Choosing the best US trading platforms for your specific requirements is important and something that you should not leave to chance. That said, the sheer volume of the best trading apps in the US is a little overwhelming and can make picking the right one for you that much harder.
That’s why, I’ve done all the leg work for you, and have sifted, screened and scrutinized all the information to select the best trading platforms in the US to match your immediate needs as an investor.
Also consider: Which shares to buy now
Top trading platforms for March 2023
Browse the top trading platforms for US investors below, before I go into more detail further down this guide.
Best trading platforms at a glance
Trading Platform of the Month
eToro
- Best for low-cost trading
- Minimum deposit $10
- 0% commission trading stocks
Interactive Brokers
- Extensive range of tradeable assets
- Excellent analysis tools
- Secure platform with two-step and biometric login
Capital at risk.
TD Ameritrade
- Detailed educational section and learning pathways
- Intuitive mobile experience
- Wide range of trading platforms and investment selections
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Fidelity
- Customizable news feed keeps you in the loop
- Huge choice of tools and research providers
- Commission-free US stocks and ETFs
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Robinhood
- Well rated mobile platform and strong user experience
- Robust and useful search functionality
- Fast and easy set and signup
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Ally Invest
- Fee-free banking and investing
- Great choice for active traders
- Tools and research functionality
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Webull
- Low trading fees
- Secure platform with two-step login
- Nice mix of different order types
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Charles Schwab
- Free stock and ETF trading
- Ability to add external accounts to the platform
- Great user experience with customer support and resources
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Merrill Edge
- Smooth and intuitive user experience
- Low trading fees
- Great choice for long-term investors
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Tasty Works
- A huge selection of options tools
- Comprehensive charts for easy risk analysis
- Library packed with resources
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Zacks Trade
- Attractive low fees
- Top class customer service experience
- User friendly and intuitive Client Portal platform
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
Thinkorswim
- Extremely well-regarded trading app
- Top-tier charting and analysis
- Insured and part of the TD Ameritrade family
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Capital at risk.
A trading platform is basically a neat bit of software that allows you to buy and sell stocks through an online broker. Trading platforms have opened up the world of trading to everyone in the US and across the globe, regardless of wealth or knowledge.
So, if you’ve had your eye on AstraZeneca stock or would like a piece of the Tesla pie, then an online trading platform could be just the ticket. It’s surprisingly easy to start buying and selling stock online in the US, though that does not mean you will necessarily be raking in a profit.
However, the best trading platforms in the US have a wealth of tools and features at your disposal to help you make a success of it and with fees that are a far cry from traditional brokers charge, more and more people, from beginners to seasoned traders, are turning to online trading platforms for their investment journey.
Trading platforms reviewed in more detail
Below you will find more information on the best trading platforms with links to individual broker platform reviews.
Best trading platform for beginners: eToro
eToro is a great option for traders looking for low cost and unlimited trades. eToro is also a favorite amongst beginner traders and they have a massive range of financial products to choose from. One of the features I really liked was the ability to take part in social trading and copy trading, a strategy which allows you to mirror the trading activities of successful traders.
This can provide invaluable guidance for beginner traders with less confidence, however eToro also has a massive incentive for experienced traders as their Popular Investor Program rewards successful traders for allowing others to copy their positions with monthly payments that can add up to significant amounts. This means that regardless of whether you are a pro trader or a complete novice, eToro offers plenty of incentives and is one of the most cost effective platforms.
eToro also offers their traders a Demo Account with $100,000 of virtual cash with which to build a virtual portfolio without risking any of your own money.
The technical analysis tools at eToro are also worth a mention with analyst recommendations and market sentiment indicators both available on the eToro and app and eToro web platform.
Pros
- Low Cost
- Great Interface
- Copy trading capabilities
- Virtual Account
Cons
- Withdrawal fees
- High Forex fees
- Limited Education
eToro fees
| Frequent Trader:: | $0 |
| Investment Trusts Fee: | $0 |
| Phone Dealing Fee: | N/A |
eToro offers just two accounts:
- Demo Account
- General Investment Account
Investment options at eToro include:
- CFDs*
- Forex
- Real Stocks
- EFTs
- Cryptocurrencies
*CFDs are complex instruments and 67% of retail investor accounts lose money when trading CFDs with eToro.
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Best trading platform for frequent traders: Interactive Brokers
Interactive Brokers, does what it says on the tin and provides a great tool for proactive investors who are looking to be ahead of the curve. The app provides access to 135 market centers in 33 countries and thanks to its low per-share pricing, is almost tailor made for frequent traders.
Consistently rated as among the best apps for low cost and trading categories the Interactive Brokers app provides an advanced trading platform that excels thanks to its excellent technical and fundamental analysis tools.
