The best international brokers for trading provide convenient and cost-effective access to international investment markets. For serious international traders, Interactive Brokers (IBKR) is our best overall online brokerage for international trading because of its industry-leading support for international trading in the largest pool of available global assets and funding currencies. IBKR is just one of 26 online brokers that we evaluated based on 89 criteria, including available assets, account services, user experience, and additional features.
The winner for best international trading platform for beginners is Fidelity, and those seeking a dedicated international trading customer service desk will appreciate Charles Schwab. Finally, moomoo holds the best international trading platform award for Chinese stocks. International investors will find each global trading platform opens the door to international stocks, exchange-traded funds (ETFs), and American depositary receipts (ADRs), along with direct access to markets around the world. Only IBKR goes beyond the basic assets to deliver international access to options, futures, mutual funds, metals, and more.
Best Brokers for International Trading of 2024
Best Overall and Best for Non-U.S. Investors: Interactive Brokers
- Account Minimum: $0.00
- Fees: $0.00 commissions for equities/ETFs available on IBKR’s TWS Lite, or low costs scaled by volume for active traders that want access to advanced functionality such as order routing. $0.65 per contract for options on TWS Lite; that is also the base rate for TWS Pro users, with scaled rates based on volume. $0.85 per contract for futures.
Why We Chose It
Best Overall
Invest in an industry-leading list of international stocks, options, futures, currencies, bonds, and funds from one platform, 24 hours a day, six days a week. IBKR provides a dedicated global investment app for U.S. and foreign traders and investors of all levels.
Best for Non-U.S. Investors
Non-U.S. investors from over 200 countries and territories can trade stocks, options, ETFs, futures, currencies, bonds, mutual funds, and more. International investors can fund their accounts in any of 24 currencies.
Pros & Cons
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Unparalleled list of investment assets spanning the global market
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IBKR GlobalTrader app provides a paper trading account along with extensive international trading
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Compare prices and financial data for global stocks in your chosen currency
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Screen by region, country, industry, market cap, and currency with GlobalAnalyst
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Mobile app is considered the best international trading app by our experts
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Steep learning curve for the assets and tools available
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Trader Workstation (TWS) can be intimidating for new traders
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Breadth of asset pricing tiers and fees can be confusing
Overview
Interactive Brokers was founded in 1978 by Thomas Peterffy. No international investing platform in the U.S. compares with the depth and breadth of international market access that Interactive Brokers grants both U.S. and global investors. In fact, global investors have a paucity of U.S.-based investment platforms from which to choose. IBKR provides trading in 150 markets and 34 countries in 27 currencies. IBKR fees are tiered and among the most competitive. Interactive Brokers does this with an ongoing commitment to making its platforms more accessible to beginners.
Interactive Brokers’ financial assets are available to both U.S. and international investors and include:
- Stocks
- ETFs
- Options
- Futures
- Futures options
- Fixed income/bonds
- Spot currencies
- Mutual funds
- Warrants
- Structured products
- Metals: gold and silver
The global investor at IBKR benefits from the wealth of trading platforms, order types and algos, free trading tools, and sophisticated portfolio analysis and reporting. The IBKR GlobalAnalyst adds to the allure of the platform and aids investors interested in international portfolio diversification. This feature provides resources to discover undervalued international companies and more, while the IBKR GlobalTrader mobile app imparts trading on the go and a $10,000 paper trading account for practice.
IBKR pricing is listed on the website and leans towards the complex. Commissions are broken down by asset class and geographical region: North America, Europe, and Asia-Pacific. Additionally, investors can choose from tiered pricing, for traders with extensive trading volume, and fixed pricing. Investors seeking the best international broker for day trading and investing with a global trading platform should consider IBKR.
Fidelity: Best International Trading Platform for Beginners
- Account Minimum: $0
- Fees: $0 for stock/ETF trades, $0 plus $0.65/contract for options trades
Why We Chose It
In addition to having access to some of the best educational materials, customer support, and user-friendly platforms in the industry, beginning international investors can access 25 international markets from one account and trade in either U.S. dollars or local currency.
Pros & Cons
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Trade in 25 international markets and 16 currencies
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Easy access to international stock research including real time pricing, news, advanced charting, and research
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Receive help from international trading specialists
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Trade in U.S. dollars or international currencies
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No international investing in retirement accounts
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Limited access to Asia-Pacific, African, and Central American markets
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No margin for international investing
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Market or limit orders only
Overview
Fidelity Investments was founded in 1946 by Edward C. Johnson in Boston. Johnson was president for over 25 years and the company continues as a family-run firm today, with granddaughter Abby Johnson as the current chairperson and CEO.
International investors can trade U.S. and international stocks with U.S. dollars or international currencies within one brokerage account. The 25 international trading markets include Australia, Canada, Hong Kong, Singapore, Mexico, South Africa, and many European countries. Fidelity is known for its extensive research resources and the international markets research is no exception. The platform offers global news, screeners, and research, categorized by geographic region.
