Hello, dear friends! When choosing a company to work on the stock market, it is not enough to check the availability of a license from the Central Bank of the Russian Federation and briefly look at the reviews. You will have to study competitors based on many parameters, including the number of available markets, tariff plans, commissions, software offered, and requirements for the size of the first deposit. The rating of brokers in Russia will help you when choosing - it will take you about 15 minutes. You will save many hours studying company websites and their operating conditions.

It is impossible to cover all brokers licensed by the Central Bank of the Russian Federation within one material. I limited myself to 4 companies with different requirements for the starting deposit. Below you will find options for both beginners and those who plan to invest large sums.

What broker indicators should you consider when choosing?

An impeccable reputation is a necessary but not sufficient condition for choosing a company. I recommend any evaluate the broker according to the following criteria:

By default, there should be regulation by the Central Bank of the Russian Federation, an impeccable reputation and Russian registration. No offshore companies, sky-high leverage and support for instruments such as binary options.

The best brokers operating in Russia

I will dwell in more detail on 4 companies offering services to Russian traders. The TOP included: BKS(leader in turnover on MICEX), Finam, Tinkoff And United Traders. For each, we will study the conditions in more detail, and then draw up a final table comparing the characteristics.

BKS

Founded in 1995, there are no problems with reliability, the broker’s work is regulated by the Central Bank of the Russian Federation. Through BCS you can work in both Russian and foreign markets.

Main characteristics:

There are no problems with reputation; the only thing that can confuse a newbie is the size of the starting capital. Still, 50 thousand rubles. - this is the minimum amount with which it is comfortable to start, but it is better to have 60-100 thousand rubles. For beginners, this may be too high a barrier to entry.

Open a trading account with the BCS broker

Finam

The entry threshold is slightly lower here. In terms of reliability and other indicators, it is at the level of BCS; Finam is one of the best brokers in Russia:

The good thing about Finam is that Kwik is free and there are fewer initial deposit requirements. Otherwise comparable to BCS.

Tinkoff investments

Reviews characterize this service as a solution ideal for beginners. There are no high requirements for the starting deposit; the trading process is organized as simply as possible. Another trump card is maximum transparency, no hidden fees.

Company characteristics:

Tinkoff is developing well due to a marketing campaign and name recognition in Russia. In just a couple of years, the rating of Moscow Exchange brokers in terms of the number of active clients gives the company second place. The gap from the leading Sberbank is small, so Tinkoff may take first place before the end of the year.

Open an account with Tinkoff Investments

United Traders

The company is suitable for those who plan to work with small start-up investments. This is a Russian broker, the head office is located in the capital of the Russian Federation. Let's go through the characteristics:

In terms of the number of clients, United Traders cannot compete with TOP brokers, but the company still has achievements. Yes, hedge fund Kvadrat Black, founded by United Traders, showed good results. In the past, the broker received an award in the category “ Best Private Investor» from MICEX.

Make money on IPO with United Traders

For ease of comparison, we will create a summary table with the conditions of the listed brokers.

			Tinkoff
Starting capital, rub.	From 50000	From 30000	From 30000	From $300
Commission (per transaction and for the full circle – purchase + sale)	0.0177% and 0.0354% in the starting tariff plan	0.0354% and 0.708%, also depends on the tariff	0.3% and 0.6% for the “Investor” plan	$0.02 and $0.04
Opportunity to open an IIS	+	+	+	+
Account servicing, rub./month.	0.177% of daily turnover, but not less than 177 rubles/month.	177, when assessing the account at the end of the month for less than 2000 rubles. increases to 400	99	-
Depository payment, rub./month.	177	177	-	-
Leverage	Calculated, usually in the range 1:2-1:6	Up to 1:8	-	1:20 for the “Day Trader” tariff, for others – 1:10 and 1:5
Software	QUIK, MT5, TSLab, TradeMatic Trader, BCS Setup CQG, TrustManager	QUIK, Transaq, FinamTrade	Web terminal, mobile application	Aurora, PairTrader, Sterling Trader, LaserTrader, Volfix.Net, Fusion
Cost of using trading platforms, rub./month.	QUIK – 300; MT5 – 200. Reduced by the amount of the trading commission, when evaluating an account from 30 thousand. Free software	WebQUIK – 350; iQUIK – 350. Desktop platforms are free	-	Aurora is paid only for the “Day Trader” tariff – $60/month.

I note that all of the listed brokers allow you to open an individual investment account. If you have not previously taken advantage of their benefits, it will be useful.

Reliable foreign brokers

In the previous section, attention was paid to companies operating in the Russian market. But if you plan to focus on foreign markets, it makes sense to open an account with a foreign company. Below I will give a brief description of brokers that are good in my opinion.

Although this company’s registration is offshore, for a beginner Just2Trade is the best option to start working in the stock market with minimal costs. All you need for this is $200 .

Broker characteristics:

• Founded in 2006, acquired by Finam in 2015.
• To work, you need a deposit of $200.
• The standard regulator for offshore companies is CySEC; in Europe, the requirements of the MiFID II directive are met.
• The main feature is working from a single account on all popular platforms in the world.
• In addition to stock market instruments, Forex and cryptocurrencies are available.
• Work is carried out through MT4/5, CQG, Transaq, ROX.
• There are a lot of methods for replenishing your account and withdrawing funds. A profitable scheme when working through Finam bank - you can top up in dollars without commission.
• Leverage on Forex reaches 1:500, on the stock market - at the level of Russian brokers. There is also margin trading for cryptocurrencies, leverage reaches 1:5.
• The commission depends on the market; when trading on NYSE/NASDAQ, the company will charge $0.006-$0.002 per share, but not less than $1.5 per trade or $3.5 per cycle. I recommend checking out other tariffs by this link.

Just2Trade has investment options - PAMM account service, trust management.

Please note, unlike, for example, BKS is not a tax agent, so you will have to pay your taxes yourself. It was published earlier, in which this issue was examined in more detail.

