To find the best international online brokers in Aruba, we went ahead and did the research for you. After testing, analyzing and comparing 63 brokers, 5 made it to the top. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for the best international online brokers of 2020 for citizens in Aruba:
- Interactive Brokers is the number one international online broker in 2020. Wide range of products. Many great research tools. Regulated by several authorities.
- Oanda is your runner-up. Generally low fees. Easy-to-use web trading platform. Easy and digital account opening.
- XTB rounds out the top three. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
- City Index, numero quatro. Low fees for forex and index CFDs. Fast and smooth account opening. Diverse research tools.
- TradeStation Global. Low trading fees. Wide range of products. Fast and relevant customer service. Just made it to the list at number five.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.9 | Best online broker |
| #2 | Oanda | US forex broker | 4.6 | Best mobile trading platform |
| #3 | XTB | Global CFD and forex broker | 4.6 | Best CFD broker |
| #4 | City Index | Global CFD and forex broker | 4.6 | |
| #5 | TradeStation Global | UK-based global broker | 4.6 | Best broker for buy and hold |
What makes a good online broker? First of all, they must offer fair fees and have a good safety score. It should also be easy to open an account and deposit money. They should give you access to many products, and they need to have a great trading platform.
Easy to list, but hard to figure out. That’s why we are testing brokers along more than 100 criteria, using real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker? For a tailored recommendation, check out our broker finder tool. You can enter your country, and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with this detailed comparison table.
And now, let's see the best international online brokers in 2020 for citizens in Aruba one by one, starting with the winner, Interactive Brokers.
I just wanted to give you a big thanks!
#1 Best international online brokers for citizens in Aruba
Interactive Brokers
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
As it has licenses from multiple top-tier regulators, the broker is considered safe. Also, having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Recommended for traders looking for low fees and a professional trading environment
| Pros | Cons |
|---|---|
| • Wide range of products | • Extremely complex desktop trading platform |
| • Many great research tools | • Complicated account opening process |
| • Regulated by several authorities | • High inactivity fee |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Low stock and ETF fees | |
| • Low financing rate | |
| • Free stock and ETF trading for US clients |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| US stock | $1.0 | - | $10.0 | - | $1.5 |
| UK stock | $7.2 | - | $10.0 | - | $2.4 |
| EURUSD benchmark fee | $17.9 | $15.9 | $15.0 | $12.8 | $17.9 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#1 Interactive Brokers
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the online registration is complicated and account verification takes around 2 business days.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most accounts types | • Confusing messages throughout the process |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $250 | $0 | $1,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | • Not user-friendly |
| • First withdrawal each month free |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | Yes | No |
| Electronic wallets | No | Yes | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#1 Interactive Brokers
Markets and products
Through Interactive Brokers you can access an extremely wide range of markets, with every product type available.
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | No | Yes | No | Yes |
| ETF | Yes | No | Yes | No | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | No | No | Yes |
| Bond | Yes | No | No | No | Yes |
| Options | Yes | No | No | No | Yes |
| Futures | Yes | No | No | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes |
#1 Interactive Brokers
Web trading platform
Interactive Brokers's web platform is simple and easy to use even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.3 stars | 4.3 stars | 3.5 stars |
| Desktop platform score | 3.0 stars | 3.8 stars | 4.4 stars | 3.0 stars | 3.0 stars |
#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 for advanced traders.
On the plus side, IB has a vast range of markets and products available, with diverse research tools and low costs.
There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard-to-understand, especially for beginners.
If you have experience navigating complex platforms and you like transparent low-cost trading, Interactive Brokers could be a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.3 stars |
| Recommended for | Traders looking for low fees and a professional trading environment |
#2 Best international online brokers for citizens in Aruba
Oanda
Oanda is an American forex broker founded in 1996.
