Page Summary
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
- Capital.com – Best in research and education
- Forex.com – Best Forex Trading Platform
- IQ Option – Best Platform For Investors and Traders
- ActiveTrades – Regulated by the UK FCA
- Sarwa – Suitable for both beginner and professional traders
Best Online Trading Platforms Bermuda
| PLATFORM | SCORE | GENERAL INFO | MINIMUM DEPOSIT | |
| #1 | Capital.com | 4.7 | Best Broker for Algorithmic Traders | $0 |
| #2 | Forex.com | 4 | Best Forex Trading Platform | $100 |
| #3 | IQ Option | 4.7 | Best Platform For Investors and Traders | $10 |
| #4 | ActiveTrades | 4.4 | Regulated by the UK FCA | $500 |
| #5 | Sarwa | 4.7 | Multiple order types available | $5 |
The section below breaks down the best trading platforms in Bermuda, beginning with the highest-rated…
1. Capital.com – Best Platform With A Valuable Learning Center
Min Deposit: $20
Fees: 4.8
Assets available: 4.7
Total Fees:
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.
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. Forex.com – Best Forex Trading Platform
Min Deposit: $100
Fees: 3.7
Assets available: 4.1
Total Fees:
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.
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
3. IQ Option – Best Platform With A CySEC License
Min Deposit: $10
Fees: 3.3
Assets available: 2.0
Total Fees:
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.
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
4. ActivTrades – Best Trading Platform With A FCA License
Min Deposit: $500
Fees: 3.5
Assets available: 2.8
Total Fees:
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.
Pros
- Negative balance protection and increased insurance
- Excellent multi-lingual support in 14 languages
- Low fees from 0.5 pips on EUR/USD
Cons
- Charges inactivity fee
- Only offers CFD, forex, and crypto trading
Key features
- Compatible with MetaTrader 4 and 5
- Great research tools like SmartOrder 2 and Pivot Points Indicator
- Daily Market Analysis videos
- Free unlimited demo paper trading account
- One to One training available
5. Sarwa – Suitable 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 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.
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.