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To help you to find the best discount brokers in 2021 for citizens in Taiwan, 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 94 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 Taiwanese citizens in 2021:

  1. TD Ameritrade is the best discount broker in Taiwan in 2021. Low trading and non-trading fees, high fund fees.
  2. Interactive Brokers takes second place. Low trading fees, average non-trading fee, free stock and ETF trading for US customers.
  3. Zacks Trade rounds out the top three. Low trading and non-trading fees, high fund fees.
  4. Firstrade, numero quattro. Low trading and non-trading fees, free stock, ETF, fund and options trading.
  5. Trading 212 just made it to the list at number five. Real stocks and ETFs are free, average CFD and high forex trading fees.
Best discount brokers in 2021 for Taiwanese citizens
Broker Info Fees score
#1 TD Ameritrade US-based stockbroker 4.3 stars
#2 Interactive Brokers International broker providing all asset classes 4.5 stars
#3 Zacks Trade US discount broker 4.2 stars
#4 Firstrade US discount broker 4.6 stars
#5 Trading 212 Global CFD and forex broker 3.3 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 Taiwanese citizens in 2021 one by one, starting with the winner, TD Ameritrade.

TD Ameritrade Logo

#1 Best discount broker
TD Ameritrade

4.8

This TD Ameritrade Review concludes that it is recommended for investors and experienced traders looking for solid research and a well-equipped desktop trading platform, the Thinkorswim platform.

It is one of the biggest US-based stockbrokers, founded in 1975. As an online broker, it is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

It is considered to be a safe broker as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier regulators.

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Pros Cons
Low trading fees (free stock and ETF trading) You can trade only on US markets
Superb desktop trading platform Accounts mostly limited to US residents
Great customer support No credit/debit cards and electronic wallets for money transfer

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#1 TD Ameritrade
Fees
4.3

TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for futures.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Free stocks and ETFs
TD Ameritrade trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
US stock $0.0 $1.0 $1.0 $0.0 $0.0
UK stock - $4.2 $16.8 - $0.0
EURUSD benchmark fee $7.1 $10.7 - - $28.5
S&P 500 index CFD fee - $2.8 - - $4.1
US Treasury bond $0.0 $5.0 $5.5 $0.0 -
US stock index options $6.5 $6.5 $7.8 $0.0 -
Mutual fund $50.0 $15.0 $27.5 $0.0 -
TD Ameritrade non-trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

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#1 TD Ameritrade
Markets and products
4.0

You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.
TD Ameritrade markets and products
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No No Yes
Funds Yes Yes Yes Yes No
Bonds Yes Yes Yes Yes No
Options Yes Yes Yes Yes No
Futures Yes Yes No No No
CFDs No Yes No No Yes
Crypto Yes Yes No No No

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#1 TD Ameritrade
Account opening
3.6

TD Ameritrade offers many different account types, and there is no minimum deposit for US citizens.
Pros Cons
Fully digital None
No minimum deposit
Many account types
TD Ameritrade minimum deposit and time to open an account
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Minimum deposit $0 $0 $0 $0 $1
Time to open account 1-3 days 1-3 days >3 days 1-3 days 1 day

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#1 TD Ameritrade
Deposit and withdrawal
2.2

The account funding is user-friendly with no deposit fees, but USD is the only available base currency, and wire transfers incur a high fee.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Only one account base currency
User-friendly High withdrawal fee for wire transfers
TD Ameritrade withdrawal fee and options
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $0

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#1 TD Ameritrade
Verdict

It is one of the biggest US online brokers. It charges no commission on stock and ETFs.

Research and education are outstanding, the Thinkorswim desktop platform is one of the best on the market. Customer service is great.

The drawbacks are that it charges high financing (margin) rates, and it doesn't accept credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers only the US markets.

We definitely recommend giving it a try, especially as their education tools include a demo as well.

TD Ameritrade
Summary TD Ameritrade is a US stockbroker regulated by top-tier authorities SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group.
Fees score 4.3 stars
Recommended for Investors and traders looking for solid research and a well-equipped desktop trading platform

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Interactive Brokers Logo

#2 Best discount broker
Interactive Brokers

4.9

Interactive Brokers review summary

 

Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1978. 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).

Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.

Our overall Interactive Brokers rating

Compare this broker to the best Interactive Brokers alternative here.

Recommended for traders looking for broad market access 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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#2 Interactive Brokers
Fees
4.5

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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
US stock $0.0 $1.0 $1.0 $0.0 $0.0
UK stock - $4.2 $16.8 - $0.0
EURUSD benchmark fee $7.1 $10.7 - - $28.5
S&P 500 index CFD fee - $2.8 - - $4.1
US Treasury bond $0.0 $5.0 $5.5 $0.0 -
US stock index options $6.5 $6.5 $7.8 $0.0 -
Mutual fund $50.0 $15.0 $27.5 $0.0 -
Interactive Brokers non-trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

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#2 Interactive Brokers
Markets and products
5.0

At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
Interactive Brokers markets and products
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No No Yes
Funds Yes Yes Yes Yes No
Bonds Yes Yes Yes Yes No
Options Yes Yes Yes Yes No
Futures Yes Yes No No No
CFDs No Yes No No Yes
Crypto Yes Yes No No No

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#2 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
Interactive Brokers minimum deposit and time to open an account
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Minimum deposit $0 $0 $0 $0 $1
Time to open account 1-3 days 1-3 days >3 days 1-3 days 1 day

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#2 Interactive Brokers
Deposit and withdrawal
3.0

Interactive Brokers offers several account base currencies 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 free each month
Interactive Brokers withdrawal fee and options
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $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 both for advanced traders and for everyday investors who want to have access to many stock markets.

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

There are some drawbacks, though. We weren't satisfied with the quaity of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, 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 is 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 4.5 stars
Recommended for Traders looking for broad market access and a professional trading environment

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Zacks Trade Logo

#3 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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#3 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
US stock $0.0 $1.0 $1.0 $0.0 $0.0
UK stock - $4.2 $16.8 - $0.0
EURUSD benchmark fee $7.1 $10.7 - - $28.5
S&P 500 index CFD fee - $2.8 - - $4.1
US Treasury bond $0.0 $5.0 $5.5 $0.0 -
US stock index options $6.5 $6.5 $7.8 $0.0 -
Mutual fund $50.0 $15.0 $27.5 $0.0 -
Zacks Trade non-trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

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#3 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No No Yes
Funds Yes Yes Yes Yes No
Bonds Yes Yes Yes Yes No
Options Yes Yes Yes Yes No
Futures Yes Yes No No No
CFDs No Yes No No Yes
Crypto Yes Yes No No No

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#3 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Minimum deposit $0 $0 $0 $0 $1
Time to open account 1-3 days 1-3 days >3 days 1-3 days 1 day

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#3 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $0

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#3 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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Firstrade Logo

#4 Best discount broker
Firstrade

4.4

Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name First Flushing Securities.

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

Recommended for beginners and investors looking for zero-commission trading, focusing on the us market

Pros Cons
Free stock, ETF, fund and options trading No credit/debit cards and electronic wallets for money transfer
Solid research tools You can trade only on US markets
Quality educational tools No live chat or 24/7 availability

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#4 Firstrade
Fees
4.6

Firstrade has low fees. It offers free stock, ETF, funds, and options trading with low non-trading fees. However, margin rates are high.
Pros Cons
Low trading fees High margin rates
Low non-trading fees
Free stock, ETF, fund and options trading
Firstrade trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
US stock $0.0 $1.0 $1.0 $0.0 $0.0
UK stock - $4.2 $16.8 - $0.0
EURUSD benchmark fee $7.1 $10.7 - - $28.5
S&P 500 index CFD fee - $2.8 - - $4.1
US Treasury bond $0.0 $5.0 $5.5 $0.0 -
US stock index options $6.5 $6.5 $7.8 $0.0 -
Mutual fund $50.0 $15.0 $27.5 $0.0 -
Firstrade non-trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

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#4 Firstrade
Markets and products
2.8

