10 Best Online Stock Brokers (trading platforms) in 2023

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I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

In this article, we’ll look at the history, mission, reviews and quality of service of the best online stock brokers. We’ll also highlight the benefits and disadvantages of online stockbrokers.

And we’ll offer guidelines to help you choose the right online broker.

Editors' Choice
Best for Beginners
Best Trading App
Best for Social Investing
5.0
5.0
4.5
4.5
  • Commission-free trades
  • Easy-to-use mobile app
  • 24/7 support
  • No account minimum
  • Commission-free trading
  • Extended hours trading
  • Free tools and resources
  • Mobile app
  • Commission-free trading
  • Trading community
  • Regulated broker-dealer
  • Mobile app
  • Fractional shares
  • Social trading community
  • User- friendly mobile app
Get up to 4 free stocks
Get up to 5 free stocks
Receive a free stock
No current promo
Editors' Choice
5.0
  • Commission-free trades
  • Easy-to-use mobile app
  • 24/7 support
  • No account minimum
Get up to 4 free stocks
Best for Beginners
5.0
  • Commission-free trading
  • Extended hours trading
  • Free tools and resources
  • Mobile app
Get up to 5 free stocks
Best Trading App
4.5
  • Commission-free trading
  • Trading community
  • Regulated broker-dealer
  • Mobile app
Receive a free stock
Best for Social Investing
4.5
  • Fractional shares
  • Social trading community
  • User- friendly mobile app
No current promo

Do you feel like you are spinning in circles searching for the right online stock broker? You’re in luck! I’ve compiled this list of the top online stock brokers of 2023 to help you decide.

Finding the best online stock broker doesn’t have to be a complicated exercise. So, after reading my list, you can be sure that the online stockbroker you choose is the right one for your needs.

Top 10 Best Online Brokerage Accounts

  1. Robinhood – Editors’ choice
  2. Webull – Best for beginners
  3. Public – Best trading app
  4. eToro – Best for social investing
  5. Tastyworks – Best for options trading
  6. Lightspeed – Best for day traders
  7. Firstrade – Best for penny stocks
  8. TradeStation – Best for futures trading
  9. Fidelity Investments – Best for index funds
  10. TD Ameritrade – Best U.S. stock broker

Methodology

I scoured the internet for many hours and narrowed my list to the 10 online stock brokers that provide the best overall experience for online stock trading. I examined criteria such as fees, trading platforms, customer reviews, security, free tools and resources and more.

This overview highlights the best features of each online stockbroker on my list.

Robinhood – Editors’ Choice

Vladimir Tenev and Baiju Bhatt founded Robinhood in 2013 to make stock trading accessible to all investors. There is no account minimum, and online trading is commission-free. The security protocols are top-notch, and there are educational resources.

Company Highlights

  • Location: Menlo Park, CA
  • Accounts: stockbrokerage, crypto, retirement, cash card
  • Investor Type: all investors
  • Fees: commission-free trades
  • Account Minimum: $0
Pros
  • Commission-free trades
  • Easy-to-use mobile app
  • 24/7 support
  • No account minimum
Cons
  • Limited education resources
  • No access to mutual funds or bonds

Why we choose Robinhood: Robinhood is undoubtedly one of the best online stockbrokers due to its low fees, online trading platform, security protocols and helpful tools. Its user-friendly mobile app makes trading a breeze.

Robinhood

Robinhood has commission-free investing, and tools to help shape your financial future. Sign up and get your first stock free.

We earn a commission if you sign up, at no additional cost to you.

Webull – Best for Beginners

Wang Anquan founded Webull in 2017. It offers online stock trading with zero commissions and excellent security. Webull’s trading platform is for everyone, regardless of their experience level.

Company Highlights

  • Location: New York, NY
  • Accounts: stockbrokerage, crypto, options
  • Investor Type: all investors
  • Fees: commission-free trades
  • Account Minimum: $0
Pros
  • Commission-free trading
  • Extended hours trading
  • Free tools and resources
  • Mobile app
Cons
  • No mutual funds
  • No live chat

Why we choose Webull: Webull made our list due to its high-quality mobile app, free tools and user resources. It is perfect for beginners and experienced online stock traders.

Webull

Invest in stocks, options, and ETFs, all commission-free, $0 minimum deposit. Sign up and open an account to get your first free stock!

We earn a commission if you open up an account, at no additional cost to you.

Public – Best Trading App

Like Webull, Public started in 2017. It focuses on providing an online trading platform that’s social. Public’s mission is to make investing accessible to everyone.

