Best discount brokers in Slovenia for 2019

Choose the best discount broker in Slovenia, 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 41 brokers, 5 made it to the top. And now, without further ado...

The top 5 picks for the best discount brokers for Slovenian citizens in 2019:

1. Interactive Brokers is the winner. Very low fees, especially in the USA.
2. eToro, place two. Free stock and ETF trading in Europe, but high non-trading fees.
3. Tradestation. Low fees, especially for high-volume traders.. Third place.
4. SogoTrade in the fourth place. Low trading, but high non-trading fees.
5. TradeStation Global made it to the best discount broker list. Very low fees, especially in Europe.

All 5 brokers are considered safe. They are regulated by top-tier financial regulators.

What makes a good discount broker? Certainly, damn low fees. This holds for commissions, financing rates, and a lot of people forget, non-trading fees like inactivity or withdrawal fees. Besides low fees, the ease of opening an account and depositing are also important. They should offer access to a lot of markets and need to have a great platform.

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

Boring, but important stuff: some brokers offer CFD products. They are complex and very risky, thus not suitable for everyone. You can easily lose all of your invested money. If you don't have a clue what a CFD is, start with these CFD trading tips.

Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best discount brokers for Slovenian citizens in 2019 one by one. Starting with the winner, Interactive Brokers.

#1 Best discount broker
Interactive Brokers

Best online broker

Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.

Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Recommended for traders who prefer low fees and a professional trading environment

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#1 Interactive Brokers
Fees 4 stars

Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.

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#1 Interactive Brokers
Account opening 3 stars

The account opening process is fully digital, but slow and complicated.

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#1 Interactive Brokers
Deposit and withdrawal 2 stars

Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.

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#1 Interactive Brokers
Markets and products 5 stars

Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.

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#1 Interactive Brokers
Web trading platform 4 stars

The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.

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#1 Interactive Brokers
Verdict

IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.

It has low trading fees, a wide range of product portfolio, and diverse research tools. 

On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.

Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.

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#2 Best discount broker
eToro

Best social trading

eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.

eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.

eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for traders and those interested in social trading (copying other traders’ trades)

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66% of retail CFD accounts lose money

#2 eToro
Fees 4 stars

eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.

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66% of retail CFD accounts lose money

#2 eToro
Account opening 5 stars

Account opening is enjoyable and super fast.

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66% of retail CFD accounts lose money

#2 eToro
Deposit and withdrawal 4 stars

It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.

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66% of retail CFD accounts lose money

#2 eToro
Markets and products 3 stars

At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading or CopyPortfolio.

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66% of retail CFD accounts lose money

#2 eToro
Web trading platform 4 stars

eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.

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66% of retail CFD accounts lose money

#2 eToro
Verdict

When looking back, eToro was a bit unreliable in 2017 because of the huge demand for cryptos. It had problems in customer support and the platform sometimes froze. In our latest test eToro improved.

On the plus side, eToro has zero-commission stock trading in Europe. The account opening is really fast and seamless. It has also a lot of innovative features, like social trading.

It has some drawbacks though. Customer service was a letdown, the platform did not work on multiple occasions. Also, it has a tight product range which includes stocks and CFDs. Non-trading fees are high.

To sum up, we recommend eToro for social trading and cheap stock trading.

Risk disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

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66% of retail CFD accounts lose money

#3 Best discount broker
Tradestation

TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.

TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.

Recommended for traders wanting great research tools and preferring the us markets

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#3 Tradestation
Fees 4 stars

TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.

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#3 Tradestation
Account opening 4 stars

TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.

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#3 Tradestation
Deposit and withdrawal 2 stars

TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.

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#3 Tradestation
Markets and products 2 stars

TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.

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#3 Tradestation
Web trading platform 4 stars

TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.

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#3 Tradestation
Verdict

TradeStation is a great US broker.

The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality. 

On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.

Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.

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#4 Best discount broker
SogoTrade

SogoTrade is a US-based stock broker founded in 1986 and regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority.

While it is not listed on any stock exchanges and it doesn't have a bank background SogoTrade is considered safe because it has a long track record and it is regulated by top-tier regulators. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.

Recommended for stock and options traders aiming for a us-based stockbroker with great customer service

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#4 SogoTrade
Fees 4 stars

SogoTrade has low trading fees and high non-trading fees.

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#4 SogoTrade
Account opening 5 stars

Opening an account at SogoTrade is easy, fast and fully digital for both US and international citizens.

