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Risk·77–82% of retail CFD accounts lose money. Trade only with capital you can afford to lose.
Disclosure·Affiliate links. Editorial ranking is independent. How we're paid
Brokerlist2026

Tracked byIndependent review teamUpdated MethodologyEditorial top pick: Tickmill

Bond Brokers, 2026

Independent ranking of bond brokers — covering government, corporate and municipal bonds via direct purchase, ETFs and futures. We compare per-trade commissions, mark-up spreads, verified regulator licences and platform realities. Each profile lists bond universe coverage (Treasuries, gilts, bunds, corporates), minimum order size, the regulated entity that applies in your jurisdiction, and yield-vs-price quoting. We don't reorder when an affiliate pays more — just what brokers themselves disclose, with a clear note when those disclosures are vague.

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I live in , starting with , and I'm , trading .
2brokers tracked this quarter. Pricing copied from broker specification pages; regulators verified weekly.

Broker-published pricing · Regulator checks · Weekly refresh

Trade-cost calculator

EUR/USD · standard lot
1.0standard lots
0.110
20
5100

Total cost per round-turn trade = average spread × $10/pip × lots + round-turn commission. Spreads are broker-published typical figures — your realised execution will vary, especially around news.

At 20 trades a month, you save $20/month ($240/year) by choosing Tickmill over AvaTrade.

Open account at Tickmill →
BrokerSpreadCommissionTotalvs cheapestOpen account
Tickmill$2.00$6.00$8.00cheapest→
AvaTrade$9.00—$9.00+$1.00→

Ranking · 2 brokers · bonds

sorted by editorial score

  1. Editorial top pick

    01Tickmill

    FCACySECFSAFSCA
    Open account at Tickmill →
    Avg spread
    0.20pip
    editorial estimate
    Cost / lot
    $8.00
    incl. $6 commission
    Min deposit
    $100
    Max leverage
    1:1000
    EU/UK retail: 1:30 · Seychelles entity: 1:1000

    Raw account: 0.0 from-spread + $6 round-turn — ECN-style pricing in a commission-based tier · Broker publishes "from" spreads only — realised typical is not disclosed on the accounts page

    Fits ifYou are EU or UK retail and want FCA + CySEC double cover with ECN-style commission pricing
    PlatformsMetaTrader 4, MetaTrader 5

    Founded in 2014 · Verified Jun 1, 2026

    Full Tickmill details →

  2. 02AvaTrade

    ASICFSCACBIBVI
    Open account at AvaTrade →
    Avg spread
    0.90pip
    broker-published typical
    Cost / lot
    $9.00
    no commission
    Min deposit
    $100
    Max leverage
    1:400
    EU/UK/AU retail: 1:30 · FSCA / BVI entities: up to 1:400

    Regulated in 6 jurisdictions · Spread-only pricing at 0.9 pip = ~$9/lot round-turn — wider than ECN/Raw brokers at similar volume

    Fits ifYou are AU or EU retail and want CBI + ASIC double cover with 20 years of operating history
    PlatformsMetaTrader 4, MetaTrader 5, AvaOptions, DupliTrade

    Founded in 2006 · Verified Jun 1, 2026

    Full AvaTrade details →

Tracking bond broker pricing

Bond broker pricing differs from equities — most retail bond trading is over-the-counter, with brokers charging mark-up rather than commission. Mark-ups vary 0.10-0.50% on Treasuries, 0.20-1.00% on corporate and emerging-market bonds. Some brokers (Schwab, Fidelity) publish per-bond pricing; many bundle costs into the displayed price. We capture broker pricing model and document mark-up disclosure.

Bond ETFs often beat direct bond ownership for retail — TER 0.05-0.30% vs 0.20-1.00% mark-up plus bid-ask spread on individual bonds. Each broker profile lists bond universe coverage (US Treasuries, UK gilts, German bunds, EM corporate), minimum order size ($1,000 typical for individual bonds), the regulated entity in your jurisdiction, and supported tax-advantaged accounts.

How we score

Full methodology →

Editorial rating is a weighted score across four categories. The largest weight goes to actual per-lot trading cost, because it is the one metric every retail trader materially feels.

We verify regulator status against the FCA, ASIC, CySEC and other registries. Spread figures are broker-published — copied from each broker's specification page, not live-tracked. We do not run live execution tests, time withdrawals, or open support tickets.

Affiliate relationships do not move positions in this list. When a broker pays us more per lead, that shows in our paid-placement disclosure — not in the ordering.

Cost of trading
35%
Regulation & fund safety
30%
Operating history
20%
Accessibility
15%

Currently tracking 14 brokers across 55 regulators · 2 regulatory actions on file · pricing verified June 1, 2026.

Regulator registries: FCA · ASIC · CySEC · FSCA · SEC EDGAR

Frequent questions

5
Should I buy individual bonds or bond ETFs?

Bond ETFs (TLT, BND, AGG) offer instant diversification and lower bid-ask spreads — TER 0.05-0.30% covers fund costs. Individual bonds give a guaranteed maturity date and known cash flows. For positions under $50,000, ETFs almost always cost-beat direct bond ownership. Above that, direct bonds avoid the small ETF management fee.

What's a bond mark-up?

Most retail bond trading is OTC, with the broker buying from a dealer and selling to you at a mark-up — the difference between dealer price and your buy price. Mark-up is your cost; it's not always disclosed transparently. FINRA requires mark-up disclosure on US trades; UK and EU brokers vary. Schwab and Fidelity publish per-bond mark-up.

Are bonds quoted in yield or price?

Price is the percentage of par (e.g., 99.50 = $995 per $1,000 face value). Yield is the effective annual return at that price. Higher price = lower yield, inverse relationship. Trading screens show both. Yield-to-maturity is the standard comparison metric. Each broker profile lists which view is default.

How are bond profits taxed?

Coupon (interest) is taxed as ordinary income in most jurisdictions. Capital gain or loss on price movement (sold before maturity) is treated as capital gains. Some bonds are tax-advantaged: US municipal bonds free of federal tax (sometimes state), UK gilts free of capital gains, EM bonds vary. Always check with a tax advisor.

What's the minimum bond purchase?

US Treasuries auction in $100 increments through TreasuryDirect or major brokers. Corporate and municipal bonds typically have $1,000 minimum face value. Some emerging-market bonds need $10,000-$100,000 for institutional access. Bond ETFs trade in single shares ($50-$200 typical), making fractional bond exposure accessible at any size.

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