The best alternatives to Brokerpoint are
- CapTrader - Global broker providing all asset classes
- TradeStation - US stockbroker
- Zacks Trade - US discount broker
- Interactive Brokers - International broker providing all asset classes
Let's see in a bit more detail how the Brokerpoint alternatives compare to Brokerpoint and each other:
| Brokerpoint | CapTrader | TradeStation | Zacks Trade | Interactive Brokers | |
|---|---|---|---|---|---|
| Overall score | 4.2 stars | 4.1 stars | 4.7 stars | 4.4 stars | 4.9 stars |
| Fees score | 4.1 stars | 3.6 stars | 4.1 stars | 4.0 stars | 4.5 stars |
| Account opening score | 2.5 stars | 1.0 stars | 5.0 stars | 2.5 stars | 3.2 stars |
| Deposit and withdrawal score | 3.0 stars | 3.0 stars | 2.2 stars | 3.5 stars | 3.0 stars |
| Web platform score | 5.0 stars | 4.3 stars | 3.8 stars | 3.8 stars | 3.8 stars |
| Markets and products score | 5.0 stars | 5.0 stars | 3.2 stars | 3.8 stars | 5.0 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Brokerpoint? There are many areas based on which Brokerpoint can be compared with others. When we say a given online broker is a good alternative to Brokerpoint we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Brokerpoint alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Brokerpoint is recommended for investors and traders from europe interested in global markets
- CapTrader is recommended for investors and traders looking for low fees and sophisticated trading platforms
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
- Zacks Trade is recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
- Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment
Important factors of finding Brokerpoint alternatives
So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Brokerpoint or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Brokerpoint is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Brokerpoint alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Brokerpoint, the account opening is slower than average, so if you consider this important some Brokerpoint alternatives can be a good choice.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Brokerpoint, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Brokerpoint alternative is a must.
Now let's dive into the details of how Brokerpoint and its alternatives perform in the most important areas!
Brokerpoint alternatives
CapTrader
CapTrader was founded in Germany in 1997. It is an introducing broker to Interactive Brokers (IB), one of the largest brokers in the world.
- The account opening and deposit/withdrawal options are very similar to Interactive Brokers.
- The trading platforms and available products are exactly the same as at Interactive Brokers.
- Fees, however, are charged by CapTrader, not by Interactive Brokers.
- CapTrader offers its own customer support and educational tools.
CapTrader is considered safe because it has a long track record and is regulated by top-tier financial authorities. After Brexit, European users of CapTrader are being served through the Irish licence of Interactive Brokers.
Recommended for investors and traders looking for low fees and sophisticated trading platforms
| Pros | Cons |
|---|---|
|
• Low stock and ETF fees
|
• Complicated account opening
|
|
• Wide range of products
|
• Complex desktop trading platform
|
|
• Many great research tools
|
|
Fees
CapTrader has low stock and ETF fees, and margin rates are also low. On the other hand, options and futures fees are high.
| Pros | Cons |
|---|---|
|
• Low stock and ETF fees / Free stock trading
|
• High options and futures fees
|
|
• Low stock and ETF fees
|
|
|
• One free withdrawal per month
|
|
|
• Low margin rates
|
|
| CapTrader | Brokerpoint | |
|---|---|---|
| Apple benchmark fee | $4.3 | $4.3 |
| Vodafone benchmark fee | $18.9 | $5.3 |
| EURUSD benchmark fee | $18.2 | $13.9 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
CapTrader's account opening is fully digital, but the positives stop there: the process is complicated, account verification takes long, and there's a steep €2,000 minimum deposit.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slow
|
|
|
• Not user-friendly
|
|
|
• High minimum deposit of €2,000
|
| CapTrader | Brokerpoint | |
|---|---|---|
| Minimum deposit | $2,000 | $0 |
| Time to open account | >3 days | >3 days |
If you are interested more in CapTrader minimum deposit, this overview will help you.
Deposit and withdrawal
CapTrader offers one free withdrawal per month and has a decent selection of account base currencies; however, it doesn't accept credit/debit cards and electronic wallets.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• One free withdrawal per month
|
• Electronic wallets not accepted
|
| CapTrader | Brokerpoint | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
CapTrader's WebTrader platform is user-friendly, has a clear fee report, and is accessible via a safe two-step login process.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• User experience could be better
|
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| CapTrader | Brokerpoint | |
|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 3.8 stars |
| Desktop platform score | 3.5 stars | 3.0 stars |
Learn more about CapTrader's web trading platform in the detailed CapTrader review.
