The 9 Best Trading Platforms in Ireland (October 2024)

A list of the Top Trading Platforms in Ireland for October 2024:

1. Pepperstone
2. eToro
3. AvaTrade
4. Lightyear
5. Plus500
6. IG
7. XTB
8. Saxo
9. Trade Republic

Comparison Chart of the Best Trading Platforms in Ireland for October 2024

Description of the Best Trading Platforms in Ireland for October 2024

Pepperstone is recognized as one of the top trading platforms for traders in Ireland.

Pepperstone is regulated by multiple top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).

This strong regulatory framework ensures a secure trading environment, providing investor protection up to €20,000 for EU residents.

Pepperstone supports a variety of trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView. These platforms are renowned for their advanced charting tools, fast execution speeds, and support for automated trading, catering to both novice and experienced traders.

For instance, MT4 is favored for its user-friendly interface and comprehensive suite of tools for forex trading, while TradingView offers robust technical analysis capabilities.

Pepperstone offers highly competitive spreads, especially with their Razor account. Spreads can be as low as 0.0 pips for major currency pairs like EUR/USD, and the commission is $3.50 per one lot per side, making it an attractive option for cost-conscious traders.

Additionally, there are no deposit fees and minimal withdrawal fees, which further enhances its appeal.

Pepperstone provides access to over 1,200 tradable instruments, including forex, shares, indices, commodities, ETFs, and cryptocurrencies. This wide selection allows traders to diversify their portfolios and explore various markets from a single platform.

Pepperstone is praised for its excellent customer service, which includes 24/5 support via live chat, email, and phone. The account opening process is straightforward and fully digital, requiring no minimum deposit for standard accounts, making it accessible for traders with different budget sizes.

For traders in Ireland, Pepperstone offers spread betting, which is a tax-efficient way to speculate on the price movements of various financial instruments without owning them. This feature is particularly beneficial as profits from spread betting are not subject to capital gains tax in Ireland.

eToro is best known for being a social trading specialist. This Israeli fintech startup has a lot to offer beginner traders.

The simple account setup and great training available with eToro make this a popular choice for those looking for a simple trading platform offering a wide range of trading instruments without too many complicated tools.

eToro has relatively low fees, and the minimum deposit to start is just $100. This platform uses USD as the base currency, so all deposits and withdrawals need to be made in USD, and there is a $5 withdrawal fee.

eToro offers traders the opportunity to not only copy the trading actions of successful traders but also the ability to completely copy their portfolio.

To find out more, read our eToro review.

AvaTrade is a CFD Regulated broker with +1,000 financial instruments and multiple trading platforms. It has been operating since 2006.

It offers a 20% welcome bonus up to $10,000, according to regulation and a free 21-day demo account with $100,000.

Instruments include:

• Metals
• Commodities
• Stocks
• FX Options
• Oil
• ETFs
• Options
• Crypto currencies
• CFDs
• Indexes
• Shares
• Spread betting
• Indices
• Forex
• Bonds

AVATrade EU Ltd is regulated by the Central Bank of Ireland. (No.C53877) Ava Trade Markets Ltd. is regulated by the B.V.I Financial Services Commission. It is also highly regulated in Australia, South Africa, Japan, Middle East, Cyprus and Israel

You can not trade with AvaTrade in the US, North Korea, New Zealand, Iran or Belgium.

Mínimum deposit of $100, no withdraw limit and no fees.

Lightyear was founded by ex-Wise duo Martin Sokk and Mihkel Aamer to bring a borderless mindset to the European investment world.

The rest of the Lightyear team has been behind many financial products you know and love, like Revolut, Robinhood.

Richard Branson, investor in Lightyear and founder of Virgin Group says: 

“For too long, financial markets have been overly complex with high barriers to entry and confusing jargon. Martin, Mihkel and the Lightyear team are lifting the lid on the world of investing – making it more transparent whilst empowering people through education – to choose the products which are right for them.”

Key Features:

• Over 3500 international stocks and ETFs
• Simple and intuitive platform
• Lightyear has no account or custody fees
• Free to deposit by bank transfer.
• Investing in ETFs is free of Lightyear execution fees.
• Multi-currency account
• You can hold balances in sterling, euros and US dollars at the same time
• By keeping your funds in your preferred currency, you can avoid the need to convert them back and forth each time you want to purchase a foreign instrument, which saves you money.
• Web platform
• Earning calls

Plus500 instruments are available for trading exclusively via CFDs and the service offered on the platform is CFD-based.

