The 7 Best Online Stock Brokers For Trading: Platforms & Firms To Know (2024)

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Are you ready to start trading?

Short-term trading, unlike long-term investing, means buying and selling stocks on the same day (day trading) or within a few weeks of opening the position (swing trading). The best online stock brokers for trading are different thanthe best online stock brokers for investing.

I’m assuming you want the best broker for stock trading.

Each of the best online stock brokers for beginners has a few common criteria:

• Low commissions and fees
• Easy-to-use platform
• Low (or non-existent) minimum deposits

These criteria, along with a handful of others I’ll cover below, are the most important when choosing which online brokerage you want to use to start trading.

With that in mind, here is my list of the 6 best online stock brokers for trading.

I’ll take a look at their features, fees, and other essential factors to help you make an informed decision.

The 7 Best Online Stock Brokers for Trading

1. TradeStation: The Overall Best Online Stock Broker for Trading

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0
• Options commissions: $0.60 per contract
• Assets available: Stocks, ETFs, options, futures, crypto, bonds
• Minimum deposit: $0

TradeStationis easily the best online stock broker for trading.

TradeStationis fast,powerful, and customizable – the perfect combination for active traders.

While the number of features can be overwhelming at first, you will learn quickly how many different tools you need for a complete trading workflow.

TradeStationoffers a range of advanced trading tools including real-time market data, customizable charting, and a range of technical indicators. The platform also supports something called automated trading, which allows you to create and test your own custom trading strategies.

And if you ever want to branch out of stock trading into options, futures, or cryptocurrencies, you will already have access to each of these asset classes via your TradeStation account.

2. moomoo: The Best Online Broker for Low-Cost, Powerful Trading

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0
• Options commissions: $0 per contract
• Assets available: Stocks, ETFs, Options
• Minimum deposit: $0

moomoo is a commission-free trading platform for stocks, ETFs, and options, but that’s just the tip of the iceberg…

moomoo is a newcomer to the world of trading brokerages, but it’s quickly stealing market share from others in the space. Its powerful (and mostly free) set of features, coupled with its friendly user interface make it a top choice for traders of all skills levels.

• There is no charge for the data at level II for US brokerage account customers
• Earnings calendar and informative earnings hub
• It allows you to invest simultaneously in multiple markets
• During premarket and postmarket hours, trading is available
• There is the option of paper trading

Plus, if you use our links, you can score up to 16 free stocks. Hit the button below to get started:

3. TradeZero: The Best Online Broker for Short Selling

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0.005 per share
• Options commissions: $0.50 per contract
• Assets available: Stocks, ETFs, Options
• Minimum deposit: $200

TradeZerois a US-based online brokerage that specializes in commission-free trading for stocks and options.

The company’s focus on low-cost, high-speed trading has quickly gained it a reputation as one of the best online stock brokers for trading.

It’s one of the best online brokers for trading, but it’s especially good for short selling. Many of the best shorting opportunities are on “hard-to-borrow” stocks (stocks with low volume or trade on non-major exchanges). TradeZero’s short locator servicemakes it easy to find and short sell these companies.

It’s not the cheapest brokerage on this list (ZeroPro and ZeroWeb cost $59/month), but you get what you pay for.

4. eToro: The Best Online Stock Broker for Social Investing

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0
• Options commissions: $0 per contract
• Assets available: Stocks, ETFs, options, crypto, commodities
• Minimum deposit: $50

eTorois a solid and popular online brokerage which is best known for its unique social trading features. These features make it easy to learn from, exchange ideas with, and even copy the trades of other traders.

eToro’s CopyTraderallows users to follow and copy the trades of other traders. If you’re a beginner and are nervous about making big mistakes, this feature is particularly helpful. You can use it while you brush up on your studying and learn about the stock market, while not missing out on the trades of more experienced traders.

eToro’s user-friendly interface is easy to navigate and it offers a range of tools and features to help traders succeed. Its customizable watchlists, technical analysis tools, and range of educational resources can each make you a better trader.

eTorois an excellent choice for traders looking for a unique social trading platform with a user-friendly interface and low fees.

5. Webull: The Best Broker for Stock Trading on a Mobile App

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0
• Options commissions: $0.00 + $0.50 per contract
• Assets available: Stocks, ETFs, options, crypto
• Minimum deposit: $0

Webullis one of the best online stock brokers for trading on-the-go, well-suited for mobile traders who want to stay up-to-date on the latest market news and execute trades from their smartphones.

