Best international online brokers for citizens in Belarus

To find the best international online brokers in Belarus, 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 Belarus:

1. Saxo Bank is the number one international online broker in 2020. Great trading platform. Outstanding research. Broad product portfolio.
2. Oanda is your runner-up. Generally low fees. Easy-to-use web trading platform. Easy and digital account opening.
3. XTB rounds out the top three. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
4. IG, numero quatro. First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
5. Pepperstone. Low forex and equity index CFD fees. Great customer service. Seamless and free deposit and withdrawal. Just made it to the list at number five.

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 Belarus one by one, starting with the winner, Saxo Bank.

Saxo Bank is a Danish investment bank founded in 1992, providing online trading and investments. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider. In the different regions, its subsidiaries are present in the form of separate legal entities. The services offered by each entity might change slightly especially in case of their fees and products available to trade. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, has a banking background, and is regulated by top-tier financial authorities.

Saxo stops accepting customers in the MENA region between May and August 2020. This is because of COVID-19 and the higher volume of account openings.

Recommended for investors and traders looking for a great trading platform and solid research

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#1 Saxo Bank
Fees

2.9

Saxo Bank has average trading and non-trading fees overall. The fees for forex, mutual funds and stock index CFDs are low, while they are average for real stocks, ETFs or stock CFDs. Bond, options and futures fees are high.

All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.

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#1 Saxo Bank
Account opening

2.6

Saxo's account opening is fully digital, user-friendly, and available in most of the world. On the other hand, the minimum deposit is high in certain countries, and account verification can take longer.

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#1 Saxo Bank
Deposit and withdrawal

4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.

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#1 Saxo Bank
Markets and products

5.0

Saxo Bank's product portfolio is great. It covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where its selection could be improved.

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#1 Saxo Bank
Web trading platform

4.5

Saxo Bank's web trading platform is one of the best among online brokers. It's easy to use, but also provides features favored by professionals, such as an advanced order panel. On the negative side, there is no two-step login.

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#1 Saxo Bank
Verdict

Saxo Bank is a great broker, providing a complex and good service.

Saxo offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly responding to the needs of clients.

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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

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73.5% of retail CFD accounts lose money

#2 Oanda
Fees

4.5

Oanda charges low CFD and low forex fees. Non-trading fees are low, though the withdrawal fee is quite high for bank transfers.

All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.

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73.5% of retail CFD accounts lose money

#2 Oanda
Account opening

4.4

Oanda's account opening is straightforward, with no required minimum balance.

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73.5% of retail CFD accounts lose money

#2 Oanda
Deposit and withdrawal

4.2

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.

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73.5% of retail CFD accounts lose money

#2 Oanda
Markets and products

1.5

At Oanda you can trade only forex and CFDs. It offers fewer forex pairs but more CFDs than its closest competitors.

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73.5% of retail CFD accounts lose money

#2 Oanda
Web trading platform

4.5

Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.

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73.5% of retail CFD accounts lose money

#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.

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73.5% of retail CFD accounts lose money

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

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80% of retail CFD accounts lose money

#3 XTB
Fees

4.0

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.

All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.

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80% of retail CFD accounts lose money

#3 XTB
Account opening

5.0

XTB's account opening process is hassle-free, fully digital and straightforward. Your account will be ready for trading on the same day.

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80% of retail CFD accounts lose money

#3 XTB
Deposit and withdrawal

4.5

XTB deposits and withdrawals are cost-friendly, fast, and can be done in several forms.

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80% of retail CFD accounts lose money

#3 XTB
Markets and products

2.8

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.

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80% of retail CFD accounts lose money

#3 XTB
Web trading platform

4.4

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.

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80% of retail CFD accounts lose money

#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.

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80% of retail CFD accounts lose money

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the Financial Conduct Authority (FCA) and the Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

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. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

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76% of retail CFD accounts lose money

#4 IG
Fees

3.3

IG has low fees for stock index CFD, while forex fees are average to low. There is no fee for withdrawal and the inactivity fee is charged only after 2 years. On the negative side, the stock CFD fees are high.

All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.

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76% of retail CFD accounts lose money

#4 IG
Account opening

4.4

IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.

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76% of retail CFD accounts lose money

#4 IG
Deposit and withdrawal

4.5

IG offers free and fast deposit and withdrawal. There are various options for funding your account, including traditional methods such as bank wire and credit card funding, as well as PayPal.

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76% of retail CFD accounts lose money

#4 IG
Markets and products

3.2

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real shares. Other popular assets, like mutual funds or bonds, are not available.

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76% of retail CFD accounts lose money

#4 IG
Web trading platform

5.0

IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.

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76% of retail CFD accounts lose money

#4 IG
Verdict

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.

IG has one of the best web trading platforms Brokerchooser tested. The deposit and withdrawal conditions are great. You can also educate yourself with great educational materials.

On the other hand, there are some drawbacks. The stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs, and options. The phone customer service has also low quality.

Feel free to test IG's first-class trading platform since there is no minimum funding amount for bank transfers and you can easily open a demo account too. 

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76% of retail CFD accounts lose money

Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients.

Pepperstone is considered safe since it's regulated by two top-tier financial authorities, the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.5% 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 looking for low fees and good customer service

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76.5% of retail CFD accounts lose money

#5 Pepperstone
Fees

4.3

Pepperstone has low forex and equity index fees. Non-trading fees are low as well, as no inactivity or account fee is charged. On the negative side, CFD financing rates, i.e. fees for holding CFD positions overnight, are high.

All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.

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76.5% of retail CFD accounts lose money

#5 Pepperstone
Account opening

5.0

Pepperstone's account opening is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.

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76.5% of retail CFD accounts lose money

#5 Pepperstone
Deposit and withdrawal

4.8

Pepperstone provides plenty of options for deposit and withdrawal, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.

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76.5% of retail CFD accounts lose money

#5 Pepperstone
Markets and products

1.8

At Pepperstone you can only trade with forex, some CFDs, and cryptos.

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76.5% of retail CFD accounts lose money

#5 Pepperstone
Web trading platform

2.8

Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.

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76.5% of retail CFD accounts lose money

#5 Pepperstone
Verdict

Pepperstone is a great forex broker, regulated by the top-tier FCA and ASIC.

Forex and equity index fees are low. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.

On the other hand, Pepperstone provides only forex, CFDs and cryptos to trade with. There are no fundamental research tools, and the quality of news feeds is poor. Lastly, there is no investor protection for non-EU clients.

Feel free to try Pepperstone since there is no inactivity fee or minimum deposit for standard accounts.

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76.5% of retail CFD accounts lose money

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 Belarus?

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:

You saw the details, now let's zoom out. Here are the best international online brokers of 2020 for citizens in Belarus:

Saxo Bank is our winner, the best international online broker in Belarus of 2020. Great trading platform. Outstanding research. Broad product portfolio.
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.