Best Online Brokers and Trading Platforms of 2023

Do not own any securities like stock broking or bonds? Anticipate a much harder time saving for retirement — or building wealth at all.

Over time, stocks get back around 10% per year on average. On average, your money loses about 3% of its value every year to inflation. Charles Schwab

Whether you are a student with under $1,000 to your name or a working. For youth who simply have not taken the plunge to open a broking account and start investing, there is no better time than the extant to start catching up.

The Best Online Brokers and Trading Platforms

You acquire that you need an investment portfolio that includes stocks and probably bonds. But where should you open an account? Opt for one of these brokers as an affordable, rounded choice for beginning investors, and start building actual wealth.

1. Charles Schwab

Best Well-Rounded Brokerage

  • Account Minimum: $0
  • Fees: No commissions; no Robo-advisor fee for digital-only; $30 every month plus a one-time $300 prevision fee for human cross advisor; no account opening fee for normal accounts like taxable online brokerage accounts and IRAs.

I use Charles Schwab as my main broker. There is a little to dislike about it.

Schwab leads the trend of eliminating commissions. Many online brokers reluctantly obeyed, but Schwab was the first to stop charging clients a fee every time they bought or sold security.

It provides every account type you could ask for, including IRAs, Roth IRAs, ESAs, and HSAs. Also. It provides all types of security as well, including options trading platforms, futures trading platforms, and thousands of mutual funds with no brokerage or load fee.

I especially like the best online brokers, which are free if you invest an account minimum of $5,000. It utilizes Schwab’s index funds, which come with exceedingly low-cost ratios and provide broad exposure to the stock market at large.


  • No commissions: Purchase and sell securities with no transaction fee.
  • Free Robo-advisor: Many Robo-advisors charges for their service; Schwab does not, notwithstanding, it does need a minimum investment of $5,000.
  • Comprehensive account options: Open any tax-profited account at Schwab.
  • Trading software: For active traders, Schwab provides free trading software called StreetSmart Edge.

Schwab’s online platform provides a detailed investigate on stocks and funds, although it can be a little very large for novice investors. But as a well-rounded brokerage, Schwab is difficult to beat.

TD Ameritrade

Best for advanced Traders

  • Account Minimum: $0
  • Fees: No commissions; 0.3% Robo-advisor fee; no account opening fee for ordinary accounts like assessable brokerage accounts and IRAs.

TD Ameritrade makes for a strong competitor to Schwab, with a similarly well-rounded platform. It provides many different account types, including IRAs and ESAs. And it permits to the trade of all the same types of securities, including stocks, bonds, exchange-traded funds (ETFs), mutual funds, and futures. Among mutual funds, it gives offers over 4,100 funds with no transaction fee.

New investors especially appreciate TD Ameritrade’s customer service. It provides 24/7 customer support by phone, email, text message, and Facebook messenger. It also provides support via Twitter messaging and Amazon Alexa.

TD Ameritrade’s famous stock trading tools. The firm ranks among the best trading platforms on the market, going best beyond stock trades and ETF trades.

TD Ameritrade does provide a Robo-advisor service, but it is not the most pliable. The company charges an advisory fee of 0.3%. Think about free the best broker for options like Schwab, SoFi Invest, or Ally Invest when you start investing.

TD Ameritrade review for more details, and keep an eye on TD Ameritrade’s new-account sign-up promotions, which always offer considerable perks.


  • No commissions: You cannot assert with free.
  • Built for traders first: Strong, flexible website, mobile app, and software platform called platform
  • Large account options: Like Schwab, you can open most account types at TD Ameritrade.
  • Strong customer service: TD Ameritrade provides better customer service than most brokers, mostly “discount” online brokerages.

3. Fidelity

Best Broker for Low Costs

  • Account Minimum: $0
  • Fees: No commissions; 0% to 0.35% Robo-advisor fees; no account opening fee.

All the best online brokerages, Fidelity does not charge commissions. But that is only the start of how they save investors’ money.

Loyalty particularly shines in offering ETFs with no costly ratios at all. Even the major scriptural index fund defender brokers like Schwab and Vanguard cannot claim the same. The goal is for similar affordability to mutual funds, offering over 3,700 with no transaction fees.

The service is free for account balances under $10,000, then costs $3 per month till the balance passes $50,000, then charges a 0.35% management fee.


  • Free or low-cost funds: I do not know of any other service offering ETFs with no cost rate, and Loyalty offers many mutual funds with no transaction fees.
  • Customer service: Loyalty enjoys a powerful reputation for customer service.
  • Education: Affiance offers a property of free educational resources for investors at all skill levels.