Pros
- Big choice of investments
- Packed with tools and research functions
- Over 17,000 no-transaction-fee mutual funds
Cons
- Can be daunting for new traders
- No backtesting of custom trading algorithms or automated trading
- Complicated pricing model
Robinhood Fees
| Account Fees: | $0 |
| Trade Fees: | $0 |
But as mentioned the pricing model is complicated, though not unfair, and should be best checked out in detail.
Interactive Brokers offer the following different account types; individual and joint taxable accounts, trusts, individual retirement accounts (IRAs), and custodian accounts (UGMA & UTMA).
Interactive Brokers has a wide range of investment options including stocks, options, futures, forex, bonds, and funds.
Best overall trading platform: Thinkorswim
Thinkorswim is perhaps the best trading app and platform in the US, especially for active traders. Crammed with useful features and tools, this trading platform lets you make informed decisions and trades easily.
Founded in 1999 and acquired by TD Ameritrade in 2009, the thinkorswim mobile app is an all-in-one platform for trading stocks, options, ETFs, bonds, futures, and futures options. You will need to open a TD Ameritrade account to sign-up, but signing-up is easy and in minutes you can be trading.
Pros
- Great choice for active traders
- Wide range of useful tools
- Low cost
Cons
- Not very beginner friendly
- User app reviews not the best
- Program slow to launch
Thinkorswim fees
| Platform fee: | 0 |
| Data fee: | 0 |
| trade minimums: | 0 |
$0 commissions on online stock, ETF, and option trades.
To open a thinkorswim account you will need to first register with TD Ameritrade.
thinkorswim offers several investment options including; U.S. equities, options, and Exchange Traded Funds (ETFs).
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Best trading platform for tools and research: Fidelity
Fidelity really looks after beginners, with a clean, easy to use mobile experience and a plethora of assets, tools, and experts on hand. The educational offering from Fidelity is almost unrivalled with an abundance of freely available third-party research always on hand.
Fidelity offers an extensive range of funds, ETFs and shares, however, and an attractive pricing structure helps seal the deal. The Fidelity platform is consistently rated as one of the best in the US and with its well-rounded offering is a good fit for investors of all experience levels.
Pros
- Great range of products
- No platform fee
- User friendly, fully functional mobile app
Cons
- No futures, commodities, or crypto trading
- No streaming news or data on the web platform
- High broker-assisted trading fees
Fidelity fees
Transparent and easy pricing model.
| stock or options trade: | $0 plus $0.65 per contract on options |
ETFs
| Per trade for all ETFs: | $0 |
Bonds & CDs
| Per bond or CD in secondary trading and free for US Treasuries traded online | $0 |
The potential to save an average of $15 per bond
Mutual Funds
Zero expense ratio index mutual funds
Fidelity® ZERO Total Market Index Fund
Fidelity® ZERO International Index Fund
Fidelity® ZERO Extended Market Index Fund
Fidelity® ZERO Large Cap Index Fund
No minimums to invest – Fidelity mutual funds
$0 for Fidelity funds and hundreds of other funds with no transaction fees
Fidelity offers the following accounts:
- Brokerage Account
- Cash Management Account
- Brokerage and Cash Management Account
- The Fidelity Account for Business
- Stocks.
- Fractional shares.
- Bonds.
- Mutual funds.
- ETFs.
- Options.
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Best trading platform for investing in funds: TD Ameritrade
Intuitive and easy to use the TD Ameritrade app caters to the needs of new traders and experienced day traders taking positions in a variety of asset classes. This really is a one-stop solution for investors, with a great range of platforms and investment selections for all types of investors and traders.
The wide range of trading platforms available make the TD Ameritrade app a great choice for both passive hands-off and long-term style investors, as well as active day-traders looking at the short-term.
Pros
- Great choice for a wide range of investors
- Well designed app and browser experience
- A wealth of educational resources on hand
Cons
- Not the most cost-effective solution available
TD Ameritrade fees
| Platform Fees: | $0 |
| Data Fee: | $0 |
Other transactions incur fees and this means that the platform can be slightly more expensive than some of its rivals.
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Best trading platform for ease of use: Robinhood
An industry pioneer and innovator, Robinhood burst onto the scene in 2013 and may be a bit long in the tooth now, but is still one of the most user-friendly experiences out there. Signing up and set-up is a breeze and thanks to its great UI (user interface) you will be making your first trades in minutes.
Even though its product offering may be a bit smaller, this focus helps ensure a much more intuitive interface and helps beginners get to grips with trading fast. Thanks to its cash management features users can earn up to .30% APY, and a recurring investment tool enables you to automatically invest a fixed dollar amount periodically, such as once per month.
