What should traders look for in the best online brokerage platforms? First of all, it’s essential to understand that not all online trading firms, programs, apps, etc., are made with every type of investor in mind. If you are a beginner and want to take things slowly, avoid brokerages that focus on day trades. Suppose you’re not interested in individual stocks. In that case, the best online broker for you will be one that has more of a focus on ETFs, mutual funds, REITs, or whatever else you’re looking for.
Any investor should look for a few other things, regardless of their trading strategy, are trading platforms that don’t charge outlandish fees or commissions, have an intuitive, user-friendly interface, offer access to valuable learning materials, and an easy way to set up and fund an account. The minimum deposit amount required to get started should be fair as well.
With this info out of the way, here are a few of the best online brokerage platforms to look into right now:
Fidelity
This one is great overall, and it’s especially a good option for beginners. There are low fees with all of the products and a variety of portfolio and wealth management options. Users can also get assistance from a Robo-advisor to help with simple investment strategies. Any un-invested cash gets placed into a money market fund.
Charles Schwab
Consider something like the Charles Schwab trading platform if you are interested in ETF trades. There are no fees at all for ETF, online stock, or options trading. Members with a global account can access stocks in 12 foreign markets, with a $0 account minimum. In addition, get a variety of research tools that include reports from other leading publications and real-time news and access to market commentary by Charles Schwab’s in-house experts and market commentary.
TD Ameritrade
This broker is the best online brokerage for those who prefer mobile trading. Just install the app, sign up for an account, and get going. There are $0 fees for ETFs, stocks, and options trades. Also, from your phone, you can access all of your trading information. In addition, the app will give you access to all of the company’s educational tools, research, planning, and so on.
Zack’s Trade
While not as widely known as other online brokers on this list, Zack’s Trade deserves recognition for its impressive day trading platform. This firm is the best online brokerage for any investor looking for an affordable way to be an active trader. The platform and tools, order execution, and customer service are all top-notch. Foreign stocks are also available.