Best Trading Platform in Dominican Republic

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In this guide, we go over the best trading platforms in Dominican Republic. 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 6 Trading Platforms in Dominican Republic

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  1. Degiro Best trading platform in Dominican Republic overal
  2. TD Ameritrade
  3. Interactive Brokers – Great Overall Pick
  4. Saxo Bank – Best for Advanced Traders
  5. eToro – Best for Social and Copy Trading
  6. CMC Markets – Award-winning trading experience

Best Online Trading Platforms Dominican Republic

PLATFORMSCOREGENERAL INFOMINIMUM DEPOSIT
#1Degiro4.2Best trading platform
#2TD Ameritrade4.7
#3Interactive Brokers4.9Great Overall Pick$0
#4Saxo Bank4.9Best For High Volume Traders$10.000
#5eToro4.9Best For Copy Traders $200
#6CMC Markets5Award-winning trading experience$0


The below section breaks down the best trading platforms in Dominican Republic beginning with the highest rated…

01. Degiro: Best Platform Overall

degiro-rating


02. TD Ameritrade:

td-ameritrade-rating


03. Interactive Brokers: Great Overall Pick

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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. Saxo Bank: Best For High Volume Traders and Investors

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Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.

If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.

Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.


05. eToro: Best For Copy Traders

etoro-rating

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.


06. CMC Markets: Award-winning trading experience

cmc-markets-rating

CMC Markets is a reputable online broker known for its award winning trading experience, excellent selection of tradable instruments and industry leading pricing. With over 12.500 tradable instruments across all asset classes, CMC is among industry leaders in market coverage. 

Their proprietary trading platform called Next Generation is reliable, fast executing and fully packed with useful trading tools and indicators. It features an impressive education and research section full of quality in-house and third party content. 

CMC Market offers the lowest commissions and fees in the industry. Low spread fees (0.73 pip on EUR/USD) are available for traders at all levels and accounts. Additional bonuses and rebates for active traders makes CMC Markets a market leader in costs and fees.


How To Pick The Right Platform?

The main criteria to consider when choosing a trading platform in Dominican Republic 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 Dominican Republic 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. Dominican Republic 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 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 Dominican Republic

Online trading in the Dominican Republic is available through the La Bolsa y Mercados de Valores de la República Dominicana (BVRD). Founded in 1991, it is one of the most traded stock exchanges in Latin America. It lists domestic companies only. If you live in the Dominican Republic and want to trade international stocks, cryptocurrencies, or other assets not listed on the BVRD, we recommend trading with one of the offshore brokers mentioned in this guide. It is legal to trade with foreign brokers. Capital profits are not subject to taxation.

Online Trading Regulation

The Superintendency of Banks (SB) regulates online trading in Dominican Republic. All Dominican Republic-based brokers that offer online trading to Dominicans citizens have to be authorised by the SB and need to follow strict rules to maintain their operating license. Companies based abroad can offer online trading services to Dominicans citizens without being authorized by the SB. Cryptocurrency trading is legal in Dominican Republic.

License Verification

You can verify the validity of a brokers license by going to the official website of the SB, clicking on ‘Regulated Entities’, and searching the list of Federally Regulated Financial Institutions for the name of the broker. If the broker is based outside of Dominican Republic, you can visit the official websites of CySEC, FCA, BaFIN, ASIC, or FINRA and check their database of ‘Registered Entities’ for the name of the company you want to trade with. If nothing shows up, you might be dealing with an unregulated broker or trading platform and we recommend trading with one of the best trading platforms in Dominican Republic mentioned in this guide instead.

Conclusion

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

TD Ameritrade is the second best trading platform for Dominicans residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. Interactive Brokers, Saxo Bank, eToro, and CMC Markets 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 Dominican Republic?

Yes, there are trading platforms available in Dominican Republic that offer 0% commission trading.

How Much Should I Invest When Trading Online in Dominican Republic?

You should always invest at least the minimum deposit amount Dominican Republic and international brokers require you to open an account. In most cases, this is about $50.

Is Crypto Trading Available In Dominican Republic?

Yes, crypto trading is available to Dominicans 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 or trading platform has a valid license by checking the ‘Registered Entities’ databases on the official websites of regulatory bodies like the CySEC, FINRA, ASIC, BaFin, or FCA. For Dominican Republic-based brokers, you can check the official website of Superintendency of Banks (SB) instead.


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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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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