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*Rates are subject to change. All information provided here is accurate as of Jan. 9, 2025.
Online trading platforms let you invest in securities like stocks, bonds, ETFs and mutual funds so you can build an investment portfolio that meets your goals. However, each platform offers a unique set of features and sometimes complicated fee structures, which can make it hard to choose one.
Read on to find the best online trading platforms and our guide on how to choose the right one for you.
What to know about online trading platforms
- Online trading platforms allow users to buy and sell securities (stocks, ETFs, options, crypto, forex). They also offer access to real-time data, research and charting tools.
- While traditional stocks and ETFs still predominate, trading platforms are increasingly broadening their offerings to include newer asset classes like cryptocurrency.
- Many major platforms in the U.S. advertise zero-commission trades for stocks and ETFs, but the cost of using them can slowly add up over time due to hidden costs or fees.
- Stock brokers accounts in the U.S. are typically insured up to $500,000 by the Securities Investor Protection Corporation, including up to $250,000 in cash.
How we chose our top picks
Our team of writers and editors at Money has been researching trading platforms and the assets you can trade on them for years. To identify the best of the bunch, we evaluated platforms based on more than 18 data points, including range of available assets, fees, charting tools, automation features, order types and customer support channels.
Read our full methodology to learn more.
Our top picks for the best online trading platforms
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- Broad selection of assets at various risk levels
- Commission-free stock, ETF and options trading
- Extensive research tools and educational resources
- Reliable trade execution
Trading Fees Account Minimums Tradable Securities Account Types Robo-Investing $0 commission for US stocks, ETFs and options trades No minimum Stocks, Fractional Shares, Mutual Funds, IPOs, ETFs, Options, Bonds, Precious Metals, Index, Bonds, Crypto Individual, IRA, 529 College Savings Yes
Why we chose it: Fidelity offers a wide range of investment choices, low margin rates and commission-free trades for stocks, options, ETFs, bonds and mutual funds.
From self-directed brokerage accounts to an affordable robo-advisor for investors who prefer hands-off investing, Fidelity supports many different ways of investing. Those interested in a more diverse investing strategy and holding larger portfolios can also choose from two different wealth management plans assisted by personal investment advisors.
Fidelity features a wide variety of investment products including domestic and international stocks, precious metals, cryptocurrencies and fractional shares. The platform doesn’t charge account fees or require a minimum deposit for opening any of its brokerage accounts, and it’s one of the few brokers that offers mutual funds with a zero expense ratio.
The platform’s robo-advisor also stands out from its competitors. There’s no minimum amount required to open an account and no advisory, trading or rebalancing fees for accounts under $25,000. Although it does charge a relatively high 0.35% annual advisory fee for accounts with balances greater than that, Fidelity also throws in financial planning and coaching services.
- No minimum account balance
- Option to work with qualified financial advisors
- Tax-saving tools available
- No individual stock, mutual fund, or ETF trading
- $4 monthly fee for balances under $20,000
Trading Fees Account Minimums Tradable Securities Account Types Robo-Investing $4 monthly fee or 0.25% annual advisory fee for accounts over $20,000 No minimum ETFs Individual, Joint, Trust,Traditional IRA, Roth IRA, SEP IRA, Inherited IRA, Cash Reserve, Checking Account Yes
Why we chose it: Betterment features the easiest way to configure automated investing based on target goals and tax-loss harvesting capabilities.
Betterment is another robo-advisor that makes it easy to set it and forget it with your investments. The company uses cutting-edge technology guided by the help of financial advisors in order to help secure the maximum return based on your risk tolerance, investment timeline and other factors.
While it may not be ideal for investors who want to actively trade stocks, Betterment is a great choice for more cautious, beginner or hands-off investors. Upon opening an account you can pick an upfront tax-smart investing strategy that runs on autopilot, and keeps you informed with projections of potential returns.
Other noteworthy account features include automatic rebalancing of your portfolio and reinvestment of dividends. You can also set up recurring deposits and earn cash back when you pay with the Betterment Visa Debit Card.
- 0 commissions on stocks, options, ETFs and mutual funds
- $0.50 per options contract with 30+ trades per quarter
- Advanced mobile app for trading on the go
- Customized stock screening
- $500 minimum for automated investment accounts
- High margin rates
Trading Fees Account Minimums Tradable Securities Account Types Robo-Investing $0 commission for online US-listed stock, ETF, mutual fund and options trades $0 for self-directed brokerage account Stocks, ETFs, Options, Futures, Mutual Funds, Bonds Brokerage, Custodial Account, Coverdell ESA, Traditional IRA, Roth IRA, Rollover IRA, Managed Portfolios Yes
Why we chose it: E*TRADE offers a wide array of investment options, an intuitive platform and access to educational materials, research tools and market analysis to help beginners make informed decisions.