Plus500 was founded in 2008, and is considered to be a high-trust broker because not only is it regulated by top-tier bodies like the FCA in the UK and ASIC in Australia, but it is also listed on the London Stock Exchange.

Plus500 offers CFDs, 71 forex pairs and stocks. You can trade using its proprietary platform, which is available as a desktop download, a web trader and a useful, well-designed and streamlined mobile app.

Deposits and withdrawals are fast and free, and you can use a bank transfer, eWallets, and credit or debit cards to fund your account.

The minimum deposit is quite high, however, at £100.

The trading fees are about average, so there is not too much cost involved with making trades or maintaining an account at Plus500.

Plus500 does not offer access to platforms like MetaTrader, but it does have a proprietary platform called Web Trader that is simple and easy to use with a range of charting options and trading tools.

However, for those who like a lot of research in their trading apps, Web Trader and Plus500 as a whole does not provide that much detailed information.

For beginner traders, Plus500 does have a demo account where you can practice trading without risking your own capital, and the Trading Academy has a reasonable amount of educational material in the form of videos, eBooks and articles.

There is also a Traders Guide which has some further learning resources.

IG invented spread betting in 1974 and today is the world’s leading online trading provider with more traders trusting them with their money than anyone else

IG is authorised and regulated by the FCA and provides traders access to over 18,000 markets. IG offers more 24-hour indices than any other provider, and extended hours on over 70 key US stocks 

For those who prefer to own the underlying asset, IG offers access to over 13,000 global shares and ETFs, or a wealth portfolio managed by one of their experts. 

Benefits:

• Advanced platform and charting – L2 dealer, ProRealTime and MT4
• Demo account
• Extended trading hours
• Extensive range of products
• Daily expert analysis & educational resources
• Round-the-clock customer service
• Negative balance protection for retail clients

Based on revenue (published financial statements, October 2022). 24/7 excludes the hours from 10 pm Friday to 8 am Saturday (UK time), and 20 minutes just before the weekday market opens on Sunday night. 

XTB has a powerful, fast trading platform called xStation, and with a standard account there is no commission to pay but trading fees are built into the spread.

The ‘heatmap’ that shows market sentiment is a unique tool, and the education is top-notch.

XTB is great for beginners who would like the opportunity to trade different assets, from forex to cryptocurrency, without high account fees.

The demo account allows users to place trades and test out new strategies, while a whole range of learning resources are available to suit the newer investor.

These include the Trading Academy, a series of educational videos, tutorials and articles.

For the savvy trader, the Pro account offers tight spreads, with a very low $4 per lot commission.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Established in 1992, Saxo has a distinguished track record and is regulated by the Danish FSA and the FCA.

Stocks, bonds, ETFs, CFDs, cryptocurrencies, forex, options and futures can all be traded, giving Saxo the edge on other trading platforms when it comes to trading instruments.

Saxo offers excellent customer service, but some of the transactional fees are higher than other platforms, so it could be an issue for the more casual trader.

For the more experienced or professional trader, however, the seamless, intuitive interface combined with detailed research, analysis and tools make the proprietary platform perfect.

Available on the web and as an app for iOS and Android, both devices can be customized to your needs, including setting up notifications for the information that matters most to you.

As this platform is not geared towards the beginner or casual investor, the education selection is limited but there are some videos and webinars available.

Trade Republic is a mobile-first brokerage platform, known for its streamlined and user-friendly interface.

The primary focus of Trade Republic is its mobile app, designed for both iOS and Android devices. This app is the central hub for all trading activities, optimized for ease of use and accessibility.

The interface is minimalist and intuitive, making it easy for users to navigate, even for those new to trading. This simplicity is one of its most praised features, allowing quick access to trading functions, portfolio overview, and market data.

Although the platform is minimalist, it includes essential trading features such as real-time quotes, basic order types (like market and limit orders), and a straightforward process for buying and selling stocks, ETFs, and derivatives.

The app provides basic charting tools and historical price data for securities. However, it may not offer the advanced technical analysis tools found in more comprehensive trading platforms.

Trade Republic emphasizes security, with features like two-factor authentication to protect users' accounts and transactions.

The platform allows trading in a range of investment products including stocks, ETFs, and derivatives, suitable for different investment strategies and goals.

Trade Republic may offer limited educational resources compared to larger platforms. This might be a consideration for beginners who require more comprehensive learning materials.

What Is a Trading Platform?

A trading platform is a place where users can buy, sell and trade assets like stocks, forex, indices, futures, CFDs, ETFs and cryptocurrencies.

