Best Online Trading Platform Ireland Revealed in December 2023

The first trading experience is extremely important, new traders are advised to go straight after the best trading platform Ireland has available. The best ones offer the lowest fees, the most supported markets, user-friendly platforms and features, excellent customer support, and more.

However, in the vast sea of available platforms, the good ones can be hard to find, which is why we created this guide to point would-be traders in the right direction straight away.

Best Online Trading Platforms Ireland Reviewed

For those interested in learning more about these platforms before committing to using them, here are a few details about each of them, which might help you decide which one might be the best for you.

1. Lightyear – Top Trading Platform in Ireland for Earning Interest on Uninvested Cash

Lightyear is a relatively new trading platform in Ireland that takes top spot on our list due to the platform’s innovative feature, user-friendly interface and transparent fees. Lightyear is a good choice for long term investors who want to access a variety of assets to diversify their portfolio.

One of the standout features that Lightyear offers is its 4.50% interest (USD), or 3.25% interest (EUR), on uninvested cash. – this is true as of 15/08/2023. This means that investors can earn from the funds that they hold in their Lightyear trading account, even if they do not use it to trade with.

Lightyear is regulated by Risk Save in the UK, which is regulated by the Financial Conduct Authority (FRN 775330). In Europe, Lightyear is authorized and regulated by the Estonian Financial Supervision Authority. The platform also covers users up to 20,000 EUR in protection across your portfolio, should the trading platform default. However, Lightyear has a strong focus on asset safety which means that the likeliness of this happening is very low.

As well as providing users with a simple interface, Lightyear also offers real-time market data that can help to guide investment decisions. Investors can also access professional analyst ratings and guidance as well as clear price charts.

Lightyear is available on both desktop and mobile devices. The application is designed to allow investors to manage their portfolios on the go. The platform has a transparent fixed-fee structure with UK shares costing £1 per order and US shares costing up to $1. EU shares cost €1 per order.

The provider of investment services is Lightyear Europe AS. Please read the terms before using our services and if necessary, seek qualified advice. When you invest, your capital is at risk.

3. Alvexo - Best Trading Platform In Ireland Without Commissions

With over 650,000 registered users worldwide and trading volumes exceeding 70 billion, Alvexo is a regulated online broker offering Forex, Commodities, Cryptocurrency, Stocks, Indices, Bonds & CFDs trading. A 'real broker for a real trader' is what they pride themselves on.

Alvexo, a team of market veterans founded in 2014, offers an array of intuitive, real-time trading platforms covering more than 450 different assets. There are a variety of tools available on the platforms to assist with market analysis, as well as a flexible and user-friendly interface.

Alvexo is known for its education and service-oriented approach to trading for all traders. In addition to daily signals and market analysis, Alvexo clients have access to a wide range of economic news and a trading academy, as well as webinars and seminars.

Alvexo fees:

Your money is at risk

4. Libertex — Cheap Exchange with zero spreads

Next up, we have Libertex, which is another very popular platform that mostly focuses on CFD trading. It is preferred by all those who seek low fees and commissions, which is where its zero spread offering comes really handy.

Essentially, that means that no matter which asset trader decides to engage with, there will be no gap between the buy and sell price. As a result, traders stand to benefit greatly from industry-leading quotes.

It should be noted that Libertex still has commissions, which are, unfortunately, a part of each trade. But, on the bright side, commissions are usually extremely low compared to competitors, typically below 0.1% per order, so most people do not even really feel it.

The platform offers access to MT4, and it has its own platform online, or in the form of an app for mobile devices.

83% of retail investors lose money trading CFDs at this site.

5. AvaTrade — Top-notch platform offering low spreads and multiple trading platforms

Next on the list of the best trading platform Ireland users should consider, we have AvaTrade. AvaTrade is one of the leading, globally presented trading platforms that has over 200,000 users around the world. It is regulated on 5 continents, so it is available in most regions of the globe. It is also compatible with numerous platforms, which allows it to simultaneously serve experts and novices alike.

AvaTrade offers a decent range of assets, including forex, CFDs, and cryptocurrencies. It also offers trading with leverage, two types of accounts (Standard and Professional), and it is very easy to use.

71% of retail CFD accounts lose money with this provider.

Trading Platforms Ireland - Fee Comparison

Now that you know which are the best trading platforms for Ireland, let’s take a look at how they compare in terms of fees.

Trading Apps Assets & Software Comparison

In terms of available features, assets, and software, these platforms share a lot of similarities, but also some crucial differences.

Best Stock Trading App Ireland

Trading is a big part of a lot of people’s lives, and the development that the sector has seen in recent years definitely reflects that. One example is the fact that most trading platforms now do not require users to sit in front of their computers in order to trade anymore — they can now use mobile apps that many providers offer and trade on the go.