4. SoFi Invest

Best Broker for beginners

  • Account Minimum: $5
  • Fees: No commissions; no Robo-advisor fee; no account opening fees, $5 paper statement fee.

Best Broker for International Trading, SoFi Invest does business with a few differences. The online brokerage charges no commissions or per annum fees and even provides free career counseling. I particularly love that SoFi Invest provides its Robo-advisor service for free with a lower limit deposit of only $5. It also includes access to human investment advisors with the Robo-advisory often a costly premium feature.

SoFi also lets investors purchase international stock shares, another unusual feature. That means you can buy portions of shares if the cost of a single share is more than you can afford.

 It also provides access to purchase various stock broking directly from the brokerage rather than having to go through a potentially risky crypto exchange. Very few brokers provide that service currently.

But it does not provide some staple financial products like bonds and mutual funds, or stock broking, ETF which leaves it uneventful for many investors, particularly older and more traditionally-minded investors.


  • Free human Robo-advisor: I do not know any other robot-advisors that provide investment advice from a live human free as part of their robot-advisor service.
  • Stock shares: Purchase portions of a single share, rather than whole shares.
  • Buy and sell crypto currencies directly through the brokerage.

5. Merrill Edge

Best Broker for International Trading

  • Account Minimum: $0
  • Fees: No commissions; 0.45% Robo-advisor fee or 0.85% human cross advisor fee; no account opening fee for broking accounts.

Bank of America bought brokerage firm, Merrill Lynch, in 2008. And has since taken great pains to combine their conventional banking arm with the got investment brokerage, which they rebranded Merrill Edge.

Customers can access all banking accounts with a single login, and immediately transfer money between accounts. And view all of their financial property in a single place. The twin banks also provide customer rewards programs that many find enticing.

Just do not expect some of the best brokers and advanced traders, “disruptive” bells, crypto currencies, or fractional share investing. Merrill Edge does provide a Robo-advisor but is not known for it, and the fees are comparatively high.


  • The entire combination between traditional & investment banking: One login, all accounts; plus banking rewards available.
  • Both traders and long-term investors similar will enjoy Merrill Edge’s stock screeners and other research features.
  • Education: Merrill Edge produces not just articles but also a podcast, videos, webinars, free tools such as calculators, and virtual live events.

6. Robinhood

Best for Mobile Traders

  • Account Minimum: $0
  • Fees: No commissions; no account opening fee for common broking accounts.

Robinhood’s mobile app is very easy to use that some more paternalistic law writers accused it of “gamifying” day trading and investing.

The brokerage provides commission-free stocks, ETFs, and options. I especially love that Robinhood offers fractional stock investing. But where Robinhood sets itself different is in offering crypto currencies.  I even opened a brokerage account with Robinhood, especially for crypto currency consideration. That said, opponent SoFi Invest has overtaken Robinhood in the number of coins available.

Robinhood’s end there, however. It does not provide mutual funds or bonds, taking them away from the table for many investors. Neither does Robinhood provides any other types of accounts beyond taxable brokerage accounts.


  • Simple, intuitive & mobile app: Robinhood keeps its web interface and mobile app extremely easy and clean, which many new investors appreciate.
  • Crypto currencies: Robinhood provides seven crypto currencies presently, with the promise of more to come.
  • Fractional shares: Buy portions of stocks if you do not want to purchase a full share.

7. Acorns

Best for Combining Automated Savings

  • Account Minimum: $0
  • Fees: $3 monthly for most features $5 per month for UGMA/UTMA accounts added in.

If you want to automate both your savings and your investments in one dive, check out Acorns. It issues a checking account for you and gives you a debit card. When you purchase. It grows up the cost to the next dollar. It transfers the difference to your brokerage account or IRA.

Its Robo-advisor steps in investing that money personally for you based on the investing strategy you choose. While it does not offer many choices is easy to understand and works for most investors. Acorns have extended its options over the last few years too. Now provides UGMAs and UTMAs for college savings, along with ESG investment options.

Acorns do one thing well and do one thing only: If you want any control over what you investing or you want an account other than a brokerage account or IRA.


  • Automated saving: Acorns increase your debit card purchases to the nearest dollar and sets to one side the difference for you.
  • Integrated Robo-advisor: Once saved, Acorns invests the money for you founded on your preferences.
  • Clarity: Acorns does not try to be each item to everyone, and it keeps its automated services easy and hands-free

8. Stash

Best for Combining Automation with Flexibility

  • Account Minimum: $0
  • Fees: $1 to $9 per month; higher-than-average ETF cost ratios

Instead of investing your money for you like a Robo-advisor, the store recommends a benefit allocation and 500 ETFs based on your assessment questioner. You then invest in, incorporating those recommendations as much or as little as you see fit.