It is considered safe because it has a long track record, discloses its financials, and is regulated by top-tier authorities, such as the US Retail Foreign Exchange Dealer (RFED) and the UK's Financial Conduct Authority (FCA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% 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 traders who value a user-friendly platform and great research tools
| Pros | Cons |
|---|---|
| • Generally low fees | • Only FX and some CFDs |
| • Easy-to-use web trading platform | • Poor customer service |
| • Easy and digital account opening | • High bank withdrawal fee |
#2 Oanda
Fees
Oanda charges low CFD and low forex fees. Non-trading fees are low, though the withdrawal fee is quite high for bank transfers.
| Pros | Cons |
|---|---|
| • Low trading fees | • High withdrawal fee for bank transfers |
| • Low forex fees | |
| • No withdrawal fee | |
| • No withdrawal fee in most cases |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| US stock | $1.0 | - | $10.0 | - | $1.5 |
| UK stock | $7.2 | - | $10.0 | - | $2.4 |
| EURUSD benchmark fee | $17.9 | $15.9 | $15.0 | $12.8 | $17.9 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#2 Oanda
Account opening
Oanda's account opening is straightforward, with no required minimum balance.
| Pros | Cons |
|---|---|
| • Fully digital | • Issues with ID verification can slow account opening |
| • No minimum deposit | |
| • Low minimum deposit |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $250 | $0 | $1,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#2 Oanda
Deposit and withdrawal
There is no deposit fee and you can conveniently use your debit card for deposit. While withdrawal is free in most cases, it is expensive for bank transfers, and it involves a fee if you withdraw to your card more than once a month.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • High withdrawal fee for bank transfers |
| • No deposit fee | |
| • Withdrawal is free for PayPal and for the first debit card transaction each month |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | Yes | No |
| Electronic wallets | No | Yes | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#2 Oanda
Markets and products
At Oanda you can trade only forex and CFDs. It offers fewer forex pairs but more CFDs than its closest competitors.
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | No | Yes | No | Yes |
| ETF | Yes | No | Yes | No | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | No | No | Yes |
| Bond | Yes | No | No | No | Yes |
| Options | Yes | No | No | No | Yes |
| Futures | Yes | No | No | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes |
#2 Oanda
Web trading platform
Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.3 stars | 4.3 stars | 3.5 stars |
| Desktop platform score | 3.0 stars | 3.8 stars | 4.4 stars | 3.0 stars | 3.0 stars |
#2 Oanda
Verdict
Oanda is a good forex broker: its fees are great, and it has a good web trading platform where you will quickly feel comfortable. It provides a user-friendly and fully digital account opening process, as well as powerful research tools, especially API.
On the other hand, Oanda has a limited product portfolio, as only forex and CFDs are available. Customer support is slow, and bank withdrawal fees can be high.
Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after two years.
| Oanda | |
|---|---|
| Summary | Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC. |
| Fees score | 4.5 stars |
| Recommended for | Forex traders who value a user-friendly platform and great research tools |
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#3 Best international online brokers for citizens in Aruba
XTB
XTB is a global CFD and forex broker with headquarters in London and Warsaw. The company is regulated by several financial authorities worldwide, including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF). XTB is listed on the Warsaw Stock Exchange.
XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| Pros | Cons |
|---|---|
| • Low forex and stock index CFD fees | • High fee for stock CFD |
| • Free and fast deposit and withdrawal | • Limited product portfolio, mostly CFD and FX |
| • Easy and fast account opening | • Poor email support |
#3 XTB
Fees
XTB has low trading fees and low non-trading fees. Within trading fees, there are low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High stock CFD fees |
| • Low non-trading fees | |
| • No withdrawal fee |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| US stock | $1.0 | - | $10.0 | - | $1.5 |
| UK stock | $7.2 | - | $10.0 | - | $2.4 |
| EURUSD benchmark fee | $17.9 | $15.9 | $15.0 | $12.8 | $17.9 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#3 XTB
Account opening
XTB's account opening process is hassle-free, fully digital and straightforward. Your account will be ready for trading on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $250 | $0 | $1,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#3 XTB
Deposit and withdrawal
XTB deposits and withdrawals are cost-friendly, fast, and can be done in several forms.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | Yes | No |
| Electronic wallets | No | Yes | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#3 XTB
Markets and products
XTB's product selection covers only CFDs, forex and crypto assets. Some European clients can also trade with real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | No | Yes | No | Yes |
| ETF | Yes | No | Yes | No | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | No | No | Yes |
| Bond | Yes | No | No | No | Yes |
| Options | Yes | No | No | No | Yes |
| Futures | Yes | No | No | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes |
#3 XTB
Web trading platform
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, a two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.3 stars | 4.3 stars | 3.5 stars |
| Desktop platform score | 3.0 stars | 3.8 stars | 4.4 stars | 3.0 stars | 3.0 stars |
#3 XTB
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA, and it is listed on the Warsaw Stock Exchange.
