Blog

If that’s important to you, we have a separate list of brokers with the best trading platforms. Most investors trade stocks and Fintech other investments through an online broker. In addition to those features, the companies that made our list of the best brokers don’t charge trade commissions. Webull is a strong contender for its diverse offerings, low fees, advanced trading platform and access to the Webull trading community. The online broker has a fairly diverse selection of securities—including stocks, ETFs, fractional shares, options and futures. Bankrate.com is an independent, advertising-supported publisher and comparison service.

The top online brokerage accounts for trading stocks in January 2025

E-Trade should appeal to both active traders and long-term investors because of its advanced trading platforms, available research, discounted options trades and thousands of no-transaction-fee mutual funds. An online brokerage account is a specialized financial account that allows you to invest in a number of different assets, including stocks, exchange-traded funds (ETFs), mutual funds, bonds, options and more. And because it’s online, this kind of account allows you to access the market on your computer or mobile device without the help https://www.xcritical.com/ of a human advisor from a full-service brokerage.

NerdWallet’s Best Brokerage Accounts for Online Stock Trading

Read our article on how to buy stocks for step-by-step instructions on placing that first trade. Commissions or other stock trading trade fees are rare among online best customer service brokerage firms brokers these days, but they can still pop up on stock options trades as a per-contract fee. See our list of the best brokers for options trading if you’re focused on trading stock options — several stock brokers have eliminated their contract fee completely.

NerdWallet’s Best Brokerage Accounts for High Interest Rates: 4%+

Its mobile app, in addition to its Trading Dashboard and Active Trader Pro platforms, also lets you choose your preferred way to trade. Along with its offerings for retail traders, Interactive Brokers also offers robust services to serious investors. While the IBKR Pro platform charges commissions on every trade, its additional features will more than makeup for the cost. In addition to IBKR’s SmartRouting feature, it also offers Trader Workstation (TWS), which is designed for active traders who trade multiple products and require power and flexibility.

How we select the brokerage accounts that make this list

Once the data was collected and scored via our proprietary model, we were able to rate each brokerage’s performance across 11 categories and 89 separate criteria. Each brokerage was then given a final score, which amounted to the weighted average of the criteria used in the 11 major categories. We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. Pamela de la Fuente leads NerdWallet’s consumer credit and debt team. Her team covers credit scores, credit reports, identity protection and ways to avoid, manage and eliminate debt.

On the positive side, many users appreciate Robinhood’s user-friendly interface, which makes trading accessible to beginners. Conversely, many users have criticized Robinhood’s customer service, which can involve long hold times, delays in responses and multiple steps before an issue is resolved. Since its founding over a decade ago, Robinhood has been on a mission to “empower a new generation of investors” through user-friendly educational resources and investing tools.

To find the best trading platform for beginner investors, we tested and scored 18 trading platforms, focusing on features that are essential for new investors. The Securities Investor Protection Corporation, or SIPC, protects the clients of brokers who are covered by the plan, including those listed above. That means it protects a customer’s assets, up to $500,000 in total with a $250,000 limit on cash, in the event that the broker fails. Some brokers such as Interactive Brokers take out even more insurance to reassure their customers that their assets are safe with the broker. You’ll get extensive customer support (think 24/7 access across email, phone and online chat), a high-quality mobile app in Power E-Trade and plenty of research and market commentary, if you’re looking for it.

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Brokers with strong customer support allow you to contact them and ask questions, sometimes at any hour of the day via phone or chat. They’ll also have educational sections on their site that walk you through how to trade on their platform, what to look for in an investment and more.

For example, you may be able to trade options without a base commission, but you’ll be charged a fee—often around $0.60—per options contract. If you’re an active trader, you’ll want to take these rates into consideration. Though advanced traders praise TradeStation’s advanced tools, less experienced traders say its platforms are intimidating and complex. Some appreciate the assistance provided by representatives, while others report long response times and less-than-helpful responses.

• Bankrate has reviewed the best brokers for beginners and offers its top picks.
• Motley Fool Money is a Motley Fool service that rates and reviews essential products for your everyday money matters.
• Other factors — such as access to a range of investments and the quality of the research — may be more valuable than saving a few bucks when purchasing shares.
• While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
• And if you’re just looking to trade with a mobile app and don’t want some of the frills, then you might also consider turning to Robinhood or Webull.
• If you’re looking for a broker that can execute trades from a third-party or custom-built trading platform, Tradier, which can link to dozens of third-party applications, is a sensible choice.

Bankrate has reviewed the best brokers for beginners and offers its top picks. And if you’re just looking to trade with a mobile app and don’t want some of the frills, then you might also consider turning to Robinhood or Webull. With close to a decade of writing and editing experience, Maisha specializes in service journalism and has produced work in the lifestyle, financial services, real estate, and culture spaces. She uses her editing expertise to communicate complex topics in straightforward, reader-friendly ways. EToro and TradeStation are the only brokerages on our list that charge an inactivity fee. Some of the best brokers on our list—Charles Schwab, Fidelity and IBKR—don’t charge for withdrawals.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Some brokers will fall straight out of contention, if you need a Roth IRA, for example, and the broker doesn’t offer it. Our team verified the data by conducting thorough online research and directly contacting companies to confirm or fill in any missing details.

But this insurance does not protect you from making a bad investment and losing money. You can buy a stock and it can decline in value, and its price may not rise again to what you paid. While FDIC-backed bank products are fully insured, market-based products can lose money.

Other notable features of this broker are access to international markets and fractional share investing. Since its founding in 1946, Fidelity has grown to become the largest provider of 401(k) retirement savings plans in the United States. Traditional full-service brokers do more than assist with the buying and selling of stocks or bonds. They often offer a wide array of services and products, including investing and tax advice and regular portfolio updates. However, they can charge substantial fees and transaction costs that can erode long-term investment gains. Active traders may want a little more out of their brokerage account.

Fidelity doesn’t charge commissions on stock and ETF trading while not participating in payment for order flow—a practice where brokers receive compensation for routing customer trades through specific market makers. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only.

The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives.