To find the best international online brokers in Micronesia, Fed. St., we went ahead and did the research for you. After testing, analyzing and comparing 77 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 Micronesia, Fed. St.:
- Interactive Brokers is the number one international online broker in 2020. Low trading fees. Wide range of products. Many great research tools.
- TradeStation is your runner-up. Great web and mobile trading platform. Low stock and ETF fees. High-quality educational tools.
- XTB rounds out the top three. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.
- Oanda, numero quatro. Low trading fees. Great trading platforms. Outstanding research tools.
- IG. First-class web trading platform. Superb educational tools. Great deposit and withdrawal options. Just made it to the list at number five.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.9 | Best online broker |
| #2 | TradeStation | US stockbroker | 4.7 | Best app for stock trading |
| #3 | XTB | Global CFD and forex broker | 4.6 | Best CFD broker |
| #4 | Oanda | US forex broker | 4.4 | Best mobile trading platform |
| #5 | IG | Global CFD and forex broker | 4.5 |
What makes a good online broker? First of all, they must offer fair fees and have a good safety score. It should also be easy to open an account and deposit money. They should give you access to many products, and they need to have a great trading platform.
Easy to list, but hard to figure out. That’s why we are testing brokers along more than 100 criteria, using real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker? For a tailored recommendation, check out our broker finder tool. You can enter your country, and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with this detailed comparison table.
And now, let's see the best international online brokers in 2020 for citizens in Micronesia, Fed. St. one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Micronesia, Fed. St.
Interactive Brokers
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. 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 |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • High inactivity fee |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees; 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 |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $10.0 | - | $15.0 |
| UK stock | $7.8 | - | $12.0 | - | $10.4 |
| EURUSD benchmark fee | $11.2 | - | $8.3 | $14.6 | $17.3 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#1 Interactive Brokers
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types | • Confusing messages throughout the process |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $1 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1-3 days |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal each month free |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| 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 |
#1 Interactive Brokers
Markets and products
Through Interactive Brokers you can access an extremely wide range of markets and all product types are available.
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | No |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#1 Interactive Brokers
Web trading platform
Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.5 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 4.4 stars | 5.0 stars | 5.0 stars |
| Desktop platform score | 3.0 stars | 2.5 stars | 4.4 stars | 4.5 stars | - |
#1 Interactive Brokers
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker for advanced traders.
On the plus side, IB has low fees, a vast range of markets and products available with diverse research tools.
There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy 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 stars |
| Recommended for | Traders looking for low fees and a professional trading environment |
#2 Best international online brokers for citizens in Micronesia, Fed. St.
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Not user-friendly deposit and withdrawal |
| • Low stock and ETF fees | • No forex trading |
| • High-quality educational tools | • Okayish customer service |
#2 TradeStation
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals are costly and non-trading fees can be high.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low stock and ETF fees | • Non-trading fees can be high |
| • Multiple fee structures to choose from |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $10.0 | - | $15.0 |
| UK stock | $7.8 | - | $12.0 | - | $10.4 |
| EURUSD benchmark fee | $11.2 | - | $8.3 | $14.6 | $17.3 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#2 TradeStation
Account opening
TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
| • Fast | • Only USD accounts (unless you trade futures) |
| • Fully digital | |
| • User-friendly |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $1 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1-3 days |
#2 TradeStation
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • Only USD accounts (unless you trade futures) |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| 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 |
#2 TradeStation
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | No |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#2 TradeStation
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.5 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 4.4 stars | 5.0 stars | 5.0 stars |
| Desktop platform score | 3.0 stars | 2.5 stars | 4.4 stars | 4.5 stars | - |
#2 TradeStation
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.
On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.
Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
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#3 Best international online brokers for citizens in Micronesia, Fed. St.
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. 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 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 |
#3 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 | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $10.0 | - | $15.0 |
| UK stock | $7.8 | - | $12.0 | - | $10.4 |
| EURUSD benchmark fee | $11.2 | - | $8.3 | $14.6 | $17.3 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#3 XTB
Account opening
XTB's account opening process is hassle-free, 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 | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $1 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1-3 days |
#3 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 | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| 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 |
#3 XTB
Markets and products
XTB's default product selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | No |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#3 XTB
Web trading platform
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.5 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 4.4 stars | 5.0 stars | 5.0 stars |
| Desktop platform score | 3.0 stars | 2.5 stars | 4.4 stars | 4.5 stars | - |
#3 XTB
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. 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 are 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 | 3.7 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
#4 Best international online brokers for citizens in Micronesia, Fed. St.
Oanda
Oanda is an American forex broker founded in 1996. It is still a private company, thus not listed on any stock exchange.
Oanda is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, the National Futures Association (CFTC) and the UK's Financial Conduct Authority (FCA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The services offered by the broker's different entities differ slightly. In this review, we mainly focus on the UK one.
Recommended for forex traders who value a user-friendly platform and great research tools
| Pros | Cons |
|---|---|
| • Low trading fees | • Only FX and CFD available |
| • Great trading platforms | • No stock exchange listing and banking background |
| • Outstanding research tools | • Withdrawal fee can be high |
#4 Oanda
Fees
Oanda charges low forex fees. Non-trading fees, such as the inactivity fee and withdrawal fees, are average.
| Pros | Cons |
|---|---|
| • Low trading fees | • High withdrawal fee for bank transfers |
| • Low forex fees | |
| • First credit/debit card withdrawal per month is free |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $10.0 | - | $15.0 |
| UK stock | $7.8 | - | $12.0 | - | $10.4 |
| EURUSD benchmark fee | $11.2 | - | $8.3 | $14.6 | $17.3 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#4 Oanda
Account opening
Oanda's account opening is straightforward, with no required minimum balance.
| Pros | Cons |
|---|---|
| • Fully digital | None |
| • No minimum deposit |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $1 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1-3 days |
#4 Oanda
Deposit and withdrawal
Oanda charges no deposit and account fees. The inactivity fee is also reasonable. You can also withdraw your money free of charge with a debit or credit card, but bank transfers and PayPal withdrawals are quite costly.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • High withdrawal fee for bank transfers and PayPal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| 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 |
#4 Oanda
Markets and products
At Oanda you can trade only forex and CFDs. It offers fewer forex pairs but more CFDs than its closest competitors.
