Below is a list of brokers that I have experience trading and investing with. I do not recommend any specific broker. Please always do your own research when it comes to brokers you send your hard earned cash to for trading and investing.
Table of Contents
Forex and CFDs
SimpleFX
This is the broker I use for trading Forex and CFDs. This is a so called off-shore broker. This means you trade outside of any regulatory oversight. In my opinion this is not necessarily a bad thing. Regulators try to protect you, but also limit your options, and they stifle innovation.
Website
If you checkout the SimpleFX website, you will see all the possibilities the broker has to offer.
SimpleFX (referral link)
Offering
I mostly trade Forex. When I focus on that I see that the broker offers the following:
- small spreads
- high leverage
- account that can be denominated in BTC, other crypto currencies, stable coins, or regular fiat (needs KYC)
- the ability to trade without KYC. All you need is an email address and crypto currency.
High leverage
The high leverage allows me to only deposit a small amount. This reduces the counter-party risk. Let me explain. Let’s say that at a regulated broker I would trade a 5000 USD account with 30x leverage. if I would risk 1% per trade, this would mean I would risk 50 USD per trade. SimpleFX allows for up to 1000x leverage on forex pairs. So if I would use 300x leverage, I would only need to deposit 500 USD to be able to trade the same way as I would at the regulated broker. This way I would only have to deposit 10% of the money I will be trading with. So my risk management will be based on 5000 USD while in the account I only need 500 USD.
I actually think this is less risky than depending on a deposit guarantee scheme.
Webtrader
SimpleFX offers one of the best webtraders and mobile applications I have used. The webtrader and mobile app integrates Tradingview charts giving the trader a fantastic charting experience.
SimpleFX Webtrader (referral link)
These are the main features on the webtrader:
- Tradingview chart
- Economic calendar
- News
- Bloomberg TV
- Trading ideas
Crypto
I currently use the following exchanges for buying and trading crypto currencies:
- Bybit
- OKX
If you want a non-kyc exchange, then consider using:
- Blofin
- Apex
Bybit
Bybit is one of the biggest crypto exchanges in the world. The platform offers many different services, such as:
- buy crypto with fiat
- spot trading
- margin trading
- derivatives: perpetual futures, inverse futures
- demo trading
- metatrader4
- earning interest on your holdings
- crypto loans
- staking
- NFTs
- Bybit debit card
- Integrated web3 wallet
Bybit (referral code: WMGYBB)
Not all the mentioned services are available to traders in all jurisdictions. For instance: I live in The Netherlands and for me it is not possible to trade futures on Bybit. And soon this will be the case for most European citizens thanks to our well intended regulators. However I am able to trade on margin with Bybit.
OKX
OKX (referral link)
OKX is one of the larger crypto exchanges. I like the platform as it is very clean and simple. So if Bybit feels a bit overwhelming, then consider OKX.
OKX offers many of the same features as Bybit. In addition OKX (EU) offers and advanced mode and a simple mode. In the simple mode you will not be over stimulated into FOMO-ing into trades Instead you can simply:
- deposit and withdraw fiat or crypto
- buy and sell crypto
- set alerts
- earn on your crypto by staking it
Blofin
If you want to trade with a non-kyc exchange, then consider Blofin.
Blofin lets you:
- trade Spot
- trade Futures
- trade demo
- earn by staking your crypto
- copy trade
- trade with bots
The interface if very nice and clean.
Apex
If you rather trade on a decentralized exchange, then consider Apex.
Stocks and ETFs
Trading212
If you want to invest in stocks and ETFs, then please have look at this broker. I auto invest here on a monthly basis in a couple of ETFs in a set division. This is called a pie.
Trading212 has the following benefits:
- commission free investing
- buy stocks instantly
- auto invest with pies
- buy for as little as 1 euro with fractional shares
- earn interest on your portfolio
- hold 13 global currencies
- earn interest on available cash
Do you want to get free shares worth up to €100?
Join Trading 212 Invest with my link, and we will both get free shares.
https://davetromp.com/trading212
(Depends on available running promotions.)