International trading fees are clearly listed on the Fidelity website. For example, in the local currency, international investors pay 19.00 Euro per online trade for stocks from European Union countries and Canada, while Japanese stock trades cost 3,000.00 Japanese Yen. When trading in U.S. dollars, currency conversion costs 1% for conversions of $100,000 or less and declines to 0.20% for conversions greater than $1 million.
Best International Trading Platform for Customer Service: Charles Schwab
- Account Minimum: $0
- Fees: $0 for stock/ETF trades, $0.65 per contract for options
Why We Chose It
The Schwab International Services Desk is devoted to customer service for international investors. Account holders can speak with a specialist at any time between Sunday at 5:30 p.m. ET and Friday at 5:30 p.m. ET.
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Dedicated customer service access for international investors 24 hours per day, five days per week
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Two ways to trade internationally, through a standard brokerage and a global account
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No account or trade minimums
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Equity trading in 30 foreign markets
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Conversion costs add an additional 1% to the trade (for less than $100,000), if trading in U.S. dollars
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Need a separate account for the broadest international trading access
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No online trading through Schwab One brokerage account, only representative assisted
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Schwab One brokerage account only allows the settlement of international trades in U.S. dollars
Overview
Incorporated in 1971 as First Commander Corporation, the company changed its name to Charles Schwab & Co. in 1973. Schwab presents customers with two paths to global trading. The standard Schwab brokerage account enables clients to trade the majority of international securities, including stocks, and ADRs, in 30 global markets. Schwab.com via the web, StreetSmart trading platforms, and the Schwab Mobile app provide traders with a portal to the world of international assets.
For serious U.S. international investors, the Schwab Global Account provides direct stock trading in 12 of the most important foreign markets. Fees and commissions are clearly labeled on the Schwab website. For example, an online trade in the euro costs 19 euros, with a 1% currency conversion fee for conversions of less than $100,000.
Key features of the Schwab Global account include:
- No account or trade minimum
- Real-time quotes when foreign markets are open
- Multi-currency statement reports
Where Schwab’s international investing customer service shines is through the Global Investing Services desk. Clients receive guidance with all products and services including foreign securities traded on local exchanges. International customer service at Schwab is available from 5:30 pm ET Sunday through 5:30 PM ET Friday.
Best International Trading Platform for Chinese Stocks: moomoo
- Account Minimum: $0
- Fees: $0 commissions for stock, ETF, and options
Why We Chose It
Moomoo is hands down the best investment app for trading Chinese stocks. with direct access to the China securities markets.
Pros & Cons
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Direct access to Chinese and Hong Kong stock markets
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Provides clear explanations of Chinese A-shares market trading rules
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Transparent fees and pricing information
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Accessible to U.S. and international investors
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Individual margin accounts are the only available account type
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Limited available assets; no U.S. bonds or mutual funds
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Chinese stock market is dominated by state-owned companies
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Limited available trading markets: U.S., Singapore, Hong Kong, China, and Japan
Overview
Moomoo was founded in 2018 in Palo Alto, California, and is a wholly owned subsidiary of Futu Holdings Ltd, a financial technology company that trades on the Nasdaq stock exchange. This investment platform opens the door to domestic and international trading from one account. Both U.S. and international investors can tap U.S.-traded ADRs, stocks, ETFs, and global markets.
The China securities market encompasses the Shanghai and Shenzhen stock exchanges. Most of the companies listed are central and state-owned, with a few other companies, typically high-tech firms. Trading hours begin at 9:15 a.m. and end at 3:00 p.m. Beijing time. Chinese trading assets include stocks, ADRs, funds, bonds, warrants, and asset-backed securities.
In addition to the US, China, and Hong Kong exchanges, moomoo investors can also tap the Australian, Canadian, Singapore, and Malaysian stock markets through the registered broker Futu Inc.
The Bottom Line
IBKR is hands down the best international investment platform in the U.S., offering serious intermediate to professional international and non-U.S.investors access to an unparalleled list of assets and broad geographical regions. Just allow some time to learn the platform when investing with IBKR. International investors seeking an entry into Chinese A-shares will find what they need in moomoo. However, moomoo is our most limited platform, offering only one account type and a small number of available assets.
Fidelity is the best international investing platform for beginners, with one account for both U.S. and global trading. Yet, Fidelity also allows for trading in U.S. dollars and international currencies and provides access to a reasonable number of global markets. Fidelity’s research offering is among the best and serves a wide range of both beginner and more advanced international investors. Don’t count Schwab out, with a dedicated international customer service desk. Through a Schwab One brokerage account, investors can tap 30 markets, while more serious global investors might prefer the dedicated Schwab Global account.
