To help you find the best online brokers in 2021, we went ahead and did the research for you. First, we selected 94 quality online brokers, then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and much much more. To be selected best online broker, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.
5 brokers made it to the top in Ecuador. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for best international online broker of 2021 for citizens in Ecuador:
- Interactive Brokers is the best international online broker in 2021. Low trading fees. Wide range of products. Many great research tools.
- Saxo Bank takes second place. Great trading platform. Outstanding research. Broad product portfolio.
- tastyworks rounds out the top three. Low trading fees. Great educational materials. Good research tools.
- eToro, numero quattro. Free stock and ETF trading. Seamless account opening. Social trading experience.
- XTB just made it to the list at in fifth place. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | International broker providing all asset classes | 4.9 | Best online broker |
| #2 | Saxo Bank | Danish investment bank | 4.8 | Best forex broker |
| #3 | tastyworks | US options and stockbroker | 4.7 | Best broker for options |
| #4 | eToro | Global social trading broker | 4.6 | Best broker for cryptos |
| #5 | XTB | Global CFD and forex broker | 4.7 | Best CFD broker |
What makes a good online broker? Surely, they need to provide great service in all areas. First of all, they need to offer fair fees and have a good safety score. Opening an account and depositing money should also be user-friendly processes. They need to provide access to a wide range of products and have a great platform.
These features are easy to list, but hard to figure out. We test brokers based on more than ~300 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with our in-depth comparison table.
And now, let's see the best international online brokers in 2021 for citizens in Ecuador one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Ecuador
Interactive Brokers
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 |
#1 Interactive Brokers
Fees
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 | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.0 | $0.0 | $10.0 |
| UK stock | $4.2 | $11.2 | - | $0.0 | $12.0 |
| EURUSD benchmark fee | $10.7 | $7.8 | - | $8.7 | $8.5 |
| AUDUSD benchmark fee | $8.6 | $6.2 | - | $6.7 | $5.8 |
| GBPUSD benchmark fee | $8.6 | $5.7 | - | $7.5 | $5.8 |
| S&P 500 index CFD fee | $2.8 | $1.4 | - | $1.7 | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | - | $2.9 | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#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 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 | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $200 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
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 | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $5 | $0 |
#1 Interactive Brokers
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | No | No | No |
| Bonds | Yes | Yes | No | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | No | Yes | Yes |
#1 Interactive Brokers
Web trading platform
Interactive Brokers' web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
| Pros | Cons |
|---|---|
| • User-friendly | • User experience could be better |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 5.0 stars | 3.4 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.2 stars | 4.7 stars | 4.4 stars |
| Desktop platform score | 3.8 stars | 5.0 stars | 3.9 stars | - | 4.4 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 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 |
#2 Best international online brokers for citizens in Ecuador
Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. 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 and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.
Recommended for investors and traders looking for a great trading platform and solid research
| Pros | Cons |
|---|---|
| • Great trading platform | • High bond, options and futures fees |
| • Outstanding research | • High minimum deposit |
| • Broad product portfolio | • Lacks live chat and 24/7 availability |
#2 Saxo Bank
Fees
Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low fund fees | • High bond, options and futures fees |
| • No withdrawal fee |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.0 | $0.0 | $10.0 |
| UK stock | $4.2 | $11.2 | - | $0.0 | $12.0 |
| EURUSD benchmark fee | $10.7 | $7.8 | - | $8.7 | $8.5 |
| AUDUSD benchmark fee | $8.6 | $6.2 | - | $6.7 | $5.8 |
| GBPUSD benchmark fee | $8.6 | $5.7 | - | $7.5 | $5.8 |
| S&P 500 index CFD fee | $2.8 | $1.4 | - | $1.7 | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | - | $2.9 | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#2 Saxo Bank
Account opening
Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
| Pros | Cons |
|---|---|
| • Fully digital | • Minimum deposit is high in certain countries |
| • User-friendly | • Slow account verification |
| • Available in almost every country |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $200 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#2 Saxo Bank
Deposit and withdrawal
Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Electronic wallets not available for deposit or withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $5 | $0 |
#2 Saxo Bank
Markets and products
Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds are the only areas where the selection could be improved.
