Page Summary
In this review, we offer details about the best trading platforms in Barbados. We have analyzed 174 brokerage firms and tested their platforms in 8 categories. We considered all aspects of their offering, including fees, platforms, mobile apps, assets, funding options, licenses, customer service, research, and education.
Trading platforms that have the highest scores are below.
Top 5 Trading Platforms in Barbados
- Capital.com – Top choice for traders looking for a discount broker
- Interactive Brokers – Broker with a well-rounded offer of tradable markets
- Forex.com – Great for users looking to trade forex and CFDs
- IQ Option – Low spreads and a sophisticated platform
- Sarwa – Suitable for both beginner and professional traders
Best Online Trading Platforms Barbados
| PLATFORM | SCORE | GENERAL INFO | MINIMUM DEPOSIT | |
| #1 | Capital.com | 4.7 | Top choice for traders looking for a discount broker | $20 |
| #2 | Interactive Brokers | 4.9 | Broker with a well-rounded offer of tradable markets | $0 |
| #3 | Forex.com | 4 | Great for users looking to trade forex and CFDs | $100 |
| #4 | IQ Option | 4.7 | Low spreads and a sophisticated platform | $10 |
| #5 | Sarwa | 4.7 | Multiple order types available | $5 |
The section below breaks down the best trading platforms in Barbados, beginning with the highest-rated…
1. Capital.com – Best Trading Platform For Educational Content
Min Deposit: $20
Fees: 4.8
Assets available: 4.7
Total Fees:
Capital.com is a leading discount broker with excellent learning tools and resources. It offers a premium trading experience and professional tools. Capital.com has a comprehensive portfolio with access to CFDs on cryptos, indices, stocks, forex pairs, and commodities.
This broker has top-tier licenses from the FSA, CySEC, ASIC, and FCA. Select this broker if you’re searching for an outstanding mobile trading experience and a professional web platform. The minimum deposit at Capital.com is low.
Pros
- Newsroom grade educational videos and analysis
- Award winning education and research section
- New age mobile trading app
- Real time market updates and price alerts
- Hedging and risk management tools
Cons
- MT4 and MT5 not available
- Market access is industry average
Key features
- Access to 6.000 tradable symbols and 477 cryptocurrency CFDs
- High quality research and educational content
- Patented AI trade bias system
- $20 minimum deposit
- No inactivity fees
2. Interactive Brokers – Best Platform With A Versatile Portfolio
Min Deposit: 0 ($2000 for margin account)
Fees: 4.9
Assets available: 4.9
Total Fees:
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Interactive Brokers is a highly-trusted brokerage firm with an excellent service and asset portfolio. It offers access to valuable educational content and many tradable markets. Interactive Brokers is a secure broker with an industry-leading platform. It has an excellent fee structure and no hidden costs.
The Global Trader platform is their entry-level service for beginners and intermediate traders. The Trader Workstation desktop platform is a top choice for advanced traders.
Pros
- Best market coverage in the industry (100k+ assets on different instruments)
- Access to 16,500 shares and 8,000 stocks as CFDs
- Professional trading platform suitable for different types of traders
- Intuitive and easy to use mobile trading app
- Industry leading fee structure
- Compatible features for casual and professional traders
- Responsive customer support
Cons
- Few deposit and withdrawal options
- Research and education materials missing
Key features
- Margin loan rates on stocks of 1.3%
- Access to 135+ global markets
- Advanced order types, tools and features
- Access to frictional shares
- Lowest commissions in the industry
3. Forex.com – Best Platform For Forex And CFD Trading
Min Deposit: $100
Fees: 3.7
Assets available: 4.1
Total Fees:
Forex.com is a powerful forex broker with excellent forex and CFD trading services. It has a feature-rich platform with advanced social trading tools. Forex.com has great asset coverage and offers stocks, currencies, and cryptocurrencies.
This broker stands out because of its learning resources, impressive market research, and forex education materials. Traders receive competitive fees depending on their trading volume.
Pros
- Great market coverage
- Advanced Trading and Web Trading platforms
- Advanced charting features and performance analytics
- Award Winning Mobile trading app
- Professional customer support
- Competitive fee and commission structure
Cons
- Educational videos are missing
- MT5 available outside of US only
- Limited assets available on MT5
Key features
- 5500 tradable symbols and 4550 CFDs overall
- Award winning mobile trading app
- Advanced charting and performance analytics available
- Great combination of ease of use and personal customisation
- Publicly traded
4. IQ Option – Best Trading Platform With Low Spreads
Min Deposit: $10
Fees: 3.3
Assets available: 2.0
Total Fees:
IQ Option has a long track record in the industry as a secure broker with low spreads and a sophisticated platform. It offers forex, CFDs, and options trading services. The IQ Option trading platform is well-designed and provides access to many services. This broker has a free demo account and excellent customer service in English.
IQ Option is a secure broker with a top-tier license from the CySEC. It follows the highest standards of regulation in the industry.
