Dec 5, 2023

Top 10 Online Stock Brokers Ranked XTB : Overall best online stock broker supporting commission-free trading and fractional shares. XTB supports thousands of stocks from 16 global exchanges. Beginners can buy and sell stocks online or via the XTB app. Robinhood : A popular online stock broker that also offers an Android/iOS app. Robinhood offers 0% commission on all supported stocks, ETFs, and cryptocurrencies. Only US-listed stocks are covered and premium features cost $5 per month. Interactive Brokers: An established trading platform with a global presence, Interactive Brokers is a great option for diversification. It supports thousands of assets in 33 different countries, not to mention premium analysis tools and market insights. Libertex: Launched in 1997, Libertex is an established stock broker with over three million clients. It offers 0% commission on ‘real’ stocks in the US, Canada, and Europe. Alternatively, Libertex also offers leveraged stock CFDs with short-selling tools. eToro: User-friendly stock broker supporting over 3,000 global companies across the US, Europe, and more. No commissions are charged and the minimum investment requirement is just $10. TD Ameritrade: Buy and sell US-listed stocks, ETFs, and options without paying commissions. TD Ameritrade also offers thousands of mutual funds and bonds at competitive fees. Its native platform, thinkorswim, comes packed with features. AvaTrade: CFD specialist supporting hundreds of leveraged stocks, AvaTrade is ideal for short-term traders. Both long and short orders are supported, plus advanced charting tools and technical indicators. AvaTrade is regulated in nine jurisdictions. Charles Schwab: Another established broker offering 0% commission on US-listed stocks and ETFs. Charles Schwab also offers commission-free trading on mutual funds and options contracts. This online broker is suitable for newbies and pros alike. Fidelity: Top-rated option for long-term investors looking to add stocks to a retirement account. There are no trading commissions on US-listed stocks, and fractional shares can be purchased from just $1. Trade Nation: CFD stock broker offering leverage of up to 500x and spreads from 0.0 pips. Trade Nation is regulated in multiple countries, including the UK and Japan. Advanced indicators and analysis tools can be accessed via an MT4 connection. Best Online Stock Trading Platforms Reviewed There are a lot of factors to consider when choosing an online stock broker. This includes trading commissions, usability, regulation, supported exchanges, and customer service. Read on for our reviews of the best stock trading platforms for 2023. 1. XTB – Overall Best Stock Broker for Beginners We rank XTB as the best option for beginners. This online stock broker offers a user-friendly dashboard and there is no minimum deposit requirement to get started. XTB supports more than 2,800 stocks from 16 global exchanges. This makes it seamless to build a diversified portfolio across many different markets. When it comes to fees, XTB offers 0% commission trading on all supported stocks. The only condition is that your monthly trading volume remains below €100,000. If you go over this threshold, a 0.2% fee will apply. Either way, you’ll also need to cover the market spread, which is displayed when setting up an order. XTB will appeal to budget investors; the minimum trade size is just €10. This means you can buy expensive stocks like Netflix and Tesla without risking too much money. In addition, XTB also offers 0% commissions on over 300 ETFs. This covers popular index funds like the Russell 2000 and S&P 500. XTB also supports some of the best cryptocurrencies to buy . This includes Bitcoin, Ethereum, Dogecoin, Stellar, and other leading altcoins. In terms of payments, XTB accepts debit/credit cards and e-wallets. Bank transfers are also available, but expect to wait several days for the funds to arrive. Another feature is the XTB demo account. This is free to open and enables you to buy and sell stocks with risk-free funds. XTB is available on standard web browsers. It also offers a mobile app for iOS and Android, not to mention desktop software for Windows and Mac. However, do note that XTB is not available in the US, New Zealand, Belgium, and Hong Kong. No. Stocks 2. Robinhood – Buy and Sell Fractional Stocks From Just $1 per Trade Robinhood ensures that even budget-conscious consumers can invest in the stock market. Its fractional investing tool comes with a minimum trade requirement of just $1. This is also the case with other supported markets, including ETFs, cryptocurrencies, and options. However, do note that Robinhood is only suitable for trading US-listed stocks. While a selection of American Depositary Receipts (ADRs) are listed, options are limited. Nonetheless, Robinhood is a commission-free broker. There are no minimum deposit requirements and both ACH and domestic wires are supported. That said, only the first $1,000 will be credited instantly. If you need higher limits, you’ll need the Robinhood Gold account. This costs $5 per month and comes with additional features, including higher interest rates. Robinhood also offers margin trading accounts, enabling US clients to amplify their positions. The main drawback of Robinhood