Open an account for the US market and currency pairs on just2trade

The company is a subsidiary of the world famous company. In essence, we get the same reliability as in IB, but the minimum deposit requirement is not as strict as in the parent company.

Broker characteristics:

• To trade you need a deposit of $2000.
• The company is regulated by SIPC, FINRA, FSCS.
• A huge number of assets available for work - more than 1.2 million.
• Commission per transaction is 0.1%, per cycle – 0.2%, in currencies not less than $2/€2 and $4/€4.
• CapTrader does not charge any money for account maintenance and depository.
• Leverage up to 1 to 400, less for shares.
• A demo account is provided with a validity period of 1 month.
• There is an option to top up your account through Citibank in rubles.

The only thing that the broker can be reproached for is its website (the usability is lame) and the reaction of technical support to customer requests. They respond very slowly and there is no 100% guarantee that you will receive practical advice and not a formal reply. The presentation of information on the website leaves much to be desired.

IB characteristics:

• Starting capital – from $10,000.
• In addition to the SEC, the company's work is regulated SIPC, NFA, FINRA, CFTC. The FDIC insures deposits up to $2.5 million.
• You can trade literally anything; there are no fewer tools available than in CapTrader.
• The maximum commission reaches 1%, but is usually several times less. Tariff plans are described in more detail Here .
• IB gives 1.87% on the account balance at the end of the year.
• The set of trading platforms is standard – Trader Workstation, IBKR Mobile, WebTrader. There is IBot, it can recognize voice commands.
• Account maintenance is free only if its estimated value exceeds $100 thousand. Otherwise, you will have to pay $10 every month (even if there was no activity on the account). If the client is under 25 years old, a discount is given and you will have to pay $3 for the service. All clients are given a discount on the amount of the trading commission.

The only thing that can scare off in the case of IB is the high requirements for starting capital. Otherwise, we have an almost ideal company; there is strict regulation, high reliability, deposit insurance and hundreds of thousands of assets available for trading.

Open an account with IB

For ease of comparison, I will summarize the main data in a table.

Start-up capital	$10,000, for day trading $25,000	$2000	$200
Account servicing	$10/month and $3/month. for clients under 25 years of age	-	$5/€5/350 rub. minus trading commission
Trading commission (trade and cycle)	Up to 1.0% and 2.0%	0.1% and 0.2%, not less than +$2/€2 and $4/€4	Per share $0.006-$0.002 and $0.012-$0.004 (US market), minimum – $1.5 and $3.0
Additional fees	Options on American securities - $0.000119 x N securities + $5.95 (per 1 trade) + 0.0000207 x Profit on selling securities	-	On the OTC market, the commission is $30 or 0.75% of the position volume. Dividend shares – 3% by issuer (minimum $3). On the MICEX – $2.2.
	For the American market 1:4	Up to 1:400	Forex – up to 1:500, on a single account – 1:50

Summary

It is difficult to say unequivocally which broker is the best in Russia. If we evaluate trading conditions, reputation, and turnover on the MICEX, then BKS. They offer adequate commissions, you can open an IIS of both types, and thousands of trading instruments are available. Another thing that speaks in favor of BCS is that on the MICEX this company is the leader by a wide margin.

If you don’t yet have money for a substantial deposit, you can open an account with. To do this, you will only need $200, you will develop practical skills and at the same time save for a larger deposit in a more serious company.

If you have any comments about the brokers included in my rating, leave them in the comments. Share your experience working with these companies there.

This concludes today’s review; I wish you success in investing and stable capital growth. Don't forget to subscribe to my blog updates. This way you will be among the first to know when new materials are released on the site.

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It has become traditional for us to conduct an annual review of the brokerage services market and publish an annual ranking of the Best Brokers (our previous articles “ ” and “ ” were read by more than 150 thousand people), which indicates the high demand for such research.

This article will cover 3 main questions:

How to evaluate and choose a reliable broker in 2019.

Evaluation of top brokers according to key objective criteria, and this year we collected reviews from real people about top brokers. Also at the bottom of the article you can download a complete study on top brokers.

New 2019 in the brokerage business

Like any other industry, the financial services sector is in constant development, new players are emerging, the level of existing market participants is growing in response to increasing customer demands, and the portfolio of services provided is expanding. Since the publication of our last article (“”), 2 main changes have occurred:

Most companies have started providing their customers with the opportunity to open an account online.

Almost all operators now have mobile applications.

How to evaluate a broker

As of the date of writing, according to the Moscow Exchange, the number of trading participants or, in other words, companies with access to the securities market, was 326. How to make a competent and informed decision in choosing a broker? How not to get confused in the saturated information flow on the websites of brokerage service operators? In our article we will try to help you navigate this issue. We’ll tell you what criteria to use to evaluate a company and what to focus on. The diagram below shows the steps to evaluate a broker; then we will look at each step in more detail.

How to choose a broker

We highlight 8 criteria for evaluating a broker. The basic criterion in choosing a broker is its reliability. The reliability indicator is based on the first two criteria in our assessment:

Does the company have a license?, that is, a special permit to carry out brokerage activities. It is issued by the Central Bank of the Russian Federation. The license confirms that the company has the appropriate professional competencies and the right to engage in financial activities on the stock market in principle. It is illegal to operate a broker without a license. Therefore, by trusting your money to a company without a license, you are working with lawbreakers with all the ensuing consequences. As a rule, such cases are common in the Forex market, where currently the number of licensed companies can be counted on the fingers of one hand. Today’s review will focus exclusively on top stock brokers whose licenses are in order. You can check the availability of a license on the Central Bank of Russia website

Broker's market positions.

In this matter, you can refer to such indicators as the company’s rating by the size of its customer base and the amount of turnover. It is better if the company you choose is in the first TOP 4. For a long time, the list of these companies has been stable; only intra-group changes in the ranking have occurred. This is an indirect, but fairly reliable indicator of the broker’s reliability. The top five brokers are large investment or financial groups that are professional market participants who have stood the test of time and other investors.

The presence of a license and market position characterize the legality and scale of the company’s activities and, as a result, most strongly characterize the reliability of the broker. As additional criteria for choosing a broker, we will highlight 6 additional specific points. The degree of importance of each criterion for different groups of investors is individual.

Possibility of remote opening of a brokerage account.

Not all TOP-rated companies have a developed branch network. Moreover, there may be no representative offices even in large cities. This criterion is especially important for residents of remote corners of the country, as well as for residents of the Republic of Crimea and the city of Sevastopol, where the choice of financial intermediaries is very limited. In such cases, an important criterion for choosing a broker will be the availability of an online account opening function. Today, most brokers have such a service, and below we have indicated the availability of this service for all brokers in the review.

Starting amount for investment.

When communicating with brokerage company specialists, you can often hear the phrase: “You can start investing even with 1000 rubles.” This is a common marketing ploy. Many companies do not indicate threshold amounts, but this may have its own pitfalls. The specialist’s task is to do his job, that is, to sell the product; he may not tell you about many nuances. But your goal is to get maximum efficiency from the capital you invest in the form of a decent % income. Therefore, it is worth paying attention to what is most often written in small print and under the “*” sign. It is a fairly common practice to impose additional costs on clients with brokerage account amounts below a certain level. Based on the experience of studying brokerage companies, this threshold is 30-50 thousand rubles. Possible options for “over-costs”: a fee for using the Quik software (“”), setting a subscription fee for brokerage and depository services in the form of a fixed amount that does not depend on the frequency of transactions. For investors with small amounts of assets, these costs can be considered “ruinous.” Therefore, when choosing a broker, it is imperative to take this point into account. In the analysis, we called this item “minimum amount to open an account” and indicated this item for each broker.

Broker commission.

There are a lot of myths and misunderstandings about brokerage commissions. Many people think that the broker will charge too much. In this article we will clarify these points. Naturally, the broker does not work for free and charges a commission for providing access to the exchange. Brokerage fees include:

• Brokerage commission, which directly depends on the frequency and amount of transactions made on the securities market.

  What is important to pay attention to: if you are planning to engage in investments and not trading, then the number of transactions the investor has is small, and therefore the commission for the investor is, as a rule, insignificant (we wrote about the difference between the approaches of investing and trading in the article “”). However, the investor should remember that some brokers may have so-called “threshold commissions”, when the client pays a certain minimum amount when making a transaction, even if the transaction was small. There may also be a monthly subscription fee, which, with a small capital, may be unprofitable for the investment approach. At this point, we will pay attention to each broker and indicate the presence or absence of fixed threshold commissions and subscription fees.

  Payment for depository services related to the storage of securities (you can find out what a depository is in our article “”). Some brokers in our analysis do not have depository fees. But in such cases, as a rule, these costs are taken into account as part of the brokerage commission tariff.

  Commission for providing a loan when carrying out so-called margin transactions. The loan can be either cash or securities. Often, during one trading session, margin transactions can be carried out without commission, and if the loan is provided for a period of more than one day, the broker charges a fee in the form of an annual percentage of the borrowed amount. Operations with leverage are carried out by fairly experienced investors. For beginners, we categorically do not recommend using this risky mechanism for making transactions, which is associated with the potential possibility of losing part or the entire amount of capital.

Software

Access to trading and transactions with financial assets on the exchange platform is carried out using special software. The standard option is the QUIK program. The program distribution can be downloaded from the websites of all top brokers. Many companies provide the opportunity to install demo versions of the QUIK program, which is very convenient for a preliminary acquaintance with the process of making transactions.

Appearance of the QUIK program:


In addition to standard software, brokers currently offer QUIK mobile applications, as well as mobile applications of the brokers themselves, in which you can view personal account information, account balances, and so on.

Appearance of the mobile applications BCS-broker (left) and Sberbank-broker (right):



Access to exchange platforms.

If you want to trade foreign securities, you will need access to the trading platform. Unfortunately, not all major Russian brokers can provide such access. Therefore, focus your attention at this moment if your field of interests, in addition to the Russian stock market, includes the assets of international companies.

Convenience and conditions for depositing/withdrawing funds from a brokerage account and withdrawing funds.

Depositing funds into an account without commission is possible through the broker's cash desk, through the broker's card or personal account (if it is a broker and a banking organization in one person). If the account is topped up by bank transfer or from a card of another bank, then the bank serving you may charge a commission for the transaction according to its tariff. Withdrawing funds from a brokerage account is usually carried out without commission; fees are possible for urgent withdrawals. But there are exceptions. A number of top ten brokers charge commissions, including for withdrawals. Depending on how often you plan to make deposits/withdrawals of funds, such a commission can turn into 1-2% of the hidden costs of your assets. We will also cover this point in detail for each broker.

Based on a certain list of characteristics, we will analyze companies that provide access to exchange platforms. To begin with, we present to your attention the ratings of existing brokers according to official data from the Moscow Exchange:

We consolidate these two lists of companies in order to form a rating of brokers that simultaneously meet two conditions: massive (the largest client base) and generating the maximum trading turnover.

TOP 11 brokers on the Russian market

Next, we will conduct a detailed analysis of a selected group of brokers according to established criteria. At the same time, in terms of tariff plans, we will analyze the starter packages that are recommended by companies for novice investors (with an account of less than 1 million rubles and a small number of transactions per month).

FG BKS is a company at the forefront of the development of brokerage services in Russia, a broker with more than 20 years of experience in the stock market. During this time, the company has accumulated extensive experience in the investment field and gained the trust of a large number of investors, including the country's leading financial institutions. Investment activity is a core area of ​​the company’s activities, therefore all resources are aimed at developing and improving business processes, the main goal is to improve the quality of services offered to its clients. Below are the key service parameters of this broker in accordance with the current tariff policy:

Advantages of the BCS broker:

Flexible tariff policy for different investment profiles.

Access to Eurobond trading and the St. Petersburg Trading Exchange.

High professionalism and level of technical support. Support service 24/7.

Great variability of online trading systems.

Disadvantages of the BCS broker:

There are threshold commissions, but they become insensitive when investing passively and the amount of capital is from 100 tr.

Unfavorable tariff policy for investors with small amounts (up to 30 thousand rubles).

Broker Sberbank

Sberbank is the largest bank in Russia, an absolute monopolist in the banking sector. In addition to permission to carry out banking activities, it has licenses for brokerage, depository, and dealer activities. In terms of the number of brokerage clients, as well as the number of open individual investment accounts, it is in a leading position, with a significant gap from its closest competitors. The bank is the main creditor of the Russian economy, its brand is synonymous with stability and reliability. Of course, this determines the success and leadership position of the company also in the rating of brokers. Below are the key service parameters of this broker in accordance with the current tariff policy:

UPD Significant changes.

From 01.09.2019 The commission for depositary services was canceled (previously 149 rubles/month if there were transactions on the account).

From 05/01/2019 the commission for brokerage services was reduced from 0.075%-0.165% to 0.060% (“Independent” tariff plan for transaction volumes up to 1 million rubles).

Advantages of the Sberbank broker:

There are no restrictions on the amount of opening a brokerage account and no threshold commissions.

Transparency of tariff policy – ​​no hidden fees.

Free software.

The extensive geographical presence of the bank's divisions, which ensures the availability of the company's services almost anywhere in the country. Together with the largest network of terminals, it makes it possible to replenish and withdraw funds from a brokerage account without additional commissions.

Disadvantages of the Sberbank broker:

Significant commission for brokerage services, unlike other TOP list companies.

Lack of access to the St. Petersburg Trading Exchange.

A narrow range of tariff plans.

Broker "FC Otkritie"

FC Otkritie is one of the largest banks in Russia. Has licenses to carry out brokerage, dealer and depository activities, a license to carry out banking operations. Due to introduction in 2017 In relation to the bank of the same name, which is part of the group, the reorganization procedure, the reputation of Otkritie-Broker was somewhat damaged. In December of the same year, Otkritie Broker joined the Otkritie Bank group. But despite the negative information background around the company, Otkritie Broker retained its position in the TOP 5 of the exchange rating. In commentary on this situation, we would like to note that among brokers from the top 5 since 1992, i.e. Since the beginning of the Russian stock market, there have been no bankruptcies or revocations of licenses. Otkritie Broker is a company with a positive reputation and a long history that has been carrying out brokerage activities almost since the founding of the Russian stock exchange.

Terms of the tariff policy of the Otkritie FC Bank Group in accordance with the key criteria for brokerage services:

Advantages:

Access to trading in foreign securities and Eurobonds.

Possibility of remote opening of a brokerage account.

Flaws:

High percentage for brokerage services in comparison with the starting tariff plans of the top five brokers.

Availability of a threshold amount for opening a brokerage account, threshold commissions for transactions.

Commission for withdrawal of funds.

Broker JSC FINAM

JSC FINAM is a large financial group. This is one of the first companies in Russia that began providing brokerage services (along with the broker FG BKS), the first Russian company to receive a forex dealer license. The group companies are authorized to provide a wide range of services: brokerage, dealer, depository activities, securities management, management of investment funds, mutual funds and non-state pension funds. There is also a license to carry out banking operations with funds in rubles and foreign currency. Key parameters of the starting tariff plan of the broker Broker JSC FINAM:

UPD: Significant changes. From December 4, 2018 the broker has launched a special FreeTrade tariff plan, which allows you to carry out trading operations on the Moscow Exchange stock market without brokerage commission. Conditions: opening an account online, topping up the account upon opening with an amount of 30 thousand rubles or more, trading from a mobile phone in the FinamTrade application.

Advantages:

Low commission for brokerage services.

High level of consulting and technical support.

Access to the stock market of the St. Petersburg Exchange and the ability to carry out transactions with Eurobonds.

Wide range of software for online trading.

Possibility of remote opening of a brokerage account.

Flaws:

Availability of a subscription fee for servicing a client account by a broker, a threshold commission for brokerage services.

Paid access to selected applications for online trading.

Commission-free replenishment and withdrawal of funds from a brokerage account is possible only at the offices of FINAM Bank or the broker's cash desks. Commission for withdrawal of foreign currency from the Client account.

Broker VTB

VTB is, first of all, one of the leaders in the banking sector of the Russian Federation, second in the ranking after Sberbank. It has the largest branch network in the Russian Federation. It has a diversified business model: it has licenses to carry out brokerage, dealer and depository activities, as well as a license to carry out securities management activities. Traditionally, for several years now it has been in the TOP 5 mass Russian brokers. Conditions of the company's tariff policy in accordance with the key criteria of brokerage services:

UPD: Significant changes. 04/15/2019 For clients of brokerage services VTB broker has access to the St. Petersburg Exchange platform.

Advantages:

There are no threshold amounts for opening a brokerage account and no threshold commissions.

Relatively low commission for brokerage services.

A large regional network of branches and representative offices, a wide distribution of terminals and ATMs.

Free trading systems and mobile applications.

So, we have analyzed in detail the 5 top Russian brokers that meet the reliability criteria according to objective criteria. In addition, the list of reputable brokers based on data from the Moscow Exchange includes ALOR+ LLC, ATON LLC, Bank GPB (JSC), PJSC Promsvyazbank, KIT Finance (JSC), JSC IC IT Invest. These companies have also earned the trust of investment community, most of them have solid experience in the brokerage services market, offer interesting and worthy investment products, and they can also be considered as full candidates when choosing an intermediary to implement their investment strategies. You can get full analytics on these brokers by clicking on button below, our VKontakte chat bot will open - then write the word “ broker» and our chat robot will send you a link to the full study!

