In order to trade successfully, it is very important to choose the right broker. in Latvia, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best stock brokers for beginners in Latvia 2024. You can compare their features and trading conditions.
1
eToro - Best for beginners in Latvia
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.
👍 Advantages of trading with eToro for traders from Latvia:
•High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.
•Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.
•An opportunity to combine active trading with social trading and passive investing.
•Zero-fee trading of a number of stocks.
•Access to ready-made diversified asset portfolios with various risk levels.
•Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.
•Zero fees for portfolio management, depositing funds and account maintenance.
👎 Disadvantages of eToro for traders from Latvia:
•High minimum deposit for users of a number of countries.
•No live chat on the website for quick connection to customer support.
2
DEGIRO - Best for beginners in Latvia
DEGIRO is a Dutch investment company operating since 2008. The broker has been providing online services since 2013. Today DEGIRO is headquartered in Amsterdam and has offices in 18 European countries. Its activities are controlled by the Financial Conduct Authority (FCA, 574048), as well as regulators in the Netherlands: Financial Markets Authority (AFM, 12048408) and Central Bank (DNB, R128868). DEGIRO was awarded over 86 international awards: financial publications of Germany, France, Denmark, and the Netherlands have repeatedly recognized the company as the best stock market broker. How to open a DEGIRO account
👍 Advantages of trading with DEGIRO for traders from Latvia:
•Low brokerage fees for trading stock market assets;
•The ability to open transactions on European and American exchanges;
•Simple trading platform functionality.
👎 Disadvantages of DEGIRO for traders from Latvia:
•There is no online chat on the company's website.
3
Ninjatrader - Best for beginners in Latvia
Ninja Trader is a Forex broker that has been providing brokerage services in the derivatives and foreign exchange markets since 2003. The main specialization of the company is in the futures and futures options markets. The broker is a licensed company with domicile in the United States. Ninja Trader also has offices in Germany and the Netherlands, but these are more representative functions.
👍 Advantages of trading with Ninjatrader for traders from Latvia:
•availability of algorithmic trading using proprietary systems; there are more than 850;
•proprietary trading platform, which is one of the best products for trading in the derivatives markets (like MetaTrader 4 for Forex).
👎 Disadvantages of Ninjatrader for traders from Latvia:
•high trading costs. In addition to the commission for the contract, there are exchange and regulatory fees, a fee to the trade provider (intermediary broker);
•the initial deposit is from USD 400. But that amount has nothing to do with fees associated with the US stock market;
•the broker is tailored exclusively for the US futures and options markets;
•a deep understanding of the principles of the derivatives market and the rules for working with exchanges is required;
•chat and phones contacts are missing;
•there are cases of neglect of client risks. Ninja Trader was fined in 2014 by its regulator for irregularities under its rules.
4
Robinhood - Best for beginners in Latvia
Robinhood is an investment company that has provided services on the stock market for over ten years. Its owners engaged in software development for hedge funds ab initio and then teamed up to create a company that makes investing available to all. The broker is licensed to provide its services and is a member of the Financial Industry Regulatory Authority (FINRA, CRD#: 165998/SEC#: 8-69188) in the United States. There is no information about the broker receiving awards for their activities.
👍 Advantages of trading with Robinhood for traders from Latvia:
•trading stock market instruments without paying commissions;
•the ability to trade from mobile devices;
•hassle-free registration procedure.
👎 Disadvantages of Robinhood for traders from Latvia:
•the broker does not offer Forex instruments for trading;
•there are no offers for receiving passive income;
•training materials on the website are limited;
•the company works with clients exclusively from the US;
•lack of online support.
5
Comdirect - Best for beginners in Latvia
Comdirect is an investment bank and broker founded in 1994 that is owned and operated by the largest German bank Commerzbank AG. Comdirect is listed on the Frankfurt Stock Exchange and regulated by BaFin, the German Federal Financial Supervisory Authority. It offers clients accounts for Forex trading and investing in securities of the German, European and international markets. Comdirect has received numerous awards for its banking products and brokerage services. In 2021 they won the annual Euro am Sonntag and Broker-Wahl voting for the title of the best online broker.
👍 Advantages of trading with Comdirect for traders from Latvia:
•No minimum deposit requirements.
•A wide range of investment assets for diversified portfolios.
•Huge number of tools for advanced market analysis.
•Ability to make transactions through a mobile application and third-party terminals.
•Free withdrawal of funds from investment accounts.
•Availability of an affiliate program and various bonus offers.
👎 Disadvantages of Comdirect for traders from Latvia:
•High trading commissions on all asset classes.
•The broker does not have a website in English. Personal account, terminals, and communication with company representatives are conducted in German only.
•Complex and lengthy process for opening an account for traders who are located outside of Germany and Austria.
