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

IG

Go To IG
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

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

Go To IG
2

Interactive Brokers

Go To Interactive Brokers
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

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

Go To Interactive Brokers
3

Firstrade

Go To Firstrade
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

Go To Firstrade
4

Zacks Trade

Go To Zacks Trade
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

Go To Zacks Trade

Here is a summary of why we recommend these brokers:

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.
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.
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, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB	4.4 / 5	4.4 / 5
✔	$0	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA	4.3 / 5	4.3 / 5
✔	$0	SEC, FINRA	3 / 5	4 / 5
✔	$2500	FINRA	2.9 / 5	3.9 / 5

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
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

The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
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

Cons

While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors

Visit IG

IG Review

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
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

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.
IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.

Cons

TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
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.
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.

Visit Interactive Brokers

Interactive Brokers 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

Mobile app with advanced features and analysis
Multiple customer support options
Regulated by SEC and FINRA

Cons

No 24/7 customer support
Some withdrawal fees
No copy trading

Visit Firstrade

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

Regulated by FINRA with access to the Securities Investor Protection Corporation
Demo account
Comprehensive research and data

Cons

Shortcomings regarding platform loading times and technical glitches
No MT4 or MT5 platform integration
High minimum requirement of $2,500

Visit Zacks Trade

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

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com