E*TRADE has over 9,000 mutual funds to invest in, over 4,000 of which are no-load, no-transaction-fee funds, making it easy for new investors to start building their portfolios. There are also managed portfolios with a flat 0.30% annual management fee for those who are seeking more guidance.
The platform offers checking and savings accounts that allow you to transfer funds between all your accounts seamlessly. It also provides latest market news recaps, daily insights and a comprehensive online library to help newer investors understand key trading and investing concepts.
Another highlight of E*TRADE are its options fees. For options trades, there is a standard contract fee of 65 cents per contract. But for customers who execute at least 30 stock, ETF, and options trades per quarter, this fee goes down to a low rate of 50 cents per contract.
- No fees on ETFs, stocks, options and Schwab mutual funds trades
- Ability to invest in foreign markets
- Large variety of research tools
- Relatively high margin rates
- No cryptocurrency trading
Trading Fees Account Minimums Tradable Securities Account Types Robo-Investing $0 commission on listed stocks, ETFs, mutual funds and options No minimum Stocks, ETFs, Options, Mutual Funds, Bonds, Futures, Annuities, International Stocks Individual, Joint, Traditional IRA, Roth IRA, Rollover IRA, Intelligent Portfolios Yes
Why we chose it: Charles Schwab’s wide selection of over 3,000 commission-free ETFs from multiple asset classes and fund companies makes it one of the best online trading platforms for ETFs trades.
With Charles Schwab, investors can open a brokerage account without a required account minimum and enjoy zero-commission trades on online-listed stocks, ETFs, options and mutual funds. The company also offers broker-assisted trades, and traditional, Roth and Rollover IRAs.
Through Schwab’s Global Account you can trade stocks in 12 foreign markets in their local currencies without an account minimum. You also get access to international stock screeners, third-party research and Schwab’s proprietary international equity ratings. Schwab also provides automated trading as well as investment planning with an expert advisor.
Self-directed investors can choose a vast variety of ETFs, including equity and non-equity ETFs from a range of fund companies in the United States. Some ETFs options include international ETFs, market-cap index ETFs, bond ETFs and currency ETFs. While all U.S. exchange listed ETFs are commission-free, some operating fees may apply to some funds.
- No commissions, trading fees or account fees
- Research data for basic and technical investment strategies
- Paper trading to practice before investing real money
- 70+ cryptocurrencies to buy and sell
- Advanced charting settings can be overwhelming
- No automatic dividend reinvestment
Trading Fees Account Minimums Tradable Securities Account Types Robo-Investing $0 commissions for U.S.-listed stocks, ETFs and options trades No minimum Stocks, Fractional Shares, ETFs, Crypto, Options, OTC Individual Brokerage Account, Traditional IRA, Roth IRA, Rollover IRA Yes
Why we chose it: Webull’s in-depth analysis tools and integrated trading paper functions makes it one of the best investment apps for active trading.
A mobile app-based brokerage, Webull offers commission-free stocks, ETFs and newer asset classes like cryptocurrency. The platform supports advanced order types and provides a combination of in-depth charting and market research data for users to develop personalized investment strategies.
Webull also offers a trading simulator, which is a great tool to practice strategies with virtual cash before risking your own money. Webull Paper Trading provides real-time data, integrated charting tools and over 50 customizable technical indicators. The company even holds competitions with cash prizes to encourage new traders to practice.
In addition, Webull features a news feed, where you can check top market news, other user’s posts and corporate actions of stocks in your watchlist. You can also write posts, create polls and share insight with the Webull community.
- Low pricing
- No management fees
- Pairs investors with financial advisors
- Large variety of index funds
- $25 annual account service fee
- $100 minimum to qualify for robo-advisor
Trading Fees Account Minimums Tradable Securities Account Types Robo-Investing $0 commission on stocks, ETFs, mutual funds or options online trades $0 Stocks, ETFs, Mutual Funds, Options, Bonds, CDs, Money Market Individual, Joint, Traditional IRA, Roth IRA, 529 Savings, UGMA/UTMA, Trusts Accounts Yes
Why we chose it: Vanguard’s wide selection of low cost mutual funds makes it the best option for investors looking to diversify their portfolios with index and actively-managed funds.
Vanguard manages one of the largest selections of low-cost mutual funds in the industry, offering a strong lineup of index funds and actively managed funds. It also offers stocks, ETFs, bonds, CDs and money markets.
Aside from individual and joint brokerage accounts, Vanguard offers retirement accounts and education savings accounts. It also has wealth management and multiple advisory services, including digital and personal advisors. However, these have account minimum requirements, ranging from $3,000 to $5 million.
Though Vanguard doesn’t have a minimum amount requirement to open an account, there are minimum investment requirements for some accounts. For instance, Vanguard Target Retirement Funds require a minimum of $1,000, whereas most actively managed funds have a $3,000 minimum.
