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Best Online Brokers and Trading Platforms for November 2024

Review Updated
Brendan Byrnes
Cole Tretheway

Our Brokerage Experts

Nathan Alderman
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Opening an online brokerage account is easy: With most online stock brokers, you can sign up and start investing in minutes. But don't just sign up with any stock broker. The best stock brokers can save you hundreds of dollars by offering low or $0 fees. Often, these brokers offer additional services like financial advice, research tools, or high APY accounts for uninvested cash.

After hundreds of hours of reviewing over 47 stock brokers (we look at commissions, fees, account types, customer service, and more) our experts came up with the below list. These are the best stock brokers we've seen. These are the brokerages we brag about to our friends at summer weddings and picnics, the trading platforms we can't get enough of. Get more info on our favorites below.

  • Our team of experts assessed 45+ trading platforms
  • We evaluate all brokerage accounts across the same 4 key criteria: user experience, cost efficiency, product variety, and support and security
  • Our brokerage ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including Yahoo! Finance, NerdWallet, Investopedia, CNN Underscored, MSNBC, USA Today, and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column.

We've highlighted a short list of online brokers below, in case you're short on time:

  • SoFi Active Investing: Exceptional brokerage for keeping all your financial accounts in one place
  • E*TRADE: Great brokerage for both active traders and long-term investors
  • Robinhood: Standout low-cost mobile investing brokerage

Our 11 Best Trading Platforms of November 2024

Broker/Advisor Best For Commissions Learn More
Award Icon 2024 Award Winner
SoFi Active Investing Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
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Best For:

Managing your finances under one roof

Commission:

$0 for stocks, $0 for options contracts

Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Public Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
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Best For:

Low and transparent fees

Commission:

$0 commissions, 1%-2% crypto markups

Learn More for Public

On Public's Secure Website.

E*TRADE Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Best For:

Charts, research, and data analysis

Commission:

Commission-free; other fees apply

Learn More for E*TRADE

On E*TRADE's Secure Website.

Robinhood Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
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Best For:

Low fees on stocks, ETFs, crypto, and options

Commission:

$0 for stocks, ETFs, and options; up to $6.99 monthly for Robinhood Gold

Learn More for Robinhood

On Robinhood's Secure Website.

Webull Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Advanced trading and analysis on mobile

Commission:

$0 per trade

Learn More for Webull

On Webull's Secure Website.

Award Icon 2024 Award Winner
Interactive Brokers Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
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Best For:

Active trading on a feature-rich platform

Commission:

As low as $0 stock trades

Learn More for Interactive Brokers

On Interactive Brokers' Secure Website.

Award Icon 2024 Award Winner
J.P. Morgan Self-Directed Investing Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Best For:

$0 commission mutual funds

Commission:

$0 per trade

Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

Award Icon 2024 Award Winner
Fidelity Offer Image
Rating image, 5.0 out of 5 stars.
5.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 5.0 out of 5 stars.
5.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Beginners learning how to invest

Commission:

$0 commission for online U.S. stock and ETF trades. No fees to buy fractional shares.

Merrill Edge® Self-Directed Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Bank of America banking customers

Commission:

$0 for online stock and ETF trades

Award Icon 2024 Award Winner
Charles Schwab Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Best For:

Low cost ETFs and index investing

Commission:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

Award Icon 2024 Award Winner
Vanguard Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
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Best For:

Low cost ETF and mutual funds

Commission:

$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)

A note from our head of product ratings, Robin Hartill
Image of reviewer

When we researched online brokers to create this list of the best online brokerages, here are a few essential features we looked for:

  • Low costs: You don't want fees and commissions taking a bite out of your investment. We believe the best online brokers don't charge exorbitant fees.
  • Variety of account types: Everyone's investment journey is different, and your investing needs can also change over time. In our opinion, the best online brokerages offer a range of account types, from custodial accounts to IRAs.
  • Customer service: Investing can be intimidating! The best online brokers offer great customer service, so there's always someone there to lend a helping hand.
Editor's Note: TD Ameritrade is transitioning to Charles Schwab

TD Ameritrade has been acquired by Charles Schwab, and the company expects all accounts to be transitioned by the end of 2024. We've removed TD Ameritrade from our best-of lists to align with this development. Here at Motley Fool Money, you can trust that we're constantly evaluating our top broker picks to bring you current recommendations.

