Best Low Cost Brokers in Malta
Top 3 Low-Cost Platforms for Traders in Malta
AvaTrade is regulated in multiple jurisdictions worldwide, which makes the company a reliable, trustworthy, and transparent brokerage services provider.
AvaTrade allows you to optimize your strategy with excellent trading conditions such as low spreads, transparent pricing of assets, and fast execution on all entry and exit orders. Also, AvaTrade has a variety of trading platforms that are seamlessly accessible on both mobile and desktop devices.
XM is one of the largest MT4 and MT5 Forex brokers, and has been a popular choice among traders. XM offers an Ultra Low Spread account type, providing raw spreads (starting from 0.1 pips).
Some stats: XM had a 100% execution rate (no rejection of orders), and 99.35% of all orders were executed in less than 1 sec, with a strict no re-quotes policy.
How to categorize a Broker as cheap?
Below are the main criteria that we have considered when making this ranking:
The minimum deposit must be low (or null). A low minimum deposit means that operating the platform does not require a lot of capital.
The Broker should not charge a fixed commission per trade. The Broker must charge commissions because that is what they do, but when they set a fixed rate, it implies that a buy and sell order must have a minimum amount to generate any profit. As an example, if you open a trade for a total value of 20 dollars and the Broker charges a fixed commission of 10 dollars to complete the operation (Opening and Closing), then the trade must generate at least 10 dollars, that is, it must grow 50%. Brokers that do not charge a fixed commission tend to charge high spreads.
Spreads and Overnight Financing should be as low as possible. Related to the previous, if a broker does not charge fixed commissions, the only way to earn money is through margins and overnight financing. Overnight financing costs are levied when a trade is left open until the next day; Brokers charge this cost as if it was a loan, which, indeed, it is. To be considered low, these trading costs should be as low as possible.
Last but not least, the Broker has to be available to clients in Malta.
Above we present our Top 3 of the best Trading platforms that we consider as 'Low Cost'.
Founded in Melbourne, Australia, in 2009, Eightcap has built a solid reputation within the industry. They offer a highly reputable ECN account that stands out for its impressive features and robust regulatory framework. With spreads starting from 0.0 pips and a wide range of available instruments encompassing over 800 options, Eightcap offers traders a diverse and competitive trading environment.
One of the notable aspects of Eightcap's ECN account is its transparent commission structure. Traders are charged a commission of 3.5 AUD, USD, NZD, SGD, CAD, 2.25 GBP, or 2.75 EUR per standard lot traded. This allows for greater clarity and control over trading costs.
With a minimum deposit requirement of $100, Eightcap ensures accessibility for traders of various levels, making it an attractive option for both beginners and experienced traders. The account accommodates trade sizes ranging from 0.01 lots to 100 lots, providing flexibility to suit different trading strategies.
Risk management is also prioritized by Eightcap, as demonstrated by their margin call and stop-out levels set at 80% and 50%, respectively. These levels help traders manage their positions and mitigate potential losses effectively.
Furthermore, Eightcap offers a range of account base currencies, including AUD, USD, EUR, GBP, NZD, CAD, and SGD, enabling traders to select their preferred currency for a more personalized trading experience. The allowance of scalping, a popular trading strategy, adds further flexibility and accommodates traders who prefer this approach.
Eightcap is regulated by prominent regulatory bodies, including the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB). This multi-jurisdictional regulation adds an extra layer of trust and assurance for clients.
Overall, Eightcap's ECN account delivers competitive trading conditions, a diverse range of instruments, and a strong regulatory framework. These factors make Eightcap an excellent choice for traders seeking a reliable and transparent ECN broker.
Generally speaking, clients of trading platforms want to pay fewer and smaller commissions. Therefore, we present the top 3 of the cheapest Brokers.