feed linkedin-square facebook-square twitter-square question-circle-o

Best discount brokers in Turkey for 2019

Jun 2019
Top 2 discount brokers
Interactive Brokers
tastyworks

Choose the best discount broker in Turkey, 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 56 brokers, 4 made it to the top. And now, without further ado...

The top 4 picks for the best discount brokers for Turkish citizens in 2019:

  1. Interactive Brokers is the winner. Very low fees, especially in the USA.
  2. tastyworks, place two. Low US options and stock fees.
  3. TradeStation Global. Very low fees, especially in Europe. Third place.
  4. XTB in the fourth place. Low non-trading fees and financing rates, high trading fees.
Best discount brokers of 2019 for Turkish citizens
Broker Info Fees
#1 Interactive Brokers US discount broker 4 stars
#2 tastyworks US options and stockbroker 4 stars
#3 TradeStation Global UK-based global broker 4 stars
#4 XTB Global CFD and FX broker 4 stars

All 4 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 Turkish citizens in 2019 one by one. Starting with the winner, Interactive Brokers.

#1 Best discount broker
Interactive Brokers

4.8 5 stars

Best online broker

Interactive Brokers logo

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

Pros
  • Broad product portfolio
  • Low fees
  • Great and diverse research tools
Cons
  • Funding and withdrawal only through bank transfer
  • Complicated account opening process
  • Not user-friendly and complicated desktop trading platform

Visit broker

#1 Interactive Brokers
Fees 4 stars

Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
Pros
  • Low trading fees
  • Transparent fee structure
Cons
  • Inactivity fee
Interactive Brokers fees
Interactive Brokers tastyworks TradeStation Global XTB
Apple benchmark fee $2.2 $5.2 $3.2 $18.1
Vodafone benchmark fee $17.9 - $2.7 $24.4
EURUSD benchmark fee $23.0 - $23.0 $17.1
Interactive Brokers fees for stock trading
Interactive Brokers tastyworks TradeStation Global XTB
USA $0.005 per share, min $1, max 0.5% of trade value $5for opening and the closing is free $0.007 per share, min $1.5 0.08% of trade value; minimum $8
Germany 0.1%, min €4, max €99 Not available 0.12%, min €1.8 0.08% of trade value; minimum €8
UK £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value Not available 0.12%, min £1.5 0.08% of trade value; minimum £8
Interactive Brokers non-trading fees
Interactive Brokers tastyworks TradeStation Global XTB
Account fee No No No No
Inactivity fee Yes No Yes No
Withdrawal fee $0 $45 $0 $0

More Visit broker

#1 Interactive Brokers
Account opening 3 stars

The account opening process is fully digital, but slow and complicated.
Pros
  • Fully digital account opening
  • No minimum deposit for most accounts
Cons
  • Slow account opening
  • Not user-friendly
  • Confusing messages throughout the process
Interactive Brokers minimum deposit and time to open an account
Interactive Brokers tastyworks TradeStation Global XTB
Minimum deposit $0 $0 $1,000 $250
Time to open account 1-3 days 1-3 days 1-3 days 1 day

More Visit broker

#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.
Pros
  • Several account base currencies
  • No charge for the first withdrawal each month
Cons
  • Credit/Debit card not available
  • Slow funding and withdrawal - over 3 days
Interactive Brokers withdrawal fee and options
Interactive Brokers tastyworks TradeStation Global XTB
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $45 $0 $0

More Visit broker

#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.
Interactive Brokers markets and products
Interactive Brokers tastyworks TradeStation Global XTB
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex Yes No Yes Yes
Fund Yes No Yes No
Bond Yes No Yes No
Options Yes Yes Yes No
Futures Yes Yes Yes No
CFD Yes No Yes Yes
Crypto Yes No Yes Yes

More Visit broker

#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.
Pros
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
Cons
  • Limited customizability (for charts, workspace)
Best discount brokers - Interactive Brokers trading platform
Interactive Brokers trading platforms
Interactive Brokers tastyworks TradeStation Global XTB
Web platform score 4 stars 4 stars 2 stars 4 stars
Mobile platform score 4 stars 4 stars 4 stars 4 stars
Desktop platform score 3 stars 4 stars 3 stars 4 stars

More Visit broker

#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.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC.
Fees score 4 stars
Recommended for Traders who prefer low fees and a professional trading environment

More Visit broker

#2 Best discount broker
tastyworks

4.5 5 stars

Best for options

tastyworks logo

tastyworks is a young, upcoming US broker focusing on options trading.