Reviews of the best trading platforms

For all-in-one app: SoFi Active Investing

SoFi Active Investing
Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Ratings Methodology
Award Icon 2024 Award Winner

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
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Bottom Line

This brokerage is a clear standout for its well-rated mobile app and 1% IRA match. It also has unique investment offerings like IPOs, options, and fractional shares.

Fees:

$0 for stocks, $0 for options contracts

Account Minimum:

$0

Special Offer Circle with letter I in it. For new accounts: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.

Get up to $1,000 in stock when you fund a new Active Invest account.

Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

We tried it: Brittney's review of SoFi Active Investing
Image of reviewer

"My experience with SoFi Active Investing isn't extensive, but it's been positive so far. I primarily use this account for hobby investing, and I'd recommend it for folks who want to experiment with retail trading. Their experience and reputation isn't strong enough for me to put my retirement funds there. One tip I have is to look for a welcome bonus, as you can usually get a free share of stock or two."

-Brittney Myers, Writer here at Motley Fool Money, a Motley Fool service

Pros

  • $0 stock and ETF commissions
  • Low account minimum
  • High-quality mobile app
  • Commission-free options trading

Cons

  • Few account types

Why is SoFi Active Investing one of our best online stock brokers? SoFi lets you manage all your money in one place. You can trade stocks, invest for retirement, and open bank accounts without paying fees. You even get discounts for using more than one SoFi product. For example, opening a SoFi Active Investing account may get you lower APRs on personal loans.

It's easy to get started. SoFi gives you fractional investing, the power to buy fractions of companies. For example, you can buy some Apple stock for as little as $1. This way, you can decide how much money to invest without worrying about the share price.

Other nifty perks like mutual funds trading and IPO access make SoFi worth a look. Check it out if you want to do all your money management in one place, at great prices.

What it looks like:

A screenshot of the SoFi Invest desktop platform.

For low and transparent fees: Public

Public
Learn More for Public

On Public's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
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Bottom Line

Public combines low fees for trading stock, bonds, and more, with a transparent pricing model that avoids payment for order flow. All the fees are upfront, nothing is hidden, and you get access to uncommon investment types for cheap.

Fees:

$0 commissions, 1%-2% crypto markups

Account Minimum:

$1

Learn More for Public

On Public's Secure Website.

Pros

  • Transparent and affordable pricing
  • Many investment choices
  • Fractional shares

Cons

  • No IRAs
  • No mutual funds

Why is Public one of our best online stock brokers? Public is the red pill to brokers like Robinhood, which make money off of payment for order flow (PFOF). Instead of using PFOF, Public charges customers up front, doing away with any uncertainty about price execution.

Public offers a ton of investment types relative to similar apps. Common investments like stocks and ETFs are available to you, but so are bonds, options, OTC stocks, and cryptocurrencies. It's all transparently and affordably priced.

Plus, you can start small. Public offers fractional shares of stocks and bonds, so you can get started at any price point -- perfect for beginners new to investing. Public is worth a look.

What it looks like:

Screenshot of Public desktop main screen.

For deep data analysis: E*TRADE

E*TRADE
Learn More for E*TRADE

On E*TRADE's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

E*TRADE offers low fees and tons of account types. If you need it, chances are, E*TRADE has it. You can access advanced features through its popular Power E*TRADE platform. Open an E*TRADE account to trade fee-free mutual funds and do all your investing in one place.

Fees:

Commission-free; other fees apply

Account Minimum:

$0

Special Offer Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, depending on the size of your deposit. Offer good for one use per customer, on a single account.

Open and fund and get up to $1,000

Learn More for E*TRADE

On E*TRADE's Secure Website.

We tried it: Kathryn's review of E*TRADE
Image of reviewer

"E*TRADE is a powerful platform that's easy to use, especially for someone new to investing like myself. I've run into errors when connecting my external accounts with other brokers, but E*TRADE made it simple to open and fund a new account. The homepage gives me a comprehensive overview of my accounts while providing a real-time look at the market (although the index looks to be only slightly behind)."

-Kathryn Mallari, SEO Content Strategist here at Motley Fool Money, a Motley Fool service

Pros

  • $0 online stock, mutual fund, and ETF commissions
  • Deep trading platform
  • No minimum deposit
  • Branch network

Cons

  • Uncompetitive margin rates
  • No international exchanges

Why is E*TRADE one of our best trading platforms brokers? E*TRADE offers a buffet of investing options. You get stocks, ETFS, options, and thousands of no-load mutual funds. Many investments, like stocks, are commission free.