Most importantly, Webullmakes it easy to perform technical analysis on your phone – no need for a computer and multiple monitors.

The Webull appalso provides traders with fast and reliable market access, real-time market data, and advanced charting tools. In addition, the app allows traders to execute trades quickly and easily, with no account minimums or fees.

Webullis one of the most affordable online brokers available. The broker does not charge any commission fees for trading stocks, options, or ETFs, and it offers competitive pricing for other securities, such as cryptocurrencies, should you be so inclined.

Plus, use any of our links and get up to 12 free stocks.

6. Interactive Brokers: The Best Online Stock Broker for Advanced Traders

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0.005 per share
• Options commissions: Differs – USD 0.65/contract for Lite + Exchange
• Assets available: Stocks, ETFs, options, futures, forex, bonds, mutual funds
• Minimum deposit: $0

If you want the platform used by expert traders, check out Interactive Brokers(IBKR).

Its advanced trading platform, low fees, and extensive range of investment products, Interactive Brokersis one of the best online stock brokers for experienced traders and investors. If you need a wide range of investment products, or want to hit the market with some complex trading strategies, Interactive Brokers might be your best bet.

IBKR’s primary target is sophisticated traders with large account balances. Its interface is not the easiest to use, but you will have access to nearly every asset class, including global stock markets.

The broker also offers a range of advanced trading tools, such as algorithmic trading and smart order routing, to help traders execute complex trading strategies for those looking for an even deeper edge.

It’s the most advanced online stock broker on this list.

7. TD Ameritrade: The Best Online Stock Broker for Beginners

Overall rating: ⭐️⭐️⭐️⭐️⭐️

• Stock commissions: $0
• Options commissions: $0.65 per contract
• Assets available: Stocks, ETFs, options, futures, forex, bonds, mutual funds
• Minimum deposit: $0

If you want a full-service brokerage with a bias toward traders, TD Ameritradeis the best overall choice.

TD Ameritradeis a well-known online brokerage and is easily one of the best online stock brokers for beginners.

It has multiple trading platforms and apps which range from fairly user-friendly to fairly complex, making it one of the best online stock brokers for both beginners and experienced traders.

Plus, its full-service nature makes it great for clients who want a long-term investment portfolio alongside their active-trading portfolio. It offers a wide range of securities including stocks, options, ETFs, and mutual funds while it also has you covered on the advanced trading tools, such as conditional orders and mobile trading, to help traders execute complex trading strategies.

TD Ameritradeis also one of the best when it comes to educational resources. The broker offers a range of educational content, including webinars, video tutorials, and articles, to help traders learn about investing and trading, and to give you that competitive edge you desire. In addition, TD Ameritrade offers a range of tools to help traders build and manage their portfolios, such as a customizable watchlist and a risk management tool.

If you’re looking for a wide range of investment products, in-depth educational resources, and a stunning overall product, TD Ameritrade is probably the broker for you. And it’s easily one of the best online stock brokers for trading.

Final Word: The Best Stock Brokerage Firms for Trading

When it comes to active trading, choosing the right online stock broker can significantly impact your success.

• TradeStationis the best online stock broker for trading overall due to its powerful trading platform, low fees, and extensive range of investment products.
• TradeZerois the best online stock broker for traders who want advanced tools for short-selling.
• eTorois an excellent choice for socially-inclined traders who want to follow and copy other traders.
• Webullis the best online stock broker mobile app for trading, with an easy-to-use interface and a range of advanced features. Plus, get free stocks.
• Interactive Brokersis the best choice for experienced traders who want access to a wide range of investment products and the ability to execute complex trading strategies.
• TD Ameritradeis an excellent choice for both beginners and experienced traders who want access to a wide range of investment products and comprehensive educational resources.

And don’t forget, if you’re a new trader with less than $25,000 in your account, you will fall under the SEC’s PDT rule which prevents you from placing more than 3 day trades in a 5-day period.

The best way to get around this is by opening multiple accounts at different brokerages, which is also the best way to test which broker you like the most.

So don’t just limit yourself to 1, choose a couple of the best brokers for stock trading from the list above.

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