From the article you will learn about stock market brokers. What do they do, how and what do they earn from. How much do they get? Let's look at the main difference between brokers on the Forex currency market and exchange brokers. How much money do you need to start trading and what to pay attention to. Why do brokers recommend trading more often and is this right?

So, let's go!

Who are stock brokers?

If you don’t go into boring definitions, then in simple words, a broker is an intermediary who allows you to make transactions for the purchase and sale of securities on the stock market.

How does this happen?

Only professional market participants can make transactions directly on the exchange. Having the appropriate licenses. Regular individuals (and legal entities) are not allowed to enter.

To gain access to the stock market, you need to enter into a service agreement with a broker. Deposit money into the account. And you can start trading. That is, buy stocks, bonds, currency, and so on.

The transaction scheme is as follows.

1. You submit a purchase order, for example, I want to buy 100 shares of Gazprom.
2. The broker checks whether there are sufficient funds in your account for the purchase.
3. If everything is fine, the application is submitted to the exchange.
4. The exchange connects you with a seller who has the required number of shares for sale at the best price.
5. The transaction is completed and the exchange transmits the information to the broker.
6. The broker records the fact of purchase in your account (debits money, credits shares).
7. In your portfolio you see the shares you purchased.

All these actions happen literally in a split second. The reverse situation (selling) looks similar.

How do brokers make money?

Considering that the broker is the liaison between you and the exchange, he charges commissions for his intermediation.

For each transaction on the stock exchange, a small percentage is taken from clients. Of course, “percent” is a strong word. Usually we are talking about a reward of tenths and even hundredths of a percent of the transaction amount.

For example, a client purchased shares for 100 thousand rubles. The standard average broker commission is 0.05%. Total 50 rubles.

To people who are far from the stock market, this size of commissions will probably seem completely unrealistic. Everyone is accustomed to the fact that intermediaries in other areas charge much more - 5-10 and even 20%.

How can a broker make money by charging such “ridiculous” percentage points?

The main profit comes from turnover. Imagine that a broker has several hundred thousand clients. And everyone makes several transactions a month. There are clients who make tens or hundreds of transactions in just one day.

And with each such operation, the broker receives a small penny. Considering that the output of transactions to the exchange is automated, the broker can only maintain the functionality of the servers.

The second way brokers make money is through additional services.

How much do brokerage services cost?

As already mentioned, a broker makes money through intermediary services. Charges a certain amount per transaction. It doesn't matter which one. Buying or selling. And it doesn’t matter why. Stocks, bonds, ETFs, currencies, futures or options.

If we take the stock market (stocks and bonds), then the amount of commissions can vary from 0.01 to 0.1% of the transaction amount. It all depends on the tariff connected by the client.

Tariff conditions depend on the amount in the account and the frequency of trading. Someone has millions in their accounts and makes rare transactions. And others, with modest amounts, can make tens or hundreds of transactions in just one day.

Before choosing the “right” tariff that suits your goals and capabilities, you need to know approximately how much you will be operating and how often you will make transactions on the exchange.

A broker will help you with this. He will recommend a tariff that is more favorable for you.

As a last resort, all brokers have so-called “universal” tariffs (or a tariff for beginners). Feel free to choose it. It can be changed later.

Additionally, the broker may set a minimum monthly commission that the client must pay.

Usually it is 200-300 rubles per month.

For example, if for a month 150 rubles were withheld from a client who made transactions in the form of commissions. And the minimum fee from the broker is 200. Then at the end of the month another 50 rubles will be debited. If the client has already paid more than 200 rubles as a result of transactions, then nothing will be written off.

For some brokers, the minimum fee is completely waived when a certain threshold of the minimum amount in the account is reached (50-100 thousand rubles). And all that remains is the “bribe” for performing transactions.

The second point is how much will it cost you? Or the amount of trading costs or commissions. Here you will have to do some analysis of brokers' offers. It is impossible to say for sure that this broker is the most profitable. And the other one is too expensive.

The range of tariffs presented is different for everyone. The most favorable tariff schedule for the long term may be with one broker. But for active trading, the “profitability” is different. With large capital it is better to work with the third one. And the fourth broker allows you to open accounts with small amounts without minimum monthly payments.

The third point is convenience for you. This includes replenishing and withdrawing money from the account (input/output speed, fees for these operations, what methods can be used to replenish the account and withdraw money). Opening an account (online or personal visit to the office). Solving various issues with a broker.

Before you start choosing, it is advisable to know about.

How to conclude an agreement and start buying stocks or bonds

After choosing a broker, you have 2 options.

1. You stomp your feet to the office. Taking documents with you (usually a passport, INN and SNILS). You read everything there, sign an agreement and get access.
2. Concluding an agreement online. Nowadays, many brokers provide online account opening services. Leave an application on the website, filling out all the necessary forms. Broker to call back. He will answer your questions and help you choose a tariff. If everything is satisfactory, he will send you a signed contract.

After concluding an agreement, you get access to trading on the exchange. And all you have to do is top up your brokerage account and you can start trading.

Trading is carried out through a trading terminal (in Russia this is mainly Quik).

But here you need to spend time studying its functionality. The websites of all brokers have instructions for setting up the terminal. The terminal is convenient for analyzing and selecting the necessary papers. Monitor price levels and current positions. Submit conditional orders. Analyze price charts using a dozen different technical analysis indicators. Build support and resistance levels. And much more.

The second option is to buy online through applications or your personal account on the broker’s website (not everyone has it). Here we have slightly reduced possibilities. And the transaction procedure itself comes down to buy and sell buttons. And it’s more like an online store.

The third option is “call a friend.” Or rather the broker. What does it look like? Dial a broker (the contact number will be given when opening an account). Says the code word. And say: I want to buy shares of Gazprom - 1000 shares (or 100 thousand rubles). The broker immediately makes the purchase at the current price on your behalf.