If you're an investor who loves data, you'll love the analysis you can do on the platform. We're talking customizable charts with up to 16 columns, 65 different metrics to choose from, and the ability to sort and prioritize metrics that are most important to you.

Check out E*TRADE for its deep desktop and mobile platforms. We think it's one of the best online brokers for analytical, research-driven investors.

What it looks like:

A screenshot of the E*TRADE desktop platform.

For low fees: Robinhood

Robinhood
Learn More for Robinhood

On Robinhood's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
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= Poor
Bottom Line

Robinhood is a simple, low-cost brokerage with a few rare perks. What it lacks in customer service it provides in a smooth in-app experience. Without membership, you will lack research resources but still be able to trade affordably. With a membership, you can earn 3% and 1% match on IRA and taxable deposits. The app grows fast -- new perks are being released at a rapid pace.

Fees:

$0 for stocks, ETFs, and options; up to $6.99 monthly for Robinhood Gold

Account Minimum:

$0

Learn More for Robinhood

On Robinhood's Secure Website.

We tried it: Louis' review of Robinhood
Image of reviewer

"I've been using Robinhood since it launched. At the time, it was one of the only platforms to offer zero-fee trades. The platform was developed to be mobile-first, so the app is clean and easy to use. It also recently launched an IRA product, which is built in to the existing app. The account was easy to open, and since I was already familiar with the platform, it's intuitive to fund the IRA and buy stocks."

-Louis Feldsott, Data Analyst here at The Motley Fool

Pros

  • $0 commissions on stocks, ETFs, crypto, and options
  • Easy to use trading app
  • Fractional shares
  • IRA match

Cons

  • No mutual funds
  • No bonds or CDs

Why is Robinhood one of our best online brokers? Robinhood lets you do all the basics at very competitive prices. You can even trade options without paying per-contract fees, a rare perk.

Even rarer is Robinhood's IRA match. Like some employers, Robinhood will match your retirement account deposits. All members get 1% match, and Robinhood Gold subscribers get triple that. It's a unique perk that no other broker offers to this extent, and it's perfect for the self-employed.

Fractional share trading makes it easy to get started. Check out Robinhood to start trading the basics for as little as $1.

What it looks like:

A screenshot of the Robinhood desktop platform.

For advanced mobile trading: Webull

Webull
Learn More for Webull

On Webull's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Bottom Line

Webull is a standout mobile investing app. You can access advanced trading tools on desktop and mobile. Basic trades are commission-free, so it's competitive with similar apps. The mobile app offers Lite mode, a simpler interface for beginner investors. Consider opening a Webull account for its advanced toolset, more powerful than its closest competitors'.

Fees:

$0 per trade

Account Minimum:

$0

Learn More for Webull

On Webull's Secure Website.

We tried it: Sharice's review of Webull
Image of reviewer

"I've had my Webull trading account for three years and primarily did my trading using my mobile device. I love that the app allows you to check your individual account's risk level based on your investments. Trading isn't too complicated on it, but beyond the risk assessment component, it was pretty similar to other platforms I've used. It could be worthwhile for people seeking to buy OTC and fractional shares."

-Sharice Wells, Editor here at The Motley Fool

Pros

  • $0 stock and ETF commissions
  • No minimums
  • Advanced mobile platform
  • Competitive margin rates

Cons

  • No mutual funds
  • Limited account types

Why is Webull one of our best trading platforms? Webull combines nifty charts and a customizable interface with $0 commissions. Even better, it does it on a mobile app. That's uncommon. For getting fancy on your phone, Webull is tough to beat.

A standout feature is Webull's lack of options contract fees. Most online brokers charge per-contract fees for options. Webull is a rare exception.

Like many of the best trading platforms, Webull lets you trade fractional shares. Check out Webull to buy stocks and ETFs for as little as $5.

What it looks like:

A screenshot of the Webull desktop platform.

For active trading: Interactive Brokers

Interactive Brokers
Learn More for Interactive Brokers

On Interactive Brokers' Secure Website.

Ratings Methodology
Award Icon 2024 Award Winner

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

A great low-cost option for small trade volume. While the interface isn't as clean or modern as that of other brokers, it gets the job done. Interactive Brokers is also a great choice for options investors, traders, and those trading on margin.