Markets and products
Through CapTrader, you can access an extremely wide range of markets, and virtually all product types imaginable.
| CapTrader | Brokerpoint | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | Yes |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
CapTrader is a global stockbroker for investors and traders. We recommend this broker mainly for advanced traders.
On the plus side, CapTrader has low stock and ETF fees, a vast range of available markets and products, and diverse research tools.
There are some drawbacks, though. It charges high forex fees, and the account opening process is complicated. The desktop platform is complex and might be hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, feel free to try CapTrader, as it could be a great fit for you.
| CapTrader | |
|---|---|
| Summary | CapTrader is a Germany-based global stockbroker for investors and traders. It is an introducing broker of Interactive Brokers IE, which is regulated by the Central Bank of Ireland. |
| Fees score | 3.6 stars |
| Recommended for | Investors and traders looking for low fees and sophisticated trading platforms |
Brokerpoint alternatives
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; transparently 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
|
• Inconvenient deposit and withdrawal
|
|
• Low trading fees
|
• No forex trading
|
|
• High-quality research and education tools
|
• Mediocre customer service
|
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, there's an inactivity fee and only ACH is free for withdrawals.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Inactivity fee
|
|
• Low stock and ETF fees / Free stock trading
|
• WIthdrawal fee for bank wire transfers
|
|
• Free ACH withdrawals
|
|
| TradeStation | Brokerpoint | |
|---|---|---|
| Apple benchmark fee | $0.3 | $4.3 |
| Vodafone benchmark fee | - | $5.3 |
| EURUSD benchmark fee | - | $13.9 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
TradeStation account opening is fully digital, user-friendly and fast. There are many account types, but USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• User-friendly
|
|
| TradeStation | Brokerpoint | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | >3 days |
If you are interested more in TradeStation minimum deposit, this overview will help you.
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; while the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• Deposit/withdrawal in cryptocurrencies
|
• High fee for wire withdrawal
|
|
• ACH withdrawal is free
|
|
| TradeStation | Brokerpoint | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
None |
|
• Two-step (safer) login
|
|
|
• Good search function
|
|
| TradeStation | Brokerpoint | |
|---|---|---|
| Web platform score | 3.8 stars | 5.0 stars |
| Mobile platform score | 4.8 stars | 3.8 stars |
| Desktop platform score | 2.3 stars | 3.0 stars |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
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.
| TradeStation | Brokerpoint | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFDs | No | Yes |
| Crypto | Yes | Yes |
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly, with many great functions. TradeStation also charges low stock and ETF trading fees. On top of that, its education materials are well-structured and high quality.
On the other hand, deposit and withdrawal functions are not that convenient, as you can only use bank transfers. Among other negatives, there is no forex trading, and customer service has room for improvement.
As there is no minimum deposit, feel free to try TradeStation if you prefer trading on US markets.
| 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 |
Brokerpoint alternatives
Zacks Trade
Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.
LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities around the world.
If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:
- Zacks Trade has its own, different fee structure, product selection, educational tools and customer support. Unlike at Interactive Brokers, trading forex, CFDs and futures is not supported.
- The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.
Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators.
Since Zacks is more expensive than IB, why would anyone favor Zacks over Interactive Brokers? We found two possible reasons:
- Zacks falls under SEC regulation and users have SIPC protection (which insures against the loss of assets up to $500,000 in the case of broker bankruptcy), no matter where they live
- Zacks provides free broker-assisted trading
Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
| Pros | Cons |
|---|---|
|
• Low fees
|
• Complex desktop platform and research tools
|
|
• Extensive stock and ETF selection
|
• Slow and complicated account opening
|
|
• Great customer service
|
• No futures and forex
|
Fees
Zacks Trade has generally low trading fees; its stock, ETF and bond trading fees are especially low. However, mutual fund fees are quite high, and there's also an inactivity fee.
| Pros | Cons |
|---|---|
|
• Low stock and ETF fees / Free stock trading
|
• High fund fees
|
|
• No withdrawal fee
|
• Inactivity fee
|
| Zacks Trade | Brokerpoint | |
|---|---|---|
| Apple benchmark fee | $2.3 | $4.3 |
| Vodafone benchmark fee | $27.9 | $5.3 |
| EURUSD benchmark fee | - | $13.9 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Zacks Trade offers fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slow
|
|
• No minimum deposit
|
• Not user-friendly
|
| Zacks Trade | Brokerpoint | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | >3 days | >3 days |
If you are interested more in Zacks Trade minimum deposit, this overview will help you.