The people behind tastyworks are proven experts who built thinkorswim, now operated by TD Ameritrade.  tastyworks is privately owned, established in 2017 and headquartered in Chicago.

tastyworks is considered safe as it is regulated by a top-tier regulator, the US FINRA.

Recommended for price sensitive equity and option traders focusing on the us

Pros
  • Low options trading fees
  • Great education materials
  • Very good customer service
Cons
  • Only US options, futures, and stocks
  • Can be intimidating for beginners
  • Trading platforms have some bugs

Visit broker

#2 tastyworks
Fees 4 stars

tastyworks has low trading fees and average non-trading fees. Its options fees are very low as well.
Pros
  • Low trading fees
  • No inactivity fee
  • Transparent fee structure
Cons
  • Withdrawal fee
  • High financing rate
tastyworks fees
Interactive Brokers tastyworks TradeStation Global XTB
Apple benchmark fee $2.2 $5.2 $3.2 $18.1
Vodafone benchmark fee $17.9 - $2.7 $24.4
EURUSD benchmark fee $23.0 - $23.0 $17.1
tastyworks fees for stock trading
Interactive Brokers tastyworks TradeStation Global XTB
USA $0.005 per share, min $1, max 0.5% of trade value $5for opening and the closing is free $0.007 per share, min $1.5 0.08% of trade value; minimum $8
Germany 0.1%, min €4, max €99 Not available 0.12%, min €1.8 0.08% of trade value; minimum €8
UK £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value Not available 0.12%, min £1.5 0.08% of trade value; minimum £8
tastyworks non-trading fees
Interactive Brokers tastyworks TradeStation Global XTB
Account fee No No No No
Inactivity fee Yes No Yes No
Withdrawal fee $0 $45 $0 $0

More Visit broker

#2 tastyworks
Account opening 4 stars

tastyworks account opening is user-friendly and fully digital. You can open your account without a required minimum. On the flip side, it can be more days until your account is approved.
Pros
  • Fully digital account opening
  • No minimum deposit
  • User-friendly
Cons
  • Can take 3 business days
tastyworks minimum deposit and time to open an account
Interactive Brokers tastyworks TradeStation Global XTB
Minimum deposit $0 $0 $1,000 $250
Time to open account 1-3 days 1-3 days 1-3 days 1 day

More Visit broker

#2 tastyworks
Deposit and withdrawal 2 stars

tastyworks deposit and withdrawal can be improved. The account can be opened only in USD. Also, non-US citizens can only use bank transfer, and there is high withdrawal fee.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • High withdrawal fee
  • Only one account base currency
tastyworks withdrawal fee and options
Interactive Brokers tastyworks TradeStation Global XTB
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $45 $0 $0

More Visit broker

#2 tastyworks
Markets and products 1 stars

At tastyworks you can trade with US stocks, ETFs, options, and some futures.
tastyworks markets and products
Interactive Brokers tastyworks TradeStation Global XTB
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex Yes No Yes Yes
Fund Yes No Yes No
Bond Yes No Yes No
Options Yes Yes Yes No
Futures Yes Yes Yes No
CFD Yes No Yes Yes
Crypto Yes No Yes Yes

More Visit broker

#2 tastyworks
Web trading platform 4 stars

Tastyworks web trading platform feels like entering the cockpit of a plane. It looks organized, but also complicated at first sight.
Pros
  • Clear fee report
  • Good search function
  • Great options trading panel with embedded strategies
Cons
  • Limited customizability (for charts, workspace)
  • Can be intimidating for beginners
Best discount brokers - tastyworks trading platform
tastyworks trading platforms
Interactive Brokers tastyworks TradeStation Global XTB
Web platform score 4 stars 4 stars 2 stars 4 stars
Mobile platform score 4 stars 4 stars 4 stars 4 stars
Desktop platform score 3 stars 4 stars 3 stars 4 stars

More Visit broker

#2 tastyworks
Verdict

tastyworks is an excellent broker for options trading. It could be a bit complicated if you want to trade stocks only.  

tastyworks is a US broker, hence investor protection scheme is excellent. Options fees are very low, among the bests. Its trading platform is aimed at experienced options traders, it can be intimidating for starters.

As there is no minimum deposit, no inactivity or monthly fee, and the account open is seamless, feel free to try it.

