GUIDE TO CHOOSING A SAFE BROKER TO INVEST IN STOCKS AND ETFs
My name is Norberto. I've been investing and trading for over a decade. I'm also the author of the Topstep Experience trading course. If you want to learn how to invest and have any questions, feel free to contact me.
Your first stockbroker?
RECOMMENDED Broker
MEXEM: an option for investing in international markets
MEXEM stands out for combining access to stocks, ETFs and other instruments with a professional platform, competitive fees and support in Spanish.
In this article I will tell you which are the best brokers for stocks according to the opinions, comments and ratings of the trading community.
Criteria to consider when selecting a broker to invest in stocks:
✅ Regulations and safety:
- Regulated entity: Verify that the broker is regulated by a reputable and prestigious financial institution.
- Fund protection: Investigate whether the broker offers fund protection for investors.
- History and reputation: Research the broker's track record and reputation in the industry. Look for reviews and opinions from other investors.
✅ Commissions and fees:
- Trading fees: Compare broker trading fees for different types of trades, such as buying and selling stocks, options, futures, etc.
- Custody fees: Investigate whether the broker charges fees for holding your assets in custody.
- Additional fees: Be aware of other potential fees, such as inactivity fees, withdrawal fees, etc.
✅ Trading platform:
- Ease of use: The trading platform should be easy to use and intuitive, even for beginners.
- Features and tools: Investigate the features and tools available on the platform, such as charts, technical indicators, analysis tools, etc.
✅ Products and services:
- Variety of assets: Research the variety of assets offered by the broker, such as stocks, options, ETFs, bonds, etc.
- Research tools: Investigate whether the broker offers research tools to help you make informed investment decisions.
- Educational services: Investigate whether the broker offers educational services, such as webinars, courses, or training materials (What is the best trading course?).
✅ Customer service:
- Availability and support channels: Research the availability of customer service and the support channels it offers, such as phone, email, chat, etc.
- Customer service reputation: Research the broker's customer service reputation and reviews from other investors.
- Support in your language: If it's important to you, check if the broker offers customer support in Spanish.
Click here if you want to see the ranking of the best brokers for beginners
Top 5 best brokers for stocks and ETFs
- MEXEM: a very complete broker with the best customer service.
- XTB: the best broker for investing in stocks and investment plans
- eToro: one of my favorite brokers for copy trading stocks
- Interactive Brokers: the best broker for long-term stock
- DEGIRO (Europe only): a simple broker for investing in stocks
Next, I will explain in detail the reasons why I choose each of these brokers.
🏆MEXEM: The most recommended by investors and traders
- Read reviews and full analysis of MEXEM
- More information: www.mexem.com
- The supply of assets available for trading is one of the largest in the market
- Customer service is one of the best
- The broker's strict regulation
- Very low commissions
- Deposit and withdrawal options are very limited (only WISE and bank transfer)
Why choose MEXEM to invest in stocks?
MEXEM is designed for investors who want to diversify internationally without sacrificing security or a more human touch, a rare combination among the market's major brokers.
Furthermore, MEXEM is regulated by CySEC and supervised by agencies in Spain, Belgium, and the Netherlands, which adds an extra layer of trust. This broker's offering stands out for its vast array of products (stocks, ETFs, options, bonds, futures) and for its top-notch customer service, which is one of its strongest points.
At MEXEM you'll find every stock imaginable: Chinese, American, European. So, if you're looking for a broker to buy and sell stocks securely, look no further. This is the broker for you.
What do MEXEM users think?
Do you have doubts and don't know where to start?
Speak with a MEXEM expert , they will guide you step by step through the process of opening your account.
MEXEM assistance in Spanish:
- 📞 910 602 762
📧 asistencia@mexem.com
🔒 Your money is protected by the strictest European regulations (CNMV, CySEC, Bafin, among others).
MEXEM assistance in Spanish:
- 📞 910 602 762
📧 asistencia@mexem.com
✅ The best of MEXEM according to users
- Low costs on routine transactions, especially stocks/ETFs
- Transparency and professionalism in their communications
- Good support and responsive customer service — some mention quick responses via WhatsApp or other channels
- Access to many trading tools and markets thanks to its link with Interactive Brokers
- It does not charge maintenance fees, fees for inactive accounts or deposits
- First monthly withdrawal free (although subsequent withdrawals may incur a cost)
- Automatic handling of certain local taxes for some countries, which saves some users administrative work
Direct access to global markets with competitive rates
- ✔️ Trades over 135 markets in stocks, ETFs, options, futures and more.