Pros
  • Commission-free trading
  • Trading community
  • Regulated broker-dealer
  • Mobile app
Cons
  • Limited customer support
  • Lacks trading tools

Why we choose Public: Public’s fees are low, and the security protocols are top-notch. Plus, Public’s app is one of the best in the business.

Company Highlights

  • Location: New York, NY
  • Accounts: stockbrokerage, crypto, treasures
  • Investor Type: all investors
  • Fees: commission-free trades
  • Account Minimum: $0
Public

All of your investing. All in one place. Invest in stocks, ETFs, crypto, and alternative assets, and get the insights that matter to your portfolio.

We earn a commission if you sign-up, at no additional cost to you.

eToro – Best for Social Investing

eToro is a unique online stock broker founded in 2007. It integrates aspects of social media with online trading, making online stock trading more accessible to the average investor. (not for U.S. users)

eToro also offers fractional shares and charges low fees for cryptocurrency trading.

Company Highlights

  • Location: London, Tel Aviv-Yafo
  • Accounts: stockbrokerage and crypto
  • Investor Type: all investors
  • Fees: $0 for stock trades; 1% for crypto trades
Pros
  • Fractional shares
  • Social trading community
  • User- friendly mobile app
Cons
  • Not available in all states
  • Limited customer support

Why we choose eToro: eToro made our list of the best brokerage accounts due to its social trading community. The mobile app and security protocols are top-notch. It’s perfect for stock traders who want to interact with other investors.

eToro

eToro is one of the world’s leading social investment communities that allows people to grow their knowledge. Start investing with eToro today!

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Tastyworks – Best for Options Trading

Tom Sosnoff and Scott Sheridan cofounded Tastyworks in 2011. Its mission is to educate the masses on trading via a user-friendly platform. It is one of the few platforms that allows options trading, and you can start without a minimum balance.

Company Highlights

  • Location: Chicago, IL
  • Accounts: stockbrokerage, options, futures, crypto
  • Investor Type: all investors
  • Fees: $0 for stock trades; $1 for options contracts
  • Account Minimum: $0
Pros
  • Fractional shares
  • No minimum balance
  • Options-focused mobile app
  • Award winning platform
Cons
  • No mutual funds
  • Lack of education

Why we choose Tastyworks: Tastyworks is one of the best stockbrokers with its award-winning platform. It has many helpful online resources and trading tools, making stock trading much more accessible than traditional online stockbrokers.

Lightspeed – Best for Day Traders

Dax Dasilva founded Lightspeed in 2005 as an alternative to traditional financial entities. It provides products, services and tools that empower traders to reach their goals.

Company Highlights

  • Location: New York and Chicago, IL
  • Accounts: stockbrokerage, options, futures, crypto
  • Investor Type: all investors
  • Fees: max $4.50 per stock trade; $0.60 per options contract
  • Account Minimum: $10,000
Pros
  • Powerful trading platforms
  • Exceptional customer support
  • Low costs for high-volume traders
  • Advanced order management
Cons
  • High account minimums
  • Not designed for beginners

Why we choose Lightspeed: Lightspeed is not for beginners. Its high-quality tools and services are perfect for experienced traders looking to take the next step. Additionally, it has excellent customer support to help you with any hiccups.

Firstrade – Best for Penny Stocks

John Liu founded Firstrade in 1985 to give the masses access to penny stocks and the same technology that Wall Street brokers are using.

Company Highlights

  • Location: New York, NY
  • Accounts: stockbrokerage, options, futures, crypto, retirement
  • Investor Type: all investors
  • Fees: $0 per trade
  • Account Minimum: $0
Pros
  • Commission-free trades
  • Easy-to-use mobile app
  • Powerful trading platforms
  • Extended-hours trading
Cons
  • No 24/7 customer support
  • No mutual funds

Why we choose Firstrade: Firstrade is one of the best brokerages because it gives its users access to penny stocks. The trading platform is easy to use, and you have access to extended-hours trading.

TradeStation – Best for Futures Trading

Rafael Cruz and William Cruz founded TradeStation in 1982 to empower customers with the edge they need to succeed financially.

Company Highlights

  • Location: Plantation, FL
  • Accounts: stockbrokerage, options, futures, mutual funds, bonds
  • Investor Type: all investors
  • Fees: $0 per trade
  • Account Minimum: $500
Pros
  • Commission-free trades
  • Advanced trading tools
  • Active trading community
  • Discounts on futures trading
Cons
  • High account minimum
  • Mediocre customer support

Why we choose TradeStation: TradeStation makes our list of the best brokerage platforms because of its active and engaging trading community. It gives you advanced tools for which other companies might charge.

