Best Low Cost Brokers in Hungary
Top 3 Low-Cost Platforms for Traders in Hungary
At eToro, buying and selling ETFs is straightforward. The platform is easy to use and offers zero commissions on ETFs with low minimum investments, so anyone can invest in ETFs.
eToro is an online broker and investment platform with over 6 million users around the globe. eToro allows you to trade Forex, Cryptocurrencies, Stocks, Indices, Commodities and ETFs. You can make long-term investments as well as day trade.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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Saxo Bank offers clients the option to invest in stocks, bonds, options, ETFs and many more. With their accessible platform and easy to manage account, they are an effective option to consider for investment purposes.
In particular, for ETFs, Saxo allows you to invest in 5,500+ ETFs from tech, healthcare, environment and other significant sectors that trade in 60 global stock exchanges for USD 0.01 in commission per share. In other words, Saxo allows you to invest in almost every ETF available out there at a meagre cost.
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 Hungary.
Above we present our Top 3 of the best Trading platforms that we consider as 'Low Cost'.
Avatrade offers you a wide selection of the Most Traded ETFs in the market. In addition, the company is regulated in multiple jurisdictions worldwide, which makes it a reliable, trustworthy, and transparent brokerage services provider. They allow you to optimize your investment strategy with excellent trading conditions such as low spreads, transparent pricing of assets, and fast execution on all entry and exit orders.
AvaTrade offers ETFs from Fund Managers like SPDR, VanEck, iShares, among others.
Generally speaking, clients of trading platforms want to pay fewer and smaller commissions. Therefore, we present the top 3 of the cheapest Brokers.