The platform connects buyers and sellers and makes money on trades by charging fees – these might be commission-based or built into the spread, and sometimes there are charges for withdrawals, deposits or monthly accounts.

Choosing the right trading platform needs consideration. The platform you choose must have the trading instruments you want to use, and you need to consider how much it will cost you to make trades.

The safety of your money is also important – the trading platform needs to be regulated by a recognized financial institution to give you confidence.

What to Consider When Choosing a Trading Platform in Ireland

Ireland has long been a well-respected financial hub in the world. The Irish Stock Exchange was established in 1793, and in 2018 it merged with Euronext to become the sixth-largest stock exchange group by market capitalization in the world.

This makes it a great market for those who want to trade on global exchanges.

The Central Bank of Ireland (CBI) prohibits the marketing, distribution or sale of binary options and restricts the marketing, distribution and sale of CFDs, so it is worth bearing this in mind for your portfolio and trading strategies.

If you are trading stocks, the CBI operates on a First In, First Out (FIFO) basis – your broker will be able to provide more information about this.

Given that Ireland uses the Euro, most trading platforms will not require any currency conversions as they use EUR as well as USD and GBP as the base currency.

Regulatory Status

The regulatory status of a trading platform can be used as a guide to the safety of your money. Trading platforms that are regulated have to meet certain standards, and some regulatory bodies are considered safer than others.

In Ireland, the main regulatory body is the CBI, but your platform does not have to be regulated by the CBI for trading in Ireland.

There are other bodies, like the Financial Conduct Authority (FCA) in the UK, and the Australian Commitments and Investments Commission (ASIC) in Australia, that are considered highly trustworthy.

Level of Assumed Knowledge

Not all platforms are designed with a beginner in mind. Some assume that traders will have more than a rudimentary knowledge of trading, and this can be confusing for a beginner and might lead to poor strategy and losses.

Others offer a high level of education and research that makes it simple for a brand new trader to develop new skills and learn how the process works.

If you are an experienced trader, you might prefer a trading platform that is designed for advanced strategies. If you are new to the world of trading, it may be better to choose a platform with plenty of educational resources.

Free Demo Accounts

A demo account is an excellent resource for those new to trading. It is also a useful tool for experienced traders because you can use it to simulate trades and try out new strategies.

Level of Customer Support

Customer support is usually provided in one of three ways – through phone, email or live chat.

Sometimes this support is available 24/7, while other trading platforms might only offer help during normal trading hours.

Educational Materials

The education provided by the platform will usually include tutorials on how to use the trading tools, research and other facilities provided. However, it is important to have additional educational resources to hand so that you can learn more, especially if you are new to trading.

Education can be as simple as articles and webinars, but some platforms have how-to guides, ebooks and even complete training courses designed for beginner, intermediate and advanced trading.

Nudges and Alerts

Making quick decisions is an important part of successful trading. Knowing about price movements and keeping up with the market is easier if you receive notifications.

Most platforms offer web, desktop and mobile trading, and through notifications, you can react quickly, whenever and wherever you are.

Compatibility With Your Investment Strategy

Every trader has a different strategy, and you want to be sure that the platform you use will support the way you want to trade.

Whether using copy trading, algorithmic trading, scalping, hedging, or any other strategy, you need to know that the platform can deliver.

Also consider the number of trading instruments that the platform provides. For many traders, the ability to diversify their portfolio can offer more investment opportunities, so they may want a trading platform that offers more than just stocks, forex or commodities.

User Interface/Ease of Use

Trading platforms can be complicated. The interface on the platform you choose should be simple to navigate, and easily customizable so you can view the charts and other tools in the way that suits you best.

Most platforms offer mobile versions designed for iOS and Android, and this should provide a seamless user experience whether you are trading on a desktop computer, tablet or your smartphone.

Security

Security of the trading platform is not just about regulation, but also about how your money is kept. Trading platforms that have been around for a long time are considered to be safer than newcomers, and it is a good sign if the company is publicly traded.

Security also comes from how you can access the platform. Is there two-factor authentication? Do you need ID to sign up for an account?

Security is important. It is your money that is on the line, after all.

Frequently Asked Questions

Final Thoughts

There are many trading platforms available that allow accounts from Irish investors – this article offers in no way an exhaustive list.

Trading is risky. As with anything that involves your financial health, you must take the time to know and understand the trading platforms you are interested in working with, whether you are a casual trader or a professional investor.

WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.