However, it is worth noting that not every provider has an app, and not every app is equally simple to use, or useful, in the first place. Lightyear still leads in terms of user-friendliness, the number of available assets, and let’s not forget the social trading aspect of the platform which makes it easy even for newcomers to quickly learn and earn while doing it.

How to Choose the Best Ireland Brokers for You

The number of available brokers available for trading in Ireland is already massive, and it grows further with every new company that launches and starts servicing the country. However, not all of them are equal, and you have to carefully inspect each platform in order to find whether or not it fits your needs.

While you should inspect every element of the platform before committing to it, there are some that may be more important than others, as you can imagine. With that in mind, here are some aspects that you should pay extra attention to before making your choice. Also, be sure to check the trading app offered by the broker.

Regulation and Safety

Let’s start with regulation and safety. The best trading platforms and brokers must always be regulated and licensed by at least one regulatory body, and the more reputable the regulator is — the better for the broker, and in the end, you — the trader.

Regulated brokers are regularly audited, meaning that the regulators will ensure that their policies have not changed, that their security is up to the standard, and alike. Furthermore, the regulators will also ensure that the brokers are keeping the clients’ funds in segregated bank accounts, meaning that they can’t reach the traders’ money to cover their own expenses and debts.

Finally, regulated brokers are also required to notify their clients in case of risks or security breaches, and be transparent about their shortcomings.

Assets

Next, let’s talk about assets. The trading industry features thousands of financial instruments across dozens of asset classes, with all of them being available somewhere. The traders’ goal is to find the platform that offers the most of them in a single place. The best trading platforms available for Ireland tend to offer assets like:

• Stocks
• Forex
• Bonds
• Commodities
• ETFs
• Indices
• Cryptocurrencies
• Funds

Whether you want to engage these assets directly or work with their CFDs, there are platforms that have them on offer. All you need to do is decide which asset you wish to trade in, and then find where it is available.

Fees

Fees are always present in the trading industry in one form or another. They are the brokers’ primary source of income, after all. However, they can vary significantly from platform to platform, and each platform may have a different combination of them, so pay close attention to that aspect.

Share Dealing Fees

While they do carry the name of Share dealing fees, they also cover other assets, such as mutual funds, investment trusts, and even ETFs. Fortunately, most trading platforms charge flat dealing fees, which means that you can invest $50 or $5,000 and the fee will still remain the same.

This is great for those who wish to use larger amounts. However, something that is even better is having no commission fees at all.

Trading Commission

Alternatively, if you opt to trade assets via CFDs, then you can expect to encounter variable fees on your trading platform of choice. These are much better for beginners, as they will place small orders, and therefore the percentage that they have to pay will also result in small fees.

As always, the amount that traders will have to pay will depend on the platform that they choose to use since each platform works with its own figures. The amount will, of course, increase as your investments increase, but as long as you stick to small figures, the fees will not be too high.

Spreads

As mentioned before, trading platforms and brokers make money even if they don’t charge commissions by using spreads. Spreads are the difference between the buy price and sell price of financial instruments that are available to traders.

If you search for a certain stock on one of these trading platforms, you will see that there is a tiny difference between the buy and sell price.

Turning that difference into a percentage gives you the size of the spread, so make sure to check the spreads of assets you wish to trade across different platforms and see which ones have the most favorable ones.

Other Trading Platform Fees

Apart from commissions and spreads, there are a few other types of fees, such as:

• Overnight financing — this is a fee that you have to pay if your position remains open after the trading hours for the day have ended, and your position will also remain tomorrow.
• Inactivity fees — As the name suggests, if you create an account and remain inactive for prolonged periods, you may be charged a fee.
• Transaction fees — Some platforms let you deposit and withdraw money without any charge, while others may implement a deposit fee, a withdrawal fee, or both.
• FX trading fees — most of the time, brokers will charge a forex fee for users who wish to buy, sell, or trade assets that are not listed in Ireland.

Trading Tools & Features

Apart from looking at the fees and assets that the platforms have available, there are also various tools and features that each platform offers. Some of them are rather similar, and in some cases, platforms may even offer the same features. But, usually, they differ from one another in some way, so check them out carefully before you start using the platform.

Fractional Ownership and Low Minimums

Most retail traders are not willing to invest massive amounts of money in a single investment like institutional traders tend to do. Whether they choose not to or if they cannot afford to do so is irrelevant — they needed another solution, which is where fractional ownership and low minimums come into place. Low minimums simply mean that traders can deposit small amounts per deposit, such as $25 or $50.

This is not that common on professional platforms, which often require hundreds or even thousands of dollars as minimum deposits. As for fractional ownership, it allows traders to buy only a portion of the asset. The asset is essentially split into smaller, cheaper units that are available to traders, and by purchasing them for more affordable amounts, they become fractional owners of the full asset.

