Best Trading Platform in Bermuda

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In this guide, we discuss the best trading platforms in Bermuda. We have tested 174 brokers and analyzed their platforms in 8 essential categories. We evaluated all characteristics of their service, including platforms, costs, mobile app availability, funding options, asset portfolios, regulation, customer service, research, and education. 

The platforms with the highest scoring are below. 

Top 5 Trading Platforms in Bermuda

best-trading-platform-bermuda
  1. eToro – Best trading platform overall
  2. Capital.com – Best in research and education
  3. Forex.com – Best Forex Trading Platform
  4. IQ Option – Best Platform For Investors and Traders
  5. ActiveTrades – Regulated by the UK FCA

Best Online Trading Platforms Bermuda

PLATFORMSCOREGENERAL INFOMINIMUM DEPOSIT
#1eToro4.9Best Platform Overall$200
#2Capital.com4.7Best Broker for Algorithmic Traders$0
#3Forex.com4Best Forex Trading Platform$100
#4IQ Option4.7Best Platform For Investors and Traders$10
#5ActiveTrades4.4Regulated by the UK FCA$500


The section below breaks down the best trading platforms in Bermuda, beginning with the highest-rated…

01. eToro: Best Platform Overall

etoro-rating

eToro is a well-established social trading broker with an industry-leading platform. It provides access to excellent social and copy trading services. eToro uses robust safety protocols and follows strict rules. It has many top-tier licenses and a clean history record. 

This multi-asset brokerage firm has a versatile portfolio. It offers 3075 symbols, including forex, cryptocurrencies, indices, stocks, and commodities. eToro has wide trading spreads and free deposits. This broker has a low account minimum and charges inactivity fees. Its platforms are versatile and offer both beginner and advanced tools. eToro has an excellent list of technical tools, newsfeeds, and charts. 


02. Capital.com Best Platform With A Valuable Learning Center 

capital-com-rating

Capital.com is a good fit for traders searching for a discount broker. It stands out because of its valuable learning and research resources. Capital.com has industry-leading platforms with a premium interface. Its mobile app is outstanding and offers attractive day trading features. 

Its portfolio offers access to many popular assets, including stocks, forex pairs, indices, commodities, and CFDs on cryptos. This broker is secure, follows the best safety protocols, and has many top-tier licenses. This international provider has licenses from the FCA, CySEC, FSA, and CySEC. 


03. Forex.com: Best Forex Trading Platform 

forex-com-rating

Forex.com is a popular forex trading broker with access to excellent resources. It offers an impressive educational center with forex trading materials, webinars, market data, and FAQs. Forex.com has a multi-asset trading platform with access to advanced social trading features. It has excellent asset coverage. Forex.com offers 4500 different CFDs, currencies, stocks, and cryptos. 

Forex.com has a transparent fee structure with competitive commissions. Its overall offer makes this forex and CFD provider a good fit for traders at all levels. 


04. IQ Option Best Platform With A CySEC License 

iq-option-rating

IQ Option is a leading online broker and market maker with a CySEC license. This broker has a comprehensive offer with advanced trading platforms and a free demo account. IQ Option has above-average customer support available in English. 

This brokerage firm has Islamic accounts and copy trading services available in Arabic. This is a good service for seasoned investors and traders. IQ Option follows the highest standards of regulation in the industry. All its platforms and accounts use advanced safety protocols. 


05. ActivTrades: Best Trading Platform With A FCA License 

active-trades-rating

ActivTrades is secure forex and CFD brokerage firm with an FCA license. It offers a proprietary trading platform, the ActivTrader. It is intuitive and beginner-friendly. ActivTrader is fully customizable and provides a detailed report on trading fees. The account opening process is simple, and deposits and withdrawals are free. 

ActivTrades has below industry average trading costs. It charges an inactivity fee and some trading commissions. This broker has limited research and educational materials. 


How To Pick The Right Platform?

To pick the right platform, you need to consider essential aspects like fees, trading platforms, mobile apps, assets, deposits & withdrawals, customer service, security, and liquidity. 

Fees: Select a broker with a simple fee structure and avoid providers with high fees on traders, hidden costs, and overnight fees. Spread fees and commissions are standard with Bermuda brokerage accounts. 

Trading Platforms: Platforms need to be user-friendly and offer access to valuable tools and indicators. It is best to choose a platform with technical tools, built-in market data, and financial updates. In-depth market news fees and access to professional features are a must. 

Mobile Trading: Mobile apps need to offer the same services as their web versions. A reliable app will provide access to the same trading tools and charts as their web versions. Select platforms with social feeds and full-screen charting options. 

Deposit & Withdrawal: Deposit and withdrawal have to be straightforward. Select a brokerage firm that has access to your preferred payment method. Look for transparent fees and competitive commissions. 

Assets: Search for coverage of preferred assets. Bermuda traders access many tradable assets, including ETFs, forex, indices, stocks, futures, FOPs, options, mutual funds, and spot gold. 

Regulation: Brokerage firms that have top-tier licenses follow strict rules. These offer high-security standards and safety protocols. We recommend traders use platforms with CySEC, FCA, and ASIC licenses. 

Research & Education: New and intermediate traders need to choose a broker with valuable research and education tools. Look for access to daily news updates, weekly webinars, tutorials, and a personal account manager. 

Customer support: New traders need to look for reliable and responsive customer service in their language. 

*Islamic Accounts: All platforms from our list offer Islamic account options. This gives users the chance to trade online in compliance with Sharia law.

Financial Regulatory Authority In Bermuda 

The financial regulatory authority in Bermuda is the Bermuda Monetary Authority (BMA). It manages all finance investment and trading services in the country. All providers that offer access to trading platforms in Bermuda have to obtain a valid license from the BMA. 

Traders in Bermuda have the choice of using offshore platforms without a valid license. In this situation, the government might not protect the investment. 

License Verification 

License verification for brokerage firms and platforms is simple. You can check the validity of a license by accessing the main website of the BMA and searching for the documents section and the broker’s name. If a broker has its headquarters outside Bermuda, you need to verify the websites of top regulators like the FCA, BaFIN, ASIC, FINRA, or CySEC. If you don’t get any results, you might be dealing with an unregulated provider. It is best to use a trustworthy trading platform with top-tier licenses. 

Conclusion

Based on our review, we consider eToro as the best trading platform for Bermuda residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features, and knowledgeable customer support.

Capital.com is the second-best trading platform for Bermuda residents, because of its low fees, advanced trading tools, copy trading features, and responsive customer support. Forex.com, IQ Option, and ActivTrades are finishing up our list of top platforms with a great overall offer and above-average ratings.

FAQ

Are There Commission-Free Trading Platforms In Bermuda?

Yes, many trading platforms in Bermuda offer 0% commission trading, especially for CFD. 

How Much Should Individuals Invest When Day Trading In Bermuda? 

Brokerage firms in Bermuda have a minimum deposit requirement for new accounts, and we recommend starting with the minimum investment. 

How To Check If A Broker Has A Valid License? 

You can verify if a broker has a valid license by checking the Registered Entities databases on the websites of regulators such as ASIC, FINRA, FCA, or CySEC. 

Is Crypto Trading Available In Bermuda? 

Yes, traders in Bermuda receive access to crypto trading services. 

Are There Any Safety Risks For Traders In Bermuda? 

Online trading comes with risks, and day trading and forex are volatile markets. Day trading might lead to a loss of funds. Online trading is legal in Bermuda. But you need to use the services of a broker with top-tier licenses. 
 


Methodology
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.

Disclaimer
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.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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