 

tastyworks
Summary Tastyworks is a young US options and stockbroker. It is regulated by FINRA, the top-tier US regulator.
Fees score 4 stars
Recommended for Price sensitive equity and option traders focusing on the US

More Visit broker

#3 Best discount broker
TradeStation Global

4.5 5 stars

TradeStation Global logo

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

Pros
  • Low trading fees
  • Wide range of products
  • Fast and relevant customer service
Cons
  • Not user-friendly deposit and withdrawal
  • Complicated account opening
  • Under-developed web trading platform

Visit broker

#3 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.
Pros
  • Low financing rate
Cons
  • Withdrawal fee
  • $10 inactivity fee
TradeStation Global fees
Interactive Brokers tastyworks TradeStation Global XTB
Apple benchmark fee $2.2 $5.2 $3.2 $18.1
Vodafone benchmark fee $17.9 - $2.7 $24.4
EURUSD benchmark fee $23.0 - $23.0 $17.1
TradeStation Global fees for stock trading
Interactive Brokers tastyworks TradeStation Global XTB
USA $0.005 per share, min $1, max 0.5% of trade value $5for opening and the closing is free $0.007 per share, min $1.5 0.08% of trade value; minimum $8
Germany 0.1%, min €4, max €99 Not available 0.12%, min €1.8 0.08% of trade value; minimum €8
UK £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value Not available 0.12%, min £1.5 0.08% of trade value; minimum £8
TradeStation Global non-trading fees
Interactive Brokers tastyworks TradeStation Global XTB
Account fee No No No No
Inactivity fee Yes No Yes No
Withdrawal fee $0 $45 $0 $0

More Visit broker

#3 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 $1,000 minimum required.
Pros
  • Fully digital account opening
  • Dedicated account manager
Cons
  • Not user-friendly
  • Slow account opening, 1-2 days
  • Minimum account balance is $1,000
TradeStation Global minimum deposit and time to open an account
Interactive Brokers tastyworks TradeStation Global XTB
Minimum deposit $0 $0 $1,000 $250
Time to open account 1-3 days 1-3 days 1-3 days 1 day

More Visit broker

#3 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.
Pros
  • Several account base currencies
  • No charge for the first withdrawal every month.
Cons
  • Credit/Debit card not available
  • Slow funding and withdrawal - over 3 days
TradeStation Global withdrawal fee and options
Interactive Brokers tastyworks TradeStation Global XTB
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $45 $0 $0

More Visit broker

#3 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.
TradeStation Global markets and products
Interactive Brokers tastyworks TradeStation Global XTB
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex Yes No Yes Yes
Fund Yes No Yes No
Bond Yes No Yes No
Options Yes Yes Yes No
Futures Yes Yes Yes No
CFD Yes No Yes Yes
Crypto Yes No Yes Yes

More Visit broker

#3 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.
Pros
  • Clear fee report
  • Good variety of order types
Cons
  • Not user-friendly
  • Poor search function
  • Difficult to set the alerts
Best discount brokers - TradeStation Global trading platform
TradeStation Global trading platforms
Interactive Brokers tastyworks TradeStation Global XTB
Web platform score 4 stars 4 stars 2 stars 4 stars
Mobile platform score 4 stars 4 stars 4 stars 4 stars
Desktop platform score 3 stars 4 stars 3 stars 4 stars

More Visit broker

#3 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 $1,000 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. 

TradeStation Global
Summary TradeStation Global is a discount broker for EU clients. It is regulated by the top-tier FCA.
Fees score 4 stars
Recommended for Traders looking for low fees and a lot of products

More Visit broker

#4 Best discount broker
XTB

4.5 5 stars

Best CFD broker

XTB logo

XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via the UK or a Polish entity. We tested the UK entity but will provide info on all entities.

XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including the UK FCA.

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.

Recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools

Pros
  • Fast deposit and withdrawal
  • Fast and user-friendly account opening
  • Good research tools
Cons
  • Limited product portfolio, mostly CFD and FX
  • Sales team can be pushy
  • No 24/7 customer support

Visit broker
76% of retail CFD accounts lose money

#4 XTB
Fees 4 stars

XTB has average trading fees and low non-trading fees.
Pros
  • Low non-trading fees
  • No withdrawal fee
  • No inactivity fee
Cons
None
XTB fees
Interactive Brokers tastyworks TradeStation Global XTB
Apple benchmark fee $2.2 $5.2 $3.2 $18.1
Vodafone benchmark fee $17.9 - $2.7 $24.4
EURUSD benchmark fee $23.0 - $23.0 $17.1
XTB fees for stock trading
Interactive Brokers tastyworks TradeStation Global XTB
USA $0.005 per share, min $1, max 0.5% of trade value $5for opening and the closing is free $0.007 per share, min $1.5 0.08% of trade value; minimum $8
Germany 0.1%, min €4, max €99 Not available 0.12%, min €1.8 0.08% of trade value; minimum €8
UK £6 up to £50,000 Trade Value; £6 + 0.05% of incremental trade value > £50,000; max £29 for > £50,000 Trade Value Not available 0.12%, min £1.5 0.08% of trade value; minimum £8
XTB non-trading fees
Interactive Brokers tastyworks TradeStation Global XTB
Account fee No No No No
Inactivity fee Yes No Yes No
Withdrawal fee $0 $45 $0 $0

