To find the best international online broker for the Middle East, we went ahead and did the research for you. After testing, analyzing and comparing 20 brokers, five made it to the top. We highly recommend all five to you. And now, without further ado…
The top 5 picks for the best international online brokers for a Middle East citizen in 2019:
- Interactive Brokers is the best international online broker in 2019. They are hard to beat having the most products at low fees.
- Saxo Bank has the best trading platform, place two.
- Swissquote is the best for funds. Pricier than the others, third place.
- XTB is the best CFD broker, numero quatro.
- TradeStation Global. Very similar to Interactive Brokers, but without education. Just made it to the list with being number five.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.7 | Best online broker |
| #2 | Saxo Bank | Danish investment bank | 4.5 | Best trading platform |
| #3 | Swissquote | Swiss investment bank | 4.5 | Best for funds |
| #4 | XTB | Global CFD and FX broker | 4.5 | Best CFD broker |
| #5 | TradeStation Global | UK-based global broker | 4.5 |
All five brokers are considered safe. They are regulated by top-tier regulators from the UK, US, Switzerland or Denmark.
What makes a good online broker? They need to offer fair fees. It must also be easy to open an account and deposit. They should offer access to a lot of markets and need to have a great platform. Easy to list, but hard to figure it out. We are testing brokers along ~100 criteria with real accounts and real money. We know what's up.
Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.
Boring, but important stuff: All five broker's portfolio contains CFD products. They are complex and very risky, thus not suitable for everyone. You can easily lose all of your invested money. If you don't have clue what a CFD is, start with these CFD trading tips.
And now, let's see the best international online brokers for the Middle East in 2019 one by one. Starting with the winner, Interactive Brokers.
#1 Best international online brokers for Middle East citizens
Interactive Brokers
4.7
5 stars
Best online broker
Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.
Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Recommended for advanced traders preferring low fees and can cope with a complicated trading platform.
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Limited and not user-friendly web trading platform
- Funding and withdrawal only through bank transfer
- Complicated account opening process
#1 Interactive Brokers
Fees
4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Transparent fee structure
- Low trading fees
- Inactivity fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $3.2 |
| Vodafone benchmark fee | $18.0 | $23.8 | $73.1 | $24.6 | $3.3 |
| EURUSD benchmark fee | $23.0 | $63.7 | $18.9 | $17.1 | $23.0 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#1 Interactive Brokers
Account opening
3 stars
The account opening process is fully digital, but slow, and complicated.
- Account opening fully digital
- No minimum deposit for most accounts
- Slow account opening
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $5,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#1 Interactive Brokers
Deposit and withdrawal
2 stars
Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the flip side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal every month
- Credit/Debit card deposit and withdrawal not available
- Lengthy funding and withdrawal - over 3 days
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $0 |
#1 Interactive Brokers
Markets and products
5 stars
At Interactive Brokers you can reach the most markets and trade with all product types. IB has the widest offering.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | Yes | No | Yes |
| Bond | Yes | Yes | Yes | No | Yes |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | - |
#1 Interactive Brokers
Web trading platform
2 stars
Interactive Brokers' web trading platform is good for execution, it has very advanced order management. However, it is not user-friendly and standard functions are missing or underdeveloped.
- Good variety of order types
- Clear fee report
- Bad search function
- Not user-friendly
- Difficult to set the alerts
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#1 Interactive Brokers
Verdict
IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.
It has low trading fees, a wide range of product portfolio, and diverse research tools.
On the flip side, the trading platforms are complicated and inconvenient to use. Only bank transfer is available for deposit and withdrawal, and the account opening is complicated.
Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.
#2 Best international online brokers for Middle East citizens
Saxo Bank
4.5
5 stars
Best trading platform
Saxo Bank is a Danish investment bank providing online trading and investments. It is a leading European retail brokerage innovator. Saxo is privately owned, established in 1992, and headquartered in Copenhagen.
Saxo is considered safe as it is regulated worldwide by more than 10 financial regulators, including top-tier regulators, like the UK FCA.
Recommended for investors aiming for a great trading platform and research.