TradeStation offers great deals on futures trading.

Tradestation

TradeStation offers a full suite of advanced trading technology, online brokerage services, & education.

We earn a commission if you sign-up, at no additional cost to you.

Fidelity Investments – Best for Index Funds

Fidelity is one of the oldest and most prestigious firms on this list. Edward Johnson II founded Fidelity in 1946 to provide outstanding financial services to its clients and help l build long-term wealth.

Company Highlights

  • Location: Boston, MA
  • Accounts: stockbrokerage, options, retirement, mutual funds, bonds
  • Investor Type: all investors
  • Fees: $0 per trade
  • Account Minimum: $0
Pros
  • Commission-free trades
  • Proven track record
  • Own index funds and ETFs
  • Excellent customer support
Cons
  • No futures trading
  • High broker-assisted trading fees

Why we choose Fidelity Investments: What sets Fidelity apart from the competition is its proven track record, its accessibility and friendly customer support. And it has an incredible selection of index funds and exchange traded funds.

TD Ameritrade  – Best U.S. Stock Broker

John Ricketts founded TD Ameritrade in 1971 to give its clients top-quality, affordable investment tools and services.

Company Highlights

  • Location: Omaha, NE
  • Accounts: stockbrokerage, options, retirement, mutual funds, bonds, futures
  • Investor Type: all investors
  • Fees: $0 per trade
  • Account Minimum: $0
Pros
  • Commission-free trades
  • Powerful trading platform
  • Dedicated customer support
  • Wide investment options
Cons
  • No fractional shares
  • High margin rates

Why we choose TD Ameritrade: TD Ameritrade made our list of the best online stockbrokers because of the large number of investment options and the high-quality learning resources. It also has an excellent quality trading platform.

Stock Brokers Investors Guide

To help you make an informed decision, this investor guide breaks down everything you need to know about evaluating online stock brokers and choosing the right one for your needs.

Benefits of Online Stock Brokers

  • No contribution limits: Online stockbrokers allow you to invest as much or as little as you want.
  • Flexibility: Online stockbrokers provide access to a wide range of assets and enable you to trade global markets in real time.
  • Withdraw money anytime: Since online stockbrokers are accessible 24/7, you can withdraw your money anytime.
  • Borrow money: Many online stockbrokers also have lending programs.
  • FDIC insurance: All the online stockbrokers on this list have FDIC insurance, so your investments are safe.
  • Lots of investment options: Online stockbrokers put the investing world at your fingertips, so you can choose the investment option that suits you.
  • Promotions and savings: Many online brokers offer promotions and savings to jump-start your investment journey.

Disadvantages of Online Stock Brokers

  • No tax advantages: Online stockbrokers do not provide any tax advantages. You cannot defer taxes by investing with an online stockbroker.
  • Capital gains taxes: You must pay capital gains taxes on profits from online stock trading.
  • Limited financial advice: Some online stockbrokers provide little financial advice, which might be problematic if you are new to online stock trading.
  • Commissions and fees: Most online stockbrokers also charge commission fees on every trade, so you may pay more than you bargained for.

How to Choose an on Online Brokerage

Given all the different factors, it can be hard to select an online brokerage. The most important things you must consider are low commissions and fees and quality customer service.

  • Low commissions and fees: This will save you money over the long term.
  • Reputation: Read online reviews and customer feedback to ensure your online brokerage is reliable.
  • Customer service: Good service can make or break your experience with a brokerage firm. Choose one that will respond quickly to your queries.
  • Investment options: Make sure the online broker you choose offers the investment options you want.
  • Free financial tools and education: These can give you an edge when you make your next investment.
  • Access to expert advice: Your online brokerage should provide experienced advisers.

Which Online Stock Broker Should I Pick?

Your ideal online stock broker will offer commission-free trades, powerful online tools and platforms, dedicated customer service alongside education and a wide array of investments.

Online Stock Broker FAQs

These are some commonly asked questions about online stock brokers.

What is an online stock broker?

An online stock broker is an online trading platform that allows you to buy and sell stocks online.

How does an online stock broker work?

An online stock broker provides an interface for you to enter orders, manage your portfolio and track your investments online.

What is the best broker for retirement accounts?

The best broker for retirement accounts is Vanguard due to its low fees and online tools.

What is the safest way to purchase stocks online?

The safest way to purchase stocks online is by using reputable online stock brokers that have been around for a while.

Make sure to research the online broker before investing.

Robinhood

Robinhood has commission-free investing, and tools to help shape your financial future. Sign up and get your first stock free.

We earn a commission if you sign up, at no additional cost to you.

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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