What is the difference between a broker and a trader?

As we found out, a broker is an intermediary between clients and the exchange. He acts and makes transactions on behalf and with clients’ money. Like through direct instructions. The same goes for trust management.

A trader is a person who makes transactions on the stock exchange using his own and borrowed funds. Accordingly, through a broker.

In simple words, a trader is a customer. And the broker is the executor of the trader’s “will”.

Accordingly, the broker’s profit is generated through commissions. It doesn't matter to him whether the price rises or falls. Market crisis or economic recovery. Clients make transactions and bring income to the broker.

And the trader has a speculative profit (bought cheaper, sold more expensive). It was successful - it worked. It didn’t work out - I recorded a loss.

Where are shares purchased through a broker stored?

All securities traded on the stock market are in book-entry or electronic form. All information about current owners is stored on special servers - .

They can be independent or operate under the wing of a broker. We can say that a depository is an analogue of a deposit in a bank. Only instead of money, there are securities there: shares, bonds assigned to a specific owner.

In this case, we have higher reliability compared to keeping money in a bank.

Who controls Russian brokers?

All brokerage activities are under the watchful eye of the Central Bank. He also issues licenses. To do this, you need to have a significant authorized capital. Have appropriate financial education.

Failure to comply with or violate established rules may result in the broker losing his license. And as a result, lose the right to provide brokerage services.

A list of brokers with valid licenses to operate is available on the Central Bank website. There are more than three hundred companies in the table (at the time of writing - 372 organizations).

How much do brokers earn?

Indirectly, the level of income of leading brokers can be assessed by the monthly trading turnover of their clients. Top brokers are talking about amounts of several hundred billion rubles.

Multiply by average commissions (0.03-0.06%). And we get the amount of revenue. Minus the costs of maintaining servers, rent, advertising and employee salaries.

A list of brokers by trading turnover is regularly published on the Moscow Exchange website.

If we talk specifically about brokerage company employees, the average salary level depends on the region. The minimum payment starts from 60-70 thousand in Moscow. In other cities it is usually from 30-40 thousand.

This is basically the base salary. Bonuses depend on plan completion. And how there is no such ceiling. Having “hooked” a couple of large clients operating with multimillion-dollar capital, the broker will constantly receive good deductions from their trading.

At its core, the work of a broker comes down to the activity of a sales manager. And not for trading on the stock exchange. “New” clients are assigned to the “sales person”. They trade and the office makes a profit. A certain percentage goes to the broker personally (usually from 10 to 30% of the commissions paid by the client for transactions).

A credit broker is an intermediary between a bank or other credit institution and a borrower. A broker works for a fee and assists in obtaining a loan/loan on terms favorable to the client. In times of crisis and tougher requirements for potential borrowers, banks are more loyal to clients referred by partner brokers. Borrowers themselves understand this, which is why the market for intermediary services continues to grow. Choosing a suitable and honest broker in such a variety is quite difficult. We have made a selection of brokerage companies in Moscow that enjoy the greatest trust among clients.

Trusted credit brokers in Moscow:

Broker Credit Laboratory.

Credit Laboratory is the oldest credit broker on the Moscow market. Thanks to our own automated customer verification system, Credit Laboratory specialists can assess the chances of receiving a loan online or by phone. If you are planning to get a loan urgently, you should contact this place, since this particular credit broker offers a unique lending program: Cash loan from 1,000,000 rubles at 21% per annum in rubles on the day of application. The second line of business is mortgage brokerage, thanks to discounts on bank rates, they offer primary mortgages at 8% and secondary mortgages at 10% per annum in rubles without proof of income and with a bad credit history.

Credit broker Moscow Lending Center

Moscow lending center – credit broker! Assistance in obtaining a loan in Moscow and major Russian cities

In the brokerage services market since 2016. Provides professional assistance in choosing credit products. To do this, first of all, she provides high-quality consultations for her clients. Never, under any circumstances, requires advance payment from its clients. Operates strictly according to the law. We are ready to help anyone who asks. Main areas: express lending to individuals, collateral and mortgage. Commission after completed work!

• Express loan using your passport in 1 hour
• Loan secured by real estate in 1 day
• Urgent redemption on the same day
• Mortgage in 7 days in Moscow and Moscow
• Loan for legal entities within 3 days
• Car loans on the same day

First credit broker

1st Credit Broker has been providing professional lending services for over 10 years. Throughout the entire period of activity, he demonstrates stability and a high level of professionalism. Our motto is constant development. We never stand still and find a way out of any difficult situation, which is why we are reliable partners.

Specializes in providing assistance in obtaining a loan of any type. With us you don’t have to worry about the purity of the transaction. Each loan application is secured by an agreement; there are no prepayments or hidden fees. Is an official credit broker, provides assistance in obtaining a loan in Moscow and the Moscow region for individuals, for various purposes in a short time

We will select the optimal loan product for you:

• cash loan from 9.9% per annum
• mortgage lending from 9% per annum
• refinancing
• loan against real estate encumbrances
• credit history check

Finance Credit

Finance Credit is an “experienced” brokerage company in this market, offering individuals and legal entities assistance in obtaining loans on favorable terms (mortgages, express loans, consumer lending without certificates and confirmation, car loans, refinancing, collateral loans). The broker rather assists in obtaining a loan, negotiating more favorable conditions, rather than conducting the entire transaction from A to Z.

For its services, the company charges a fee upon receipt of money by the client; the minimum cost of services starts at 7% of the loan amount and depends on the complexity.

Royal Finances

Royal Finance (Royal Finans) - provides consulting services, assistance in selecting a more profitable loan and paperwork. This broker does not have a specific specialization and specialists are ready to help with any type of loan, from an express loan based on one document to a mortgage.