Deposit and withdrawal
Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
|
|
• Several account base currencies
|
|
| Zacks Trade | Brokerpoint | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Zacks Trade web platform is simple and easy to use, even for beginners.
| Pros | Cons |
|---|---|
|
• User-friendly
|
None |
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Zacks Trade | Brokerpoint | |
|---|---|---|
| Web platform score | 3.8 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 3.8 stars |
| Desktop platform score | 3.8 stars | 3.0 stars |
Learn more about Zacks Trade's web trading platform in the detailed Zacks Trade review.
Markets and products
Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker; along with US funds and options. However, you can't trade futures or forex.
| Zacks Trade | Brokerpoint | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| CFDs | No | Yes |
| Crypto | Yes | Yes |
Verdict
Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA. It is an introducing broker of Interactive Brokers, and as such shares many of its features.
On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.
There are some drawbacks though, as its desktop trading platform and research tools may be too complex for some. The account opening is complicated and slow. Unlike Interactive Brokers, Zacks doesn't support trading CFDs, futures or forex.
As Zacks Trade provides a demo account and there's no mandatory minimum deposit, feel free to try it.
| Zacks Trade | |
|---|---|
| Summary | Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash). |
| Fees score | 4.0 stars |
| Recommended for | Traders and investors looking for comprehensive research tools, a wide product selection and low fees |
Brokerpoint alternatives
Interactive Brokers
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. 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).
Given that the broker has licenses from multiple top-tier regulators, has a long track record and publicly disclosed financials while being listed on a stock exchange; it all points towards IB being a safe service provider.
Interactive Brokers recently launched a new app for global stock trading:. GlobalTrader is a simple platform where you can trade stocks and ETFs. If you are looking to trade only those two assets, GlobalTrader is the solution for you, since you will not get distracted with the other unnecessary information about other asset classes. In addition, you will have a more convenient time navigating through its simple user interface. It is also easier and quicker to create a GlobalTrader account than to create an Interactive Brokers account. Read our review of IBKR GlobalTrader
In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.
Recommended for traders looking for broad market access 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
|
• Understaffed customer service
|
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
None |
|
• Free stock and ETF trading for US clients
|
|
|
• Low margin rates
|
|
| Interactive Brokers | Brokerpoint | |
|---|---|---|
| Apple benchmark fee | $2.3 | $4.3 |
| Vodafone benchmark fee | $7.6 | $5.3 |
| EURUSD benchmark fee | $14.7 | $13.9 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
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
|
|
| Interactive Brokers | Brokerpoint | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | >3 days |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• Several account base currencies
|
|
|
• First withdrawal free each month
|
|
| Interactive Brokers | Brokerpoint | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• User experience could be better
|
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Interactive Brokers | Brokerpoint | |
|---|---|---|
| Web platform score | 3.8 stars | 5.0 stars |
| Mobile platform score | 3.5 stars | 3.8 stars |
| Desktop platform score | 3.8 stars | 3.0 stars |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | Brokerpoint | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | Yes |
| Funds | Yes | Yes |
| Bonds | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
Interactive Brokers is one of the biggest US-based lowest spread brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.
On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools.
There are some drawbacks, however. We weren't satisfied with the quality of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, 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 is 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 | 4.5 stars |
| Recommended for | Traders looking for broad market access and a professional trading environment |
Brokerpoint alternatives
Brokerpoint
Brokerpoint is a global stockbroker that was founded in Germany in 2017. It is an introducing broker to IBIE, the Irish entity of Interactive Brokers, one of the largest brokers in the world. IBIE is regulated by the Central Bank of Ireland.
It is an introducing broker to Interactive Brokers (IB), one of the largest brokers in the world:
- The account opening and deposit/withdrawal options are very similar to Interactive Brokers.
- The trading platforms and available products are exactly the same as at Interactive Brokers.
- Fees, however, are charged by Brokerpoint, not by Interactive Brokers.
- Brokerpoint offers its own customer support but has no educational tools.
Brokerpoint is considered safe because it is regulated by a top-tier financial authority. However, it doesn't have a long track record of operation.
