Lincoln is an investor and content marketer. He has worked for financial advisors, institutional investors, and a publicly-traded fintech company. Lincoln holds degrees in Finance, Economics, and Accounting.
Are you ready to start trading? You need an online broker. But not just any online broker.
Short-term trading, unlike long-term investing, means buying and selling stocks on the same day (day trading) or within a few weeks of opening the position (swing trading). The best online brokerage platform for trading may be different than the best brokerage account for investing.
Either way, I’m assuming you’re looking for an online broker for stock trading.
There are so many online brokers that it can be hard to know where to start. So let’s start with something basic.
Each of the best online brokers for beginners has a few common criteria:
- Low commissions and fees
- Easy-to-use platform
- Low (or non-existent) minimum deposits
These criteria, along with a handful of others I’ll cover below, are the most important when choosing an online broker to start trading and buy and sell stocks.
With that in mind, here is my list of the best brokerage accounts, including options for active traders — and I’ll mention trading platforms for longer-term investors, too.
I’ll take a look at their features, account fees, research tools, and other essential factors to help you make an informed decision about the best brokerage account for you.
Our Top 7 Picks: Best Online Brokerage Account
1. TradeStation: The Overall Best Online Stock Broker for Trading
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0
- Options commissions: $0.60 per contract
- Assets available: Stocks, ETFs, options, futures, crypto, bonds
- Minimum deposit: $0
TradeStation is easily the best online stock broker for trading.
TradeStation is fast, powerful, and customizable – the perfect combination for active traders.
While the number of features can be overwhelming at first, you will learn quickly how many different tools you need for a complete trading workflow that suits your trading strategy.
TradeStation offers a range of advanced trading tools including real-time market data, customizable charting, and a range of technical indicators. The platform also supports something called automated trading, which allows you to create and test your own custom trading strategies.
And if you ever want to branch out of stock trading into options, futures trading, or cryptocurrencies, you will already have access to each of these asset classes via your TradeStation account.
2. moomoo: The Best Brokerage Account for Low-Cost, Powerful Trading
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0
- Options commissions: $0 per contract
- Assets available: Stocks, ETFs, Options
- Minimum deposit: $0
moomoo is a commission-free online broker for stocks, ETFs, and options, but that’s just the tip of the iceberg…
moomoo is a newcomer to the world of trading brokerages, but it’s quickly stealing market share from others in the space. Its powerful (and mostly free) set of features, coupled with its friendly user interface make it a top choice for traders of all skills levels.
- There is no charge for the data at level II for US brokerage account customers
- Earnings calendar and informative earnings hub
- It allows you to invest simultaneously in multiple markets
- During premarket and postmarket hours, trading is available
- There is the option of paper trading
Plus, if you use our links, you can score up to 16 free stocks. Hit the button below to get started:
3. TradeZero: The Best Online Broker for Short Selling
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0.005 per share
- Options commissions: $0.50 per contract
- Assets available: Stocks, ETFs, Options
- Minimum deposit: $200
TradeZero is a US-based online brokerage firm that specializes in commission-free trading for stocks and options.
The company’s focus on low-cost, high-speed trading has quickly gained it a reputation as a top online broker for trading.
It’s one of the best brokerage accounts for trading, but it’s especially good for short selling. Many of the best shorting opportunities are on “hard-to-borrow” stocks (stocks with low volume or trade on non-major exchanges). TradeZero’s short locator service makes it easy to find and short sell these companies.
Use extreme caution when shorting stocks.
It’s not the cheapest online brokerage account on this list (ZeroPro and ZeroWeb cost $59/month), but you get what you pay for.
4. eToro: The Best Online Stock Broker for Social Investing
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0
- Options commissions: $0 per contract
- Assets available: Stocks, ETFs, options, crypto, commodities
- Minimum deposit: $50
eToro is a solid and popular online brokerage platform that is best known for its unique social trading features. These features make it easy to learn from, exchange ideas with, and even copy the trades of other traders.
eToro’s CopyTrader allows users to follow and copy the trades of other traders. If you’re a beginner and are nervous about making big mistakes, this feature is particularly helpful. You can use it while you brush up on your studying and learn about the stock market, while not missing out on the trades of more experienced traders.
eToro’s user-friendly interface is easy to navigate and it offers a range of tools and features to help traders succeed. Its customizable watchlists, technical analysis tools, and range of educational resources can each make you a better trader.
eToro is the best online broker for both new and active traders looking for a unique social trading platform with a user-friendly interface and low fees.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
5. Webull: The Best Broker for Stock Trading on a Mobile App
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0
- Options commissions: $0.00 + $0.50 per contract
- Assets available: Stocks, ETFs, options, crypto
- Minimum deposit: $0
Webull is a great online broker for trading on-the-go, well-suited for mobile traders who want to stay up-to-date on the latest market news and execute trades from their smartphones.
Most importantly, Webull makes it easy to perform technical analysis on your phone – no need for a computer and multiple monitors.
The Webull app also provides traders with fast and reliable market access, real-time market data, and advanced charting tools. In addition, the app allows traders to execute trades quickly and easily, with no account minimums or fees.
Webull is one of the most affordable online brokers available. The broker does not charge any commission fees for trading stocks, options, or ETFs, and it offers competitive pricing for other securities, such as cryptocurrencies, should you be so inclined.
Plus, use any of our links and get up to 12 free stocks.