On the plus side, its forex and stock index CFD fees are low and the deposit and withdrawal process is free and fast. We also liked the seamless and hassle-free account opening process.
XTB has some drawbacks, though. The stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Lastly, its email support did not reply to our queries.
We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options and a fast account opening. Feel free to test it using a demo account.
| XTB | |
|---|---|
| Summary | XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA and Poland's KNF. |
| Fees score | 4.0 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
#4 Best international online brokers for citizens in Aruba
City Index
City Index was founded in 1983 and it is a global CFD and FX broker. City Index is the brand name of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by top-tier financial authorities, such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) or Monetary Authority of Singapore (MAS).
City Index is considered safe because it has a long track record, is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low forex fees and great research tools
| Pros | Cons |
|---|---|
| • Low fees for forex and index CFDs | • Limited product portfolio |
| • Fast and smooth account opening | • High stock CFD fees |
| • Diverse research tools | • Not user-friendly desktop platform |
#4 City Index
Fees
City Index has low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high and there is an inactivity fee.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • No withdrawal fee | • High stock CFD fee |
| • Low stock index CFD fees |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| US stock | $1.0 | - | $10.0 | - | $1.5 |
| UK stock | $7.2 | - | $10.0 | - | $2.4 |
| EURUSD benchmark fee | $17.9 | $15.9 | $15.0 | $12.8 | $17.9 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#4 City Index
Account opening
City Index account opening is fully digital and there is no minimum deposit. It took us one day to have an approved open account.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $250 | $0 | $1,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#4 City Index
Deposit and withdrawal
City Index provides multiple options for deposit and withdrawal and they are free of charge. However, the withdrawal with some credit cards is not possible.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Problem with credit card withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | Yes | No |
| Electronic wallets | No | Yes | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#4 City Index
Markets and products
At City Index, you can only trade with CFDs, forex, and cryptos. Unfortunately, real stocks, bonds and ETFs are not available.
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | No | Yes | No | Yes |
| ETF | Yes | No | Yes | No | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | No | No | Yes |
| Bond | Yes | No | No | No | Yes |
| Options | Yes | No | No | No | Yes |
| Futures | Yes | No | No | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes |
#4 City Index
Web trading platform
City Index's web trading platform is user-friendly and extremely customizable. It has also a lot of order types. On the flip side, there is no two-step login.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | |
| • Good variety of order types |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.3 stars | 4.3 stars | 3.5 stars |
| Desktop platform score | 3.0 stars | 3.8 stars | 4.4 stars | 3.0 stars | 3.0 stars |
#4 City Index
Verdict
City Index is a great CFD and forex broker regulated by top-tier financial authorities, such as the UK FCA.
On the bright side, it has low forex and stock index CFD fees, a smooth account opening process, and high-quality research tools.
It has some drawbacks though. The product portfolio is limited, the stock CFD fees are quite high, and the desktop platform is not easy-to-use.
As there is no minimum balance, no withdrawal fee and inactivity fee only kicks in after one year, feel free to try City Index out.
| City Index | |
|---|---|
| Summary | City Index is a global CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange. |
| Fees score | 4.1 stars |
| Recommended for | Forex and CFD traders looking for low forex fees and great research tools |
#5 Best international online brokers for citizens in Aruba
TradeStation Global
TradeStation Global is the brand of TradeStation International, which is based in the UK and regulated by the top-tier FCA. TradeStation International is the subsidiary of TradeStation, and an introducing broker of Interactive Brokers (IB).
Therefore, TradeStation Global is a combined product of TradeStation and IB. You can reach IB's markets almost at IB's fees. You can trade on both IB's and TradeStation's desktop platform. The customer service is by TradeStation.
Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on NASDAQ, TradeStation itself is not: only TradeStation's parent company Monex is listed on the Tokyo Stock Exchange.
