Best Brokers For Bonds

Written By

James Barra

Edited By

Jemma Grist

Fact Checked By

William Berg

Updated

Jul 15, 2024

Investors trade bonds for profit by capitalizing on changes in government or corporate bond values. This guide features our pick of the best bond trading brokers, selected after thorough review, comparison, and ranking.

Best Brokers For Bonds 2024

Based on our assessment, these are the 4 best bond trading accounts:

Click a broker for details

1

Interactive Brokers

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Interactive Brokers Review

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 4.5 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3 / 5

Research 4.4 / 5

Education 4.3 / 5

iOS App 4.3 / 5

Android App 4.5 / 5

Minimum Deposit $0

Minimum Trade $100

Leverage 1:50

Regulator FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM

Instruments Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies

Platforms Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

Payment Methods Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

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2

IG

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IG Review

Forex trading involves risk. Losses can exceed deposits.

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.5 / 5

Fees & Costs 3.5 / 5

Platforms & Tools 4.8 / 5

Customer Support 4.5 / 5

Research 4.9 / 5

Education 5 / 5

iOS App 4.6 / 5

Android App 4 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:30 (Retail), 1:250 (Pro)

Regulator FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM

Instruments CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting

Platforms Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral

Payment Methods PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

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3

Firstrade

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Firstrade Review

New Customer Bonus Offer Deposit Bonus Up To $4000

Minimum Deposit $0

Minimum Trade $1

Leverage

Regulator SEC, FINRA

Instruments Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed

Platforms Own

Payment Methods ACH Transfer, Wire Transfer, Cheque, Automated Customer Account Transfer Service

Account Currencies USD

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4

Zacks Trade

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Zacks Trade Review

Minimum Deposit $2500

Minimum Trade $3

Leverage

Regulator FINRA

Instruments Stocks, ETFs, Cryptos, Options, Bonds

Platforms Own

Payment Methods Wire Transfer, ACH Transfer, Cheque

Account Currencies USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

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Here is a short overview of each broker's pros and cons

Interactive Brokers - Interactive Brokers maintains its position as a top-ranking bond broker, with a whopping selection of over 1 million products. Helpfully, the firm provides a comprehensive Bond Search tool to narrow down the wealth of popular treasuries and notes, as well as the lesser-known municipal securities. Commissions are also competitive, starting at 0.2 basis points for the first $1 million of face value.
IG - IG maintains a top 5 position in our ranking for its flexible and diverse bond offering. Traders can invest in global bond futures and ETFs via CFDs, share dealing or spread betting, with competitive spreads from 1 point. Serious traders can also explore correlated interest rate products and enjoy additional investment benefits such as dividend coupons.
Firstrade - Firstrade clients can access an excellent range of fixed-income investments such as treasury bills, municipal bonds and secondary market certificates of deposit (CDs). The broker charges zero commissions on online trades and there is no minimum deposit to get started, making Firstrade a good pick for novice bond investors.
Zacks Trade - Zacks Trade is a top pick for seasoned bond traders. With exclusive access to over 20 top-tier research providers, including Dow Jones and Morningstar, traders can stay ahead of the bond market easily. Commissions start from 0.025% of the face value plus $3 per government bond, and the broker’s proprietary terminal is packed with analysis features for active, high-volume traders.

Best Brokers For Bonds Comparison

Best Brokers For Bonds Comparison
Bonds	Minimum Investment	Regulators	Cost Rating	Overall Rating
✔	$0	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM	4.3 / 5	4.3 / 5
✔	$0	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM	4.4 / 5	4.7 / 5
✔	$0	SEC, FINRA	3 / 5	4 / 5
✔	$2500	FINRA	2.9 / 5	3.9 / 5

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo Account	Yes
Instruments	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Regulator	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
Platforms	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit	$0
Minimum Trade	$100
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.

Cons

Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.

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Interactive Brokers Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer

IG Quick Facts

Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Regulator	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Platforms	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:30 (Retail), 1:250 (Pro)
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award

Cons

Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients

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IG Review

Firstrade

"We recommend Firstrade for beginner investors looking to trade US stocks with no commissions. There is a wealth of free education plus premium-quality research and trading ideas from Morningstar, Briefing.com, Zacks and Benzinga."
William Berg, Reviewer

Firstrade Quick Facts

Bonus Offer	Deposit Bonus Up To $4000
Demo Account	No
Instruments	Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed
Regulator	SEC, FINRA
Platforms	Own
Minimum Deposit	$0
Minimum Trade	$1
Account Currencies	USD

Pros

Accepts US traders
SIPC member
Low OTC fees

Cons

No copy trading
Visa Credit/debit card deposits and withdrawals not accepted
No 24/7 customer support

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Firstrade Review

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."
Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo Account	Yes
Instruments	Stocks, ETFs, Cryptos, Options, Bonds
Regulator	FINRA
Platforms	Own
Minimum Deposit	$2500
Minimum Trade	$3
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

Demo account
Customizable proprietary trading platform and mobile app
20+ account denominations

Cons

Shortcomings regarding platform loading times and technical glitches
Withdrawal fees apply if removing funds more than once per month
No forex, commodities or futures trading

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Zacks Trade Review

Comparing Bond Brokers

To find the best bond brokers, we evaluate firms across several categories:

The Number Of Bonds

Top brokers offer a range of bonds, sometimes thousands, helping investors build diverse portfolios.

