What is a Broker?

You need a broker to buy and sell shares on your behalf
A brokerage account is like a bank account for investing

So you’ve decided to become an investor, but how do you go about actually buying shares?

Shares can only be purchased by a licensed professional called a stockbroker. These are licensed and accredited professionals who ensure that trades are conducted with all the necessary legal and regulatory procedures. A stockbroker will buy and sell shares on your behalf in exchange for a fee.

Stockbrokers, therefore, act as a middleman between investors and the market. Much like if you’re feeling unwell, a doctor provides you a prescription, and the pharmacist fulfils that prescription. This is essentially the function of the stockbroker.

Choosing a Broker

To find the best broker for you, you need to evaluate your needs as an investor.

Here are some things you should consider:

Availability for your region/citizenship
What Stock Exchanges do you want to invest in and are they supported by that broker
What fees apply with the broker
Does the broker offer mobile and/or web accessibility

Brokers Worldwide

We have collected a list of other popular brokers that our members use and separated them out into the regions where they are available. The below broker-dealers are all used by our members in a long-term investing capacity.

Find your region below and expand the list to see brokerage options available to you:

DEGIRO

- €1 commission + €1 handling fee for trades on the US stock market
- No withdrawal fee
- Access to US, Canadian and many European exchanges as well as Some Asian and Oceania exchanges
- A mobile app is available

Interactive Brokers

- Stocks available in the US, Canadian, and Mexican Stock Exchanges, as well as 19 different European countries and their respective Stock Exchanges
- Low commission fees
- Offers fractional trading for as little as 0.001 of a share
- Withdrawal fees apply: $12 for a wire transfer and $2 for any withdrawal made by BACS/GIRO/ACH/EFT/SEPA
- A mobile app is available

Revolut

- Offers 3 x commission free trades each month for a standard plan. After which the commission charge is 0.25% per trade
- Account fee is currently 0.12% of the market value of your assets which is charged monthly
- Sell orders can incur a minimum charge of $0.01 and a maximum charge of $6.49
- Fractional trading is available
- Mobile-only service

eToro

- Offers fractional trading, with investments beginning at just $10
- 0% commission
- Access to 2000+ stocks from 17 different exchanges
- $5 withdrawal fee and the minimum withdrawal amount is $30 dollars. Withdrawals to other currencies are subject to conversion fees
- A mobile app is available

Freetrade

- Offers commission free trades on all plans.
- Access to additional exchanges requires subscription
- Fractional trading is available
- Mobile-only service

Fidelity

- Offers $0 commission for online U.S. stock trades
- Charges apply for sell orders - which is okay if you are a long-term investor
- Fractional investing - you can invest in a percentage of a stock, based on how much money you are willing to invest, rather than buying a whole share
- Mobile, iPad, and Tablet app for easy trading

TD Ameritrade

- Offers commission-free online trading for US-listed stocks and ETFs
- Withdrawal fees apply: $25 for a wire
- Does not offer fractional trading
- Recently been acquired by Charles Schwab

E*Trade

- 0% commission fee on all trade
- There is no withdrawal fee if you use an ACH transfer. Withdrawals to other banks using wire transfers will cost $25
- Does not offer fractional trading
- Owned by Morgan Stanley

Interactive Brokers

- Stocks available in the US, Canadian, and Mexican Stock Exchanges, as well as 19 different European countries and their respective Stock Exchanges
- Low commission fees
- Offers fractional trading for as little as 0.001 of a share
- Withdrawal fees apply: $12 for a wire transfer and $2 for any withdrawal made by BACS/GIRO/ACH/EFT/SEPA
- A mobile app is available

eToro (not available in New Zealand)

- Offers fractional trading, with investments beginning at just $10
- 0% commission
- Access to 2000+ stocks from 17 different exchanges
- $5 withdrawal fee and the minimum withdrawal amount is $30 dollars. Withdrawals to other currencies are subject to conversion fees
- A mobile app is available

Stake

- Australian and US markets are available through Stake
- $0 brokerage fees on U.S. trades
- The minimum amount you can withdraw is $10 (USD) with a $2 withdrawal fee on all withdrawals. 1% fee on any currency conversions
- Offers fractional trading for as little as $10
- Recently been acquired by Charles Schwab

Interactive Brokers

- Stocks available in the US, Canadian, and Mexican Stock Exchanges, as well as 19 different European countries and their respective Stock Exchanges
- Low commission fees
- Offers fractional trading for as little as 0.001 of a share
- Withdrawal fees apply: $12 for a wire transfer and $2 for any withdrawal made by BACS/GIRO/ACH/EFT/SEPA
- A mobile app is available

eToro

- Offers fractional trading, with investments beginning at just $10
- 0% commission
- Access to 2000+ stocks from 17 different exchanges
- $5 withdrawal fee and the minimum withdrawal amount is $30 dollars. Withdrawals to other currencies are subject to conversion fees
- A mobile app is available

Interactive Brokers

- Stocks available in the US, Canadian, and Mexican Stock Exchanges, as well as 19 different European countries and their respective Stock Exchanges
- Low commission fees
- Offers fractional trading for as little as 0.001 of a share
- Withdrawal fees apply: $12 for a wire transfer and $2 for any withdrawal made by BACS/GIRO/ACH/EFT/SEPA
- A mobile app is available

Interactive Brokers

- Stocks available in the US, Canadian, and Mexican Stock Exchanges, as well as 19 different European countries and their respective Stock Exchanges
- Low commission fees
- Offers fractional trading for as little as 0.001 of a share
- Withdrawal fees apply: $12 for a wire transfer and $2 for any withdrawal made by BACS/GIRO/ACH/EFT/SEPA
- A mobile app is available

Nigeria specifically

Bamboo

- Unrestricted access to over 3,000 stocks listed on the U.S. stock exchange
- 1.5% commission when you buy or sell stocks on the U.S. stock markets
- Deposit and Withdrawal fees apply
- Supports Naira deposits

Interactive Brokers

- Stocks available in the US, Canadian, and Mexican Stock Exchanges, as well as 19 different European countries and their respective Stock Exchanges
- Low commission fees
- Offers fractional trading for as little as 0.001 of a share
- Withdrawal fees apply: $12 for a wire transfer and $2 for any withdrawal made by BACS/GIRO/ACH/EFT/SEPA
- A mobile app is available

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This website is operated by MyWallSt Ltd (“MyWallSt”). MyWallSt is a publisher and a technology platform, not a registered broker-dealer or registered investment adviser, and does not provide investment advice. All information provided by MyWallSt Limited is of a general nature for information and education purposes, and you should not construe any such information as investment advice. MyWallSt Limited does not take your specific needs, investment objectives or financial situation into consideration, and any investments mentioned may not be suitable for you. You should always carry out your own independent verification of facts and data before making any investment decisions, as we cannot guarantee the accuracy or completeness of any information we publish and any opinions that we publish may be wrong and may change at any time without notice. If you are unsure of any investment decision you should seek a professional financial advisor. MyWallSt Limited is not a registered investment adviser and we do not provide regulated investment advice or recommendations. MyWallSt Limited is not regulated by the Central Bank of Ireland. MyWallSt Limited may provide hyperlinks to web sites operated by third parties. Your use of third party web sites and content, including without limitation, your use of any information, data, advertising, products, or other materials on or available through such web sites, is at your own risk and is subject to the third parties' terms of use.