Best international online brokers for citizens in Sierra Leone

XTB
4.6
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75% of retail CFD accounts lose money
City Index
4.6
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71% of retail CFD accounts lose money
Pepperstone
4.4
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73.6% of retail CFD accounts lose money
Best international online brokers for citizens in Sierra Leone

To find the best international online brokers in Sierra Leone, we went ahead and did the research for you. After testing, analyzing and comparing 58 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 Sierra Leone:

  1. XTB is the number one international online broker in 2020. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
  2. City Index is your runner-up. Low fees for forex and index CFDs. Fast and smooth account opening. Diverse research tools.
  3. Pepperstone rounds out the top three. Low forex and equity index CFD fees. Great customer service. Seamless and free deposit and withdrawal.
  4. IC Markets, numero quatro. Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  5. XM. Low CFD and withdrawal fees. Easy and fast account opening. Great educational tools. Just made it to the list at number five.
Best international online brokers of 2020 for citizens in Sierra Leone
Broker Info Score Best in
#1 XTB Global CFD and forex broker 4.6 Best CFD broker
#2 City Index Global CFD and forex broker 4.6
#3 Pepperstone Australian forex broker 4.4
#4 IC Markets Australian forex broker 4.4
#5 XM Global CFD and forex broker 4.4

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 Sierra Leone one by one, starting with the winner, XTB.

XTB Logo

#1 Best international online brokers for citizens in Sierra Leone
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

#1 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
XTB City Index Pepperstone IC Markets XM
US stock $10.0 - - - $0.0
UK stock $10.0 - - - -
EURUSD benchmark fee $15.0 $12.8 $14.9 $15.8 $17.1

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

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75% of retail CFD accounts lose money

#1 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
XTB City Index Pepperstone IC Markets XM
Minimum deposit $250 $0 $0 $200 $5
Time to open account 1 day 1 day 1 day 1 day 1 day

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75% of retail CFD accounts lose money

#1 XTB
Deposit and withdrawal
4.5

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
XTB City Index Pepperstone IC Markets XM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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75% of retail CFD accounts lose money

#1 XTB
Markets and products
2.8

XTB's product selection covers only CFDs, forex and crypto assets. Some European clients can also trade with real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
XTB markets and products
XTB City Index Pepperstone IC Markets XM
Stock Yes No No No Yes
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No 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

#1 XTB
Web trading platform
4.4

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, a two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Best international online brokers for citizens in Sierra Leone - XTB trading platform
XTB trading platforms
XTB City Index Pepperstone IC Markets XM
Web platform score 4.4 4.3 2.8 2.8 2.8
Mobile platform score 4.3 4.3 3.8 3.8 3.8
Desktop platform score 4.4 3.0 3.3 3.3 3.3

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75% of retail CFD accounts lose money

#1 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

City Index Logo

#2 Best international online brokers for citizens in Sierra Leone
City Index

4.6

City Index was founded in 1983 and it is a global CFD and FX broker. City Index is the brand name of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by top-tier financial authorities, such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) or Monetary Authority of Singapore (MAS). 

City Index is considered safe because it has a long track record, is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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 forex fees and great research tools

Pros Cons
Low fees for forex and index CFDs Limited product portfolio
Fast and smooth account opening High stock CFD fees
Diverse research tools Not user-friendly desktop platform

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71% of retail CFD accounts lose money

#2 City Index
Fees
4.1

City Index has low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high and there is an inactivity fee.
Pros Cons
Low forex fees Inactivity fee
No withdrawal fee High stock CFD fee
Low stock index CFD fees
City Index fees
XTB City Index Pepperstone IC Markets XM
US stock $10.0 - - - $0.0
UK stock $10.0 - - - -
EURUSD benchmark fee $15.0 $12.8 $14.9 $15.8 $17.1

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

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71% of retail CFD accounts lose money