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Other online trading platforms we considered
While we evaluated the companies below, they did not make the cut for different reasons, namely a limited range of assets, higher rates than average, and controversies surrounding business practices.
Robinhood
- Streamlined, easy-to-understand platform
- No account minimum
- Low trading costs
- Limited educational materials and trading tools
- High margin rate for non-premium users
- Poor customer support
Robinhood is a popular online trading platform among new and experienced retail investors. Its intuitive and easy-to-use web and mobile platform offers a streamlined experience, known for gamifying the way people invest. Like many other discount brokers, Robinhood features no commission fees and access to stocks, ETFs, options, IPOs, fractional shares and crypto.
Why it didn’t make the cut: Robinhood’s educational resources and research tools aren’t as comprehensive as other brokers, and only offers real-time market data and professional research if you subscribe to its Gold plan. The broker has also been involved in controversies related to company reliability, data breaches and trustworthiness.
SoFi
- No account minimum
- Barely any fees
- Only stocks and ETFs available
- No tax loss harvesting
SoFi’s user-friendly platform lets you manage banking and investing accounts all from one place. You can choose between DIY investing, automated investing or tax-optimized retirement accounts. In addition, you can get counseling from the company’s financial planners.
Why it didn’t make the cut: Compared to competitors in our list, SoFi selection of investment products is somewhat limited. For instance, its ETFs offering is mainly limited to SoFi’s own funds and Vanguard. However, it’s a good option for newer investors, especially if you’re already familiar with SoFi’s banking products.
Disclosure: INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA / SIPC.
Public
- Social media features
- Crypto and fractional shares available
- Account funding via debit card
- No mutual funds or options trading
- Paywalled date and market metrics
Public stands out as one of the few investing platforms that offers engaging social media features. You can follow other Public users, exchange trading ideas and share market news all within the same platform. Aside from its social features, Public offers similar features to those of most discount brokers.
Why it didn’t make the cut: Public doesn’t let you invest in mutual funds, options, OTC securities or fixed income securities, like CDs or bonds.
What you need to know about online trading platforms
Online trading platforms, or online brokers, let you buy and sell assets like stocks, bonds, mutual funds, options and crypto via a mobile app or website. These platforms are designed for you to easily open an account, deposit money and start trading within just a few minutes.
Online brokers also offer various research tools you can use to evaluate stocks and market activity in real time. For instance, many of them have built in stock screeners that allow you to find securities based on preferences like market capitalization, earnings per share or expense ratio.
Types of Brokers
Although every trading platform is different, they can be split into two broad categories: discount brokers and full-service brokers.
Discount brokers
With a discount broker, you’re in complete control of your securities and when you’d like to trade them. They offer self-directed portfolios, which require a hands-on investment approach, meaning you pick stocks, bonds and ETFs yourself.
Robinhood and Webull are examples of discount brokers. These platforms typically offer accounts that require low to no account minimums and may waive some of their fees for executing a certain amount of free trades per month, which makes them ideal for active or frequent traders.
Full-service brokers
Offering a more traditional approach, full-service brokers often pair clients with a financial adviser, who can offer advice about what stocks to buy or even manage your entire portfolio for you. Examples of full-service brokers include Morgan Stanley and Merrill Lynch.
Many full-service brokers feature other services too, such as retirement and estate planning, wealth management and tax planning. Consequently, account minimums and fees are much higher, so they are best suited for high-net-worth investors who want a more personal level of service.
Types of Orders
Orders are instructions sent by investors to their brokerage directing them to buy or sell a security. This can be done on the phone with a stock broker or through an online trading platform. The three most common types of orders are market orders, limit orders and stop-loss orders.
Type of Order Description Advantages Disadvantages Best used by… Market Order An order to trade at the best possible price available in the current market. Trades are issued and executed almost immediately. Low cost. Investors have no control over the price of the security. Investors interested in very liquid large-cap U.S. stocks and ETFs. Limit Order An order to trade at a specified price or better. Trades are issued at a price of the investor’s own choosing. Trades might not take place if there is no price match. Higher commissions. All types of traders. Patient investors with no rush to trade. Stop-loss Order An order to trade at the best available price after a specified price is triggered. No risk of missing trading opportunities. May help reduce potential losses. Trades might be executed at a way worse price than expected. More advanced traders.
How to choose the best trading platform for you
Before comparing online trading platforms, ask yourself:
- What are my investment experience and needs? Beginners should look for platforms that offer educational resources, responsive customer support and trading practice. Experienced trades may benefit more from platforms that let them issue specific types of trades and offer more complex analytic tools.
