To find the best international online brokers in Ecuador, we went ahead and did the research for you. After testing, analyzing and comparing 20 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 2019 for citizens in Ecuador:
- Interactive Brokers is the number one international online broker in 2019. Broad product portfolio. Low fees. Great and diverse research tools.
- Saxo Bank, place two. Outstanding research. Great trading platform. Broad product portfolio.
- Swissquote. Extensive market and product access. High investor protection amount. Digital account opening. Third place.
- XTB, numero quatro. Fast deposit and withdrawal. Fast and user-friendly account opening. Good research tools.
- Tastyworks. Low options trading fees. Great education materials. Very good customer service. Just made it to the list with being number five.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.8 | Best online broker |
| #2 | Saxo Bank | Danish investment bank | 4.5 | Best trading platform |
| #3 | Swissquote | Swiss investment bank | 4.5 | Best for funds |
| #4 | XTB | Global CFD and FX broker | 4.5 | Best CFD broker |
| #5 | Tastyworks | US options and stockbroker | 4.5 | Best for options |
All 5 brokers are considered safe. They are regulated by top-tier financial regulators.
What makes a good online broker? They need to offer fair fees. It must also be easy to open an account and deposit. 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.
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.
Boring, but important stuff: Some of the brokers portfolio might contain CFD products. CFDs are complex and very risky, thus not suitable for everyone. You can easily lose all of your invested money. If you don't have clue what a CFD is, start with these CFD trading tips
And now, let's see the best international online brokers for Ecuador in 2019 one by one. Starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Ecuador
Interactive Brokers
4.8
5 stars
Best online broker
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 advanced traders preferring low fees and can cope with a complicated trading platform.
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Funding and withdrawal only through bank transfer
- Complicated account opening process
- Not user-friendly and complicated desktop trading platform
#1 Interactive Brokers
Fees
4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Low trading fees
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $5.2 |
| Vodafone benchmark fee | $17.9 | $23.7 | $73.0 | $24.4 | - |
| EURUSD benchmark fee | $23.0 | $63.9 | $18.9 | $17.1 | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#1 Interactive Brokers
Account opening
3 stars
The account opening process is fully digital, but slow, and complicated.
- Account opening fully digital
- No minimum deposit for most accounts
- Slow account opening
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#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 flip side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal every month
- Credit/Debit card deposit and withdrawal not available
- Lengthy funding and withdrawal - over 3 days
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $45 |
#1 Interactive Brokers
Markets and products
5 stars
At Interactive Brokers you can reach the most markets and trade with all product types. IB has the widest offering.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | No | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#1 Interactive Brokers
Web trading platform
4 stars
Interactive Brokers' web platform is simple and easy to use. Even beginners can easily get around. On the flip side, it can't be well-customized.
- User-friendly
- Clear fee report
- Two-step (safe) login
- Limited customizability (for chart, for workspace)
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#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.
#2 Best international online brokers for citizens in Ecuador
Saxo Bank
4.5
5 stars
Best trading platform
Saxo Bank is a Danish investment bank providing online trading and investments. It is a leading European retail brokerage innovator. Saxo is privately owned, established in 1992, and headquartered in Copenhagen.
Saxo is considered safe as it is regulated worldwide by more than 10 financial regulators, including top-tier regulators, like the UK FCA.
Recommended for investors aiming for a great trading platform and research.
- Outstanding research
- Great trading platform
- Broad product portfolio
- $2,000 minimum funding requirement
- High fees
- Missing live chat
#2 Saxo Bank
Fees
2 stars
Saxo Bank has high trading fees and average non-trading fees. There is a $100 inactivity fee if you don't trade for 6 months.
- No withdrawal fee
- Transparent fee structure
- High trading fees
- Inactivity fee
- High financing rate
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $5.2 |
| Vodafone benchmark fee | $17.9 | $23.7 | $73.0 | $24.4 | - |
| EURUSD benchmark fee | $23.0 | $63.9 | $18.9 | $17.1 | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#2 Saxo Bank
Account opening
3 stars
Account opening is available for almost all residents and is fully digital. However, a $2,000 minimum funding is required.
- Fast account opening
- Account opening fully digital
- Available for almost all residents
- Sales team pushy
- $2,000 minimum funding requirement
- Only single currency account available at classic accounts
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#2 Saxo Bank
Deposit and withdrawal
5 stars
Saxo provides multiple deposit and withdraw options free of charge on a user-friendly interface.