Stores show you their recommended ETFs, a quick essence of why they recommend this portfolio, a visualization bar marking the risk level, and the expense ratios of each ETF. They provide over 1,800 ETFs and stocks, especially considering they assent fractional share investing.

A brokerage account, Stash offers a bank account complete with a debit card, and retirement account options. As a nice feature, Cache provides offers automated savings known as Auto-Stash from your linked checking account to your brokerage account.

Stash charges between $1 and $9 monthly, and their ETFs charge higher-than-average cost ratios. Unfortunately, they only provide stocks and ETFs, with no mutual funds, bonds, or other securities.


  • Advice you can accept flexibly: You get specialist investment advice, but can be ahead of your own investment choices.
  • Like Acorns, Stash provides a checking account with automatically rounded-up savings.
  • Buy and sell fractional shares of stocks if you do not want to purchase a full share.

9. Ellevest

Best Women-Oriented Robo-Advisor

  • Account Minimum: $0
  • Fees: $1 to $9 per month

As a Robo-advisor built especially for women, Ellevest does some things well but has its limitations. As a Robo-advisor, it creates your investment plan on your individual financial goals and manages them on your investor outline. It does not provide a traditional brokerage where you invest manually. Ellevest offers retirement accounts with higher-priced memberships.

The Robo-advisor and money membership say it takes women’s special financial needs into account with its financial advice. Members and non-members can also buy one-on-one sessions with financial advisors and administrative coaches to acquire more particular advice, and higher membership levels come with higher discounts on the retail price.


  • The company claims to serve women’s special financial planning needs — messaging those appeals to many women.
  • Ellevest prides itself on educating women in financial literality.
  • Similar to Acorns and Stash, Ellevest now provides equal checking account services and automated savings through buy round-ups.

How We Choose the Best Trading and Investing Platforms for Beginners

We use various factors to estimate online brokerages and trading platforms. For each, we think about how it affects the overall user experience.

Investing Style

This is an important difference for beginners. Some novices want nothing to do with stock-picking, during others live for it.

The best online stock brokers allow you to choose. They provide managed investments, Robo-advisor accounts, and self-directed trading accounts also.

Fees, Expenses, and Commissions

The cheaper, the better.  The online stock broker is not free — thanks, to regulatory fees — the best do not charge trading commissions.

Property Available

For self-directed investment accounts, we choose platforms with a wide range of available property, including but not limited to:

  • Exchange-traded stocks
  • OTC stocks
  • Bonds
  • Exchange-traded funds (ETFs)
  • Mutual funds
  • Options
  • Crypto currencies
  • Forex

Educational Resources for Beginner Investors

Investor education is essential at any skill level, but especially for beginners. We look for investing platforms that go heavy on educational materials, with videos, webinars, articles, and more. People who do not completely yet know their way around the markets.

Research and Analysis Tools

It’s also critically crucial for DIY investors to have professional-grade research and analysis tools in their arrangement, such as:

Customer Support

Not all brokerages have 24/7 support. We do not hold that against them. We do choose brokerages that have long customer support hours, though not just during the market.

Usability and Mobile Functionality

The best online stock brokers are mobile-friendly. You should be capable to place difficult trading orders, reviewing your whole portfolio at a glance, and doing market research from your phone.

How Much Does an Online Stock Broker Cost?

Ideally, nothing. Commission-free trading platforms are increasingly usual these days, so if DIY investing is yours, you should not have to pay trading commissions at all.

All most Robo-advisors do still charge a small percentage of property under management (AUM). Often under 0.50% per year. That’s still less than the average human financial advisor. You can find commission-free Robo-advisors if you know where to look; Ally Invest is one of our favorites.

How to Select Your First Online Stock Investing Account

So, you are ready to open your first online investment account. This is a big step.

Before you go ahead, take “stock” of your circumstances and think about your priorities as an investor. You want a platform that supports you as you proceed more confidently.

Pay close attention to:

Educational Tools. As a beginner, you want a platform that easy you into the market and helps to grow at your own pace

Research and Analysis Tools. If you are a DIYer, you shall want access to executive reports, stock screeners, market charts, and other tools to help in your market research and technical analysis.

Fees and Expenses. Not any brokerage is 100% free, even those that do not charge trading commissions. Pay close attention to management fees, and fund expenses.

Investing Style. Set-it-and-forget-it managed investments? DIY stock-picking? Both? Opt for a platform that embraces your investing style.

Other factors could weigh on your decision too, like the accessibility of different properties like crypto and options. Fortunately, there is no law against having more than one brokerage account.

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