Best Cheque Brokers 2025
Discover the best brokers with Cheque deposits and withdrawals following our rigorous hands-on tests.
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1NinjaTrader is a US-based brokerage regulated for trading futures. It offers three different pricing plans for varied needs and budgets, along with extremely low margins on popular contracts. The company's renowned charting software and trading platform provides extensive customization options and excellent technical analysis features.
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2Interactive Brokers (IBKR) is a top brokerage firm offering access to 150 markets in 33 countries and a range of investment services. With 40 years in the field, this company listed on Nasdaq strictly follows the rules set by authorities such as the SEC, FCA, CIRO, and SFC. It's recognized as one of the most reliable brokers for global trading.
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3Spreadex is a broker regulated by the FCA which provides opportunities for spread betting on more than 10,000 CFD instruments. This includes 60 forex pairs. Traders can also take short-term positions on sports events. With over 20 years of experience, the brand has earned several awards.
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4Qtrade is a respected Canadian financial company offering various investment accounts featuring $8.75 and $6.95 stocks, mutual fund trades, and more than 100 commission-free ETFs. The company is extensively recognized and chosen by many investors in Canada to grow their savings or retirement funds. Qtrade is also fully authorized by the Canadian Investment Regulatory Organization (CIRO).
Compare Brokers
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $0 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Stocks, Options, Commodities, Futures, Crypto | NinjaTrader Desktop, Web & Mobile, eSignal | USD | NinjaScript or via Automated Trading Interface | ✗ | ✗ | |
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✓ | ✓ | $0 | $100 | 1:50 | ✗ | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF | Capitalise.ai & TWS API | ✓ | ✗ | |
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✓ | ✗ | £0 | £0.01 | 1:30 | ✗ | FCA | Forex, CFDs, Indices, Commodities, Stocks, Crypto, Bonds, Interest Rates, ETFs, Options, Spread Betting | Spreadex Platform, TradingView | USD, EUR, GBP, CAD, CHF | ✗ | ✗ | ✗ | |
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✓ | ✓ | $0 | Variable | ✗ | ✗ | CIRO | Stocks, ETFs, Bonds, Mutual Funds, Options, GICs | TradingCentral | USD, CAD | ✗ | ✗ | ✗ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best Cheque Brokers 2025 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✗ | ✗ | |
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✗ | ✗ | ✗ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Cheque Brokers 2025.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
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iOS & Android | ✗ | ||
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iOS & Android | ✓ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Cheque Brokers 2025 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $0 | $100 | ✓ | ✗ | ||
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✗ | £0 | £0.01 | ✗ | ✗ | ||
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✓ | $0 | Variable | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Cheque Brokers 2025 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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NinjaScript or via Automated Trading Interface | ✗ | ✗ | ✗ | ✗ | 1:50 | ✓ | ✗ |
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Capitalise.ai & TWS API | ✗ | ✗ | ✓ | ✗ | 1:50 | ✓ | ✓ |
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✗ | ✗ | ✗ | ✗ | ✓ | 1:30 | ✓ | ✓ |
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✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Cheque Brokers 2025.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | USD: 4.8%, GBP: 4.7% | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✗ |
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✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Cheque Brokers 2025 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Cheque Brokers 2025.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | $25 | ✗ | 1.3 | Floating | |
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✗ | $0 | 0.003 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
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✗ | £0 | 0.15% | 0.6 | 1 - 140 pips | |
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✗ | ✗ | ✗ | ✗ | ✗ | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best Cheque Brokers 2025 are in terms of number of clients.
| Broker | Popularity |
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| Interactive Brokers |
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| NinjaTrader |
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| Spreadex |
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Why Trade With NinjaTrader?
NinjaTrader consistently satisfies active futures traders with its low-cost service and high-quality analysis tools. It offers superior charting features, including hundreds of indicators and over 10 chart types.
Pros
- Low costs, with $50 trading margins and commissions starting at $.09 per micro contract.
- Traders can access a free platform and trade simulation capabilities with the unlimited demo.
- You can access thousands of applications and add-ons from developers worldwide for trading.
Cons
- Some payment methods require a withdrawal fee.
- You need to register with partner brokers to trade in securities other than forex and futures.
- The advanced trading tools require an additional fee.
Why Trade With Interactive Brokers?
Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.
Pros
- There's a large selection of free or paid research subscriptions available to all traders. If you subscribe to Toggle AI, you will also receive commission refunds from IBKR.
- IBKR is a highly regarded brokerage, regulated by prime authorities. This ensures the safety and reliability of your trading account.
- IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
Cons
- IBKR offers many research tools. However, the tools are not uniformly distributed across trading platforms and the web-based 'Account Management' page, causing confusion for the users.