- Free withdrawal
- Free deposit
- Several account base currencies
- Credit/Debit card deposit and withdrawal not available
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $45 |
#2 Saxo Bank
Markets and products
4 stars
At Saxo Bank you can reach many markets and trade with a lot of different products except for funds.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | No | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#2 Saxo Bank
Web trading platform
5 stars
Saxo Bank's web trading platform is easy-to-use and well-designed. However, it doesn't provide a two-step login and the customizability is limited.
- User-friendly
- Good search function
- Looks nice
- No two-step (safe) login
- Limited customizability (for chart, for workspace)
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It has one of the best trading platforms backed by a great research and customer service. The product portfolio is covering all important international markets and asset classes.
It has some drawbacks though. It hardly supports investors and traders with a smaller wallet to invest: the Saxo Bank $2,000 minimum deposit is a bit high. Fees are high and live chat is missing.
In general, Saxo Bank is one of the best online brokerage companies a European customer can choose. By opening an account, you end up with a broad, well-developed service.
#3 Best international online brokers for citizens in Ecuador
Swissquote
4.5
5 stars
Best for funds
Swissquote is a Swiss investment bank, established in 1996. It has two main arms:
The Swiss arm for stocks, funds, options, and futures
The UK arm for CFDs, and FX
Formally, Swissquote Bank Ltd is based in Switzerland and regulated by FINMA, the Swiss financial regulator. This one offers stocks, funds, bonds, futures and options. The other, Swissquote Ltd is UK based, regulated by the FCA, the UK financial regulator, and offers CFDs and FX.
Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, and discloses detailed financials regularly.
For clarity, we will call the Switzerland Swissquote for stocks "Swissquote (CH)", and the UK Swissquote for CFDs and FX "SwissquoteForex (UK)".
Recommended for affluent investors valuing safety and being ok with higher fees.
- Extensive market and product access
- High investor protection amount
- Digital account opening
- High trading fees
- Overcomplicated trading platform
- Better part of the research not free
#3 Swissquote
Fees
2 stars
Swissquote has high trading fees and average non-trading fees. As a plus, there is no inactivity fee.
- No inactivity fee
- High trading fees
- Withdrawal fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $5.2 |
| Vodafone benchmark fee | $17.9 | $23.7 | $73.0 | $24.4 | - |
| EURUSD benchmark fee | $23.0 | $63.9 | $18.9 | $17.1 | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#3 Swissquote
Account opening
5 stars
Swissquote offers a fast, easy, and fully digital account opening. Also, there is no minimum account balance requirement.
- Fast account opening
- Account opening fully digital
- No minimum account balance
- Video identification of documents may not be available for some locations
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#3 Swissquote
Deposit and withdrawal
4 stars
The depsoit is fast and user-friendly. On the flip side, you can only withdraw by bank transfer.
- Free deposit
- Several account base currencies
- Credit/Debit card deposit
- Credit card withdrawal is not available
- Withdrawal is not user-friendly
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $45 |
#3 Swissquote
Markets and products
4 stars
At Swissquote(CH) you can reach many markets and trade with a lot of different product types. At SwissquoteForex (UK) you can trade only Forex and some CFDs.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | No | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#3 Swissquote
Web trading platform
3 stars
The Swissquote (CH) platform has a lot of functions, even too many. It can get complicated. SwissquoteForex (UK)' MetaTrader 4 is a well thought out platform.
- Two-step (safe) login
- Price alerts available
- Available in more languages
- Bad search function
- Limited order types
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#3 Swissquote
Verdict
Swissquote has a rock solid background. It is Swiss, it is listed, it is a bank. It has two entities, one in the UK and one in Switzerland. If you open an account at the London-based entity, you can trade with forex and CFDs, while the Swiss entity gives you access to a wide range of asset classes from stocks to options.
Swissquote has an easy and fast account opening. We really liked its market and product coverage. There are lot of stocks, mutual funds, and a lot of different type of products from bonds to cryptos.
However, nothing comes for free. The trading fees are relatively high.
All in all, Swissquote is a great provider. As there is no minimum deposit requirements and no inactivity fee, feel free to try it out.
#4 Best international online brokers for citizens in Ecuador
XTB
4.5
5 stars
Best CFD broker
XTB is primarily a forex and CFD broker and in some countries, you can also trade with real stocks. XTB is a global broker, it has more than ten offices worldwide. In Europe, it serves clients by a 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. It discloses its financials regularly. XTB is authorized and regulated by different regulators, including top-tier regulator, the FCA.