is its ‘Payment for Order Flow’ system , which means unfavorable spreads are charged. No. Stocks 3. Interactive Brokers – Premium Investment Experience Covering Stock Markets in 33 Countries Although Interactive Brokers is preferred by experienced traders, it’s also suitable for beginners. For a start, there is no minimum deposit requirement. What’s more, Interactive Brokers supports fractional stocks; the minimum trade size is just $1. We also like that Interactive Brokers supports thousands of stocks from around the world. In fact, it lists 150 global markets from 33 countries. US clients can buy domestic stocks and ETFs at 0% commission. Non-US clients will pay a variable commission depending on the market and the monthly trading volume. Interactive Brokers is also one of the best online stock brokers for research. It offers premium analysis tools that cover technical and fundamental data. You’ll also find advanced stock screeners, simulators, and expert market insights. Interactive Brokers supports various devices, including desktop software and a mobile app for iOS and Android. Its client interface is also available via standard web browsers. No. Stocks 4. eToro – US-Friendly Broker Offering 0% Commission Stocks and Copy Trading Tools eToro is one of the best online stock brokers for US clients. That said, eToro is a global broker, so traders from most other countries are also accepted. eToro supports more than 3,000 global stocks from multiple exchanges. This includes stocks listed in the US, the Middle East, Asia, and Europe. Irrespective of the listed exchange, all stocks on eToro can be traded at 0% commission. This is also the case with ETFs. The minimum trade requirement on eToro is $10, regardless of the share price. eToro offers a user-friendly dashboard that comes with financial news, social sentiment metrics, and pricing charts. eToro also offers copy trading tools. After choosing an experienced investor, you’ll automatically copy them like-for-like. Smart portfolios are also popular, which are professionally managed by the eToro team. eToro is available on desktop browsers and as a mobile app for Android and iOS. The minimum deposit to get started is an affordable $10. However, those outside of the US and the UK will need to deposit at least $50. eToro accepts many convenient payment methods, including Visa, MasterCard, PayPal, Skrill, and Neteller. Beginners can start with the free demo account, which never expires. Finally, not only is eToro regulated by FINRA but also by the FCA, CySEC, and ASIC. No. Stocks Analysis tools might not suit experienced traders 5. Libertex – Buy Real Stocks at 0% Commission or Trade Leveraged CFDs Libertex is a hybrid broker that supports real stocks and contracts-for-differences (CFDs). The latter allows you to trade stocks with leverage of up to 5x. This turns a $1,000 balance into $5,000 worth of trading capital. Libertex CFDs support long and short positions, and commissions cost just 0.003% per slide. Alternatively, you can invest in real stocks at 0% commission without leverage or short-selling tools. Most stocks on Libertex are US-based, although there’s also support for limited European and Canadian companies. Libertex offers a user-friendly dashboard that’s available online or via its iOS/Android app. Libertex also supports third-party platforms, including MT4 and MT5. In addition to stocks, you’ll also find commodities, forex, bonds, and cryptocurrencies. Libertex is an established stock broker; it was launched in 1997 and is used by over three million investors. That said, Libertex has a TrustPilot score of just 4.1/5 , which could be improved. No. Stocks How to Pick the Right Brokerage Account Investors should do their homework when researching online stock brokers. Consider important metrics like fees, safety, supported stock exchanges, and customer support. We’ll now discuss what factors need to be considered when choosing the right brokerage account in 2023. Regulation and Safety: The safety of your investment capital and securities is the most important factor. US clients should only consider brokers that are regulated by FINRA and covered by the SIPC. In the event of a brokerage failure, the SIPC covers investors up to $500,000 . Non-US clients should look for similar protections. For instance, UK clients should only use brokers approved by the FCA and protected by the FSCS. Range of Stocks: Diversification is a sensible strategy when investing in stocks, so choose a broker that supports a wide range of markets. For example, XTB supports thousands of stocks from 16 global exchanges. In contrast, other than a small selection of ADRs, Robinhood only offers US-listed stocks. To diversify further, choose an online stock broker that also offers other assets, such as ETFs, mutual funds, bonds, and commodities. Fees: The best stock brokers offer 0% commission trading on US-listed companies. eToro goes one step further by offering commission-free trading on international markets, including the UK, Hong Kong, and Germany. You should also consider spreads, margin rates, and ongoing account fees. Deposit and withdrawal fees are also charged by some brokers, so be sure to check this before proceeding. Tools and Analysis: It’s wise to choose an online broker