Table of Contents Hide
- What Is Stock Trading?
- What Is A Stock Trading Platform?
- How To The Best Online Stock Trading Platform
- The Best Overall Stock Trading Platform
- 15 Best Online Stock Trading Platforms 2021
- #1 eToro
- #2 TD Ameritrade
- #3 Capita
- #4 E*TRADE
- #5 Libertex
- #6 Robinhood
- #7 AvaTrade
- #8 Tradestation
- #9 Trading 212
- #10 WeBull
- #11 Skilling
- #12 Merill Edge
- #13 IG
- #14 Ally
- #15 FXCM
- Frequently Asked Questions (FAQs)
- We Also Recommend
When it comes to investments, some are willing to hang in there for the long haul. They are like a mountain that cannot be moved in the investment world.
Then there are the others who live for the thrill of the day-to-day hustle and bustle. They enjoy buying and selling regularly, looking for the next best deal on the market. This is a more demanding and adventurous part of the investment world but somehow, they make it work for them. These guys are the stock traders.
In this article, we’ll list the best online stock trading platforms you can use to trade seamlessly.
Before we go on to list the best stock trading platforms, let’s go on to define stock trading.
What Is Stock Trading?
Stock trading entails periodically purchasing and selling equities to time the market. Stock traders aim to profit from short-term market occurrences by selling stocks at a profit or buying stocks at a cheap price. Some stock traders are day traders, meaning they purchase and sell multiple times every day.
Despite the thrill of stock trading, stock traders have to spend several hours of their day following the market trend to get the best deals throughout the day. To stay abreast of all this information, online stock trading platforms have been created for stock traders to enable that they don’t miss out on a single detail.
What Is A Stock Trading Platform?
A trading platform is a software that enables investors and traders to place trades and monitor accounts through financial intermediaries. Oftentimes, trading platforms will come bundled with other features, such as real-time quotes, charting tools, news feeds, and even premium research.
It is a piece of software that allows you to open, close, and manage market positions using a financial intermediary like an online broker. In exchange for keeping a funded account and/or performing a certain number of trades per month, online trading platforms are frequently offered for free or at a reduced fee.
Prop trading platforms and commercial trading platforms are the two sorts of trading platforms. Commercial platforms, as their name implies, cater to day traders and retail investors. They are characterized by ease of use and a variety of useful tools for investor education and research, such as news feeds and charts. Prop platforms, on the other hand, are tailored platforms created by huge brokerage firms to meet their specialized needs and trading styles.
How To The Best Online Stock Trading Platform
Picking an online stock trading platform depends on what type of investor or trader you are. There are also some other factors to consider before deciding on a stock trading platform.
One key thing that needs to be put into consideration is the fees of the platform and the features available. Day traders may want to look into a platform that provides its users with level 2 quotes and market depth charts to aid them in their decision-making. Long-term investors may want to look into platforms that offer long-term strategies.
Another thing to be considered is the platform requirements. Some platforms require day traders to have a certain amount in equity, traders and investors need to be able to keep up with the platform requirements before deciding on if it’s the best choice for them.
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The Best Overall Stock Trading Platform
The best stock trading platform that is available is TD Ameritrade. TD Ameritrade offers zero-cost trades, amazing trading platforms, superior market analysis, industry-leading starter education, and dependable customer support. All active traders, including day traders, options traders, and futures traders, benefit from TD Ameritrade’s superior service. Customers may access their TD Ameritrade accounts from Alexa to Facebook, Twitter, Apple Messages, Android Auto, and Apple CarPlay, as a technology and artificial intelligence (AI) leader. This platform comes highly recommended for beginners, helping them learn the ropes of trading and investing.
15 Best Online Stock Trading Platforms 2021
Let’s take a look at some of the top online stock trading platforms in 2021.
Your funds are always safe on eToro because it is tightly controlled. You’ll have access to a variety of asset classes once you’ve registered an account with eToro. There are dozens of forex trading pairs available on the site, with a nice mix of majors, minors, and exotics. You may also acquire stock in over 2,400 firms through 17 different marketplaces. This comprises stock exchanges in the United States, the United Kingdom, Germany, Hong Kong, and elsewhere. ETFs backed by Vanguard, iShares, and SPDR are also supported by eToro.
With quality trading platforms, $0 commissions on online stock, options, and ETF trades, and a vast variety of mutual funds, TD Ameritrade caters to both active traders and novice investors. The platform also offers features like free research, high-quality trading platforms, good customer support, no account minimum, and also a large selection of investments.
This is the best trading platform for investors that desire to make small deposits, it helps you get the best trade that your money can buy. With a $20 minimum deposit, you can get started with this top-rated brokerage site. This is perfect if you’re new to online trading or don’t have a huge quantity of money to invest.
E*TRADE has long been regarded as one of the most well-known online brokerage firms. Active traders will appreciate the company’s zero commissions and robust trading platforms, while new investors will profit from a wide library of training resources. This platform offers easy-to-use tools, ETF trades, access to extensive research, and also great customer service.