- Outstanding research
- Great trading platform
- Broad product portfolio
- $2,000 minimum funding requirement
- High fees
- Missing live chat
#2 Saxo Bank
Fees
2 stars
Saxo Bank has high trading fees and average non-trading fees. There is a $100 inactivity fee if you don't trade for 6 months.
- No withdrawal fee
- Transparent fee structure
- High trading fees
- Inactivity fee
- High financing rate
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $3.2 |
| Vodafone benchmark fee | $18.0 | $23.8 | $73.1 | $24.6 | $3.3 |
| EURUSD benchmark fee | $23.0 | $63.7 | $18.9 | $17.1 | $23.0 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#2 Saxo Bank
Account opening
3 stars
Account opening is available for almost all residents and is fully digital. However, a $2,000 minimum funding is required.
- Fast account opening
- Account opening fully digital
- Available for almost all residents
- Sales team pushy
- $2,000 minimum funding requirement
- Only single currency account available at classic accounts
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $5,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#2 Saxo Bank
Deposit and withdrawal
5 stars
Saxo provides multiple deposit and withdraw options free of charge on a user-friendly interface.
- Several account base currencies
- Free withdrawal
- Free deposit
- Credit/Debit card deposit and withdrawal not available
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $0 |
#2 Saxo Bank
Markets and products
4 stars
At Saxo Bank you can reach many markets and trade with a lot of different products except for funds.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | Yes | No | Yes |
| Bond | Yes | Yes | Yes | No | Yes |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | - |
#2 Saxo Bank
Web trading platform
5 stars
Saxo Bank's web trading platform is easy-to-use and well-designed. However, it doesn't provide a two-step login and the customizability is limited.
- Good search function
- User-friendly
- Looks nice
- No two-step (safe) login
- Limited customizability (for chart, for workspace)
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It has one of the best trading platforms backed by a great research and customer service. The product portfolio is covering all important international markets and asset classes.
It has some drawbacks though. It hardly supports investors and traders with a smaller wallet to invest: the Saxo Bank $2,000 minimum deposit is a bit high. Fees are high and live chat is missing.
In general, Saxo Bank is one of the best online brokerage companies a European customer can choose. By opening an account, you end up with a broad, well-developed service.
#3 Best international online brokers for Middle East citizens
Swissquote
4.5
5 stars
Best for funds
Swissquote is a Swiss investment bank, established in 1996. It has two main arms:
The Swiss arm for stocks, funds, options, and futures
The UK arm for CFDs, and FX
Formally, Swissquote Bank Ltd is based in Switzerland and regulated by FINMA, the Swiss financial regulator. This one offers stocks, funds, bonds, futures and options. The other, Swissquote Ltd is UK based, regulated by the FCA, the UK financial regulator, and offers CFDs and FX.
Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, and discloses detailed financials regularly.
For clarity, we will call the Switzerland Swissquote for stocks "Swissquote (CH)", and the UK Swissquote for CFDs and FX "SwissquoteForex (UK)".
Recommended for affluent investors valuing safety and being ok with higher fees.
- Extensive market and product access
- High investor protection amount
- Digital account opening
- High trading fees
- Overcomplicated trading platform
- Better part of the research not free
#3 Swissquote
Fees
2 stars
Swissquote has high trading fees and average non-trading fees. As a plus, there is no inactivity fee.
- No inactivity fee
- High trading fees
- Withdrawal fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $3.2 |
| Vodafone benchmark fee | $18.0 | $23.8 | $73.1 | $24.6 | $3.3 |
| EURUSD benchmark fee | $23.0 | $63.7 | $18.9 | $17.1 | $23.0 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#3 Swissquote
Account opening
5 stars
Swissquote offers a fast, easy, and fully digital account opening. Also, there is no minimum account balance requirement.
- Fast account opening
- Account opening fully digital
- No minimum account balance
- Video identification of documents may not be available for some locations
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $5,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#3 Swissquote
Deposit and withdrawal
4 stars
The depsoit is fast and user-friendly. On the flip side, you can only withdraw by bank transfer.