More Visit broker
76% of retail CFD accounts lose money

#4 XTB
Account opening 5 stars

XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • Sales team pushy
XTB minimum deposit and time to open an account
Interactive Brokers tastyworks TradeStation Global XTB
Minimum deposit $0 $0 $1,000 $250
Time to open account 1-3 days 1-3 days 1-3 days 1 day

More Visit broker
76% of retail CFD accounts lose money

#4 XTB
Deposit and withdrawal 5 stars

XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
Pros
  • Credit/Debit card available
  • Quick funding and withdrawal -within 3 days
  • User-friendly
Cons
  • High fees for electronic wallet deposits
XTB withdrawal fee and options
Interactive Brokers tastyworks TradeStation Global XTB
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $45 $0 $0

More Visit broker
76% of retail CFD accounts lose money

#4 XTB
Markets and products 2 stars

UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
XTB markets and products
Interactive Brokers tastyworks TradeStation Global XTB
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex Yes No Yes Yes
Fund Yes No Yes No
Bond Yes No Yes No
Options Yes Yes Yes No
Futures Yes Yes Yes No
CFD Yes No Yes Yes
Crypto Yes No Yes Yes

More Visit broker
76% of retail CFD accounts lose money

#4 XTB
Web trading platform 4 stars

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safer) login
  • Limited order types
Best discount brokers - XTB trading platform
XTB trading platforms
Interactive Brokers tastyworks TradeStation Global XTB
Web platform score 4 stars 4 stars 2 stars 4 stars
Mobile platform score 4 stars 4 stars 4 stars 4 stars
Desktop platform score 3 stars 4 stars 3 stars 4 stars

More Visit broker
76% of retail CFD accounts lose money

#4 XTB
Verdict

XTB is a good broker. It is regulated by more than 10 authorities globally, including the UK FCA, and it is listed on the Warsaw Stock Exchange. 

On the plus side, the deposit and withdrawal process is fast. We liked the seamless and hassle-free account opening. The research tools are easy-to-use.

XTB has some drawbacks though. Its product range is mainly limited to FX and CFDs, but there are stocks trading is also available in some countries. When opening the account the sales team can be pushy. We also missed the 24/7 customer support.

We recommend XTB for clients who prefer forex and CFD trading and are looking for fast account opening, cheap money withdrawal and great research tools. Feel free to test it via the demo account.

XTB
Summary XTB is a global CFD broker, listed on the Warsaw Stock Exchange, regulated by regulators, like FCA and KNF, the polish regulator.
Fees score 4 stars
Recommended for Forex and CFD traders looking for great funding and withdrawal processes and research tools

More Visit broker
76% 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?

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:

5 most important criteria for the best discount brokers in 2019
1. Fees: Discount brokers' main advantage is the low cost. However, even discount brokers have significant fee differences. Worth to check the fees.
2. Deposit and withdrawal: Transferring money to your account can be 5 times longer and more expensive at one discount broker compared to another.
3. Account opening: Some online brokers require at least $10,000 to invest, others don't set a minimal first-time deposit. Check out what the best discount brokers require.
4. Products and markets: You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account.
5. Trading platform: A user-friendly and well-equipped trading platform can significantly increase your trading comfort.

Best discount brokers
Bottom line

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

Best discount brokers for Turkish citizens
Interactive Brokers tastyworks TradeStation Global XTB
Award Best online broker Best for options Best CFD broker
Fees score 4 stars 4 stars 4 stars 4 stars
Account opening score 3 stars 4 stars 2 stars 5 stars
Deposit and withdrawal score 2 stars 2 stars 2 stars 5 stars
Markets and products score 5 stars 1 stars 5 stars 2 stars
Web platform score 4 stars 4 stars 2 stars 4 stars
Visit broker Visit broker Visit broker Visit broker
76% of retail CFD accounts lose money

Interactive Brokers is our winner, the best discount broker for Turkish 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
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.
Follow Brokerchooser on Twitter

Share

Comments