#2 City Index
Account opening
5.0

City Index account opening is fully digital and there is no minimum deposit. It took us one day to have an approved open account.
Pros Cons
Fast None
Fully digital
No minimum deposit
City Index minimum deposit and time to open an account
XTB City Index Pepperstone IC Markets XM
Minimum deposit $250 $0 $0 $200 $5
Time to open account 1 day 1 day 1 day 1 day 1 day

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71% of retail CFD accounts lose money

#2 City Index
Deposit and withdrawal
4.0

City Index provides multiple options for deposit and withdrawal and they are free of charge. However, the withdrawal with some credit cards is not possible.
Pros Cons
Credit/Debit card available Problem with credit card withdrawal
Free withdrawal
No deposit fee
City Index withdrawal fee and options
XTB City Index Pepperstone IC Markets XM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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71% of retail CFD accounts lose money

#2 City Index
Markets and products
2.1

At City Index, you can only trade with CFDs, forex, and cryptos. Unfortunately, real stocks, bonds and ETFs are not available.
City Index markets and products
XTB City Index Pepperstone IC Markets XM
Stock Yes No No No Yes
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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71% of retail CFD accounts lose money

#2 City Index
Web trading platform
4.3

City Index's web trading platform is user-friendly and extremely customizable. It has also a lot of order types. On the flip side, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Best international online brokers for citizens in Sierra Leone - City Index trading platform
City Index trading platforms
XTB City Index Pepperstone IC Markets XM
Web platform score 4.4 4.3 2.8 2.8 2.8
Mobile platform score 4.3 4.3 3.8 3.8 3.8
Desktop platform score 4.4 3.0 3.3 3.3 3.3

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71% of retail CFD accounts lose money

#2 City Index
Verdict

City Index is a great CFD and forex broker regulated by top-tier financial authorities, such as the UK FCA.

On the bright side, it has low forex and stock index CFD fees, a smooth account opening process, and high-quality research tools.

It has some drawbacks though. The product portfolio is limited, the stock CFD fees are quite high, and the desktop platform is not easy-to-use.

As there is no minimum balance, no withdrawal fee and inactivity fee only kicks in after one year, feel free to try City Index out.

City Index
Summary City Index is a global CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange.
Fees score 4.1
Recommended for Forex and CFD traders looking for low forex fees and great research tools

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71% of retail CFD accounts lose money

Pepperstone Logo

#3 Best international online brokers for citizens in Sierra Leone
Pepperstone

4.4

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

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

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and good customer service

Pros Cons
Low forex and equity index CFD fees Only forex, CFDs, and crypto
Great customer service Basic news flow, no fundamental data
Seamless and free deposit and withdrawal No investor protection for non-EU clients

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73.6% of retail CFD accounts lose money

#3 Pepperstone
Fees
4.3

Pepperstone has low forex and equity index fees. Non-trading fees are low as well, as no inactivity or account fee is charged. On the negative side, CFD financing rates, i.e. fees for holding CFD positions overnight, are high.
Pros Cons
Low trading fees High financing rate for CFDs
Low non-trading fees
Low forex fees
Pepperstone fees
XTB City Index Pepperstone IC Markets XM
US stock $10.0 - - - $0.0
UK stock $10.0 - - - -
EURUSD benchmark fee $15.0 $12.8 $14.9 $15.8 $17.1

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

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73.6% of retail CFD accounts lose money

#3 Pepperstone
Account opening
5.0

Pepperstone's account opening is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Pros Cons
Fast None
Fully digital
No minimum deposit
Pepperstone minimum deposit and time to open an account
XTB City Index Pepperstone IC Markets XM
Minimum deposit $250 $0 $0 $200 $5
Time to open account 1 day 1 day 1 day 1 day 1 day

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73.6% of retail CFD accounts lose money

#3 Pepperstone
Deposit and withdrawal
4.8

Pepperstone provides plenty of options for deposit and withdrawal, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
Pros Cons
Credit/Debit card available High bank withdrawal fee for clients outside the EU/Australia
No deposit fee
Several account base currencies
Pepperstone withdrawal fee and options
XTB City Index Pepperstone IC Markets XM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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73.6% of retail CFD accounts lose money