- ✔️ Professional platform with advanced tools for active traders.
- ✔️ Customer service in Spanish and personalized support in Europe and LATAM.
- ✔️ Broker regulated by CySEC and with European protection standards.
XTB
- Read reviews and full XTB review
- More information: www.xtb.com
- Top-tier regulation: FCA (UK), CySEC (Cyprus), CNMV (Spain), BaFin (Germany)
- It has physical offices in Spain and Latin America, and offers customer service in Spanish
- No commissions on volumes below €100,000/$
- It offers a wide range of stocks and ETFs for spot trading
- It offers customized investment plans
- Demo account operational for thirty days only
- Inactivity fee of €10/month for accounts inactive for more than 12 months
Why choose XTB?
The main reason XTB is included in this ranking of the best stock brokers is that it doesn't charge commissions on stock trades under €100,000. Furthermore, it waives custody, dividend collection, and maintenance fees.
XTB is a broker of Polish origin. It is duly regulated by several leading bodies, including the UK's Financial Conduct Authority (FCA) , Germany's BaFin , and Spain's National Securities Market Commission (CNMV)
Leaving aside security, you should know that we are talking about a broker that has a wide catalog of financial instruments, with more than 2,000 spot shares and more than 200 ETFs to choose from (although the truth is that then almost all of us opt for the same ETFs: Gold and S&P 500).
The trading platform offered by XTB also does not leave anyone indifferent: xStation.
This platform works online without needing to be downloaded, although it also has a mobile version (xStation mobile). It might take a little getting used to at first, but once you familiarize yourself with the interface, you'll see how easy it is to do everything.
What XTB users are saying
✅ The good things about XTB (according to users)
- Competitive commissions: It offers commission-free trading on stocks and ETFs up to a monthly volume of €100,000, making it attractive for long-term investors.
- xStation 5 platform: Notable for its intuitive design and advanced tools, such as account statistics and market scanners.
- Strong regulation: Regulated by top-tier authorities such as the FCA (UK), CNMV (Spain) and CySEC (Cyprus), which gives users confidence.
- Interest on uninvested balances: Offers competitive interest on uninvested funds, for example, up to 4.9% in some currencies.
- Wide range of instruments: Access to over 3,000 real shares, ETFs and a variety of CFDs on forex, indices, commodities and cryptocurrencies.
⚠️ The not-so-good (according to users)
- Currency conversion fee: A 0.5% fee is applied when converting currencies, which may affect those who invest in international markets.
- Inactivity fee: Charges €10 per month after 12 months of no activity on the account, which may be a disadvantage for passive investors.
- Limitations on external platforms: It does not offer support for popular platforms such as MetaTrader 4 or 5, which may be a drawback for some traders.
- Fees for large portfolios: A custody fee applies to accounts exceeding €250,000, which may be a consideration for high-net-worth investors.
A reliable platform for investing in stocks, ETFs, and more
- ✔️ Invest in real stocks and ETFs with no commissions (up to $100,000/€ per month).
- ✔️ Intuitive platform with advanced graphics and real-time news.
- ✔️ 100% Spanish customer service and physical offices in Spain and LATAM.
- ✔️ Broker regulated by the FCA (UK) and other European authorities.
XTB Awards and Recognitions
ETORO
- Read reviews and full eToro reviews
- More information: www.etoro.com
Remember: Copying an investor's trades is not investment advice. The value of your investments can go down as well as up. Your capital is at risk.
- The usability of the platform and the mobile app
- The possibility of making deposits and withdrawals with virtual wallets
- It offers one of the best options in social trading (copy trading)
- The range of available products
- Quick and easy account opening
- It offers a demo account so you can practice before you start trading with real money
- The shares are not registered in your name (this is not ideal for the long term)
- Some of the commissions or spreads offered by the broker are above the industry average (depending on the asset you trade)
- Short selling is not allowed with spot shares
How reliable is eToro for investing?
eToro is a broker with a unique feature: it offers a broad social trading network. However, it also allows for investment and trading operations with spot stocks, ETFs, and other instruments.
This broker was founded in Israelback in 2007.Its founders had a very clear objective: to make online trading more accessible.
However, the biggest milestone in his career came in 2010 when he launched a platform dedicated to copy trading. No one could have imagined that in less than a decade he would become the leading broker in social trading (he has the largest network in existence, a fully-fledged community of traders). This platform, called OpenBook, represented a true revolution in the way people invest.
Over time, it integrated all the functions into a single platform, and the trader, upon accessing it, can perform both social trading and their own trading; all in one.