Libertex is one of the few online trading platforms that charge no spreads. Furthermore, many of the markets available through this CFD broker are commission-free. Although some financial products have a tiny commission payable per slide, others do not (rarely above 0.1 percent ).
Robinhood offers free stock, option, ETF, and cryptocurrency transactions, as well as a $0 account minimum. Only taxable investment accounts are accessible, and no mutual funds or bonds are available. The option to acquire fractional shares of stocks and the new recurring investing function are two of Robinhood’s advantages. It’s also one of the few brokers that allow investors to trade cryptocurrency at the moment.
One of the top brokers for automated trading is AvaTrade. This is due to the provider’s compatibility with both MT4 and MT5. AvaTrade goes above and beyond by supporting ZuluTrade, MQL5, and Duplitrade. These third-party platforms and tools include everything you’ll need to set up an automated trading system. AvaTrader supports dozens of currency pairings, indices, bonds, stocks, ETFs, and cryptocurrencies when it comes to supported markets.
TradeStation is the industry standard for sophisticated, aggressive traders, but its new $0 trades are an attempt to appeal to more casual investors. The fact that Tradestation used to serve only professional brokers and money managers is one of its most appealing features. Regular investors now have access to the firm’s high-octane instruments, especially after the company reduced trading expenses to $0 and the minimum investment for its TS GO offering to $0 as well.
#9 Trading 212
Trading 212 is a good option for creating long-term portfolios. This easy-to-use broker offers over 10,000 stocks and ETFs from a variety of worldwide marketplaces. This focuses heavily on shares listed on the London Stock Exchange (LSE) and the Alternative Investment Market (AIM) – ideal if you want to invest in the UK economy as a whole. The NYSE and NASDAQ in the United States, as well as exchanges in Germany, Spain, Switzerland, and Frankfurt, are among the other markets available at Trading 212.
With its clean design for desktop and mobile apps, Webull will appeal to the mobile-first generation of casual investors, but the brokerage also offers an astonishing selection of tools for aggressive traders. However, its lack of access to a few common asset classes, as well as its instructive content, may leave true newbies in the dark.
Skilling streamlines the process of buying and selling CFD instruments while on the go. You can trade on 800 highly liquid markets with the Skilling trading app. Hundreds of shares are included, the majority of which are traded on the NYSE and NASDAQ. You can also trade oil and natural gas, hard metals, currency, and indexes in the energy markets. Every financial market that Skilling offers can be traded commission-free and with razor-thin spreads.
#12 Merill Edge
This trading platform is affiliated with the Bank of America. Merrill Edge’s powerful combination of thorough research and reasonable pricing, including unlimited free trades on stocks and exchange-traded funds, appeals to casual traders.
This IG does not mean Instagram (some of you were thinking it, LOL), it is a trading platform that is amazing for forex trading. If you want to trade in the multi-trillion-dollar FX market from the comfort of your own home, IG is a good option. This top-rated broker is currently a publicly traded corporation that offers more than 80 currency pairs. You can pick between two account kinds while trading forex with this service. If you are a casual trader, the CFD account is the perfect option for you. This allows you to trade with modest stakes and eliminates the need to pay trading commissions when entering or exiting a market. Rather, all fees are included in the spread. Even on a simple CFD account, the spreads given by IG are extremely competitive.
With $0 trading expenses on qualifying U.S. equities, a $0 account minimum, a large variety of no-transaction-fee mutual funds, and low-cost options trading, Ally Invest caters to both novice and experienced stock traders. But Ally doesn’t just compete on price with the big online brokers: it also offers extras like FX trading, automated portfolio management, and a set of complimentary technical investing tools.
FXCM, which was founded in 1999, is a reputable online broker that offers forex and CFD trading. Stocks, hard metals, energies, cryptocurrencies, and indices are all included in this category. FXCM provides a comprehensive set of instructional and research resources.
Frequently Asked Questions (FAQs)
The top three most accurate trading platforms are; Fidelity, Tradestation, and TD Ameritrade.
Some things to look out for are; Real-time account balances, Real-time updates of buying power, and margin exposure, Portfolio-management tools, Open-order status
Yes, you can invest in the share market without any broker, and also you can save some costs like brokerage charges.
The following are the four actions to take to begin trading:
1. Look for a stockbroker. The first step will be to locate an online stockbroker.
2. Create a Demat and Trading Account.
3. Add money to your Demat and Trading accounts by logging in.
4. View stock information and begin trading.
Some things to keep in mind before choosing a trading platform best for you are:
1. Try not to follow the trend of others, do enough research.
2. Ensure it has a user-friendly interface.
3. Check if it has basic functionalities and additional features also make sure it has a stability of performance.
4. Know the support it offers.
From the seasoned investor to the newbie looking to learn the ropes, the stock trading options above prove to be adequate for any category you fall into. As always, ensure that before you choose a stock trading platform, you do extensive research. Make sure you know what your investment goal is and then choose a platform that will adequately help you meet your trading goals.