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | No |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#4 Oanda
Web trading platform
Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.5 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 4.4 stars | 5.0 stars | 5.0 stars |
| Desktop platform score | 3.0 stars | 2.5 stars | 4.4 stars | 4.5 stars | - |
#4 Oanda
Verdict
Oanda is a great forex broker: its trading fees are low and it has user-friendly trading platforms that you will quickly learn to use confidently. It also provides powerful research tools, especially trading APIs.
On the other hand, Oanda has a limited product portfolio, with only forex and CFD products available. It doesn't have a banking background and is not listed on any stock exchange, two typical factors that enhance transparancy and regulatory scrutiny. Withdrawal fees can also be high.
Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after one year.
| Oanda | |
|---|---|
| Summary | Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC. |
| Fees score | 2.9 stars |
| Recommended for | Forex traders who value a user-friendly platform and great research tools |
#5 Best international online brokers for citizens in Micronesia, Fed. St.
IG
IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.
IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.
Recommended for traders of any experience level looking for an easy-to-use trading platform
| Pros | Cons |
|---|---|
| • First-class web trading platform | • High forex and stock CFD fees |
| • Superb educational tools | • Limited product portfolio |
| • Great deposit and withdrawal options | • Slow customer support |
#5 IG
Fees
IG has low non-trading fees. There is no fee for withdrawals and an inactivity fee is charged only after 2 years. On the negative side, the forex and stock CFD fees are high.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High forex fees |
| • Inactivity fee charged only after 2 years | • High stock CFD trading fees |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| US stock | $1.0 | $1.0 | $10.0 | - | $15.0 |
| UK stock | $7.8 | - | $12.0 | - | $10.4 |
| EURUSD benchmark fee | $11.2 | - | $8.3 | $14.6 | $17.3 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#5 IG
Account opening
IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $/€300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
| Pros | Cons |
|---|---|
| • Fully digital | • Slower account opening |
| • Low minimum deposit | |
| • No minimum deposit for bank transfer |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $1 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1-3 days |
#5 IG
Deposit and withdrawal
IG offers free and fast deposits and withdrawals. There are various options for funding your account, including traditional methods such as bank wire transfer and credit card funding, as well as PayPal.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| 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 |
#5 IG
Markets and products
At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real stocks. Other popular assets, however, like mutual funds and bonds, are not available.
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | No |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | No |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#5 IG
Web trading platform
IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.5 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 4.4 stars | 5.0 stars | 5.0 stars |
| Desktop platform score | 3.0 stars | 2.5 stars | 4.4 stars | 4.5 stars | - |
#5 IG
Verdict
IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.
IG has one of the best web trading platforms BrokerChooser has tested. The deposit and withdrawal conditions are great. You can also expand your knowledge with great educational materials.
On the other hand, there are some drawbacks. The forex and stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs and options. Customer support could be better.
Feel free to test IG's first-class trading platform, since there is no minimum funding amount for bank transfers and you can also easily open a demo account.
| IG | |
|---|---|
| Summary | IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA. |
| Fees score | 2.7 stars |
| Recommended for | Traders of any experience level looking for an easy-to-use trading platform |
Best international online brokers for citizens in Micronesia, Fed. St.
What makes a good online broker
Now you know the top 5. You are probably curious about how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
You can be sure none of them is a scam. They are regulated by top-tier authorities. Some of them are also listed on an exchange, while some have a banking background.
However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.
If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.
How did BrokerChooser pick the best international online brokers for a citizen in Micronesia, Fed. St.?
At BrokerChooser, we test online brokers along more than 100 criteria, using real accounts and real money. We don’t want to overwhelm you, so for now we’ll just list the five most important criteria.
The five most important criteria for best international online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Account opening | Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require. |
| 3. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 4. Products and markets | You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
Best international online brokers for citizens in Micronesia, Fed. St.
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2020 for citizens in Micronesia, Fed. St.:
| Interactive Brokers | TradeStation | XTB | Oanda | IG | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.7 | 4.6 | 4.4 | 4.5 |
| Best in | Best online broker | Best app for stock trading | Best CFD broker | Best mobile trading platform | |
| Fees score | 4.0 stars | 4.1 stars | 3.7 stars | 2.9 stars | 2.7 stars |
| Account opening score | 3.4 stars | 5.0 stars | 5.0 stars | 4.4 stars | 4.4 stars |
| Deposit and withdrawal score | 3.5 stars | 2.3 stars | 4.5 stars | 4.2 stars | 4.5 stars |
| Markets and products score | 5.0 stars | 2.7 stars | 2.8 stars | 1.6 stars | 4.0 stars |
| Web platform score | 4.3 stars | 4.5 stars | 4.4 stars | 4.5 stars | 5.0 stars |
| Open account | Open account |
Open account
82% of retail CFD accounts lose money |
Open account
74-89% of retail CFD accounts lose money |
Interactive Brokers is our winner, the best international online broker in Micronesia, Fed. St. of 2020. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best international broker for you, or learn more about investing your money.