XTB is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by a top-tier regulator.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In the UK, 79%, while in the rest of Europe 82% 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 quick deposit and withdrawal, and advanced research tools.
- Fast deposit and withdrawal
- Fast and user-friendly account opening
- Good research tools
- Limited product portfolio, mostly CFD and FX
- Sales team can be pushy
- Missing 24/7 customer support
#4 XTB
Fees
4 stars
XTB has average trading fees and low non-trading fees.
- Low non-trading fees
- No withdrawal fee
- No inactivity fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $5.2 |
| Vodafone benchmark fee | $17.9 | $23.7 | $73.0 | $24.4 | - |
| EURUSD benchmark fee | $23.0 | $63.9 | $18.9 | $17.1 | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#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.
- Fast account opening
- Account opening fully digital
- User-friendly
- Sales team pushy
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#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.
- Credit/Debit card deposit and withdrawal available
- Speedy funding and withdrawal -within 3 days
- User-friendly
- High fees for electronic wallets deposit
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $45 |
#4 XTB
Markets and products
2 stars
UK, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with real shares and ETFs.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | No | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#4 XTB
Web trading platform
4 stars
XTB's xStation 5 platform is user-friendly, can be customized, and a have good search function. On the flip side, we missed the two-step login, the leverage setting option, and the more sophisticated order types.
- User-friendly
- Good search function
- Good customizability (for chart, for workspace)
- No two-step (safe) login
- Limited order types
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#4 XTB
Verdict
XTB is a good broker. It is regulated by more than 10 authorities globally, including the top-tier FCA and it is listed on the Warsaw Stock Exchange.
On the plus side, deposit and withdrawal are 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 real stocks too 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 preferring forex and CFD trading and aim for a fast account opening, cheap money withdrawal, and great research tools. Feel free to test it even via the demo account.
#5 Best international online brokers for citizens in Ecuador
Tastyworks
4.5
5 stars
Best for options
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 options and stock traders focusing on the US.
- Low options trading fees
- Great education materials
- Very good customer service
- Only US options, futures, and stocks
- Can be intimidating for beginners
- Trading platforms have some bugs
#5 Tastyworks
Fees
4 stars
tastyworks has low trading fees and average non-trading fees. Its options fees are very low as well.
- Low trading fees
- No inactivity fee
- Transparent fee structure
- Withdrawal fee
- High financing rate
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $5.2 |
| Vodafone benchmark fee | $17.9 | $23.7 | $73.0 | $24.4 | - |
| EURUSD benchmark fee | $23.0 | $63.9 | $18.9 | $17.1 | - |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#5 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.
- Account opening fully digital
- No minimum account balance
- User-friendly
- Can take 3 business days
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#5 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.
- Free deposit
- User-friendly
- Credit/Debit card deposit and withdrawal not available
- High withdrawal fee
- Only one account base currency
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $45 |
#5 Tastyworks
Markets and products
1 stars
At tastyworks you can trade with US stocks, ETFs, options, and some futures.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | No | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | No |
#5 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.
- Clear fee report
- Good search function
- Great options trading panel with embedded strategies
- Limited customizability (for chart, for workspace)
- Can be intimidating for beginners
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#5 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.
Best international online brokers for citizens in Ecuador
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?
Yes, they are considered safe. You can be sure none of them is a scam. They are regulated by top-tier regulators. Some of them are also listed on an exchange, and 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 Ecuador?
At Brokerchooser we test online brokers along ~100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria.
The 5 most important criteria for 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-friendlyAand well-equipped trading platform can significantly increase your trading comfort. |
Best international online brokers for citizens in Ecuador
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2019 for citizens in Ecuador:
| Interactive Brokers | Saxo Bank | Swissquote | XTB | Tastyworks | |
|---|---|---|---|---|---|
| Overall score | 4.8 | 4.5 | 4.5 | 4.5 | 4.5 |
| Award | Best online broker | Best trading platform | Best for funds | Best CFD broker | Best for options |
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Markets and products score | |||||
| Web platform score | |||||
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Interactive Brokers is our winner, the best in 2019.
Broad product portfolio. Low fees. Great and diverse research tools.
All brokers are considered safe, and a great choice. Pick the winner, or any runner-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 broker for you.