Fees:

As low as $0 stock trades

Account Minimum:

$0

Learn More for Interactive Brokers

On Interactive Brokers' Secure Website.

We tried it: Tim's review of Interactive Brokers
Image of reviewer

"I've used Interactive Brokers for five years, as my advisor uses it to manage my SMA (Separately Managed Account -- the advisor manages the trades in this account on my behalf), and overall I think it has improved a lot in that time. I still find their two-factor authentication the most clunky of all the brokerages I use, but I think their PortfolioAnalyst feature is very good and is not something you can get elsewhere. Overall, I think it has excellent advanced features, but seems to be lacking easy access to the basics of checking on your individual positions. I'd recommend it more to advanced brokerage users."

-Tim White, Tech Leader here at Motley Fool Money, a Motley Fool service

Pros

  • Commission-free trading
  • Advanced trading platform
  • Low margin rates
  • No-transaction-fee mutual funds

Cons

  • Complicated pricing structure
  • Some research tools are paid

Why is Interactive Brokers one of our best online brokers? Interactive Brokers gives you access to stocks, ETFs, options, futures, forex, cryptocurrencies, and mutual funds in over 150 markets. That's the widest range of tradable securities on this list by far, and the most comprehensive access to global markets among our best brokers.

Interactive Brokers charges $0 commissions on stock and ETF trades, the industry standard, but where it really shines is its margin rates, which are lower than most competitors we've reviewed. This makes the trading platform an excellent choice for margin traders.

The desktop platform offers advanced charting and technical analysis tools. For those who actively trade, it's hard to beat. Check it out to choose between Lite and Pro plans, for beginners and active traders respectively.

What it looks like:

A screenshot of the Interactive Brokers desktop platform.

For mutual funds: J.P. Morgan Self-Directed Investing

J.P. Morgan Self-Directed Investing
Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

Ratings Methodology
Award Icon 2024 Award Winner

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

J.P. Morgan Investing is one of those rare brokers that charges zero transaction fees to buy and sell mutual funds. It's easy to use, even though it combines self-directed investing and an optional robo-advisory platform in one app. It's no-frills compared to other brokers, and it's most convenient for Chase customers. Pick this platform for low mutual fund fees and a no-nonsense interface.

Fees:

$0 per trade

Account Minimum:

$0

Special Offer

Earn a bonus up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account (retirement or general) with qualifying new money by 01/23/2025.

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On J.P. Morgan Self-Directed Investing's Secure Website.

Pros

  • No minimum for self-directed investing
  • $0 commissions for stocks and ETFs
  • No-transaction-fee mutual funds

Cons

  • Limited account types
  • Basic trading platform
  • Robo-advisor is uncompetitive

Why is J.P. Morgan Self-Directed Investing one of our best trading platforms? What really sets J.P. Morgan apart is its no-transaction-fee mutual fund offerings. We believe it's one of the best stock brokers because it's one of the only brokers that offers $0 commissions on all mutual funds, not just a subset of no-transaction-fee funds.

The online broker is extra convenient for Chase users. The J.P. Morgan Self-Directed Investing platform integrates into all Chase accounts, so existing Chase customers are able to sign up for an investment account right from the app.

What it looks like:

A screenshot of the J.P. Morgan Desktop Platform.

For learning how to invest: Fidelity

Ratings Methodology
Award Icon 2024 Award Winner

Our Rating:

Rating image, 5.0 out of 5 stars.
5.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Fidelity is massively popular because it works for beginners and advanced investors. You get $0 commission trades, tons of investment types, and good customer services you can meet in-person. Fidelity's research is top-notch without being overwhelming. Open an account with Fidelity to invest on an affordable platform that grows with you.

Fees:

$0 commission for online U.S. stock and ETF trades. No fees to buy fractional shares.

Account Minimum:

$0, ($1 minimum per fractional share transaction)

We tried it: Brendan's review of Fidelity
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"I've been using Fidelity for over a decade, and my experience has been excellent. I've found it to be an easy-to-use platform, has great customer service, and the fees are low or nonexistent. An underrated feature is the ability to change your core cash position to high-yielding options including a money market fund or a treasury fund. The yields on these funds are very attractive and it means you can feel comfortable keeping cash here that you're waiting to invest -- these funds currently earn a rate similar or higher than many high-yield savings account options. Note, you need to change your core cash position to one of these funds -- it is not automatic. These funds are not FDIC insured but I think they're pretty darn safe -- but if you want extra peace of mind, park your cash instead in an FDIC-insured high-yield savings account."

