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Best international online brokers for citizens in Eritrea

Interactive Brokers
4.9
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XTB
4.6
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75% of retail CFD accounts lose money
TradeStation Global
4.5
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Interactive Brokers
4.9
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XTB
4.6
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75% of retail CFD accounts lose money
TradeStation Global
4.5
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Best international online brokers for citizens in Eritrea

To find the best international online brokers in Eritrea, we went ahead and did the research for you. After testing, analyzing and comparing 57 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 Eritrea:

  1. Interactive Brokers is the number one international online broker in 2020. Wide range of products. Many great research tools. Regulated by several authorities.
  2. XTB in the second place. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
  3. TradeStation Global rounded out the top three. Low trading fees. Wide range of products. Fast and relevant customer service.
  4. XM, numero quatro. Low CFD and withdrawal fees. Easy and fast account opening. Great educational tools.
  5. ATFX. Low fees. Fast and easy account opening. Multiple deposit and withdrawal options for free. Just made it to the list with being number five.
Best international online brokers of 2020 for citizens in Eritrea
Broker Info Score Best in
#1 Interactive Brokers US discount broker 4.9 Best online broker
#2 XTB Global CFD and forex broker 4.6 Best CFD broker
#3 TradeStation Global UK-based global broker 4.5 Best broker for buy and hold
#4 XM Global CFD and forex broker 4.4
#5 ATFX Global CFD and forex broker 4.4

What makes a good online broker? First of all, they need to offer fair fees and to have a good safety score. It must also be easy to open an account and deposit money. They should give access to many products and need to have a great platform.

Easy to list, but hard to figure it out. We are testing brokers more than 100 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? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best international online brokers in 2020 for citizens in Eritrea one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best international online brokers for citizens in Eritrea
Interactive Brokers

4.9

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 Funding and withdrawal only via bank transfer

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#1 Interactive Brokers
Fees
4.0

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 fees
Interactive Brokers XTB TradeStation Global XM ATFX
US stock $1.0 $10.0 $1.5 $0.0 -
UK stock $7.2 $10.0 $2.4 - -
EURUSD benchmark fee $17.9 $15.0 $17.9 $17.1 $10.5

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

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#1 Interactive Brokers
Account opening
3.0

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 minimum deposit and time to open an account
Interactive Brokers XTB TradeStation Global XM ATFX
Minimum deposit $0 $250 $1,000 $5 $500
Time to open account 1-3 days 1 day 1 day 1 day 1 day

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#1 Interactive Brokers
Deposit and withdrawal
3.0

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 withdrawal fee and options
Interactive Brokers XTB TradeStation Global XM ATFX
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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#1 Interactive Brokers
Markets and products
5.0

Through Interactive Brokers you can access an extremely wide range of markets, with every product type available.
Interactive Brokers markets and products
Interactive Brokers XTB TradeStation Global XM ATFX
Stock Yes Yes Yes Yes No
ETF Yes Yes Yes No No
Forex Yes Yes Yes Yes Yes
Fund Yes No Yes No No
Bond Yes No Yes No No
Options Yes No Yes No No
Futures Yes No Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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#1 Interactive Brokers
Web trading platform
4.0

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
Best international online brokers for citizens in Eritrea - Interactive Brokers trading platform
Interactive Brokers trading platforms
Interactive Brokers XTB TradeStation Global XM ATFX
Web platform score 4.0 4.0 4.0 3.0 3.0
Mobile platform score 4.0 4.0 4.0 4.0 4.0
Desktop platform score 3.0 4.0 3.0 3.0 3.0

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#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: you can only fund your account via wire transfer 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 4.0
Recommended for Traders looking for low fees and a professional trading environment

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XTB Logo

#2 Best international online brokers for citizens in Eritrea
XTB

4.6

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. 75% 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

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75% of retail CFD accounts lose money

#2 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.
Pros Cons
Low trading fees High stock CFD fees
Low non-trading fees
No withdrawal fee
XTB fees
Interactive Brokers XTB TradeStation Global XM ATFX
US stock $1.0 $10.0 $1.5 $0.0 -
UK stock $7.2 $10.0 $2.4 - -
EURUSD benchmark fee $17.9 $15.0 $17.9 $17.1 $10.5