that offers adequate tools and features for your financial goals. For example, eToro offers managed smart portfolios and copy trading. These tools appeal to investors who want to trade stocks passively. Hands-on investors should look for brokers offering pricing charts, financial news, technical indicators, and stock screeners. Minimum Deposit: Most online brokers have either reduced or completely removed their minimum account requirements. For example, there is no minimum deposit threshold at XTB, Interactive Brokers, TD Ameritrade, Charles Schwab, or Fidelity. That said, specialist accounts – such as those linked to margin trading or managed portfolios, typically come with much higher minimums. Demo Account: Another must-have tool when trading stocks as a beginner is a demo account. Otherwise referred to as ‘paper trading’ or ‘trading simulators’, demo accounts allow you to buy and sell stocks risk-free. Pricing data will mirror live market conditions in real-time, allowing you to craft a strategy without risking any trading capital. Just remember that some demo accounts come with a time limit. Mobile App: The future of online investing is mobile trading, so make sure you choose a broker that offers a mobile app. In doing so, you can buy and sell stocks even when you’re away from your primary desktop device. The mobile app should offer a solid user experience; check Google Play or the App Store for reviews from other customers. We prefer investing apps that offer full functionality, meaning the same features as the desktop version. Payment Methods: The best brokerage accounts for stock trading support local banking methods, such as domestic wires and ACH. That said, the likes of XTB, eToro, and AvaTrade also support debit/credit cards and e-wallets. This makes it a lot more convenient to deposit and withdraw funds. Some payment methods can attract additional fees and account minimums, so do bear this in mind. Customer Service: The best online stock brokers offer an excellent customer experience, meaning accessible and responsive support. This usually comes via a live chat button. Most brokers offer 24/5 support, although some extend this to 24/7. Waiting times should be kept to a minimum when using chat live. Our Methodology for Testing Stock Market Brokers The best online stock brokers are regulated institutions that cater to retail clients. Investors should expect zero commissions, competitive spreads, and low account minimums. There are hundreds of online brokers in the market. Oftentimes, it’s challenging to separate one broker from the next, so we developed a meticulous methodology. We began the research process by shortlisting reputable brokers based on regulatory status and consumer protections. For example, SIPC and FSCS protections for US and UK clients, respectively. Next, we examined the pricing structure for each shortlisted broker, covering a wide range of data points. This includes commissions for domestic and international trades, spreads, deposits/withdrawals, and margin facilities. Preference was also given to online stock brokers offering fractional ownership. This ensures that traders of all budgets can invest in the stock market. Once the fundamentals were covered, we then ranked brokers based on additional tools, features, and services. This included everything from the investment dashboard, technical indicators, and pricing charts to research reports, copy trading, and managed portfolios. In addition, we also explored supported stock exchanges, with priority given to brokers offering a broad range of markets. This ensures that investors can create a diversified portfolio from a single brokerage account. Ultimately, while this criteria list enabled us to rank the 10 best online stock brokers for this guide – independent research is advisable. Conclusion In summary, choosing the right stock broker is an important task. Overall, we rate XTB as the best option for beginners. More than 2,800 stocks can be traded at 0% commission, covering 16 global exchanges. There is no minimum account balance and stocks can be traded from just €10. Who is the best stock broker? We found that XTB is the overall best stock broker. Thousands of 0% commission stocks are supported from 16 global exchanges. How do I choose a good stock broker? To choose the right stock broker for you, explore factors such as supported markets, fees, trading tools, minimum deposit requirements, and safety. What is the safest online broker? One of the safest stock brokers online is eToro; it’s regulated by FINRA, FCA, CySEC, and FCA. Where can I buy stocks online? You’ll need a brokerage account to buy stocks online. Some of the best online stock brokers include XTB, eToro, Robinhood, and Interactive Brokers. How much money do I need to invest in stocks? The top online stock brokers support fractional shares, often at a minimum of just $1. This means you can buy small slices of each company. Who is the cheapest broker for stocks? Cheap stock brokers like XTB and eToro offer 0% commission trading on US and international markets. These brokers also offer fee-free USD payments. Can I buy stocks without a broker? With the odd exception like Starbucks and Coca-Cola, the vast majority of stocks need to be bought from a brokerage account.