-Brendan Byrnes, Managing Director of Motley Fool Money, a Motley Fool service

Pros

  • Commission-free stock and ETF trades
  • Fractional share investing
  • Wide selection of mutual funds
  • Gold standard

Cons

  • Uncompetitive options per-contract fees

Why is Fidelity one of our best stock trading platforms? Fidelity has been around for decades and its reputation precedes it. Known for being the gold standard in the brokerage industry, Fidelity has millions of customers and a reliability that's undeniable.

It lets you trade many assets: stocks, ETFs, mutual funds, options, and cryptocurrency. Fidelity meets the industry standard of $0 stock and ETF commissions, but really shines with over 3,300 no-transaction-fee mutual funds, which is only the standard for a handful of brokers on this list.

Fidelity also offers more independent research than pretty much any other discount broker. Plus, it has a good amount of educational resources and offers fractional share trading. All these are important for beginner investors, who get all the good stuff in one place.

Between fees, features, and reputation, Fidelity checks all the boxes. Check out Fidelity especially if you're a beginning investor and need to learn and grow in experience on one platform.

What it looks like:

A screenshot of the Fidelity Investments platform.

For Bank of America customers: Merrill Edge® Self-Directed

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Merrill Edge® Self-Directed sports low overall fees, strong research offerings, and fantastic customer support. It's a solid option for all investors, and especially attractive for Bank of America customers.

Fees:

$0 for online stock and ETF trades

Account Minimum:

$0

We tried it: Matt's review of Merrill Edge® Self-Directed
Image of reviewer

"It's been more than seven years that I've been on the Merrill Edge platform. I chose it because Merrill was early to the game in terms of $0-commission equity investing (for Bank of America customers). I stay with it because the platform has offered everything I need for long-term investing, without extra noise or distractions. I also like how easily it integrates with my other Bank of America banking products."

-Matt Koppenheffer, General Manager here at Motley Fool Money

Pros

  • $0 stock and ETF commissions
  • National branch access
  • Preferred Rewards program

Cons

  • Basic trading platform
  • Uncompetitive margin rates

Why is Merrill Edge® Self-Directed one of our best online brokers? Merrill Edge is owned by Bank of America, which means investing in Merrill Edge gives you access to the popular Bank of America Preferred Rewards program. Plus, you can visit the many national branches of Bank of America for in-person customer support.

If you have at least $20,000 in your BoA accounts and Merrill Investment accounts combined, you can participate in the Bank of America Preferred Rewards program. It gets you rate and fee discounts for most of the bank's products (plus bonus credit card rewards!). Preferred Rewards has three tiers, and a bigger balance means better perks.

If you're a Bank of America customer, you could earn more interest and save money on other financial products with a Merrill Edge account. Check it out for bank-exclusive rewards.

What it looks like:

A screenshot of the Merrill Edge desktop platform.

For low cost funds: Charles Schwab

Ratings Methodology
Award Icon 2024 Award Winner

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Charles Schwab pioneered the low-cost brokerage model decades ago, and that legacy continues with its lineup of no-commission-fee offerings. The robust lineup of account types, investment vehicles, and high quality app round out the stacked feature set.

Fees:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

Account Minimum:

$0

We tried it: Brooklyn's review of Charles Schwab
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"I opened my Charles Schwab account as a brand-new investor who knew almost nothing about investing, and I've learned a lot through the educational resources available. While the website isn't the most modern, it's easy to use. I've spent a good amount of time using their customer service support as well as a Schwab Financial Consultant and both have been tremendously helpful. I like both the active trading experience but have also enjoyed using the robo-investing option, Schwab Intelligent Portfolios."

-Brooklyn Welch, SEO Content Strategist here at Motley Fool Money, a Motley Fool service

Pros

  • $0 commission trading
  • Many mutual funds
  • Investing and banking all in one
  • Nationwide branch network

Cons

  • Uncompetitive margin rates
  • No cryptocurrency

Why is Charles Schwab one of our best trading platforms? Schwab offers one of the largest marketplaces for low-cost ETF and index investing, including its own line of branded ETFs that rival the lowest cost options we've come across. These rival the likes of Vanguard and Fidelity.