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

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75% of retail CFD accounts lose money

#2 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.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XTB minimum deposit and time to open an account
Interactive Brokers XTB TradeStation Global XM ATFX
Minimum deposit $0 $250 $1,000 $5 $500
Time to open account 1-3 days 1 day 1 day 1 day 1 day

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75% of retail CFD accounts lose money

#2 XTB
Deposit and withdrawal
5.0

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
XTB withdrawal fee and options
Interactive Brokers XTB TradeStation Global XM ATFX
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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75% of retail CFD accounts lose money

#2 XTB
Markets and products
3.0

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

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75% of retail CFD accounts lose money

#2 XTB
Web trading platform
4.0

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
Best international online brokers for citizens in Eritrea - XTB trading platform
XTB trading platforms
Interactive Brokers XTB TradeStation Global XM ATFX
Web platform score 4.0 4.0 4.0 3.0 3.0
Mobile platform score 4.0 4.0 4.0 4.0 4.0
Desktop platform score 3.0 4.0 3.0 3.0 3.0

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75% of retail CFD accounts lose money

#2 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
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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75% of retail CFD accounts lose money

TradeStation Global Logo

#3 Best international online brokers for citizens in Eritrea
TradeStation Global

4.5

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, while 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 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

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#3 TradeStation Global
Fees
4.0

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
TradeStation Global fees
Interactive Brokers XTB TradeStation Global XM ATFX
US stock $1.0 $10.0 $1.5 $0.0 -
UK stock $7.2 $10.0 $2.4 - -
EURUSD benchmark fee $17.9 $15.0 $17.9 $17.1 $10.5

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

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#3 TradeStation Global
Account opening
3.0

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
TradeStation Global minimum deposit and time to open an account
Interactive Brokers XTB TradeStation Global XM ATFX
Minimum deposit $0 $250 $1,000 $5 $500
Time to open account 1-3 days 1 day 1 day 1 day 1 day

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#3 TradeStation Global
Deposit and withdrawal
3.0

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.
TradeStation Global withdrawal fee and options
Interactive Brokers XTB TradeStation Global XM ATFX
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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#3 TradeStation Global
Markets and products
5.0

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

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#3 TradeStation Global
Web trading platform
4.0

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
Best international online brokers for citizens in Eritrea - TradeStation Global trading platform
TradeStation Global trading platforms
Interactive Brokers XTB TradeStation Global XM ATFX
Web platform score 4.0 4.0 4.0 3.0 3.0
Mobile platform score 4.0 4.0 4.0 4.0 4.0
Desktop platform score 3.0 4.0 3.0 3.0 3.0

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#3 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 for EU clients. It is regulated by the top-tier UK FCA.
Fees score 4.0
Recommended for Traders looking for low fees and a wide selection of products

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XM Logo

#4 Best international online brokers for citizens in Eritrea
XM

4.4

Trading Point Holding, XM's parent company, was founded in 2009 and it is a global CFD and FX broker. Trading Point Holding has two brands: XM and Trading.com.

XM is available globally and regulated by three financial authorities: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), International Financial Services Commission of Belize (IFSC).

Trading.com was launched in 2019 and is available only for EEA residents, except Belgian, Cypriot, Greek, and Swiss residents. Trading.com is regulated by the Financial Conduct Authority (FCA).

In this review, we focus on the XM brand.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.10% 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. Risk warnings are shown on the website but they are unclear on percentages

Recommended for forex and cfd traders who prefer metatrader platforms and seek low trading fees

Pros Cons
Low CFD and withdrawal fees Only CFDs, forex, cryptos for Europeans
Easy and fast account opening Average forex fees
Great educational tools Inactivity fee

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69.10% of retail CFD accounts lose money

#4 XM
Fees
4.0

XM has low trading fees for CFD's and no withdrawal fee. On the other hand, the forex fees are average and there is a fee for inactivity.
Pros Cons
Low CFD fees Inactivity fee
No withdrawal fee Average FX fees
XM fees
Interactive Brokers XTB TradeStation Global XM ATFX
US stock $1.0 $10.0 $1.5 $0.0 -
UK stock $7.2 $10.0 $2.4 - -
EURUSD benchmark fee $17.9 $15.0 $17.9 $17.1 $10.5