Compare the Best Online Brokers for International Trading
| Company | Account Minimum | Fee & Commissions | Assets Available |
|---|---|---|---|
| Interactive Brokers | $0 | Varies based on asset, quantity, and country | International. stocks, ETFs, bonds, options, futures, mutual funds, currencies, metals, and more |
| Fidelity | $0 | Varies based on country | International stocks, full range of domestic assets with international exposure such as stocks, ADRs, mutual funds, and ETFs |
| Charles Schwab | $0 | Varies based on country | Stocks, ADRs, ETFs, mutual funds |
| moomoo | $0 | U.S. assets – $0.00 China assets – 0.03% of transaction, 15 CNH per order platform fee, negligible regulatory fees | Stocks, ETFs, options, Warrants/CBBCs |
What to Consider When Choosing an International Broker
When choosing an international broker, look for the same features you would want out of any broker: a strong industry reputation, up-to-date security standards, solid customer service, reasonable costs, robust trading tools, helpful educational content, and access to the markets you want to trade.
Access to research reports, screeners, and international news is very important when choosing an international broker. It might be more important to perform in depth research before buying an international stock than a U.S. company, due to differing legal reporting requirements for international firms.
What Is International Trading?
International trading for U.S. citizens is buying and selling stocks and other financial assets in countries other than the U.S.
International trading may involve:
- Currency conversions from USD to foreign currency
- Higher commissions and fees than U.S. trading
- Access to foreign markets, depending upon the platform, with IBKR providing the most international trading markets
International trading may also apply to providing foreign nationals with access to U.S. investment markets.
Why Do People Invest Internationally?
Two of the key reasons individual investors usually want to invest in international investments (or investments that offer international exposure) are diversification and the potential for growth, particularly in emerging markets. International exposure has become easier with the variety of exchange-traded funds that cover specific countries, geographic regions, or even sectors spanning multiple regions.
For some investors, however, general exposure is not as profitable as targeting specific stocks only sold in their domestic markets. General exposure to the Japanese market, for example, may be too general if an investor is really looking to target Japanese advanced materials companies. Similarly, a global oil fund washes out regional differences in both the risk and returns that companies face in terms of regulatory compliance, political stability, domestic subsidies, proven reserves, and so on. Investors with a particular fundamental outlook on a market or sector may look to invest directly in that market to test the investment thesis in the purest trade possible. ETFs and other tools can be used as proxies, but they dilute the trade by bundling in other assets outside of the target ones.
How Can I Trade Internationally?
Trading internationally depends upon the investment platform that you choose. Some financial firms, such as Interactive Brokers, allow customers to trade internationally through a traditional brokerage account, while other firms require you to open a special international trading account. After opening the account and funding it, you will select the stocks that you want to buy or sell and follow the website’s prompts.
We recommend Fidelity as the best international trading platform for beginners. In addition to user-friendly platforms, Fidelity offers extensive research and educational resources. Financial firms such as Schwab offer international trading customer service for added international trading guidance.
How Do You Open an International Trading Account?
Opening an international trading account varies by provider. Some financial firms enable international trading through a traditional brokerage account. You can also trade American depositary receipts (ADRs), international ETFs, and mutual funds through your traditional brokerage account. IBKR, our winner for best broker for international trading, only requires one account for both domestic and international trading.
Other firms require international traders to open a separate account. Some firms will require you to print and mail, or email, a separate international trading account form. For other firms, the account can be opened online. Investigate the help center and FAQ to determine the specific international account opening process for each firm.
Can a Non-U.S. Citizen Open a Brokerage Account?
In most cases, legal U.S. residents who are not U.S. citizens can open U.S.-based brokerage accounts, provided they complete the required paperwork and certify their tax status. You might be required to complete additional tax documents that are required for international citizens.
Non-U.S. citizens who live outside of the U.S. can open an account if the broker accepts applications from their country of residence. There might also be limitations on the types of accounts you can open if you’re not a U.S. resident. Another alternative might be to open a brokerage account in your home country with access to the U.S. investment markets.
How We Picked the Best Online Brokers and Trading Platforms
Providing readers with unbiased, comprehensive reviews of online brokers and trading platforms is a top priority for Investopedia. We combined our industry research, subject matter expertise, and investor survey data to guide the research and weightings for our 2024 online broker awards. To collect the data, we sent a digital survey with 110 questions to each of the 26 companies we included in our rubric. Additionally, our team of researchers verified the survey responses and collected any missing data points through online research and conversations with each company directly. The data collection process spanned from Feb. 19 to March 19, 2024.
We then developed a proprietary model that scored each company to rate its performance across 11 major categories and 89 criteria to find the best online brokers and trading platforms. The score for each company’s overall star rating is a weighted average of the criteria in the following categories:
Additionally, during our 2024 research, many of the companies we reviewed gave us live demonstrations of their platforms and services via video conferencing methods and also granted our team of expert writers and editors access to live accounts so they could perform hands-on testing.
Through this all-encompassing data collection and review process, Investopedia has provided you with an unbiased and thorough review of the top online brokers and trading platforms.
Learn more about how we review online brokers.