Recommended for traders and investors looking for low fees and a wide selection of products
| Pros | Cons |
|---|---|
| • Low trading fees | • Not user-friendly deposit and withdrawal |
| • Wide range of products | • Complicated account opening |
| • Fast and relevant customer service | • Limited education materials |
#5 TradeStation Global
Fees
TradeStation Global has low trading fees, especially for stock and ETF. It's also great that there is no inactivity fee and the first withdrawal in each month is free of charge. On the other hand, mutual fund fees are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Low stock and ETF fees |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| US stock | $1.0 | - | $10.0 | - | $1.5 |
| UK stock | $7.2 | - | $10.0 | - | $2.4 |
| EURUSD benchmark fee | $17.9 | $15.9 | $15.0 | $12.8 | $17.9 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#5 TradeStation Global
Account opening
TradeStation Global's account opening is fully digital and fast. On the negative side, the process is complicated and there is a high, $1,000 minimum required deposit.
| Pros | Cons |
|---|---|
| • Fast | • Minimum deposit is higher than $500 |
| • Fully digital | • Not user-friendly |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $250 | $0 | $1,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1 day |
#5 TradeStation Global
Deposit and withdrawal
TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | • Not user-friendly |
| • No charge for the first withdrawal every month. |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | No | Yes | No |
| Electronic wallets | No | Yes | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#5 TradeStation Global
Markets and products
With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | No | Yes | No | Yes |
| ETF | Yes | No | Yes | No | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | No | No | Yes |
| Bond | Yes | No | No | No | Yes |
| Options | Yes | No | No | No | Yes |
| Futures | Yes | No | No | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes |
#5 TradeStation Global
Web trading platform
You can use Interactive Brokers' web trading platforms. Client Portal is simple and easy to use even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | • Difficult to set the alerts |
| • Two-step (safer) login |
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.3 stars | 4.3 stars | 3.5 stars |
| Desktop platform score | 3.0 stars | 3.8 stars | 4.4 stars | 3.0 stars | 3.0 stars |
#5 TradeStation Global
Verdict
TradeStation Global has low trading fees, has access to a lot of products and markets, and has great customer support. The TradeStation Global desktop platform has great charting tools, and plenty of indicators highly customizable watchlists (Radar Screen), and visualized order placing (Matrix).
On the other hand, the deposit and withdrawal process is not user-friendly and you can use only a bank transfer. The account opening is complicated and for full account verification, a minimum deposit of $1,000 is needed. Lastly, the education section could be extended with more materials, as of now, it is limited.
If you prefer low fees with IB's product range, feel free to try TradeStation Global.
| TradeStation Global | |
|---|---|
| Summary | TradeStation Global is an introducing broker of Interactive Brokers. It practically means that assets and cash are held with Interactive Brokers, but services, like the fees or customer support are provided by TradeStation Global. TradeStation Global is regulated by the top-tier UK FCA. |
| Fees score | 4.1 stars |
| Recommended for | Traders and investors looking for low fees and a wide selection of products |
Best international online brokers for citizens in Aruba
What makes a good online broker
Now you know the top 5. You are probably curious about how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
You can be sure none of them is a scam. They are regulated by top-tier authorities. Some of them are also listed on an exchange, while some have a banking background.
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 international online brokers for a citizen in Aruba?
At BrokerChooser, we test online brokers along more than 100 criteria, using real accounts and real money. We don’t want to overwhelm you, so for now we’ll just list the five most important criteria.
The five most important criteria for best international online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Account opening | Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require. |
| 3. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 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 international online brokers for citizens in Aruba
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2020 for citizens in Aruba:
| Interactive Brokers | Oanda | XTB | City Index | TradeStation Global | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.6 | 4.6 | 4.6 | 4.6 |
| Best in | Best online broker | Best mobile trading platform | Best CFD broker | Best broker for buy and hold | |
| Fees score | 4.3 stars | 4.5 stars | 4.0 stars | 4.1 stars | 4.1 stars |
| Account opening score | 3.4 stars | 4.4 stars | 5.0 stars | 5.0 stars | 2.8 stars |
| Deposit and withdrawal score | 2.5 stars | 4.2 stars | 4.5 stars | 4.0 stars | 2.5 stars |
| Markets and products score | 5.0 stars | 1.5 stars | 2.8 stars | 2.1 stars | 5.0 stars |
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.3 stars | 4.3 stars |
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73.5% of retail CFD accounts lose money |
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80% of retail CFD accounts lose money |
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71% of retail CFD accounts lose money |
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Interactive Brokers is our winner, the best international online broker in Aruba of 2020. Wide range of products. Many great research tools. Regulated by several authorities.
All of these brokers are considered a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best international broker for you, or learn more about investing your money.