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

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69.10% of retail CFD accounts lose money

#4 XM
Account opening
5.0

XM account opening is hassle-free and straightforward. Your account is ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM minimum deposit and time to open an account
Interactive Brokers XTB TradeStation Global XM ATFX
Minimum deposit $0 $250 $1,000 $5 $500
Time to open account 1-3 days 1 day 1 day 1 day 1 day

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69.10% of retail CFD accounts lose money

#4 XM
Deposit and withdrawal
5.0

XM's deposit and withdrawal are fast, can be done in several forms, and are cost-friendly.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
Free wire withdrawal for more than $200 withdrawals
XM withdrawal fee and options
Interactive Brokers XTB TradeStation Global XM ATFX
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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69.10% of retail CFD accounts lose money

#4 XM
Markets and products
3.0

At XM, you can trade with CFDs, forex, and cryptos. Non-European clients can also trade with some real stocks. There are no ETFs, mutual funds, bonds, options, and futures.
XM markets and products
Interactive Brokers XTB TradeStation Global XM ATFX
Stock Yes Yes Yes Yes No
ETF Yes Yes Yes No No
Forex Yes Yes Yes Yes Yes
Fund Yes No Yes No No
Bond Yes No Yes No No
Options Yes No Yes No No
Futures Yes No Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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69.10% of retail CFD accounts lose money

#4 XM
Web trading platform
3.0

The web trading platform of XM is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts, and the design is outdated.
Pros Cons
Clear fee report No price alerts
Good customizability (for charts, workspace) Outdated design
Best international online brokers for citizens in Eritrea - XM trading platform
XM trading platforms
Interactive Brokers XTB TradeStation Global XM ATFX
Web platform score 4.0 4.0 4.0 3.0 3.0
Mobile platform score 4.0 4.0 4.0 4.0 4.0
Desktop platform score 3.0 4.0 3.0 3.0 3.0

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69.10% of retail CFD accounts lose money

#4 XM
Verdict

XM is regulated by more authorities globally, including the top-tier ASIC.

On the plus side, we liked the low CFD and withdrawal fees. The account opening is seamless and hassle-free. There is a wide range of educational tools in great quality.

XM has some drawbacks though. Its product range is limited to FX, CFDs, cryptos. Stocks only for non-Europeans. Its forex fees are average. Lastly, a monthly $5 fee is charged after three months of inactivity. 

We recommend XM for clients who prefer CFD and forex trading and are looking for MetaTrader trading platforms. Feel free to test it via the demo account.

XM
Summary XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC.
Fees score 4.0
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

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69.10% of retail CFD accounts lose money

ATFX Logo

#5 Best international online brokers for citizens in Eritrea
ATFX

4.4

AT Group is a global financial group and ATFX is the brand of branches providing CFD/forex trading services. ATFX has four legal entities with different regulations and services. In this review, we tested the service of AT Global Markets (UK) Limited, which is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.16% 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 familiar with the metatrader 4 trading platform

Pros Cons
Low fees Limited product portfolio
Fast and easy account opening Pushy sales team
Multiple deposit and withdrawal options for free No fundamental data

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70.16% of retail CFD accounts lose money

#5 ATFX
Fees
5.0

ATFX has great fees. It charges low fees both for CFD and forex. There are also no inactivity and withdrawal fees.
Pros Cons
Low trading fees None
Low non-trading fees
No withdrawal fee
ATFX fees
Interactive Brokers XTB TradeStation Global XM ATFX
US stock $1.0 $10.0 $1.5 $0.0 -
UK stock $7.2 $10.0 $2.4 - -
EURUSD benchmark fee $17.9 $15.0 $17.9 $17.1 $10.5

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

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70.16% of retail CFD accounts lose money