However, although its trading platform is proprietary, fully online and simple, it has little possibility of customization.
eToro is on this list of the best spot stock and ETF brokers, not only for offering the possibility of investing by copying the trades of other traders, but also because it has eliminated trading commissions on ETFs.
This broker is also properly regulated and offers security guarantees for client funds. It is regulated by the UK's FCA, Australia's ASIC, and Cyprus' CySEC (from where it typically serves most of its clients).
eToro Reviews
✅ The best of eToro according to users
- Intuitive and easy-to-use platform: eToro stands out for its user-friendly interface, both in its web version and in the mobile application, facilitating navigation and execution of operations for users of all levels.
- CopyTrading Functionality: Allows users to automatically replicate the trades of experienced traders, which is especially useful for novice investors looking to learn and diversify their strategies.
- Wide range of assets available: Offers access to over 6,000 financial instruments, including stocks, ETFs, cryptocurrencies and more, allowing investors to diversify their portfolios on a single platform.
- Free demo account: Provides a demo account with $100,000 virtual funds for users to practice and familiarize themselves with the eToro platform.
⚠️ The worst things about eToro according to users
- High commissions and spreads: Although eToro offers commission-free trading on stocks and ETFs, it applies relatively high spreads, especially on cryptocurrencies and CFDs, which can affect the profitability of trades.
- Withdrawal and currency conversion fees: Charges a flat fee of $5 per withdrawal and applies a currency conversion fee, which may be a disadvantage for users who trade in currencies other than USD.
- Limitations in cryptocurrency trading: It does not allow direct cryptocurrency exchange (crypto-to-crypto) and has restrictions on the withdrawal of crypto assets, which can be a drawback for cryptocurrency traders.
- Performance and support issues: Some users have reported slow application performance and difficulties contacting customer support, especially during times of high market volatility.
Invest with eToro: social trading and a wide variety of assets
- ✔️ Pioneering copy trading platform, ideal for beginners.
- ✔️ Access stocks, ETFs and cryptocurrencies in more than 16 global markets.
- ✔️ Strong regulation: FCA (UK), CySEC (Cyprus) and ASIC (Australia).
- ✔️ Minimum deposit from $50 and free and unlimited demo account.
- ✔️ Intuitive interface and high-performance mobile application.
Investing involves risk. Past performance is not indicative of future results. Make sure you understand the products before investing.
INTERACTIVE BROKERS
- Read reviews and opinions of Interactive Brokers
- More information: www.interactivebrokers.com
- the amount of available assets
- regulation (this is one of the best regulated brokers worldwide)
- There are no different deposit and withdrawal options; everything is limited to bank transfers
The best broker for the long term?
Here we have one of the most reputable brokers in the industry: Interactive Brokers (www.interactivebrokers.com). A broker with a global presence, solid experience (founded in 1978), and regulated in the United States (headquartered in Greenwich, Connecticut).
Interactive Brokers ' safety and reliability are not in question, given its impeccable track record, its headquarters in numerous countries, and its oversight by a large number of regulatory bodies , some of them top-tier, such as the US SEC, the UK FCA, the Bank of Ireland, etc.
Furthermore, it is listed on the NASDAQ (which obligates it to undergo audits and publish financial statements). Throughout its more than 40 years of operation as a financial services intermediary, it has received numerous awards and accolades as a top broker.
From a single account, traders can access spot stocks, futures, options, warrants, ETFs, indices, bonds, and even investment funds and structured products. It may well be the broker that offers the largest catalog of investment products.
Regarding their fees, while they're not a commission-free broker for spot stock trading, they are quite competitive. They offer both fixed commission structures and tiered commission structures (based on trading volume).
However, ETFs are exempt from commissions, which is another point in favor of this prestigious stockbroker.
Interactive Brokers ' problem is not one of reliability (since, as I said before, its regulation is among the strictest), but of usability.
The trading platform (TWS) isn't the most user-friendly, and email support is generally only available in English (Spanish support is gradually being added). However, I have found the telephone support to be very good the few times I've had to use it. Interactive Brokers for inquiries in Spanish is: 0080042276537.
I must confess that the service is not bad, but it could be much better.
In summary, the usability of the platform (TWS), the customer service (often only in English) and the deposit and withdrawal options are the only things that detract from this renowned broker.
I usually use this broker for long-term investing (5 to 10 years). For short- to medium-term investments, I prefer other options like eToro or XTB.
Advantages of Interactive Brokers
- A broker with extensive experience and good service.
- Rated the best online broker on numerous occasions. Its reputation speaks for itself.