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
eToro Commissions and Fees
Registration on the eToro platform is free. The broker does not charge a fee for opening and closing long positions on stocks quoted at the US stock exchanges. The stocks of other markets are available as derivatives, with eToro charging a trading fee on them in the form of the spread. Also, the fees are applied to short positions and leveraged orders. The company accepts and allows withdrawals of only US dollars. If a client deposits or withdraws another currency, it is converted into USD at a fee of 0-50 pips. Members of eToro club get a 50-100% fee reduction on conversion. If a client shows no activity for a period of 12 month, the broker charges the inactivity fee of $10. There is no deposit fee. eToro charges $5 on each withdrawal.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
$5 |
Yes |
|
Pro |
from $1.1 |
$5 eToro’s fee + the fees of payment systems |
DEGIRO Commissions and Fees
DEGIRO trading terms were analyzed by Traders Union analysts for the explicit and hidden commissions. There is a fee for buying and selling instruments, as well as tax on income from dividends. All DEGIRO Fees for trading stock market assets are listed in the Compare Fees section. There is also a comparison of fees between DEGIRO and other stock brokers. The company doesn’t charge a commission for funds replenishment and withdrawal, but it is charged by the bank making the transfer. DEGIRO has no commission for opening and maintaining accounts.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
All the accounts for trading in the stock market. |
1.5$ |
There is a bank commission |
Ninjatrader Commissions and Fees
Experts at Traders Union have analyzed NinjaTrader conditions for explicit and implicit fees. There are no hidden fees. Since the broker is an intermediary on the US and European stock exchanges, it is not responsible for the level of the spread and there is no data on the site. There are additional commissions of exchanges, banks, partners, and brokers-partners.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Futures |
$50 for ‘mini’ contracts |
Yes |
|
Options |
From $0,59 |
No |
Robinhood Commissions and Fees
Analysts of the Traders Union have reviewed the trading conditions of Robinhood Markets for implicit and explicit commissions and fees. Hidden commissions were not revealed. The broker does not charge a trading fee for the replenishment of the deposit or the withdrawal of funds. No commission is charged for order execution. Please note: there is no commission for assets from the US market only. A trading fee is charged to traders for trading European stocks.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Robinhood Instant |
From $1.5 |
No |
|
Robinhood Gold |
From $1.5 |
No |
|
Robinhood Cash |
From $1.5 |
No |
Comdirect Commissions and Fees
Comdirect’s commission for trading stocks and ETFs consists of two parts: a percentage of the volume and a fixed fee per trade. The size of the trading commission varies depending on the instrument and the exchange.
-
For the purchase and sale of German stocks and ETFs, the broker withholds 0.25% of the transaction amount plus €4.9 per order (minimum €9.9; maximum €59.9).
-
Exchange commissions are 0.0025% of the turnover (minimum €2.5) or 0.005% (but not less than €5).
-
For transactions with international stocks, the investor pays 0.25% of the volume, plus €7.9 per transaction (minimum €12.9; maximum €62.9) plus any third-party costs.
-
Commission for orders in terms of OTC trading is 0.25% plus €4.9 (minimum €9.9, maximum €59.9).
-
Each futures index or ETF and index option contract costs €4.5, and a stock futures contract costs €2.5. The minimum commission for futures and options is €19.
Comdirect does not charge any fees for account opening, deposits, or withdrawals. The inactivity fee is €0 during the first three years. After that, it is €1.95 per month, if the client has not completed 2 transactions per quarter or does not have a savings or current account with Commerzbank AG.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Comdirect Depot |
from 9.9€ |
no |
|
Währungsanlagenkonto (Currency Asset Account) |
from 12.9€ |
no |
|
LiveTrading |
from 9.9€ |
no |
|
CFD-Konto |
from 0€ |
no |
Summary
Many brokers are available for traders from Latvia, but not all of them offer good conditions. In this review, TU experts chose the Best stock brokers for beginners in Latvia 2024. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Stock Brokers For Beginners in Latvia
| eToro | DEGIRO | Ninjatrader | Robinhood | Comdirect | |
|---|---|---|---|---|---|
|
Overall score |
7.75 |
7.57 |
7.03 |
6.91 |
5.05 |
|
Execution of orders |
9.1 |
9.3 |
8.1 |
7.9 |
5.89 |
|
Investment instruments |
9.7 |
9.9 |
8.7 |
8.5 |
6.31 |
|
Withdrawal speed |
9.5 |
9.7 |
8.5 |
8.3 |
5.95 |
|
Customer Support work |
9.3 |
9.5 |
8.3 |
8.1 |
6.25 |
|
Variety of instruments |
9 |
9.2 |
8 |
7.8 |
5.73 |
|
Trading platform |
9.8 |
10 |
8.8 |
8.6 |
6.47 |
|
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FAQ
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
What commissions and fees should I take into consideration when I am choosing a broker?
The commissions and fees in the financial markets are divided into trading and non-tradings ones. Trading fees are the fees that are charged directly during trading (spread, commission per lot, etc.), while non-trading fees are the ones charged outside the trading process (for example, account fee, inactivity fee, deposit and withdrawal fee).
Is it possible to work with offshore brokers?
It is best not to work with offshore brokers. However, if you have chosen such a company, you need to check and analyze it very thoroughly. There are offshore brokers with good reputations. Before you start working with such a company, deposit the minimum amount and start trading. Once you’ve worked with the broker for a little while and checked how it operates and how quickly it processes withdrawals, you can start depositing higher amounts.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.