In order to trade successfully, it is very important to choose the right broker. in Iran, 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 day trading in Iran 2024. You can compare their features and trading conditions.
1
Interactive Brokers - Best for day trading in Iran
Interactive Brokers is among the best-known US investment companies, operating since 1977. The broker offers to trade currency pairs, but its basic instruments are stocks, CFD, indices, metals, ETF, futures, and other exchange market assets. You can also trade cryptocurrencies on Interactive Brokers. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA), and other international financial regulation commissions. In 2020, the broker was awarded the "Best Online Broker” (Barron's) and "Best Broker for Economical Investments" (NerdWallet) titles and got five stars in the Online Stock Trading for Traders category (Canstar). Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.
👍 Advantages of trading with Interactive Brokers for traders from Iran:
•wide range of training materials;
•access to 135 markets in 33 countries;
•a huge subset of trading instruments.
👎 Disadvantages of Interactive Brokers for traders from Iran:
•website interface is only partially translated into other languages;
•you have to pay for an inactive account;
•Support service does not work on Saturday and Sunday;
•long and complex registration procedure;
•no cent accounts for novice traders.
2
Ninjatrader - Best for day trading in Iran
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 Iran:
•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 Iran:
•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.
3
ChoiceTrade - Best for day trading in Iran
ChoiceTrade is a stockbroker that began providing services in 2000 and has steadily introduced ground-breaking technologies into its work. ChoiceTrade is aimed at working with investors who value order execution speed, a minimalistic approach to trading, and reliability. The broker is regulated by two bodies: FINRA (CRD#: 104021/SEC#: 8-52511) and SIPC. The latter regulator guarantees clients financial payments in case of unforeseen circumstances.
👍 Advantages of trading with ChoiceTrade for traders from Iran:
•A vast array of trading accounts for clients with different needs.
•The broker sets the lowest fees for users, regardless of the type of account.
•The broker is focused on cooperation with clients from different countries, the site interface is presented in more than 30 languages.
•Clients' financial assets are protected up to $500,000 by an independent regulatory body.
•Lightning-quick speed of order execution.
👎 Disadvantages of ChoiceTrade for traders from Iran:
•The minimum deposit is $100, which is not always within the power of novice traders.
•The broker does not provide clients with training materials for development in the field of trading and investments.
•The company offers only two ways to replenish a trading account and withdraw earned funds; there are no electronic payment systems.
4
Lightspeed - Best for day trading in Iran
Lightspeed is an American stockbroker for experienced investors. The company is overseen by the US Securities and Exchange Commission (SEC, 0001122636 ), the US Financial Industry Regulatory Authority (FINRA) and NFA (0330872). The SIPC, the Securities Investor Protection Corporation, is responsible for compensating Lightspeed customers in the event the broker files for bankruptcy. Lightspeed specializes in providing investors with access to the stock markets, offering multi-ownership accounts and instant order execution.
👍 Advantages of trading with Lightspeed for traders from Iran:
•A wide selection of trading platforms for the different needs of a trader.
•The ability to test the trading conditions of the broker without financial risks, on a virtual account.
•The company offers accounts for trading different assets and with different forms of ownership.
•A Lightspeed customer can earn additional income by participating in the affiliate program.
•Basic training materials for working on the Lightspeed platforms are available on the broker's website
👎 Disadvantages of Lightspeed for traders from Iran:
•Expensive minimum deposits.
•Lack of investment programs and other ways to generate passive income.
•The broker charges clients a commission for non-trading operations like holding positions, closing an account, maintaining an account, etc.
5
Advantage Futures - Best for day trading in Iran
The Advantage Futures broker (Advantage Futures) is an American brokerage that began its operations in 2003. The company is regulated by three independent bodies: the US National Futures Association (NFA 327359), the US Financial Industry Regulatory Authority (FINRA 39362), and the US Commodity Futures Trading Commission (CFTC). Advantage Futures specializes in futures trading and provides traders with direct access to seven exchanges for derivatives. Experience in trading in the futures market is not obligatory, the broker offers trading platforms for different clients’ needs, and the support service will help each client individually to choose the appropriate options.
👍 Advantages of trading with Advantage Futures for traders from Iran:
•The broker allows you to kick the tires and get acquainted with trading conditions using a demo account.
•A trader can choose accounts with different forms of ownership.
•The company offers a lightning-fast execution of transactions, so trading at Advantage Futures is suitable for scalpers.
•The company offers low fees, which decreases further with increasing trading volumes.
•Providing traders with direct access to derivatives exchanges.
•Keeping clients’ funds in segregated accounts.