Automated Trading

Automated trading is slowly but surely becoming more and more popular in trading. The concept behind this term is active trade without having to do much, or sometimes any research at all. In fact, some automated trading tools can even post orders on traders’ behalf, by analyzing the market and spotting new opportunities.

They are not entirely independent, and their work is bound by the rules that the traders introduce, but even so, they can often be left to trade unattended with a small initial deposit which they can increase by using good trading opportunities as soon as they emerge. And, since these tools are run by software, they can assess and analyze any new situation much faster than a human could.

Orders

Regardless of which trading platform the trader uses or which asset they wish to access, they always have to place orders in order to get them, as well as sell them. These orders allow the platform to know what the trader wishes to do.

While buy and sell orders are available on all trading platforms, it is worth noting that only the best of them offer risk-management orders, such as take-profit, stop-loss and trailing stop-loss, or even guaranteed stop-loss orders.

Research and Analysis

It goes without saying that research and analysis are the very foundation of successful trading. While automated trading software and copy-trading have somewhat reduced the importance of research for newcomers, they are still advised to conduct research and educate themselves on the current state of the market, as well as the asset that they wish to trade.

This is why you should always choose platforms that offer analysis tools. When it comes to experts, the more tools there are — the better. But, for novices, too many tools that are too advanced may be intimidating, so they should start at user-friendly platforms.

Demo Account

Demo accounts are essentially fake accounts that deal in fake money. As such, they won’t let you earn money, but they are still priceless when it comes to learning practical experience. Demo accounts offer a simulated market where you can react to the opportunities as the software creates them, and see how each of your decisions may affect the final outcome.

They are also great for trying out new trading and investment strategies, so even experts tend to use them from time to time in order to try out new approaches.

Mobile App

As mentioned, trading while sitting in front of your computer all the time can be not only boring, but quite tiresome, and most people can’t afford to do it, as they have to move around, whether for work or due to their lifestyle. This is where mobile apps come in extremely handy, as you can check the market whenever you want, and wherever you might find yourself at any given time.

By using your app, trading is never too far away, and neither are new opportunities. Never again will you hear of the opportunities at the end of the day, and regret not being there to make a profit. However, in order to get the app that is easiest to use, you need to compare different brokers and see what each of them has to offer in this regard.

Payment Methods

The platforms that offer the most payment methods are, naturally, the best for the biggest number of people. Every trader has their own preference in how to deposit money, be that bank accounts, credit or debit cards, cryptocurrencies, PayPal, Skrill, or some other service.

So, the platforms that offer the most diversity in their supported payment methods are likely to attract all traders, regardless of which method they prefer. With that in mind, check your preferred platform’s payment methods and ensure that you are comfortable with what they have on offer before proceeding.

Customer Service

Last, but not least, we have customer service. Customer service is an extremely important part of any business, but especially of those that work with money.

With that said, you need to have reliable customer service, preferably one available through multiple methods of communication, and if it happens to be available 24/7 — all the better.

That just means that you will be covered at any time, which can be priceless when you encounter a problem while putting your funds on the line.

How to Get Started with the Best Broker Ireland?

If everything so far sounds good to you, you might just be ready to get started. In order to do that, you must go to your platform of choice and set up an account. The procedure is rather simple on most platforms, and we will demonstrate it by using Lightyear.

Step 1: Open a Trading Account

To open a Lightyear trading account, you will need to head to the Appstore and download the mobile app.

From here, you will be able to sign up to the platform using your email address and phone number.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Step 2: Confirm Identity

After registering, you will be required to confirm your identity in order to proceed. This is called a KYC (Know Your Customer) procedure, and it is meant to protect you by letting the platform know that you are who you say you are. That way, nobody can trade by using your identity and cause you trouble later down the line.

On Lightyear, you can verify your identity by providing your government-issued ID, passport, or driver’s license. You also need to provide proof of address, which you can do by submitting bank statements, bills, and similar evidence.

Step 3: Deposit Funds

Once you have your account set up and your identity verified, it is time to fund it. On Lightyear, doing it is extremely simple. All you need to do is navigate to the deposit tab and fill out the amount, your preferred payment method, and other details that are required.

Step 4: Search for a Trading Market

With your account funded as well, you are ready to start trading. Simply search through the market for assets that seem interesting to you, research them, and enter a position, or if you have a specific asset in mind, you can find it by using the search function at the top of your dashboard, or by looking through specific categories on the platform.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Best Trading Platforms Ireland Conclusion

Ireland is becoming increasingly interested in trading, which was also noticed by many of the brokers and trading platforms that rushed to serve its users, including beginners and experts alike. However, new traders need to know that choosing the right platform to conduct their trades is half the job, sometimes even more than half, which is why special attention needs to be dedicated to this step.

Hopefully, our guide will help you understand why this matters so much, and how you can assess the platform and decide whether it is good for you or not.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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