- Several account base currencies
- Free deposit
- Credit/Debit card deposit
- Credit card withdrawal is not available
- Withdrawal is not user-friendly
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $0 |
#3 Swissquote
Markets and products
4 stars
At Swissquote(CH) you can reach many markets and trade with a lot of different product types. At SwissquoteForex (UK) you can trade only Forex and some CFDs.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | Yes | No | Yes |
| Bond | Yes | Yes | Yes | No | Yes |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | - |
#3 Swissquote
Web trading platform
3 stars
The Swissquote (CH) platform has a lot of functions, even too many. It can get complicated. SwissquoteForex (UK)' MetaTrader 4 is a well thought out platform.
- Two-step (safe) login
- Price alerts available
- Available in more languages
- Limited order types
- Bad search function
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#3 Swissquote
Verdict
Swissquote has a rock solid background. It is Swiss, it is listed, it is a bank. It has two entities, one in the UK and one in Switzerland. If you open an account at the London-based entity, you can trade with forex and CFDs, while the Swiss entity gives you access to a wide range of asset classes from stocks to options.
Swissquote has an easy and fast account opening. We really liked its market and product coverage. There are lot of stocks, mutual funds, and a lot of different type of products from bonds to cryptos.
However, nothing comes for free. The trading fees are relatively high.
All in all, Swissquote is a great provider. As there is no minimum deposit requirements and no inactivity fee, feel free to try it out.
#4 Best international online brokers for Middle East citizens
XTB
4.5
5 stars
Best CFD broker
XTB is primarily a forex and CFD broker and in some countries, you can also trade with real stocks. XTB is a global broker, it has more than ten offices worldwide. In Europe, it serves clients by a UK or a Polish entity. We tested the UK entity, but will provide info on all entities.
XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent. It discloses its financials regularly. XTB is authorized and regulated by different regulators, including top-tier regulator, the FCA.
XTB is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by a top-tier regulator.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In the UK, 79%, while in the rest of Europe 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and CFD traders looking for quick deposit and withdrawal, and advanced research tools.
- Fast deposit and withdrawal
- Fast and user-friendly account opening
- Good research tools
- Limited product portfolio, mostly CFD and FX
- Sales team can be pushy
- Missing 24/7 customer support
#4 XTB
Fees
4 stars
XTB has average trading fees and low non-trading fees.
- Low fees
- No inactivity fee
- Low financing rate
- No withdrawal fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $3.2 |
| Vodafone benchmark fee | $18.0 | $23.8 | $73.1 | $24.6 | $3.3 |
| EURUSD benchmark fee | $23.0 | $63.7 | $18.9 | $17.1 | $23.0 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#4 XTB
Account opening
5 stars
XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
- Fast account opening
- Account opening fully digital
- User-friendly
- Sales team pushy
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $5,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#4 XTB
Deposit and withdrawal
5 stars
XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
- Credit/Debit card deposit and withdrawal available
- Speedy funding and withdrawal -within 3 days
- User-friendly
- High fees for electronic wallets deposit
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $0 |
#4 XTB
Markets and products
2 stars
UK, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with real shares and ETFs.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | Yes | No | Yes |
| Bond | Yes | Yes | Yes | No | Yes |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | - |
#4 XTB
Web trading platform
4 stars
XTB's xStation 5 platform is user-friendly, can be customized, and a have good search function. On the flip side, we missed the two-step login, the leverage setting option, and the more sophisticated order types.
- Good search function
- Good customizability (for chart, for workspace)
- User-friendly
- No two-step (safe) login
- Limited order types
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#4 XTB
Verdict
XTB is a good broker. It is regulated by more than 10 authorities globally, including the top-tier FCA and it is listed on the Warsaw Stock Exchange.
On the plus side, deposit and withdrawal are fast. We liked the seamless and hassle-free account opening. The research tools are easy-to-use.
XTB has some drawbacks though. Its product range is mainly limited to FX and CFDs, but there are real stocks too in some countries. When opening the account the sales team can be pushy. We also missed the 24/7 customer support.
We recommend XTB for clients preferring forex and CFD trading and aim for a fast account opening, cheap money withdrawal, and great research tools. Feel free to test it even via the demo account.
#5 Best international online brokers for Middle East citizens
TradeStation Global
4.5
5 stars
TradeStation is a US broker, and it offers TradeStation Global for non-US clients through its UK subsidiary.