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | No | No | No |
| Bonds | Yes | Yes | No | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | No | Yes | Yes |
#2 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 5.0 stars | 3.4 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.2 stars | 4.7 stars | 4.4 stars |
| Desktop platform score | 3.8 stars | 5.0 stars | 3.9 stars | - | 4.4 stars |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It 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 adapted to the needs of clients.
| Saxo Bank | |
|---|---|
| Summary | Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA. |
| Fees score | 3.3 stars |
| Recommended for | Investors and traders looking for a great trading platform and solid research |
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#3 Best international online brokers for citizens in Ecuador
tastyworks
tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients.
The people behind tastyworks are the same experts who built thinkorswim, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Limited product selection |
| • Great educational materials | • Few deposit and withdrawal options |
| • Good research tools | • No demo account |
#3 tastyworks
Fees
tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee for bank (wire) transfers |
| • Low stock and ETF fees / Free stock trading | |
| • No inactivity fee |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.0 | $0.0 | $10.0 |
| UK stock | $4.2 | $11.2 | - | $0.0 | $12.0 |
| EURUSD benchmark fee | $10.7 | $7.8 | - | $8.7 | $8.5 |
| AUDUSD benchmark fee | $8.6 | $6.2 | - | $6.7 | $5.8 |
| GBPUSD benchmark fee | $8.6 | $5.7 | - | $7.5 | $5.8 |
| S&P 500 index CFD fee | $2.8 | $1.4 | - | $1.7 | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | - | $2.9 | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#3 tastyworks
Account opening
tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $200 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#3 tastyworks
Deposit and withdrawal
tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • Only one account base currency |
| • Free ACH withdrawals in the US | • High fee for wire withdrawals |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $5 | $0 |
#3 tastyworks
Markets and products
At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | No | No | No |
| Bonds | Yes | Yes | No | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | No | Yes | Yes |
#3 tastyworks
Web trading platform
The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
| Pros | Cons |
|---|---|
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Price alerts | • Not suited for beginners |
| • Two-step (safer) authentication for certain functions |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 5.0 stars | 3.4 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.2 stars | 4.7 stars | 4.4 stars |
| Desktop platform score | 3.8 stars | 5.0 stars | 3.9 stars | - | 4.4 stars |
#3 tastyworks
Verdict
tastyworks is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastyworks's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you should feel free to try it.
| tastyworks | |
|---|---|
| Summary | tastyworks is a recently established US options and stockbroker. It is overseen by FINRA, a top-tier regulatory body. |
| Fees score | 4.5 stars |
| Recommended for | Options and futures traders focusing on US markets |
#4 Best international online brokers for citizens in Ecuador
eToro
eToro review summary
eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.
eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).
eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.
eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech company.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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 eToro rating
Compare this broker to the best eToro alternative.
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High non-trading fees |
| • Seamless account opening | • Only one account base currency |
| • Social trading experience | • Customer support could be improved |
#4 eToro
Fees
eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • High non-trading fees |
| • Free stock and ETF trading | |
| • Low forex and CFD fees |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.0 | $0.0 | $10.0 |
| UK stock | $4.2 | $11.2 | - | $0.0 | $12.0 |
| EURUSD benchmark fee | $10.7 | $7.8 | - | $8.7 | $8.5 |
| AUDUSD benchmark fee | $8.6 | $6.2 | - | $6.7 | $5.8 |
| GBPUSD benchmark fee | $8.6 | $5.7 | - | $7.5 | $5.8 |
| S&P 500 index CFD fee | $2.8 | $1.4 | - | $1.7 | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | - | $2.9 | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#4 eToro
Account opening
Account opening at eToro is seamless and very fast.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $200 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#4 eToro
Deposit and withdrawal
Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Only one account base currency |
| • No deposit fee | • $5 withdrawal fee |
| • User-friendly | • Conversion fee for non-USD deposits |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $5 | $0 |
#4 eToro
Markets and products
At eToro, you can trade CFDs and forex, as well as real stocks, ETFs and many cryptos. Innovative services like social trading and CopyPortfolio are also available.
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | No | No | No |
| Bonds | Yes | Yes | No | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | No | Yes | Yes |
#4 eToro
Web trading platform
eToro offers a user-friendly and well-designed web trading platform. Social trading is available, too. On the other hand, customizability is limited.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 5.0 stars | 3.4 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.2 stars | 4.7 stars | 4.4 stars |
| Desktop platform score | 3.8 stars | 5.0 stars | 3.9 stars | - | 4.4 stars |
#4 eToro
Verdict
How eToro works? eToro offers zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders.
It has some drawbacks, though. Non-trading fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.
So is eToro good? Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.
