In this guide, we go over the best trading platforms in Barbados. We have analysed 174 brokers and evaluated their platforms in 8 major categories. We measured all aspects of their service including trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education, customer support and islamic account options.
Trading platforms that reached the highest scoring are considered in the following list:
Top 5 Trading Platforms in Barbados
- eToro – Best trading platform overall
- 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
Best Online Trading Platforms Barbados
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||eToro||4.9||Best trading platform overall||$200|
|#2||Capital.com||4.7||Top choice for traders looking for a discount broker||$20|
|#3||Interactive Brokers||4.9||Broker with a well-rounded offer of tradable markets||$0|
|#4||Forex.com||4||Great for users looking to trade forex and CFDs||$100|
|#5||IQ Option||4.7||Low spreads and a sophisticated platform||$10|
Below section breaks down the best trading platforms in Barbados, beginning with the highest rated…
01. eToro: Best Platform Overall
eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.
As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.
eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
02. Capital.com: Top choice for traders looking for a discount broker
Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.
Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.
Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.
03. Interactive Brokers: Broker with a well-rounded offer of tradable markets
Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
04. Forex.com: Great for users looking to trade forex and CFDs
Forex.com is a well balanced online broker, great for users looking to trade forex and CFDs on a platform with no real downsided. Their multi-asset, features-rich trading platform offers a wide range of proprietary platforms, advanced social trading features and great asset coverage. Forex.com offers trading on over 4500 different CFDs as stock, cryptos, currencies and access to 5500 tradable symbols overall.
Exceptional educational resources, great market research and ease of use make this broker a good choice for beginners. Fees are competitive if you are trading high volume. Standard account fees are above industry average.
05. IQ Option: Low spreads and a sophisticated platform
IQ Option is a well established online broker great for users looking to trade forex, options and CFDs on a intuitive trading platform. Their well rounded offer consists of low spreads, a sophisticated trading platform, free demo account option, and responsive customer support in English language. They offer islamic accounts and copy trading in Arabic language which allows you to copy portfolios from seasoned investors and traders.
IQ Option is a trustworthy and reliable market maker broker commissioned by CySEC and subject to the highest standards of regulation in the industry. Options trading is no longer available.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Barbados include: fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
Fees: Choose a broker with a transparent fee structure and avoid brokerage accounts with high fees on trades, overnight fees and hidden fees. Commission and spread fees are common with Barbados brokerage accounts. Spreads should vary between 0.03% to 0.5% depending on your trading volume.
Trading platforms: They should be user friendly, grant access to trading tools and indicators and suitable to traders at all levels. We recommend you opt for a platform with a technical charting interface and built-in market data. A comprehensive market news feed and access to advanced features are a must.
Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions. Choose mobile platforms with full-screen charting options and social feeds.
Deposit & Withdrawal: Deposit and withdrawal needs to be fast and simple. Choose an broker that offers your preferred payment method and industry leading commission and fee structures.
Assets: Look for coverage of preferred assets. Barbados traders are allowed to access all tradable asset classes including forex, stocks, indexes, options, FOPs, commodities, futures, indices, bonds, swaps, mutual funds, hedge funds, spot gold, ETFs and cryptos.
Regulation: Brokers with top-tier licenses follow strict rules enforced by a trustworthy regulators and offer high security standards. We recommend users to choose platforms with FCA, CySEC, and ASIC licenses and tier one regulations.
Research & education: Beginner and average traders and investors should choose a broker with research and education tools including: weekly webinars, daily news updates, personal account manager, personal training and room access.
Customer support: Beginner traders should look out for responsive and professional customer support 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 the Sharia law.
Online Trading In Barbados
Online trading in Barbados is done on the Barbados Stock Exchange (BSE). The stock exchange was founded in 1987. Traders and investors can also trade with foreign exchanges and internationally operating brokers. There are no laws regulating cryptocurrency trading yet. This means that you can legally buy and trade crypto in Barbados.
Online Trading Regulation
The Financial Services Commission (FSC) regulates the financial services industry in Barbados. All companies that offer their clients trading and investment services have to have a license issued by them. Companies that offer these types of services that aren’t based in Barbados do not have to apply for a license with the FSC. For this reason, most foreign brokers do not have an FSC license. They are regulated by financial regulators like the CySEC, ASIC, or FCA instead.
You can check if a broker based in Barbados has a valid license by using the Registered Entities section on the Barbados financial services center’s website. We recommend always checking whether or not a broker has a valid license. If you want to trade with a broker based overseas, we suggest double-checking their license with regulatory bodies like the FCA, CySEC, FINRA, or ASIC.
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 a responsive customer support.
Capital.com is the second best trading platform for Barbados residents, because of their low fees, advanced trading tools, copy trading features and a responsive customer support. Interactive Brokers, Forex.com and IQ Option are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Barbados?
Yes, there are trading platforms available in Barbados that offer 0% commission trading like eToro.
How Much Should I Invest When Trading Online in Barbados?
You should always invest at least the minimum deposit amount Barbados and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Barbados?
Yes, crypto trading is available to Barbados citizens. The leading trading platforms offer Bitcoin trading via CFDs.
How To Check If A Trading Platform Has a Valid License?
You can check if a broker has a valid operating license on the FSC official website.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
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.
If you liked this article then also read:
- Saudi Arabia
- 1 Top 5 Trading Platforms in Barbados
- 2 Best Online Trading Platforms Barbados
- 2.1 01. eToro: Best Platform Overall
- 2.2 02. Capital.com: Top choice for traders looking for a discount broker
- 2.3 03. Interactive Brokers: Broker with a well-rounded offer of tradable markets
- 2.4 04. Forex.com: Great for users looking to trade forex and CFDs
- 2.5 05. IQ Option: Low spreads and a sophisticated platform
- 2.6 How To Pick The Right Platform?
- 2.7 Online Trading In Barbados
- 2.8 Online Trading Regulation
- 2.9 Licence Verification
- 3 Conclusion