The broker's website has an interesting scoring test that determines the credit rating of a potential borrower with detailed explanations. The company also provides consulting services to bank debtors, assumes the authority of the borrower’s representative in communicating with collectors and the SB of the bank, even in court, if necessary. A kind of anti-collection agency and broker rolled into one. The remuneration is paid by the client only after receiving the loan.

MSK Credit

MSK Credit is a brokerage company that provides consulting services, selection of profitable loan programs, assistance in preparing documents and submitting them to the bank. Individuals and legal entities who want to get a consumer loan, a mortgage, a cash loan without certificates, a secured loan, a car loan, or refinancing can get help from MSK Credit.

A distinctive feature of this broker is assistance in obtaining money on loan to borrowers with damaged credit cards, the unemployed, and people in difficult situations. The site has an interesting online questionnaire, by filling out which you can find out the likelihood of loan approval for each client.

Capital lending center

The Capital Lending Center is a relatively new broker on the market, offering its clients assistance in obtaining a loan in the amount of 100 thousand to 50 million rubles. SCS provides assistance in obtaining cash loans, loans for business development, secured loans, and mortgages. Cooperates with large regional banks and highly specialized Moscow financial institutions (Alfa-Bank, BZhF, Uralsib, ITB, RosEvroBank, etc.)

The broker's assistance consists of selecting several programs that meet the client's conditions and his CI, personal data; correct filling of documents, consultations at different stages, transfer of documents to the bank.

The broker's remuneration varies depending on the complexity of the task and starts from 1.5% of the loan amount, but not less than 10,000 rubles.

Proffinance

Proffinance (proffinans) is a financial group that provides consulting services and assistance in obtaining loans of various types:

1. Commercial, residential mortgage
2. Business loans
3. Tender lending, bank guarantees without collateral
4. Consumer loans, car loans, pawn loans, collateral loans, etc.

In addition, Proffinance provides assistance with leasing, factoring, repurchase of distressed assets, real estate services, appraisal and insurance, etc.

Premium Finance

Premium Finance, one of the oldest players in the intermediary services market, offers potential borrowers assistance in obtaining the following loan products:

• Large consumer loan up to 3 million rubles.
• Loan for small businesses without collateral and loans for medium-large businesses with collateral
• Overdraft, factoring

The list is not long, but it is sufficient to meet the needs of its borrowers. The company does not work with clients who have a bad credit history, debt-ridden borrowers, or the unemployed. The specifics of the work include the complete management of the transaction, from selecting the optimal loan to the borrower receiving cash. Payment upon approval of the application.

Credit Promotion Service (CCS)

SSK is the largest federal broker in Russia with offices in Moscow, Yekaterinburg, Chelyabinsk, Novosibirsk, Omsk and Krasnoyarsk. The broker provides not only consulting and intermediary services, but also accompanies the entire process of applying for a loan (selection of options, recommendations for improving the status of the borrower, contacting the bank, filling out papers, collecting documents, transferring them to the bank).

Help through the SSC can be obtained if you need to apply for a consumer loan, express loan or cash loan, or a card with a limit. The company also provides credit history checking services.

Credit center

Forex brokers are companies specializing in providing intermediary services in the international foreign exchange market. Individuals cannot directly participate in trading on the currency exchange, so transactions are performed through licensed Forex brokers or dealing centers (DCs), whose activities are regulated by government agencies and public organizations.

Brokerage companies operate according to two main models:

"Kitchen"

These are dealing centers or market makers who make money mainly not from spreads, but from client deposits. “Kitchens” do not transfer traders’ money to the interbank foreign exchange market, but leave it within the company. It must be said that responsible brokers never act this way. The “kitchens” do not benefit from the trader’s profitable trading and do their best to eliminate successful investors from the company. “Unsportsmanlike” methods are used, such as deteriorating order execution, substituting market quotes, delaying the withdrawal of funds or refusing payment.

Brokers and banks

Brokers differ from dealing centers in that transactions are immediately routed through liquidity providers to the interbank market, which includes investment funds, banks and large brokers. A trader benefits from cooperation with a broker because:

• orders are executed without requotes and at high speed;
• when slipping, losses and profits are equally possible;
• the trader gets the best price with a minimum spread;
• complete anonymity during trading operations is guaranteed;
• the trader has the opportunity to monitor his own and other people’s orders in the order book.

The broker is interested in the successful play of traders, since he acts only as an intermediary between the investor and the liquidity provider. Profit does not become a loss for the broker, so the money earned is withdrawn without delay. Moreover, the broker’s earnings depend on the number of trader’s transactions, regardless of the success of trading operations. Brokerage companies with a banking license are especially reliable, although they are more demanding in terms of the minimum deposit size and withdrawal methods.

Main functions of a Forex broker

The main function of a Forex broker is to help the trader obtain maximum profit.

Other important broker functions:

• Concluding Forex transactions as a commission agent or client's attorney.
• Providing the client with comprehensive information on transactions, which is especially important regarding risks. Brokers are well versed in the “undercurrents” in the foreign exchange market and are able to identify hidden risks that are invisible to the average investor.
• Maintaining client financial documentation in accordance with current legislation and the requirements of the Federal Service for Financial Markets.
• Bringing information to the client about transactions with securities, as required by current legislation.
• At the client's direction, the broker evaluates the prospects or futility of certain transactions.

The listed useful functions of Forex brokers attract investors to cooperate with them.

How to choose a reliable broker

To avoid a situation where the dealing center refuses to pay you the money you have earned, you must carefully choose a broker. Our rating of brokerage companies will help you determine the right broker.

When choosing a broker, consider the following factors:

• Date of foundation of the company, history and duration of its successful work on Forex.
• Place of registration of the company, address of its main office and branches.
• Regulator of the company.
• Opportunity to communicate with the administration.
• Availability and level of licenses.
• Trading conditions.

Brokerage companies may have different trading conditions, but, in any case, the main criterion when choosing should be the speed of order execution and the minimum spread. To ensure these conditions, brokers use advanced technologies to provide services.