TradeStation Global is practically Interactive Brokers's service, not TradeStation's. 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. This is like you buy a British Airways flight ticket and then the plane is operated by Delta.
Both Interactive Brokers and TradeStation are very reputable brokers. Both have stock exchange listed parents and are regulated by top-tier regulators.
TradeStation Global is considered safe because it is regulated by the top-tier FCA, the UK regulator.
Recommended for traders looking for low fees and a lot of products.
- Low trading fees
- Wide range of products
- Fast and relevant customer service
- Not user-friendly deposit and withdrawal
- Complicated account opening
- Under-developed web trading platform
#5 TradeStation Global
Fees
4 stars
TradeStation Global has low trading fees and high non-trading fees. Its financing rates are very competitive as well. On the other hand, there are withdrawal and inactivity fees.
- Low financing rate
- Withdrawal fee
- $10 inactivity fee
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $30.2 | $30.2 | $18.1 | $3.2 |
| Vodafone benchmark fee | $18.0 | $23.8 | $73.1 | $24.6 | $3.3 |
| EURUSD benchmark fee | $23.0 | $63.7 | $18.9 | $17.1 | $23.0 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#5 TradeStation Global
Account opening
2 stars
TradeStation Global account open is the same as Interactive Brokers. It is fully digital but slow and complicated. There is also $5,000 minimum required.
- Account opening fully digital
- Dedicated account manager
- Not user-friendly
- Slow account opening, 1-2 days
- Minimum account balance is $5,000
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $250 | $5,000 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1 day | 1-3 days |
#5 TradeStation Global
Deposit and withdrawal
2 stars
TradeStation Global deposit and withdrawal is the same as Interactive Brokers. There are many base currencies, and one free withdrawal per month. On the flip side, only bank transfer.
- Several account base currencies
- No charge for the first withdrawal every month.
- Credit/Debit card deposit and withdrawal not available
- Lengthy funding and withdrawal - over 3 days
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $10 | $0 | $0 |
#5 TradeStation Global
Markets and products
5 stars
TradeStation Global has a great product offer. You can reach many markets and trade with all product types.
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | No | Yes | No | Yes |
| Bond | Yes | Yes | Yes | No | Yes |
| Options | Yes | Yes | Yes | No | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | - |
#5 TradeStation Global
Web trading platform
2 stars
For trading online, you can use only Interactive Brokers' web trading platform. It is good for execution and has very advanced order management. It is not user-friendly and standard functions are missing or underdeveloped.
- Good variety of order types
- Clear fee report
- Bad search function
- Not user-friendly
- Difficult to set the alerts
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#5 TradeStation Global
Verdict
TradeStation Global has low trading fees and financing rate, a lot of products on a lot of markets, and a great customer support. The TradeStation Global desktop platform has great tools, like a charting tool with a lot of indicators, a highly customizable watchlist (Radar Screen), and visualized order placing (Matrix).
On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. The account opening is complicated and there is a $5,000 minimum account balance. Lastly, the web trading platform is under-developed and not user-friendly.
Feel free to try TradeStation if you prefer low fees and a lot of products.
Best international online brokers for Middle East citizens
What makes a good online broker
Now you know the top five. You are probably curious about how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
Yes, they are considered safe. You can be sure none of them is a scam. They are regulated by top-tier regulators. Some of them are also listed on an exchange, and some have a banking background.
However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.
If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.
How did Brokerchooser pick the best international online brokers for a Middle East citizen?
At Brokerchooser we test online brokers along ~100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria.
The 5 most important criteria for online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 3. 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. |
| 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 Middle East citizens
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers for Middle East citizens in 2019:
| Interactive Brokers | Saxo Bank | Swissquote | XTB | TradeStation Global | |
|---|---|---|---|---|---|
| Overall score | 4.7 | 4.5 | 4.5 | 4.5 | 4.5 |
| Award | Best online broker | Best trading platform | Best for funds | Best CFD broker | |
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Markets and products score | |||||
| Web platform score | |||||
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Interactive Brokers is our winner, the best in 2019. Next is Saxo Bank with the best trading platform. Swissquote is placed number three, it is the best for funds. XTB is the best CFD broker and TradeStation Global is great for traders.
All brokers are considered safe, and a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best broker for you.