Schwab offers a lot more than a trading platform. You can open other accounts types, such as the Charles Schwab High Yield Investor Checking account, CDs, and credit cards. For help opening or managing your Schwab accounts, you can visit one of over 300 branches.

Check out Schwab to invest in low-cost funds and use banking products under one umbrella.

What it looks like:

A screenshot of the Charles Schwab desktop platform.

For passive investing: Vanguard

Ratings Methodology
Award Icon 2024 Award Winner

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Vanguard is one of the best brokerages for passive investors who want to buy low-cost index fund ETFs. It also offers thousands of no-transaction-fee mutual funds, and excellent zero-commission options for buying stocks online, with no account minimums for brokerage accounts. Vanguard tries to keep its costs and expense ratios low so investors (like you) can keep more of your returns.

Fees:

$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)

Account Minimum:

$0

We tried it: Kimberly's review of Vanguard
Image of reviewer

"The thing I like the most about Vanguard is the brokerage's willingness to provide help and guidance. I'm not an expert when it comes to brokerages and investment accounts, and I know a lot of people are just like me. It's easy to get a knowledgeable person on the phone at Vanguard, and they walk me through every question I have. They score highly in my book for their ability to help novice investors like me who want to learn more. Also, I'm very sensitive to fees and pay zero whenever possible. Vanguard has given me all the fee-free options I've needed."

-Kimberly Rotter, Writer here at Motley Fool Money, a Motley Fool service

Pros

  • Zero-commission trading
  • Low cost ETFs and mutual fund investing
  • No account minimums
  • Many account types

Cons

  • Basic trading platform
  • Uncompetitive options fees

Why is Vanguard one of our best online brokers? Vanguard is a retirement-focused broker that's highly regarded among investors with a long-term investment philosophy.

In fact, the whole platform is optimized for buy-and-hold investors. Unlike many other brokerages on this list, Vanguard doesn't offer real-time streaming news or advanced charting tools that active investors prioritize. For investors who align with Vanguard's strategy, it's a simple and easy-to-use platform.

Where Vanguard really shines is in its mutual funds. Its own suite of Vanguard mutual funds offer some of the lowest expense ratios on the market, plus it offers thousands of no-transaction-fee funds from other firms.

The trading platform is one of the best places to invest passively. Check out Vanguard to invest at affordable prices over the long term.

What it looks like:

A screenshot of the Vanguard desktop platform.

How do I choose a stock trading platform?

Here are a few things you might want to consider when comparing trading platforms:

  • Small deposits: To invest only a few hundred dollars at first, look for brokerage firms with no minimum deposit requirements.
  • Only the basics: To simply buy and hold stocks, you probably don't need a full-featured trading platform. Most discount brokers will meet your needs.
  • Mutual funds: To buy mutual funds, you should look for the best mutual fund brokers. These brokerage accounts make it cheap to buy and sell mutual funds.
  • Bonds and options: To trade bonds or options, or to make trades over the phone, look at what brokers charge for these activities. Compare the best investment brokers on our list to help you determine which platform has the features you're looking for.

One of the fastest ways to narrow down your options is to decide (1) what account type to open and (2) what investment types you'll need ahead of time. Many investors don't need bells and whistles, which can raise prices. But if you need it, you need it, and that's important.

How to open a stock brokerage account

Opening an online brokerage account is usually quick and straightforward.

  1. Determine what type of brokerage account you need (individual, IRA, etc.).
  2. Compare brokers to find the best fit for you.
  3. Fill out the new account application. Be ready to provide identifying information, such as your Social Security number.
  4. Add funds to your account. Most brokers offer several ways to do this.
  5. Start investing!

How to get started investing in stocks

You can get started investing by opening a brokerage account, depositing money via the trading platform, and using your deposit to buy and sell stocks. Most online brokers let you open an account for free. Some require a deposit upon opening, and you can use this deposit to trade.

You can learn about stocks from brokers that offer educational articles and videos, or you can download financial literacy apps. The latter tend to offer bite-sized lessons on money. It's an easy way to learn without taking classes in-person. Plus, it's structured.

What investments can I buy on an online brokerage?

Online brokers typically let you buy stocks and ETFs. Beyond that, choices vary.