- What are my financial goal(s)? If your goal is to save for retirement, you should look for a broker that offers the right type of account for it, like a traditional or Roth IRA. But if you mainly want to throw a wrench in the system and invest in meme stocks or crypto, then you might want a platform with a greater variety of available assets.
Once that’s clear, you can continue with the following:
- Compare account fees and charges. Most online trading platforms offer commission-free trading for securities like stocks, ETFs and options. However, there are other fees and charges you should watch out for, such as account maintenance fees, options contract fees, margin rates and monthly memberships.
- Look for a variety of assets. Some trading platforms limit their selection to popular choices like stocks and ETFs, while others offer a wider range of assets, including futures, cryptocurrency and international stocks. Choose a platform that has the right choices for your investment strategy, not just the one with the most options.
- Check brokers’ background. Online trading platforms and brokers should be registered with the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). You can check a broker’s information and registrations with search tools like the SEC’s Investment Adviser Public Disclosure and FINRA’s BrokerCheck.
- Figure out deposit and withdrawal methods. Most trading platforms let you fund your account by linking a checking or savings account, but there are a few that allow you to use alternate methods, such as a debit or credit card and digital wallets.
- Evaluate security and customer support options. Look for platforms with additional security features, such as two-factor authentication or biometrics, and that have multiple customer support channels, for example, via phone, email and live chat. You can also check if the company has been involved in any recent data breaches.
- Try different trading platforms. Many online trading platforms let you open an account for free and without minimum deposits. This will help you evaluate its features, the process for placing orders and its research tools.
Online trading platforms vs. robo advisors
Self-directed online trading platforms give you the freedom to choose your own assets and develop an investment strategy. But this can often be time consuming and requires some basic knowledge of how to buy stocks — especially if you’re a first-time investor.
Robo-advisors offer a hands-off solution to investors who would rather pass off investment decisions to professional managers, a computer algorithm or a combination of both. In fact, the best robo-advisors typically offer advanced management algorithms and user-friendly interfaces, requiring little how-to knowledge.
Below are some key differences between online brokerages and robo-advisors.
Online trading platform Robo-advisor Allows you to create your own portfolios and manage trades according to your knowledge and investment strategy. Uses computer algorithms to create and automatically manage a diversified portfolio on your behalf. Lets you decide how passively or actively you want to invest and how much risk you are willing to take. Creates personalized portfolios based on your income, age, risk tolerance and investment goals. Grants access a wide selection of assets, such as stocks, options, ETFs, mutual funds and bonds. Only features ETF portfolios in most cases. Leaves you responsible for rebalancing your portfolio by buying or selling assets to keep in line with your desired allocation. Automatically rebalances your portfolio and performs tax-harvesting techniques to help you keep in line with your desired asset allocation. Provides free financial counseling in some cases. Sometimes offers human portfolio managers, although generally at an extra fee.
Best Online Stock Trading FAQs
How to buy stocks online?
First, choose an online broker that offers the services you need and open a brokerage account. Once the account is open, you’ll need to fund it by transferring money from a checking or savings account. Then, you can research stocks of your choice and place an order based on the numbers of shares you want to buy.
How much money do you need to start investing?
Many trading platforms have low or no investment minimums, meaning you can generally start investing in stocks with any amount — as little as $1. However, minimums can vary depending on the type of investment you choose. For instance, mutual funds and ETFs sometimes have minimums ranging from a few hundred to a thousand dollars.
What trading platforms have an OSO?
Order-sends-order (OSO), a type of order that triggers a second trade once a primary order is filled, is generally available in more advanced trading platforms, like Fidelity and TD Ameritrade. These platforms may also let you place multi-contingent orders, one-cancels-the-other (OCO) and one-triggers-a-one-cancels-the-other (OTOCO) orders.
What are the best FOREX trading platforms?
The most well-known and popular Forex brokers — MetaTrader 4, cTrader and ZuluTrade, to name a few — have developed platforms that function differently from regular discount brokers. These platforms excel in the breadth and depth of their product offerings, customer support, trading education and trustworthiness.
Which brokerage has the best online platform for managed accounts?
The best online brokerage platform for managed accounts depends on multiple factors, such as account management fees, portfolio customization and the investing strategies and features the platform offers. Most trading platforms in our top rated list feature robo-investing and managed accounts.
Methodology
The best online trading platforms make it easy for investors to seamlessly trade securities without charging commissions or high fees for their services.
We looked at the following factors when evaluating trading platforms:
- Online access – We favored companies with easy-to-use platforms that provide investors with multiple means of managing their account(s).
- Fees schedules – We looked for online trading platforms that charge low trading fees — or none at all.
- Investment research and tools – We favored online trading platforms with a wealth of tutorials, educational content and different investment tools.
- Automation technology – We considered the kind of technology each platform uses and gave higher rankings to those with efficient automated investing tools.