Pros
- Very quick to open an account
- Trading platform is easy to use
Cons
- Limited investments on offer
Robinhood Fees
| Trading Fees: | $0 |
| Equity trades: | Commission free |
| Option trades: | No fees |
| Robinhood Gold Subscription: | $5 per month |
| Margin Usage above $1000: | 2.5% interest |
| Account transfer fee: | $75 |
| Check fee: | $20 to send a domestic check overnight |
- Robinhood Instant
- Robinhood Gold
- Robinhood Cash
Robinhood offers stocks, ETFs, options, and cryptocurrency trading.
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
Best trading platform for low cost trading: Ally Invest
Ally Invest is another provider that offers no commission fees on U.S.-listed stocks, ETFs, or options, plus no account minimums to get started. A great offering for those wanting to dip their toes into the world of online and mobile trading. The pricing models are user friendly and with no minimum needed to open an account, no fines or penalties for account limits, and you may be eligible for up to $3,000 bonus cash when you open an Ally Invest Self-Directed account. It really is a great package.
What I liked about the Ally Invest trading platform is its 24/7 live customer service with brokers and this focus on a great user experience really helps set Ally Invest apart.
Pros
- Zero commission fee
- Easy to use mobile app
- $0 minimum deposit for Self-Directed Trading
Cons
- Robo Portfolios require a $100 minimum deposit
- Mutual funds may require transaction fee
Ally fees
| Minimum deposit and balance requirements: | vary depending on the Ally investment vehicle you select |
| Advisory Fee: | $0 |
Additional fees and minimums may apply for other securities like bonds, mutual funds, margin accounts and forex trading.
- Self-Directed Trading
- Robo Portfolios
- Wealth Management
Ally Invest provides trading in US-listed equities, ETFs, options, mutual funds, and fixed income products including US Treasuries, CDs, and corporate, municipal, and agency bonds.
We can’t take you to this site at the moment.
Have you tried eToro?
Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit etoro.com/trading/fees.
How I’ve chosen this list of best trading platforms in the US
I have spent hours researching in order to identify the trading platforms in the US that I believe will best meet your needs as an investor. To clarify how I have gone about this process, here are some of the factors that I have taken into consideration:
Fees and Charges
Custody fee – This is the fee that you pay to the platform for taking care of and managing your investments. This fee is a major consideration as small costs can really start to erode your investment gains.
Cost per trade – This is the fee you will pay every time you buy or sell stocks and shares. Some platforms have zero trading fees which is great, however, you need to weigh up whether they are providing you with all the other features you require from a trading platform.
Frequent trader – some trading platforms US will reward you for trading more frequently with a reduced fee. This is only relevant if you feel you would be trading more than a certain amount of times each month. Otherwise you will need to pay the cost per trade fee.
Investment trusts fee – Investment trusts allow you to pool your money together with other investors into a ‘trust’. The trust manager will then use these pooled assets to invest in shares and financial assets on your behalf. The charge for an investment trust is usually based on a percentage of the amount of money you put into the trust.
Ease of Use
Trading can be pretty complex at times and the design and usability of the platform you choose can have an impact on how efficient you are at managing your portfolio. For that reason I assessed each US trading platform to identify which ones will allow you to make quick, accurate trades in an online environment and help instil a sense of confidence.
Market Research and Education
This section is especially important for beginners who are going to need to do a lot of research and gain an education in trading in order to help them learn the tricks of the trade and help them in making profitable decisions regarding their investments. Webinars, blogs, videos, seminars and tracking options are all important educational tools to help beginners get up to speed.
Investment Choice
This will be especially important for experienced traders who are creating a highly diversified portfolio. Having a broad spectrum of global investment options including stocks, ETFs, index funds, trusts etc. from various stock markets, is what seasoned investors have come to expect. Of course this can be overwhelming for novice investors who may prefer to invest in a pre-made portfolio or engage in copy trading.
Accounts on Offer
This is an important consideration in order to ensure you are being as efficient as possible with your investing. If you are between the ages of 18 and 40 and saving for your first home, then the most efficient account would be an IRA as this is a great way of making sure you have money in your pocket once you retire.
Safety
Here at Investing Reviews, we always ensure that the trading platforms US we recommend meet minimum safety standards. This includes being authorized and regulated by the relevant US regulatory bodies as well as adequate security and protection of data within the site or app. Some apps also utilize biometric identification and many of the providers listed above are covered by the Federal Deposit Insurance Corporation which offers protection for your account deposit should the provider go out of business.
Demo Account
If you would like to practice trading before you risk any of your money then you may be best to select a trading platform US that provides its users with a demo account. A demo account will give you a certain amount of ‘virtual money’ with which to trade on the stock market. These are useful tools to help you get to grips with the setup of the trading platform US and to familiarize yourself with the various assets on offer.
- Read our eToro Review to see if it's the right broker for you.
- Read our new IBKR Review to see if it's the right broker for you.