Our analysis found that most bond brokers offer access to several types of bonds, including:

Government Bonds – Generally deemed the safest, these are debt securities issued by governments to support public spending and obligations. Importantly, brokers may use different terms to describe government bonds. US bonds, for example, are often known as treasuries, while UK bonds are frequently called gilts, and debt instruments issued by the German government are known as bunds.
Corporate Bonds – Riskier than government bonds, these debt instruments are used by companies to raise funds for various purposes, such as expansion. The quality and risk of corporate bonds vary depending on the creditworthiness of the firm. Investment-grade corporate bonds are usually safer but often come with lower yields, whilst junk bonds are riskier but tend to offer higher returns.

Table of bonds at Interactive Investor — Bonds at Interactive Investor

Also important is the vehicle you can use to speculate on bond values. For short-term speculation, contracts for difference (CFDs) and spread betting are popular, allowing users to speculate on prices without owning the underlying bond. For longer-term investing, you can buy bonds directly or deal in exchange-traded funds (ETFs).

Interactive Investor offers a huge selection of products with over 10,000 bonds and gilts.

The Fees To Trade Bonds

The best bond brokers offer low fees with no hidden charges.

Our testing shows that many firms charge a transaction fee, known as a commission. Low-cost platforms charge commissions of <1% or <$10. Fees may also be shown as a spread, especially if you trade bond CFDs. Here, sub 1 point is competitive.

Importantly, we look for any volume discounts that can bring costs down. Our team also evaluate non-trading fees, which can take the form of account opening and maintenance fees, deposit and withdrawal charges, plus inactivity penalties.

CMC Markets offers bonds with spreads as low as 1 point. We also rate that you can reduce spreads by up to 40% through the Alpha program.

The Minimum Investment

The top bond brokers offer an accessible minimum deposit, lowering the entry barrier.

Our research shows that many top bond brokers accept new traders with a minimum deposit of <$200. With that said, some firms have no minimum deposit, making them a good option for beginners.

Importantly, we balance a low minimum deposit with the quality of the investment tools and market research. We have found that sometimes it is worth investing more upfront to access higher-quality tools.

OANDA has no minimum deposit and offers European, US and UK bonds with competitive conditions.

The Platforms And Tools

Our top-rated bond brokers offer easy-to-use platforms with excellent market research tools.

When we test bond brokers, we look for user-friendly platforms and apps that allow investors to analyze markets and manage trades. The best software will help you find bonds that align with your financial goals and risk appetite.

Our team also consider the availability of additional resources for bond traders, whether expert commentary on the maturity, yield, and quality of bonds, or tools to help investors calculate potential returns and fees.

AvaTrade offers two sophisticated platforms for bonds with advanced charting software – MT4 and MT5.

The Broker’s Regulatory Status

We only recommend bond brokers that we trust.

Several factors impact the trust rating we assign brokers. The most important of which is whether the brokerage is regulated by a respected financial body. Investing through a tightly regulated bond broker will help protect you from scams and unfair practices.

Among the most respected regulators are the US National Futures Association (NFA), US Commodity Futures Trading Commission (CFTC), UK Financial Conduct Authority (FCA), and Australian Securities & Investments Commission (ASIC).

Our team also factor in the reputation of the bond broker and look for signs of credibility, such as being listed on a stock exchange or part of a banking institution.

IG is a trustworthy bond broker regulated by reputable bodies, including the NFA, CFTC and FCA.

FAQ

What Is A Bond Broker?

A bond broker is an intermediary that provides a platform where you can buy, sell and speculate on bond values.

Our analysis shows that the best bond brokers offer a large number of bonds, a choice of investing vehicles, transparent fees with low commissions, and oversight from a trusted regulator.

Do I Need To Open An Investing Account To Buy Bonds?

To invest in bonds, you generally need to open an account with an online broker.

When you have completed the sign-up requirements and satisfied any minimum deposit requirements, you can purchase or trade bond instruments through the firm’s investing platform or mobile app.

Which Is The Best Bond Broker?

We have compiled a list of our best bond brokers. We considered several factors, including the number and type of bonds available, fees on bond instruments, the minimum investment, plus the quality of the platforms and tools.

Importantly, we also checked the broker’s regulatory credentials and reputation. Only bond brokers we trust make our rankings.

What Types Of Bonds Do Brokers Offer?

The types of bonds available to traders will vary between online brokers. However, top-rated brokers offer a selection of government, corporate, and fixed bonds, plus a choice of investment vehicles, such as CFDs, ETFs, and spread bets.

Article Sources

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