Firstrade offers a good variety of asset classes, from stocks to options. However, the products cover only the US market and you cannot trade futures or forex.
Firstrade markets and products
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No No Yes
Funds Yes Yes Yes Yes No
Bonds Yes Yes Yes Yes No
Options Yes Yes Yes Yes No
Futures Yes Yes No No No
CFDs No Yes No No Yes
Crypto Yes Yes No No No

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#4 Firstrade
Account opening
4.4

Account opening is fully digital and user-friendly, and is open to some international customers as well. On the flip side, the process was slow for us, taking almost 3 business days.
Pros Cons
Fully digital Slow account verification
No minimum deposit
Low minimum deposit
Firstrade minimum deposit and time to open an account
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Minimum deposit $0 $0 $0 $0 $1
Time to open account 1-3 days 1-3 days >3 days 1-3 days 1 day

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#4 Firstrade
Deposit and withdrawal
2.0

We liked Firstrade's user-friendly deposit and withdrawal process. There is no deposit fee and transferring money is easy. At the same time, there is still room for improvement: you can use only bank transfers and a high fee is charged for wire transfer withdrawals.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly Only one account base currency
High outgoing wire transfer fee
Firstrade withdrawal fee and options
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $0

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#4 Firstrade
Verdict

Firstrade is one of the biggest discount US stockbrokers and is regulated by top-tier regulators.

Firstrade offers free stock, ETF, mutual funds and options trading. It doesn't charge inactivity and account fees, and there are lots of quality research and educational tools you can use.

Their services have some drawbacks, though. Firstrade doesn't accept credit/debit cards and electronic wallets for money transfer. The product portfolio covers only the US market. Customer service is only available 24/5 and you can't contact them via live chat. 

As it has low fees and no inactivity fee is charged, feel free to try Firstrade.

Firstrade
Summary Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.
Fees score 4.6 stars
Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

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Trading 212 Logo

#5 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

#5 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
US stock $0.0 $1.0 $1.0 $0.0 $0.0
UK stock - $4.2 $16.8 - $0.0
EURUSD benchmark fee $7.1 $10.7 - - $28.5
S&P 500 index CFD fee - $2.8 - - $4.1
US Treasury bond $0.0 $5.0 $5.5 $0.0 -
US stock index options $6.5 $6.5 $7.8 $0.0 -
Mutual fund $50.0 $15.0 $27.5 $0.0 -
Trading 212 non-trading fees
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

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76% of retail CFD accounts lose money

#5 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex Yes Yes No No Yes
Funds Yes Yes Yes Yes No
Bonds Yes Yes Yes Yes No
Options Yes Yes Yes Yes No
Futures Yes Yes No No No
CFDs No Yes No No Yes
Crypto Yes Yes No No No

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76% of retail CFD accounts lose money

#5 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Minimum deposit $0 $0 $0 $0 $1
Time to open account 1-3 days 1-3 days >3 days 1-3 days 1 day

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76% of retail CFD accounts lose money

#5 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
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No Yes
Electronic wallets No No No No Yes
Withdrawal fee $0 $0 $0 $0 $0

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76% of retail CFD accounts lose money

#5 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

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 Taiwan:

Best discount brokers in 2021 for Taiwanese citizens
TD Ameritrade Interactive Brokers Zacks Trade Firstrade Trading 212
Fees score 4.3 stars 4.5 stars 4.2 stars 4.6 stars 3.3 stars
Stock and ETF fee scores 5.0 stars 4.8 stars 4.6 stars 5.0 stars 5.0 stars
Markets and products score 4.0 stars 5.0 stars 3.8 stars 2.8 stars 3.9 stars
Account opening score 3.6 stars 3.4 stars 2.8 stars 4.4 stars 4.5 stars
Deposit and withdrawal score 2.2 stars 3.0 stars 3.5 stars 2.0 stars 4.3 stars
Visit broker Visit broker Visit broker Visit broker Visit broker
76% of retail CFD accounts lose money

TD Ameritrade is our winner, the best discount broker in Taiwan in 2021. Low trading and non-trading fees, high fund fees.

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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