Broker to Trading

The brokers in the table are retail brokers offering accounts for traders with relatively high minimum deposits as well as smaller minimum deposits. The reason for trading with a larger minimum deposit may be related to a desire to access extra services (in particular personalised service), however it may also be due to the trader wanting to trade larger volumes. Thus different brokers may offer different types of these accounts, depending on the type of trader who may use them.

A reason for trading with a retail broker used by all kinds of traders, is that the trader can scale down their trading as well as scale up. In general, the trader simply needs to meet the minimum deposit/balance or volume requirement to access these accounts and if they do not move to a lower account type.

A beginner trader may wish to trade on a demo account or with a smaller account balance and as they get more experience trade with larger volumes. Traders may not do this, however and may simply exit trading or continue with small volumes. However a trader may start out trading with relatively large volumes and find they wish to reduce the scale of their trading until they are more experienced. A trader who trades using robots executing automated trading strategies may wish to trade on smaller or larger volumes.

In general traders may want to have some flexibility in the size of their accounts. These brokers all have relatively low minimum deposits, thus the trader can still maintain an account even if they drastically scale back their trading. All these brokers offer Forex which is a market which scales to the volume of the trader, that is it can support smaller trade sizes or larger ones and can be traded with automated and non-automated approaches.

Best Brokerage For High Net Worth

The pick of the brokers above is eToro. This is because it allows the trader to scale their accounts via the eToro Club program, which offers tiered levels of service for increased account balances (which includes for the highest tiers, features such as tickets to sporting events, an invitation to eToro's Diamond Gala event and invitations to industry events), and it provides a user friendly platform suitable for beginners and experienced traders. More pertinently, it offers social and copy trading on its platform, thus the trader who is not that experienced can copy the trades of other traders. This is a level of potential scaling encompassing account size and the experience level of the trader.