Investors, what broker do you use for trading stocks?
I use XTB and I have to say that I like this broker very much. The platform is clear and easy to work with, XTB also offers a lot of educational material and I have had no problems with anything in the whole time.
You can vote in the poll or you can write in the comments and tell me why you chose the broker you use.
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I have DEGIRO for long term stocks, and IB for my options portfolio. 👍
XTB long term positions and daily IB
I'll elaborate a bit on my first negative experience, and of course I'd be happy for a rebuttal or another opinion. I'll start by saying that I personally use eToro. This is not to promote it, to begin with, the minus for me is in the occasional problems with the app. (late or wrong account balance recalculation, or charting failure). But I've only experienced this a few times in a year and a few months, and the charts can always be viewed elsewhere. Plus I take it that from a certain level, you have really cool little benefits which on the whole do a lot and plus, also there is Czech support, which quite a few people play on it, but yes, you have to have 10k or more dollars or euros and only then you have it. It's just that it has a lot of users and you can't cater to everyone there with a few pennies.
Compared to XTB, which I've seen is leading quite a lot here and is probably the most promoted in the Czech Republic thanks to influencers, I have only negative experiences with it. Price-wise, it seems to me like eToro in terms of spread. Buying and holding stocks and ETFs is also free. CFD of course already has a fee, just like everywhere else. Depositing, on eToro I found it easier, especially if you have Revolut, so totally easy and free. Plus, you convert the currency at the best rate out there. Withdrawal, eToro wants 5$ = about 120kč. Withdrawal at XTB cost me a little over 300kč. Clarity. eToro, lightweight, intuitive, simple graphics, almost impossible to confuse a share from a CFD share. With XTB, I find if one doesn't read the small characters, the CFD's are easy to miss. Further, XTB and all the influencers promote free study material and those seminars. So don't get mad at me, I haven't tried it in about half a year, but the only reason I wanted them was because of those seminars about a year ago. Even after creating an account and depositing money, I didn't get any recordings of the seminars and other materials in my email even though I always requested them. And such a small thing, although it doesn't blow my mind, when I was setting up the account, or rather the marketer from them called me and pushed me to do it as soon as possible, it was before Christmas of 2022, 14 days later, as of 1/1/2023 they started marketing, free shares up to some amount upon account creation. Great, so classic salesman, the gentleman tried to push me to open earlier so I wouldn't have to get a new bonus then? ...🤔
I guess that's my experience, I certainly don't mean to put down this broker and I hope all of you who use it work 100% for you. But it seems to me that here in the Czech Republic only this broker is heard and I find it good that just like other brokers have their faults, so mention here too what negative experiences can be.
eToro, Degiro, Fio and IBKR
eToro and XTB - I started on eToro and gradually moved to XTB... Mainly because of the fees.