Online Investment Companies is required if you want to purchase stocks like Apple (AAPL), Facebook (FB), Netflix (NFLX), or Tesla (TSLA).
Every stock trading platform is unique. And now — with every broker offering $0 stock and ETF trades — deciding which broker to use comes down to differences in the overall trading experience. When choosing a broker, investors should consider a variety of factors, including investment options, trading tools, market research, beginner education, customer service, and ease of use.
StockBrokers.com’s review process is exhaustive: We analyzed more than 200 variables across multiple brokers for a total of 3,075 data points this year.
Best Trading Platforms 2022
Based on 205 variables, here are the best online brokers for 2022.
- Fidelity – 5 stars – Best overall and best for beginners
- Best trading platforms and tools, best customer service at TD Ameritrade
- E*TRADE – 5 stars – Best mobile trading, best for ease of use
- Charles Schwab – 4.5 stars -Best IRA accounts, best broker podcast
- Interactive Brokers – 4.5 stars – Best for professionals, best offering of investments
Other Trading Platforms
In addition to our top five trading platforms for 2022, we reviewed 10 others: Ally Invest, Firstrade, J.P. Morgan Self-Directed Investing, Merrill Edge, SoFi Invest, TradeStation, Tradier, Robinhood, Vanguard and Webull. Here are our high-level takeaways for each. To dive deeper, read our reviews.
Ally Invest – For current Ally customers looking to invest in stocks, Ally’s universal-accounts experience and easy-to-use website is a convenient solution.
Firstrade – While Firstrade is easy to use and terrific for Chinese-speaking investors, its overall offering struggles to stand out against brokers that also offer $0 stock trades.
J.P. Morgan Self-Directed Investing – J.P. Morgan Self-Directed Investing gives Chase Bank customers easy access to investing, and its all-in-one platform makes money and asset management simple and straightforward.
Merrill Edge – Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers eligible clients the best rewards of any bank broker we tested in 2022.
SoFi Invest – SoFi Invest offers a wide range of services, is relatively easy to use, and gets high marks for its mobile app. Its lack of research, as well as its lagging education and trading tools, leave it a step behind industry leaders.
TradeStation – As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.
Tradier – Tradier is aimed at the advanced trader, but one who is not interested in cryptocurrencies or futures trading. To get the most out of being a Tradier client, investors must also be willing to pay for a premium platform.
Robinhood – Robinhood used to shine thanks to its easy-to-use mobile app and $0 trades. However, today, all of the largest online brokers offer free stock and ETF trades. As a result, it is much more difficult for Robinhood to outduel the competition.
Vanguard – Vanguard is aimed squarely at buy-and-hold investors and its platform reflects that focus. Vanguard is known for its low-cost funds, and the investment platform is really built for those looking to invest solely in mutual funds and ETFs.
Webull – Webull offers a unique community experience and easy-to-use trading platforms that will satisfy most newer investors. However, for everyday investing, Webull lacks the trading tools and features to compete with industry leaders who also offer $0 stock and ETF trades.
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