#3 Pepperstone
Markets and products
1.8

At Pepperstone you can only trade with forex, some CFDs, and cryptos.
Pepperstone markets and products
XTB City Index Pepperstone IC Markets XM
Stock Yes No No No Yes
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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73.6% of retail CFD accounts lose money

#3 Pepperstone
Web trading platform
2.8

Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation
Best international online brokers for citizens in Sierra Leone - Pepperstone trading platform
Pepperstone trading platforms
XTB City Index Pepperstone IC Markets XM
Web platform score 4.4 4.3 2.8 2.8 2.8
Mobile platform score 4.3 4.3 3.8 3.8 3.8
Desktop platform score 4.4 3.0 3.3 3.3 3.3

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73.6% of retail CFD accounts lose money

#3 Pepperstone
Verdict

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

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

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

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

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia.
Fees score 4.3
Recommended for Forex traders looking for low fees and good customer service

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73.6% of retail CFD accounts lose money

IC Markets Logo

#4 Best international online brokers for citizens in Sierra Leone
IC Markets

4.4

IC Markets is an Australian forex broker that was founded in 2007. The company is considered safe because it is regulated by the top-tier Australian Securities and Investments Commission (ASIC).

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 with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders who value easy account opening and free deposit/withdrawal options

Pros Cons
Low forex fees No investor protection
Easy and fast account opening No negative balance protection
Free deposit and withdrawal Only forex, CFD and crypto trading

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74-89% of retail CFD accounts lose money

#4 IC Markets
Fees
4.3

IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
Pros Cons
Low trading fees High financing rate for CFDs
Low non-trading fees
Low forex fees
IC Markets fees
XTB City Index Pepperstone IC Markets XM
US stock $10.0 - - - $0.0
UK stock $10.0 - - - -
EURUSD benchmark fee $15.0 $12.8 $14.9 $15.8 $17.1

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

Visit broker More
74-89% of retail CFD accounts lose money

#4 IC Markets
Account opening
5.0

The account opening process at IC Markets is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
IC Markets minimum deposit and time to open an account
XTB City Index Pepperstone IC Markets XM
Minimum deposit $250 $0 $0 $200 $5
Time to open account 1 day 1 day 1 day 1 day 1 day

Visit broker More
74-89% of retail CFD accounts lose money

#4 IC Markets
Deposit and withdrawal
4.9

IC Markets's depositing and withdrawal services are great. There are no fees for either and many options are available for moving your money in and out.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
IC Markets withdrawal fee and options
XTB City Index Pepperstone IC Markets XM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More
74-89% of retail CFD accounts lose money

#4 IC Markets
Markets and products
1.7

At IC Markets, you can trade only with forex, some CFDs, and crypto products, no other assets are available.
IC Markets markets and products
XTB City Index Pepperstone IC Markets XM
Stock Yes No No No Yes
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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74-89% of retail CFD accounts lose money

#4 IC Markets
Web trading platform
2.8

The web trading platform of IC Markets 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 Sierra Leone - IC Markets trading platform
IC Markets trading platforms
XTB City Index Pepperstone IC Markets XM
Web platform score 4.4 4.3 2.8 2.8 2.8
Mobile platform score 4.3 4.3 3.8 3.8 3.8
Desktop platform score 4.4 3.0 3.3 3.3 3.3

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74-89% of retail CFD accounts lose money

#4 IC Markets
Verdict

IC Markets is a great forex and CFD broker. 

Its forex fees are low and account opening is fast and easy. Deposits and withdrawals are free and user-friendly. The education section of its website is also a plus.

On the other hand, IC Markets offers only forex, CFD and crypto trading. It also does not provide any investor or negative balance protection.

Feel free to try IC Markets, as you will have an account within a day and there is no inactivity fee.