#5 ATFX
Account opening
5.0

ATFX has a user-friendly and fully digital account opening. In most cases, the account approval takes no more than 1-2 business days. On the flip side, the sales team is pushy and the required minimum deposit can be high.
Pros Cons
Fast Sales team pushy
Fully digital High minimum deposit for accounts, except Standard Account
User-friendly
ATFX minimum deposit and time to open an account
Interactive Brokers XTB TradeStation Global XM ATFX
Minimum deposit $0 $250 $1,000 $5 $500
Time to open account 1-3 days 1 day 1 day 1 day 1 day

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70.16% of retail CFD accounts lose money

#5 ATFX
Deposit and withdrawal
5.0

ATFX offers free and fast deposit and withdrawal. There are various options for funding your account, including bank transfer, credit/debit cards, as well as electronic wallets.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
ATFX withdrawal fee and options
Interactive Brokers XTB TradeStation Global XM ATFX
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No Yes Yes
Electronic wallets No No No Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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70.16% of retail CFD accounts lose money

#5 ATFX
Markets and products
1.0

ATFX provides only forex, CFDs and cryptos. However, it lacks popular asset classes, such as real stocks, mutual funds, or bonds.
ATFX markets and products
Interactive Brokers XTB TradeStation Global XM ATFX
Stock Yes Yes Yes Yes No
ETF Yes Yes Yes No No
Forex Yes Yes Yes Yes Yes
Fund Yes No Yes No No
Bond Yes No Yes No No
Options Yes No Yes No No
Futures Yes No Yes No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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70.16% of retail CFD accounts lose money

#5 ATFX
Web trading platform
3.0

The web trading platform of ATFX is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Best international online brokers for citizens in Eritrea - ATFX trading platform
ATFX trading platforms
Interactive Brokers XTB TradeStation Global XM ATFX
Web platform score 4.0 4.0 4.0 3.0 3.0
Mobile platform score 4.0 4.0 4.0 4.0 4.0
Desktop platform score 3.0 4.0 3.0 3.0 3.0

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70.16% of retail CFD accounts lose money

#5 ATFX
Verdict

ATFX is regulated by more financial authorities globally, including the top-tier FCA.

On the plus side, ATFX has low CFD and forex fees. The account opening is easy and multiple options are offered for deposit and withdrawal, which are free of charge.

ATFX  has some drawbacks though. The product range is limited to FX, CFDs, and cryptos. The sales team is pushy and fundamental data research is missing. 

As the trading fees are low and you can use a demo account, feel free to try ATFX.

ATFX
Summary ATFX is the forex/CFD brokerage arm of global financial group AT Group. It is regulated by several financial authorities globally, such as the UK FCA or CySEC of Cyprus.
Fees score 5.0
Recommended for Forex and CFD traders familiar with the MetaTrader 4 trading platform

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70.16% of retail CFD accounts lose money

Best international online brokers for citizens in Eritrea
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 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 Eritrea?

At Brokerchooser we test online brokers more than 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 best international online brokers are:

5 important criteria for the best international online brokers in 2020
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 Eritrea
Bottom line

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

Best international online brokers for citizens in Eritrea
Interactive Brokers XTB TradeStation Global XM ATFX
Overall score 4.9 4.6 4.5 4.4 4.4
Best in Best online broker Best CFD broker Best broker for buy and hold
Fees score 4.0 4.0 4.0 4.0 5.0
Account opening score 3.0 5.0 3.0 5.0 5.0
Deposit and withdrawal score 3.0 5.0 3.0 5.0 5.0
Markets and products score 5.0 3.0 5.0 3.0 1.0
Web platform score 4.0 4.0 4.0 3.0 3.0
Visit broker Visit broker
75% of retail CFD accounts lose money
Visit broker Visit broker
69.10% of retail CFD accounts lose money
Visit broker
70.16% of retail CFD accounts lose money

Interactive Brokers is our winner, the best international online broker in Eritrea of 2020. Wide range of products. Many great research tools. Regulated by several authorities.
All brokers are considered 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 international broker for you or learn more about investing your money.

Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this article

Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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Visit XTB
75% of retail CFD accounts lose money
Visit XM
69.10% of retail CFD accounts lose money
Visit ATFX
70.16% of retail CFD accounts lose money
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