Pros
- Multi-chart platform layout with technical analysis
- Fast trade execution
- 24/7 customer support in Arabic and English
- Free demo account with $10.000 virtual money
- Leverage of up to 1:1000
Cons
- Trading fees are above industry average
- Inactivity fee $10/90days
Key features
- Access to a wide variety of markets
- Great research and education tools
- User friendly platform
- $10 minimum deposit and $1 minimum trade requirement
- Access to 3000+ tradable symbols
5. Sarwa – uitable for both beginner and professional traders
Sarwa, founded in 2017, is the most popular DFSA and FSRA-regulated Robo-Advisor for both beginner and professional Dubai-based investors. It features an automated trading platform that offers investors the opportunity to invest in multiple mutual funds and ETFs or trade the markets themselves according to their risk appetite.
Sarwa has low trading fees, offers personalized investment options, and is backed by robust technology, making investing and portfolio management easy and accessible to its users.
Pros
- Suitable for both beginner and professional traders
- Option to visit their offices in Dubai or Abu Dhabi and receive direct investment advice
- Competitive trading fees
Cons
- Few banking options
Key features
- Invest in or trade over 2,000 US stocks, ETFs, and cryptocurrencies
- 5 differently diversified portfolios available to invest in
- Physical offices in Dubai and Abu Dhabi
- Well-suited for both beginner and advanced traders and investors
- Multiple order types available
- Access to historical and real-time price data
- Transfer money without paying any fees from local UAE bank accounts
How To Pick The Right Platform?
To pick the right trading platform, you have to consider key aspects such as fees, platforms, mobile apps, funding options, customer service, assets, liquidity, and safety protocols.
Fees: Select a brokerage firm with a straightforward fee structure and avoid brokers with high trading costs and hidden fees. Commission and spread fees are common with Barbados brokerage accounts.
Trading Platforms: Platforms need to be user-friendly and offer access to reliable tools and indicators. We recommend you consider a platform with built-in market data and tools suitable for traders at all levels.
Mobile Trading: Mobile apps need to offer the same tools and charts as their web versions. Select mobile platforms with full-screen charting options, market news, and social feeds.
Deposit & Withdrawal: Deposit and withdrawal need to be user-friendly. Select a provider that has your preferred funding solution and a transparent fee structure.
Assets: Consider a platform with coverage of your preferred assets. Traders in Barbados receive access to many asset classes, including forex, cryptos, ETFs, futures, and indices.
Regulation: Online brokers with top-tier licenses comply with strict rules and provide industry-leading safety measures. We recommend traders choose platforms with CySEC, FCA, and ASIC licenses.
Research & Education: New and average traders need to use the services of a broker with different research and education tools, including webinars, market data, and personal account managers.
Customer Support: New traders need access to responsive and reliable customer service available in their language.
*Islamic Accounts: All platforms from our list offer Islamic account options. This gives users the chance to trade online in compliance to Sharia law.
Regulation Of Trading Platforms In Barbados
The Financial Services Commission (FSC) controls regulation for trading platforms and financial activities in Barbados. All providers that offer online trading and investment services need to have a license from the FSC. The FSC enforces all relevant rules and regulations in Barbados.
License Verification
You can perform license verification by accessing the main website of the FSC. Access the documents section and look out for the name of the broker. If the broker has its headquarters outside Barbados, you need to verify the official websites of ASIC, FINRA, FCA, BaFIN, or CySEC. Check their database of Registered Entities. If the search doesn’t offer any results, you might be dealing with an unregulated platform or broker.
Conclusion
Based on our review, we consider eToro as the best trading platform for Barbados residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features, and responsive customer support.
Capital.com is the second-best trading platform for Barbados residents, because of its low fees, advanced trading tools, copy trading features, and responsive customer support. Interactive Brokers, Forex.com, and IQ Option wrap up our list of top platforms with a great overall offer and above-average ratings.
FAQ
Are There Commission-Free Platforms In Barbados?
Yes, there are platforms available in Barbados that offer access to 0% commission trading.
How Much Should I Invest When Day Trading in Barbados?
We recommend you start with the minimum deposit amount. On average, online brokers have a minimum requirement of $50.
Is Crypto Trading Available In Barbados?
Yes, crypto trading is available in Barbados. The main platforms offer crypto trading via CFDs.
How To Check If A Platform Has a Valid License?
If you want to verify if a platform has a valid license, you should access the FSC official website.
Do Trading Platforms Need A License?
Yes, secure online brokers get a license for their services and trading platforms. All providers have to receive at least one license to offer their services in Barbados.
Are There Any Safety Risks For Traders In Barbados?
Day trading comes with many risks. Online trading activities in Barbados are legal. But you have to use the services of a secure broker that follows strict rules and has top-tier licenses.
Do You Need A Mobile Trading App?
Most traders need access to a mobile app to match their trading needs and style. We recommend you use platforms with intuitive interfaces and responsive mobile apps.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.