In this guide, we go over the best trading platforms in El Salvador. 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 El Salvador
- Interactive Brokers – Best trading platform overall
- CMC Markets – Broker known for its award winning trading experience
- OandA – Low risk CFD and forex broker
- Forex.com – Best Forex Trading Platform
- Capital.com – Best in research and education
Best Online Trading Platforms El Salvador
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||Interactive Brokers||4.9||Best trading platform Overall||$0|
|#2||CMC Markets||5||Broker known for its award winning trading experience||$0|
|#3||OandA||4||Low risk CFD and forex broker||$0|
|#4||Forex.com||4||Best Forex Trading Platform||$100|
|#5||Capital.com||4.7||Best in research and education||$20|
Below section breaks down the best trading platforms in El Salvador, beginning with the highest rated…
01. Interactive Brokers: Best Platform Overall
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).
02. CMC Markets: Broker known for its award winning trading experience
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.
03. OandA: Low risk CFD and forex broker
OandA is a low risk CFD and forex broker with an extensive market research section, daily market updates and social trading features. Authorized by 6 tier one regulators, it is considered low risk for traders all across the globe. Their trading platform is intuitive, automate-executing and offers multiple features for algorithmic and social trading. Mobile trading is available through fxTrade on industry leading research and charting tools.
For a low cost broker, their fees and commissions are above industry average across all accounts (core and default).
04. Forex.com: Best Forex Trading Platform
Forex.com finishes up on forth place with the best forex trading platform. 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.
Their overall great offer makes this forex and CFD broker a good choice for traders at all levels.
05. Capital.com: Best For Research and Education (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.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in El Salvador 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 El Salvador 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. El Salvador 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 El Salvador
Online trading in El Salvador is done through The Salvadoran Stock Exchange, Bolsa de Valores de El Salvador (BVES). Traders and investors can trade or invest in domestic companies and government infrastructure projects. The Central Securities Depository (CEDEVAL) oversees the Bolsa de Valores de El Salvador. There are 34 companies listed on the exchange. If residents of El Salvador want to invest in overseas companies or trade commodities, currencies, cryptocurrencies, or any other financial instrument they will have to do this with an internationally operating broker, trading platform, or cryptocurrency exchange.
Offshore brokers don’t need any special license to market and offer their products and services to citizens of El Salvador. Residents of El Salvador are free to use their services and there are no legal repercussions. The CEDEVAL doesn’t guarantee any safety of funds invested or traded by El Salvadorians abroad.
Online Trading Regulation
The Central Securities Depository (CEDEVAL) is the main regulatory body for online trading in El Salvador. All companies based in El Salvador that want to offer trading and investment services to their residents, must apply for a license with CEDEVAL. It is mandatory that all trading takes place in U.S. Dollars. Overseas brokers, trading platforms, and exchanges don’t need such a license as long as they don’t have an office in El Salvador.
Cryptocurrency regulation in El Salvador is loose and open. Bitcoin is legal tender in the country and the country’s treasury even contains Bitcoin. It is legal for El Salvadorians to buy, trade, invest, mine, and pay for goods and services in Bitcoin and other cryptocurrencies. There is even a beach town (El Zonte) named Bitcoin Beach, where everything can be bought with Bitcoin.
You can verify the validity of an overseas broker’s CEDEVAL license by going to the official CEDEVAL website and checking the Registro Electronico de Emisiones for the name of the broker. If the broker has a valid license, it will show all company details. If no results show up, the broker is operating without an El Salvadorian license and we recommend checking the websites of other regulatory bodies like the CySEC, BaFin, ASIC, or FCA. Note that most cryptocurrency exchanges operate without a license and are unregulated because there are no legal frameworks regarding cryptocurrency in place yet. For El Salvadorians, it is legal to access and use the services provided by overseas-based cryptocurrency exchanges.
Based on our review, we consider Interactive Brokers as the best trading platform for El Salvador residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
CMC Markets is the second best trading platform for El Salvador residents, because of their low fees, advanced trading tools, copy trading features and a responsive customer support. OandA, Forex.com and Capital.com are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In El Salvador?
Yes, there are trading platforms available in El Salvador that offer 0% commission trading.
How Much Should I Invest When Trading Online in El Salvador?
You should always invest at least the minimum deposit amount El Salvador and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In El Salvador?
Yes, crypto trading is available to El Salvador 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 trading platform has a valid operating license on the CEDEVAL official website. If the broker is based outside of El Salvador, you can check the official websites of CySEC, FINRA, ASIC, BaFin, or FCA instead.
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 El Salvador
- 2 Best Online Trading Platforms El Salvador
- 2.1 01. Interactive Brokers: Best Platform Overall
- 2.2 02. CMC Markets: Broker known for its award winning trading experience
- 2.3 03. OandA: Low risk CFD and forex broker
- 2.4 04. Forex.com: Best Forex Trading Platform
- 2.5 05. Capital.com: Best For Research and Education (Discount Broker)
- 2.6 How To Pick The Right Platform?
- 2.7 Online Trading In El Salvador
- 2.8 Online Trading Regulation
- 2.9 Licence Verification
- 3 Conclusion