•A vast array of trading platforms for different clients’ needs.
👎 Disadvantages of Advantage Futures for traders from Iran:
•Bonuses for trading in the company but contests are not provided.
•High level of minimum deposit.
•The company's clients do not have access to replenishment and withdrawal of funds through electronic payment systems.
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.
Interactive Brokers Commissions and Fees
Traders Union analysts have verified Interactive Brokers for hidden fees and assessed the commission level in the company. The company charges $20 for an inactive account if there is less than $2,000 on the account and $10 if there is more than $2,000. You can withdraw funds for free once a month; if you withdraw funds more often, you’ll have to pay a commission, the amount of which varies depending on the base currency of the account and the payment system.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Real |
From $2 |
Depending on the currency and withdrawal method |
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 |
ChoiceTrade Commissions and Fees
Traders Union specialists analyzed the trading conditions at ChoiceTrade, including the presence of trading and non-trading fees. Information about the fees for replenishing an account, withdrawing funds, making transactions with various assets and other financial transactions can be found on the broker's official website. There are no hidden fees. Account maintenance, forced margins, or inactive account fees are charged on a separate basis.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Joint account |
$30 per trade |
From $0 to $75, depending on the payment system |
|
Custodial account |
$30 per trade |
From $0 to $75, depending on the payment system |
|
Special account |
$30 per trade |
From $0 to $75, depending on the payment system |
|
IPS |
$30 per trade |
From $0 to $75, depending on the payment system |
Lightspeed Commissions and Fees
The experts at Traders Union have analyzed the trading conditions of the Lightspeed broker for the existence of explicit and hidden commissions. Information about fees is publicly available on the company's website. Trading fees depend on the trading asset and the client's trading volume. Non-trading fees include account maintenance and closing fees, inactive account, additional security measures, transaction cancellations, refunds, etc.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Individual Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
|
Joint Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
|
Corporate Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
|
LLC Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
|
Partnership Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
|
Trust Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
|
Retirement Account |
From $2.50 per trade |
$25 internal bank transfer, $50 external bank transfer, $25 check |
Advantage Futures Commissions and Fees
Experts at Traders Union specialists analyzed Advantage Futures LLC to find out what fees a broker charges for trading and non-trading actions of clients. It turned out that Advantage Futures charges a fee exclusively for the execution of trades, and the amount of the fee depends on the volume of trade. If the trading volume is from 0 to 100 contracts, the fee per contract is $0.99,; with a volume from 101 to 1000, the — a fee is $0.69,; with a volume from 1001 to 2000, the — a fee is $0.49,; with a volume from 2,001 to 5,000, the fee — a fee is $ 0.29,; with a volume from 5,001 to 10,000, the — a fee will be $0.19. If the trading volume exceeds 10,001 contracts, the fee will be $0.07.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Individual Account (U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
Individual Account (Non U.S.non-U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
Corporate Account (U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
Corporate Account (Non U.S.non-U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
LLC Account (U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
LLC Account (Non U.S.non-U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
Partnership Account (U.S. Citizencitizens) |
From $0.99 per contract |
No |
|
Partnership Account (Non U.S.non-U.S. Citizencitizens) |
From $0.7 per contract |
No |
|
Trust Account |
From $0.7 per contract |
No |
|
Introduced Account |
From $0.7 per contract |
No |
|
Managed Account |
From $0.7 per contract |
No |
Summary
Many brokers are available for traders from Iran, but not all of them offer good conditions. In this review, TU experts chose the Best stock brokers for day trading in Iran 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 Day Trading in Iran
| Interactive Brokers | Ninjatrader | ChoiceTrade | Lightspeed | Advantage Futures | |
|---|---|---|---|---|---|
|
Overall score |
5.16 |
7.03 |
6.61 |
5.95 |
5.77 |
|
Execution of orders |
6.45 |
8.1 |
7.4 |
6.94 |
6.79 |
|
Investment instruments |
8.96 |
8.7 |
8 |
7.36 |
7.21 |
|
Withdrawal speed |
9.43 |
8.5 |
7.8 |
7 |
6.85 |
|
Customer Support work |
7.06 |
8.3 |
7.6 |
7.3 |
7.15 |
|
Variety of instruments |
9.35 |
8 |
7.3 |
6.78 |
6.63 |
|
Trading platform |
8.36 |
8.8 |
8.1 |
7.52 |
7.37 |
|
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FAQ
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
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.
How much money do I need in order to start working in the financial markets?
The initial capital depends on the assets you plan to trade. However, in the majority of cases, $300-500 is a good amount for a start.
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.
Best Stock Brokers For Day Trading by Countries
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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.