Recommended for investors and traders from europe interested in global markets
| Pros | Cons |
|---|---|
|
• Low stock and ETF fees
|
• Weak customer service
|
|
• Wide range of products
|
• High futures and options fees
|
|
• Many great research tools
|
• No educational tools
|
Fees
Brokerpoint has low trading and non-trading fees, including no deposit or withdrawal fees. On the other hand, fees for futures and options trading are high.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• High futures fees
|
|
• Low stock and ETF fees
|
• High options fees
|
|
• No withdrawal fee
|
|
| Brokerpoint | CapTrader | TradeStation | Zacks Trade | Interactive Brokers | |
|---|---|---|---|---|---|
| US stock | $2.0 | $2.0 | $0.0 | $1.0 | $1.0 |
| UK stock | $2.3 | $9.0 | - | $13.6 | $3.4 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
Brokerpoint's account opening process is fully digital, without a required minimum deposit. However, the process is complicated and account verification is relatively slow.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slow
|
|
• No minimum deposit
|
• Not user-friendly
|
| Brokerpoint | CapTrader | TradeStation | Zacks Trade | Interactive Brokers | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $0 | $0 | $0 |
| Time to open account | >3 days | >3 days | 1 day | >3 days | 1-3 days |
Learn more about Brokerpoint minimum deposit here.
Deposit and withdrawal
Both depositing and withdrawing funds is free at Brokerpoint, and the process is user-friendly. On the negative side, bank transfer is the only option available.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• Limited number of base currencies
|
|
• User-friendly
|
|
| Brokerpoint | CapTrader | TradeStation | Zacks Trade | Interactive Brokers | |
|---|---|---|---|---|---|
| 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 | $0 | $0 | $0 |
Web trading platform
Brokerpoint's WebTrader platform is user-friendly, has a clear fee report and is accessible via a safe two-step login process.
| Pros | Cons |
|---|---|
|
• User-friendly
|
None |
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Brokerpoint | CapTrader | TradeStation | Zacks Trade | Interactive Brokers | |
|---|---|---|---|---|---|
| Web platform score | 5.0 stars | 4.3 stars | 3.8 stars | 3.8 stars | 3.8 stars |
| Mobile platform score | 3.8 stars | 3.5 stars | 4.8 stars | 3.5 stars | 3.5 stars |
| Desktop platform score | 3.0 stars | 3.5 stars | 2.3 stars | 3.8 stars | 3.8 stars |
Learn more about Brokerpoint's web trading platform in the detailed Brokerpoint review.
Markets and products
An extremely wide range of markets is accessible through Brokerpoint, and all product types except for crypto are available.
| Brokerpoint | CapTrader | TradeStation | Zacks Trade | Interactive Brokers | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No | Yes |
| Funds | Yes | Yes | Yes | Yes | Yes |
| Bonds | Yes | Yes | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | No | Yes |
| CFDs | Yes | Yes | No | No | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
Verdict
Brokerpoint is a global stockbroker for investors and traders, and an introducing broker to Interactive Brokers. As its trading platform is quite complex, we recommend this broker mainly for advanced traders.
On the plus side, Brokerpoint has low trading and non-trading fees and offers a wide range of markets and products. The account opening process is fully digital and requires no minimum deposit.
There are some drawbacks, though. Brokerpoint charges high fund, futures, and CFD trading fees. Moreover, the broker does not provide proper educational tools and its trading platforms are complicated.
If you have experience navigating complex platforms and enjoy low-cost trading, Brokerpoint could be a great fit for you.
| Brokerpoint | |
|---|---|
| Summary | Brokerpoint is a Germany-based global stockbroker for investors and traders. It is an introducing broker of Interactive Brokers IE, which is regulated by the Central Bank of Ireland. |
| Fees score | 4.1 stars |
| Recommended for | Investors and traders from Europe interested in global markets |
Brokerpoint alternatives
Bottom line
Based on our analysis, there are several good alternatives to Brokerpoint. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Brokerpoint | Global stockbroker | Investors and traders from Europe interested in global markets |
| CapTrader | Global broker providing all asset classes | Investors and traders looking for low fees and sophisticated trading platforms |
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
| Zacks Trade | US discount broker | Traders and investors looking for comprehensive research tools, a wide product selection and low fees |
| Interactive Brokers | International broker providing all asset classes | Traders looking for broad market access and a professional trading environment |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
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