Trading platforms are the banks for stock traders. When you want to buy or sell shares, you will need to use one of them. They allow you to buy and sell stocks, commodities, ETFs and options online. The problem is there are so many to choose from. You can pick your broker by its name, country, accessibility to the US markets or the amount of investment tools it provides.
However, not all trading platforms are created equal. According to Manta’s website, there are roughly 150 online securities trading platforms in the country. Most online trading firms offer multiple services including stock brokerage, wealth management and other capital markets services. So here are the top stock trading platforms out there!
TD Ameritrade’s thinkorswim (BEST INVESTMENT APP FOR EXPERIENCED INVESTORS)
Available on Apple iOS and Android
Why We Picked It
More advanced traders may want to consider TD Ameritrade’s app. Through the normal TD Ameritrade app, you’ll have access to the basics (e.g., stock, options and futures trading) as well as advanced charting functions, margin trading and the ability to buy and sell securities on the over-the-counter (OTC) market. Traders can monitor market-breaking news easily in-app and benefit from a wealth of educational resources.
In addition, as a TD Ameritrade client, you gain access to thinkorswim, our top choice for Best Online Broker Mobile App. Through the thinkorswim mobile app, you can engage in pretty much all of the trading capabilities of the normal TD Ameritrade app plus more sophisticated investments like forex.
What’s more, you can access the settings you enable on thinkorswim’s powerful desktop platform in-app, meaning your chart drawings and market scans are always with you. thinkorswim also offers chatrooms and paper trading for you to discuss and try out your trading ideas.
Those in search of a cryptocurrency option, though, will be disappointed, and you don’t have the ability to buy fractional shares, though this is likely less important for advanced traders with larger capital reserves at their disposal.Pros & Cons
- Ability to trade OTC, options, futures and forex
- Margin trading available
- No access to cryptocurrencies
E-Trade
- Available via desktop, Apple iOS and Android App on Google Play
- Best For: Options traders
- Sign up here
E-Trade has long been seen as a leading stock trading app for retail investors. E-Trade provides investors access to educational resources that assist you with conducting investment research and analysis and diversifying your portfolio.
The online brokerage platform also has a significant amount of options trading and data functionality after the company acquired OptionsHouse.
These tools can assist with making more-informed options investment decisions. The company also acts as a stock futures app for more experienced investors.
As another service, E-Trade also offers retirement planning to clients as well as in-person informational sessions annually in certain areas.
E-Trade has three platforms. All are free and have no minimum investment limit.
- Power E-Trade offers investors real-time data and studies.
- E-Trade Web provides live market commentary and stock analysis.
- E-Trade Pro gives you strategy scanners and back-testing.
Each stock trading platform gives you access to a dashboard for tracking your investment accounts, types of investment vehicles, and your trades. E-trade does have small fees for options contracts and some fees involved with retirement accounts.E-Trade | Best In-Class Online Trading
- $0 commission for online US-listed stock, ETF and options trades, a full range of investments (including professionally managed accounts), and best-in-class online and mobile trading platforms.
- Opening an account is easy and only takes a couple of minutes.
Firstrade: Best for International Investors
- Available via desktop, Apple iOS and Android App on Google Play
- Best For: Mutual fund and target date fund investors
- Sign up here
Firstrade is a leading online brokerage firm offering a full line of investment products and tools designed to help investors improve their financial position through sound investing practices.
Like every other investing app provided on this list, it too does not assess commissions for making stock trades.
Firstrade combines proprietary trading technology with an intuitive user interface, offers customer service availability and utilizes a mobile application like all others in this article.
In short, the platform offers access to over 11,000 different investments, including index funds, stocks, bonds, target date funds, mutual funds, and more.
Firstrade offers a comprehensive solution for all of your investing needs, committing itself to excellence and putting customers first.Firstrade | Full Investing Suite – $0 Trades
- Firstrade offers a full suite of investment options in stocks, ETFs, bonds, mutual funds, options and more.
- The service charges $0 commissions and has been awarded the #1 Best Online Broker Platform for ETFs and Commissions by Kiplinger.
Binance.US (BEST INVESTMENT APP FOR CRYPTOCURRENCY)
Available on Apple iOS and Android
Learn MoreOn Binance.US’ Secure WebsiteWhy We Picked It
Crypto enthusiasts will notice that none of our prior picks allow for trading digital currencies. Those who want exposure to what some have called “digital gold,” then should instead consider the app of Forbes Advisor’s top choice for best cryptocurrency exchange, Binance.US.
Certain beginner-friendly investment apps, like Robinhood or Webull, allow you to easily buy crypto along with other more mainstream investments, like stocks and ETFs. But just because you can doesn’t mean you should.
Platforms like Robinhood and Webull offer a relatively limited range of cryptos and, perhaps more importantly, don’t let you move your cryptos off of their apps. Some crypto investors like to transfer their coins from the apps where they buy them into so-called “cold” crypto wallets disconnected from the internet to protect their investments from hackers. What’s more, these platforms’ “free” trades aren’t really free and instead have fees baked into the prices you buy and sell your cryptocurrencies at.
That’s why we recommend a pure crypto app, like Binance.US, even for those new to crypto. Binance.US provides access to countless more cryptocurrencies, from mainstays like Bitcoin and Ethereum to dozens of lesser-known altcoins. Beginners and advanced traders alike benefit from Binance.US’ industry-low fees and instant buy or more advanced trading platforms.Pros & Cons
- Industry-low trading costs
- More than 50 cryptocurrencies available
- Strong user reviews and cybersecurity rating
- Binance, its international parent company not available in the U.S., has more currency options
- Residents of some states, including Texas and New York, cannot use Binance.US
- Not enough educational material for new investors
eToro: Best for Crypto Trading
- Available via desktop, Apple iOS and Android App on Google Play
- Best For: U.S. investors focused on crypto-trading
- Sign up here
If you’d like to invest in more than just stocks or ETFs and also invest in cryptocurrencies like Bitcoin, Ethereum and Dogecoin, you might want a high-powered, user-friendly app like eToro.
eToro is the world’s leading social investing platform, offering a social trading feature where you can learn and copy the strategies of other traders.
If you are a profitable trader, you can have eToro users follow you and earn income based on how well you perform and how many people follow your trades.
The platform offers multi-asset trading capabilities with over 2,000 instruments available through the brokerage. You can trade crypto and other assets in 14 exchanges worldwide.
eToro can fulfill your needs for crypto investing by offering commission-free trading on 17 cryptocurrencies and other assets. Opening an account is simple and only takes $50 to start.
The bad news is that the forex fees are high and there is a $5 withdrawal fee charged.eToro | Free Crypto Trades & More
- Sign Up and open $100K virtual account for free
- Trade for free, including the 17 most popular cryptocurrencies
- Start to replicate the trades of popular investors automatically, in real time
- eToro USA LLC is a registered money services firm w/FinCEN
Transacting in virtual currencies is subject to various risks, such as price volatility, and is therefore not suitable for everyone. Your capital is at risk.
Vanguard
- Available via desktop, Apple iOS and Android App on Google Play
- Best For: Investors looking for a simple index fund investing app
- Sign up here
Vanguard has long been regarded as the low-cost index fund investing service provider. In fact, John Bogle originated the idea of index fund investing and first offered them to retail investors as mutual funds and eventually exchange traded funds (ETFs).
The company has slashed fees over the years in a bid to outcompete other companies in the space and will always advocate for a low-fee index fund approach to investing.
Vanguard excels as a free stock trading platform when you wish to buy and sell Vanguard securities like index fund ETFs. You pay no commissions on their products like VTI or VTSAX or VFIAX.
Recently, Vanguard also announced it will no longer charge trading fees on competitors’ ETFs as well, a departure from a long-standing position. Vanguard also carries no account minimums.
What Vanguard lacks compared to some of these other apps is its clunky nature. I use the app for managing my work’s 401k plan and will admit to its bloat and lack of clarity on calculating investment returns on a percentage basis.
My main beef with their interface is my performance statistics will not save after I add them to assess how my funds have performed. All that said, Vanguard might have made this by design, incentivizing you to check your funds less often and thus living by their index fund ethos.
Robinhood
- Available via desktop, Apple iOS and Android App on Google Play
- Best For: Investors looking for a simple, no frills investing platform
- Sign up here
Robinhood became the first free stock app to slash trading commissions to $0. This shook up the industry and caused several competitors to rethink how they make money and follow suit.
Many merged as a result in the hopes of shedding costs and remaining competitive to this investing startup.
Likewise, many new apps like Robinhood have cropped up in recent years, many of which feature on this list.
The service boasts free stock trading alongside index funds, options, penny stocks and cryptocurrencies.
Robinhood’s app offers a simple and easy-to-use design. There aren’t numerous features called out to distract you from what you are using the app to accomplish: trade commission-free.
Like Webull, Robinhood has no fees upon account opening and includes no minimum balance requirements. These brokerages have been at the vanguard for eliminating the common barriers associated with investing in the stock market.
Consider signing up for a Robinhood account to see what you think. The company makes it worth your while by offering a free stock for signing up.Robinhood | Commission-Free Trades, No Minimums
- Robinhood is an investing app famous for its commission-free trades on ETFs, options and cryptocurrency.
- It has no account minimums and comes with a free stock upon signing up for the service.
Conclusion
Choosing a brokerage is an important part of the buying and trading stocks, as it allows you to execute stock transactions. So it’s essential to choose wisely. If you don’t know how to trade stocks, some of the terms might sound foreign to you, but it doesn’t have to be this way. Anyone can learn how and become comfortable with investing and trading stocks. You can use stock brokers reviews to discover appealing features and helpful reviews of the top ten online stock trading platforms –It helps you pick out the best platform for your needs – enables you compare different platforms – and prevents you from making critical mistakes that could ruin your finances or career as an investor. While knowing which brokerage platform is right for you is one