolio is a US-based commission-free stockbroker focusing on Brazil. It is regulated by both FINRA and SEC, and is available globally for clients.
Fees score 4.5 stars
Recommended for Beginners and long-term investors focusing on the US stock market

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ChoiceTrade Logo

#5 Best discount broker
ChoiceTrade

4.0

ChoiceTrade is a US-based stockbroker founded in 2000. The broker is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and it is also a member of SIPC. SIPC membership ensures that clients are eligible for the SIPC investor protection scheme, which protects assets up to $500,000 (cash up to $250,000) per account.

ChoiceTrade is considered safe because it has a long track record, it is regulated by top-tier regulators and it discloses its annual financial statements. 

Recommended for stock and options traders looking for low trading fees and focusing on the us market

Pros Cons
Commission-free listed stock and ETF trades High non-trading fees
Fast and easy account opening Not user-friendly withdrawal
User-friendly mobile trading platform Limited product portfolio

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#5 ChoiceTrade
Fees
4.3

ChoiceTrade charges low trading fees and you can trade listed stocks and ETFs with no commission. On the flip side, the non-trading fees are high.
Pros Cons
Low trading fees Withdrawal fee
Commission-free stock trading Inactivity fee
ChoiceTrade trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
US stock $1.0 $1.0 $0.0 $0.0 $0.0
UK stock $4.2 $16.8 $0.0 - -
EURUSD benchmark fee $10.7 - $28.5 - -
S&P 500 index CFD fee $2.8 - $4.1 - -
US Treasury bond $5.0 $5.5 - - -
US stock index options $6.5 $7.8 - - $20.0
Mutual fund $15.0 $27.5 - - -
ChoiceTrade non-trading fees
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Account fee No No No No Yes
Inactivity fee No No No No Yes
Withdrawal fee $0 $0 $0 $0 $5

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#5 ChoiceTrade
Markets and products
2.1

ChoiceTrade only offers stocks, ETFs and options traded on US and Canadian exchanges.
ChoiceTrade markets and products
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes No Yes No No
Funds Yes Yes No No No
Bonds Yes Yes No No No
Options Yes Yes No No Yes
Futures Yes No No No No
CFDs Yes No Yes No No
Crypto Yes No No Yes No

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#5 ChoiceTrade
Account opening
4.4

Opening an account at ChoiceTrade is easy, fast and fully digital for both US and international clients.
Pros Cons
Fully digital None
Low minimum deposit
User-friendly
ChoiceTrade minimum deposit and time to open an account
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Minimum deposit $0 $0 $1 $0 $100
Time to open account 1-3 days >3 days 1 day 1 day 1-3 days

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#5 ChoiceTrade
Deposit and withdrawal
0.8

The deposit process at ChoiceTrade is smooth, but withdrawing funds is cumbersome. Credit/debit cards are not accepted, there is a high withdrawal fee and the process is not user-friendly.
Pros Cons
No deposit fee Credit/Debit card not available
High withdrawal fee
Withdrawal is excessively complicated
ChoiceTrade withdrawal fee and options
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $5

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#5 ChoiceTrade
Verdict

US and international clients can trade listed stocks and ETFs with no commission at ChoiceTrade. The account opening is easy, fully digital and takes 1-2 days. The broker also offers a great and user-friendly mobile trading platform.

On the negative side, the inactivity fee and withdrawal fees for bank transfers are high. The withdrawal process is not user-friendly and only bank transfer is available. The product portfolio is limited, you can only trade stocks, ETFs, and options.

Given that the account opening is seamless and you can trade stocks and ETFs with zero commission, feel free to try it.

ChoiceTrade
Summary ChoiceTrade is a US stockbroker, regulated by top-tier US authorities the SEC and FINRA. It is not listed on a stock exchange and does not have a banking backgorund.
Fees score 4.3 stars
Recommended for Stock and options traders looking for low trading fees and focusing on the US market

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Best discount brokers
What makes a good discount broker?

You are probably curious how we came up with this list. To get a better understanding, let's discuss the following three points:

  1. What is a discount brokerage?
  2. Why do we think these brokers are safe?
  3. What were the most important factors when we picked 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 can afford to charge lower fees, since, unlike full-service brokers, they usually don't provide extra services like research, personal investment advice, tax planning or robo-advisory.

Discount brokers first appeared along with the rise of online broker services. Many brokerage companies started to provide their service online and fully automated via online trading platforms. An online trading platform is basically a website where you can insert your own orders, and while you get customer support, the broker offers no investment advice.

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, bonds 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.

Are these brokers safe?

These brokers are all considered safe.. They are regulated by at least one top-tier 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. It is very unlikely that you will run into severe problems, and even if you do, you are protected by a top-tier regulator.

How did BrokerChooser pick the best discount brokers?

We tested brokers based on more than 300 criteria, with a real account 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 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. Note that our maxium score is 5.0 and the minimum is 1.0.

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.

Best discount brokers
Bottom line

You saw the details, now let's zoom out. Here are the best discount brokers in 2021 for citizens in the Seychelles:

Best discount brokers in 2021 for Seychellois citizens
Interactive Brokers Zacks Trade Trading 212 Passfolio ChoiceTrade
Fees score 4.2 stars 4.2 stars 3.3 stars 4.5 stars 4.3 stars
Stock and ETF fee scores 4.8 stars 4.6 stars 5.0 stars 5.0 stars 5.0 stars
Markets and products score 5.0 stars 3.8 stars 3.9 stars 2.0 stars 2.1 stars
Account opening score 3.4 stars 2.8 stars 4.5 stars 5.0 stars 4.4 stars
Deposit and withdrawal score 3.5 stars 3.5 stars 4.3 stars 1.5 stars 0.8 stars
Visit broker Visit broker Visit broker
76% of retail CFD accounts lose money
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Interactive Brokers is our winner, the best discount broker in the Seychelles in 2021. Low trading fees, average non-trading fee, free stock and ETF trading for US customers.

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

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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