6. Interactive Brokers: The Best Online Broker for Advanced Traders
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0.005 per share
- Options commissions: Differs – USD 0.65/contract for Lite + Exchange
- Assets available on Interactive Brokers: Stocks, ETFs, options, futures, forex, bonds, mutual funds
- Minimum deposit: $0
If you want the platform used by expert active traders, check out Interactive Brokers (IBKR).
If you need a wide range of investment products, or want to hit the market with some complex trading strategies, Interactive Brokers might be the best online broker for you.
With its advanced trading platform, low fees, and extensive range of investment products, Interactive Brokers is one of the best online brokers for experienced traders and investors.
Interactive Brokers’ primary target is sophisticated traders with large account balances. Its interface is not the easiest to use, but you will have access to nearly every asset class, including global stock markets.
The broker also offers a range of advanced trading tools, such as algorithmic trading and smart order routing, to help traders execute complex trading strategies for those looking for an even deeper edge.
It’s the most advanced online stock broker on this list.
7. TD Ameritrade: The Best Online Broker for Beginners
Overall rating: ⭐️⭐️⭐️⭐️⭐️
- Stock commissions: $0
- Options commissions: $0.65 per contract
- Assets available: Stocks, ETFs, options, futures, forex, bonds, mutual funds
- Minimum deposit: $0
If you want a full-service brokerage with a bias toward traders, TD Ameritrade is the best overall choice.
TD Ameritrade is a well-known online brokerage and is considered a top online broker for beginners.
The brokerage firm has multiple trading platforms and apps which range from fairly user-friendly to fairly complex, making it a great online broker for both beginners and experienced traders.
Plus, its full-service nature makes it great for clients who want a long-term investment portfolio alongside their active-trading portfolio. It offers a wide range of securities including stocks, options, ETFs, and mutual funds while it also has you covered on the advanced trading tools, such as conditional orders and mobile trading, to help traders execute complex trading strategies.
TD Ameritrade is also one of the best when it comes to educational resources. The broker offers a range of educational content, including webinars, video tutorials, and articles, to help traders learn about investing and trading, and to give you that competitive edge you desire. In addition, TD Ameritrade offers a range of tools to help traders build and manage their portfolios, such as a customizable watchlist and a risk management tool.
If you’re looking for a wide range of investment products, in-depth educational resources, and a stunning overall product, TD Ameritrade is probably the broker for you. And it’s easily one of the best online stock brokers for trading.
Final Word: The Best Stock Brokerage Firms for Trading
Successful active trading isn’t just about making the right investment decisions. Choosing the right online stock broker can significantly impact your success.
- TradeStation is the best online stock broker for trading overall due to its powerful trading platform, low fees, and extensive range of investment products.
- TradeZero is the best online stock broker for traders who want advanced tools for short-selling.
- eToro is an excellent choice with minimal account fees for socially-inclined traders who want to follow and copy other traders.
- Webull is the best online stock broker mobile app for trading, with an easy-to-use interface and a range of advanced features. Plus, get free stocks.
- Interactive Brokers is the best choice for experienced traders who want access to a wide range of investment products and the ability to execute complex trading strategies.
- TD Ameritrade is an excellent choice for both beginners and experienced traders who want access to a wide range of investment products and comprehensive educational resources.
And don’t forget, if you’re a new trader with less than $25,000 in your account, you will fall under the SEC’s PDT rule which prevents you from placing more than 3 day trades in a 5-day period.
The best way to get around this is by opening multiple brokerage accounts at different brokerages, which is also the best way to test which broker you like the most.
So don’t just limit yourself to 1, choose a couple of the best brokers for stock trading from the list above.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. Securities are offered through Moomoo Financial Inc., Member FINRA/SIPC. The creator is a paid influencer and is not affiliated with Moomoo Financial Inc. (MFI), Moomoo Technologies Inc. (MTI) or any other affiliate. The experiences of the influencer may not be representative of the experiences of other moomoo users. Any comments or opinions provided are their own and not necessarily the views of MFI, MTI or moomoo. Moomoo and its affiliates do not endorse any strategies that may be discussed or promoted herein and are not responsible for any services provided by the influencer. This advertisement is for informational and educational purposes only and is not investment advice or a recommendation of a security or to engage in any investment strategy. Investing involves risk and the potential to lose principal. Investment and financial decisions should be made based on your specific financial needs, objectives, goals, time horizon and risk tolerance. Any images shown are strictly for illustrative purposes. Past performance does not guarantee future results. U.S. residents trading in U.S. securities may trade commission-free using the moomoo app through Moomoo Financial Inc. (MFI). Please see our pricing page for other fees. Level 2 data is free to moomoo users that have an approved MFI brokerage account. Trading during Extended Hours Trading Sessions carries unique risks, such as greater price volatility, lower liquidity, wider bid/ask spreads, and less market visibility, and may not be appropriate for all investors.
FAQs:
Which one is the best broker for online trading?
There are many great brokerage accounts out there; our pick for best online brokers overall are TradeStation and eToro due to their assortment of brokerage services, simple process for stock and ETF trades, access to alternative investments, and low account fees.
What is the most trusted stock broker?
The most trusted stock broker is probably either TD Ameritrade or Fidelity, though all of the major U.S. stock brokers have FDIC and SIPC insurance and are regulted by the SEC.
Which is best broker for beginners?
The best broker for beginners is Fidelity or TD Ameritrade. The best broker for beginner traders is eToro, Webull, or Robinhood.
Who is the No 1 stock broker in USA?
The no. 1 stock broker in the USA is probably either TD Ameritrade or Fidelity.
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