What you can buy:

  • Bonds: A bond is essentially a loan that an investor provides to a borrower, which can be a government, municipality, or corporation. They pay you fixed interest.
  • Mutual funds: A mutual fund is a type of investment that pools money from many investors to purchase a diverse portfolio of stocks, bonds, or other securities.
  • Stock options: Stock options are financial contracts that give the buyer the right, but not the obligation, to buy (call options) or sell (put options) a specific stock at a predetermined price (strike price) within a set time frame (expiration date).

Some brokers let you trade alternative investments, a catch-all category for niche categories. Investments under this umbrella might include music royalties and venture funds open to non-accredited investors.

How much money do I need to start trading stocks?

You can start trading with as little as $1. Most brokers on this list will let you open an account without depositing any money. To buy a stock, you'll need at least $1. Brokerages that offer fractional shares let you buy pieces of stocks for $1 or $5, minimum.

If your broker only offers full shares, you'll need enough deposited to buy your desired stock at full price. Stock prices range widely, from under $1 to over $1,000 per share.

Are online brokerages safe?

Yes, your online broker is safe from collapse. If your brokerage firm is a member of the Securities Investor Protection Corporation (SIPC), then cash and securities in your account are protected from loss due to broker failure, up to $500,000 ($250,000 for cash).

The SIPC doesn't cover risks like unauthorized trading activity, but most of the best brokerage accounts have fraud protection that covers you if your account is hacked. The trick is letting your brokerage know ASAP.

Your money is not insured against investments losing value. Losing money to stock values going down is a risk inherent to stock trading. Day trading is especially risky.

What is an online stock broker?

An online broker helps you buy and sell stocks. Typically, you do this through the broker's online trading platform.

You can think of an online stock broker as a direct line to stock exchanges. In exchange for a tiny commission on every trade, the broker sends your orders on to stock exchanges and market makers. These market makers do the heavy lifting of matching your buy orders with someone who wants to sell, or vice versa.

Your online broker tracks what stocks you own and at what prices you trade them. Mostly, this is done through discount brokers.

Discount brokers

Online brokerages are discount brokers. They aren't in the business of giving you advice or suggesting stock picks. Instead, discount brokers focus on the very basic service of helping you buy or sell a stock (or other type of investment) from the convenience of your own home.

Discount brokers, or online brokers, are popular because they're more affordable than full-service brokers.

Full-service brokers

Brokerage firms we label "full-service brokers" are more closely related to the stock brokers of the olden days. Full-service brokers employ human brokers who help you trade, choose mutual funds, or create a retirement plan.

Full-service brokers are costly, since people are more expensive than computers. A popular full-service broker charges at least $75 to place a stock trade, and that can jump to as high as $500 or more to buy a large amount of stock.

Other Best Broker Picks

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Our brokerage rating methodology

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See our full methodology here: Ratings Methodology

FAQs

  • Most online brokers don't charge commissions for online stock trades. However, there may be commissions for other types of investments like mutual funds and options, and brokers have their own fee schedules for various other services. The best pick for you depends on what services and investments you anticipate using the most.

  • Thanks to zero-commission online stock trading and many brokerage firms offering fractional shares, it's easier than ever to diversify your investments. If your goal is to create a diverse portfolio of individual stocks without a large upfront capital commitment, be sure the broker you choose has both of these features.

  • Yes. If your account is with a brokerage firm that is a member of the Securities Investor Protection Corporation (SIPC), cash and securities in your account are protected from loss due to broker failure, up to $500,000 ($250,000 for cash). However, your money is not insured against losses that result from declines in value of the investments in your account.

  • This depends on your goals. If you simply want the best platform to buy and sell stocks, a standard (taxable) brokerage account could be the best choice for you. If you want to save for retirement and/or reduce your taxes, a retirement account like a traditional or Roth IRA might be better. There are other specialized brokerage account types as well, and you can usually find a list of the types offered on your broker's website.

  • There's no broker that is inherently safer than all the rest, but there are some important things to look for. First, make sure your broker is covered by SIPC protection, which insures the cash and securities in your account in the event of a broker's failure. Second, make sure your broker has a fraud protection guarantee, which will make you whole in the event that someone hacks into your account and makes unauthorized trades or withdrawals.

Expert Opinions

Irena Vodenska, Ph.D., CFA

Irena Vodenska, Ph.D., CFA

Professor of Finance, Director, Finance Programs, Administrative Sciences Department, Metropolitan College, Affiliate Faculty Global Development Policy Center

What advice do you have for a first-time investor?

First-time investors could be very different, so a single piece of advice is probably not appropriate for all of them. If we assume that the first-time investor is a young professional, for example, in their first job right after school, they have a long investing horizon in front of them. Hence, they could be more aggressive in selecting a portfolio, mainly comprising domestic (U.S.), or even international equity. These young investors are in their savings part of the investment horizon and do not require short-term liquidity so that they can afford riskier investments, at least with a portion of their portfolio. Another consideration is the level of the risk-averseness for these first-time investors. Even if they have a long-term investing horizon and low liquidity requirements, first-time investors may opt for safer investments if they are very risk-averse. In that case, instead of equity (stocks), fixed income securities (bonds) will be more appropriate.

What is a common misconception about investing?

Investing is an individual choice. One of the common misconceptions about investing is that investments always have positive returns, i.e., if you invest, you will earn money at all times. This belief might be true on average, measured as a cumulative return over many years. However, the performance of an investment portfolio could be volatile, i.e., experiencing both negative and positive returns periodically. Another misconception about investing is that anyone who invests in financial markets will become rich quickly. While this might happen, it is not the norm but rather an exception. A third misconception could be that investing is trading, which is not the case. One can think of trading as short or very short-term investing; however, investing, per se, implies a long or a very long-term holding of the purchased securities, accompanied by a low-frequency rebalancing of the portfolio.

How can investors feel more confident when choosing a brokerage?

Excellent question. Investors should consider very carefully whom they will be choosing to trust with their investment decisions. There is a distinction between a brokerage and an investment advisory firm. Brokers engage in the business of effecting transactions in securities for the account of others, for which they receive compensation. When brokers recommend securities to their clients, they must ensure that the investment is "suitable" for the client. On the other hand, investment advisors advise others about investing in securities and receive compensation for the advice. When investment advisers recommend an investment to their clients, the investment needs to be in "the best interest" of the client. These differences are essential and create two different standards of conduct: 1) Suitability for brokers and, 2) Fiduciary ("best interest of the customer") for investment advisers. Investors should know the difference, and before entrusting their investments to securities professionals, they should ask whether they are a "fiduciary"? Investors can be confident if the answer is "Yes, I am a fiduciary."

Reena Aggarwal, Ph.D.

Reena Aggarwal, Ph.D.

Director, Center for Financial Markets and Policy at Georgetown University

What advice do you have for a first-time investor?

One should start investing as early as possible, even if it is with a small amount of money. The magic of compounding is real and in the long run even this small amount can grow into a large amount. You should consider how much risk you are willing to take, and risk-taking also depends on the stage of your life cycle. Generally, young investors can afford to take more risk than retired people who are counting on their savings during retirement.

What is a common misconception about investing?

A common misconception is that I can beat the market and make a quick buck. It is rare for anyone to beat the market on a consistent basis. Markets don't always keep going up; you should consider the implications of both bull and bear markets on your portfolio. It is a good idea not to put all your eggs in one basket and instead have a diversified portfolio.

What are some investing trends that new investors should be aware of?

Retail investors have become more active participants in the financial markets, particularly during COVID. There has been a lot of interest around platforms for retail investors, allocation of IPOs, and popularity of products such as special purpose acquisition companies (SPACs) and crypto products. It is important to do your due diligence before investing in any asset. Regulatory agencies such as the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) provide useful alerts and bulletins that are worth checking.

Brokerages we evaluated for consideration on this page: Acorns, Ally Invest, Axos Self-Directed Trading, Betterment, Cash App Investing, Charles Schwab, Delphia, Domain Money, Ellevest, Empower, eToro Brokerage, E*TRADE Core Portfolios, E*TRADE, Fidelity, Fidelity Cash Management, Fidelity Go®, Firstrade, FOREX.com, Interactive Brokers, J.P. Morgan Self-Directed Investing, M1 Finance, Magnifi, Marcus Invest, Merrill Edge® Self-Directed, Moomoo, NinjaTrader, Personal Capital, Plynk, Prosperi Academy, Public, Robinhood, Rocket Dollar, Schwab Intelligent Portfolios, SoFi Active Investing, SoFi Automated Investing, Stash, Stockpile, Tastytrade, Titan, Tornado App, TradeStation, Tradier, Vanguard, Vanguard Digital Advisor®, Wealthfront, Webull, Zacks Trade.