- TWS's platform may be difficult for beginners to grasp because of its complexity. Plus500's web platform, on the other hand, is more appropriate for those new to trading.
- Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.
Why Trade With Spreadex?
Spreadex is fitting for UK traders intrigued by spread betting on financial markets and placing conventional sports bets. Charges are minimal for short trades and gains from spread bets are tax-exempt. There's an effective proprietary charting platform available, and no deposit is needed to begin.
Pros
- A unique brokerage that offers trading opportunities in lower market capitalization stocks listed on the AIM.
- The platform offers numerous trading signals, analytical tools, and risk management features, like guaranteed stops.
- Spreadex allows US traders to earn tax-free earnings from spread betting.
Cons
- The proprietary terminal doesn't have the extensive charting features found in platforms such as MT4 and MT5.
- Third-party digital wallets are not accepted for transactions.
- The platform does not support advanced advisors or other trading software.
Why Trade With Qtrade?
Qtrade is suitable for Canadian traders seeking a trustworthy, regulated broker for long-term and leveraged trading.
Pros
- One of the top trading platforms available in Canada.
- 100+ commission-free ETFs
- Simplified login process for traders or members
Cons
- Transfer out fee
- Equity commissions of $8.75 can accumulate quickly.
- CAD to USD exchange charge
Filters
Understanding Cheque Payments in Trading
Cheque payments, also known as bills of exchange, are documents that let you tell a bank to withdraw money from your account. While they started as handwritten notes, cheques have become more secure over time. Let’s explore how traders can use cheques with online brokers, along with the benefits and downsides.
Choosing the Best Brokers for Cheque Payments
To find the best online brokers that accept cheque payments, we did the following:
– Looked through our database of 500 online platforms to see which accept cheques.
– Made sure they allow both cheque deposits and withdrawals.
– Ranked them based on their performance and tests.
Cheque Payments: A Brief Overview
Cheques have been a reliable way to send and receive money globally for many years, but their usage is declining as digital payment methods become more popular. Despite this, some trading platforms still accept cheques for transactions.
Benefits of Using Cheques for Trading
Electronic Processing
Many banks now use cheque imaging, allowing you to handle deposits and withdrawals through your mobile banking app. This makes using cheques more convenient and quicker.
Currency Support
Cheques can be made out in most major currencies, which means traders from different countries can use them. Their long history also makes them familiar and easy to understand.
Drawbacks of Using Cheques for Trading
The Future of Cheques
Cheques are slower and often less secure compared to modern options like Skrill or Neteller. Many countries have plans to stop using them entirely, such as the UK Payment Council, which plans to phase out cheques eventually.
Processing Times
Traditional cheque payments can take up to 7 working days to clear, unlike digital methods that process almost instantly, like PayPal. This delay can be a problem for traders who want fast access to their funds.
Limited Availability
Very few trading platforms accept cheques anymore, with only a select few like SpreadEx and Interactive Brokers still offering this option.
Speed of Cheque Transactions
Although traditional cheques can take several days to clear, using a bank’s mobile app can speed up the process to the next working day. Be aware that digital cheque deposits might have limits and some brokers might charge a fee for instant cheque cashing.
Safety with Cheque Payments
Electronic payments offer more security compared to cheques. If you fill out a cheque incorrectly, banks typically aren’t responsible for fixing the issue. To avoid problems, keep a record of the cheque, fill out all spaces, and make sure the payee’s name is correct.
How to Use Cheques for Deposits
To deposit funds using a cheque, find the cheque payment option in your trading account. Brokers like Interactive Brokers allow cheque deposits from places like Hong Kong, the USA, and Canada. Check for any payment limits, and if you run into issues, contact customer support for assistance.
Fees Associated with Cheque Payments
It’s generally free to use cheques, but some brokers may charge fees if they incur business costs. You might also face charges if you need to stop a cheque or if a cheque bounces.
Are Cheque Payments Effective for Trading?
While cheque payments have been around for a long time and have gotten faster through digital processing, they aren’t widely used by online trading brokers anymore. There are faster and more secure payment options like PayPal, Skrill, and Neteller that traders often prefer.
FAQ
How Do I Know If My Cheque Deposit Has Been Received?
Banks and brokers generally follow specific processing times. If your cheque hasn’t been processed, you can show proof of the payment or cancel it and choose another payment method.
Why Aren’t Cheques Accepted at Some Brokers?
Electronic transfers are usually faster and safer, which lowers fees for both businesses and traders.
How Long Do Cheque Payments Take at Trading Brokers?
Once you send a cheque, it might take up to three working days to leave your account and up to seven days to clear with your trading broker.