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#4 SogoTrade
Deposit and withdrawal 2 stars

SogoTrade offers free funding. On the other hand, you can transfer money only by bank transfer and non-US clients are charged $50, while US clients are charged $25 for bank transfer withdrawal.

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#4 SogoTrade
Markets and products 1 stars

At SogoTrade, you can trade only with US stocks, ETFs, and options.

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#4 SogoTrade
Web trading platform 3 stars

The SogoTrade trading platform is user-friendly, has a good search function, and offers a variety of order types. However, it's not customizable, it doesn't look nice, and doesn't have price alerts.

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#4 SogoTrade
Verdict

SogoTrade is a great broker for US stock and options trading.

The account opening at SogoTrade is easy, fully digital, and takes 1-2 days. It has also great customer support which gives fast and relevant answers. Lastly, you can use a wide range of research tools, including a wide range of analytical tools.

On the negative side, SogoTrade charges $50 per year inactivity fee and high withdrawal fees for bank transfers, $50 for non-US clients and $25 for US clients. The product offer is limited, you can trade only with stock, ETF, and options. The desktop trading platform can be improved as it is not user-friendly-structured and misses essential tools, like price alerts.

As the account opening is seamless, and SogoTrade offers 100 commission-free trades for new account opens, feel free to try it.

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#5 Best discount broker
TradeStation Global

TradeStation is a US broker, and it offers TradeStation Global for non-US clients through its UK subsidiary.

TradeStation Global is practically Interactive Brokers's service, not TradeStation's. 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. This is like you buy a British Airways flight ticket and then the plane is operated by Delta.

Both Interactive Brokers and TradeStation are very reputable brokers. Both have stock exchange listed parents and are regulated by top-tier regulators.

TradeStation Global is considered safe because it is regulated by the top-tier FCA, the UK regulator.

Recommended for traders looking for low fees and a lot of products

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#5 TradeStation Global
Fees 4 stars

TradeStation Global has low trading fees and high non-trading fees. Its financing rates are very competitive as well. On the other hand, there are withdrawal and inactivity fees.

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#5 TradeStation Global
Account opening 2 stars

TradeStation Global account open is the same as Interactive Brokers. It is fully digital but slow and complicated. There is also $5,000 minimum required.

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#5 TradeStation Global
Deposit and withdrawal 2 stars

TradeStation Global deposit and withdrawal is the same as Interactive Brokers. There are many base currencies, and one free withdrawal per month. On the flip side, only bank transfer.

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#5 TradeStation Global
Markets and products 5 stars

TradeStation Global has a great product offer. You can reach many markets and trade with all product types.

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#5 TradeStation Global
Web trading platform 2 stars

For trading online, you can use only Interactive Brokers' web trading platform. It is good for execution and has very advanced order management. It is not user-friendly and standard functions are missing or underdeveloped.

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#5 TradeStation Global
Verdict

TradeStation Global has low trading fees and financing rate, a lot of products on a lot of markets, and a great customer support. The TradeStation Global desktop platform has great tools, like a charting tool with a lot of indicators, a highly customizable watchlist (Radar Screen), and visualized order placing (Matrix).

On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. The account opening is complicated and there is a $5,000 minimum account balance. Lastly, the web trading platform is under-developed and not user-friendly. 

Feel free to try TradeStation if you prefer low fees and a lot of products. 

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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?

Yes, all three are considered safe. You can be sure none of them is a scam. They are regulated by top-tier regulators. Interactive Brokers is also listed on an exchange.

However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.

If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.

How did Brokerchooser pick the best discount brokers?

At Brokerchooser we test online brokers along ~100 criteria, with a real account and real money. Not to overwhelm you we list the most important criteria.

The primary selection criteria were fees. We concentrated on stock trading fees and also checked the financing rate, in case you want to trade with a leverage. No inactivity fee was a plus.

The 5 most important criteria for discount brokers are:

Best discount brokers
Bottom line

You saw the details, now let's zoom out. Here are the best discount brokers of 2019 in Slovenia:

Interactive Brokers is our winner, the best discount broker for Slovenian citizens in 2019. Very low fees, especially in the USA.

All three are considered safe, and a great choice. Pick the winner, or any runner-up and save a lot of money on fees. Let us know what you think in the comment section.

Still unsure? Use the broker finder and find the best broker for you.

AUTHOR

Dan Sallai

CMO

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

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