Investing in the stock market has become increasingly accessible to both experienced investors and beginners alike, thanks to the rise of online brokers. These platforms provide the convenience of buying and selling stocks, ETFs, and other investments from the comfort of your own home. With so many options available, choosing the right online broker can be daunting. In this article, we will explore the best stock market platforms for online trading, taking into account factors such as trading fees, investment selection, research tools, and customer support.before starting we suggest you return to our previous article for more details on how to start on the stock market
Beginners: J.P. Morgan Self-Directed Investing (stock market)
For beginners looking to dip their toes into the world of online trading, J.P. Morgan Self-Directed Investing is a solid choice. This platform offers $0 stock and ETF trades, $0.65/contract options trades, and $0 mutual fund trades. It provides a user-friendly trading platform and integrates seamlessly with other Chase products, making it attractive to existing Chase customers. As an added bonus, J.P. Morgan Self-Directed Investing is currently offering a promotion where you can earn up to $700 when you open and fund an account with qualifying new money.
Active Traders: TradeStation (stock market)
If you're an active trader who engages in frequent buying and selling, TradeStation is the platform for you. With $0 stock and ETF trades, $0.60/contract options trades, and $1.50/contract futures trades, TradeStation offers competitive pricing. Its robust trading platform comes equipped with exceptional charting, customizable workspaces, and over 120 technical indicators. You can even design, backtest, optimize, and automate your own trading strategies for equities, options, and futures.
High APY on Uninvested Cash: Robinhood Gold (stock market)
For investors who want to make the most of their uninvested cash, Robinhood Gold is worth considering. With a subscription fee after a 30-day free trial, Robinhood Gold offers a suite of premium tools and features, including lower margin rates, Level II market data from Nasdaq, and professional research from Morningstar. Additionally, you can earn an impressive 5.00% APY on your uninvested cash (1.5% without Gold), making it a competitive option compared to high-yield savings accounts. Whether you choose to subscribe to Robinhood Gold or not, you can still enjoy commission-free investing and trading on the platform.
Alternative Assets: Public (stock market)
If you're interested in diversifying your portfolio with alternative assets, Public is the platform for you. In addition to offering $0 stock and ETF trades, Public provides access to a wide range of alternative investments, including Treasuries, crypto, art and collectibles, and music royalties. By not participating in payment for order flow (PFOF), Public ensures that your orders are routed directly to the exchanges, allowing for execution at the best possible price.
Overall Trading: Fidelity Investments (stock market)
Fidelity Investments consistently ranks highly due to its comprehensive offering. With $0 stock and ETF trades, $0.65/contract options trades, $0 Fidelity mutual fund trades, and access to over 3,300 no-transaction-fee (NTF) mutual funds, Fidelity caters to both beginners and seasoned investors. The web platform provides all the necessary tools for research and analysis, while the Active Trader Pro platform offers advanced features for more active traders. Currently, Fidelity is running a promotion where you can earn $100 when you open a new account with $50 or more.
Mobile Trading: E*TRADE (stock market)
For investors who prefer to trade on the go, ETRADE offers an excellent mobile trading experience. With $0 stock and ETF trades, $0.65/contract options trades, and $1.50/contract futures trades, ETRADE provides competitive pricing. The ETRADE Web platform is ideal for beginners, while the Power ETRADE platform caters to more active traders with its advanced features. Both platforms are complemented by the highly rated E*TRADE Mobile app, which is feature-rich and user-friendly.
Investor Education: TD Ameritrade (stock market)
If education is a top priority for you, TD Ameritrade is an excellent choice. With $0 stock and ETF trades, $0.65/contract options trades, $2.25/contract futures trades, and access to over 3,600 NTF mutual funds, TD Ameritrade offers a comprehensive range of investment options. What sets TD Ameritrade apart is its commitment to investor education. The platform offers a robust library of content, hosting webinars, virtual workshops, and in-person events covering various investment topics. Whether you're a beginner or an experienced investor, TD Ameritrade provides the resources you need to make informed investment decisions.
Long-Term Investing: Charles Schwab (stock market)
For those focused on long-term investing, Charles Schwab is a reliable choice. With $0 stock and ETF trades, $0.65/contract options trades, $2.25/contract futures trades, and $0 OneSource mutual fund trades, Charles Schwab offers competitive pricing. The platform also provides access to over 2,000 third-party, commission-free ETFs, allowing investors to diversify their portfolios across a range of asset classes. Charles Schwab's ETF screeners are highly regarded and offer comprehensive analysis.
Low Costs: Ally Invest (stock market)
If low costs are a priority for you, Ally Invest is an attractive option. With $0 stock and ETF trades, $0.50/contract options trades, $0 mutual fund trades, and $1 bond trades, Ally Invest offers competitive pricing across the board. Additionally, Ally Invest allows you to quickly move money from your brokerage account into an Ally savings account, where you can earn a higher interest rate on uninvested cash compared to most brokers.
Low-Cost Options Trading: SoFi Invest (stock market)
For frequent options traders looking for low-cost options trading, SoFi Invest is a budget-friendly choice. With $0 stock and ETF trades, 0/contract options trades, and a 1.25% crypto fee, SoFi Invest eliminates per-contract options fees that many brokers charge. The platform provides a user-friendly options-trading interface, complete with educational content and in-app trading guides. SoFi Invest also offers helpful metrics like breakeven percentage and maximum profit and loss to assist traders in making informed decisions.
Stock Rewards: Stash (stock market)
Stash offers a unique approach to investing, allowing you to choose between self-directed DIY investing or automated investing. With monthly plans ranging from $3 to $9, Stash provides access to a personal brokerage account, a retirement account, and Smart Portfolio—a robo-advisor that constructs a diversified portfolio based on your risk profile. As an added incentive, Stash offers the Stock-Back debit card, which earns up to 1% back in stock every time you use the card.
Simple Interface: Plynk Invest (stock market)
If a simple and intuitive interface is what you're after, Plynk Invest delivers. With $0 stock and ETF trades, $0 mutual fund trades, and a 0.50% crypto fee, Plynk Invest offers a user-friendly experience. The mobile app is designed to be intuitive and easy to navigate, providing straightforward tips and how-tos to help investors grow their knowledge. Plynk Invest also offers a $10 sign-up bonus to get you started.
In conclusion, the best stock market platforms for online trading cater to a variety of investor needs and preferences. Whether you're a beginner, an active trader, or focused on long-term investing, there is an online broker that can meet your requirements. Consider factors such as trading fees, investment selection, research tools, and customer support when choosing the right platform for you you can return to our previous article for more details on how to start on the stock market. Happy trading!