Risk disclaimer
eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
| eToro | |
|---|---|
| Summary | eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC. |
| Fees score | 4.4 stars |
| Recommended for | Traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading |
#5 Best international online brokers for citizens in Ecuador
XTB
XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.
XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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 fees | • High fees for stock CFDs |
| • Free and fast deposit and withdrawal | • Product portfolio limited mostly to CFDs and FX |
| • Easy and fast account opening | • Limited fundamental data |
#5 XTB
Fees
XTB has low forex fees and there is no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
| Pros | Cons |
|---|---|
| • Low forex fees | • High stock CFD fees |
| • Free withdrawal for transfers above $100 |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $0.0 | $0.0 | $10.0 |
| UK stock | $4.2 | $11.2 | - | $0.0 | $12.0 |
| EURUSD benchmark fee | $10.7 | $7.8 | - | $8.7 | $8.5 |
| AUDUSD benchmark fee | $8.6 | $6.2 | - | $6.7 | $5.8 |
| GBPUSD benchmark fee | $8.6 | $5.7 | - | $7.5 | $5.8 |
| S&P 500 index CFD fee | $2.8 | $1.4 | - | $1.7 | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | - | $2.9 | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#5 XTB
Account opening
XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $200 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | 1 day | 1 day |
#5 XTB
Deposit and withdrawal
XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few minor account currencies accepted |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $5 | $0 |
#5 XTB
Markets and products
XTB's default selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular assets like bonds, mutual funds, options or futures are not available.
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | No | No | No |
| Bonds | Yes | Yes | No | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | No | Yes | Yes |
#5 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, two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 5.0 stars | 3.4 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.2 stars | 4.7 stars | 4.4 stars |
| Desktop platform score | 3.8 stars | 5.0 stars | 3.9 stars | - | 4.4 stars |
#5 XTB
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.
On the plus side, its forex fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.
XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.
We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with 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, Poland's KNF, and Cyprus's CySec. |
| Fees score | 3.8 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
Best international online brokers for citizens in Ecuador
What makes a good online broker
Now that you know the top 5, you are probably curious 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 characters in the movie 'Wolf of Wall Street'. They were constantly monitoring stock prices while holding the phone and shouting. The Internet changed all that. Nowadays, if you want to invest in Apple shares, you open an online account, deposit money, and set up an order on the brokers' online platform. These platforms are the online brokers. Online brokers help you buy and sell securities like stocks and ETFs. After creating your order, the online broker executes it immediately. It all takes place online.
Are these brokers safe?
We consider each broker on our list safe. You can be sure none of them is a scam. All the brokers featured on BrokerChooser are regulated by at least one authority.
However, brokerage companies can still go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens with your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.
If all goes wrong, 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 online brokers?
At BrokerChooser, we test online brokers based on more than ~300 criteria, with real accounts and real money. We don\'t want to overwhelm you, so we will list the five most important criteria.
| 1. Fees | The trading fees of a typical US equity trade can be 50 times higher at one online broker compared to another. It's definitely worth checking these fees. |
| 2. Account opening | Some online brokers require a minimum deposint to start investing while others don't ask for a fix first-time deposit. Check these reuirements at the best online brokers. |
| 3. Deposit and withdrawal | At some online brokers, funding and withdrawing funds can take 5 times longer and be much more expensive than at others. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 4. Markets and products | You want to invest in Amazon or trade Bitcoin? They might not be available. Check the product lineup before opening an account. |
Best international online brokers for citizens in Ecuador
Bottom line
These were the details, now let's zoom out. Here are the best international online brokers of 2021 for citizens in Ecuador:
| Interactive Brokers | Saxo Bank | tastyworks | eToro | XTB | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.8 | 4.7 | 4.6 | 4.7 |
| Best in | Best online broker | Best forex broker | Best broker for options | Best broker for cryptos | Best CFD broker |
| Fees score | 4.5 stars | 3.3 stars | 4.5 stars | 4.4 stars | 3.8 stars |
| Account opening score | 3.4 stars | 2.5 stars | 5.0 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 3.0 stars | 4.8 stars | 1.9 stars | 3.5 stars | 4.5 stars |
| Markets and products score | 5.0 stars | 5.0 stars | 2.6 stars | 3.8 stars | 2.8 stars |
| Web platform score | 4.0 stars | 5.0 stars | 3.4 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 4.2 stars | 4.7 stars | 4.4 stars |
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Interactive Brokers is our winner, the best international online broker in Ecuador for 2021. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered safe and 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 comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with the help of our in-depth comparison table.