The trading “philosophy” of a brokerage company is always individual, and this allows the trader to choose an effective intermediary. When planning to trade positionally (holding trades open for a long time), you can choose any reputable broker with a large turnover and active traders.

Most new traders prefer to trade at least one trade every day. In this case, you need to pay attention to the commissions that the broker is entitled to - with a large commission, cooperation may be unprofitable. Brokers with fixed spreads often add inflated percentages to quotes, which also makes the trader's trading ineffective and sometimes unprofitable.

When to choose an ECN broker

An attractive feature of the ECN broker is real interbank quotes without markups. The broker typically charges $15-25 per 1 million trade turnover, with commissions decreasing as turnover increases. An ECN broker is not interested in traders' losses, so cooperation with him is obviously more profitable than with a dealing center. However, a professional ECN broker has real market conditions with spread widening, slippage, etc.:

• When breaking news comes out on the market.
• During the opening of the trading week on Monday night.
• When the market closes on Friday.

Professional traders with serious trading turnover choose it as one of the best on the market. With this broker you can trade quickly, with low spreads and minimal costs. Beginning traders may well start trading at a dealing center in order to learn how to make money under softer conditions.

Criteria for choosing the best Forex broker

When choosing a Forex broker, you need to consider the following significant factors:

1. Company age

Stable companies have held positions in the foreign exchange market for quite a long time. Such brokers are trustworthy, they always have followers and a good reputation.

2. Location and number of branches

You should pay attention to whether the company has opened a single office in Cyprus or whether its branches operate in different parts of the world.

3. Financial turnover and number of clients

The more active clients a company has, the more trust it enjoys. Reliable brokers have high incomes and a stable position in the market.

4. Who is the brokerage company regulated by?

Brokerage companies are usually regulated by NFA (USA), FSA (UK), KROUFR (Russia), etc. The trader must have confidence that he can turn to external independent authorities (court, arbitration).

5. Reputation of the brokerage company

This criterion is difficult to evaluate. You can judge a broker's reputation by reviews from traders. A good indicator is a large number of reviews, both positive and negative. The presence of exclusively positive reviews should alert you, but their complete absence indicates that no one is interested in the company.

6. Client Agreement

First of all, read the contract carefully. The text must clearly state the terms of cooperation between the broker and the trader, the procedure for executing and accepting the results of transactions. Familiarize yourself with the regulations governing transactions in the foreign exchange market. Sometimes brokers specify in the contract conditions for canceling the results of the transaction, upon execution of which the profit may not be paid at all.

7. Broker's trading conditions

In trading conditions, you should pay attention to the following points:

• Ability to select currency pairs and trading instruments.
• Commission terms: spread (floating or fixed), turnover commission. You should be wary of the spread, the value of which is significantly lower than that of competitors.
• You must understand from what source the broker receives information about currency quotes. Does the broker generate quotes independently, take them on the interbank market, and who supplies liquidity?
• Consider the possibility of “slippage” when closing trades. How is this problem solved?
• You must have a guarantee that your orders will be executed in a timely manner.
• The adjustment of open positions when depositing/withdrawing funds must be taken into account.
• With a Forex broker, pay attention to the user-friendly terminal interface, available technical support, constant connection with the server, secure exchange of information, and the ability to work on a demo account.

Forex broker ratings and traders' reviews

The popularity of Forex is increasing every year, and along with this, more and more intermediaries are appearing offering their services. Russian and foreign brokerage companies declare specific trading conditions. A rating of Forex brokers was created for beginners and professional traders. The purpose of the rating is to analyze and select the best brokers, dealing centers and trading platforms for trading in Russia, Ukraine, Europe, Asia or the USA. Every day, based on the results of voting by site visitors, an analysis of the popularity of brokers is compiled.

BBF is an independent rating of Forex brokers and dealing centers (DCs). Our rating contains only reliable data. Visitors to the rating can cast their vote for the best broker, and they can vote only once a day, which allows them to receive objective assessments to form the top. By clicking on the name of the broker, you can learn more about trading conditions, platforms, methods of depositing and withdrawing funds, etc. Anyone who visits the rating can easily leave a review about the broker. We also publish reviews from professionals about the work of Forex brokers. You will be able to get acquainted with detailed information about the company you are interested in.

For beginners, we recommend choosing brokers from the top of the rating, as there are companies that have been working successfully in the foreign exchange market for a long time. These Forex brokers value their reputation, are attentive to each trader, and you do not risk getting into the “kitchen”. Using the filter, you can sort brokers by spread size, trading platforms and payment systems used, as well as by minimum position size and deposit size.

Convenient sorting of brokers

Traders' approach to choosing a broker may be different. Some people focus on the size of the spread, others look for a broker for scalping or choose based on the principle of calculating swaps. Beginner traders pay attention to the size of the minimum deposit, while professionals are looking for favorable trading conditions, ECN accounts, the convenience of the trading platform and the ability to work with many financial instruments. To simplify your search, we have made a list of brokers sorted by category. In each category there are TOP brokers recommended for Forex trading.

Review and comparison of brokers

In addition to the main rating, you can read a brief overview of each broker. You will receive information about the company's branches and representative offices with addresses and telephone numbers, year of foundation, regulator, trading platforms and payment systems, account currency and method of contacting support. The convenience of this service is that traders do not need to go to each broker’s website to find the information they need. After comparing the advantages of brokers, you can go to the company’s official website using the link to learn more about trading conditions. Using our rating, you can quickly choose a broker that best suits your needs and trading strategy. Brokers who have not passed the test for honesty and integrity in trading are posted in the “” section.

Risks and liability

The site administration is not responsible for inaccuracies in these companies and for the content of reviews. We are also not responsible for your possible profits or losses. The information is for informational purposes only, and you can find out more details directly on the website of the broker you have chosen. A novice trader must be aware that trading on the currency exchange involves all his money. Even an ideal broker does not guarantee that unforeseen situations will arise when trading online.