- A wide range of financial instruments to trade.
- Trading platform in its desktop and web versions.
- Highly competitive rates for spot shares and commission-free for ETFs.
Reviews of Interactive Brokers
✅ The best of Interactive Brokers according to users
- Low commissions and tiered structure: IBKR offers a competitive commission structure, especially in the tiered plan, where fees can be as low as 0.05% per transaction, depending on volume and market.
- Wide range of products and markets: Allows trading in more than 150 global markets, including stocks, ETFs, options, futures, currencies, bonds and cryptocurrencies, facilitating portfolio diversification.
- Advanced platforms and professional tools: Their Trader Workstation (TWS) platform is highly configurable and offers advanced tools for technical analysis, portfolio management, and complex order execution.
- Security and solid regulation: IBKR is regulated by multiple top-tier financial entities, such as the SEC in the US and the FCA in the UK, giving investors confidence.
- Free demo account with no minimum deposit: Offers a demo account to practice strategies without risk and does not require a minimum deposit to open a real account.
⚠️ The worst thing about Interactive Brokers according to users
- Complex interface for beginners: The TWS platform can be overwhelming for novice users due to its wide range of features and customization options.
- Currency conversion fees: A currency conversion fee applies, which may affect those who trade in markets with currencies other than their base account currency.
- Limitations on the purchase of certain ETFs for European residents: Due to regulations such as MiFID II, EU residents may have restrictions on purchasing some US ETFs, although European alternatives are available.
- Detailed account opening process: The account verification and opening process may be more extensive compared to other brokers, requiring additional documentation.
General characteristics of Interactive Brokers
| 💵 Broker type | Futures, options, Forex, and stock market broker. |
| 🌎 Headquarters | USA |
| 🏅 Regulation | SEC, IIROC, FCA, CSSF, CBI, ASIC, CNMV |
| 💼 Financial instruments | Stocks, Forex, Metals, ETFs, Investment Funds, Futures, Bonds, Options, Stock Indices, Options, Warrants. |
| 📈 Platforms | Client Portal, Trader Workstation, Mobile App |
| 💰 Minimum Deposit | $0 for a Cash Account ($2,000 for a Portfolio Margin Account) |
| 💻 Demo account | Free for customers |
DEGIRO (Europe only)
- See reviews and opinions of DEGIRO
- More information: www.degiro.es
Is DEGIRO the broker you need?
DEGIRO (www.degiro.es) is one of the most widely used brokers (especially in Spain) for investing in stocks. This is due to a number of reasons that have led to its inclusion in the list of the best brokers for spot stocks and ETFs.
DEGIRO It began offering services to retail clients in 2015. is a Dutch financial broker, founded in 2008 to serve professionals. Since then, it has rapidly expanded across Europe , becoming a true leader on the continent.
It has won more than 80 international awards, including the best rated investment platform and app in 2020 by Investors Chronicle & Financial Times (UK) and the best intraday broker 2020 by Brokerwahl (Germany).
DEGIRO is a secure broker; regulated by the Dutch Authority for the Financial Markets (AFM) and also supervised by the Dutch Central Bank (DNB). Therefore, it offers all the security guarantees imposed by the European MiFID Directive (furthermore, being European regulated, it is also registered with the Spanish National Securities Market Commission).
This broker also stands out for offering some of the most competitive fees on the market. It's even possible to trade spot stocks and ETFs for around 80% less than the average of its competitors.
Their product offering includes stocks, ETFs, bonds, futures, options, and even mutual funds. Unfortunately, access to the Forex market is not available through this broker (What are the best brokers for Forex trading?).
As for its investment platform, it's actually a very simple model. For novice traders, this can be an advantage.
Why DEGIRO?
- It has very competitive rates.
- Ease of use of the platform.
- European regulation. This provides full protection for client funds as mandated by EU law.
- Extensive catalog of markets for trading stocks and ETFs.
DEGIRO Reviews
Frequently asked questions about brokers for investing in stocks
Which is the best broker to start investing in stocks?
Which broker is the safest?
In our ranking of 'best stockbrokers' we only consider regulated brokers.
How can you tell if a broker is good?
Other criteria to consider include: customer service, the platforms offered, the mobile app, commissions, deposit/withdrawal options, etc.
Depending on the type of investor or trader you are, you will value some of these criteria more than others.
How much money do I need to open an account with the broker?
Who controls the brokers?
Since the UK's departure from the EU with Brexit, many brokers that were under the umbrella of the British regulator and operated in Europe sought to continue operating in Europe through regulation by Cyprus (CySEC).
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