IC Markets
Summary IC Markets is a global forex and CFD broker.
Fees score 4.3
Recommended for Forex traders who value easy account opening and free deposit/withdrawal options

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74-89% of retail CFD accounts lose money

XM Logo

#5 Best international online brokers for citizens in Sierra Leone
XM

4.4

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

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

Trading.com was launched in 2019 and is available only for EEA residents, except those living in Belgium, Cyprus, Greece and Switzerland. Trading.com is regulated by the UK's 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

#5 XM
Fees
3.8

XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, 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
XTB City Index Pepperstone IC Markets XM
US stock $10.0 - - - $0.0
UK stock $10.0 - - - -
EURUSD benchmark fee $15.0 $12.8 $14.9 $15.8 $17.1

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

Visit broker More
69.10% of retail CFD accounts lose money

#5 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
XTB City Index Pepperstone IC Markets XM
Minimum deposit $250 $0 $0 $200 $5
Time to open account 1 day 1 day 1 day 1 day 1 day

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69.10% of retail CFD accounts lose money

#5 XM
Deposit and withdrawal
5.0

XM's deposit and withdrawal functions are fast and inexpensive, and offer you several options.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
Free wire withdrawal above $200
XM withdrawal fee and options
XTB City Index Pepperstone IC Markets XM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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69.10% of retail CFD accounts lose money

#5 XM
Markets and products
2.9

At XM, you can trade CFDs, forex and cryptos; non-European clients can also trade some real stocks. There are no ETFs, mutual funds, bonds, options or futures.
XM markets and products
XTB City Index Pepperstone IC Markets XM
Stock Yes No No No Yes
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No 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

#5 XM
Web trading platform
2.8

XM's web trading platform 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 Sierra Leone - XM trading platform
XM trading platforms
XTB City Index Pepperstone IC Markets XM
Web platform score 4.4 4.3 2.8 2.8 2.8
Mobile platform score 4.3 4.3 3.8 3.8 3.8
Desktop platform score 4.4 3.0 3.3 3.3 3.3

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69.10% of retail CFD accounts lose money

#5 XM
Verdict

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

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

XM has some drawbacks though. Its product range is limited to FX, CFDs and cryptos, with stock trading only available for non-European users. Its forex fees are average, and a monthly $5 fee is charged after three months of inactivity. 

We recommend XM for those who are interested in CFD and forex trading and prefer 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 3.8
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

Best international online brokers for citizens in Sierra Leone
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 Sierra Leone?

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:

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 Sierra Leone
Bottom line

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

Best international online brokers for citizens in Sierra Leone
XTB City Index Pepperstone IC Markets XM
Overall score 4.6 4.6 4.4 4.4 4.4
Best in Best CFD broker
Fees score 4.0 4.1 4.3 4.3 3.8
Account opening score 5.0 5.0 5.0 5.0 5.0
Deposit and withdrawal score 4.5 4.0 4.8 4.9 5.0
Markets and products score 2.8 2.1 1.8 1.7 2.9
Web platform score 4.4 4.3 2.8 2.8 2.8
Visit broker
75% of retail CFD accounts lose money
Visit broker
71% of retail CFD accounts lose money
Visit broker
73.6% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
69.10% of retail CFD accounts lose money

XTB is our winner, the best international online broker in Sierra Leone of 2020. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
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.

Tibor Bedő

Tibor Bedő

Co-founder, CEO

Author of this article

Tibor believes having a good stockbroker is everybody's privilege. He worked extensively in the financial industry, including at Morgan Stanley and at The Boston Consulting Group (BCG). He advised leading European banks on strategy, finance and risk management.

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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Comments

Visit XTB
75% of retail CFD accounts lose money
Visit City Index
71% of retail CFD accounts lose money
Visit Pepperstone
73.6% of retail CFD accounts lose money
Visit IC Markets
74-89% of retail CFD accounts lose money
Visit XM
69.10% of retail CFD accounts lose money
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