There are plenty of online trading platforms or brokers available. Choosing the right platform out of them can be difficult. You must know about the boxes you need to tick before choosing an online brokerage firm. The preliminary criterion is security.
Check whether the broker is well regulated or not. And other things include hidden commissions, fees, customer support, educational support, trading tools, and financial instruments.
We have summarised the five best online trading platforms based on the above criteria to make it easy for you to choose the right broker.
5 Best Online Trading Platforms
1. IronFX
IronFX is one of the best online trading platforms. It provides the best trading tools in a secure trading environment without any IronFX complaints. The brokerage firm also provides minimum fees, and there is no hidden commission. Plus, you do need to fund the minimum deposit to open your trading account with the brokerage firm.
IronFX was founded in Limassol, Cyprus in December 2010 after obtaining authorization by the CySEC. In 2013, IronFX opened an office in Australia and became regulated by the ASIC, while it also received authorization of the FCA in the UK. IronFX is also known for providing quality educational support to its clients. Along with that, it offers 24/5 multilingual support. You can open your trading account with the platform in three simple steps and wait for 2 to 3 days to use your account.
2. Robinhood
Robinhood was created to enable ordinary people to gain access to the financial markets, and it was the first company to offer zero-commission stock trading. Robinhood is well renowned for being the first to introduce the concept of no-commission stock trading. While most other leading brokers have followed suit, Robinhood’s cost structure remains competitive. In addition, flat charges on options trades are not charged.
Robinhood also has an enticing cash management account that allows customers to earn interest on their uninvested funds that fluctuate with market interest rates. Not only does Robinhood provide free stock trading via the web and app, but it also provides free options and cryptocurrency trading.
Robinhood may be a decent alternative for individuals interested in stocks, ETFs, options, and even cryptocurrency, but you’re in bad fortune if you want to invest in mutual funds or individual bonds.
3. T4Trade
T4Trade, with registered address of F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, is a trade name of Tradeco Limited.
The Group includes Damadah Holding Limited with registration number HE 324249 and registered address at 365, Agiou Andreou, Efstathiou Court, 2nd Floor, Flat 201, 3035 Limassol, Cyprus.
On T4Trade, you can choose from three distinct types of retail investor accounts: Standard, Premium, or Privilege. Clients can use the broker’s services without paying a commission. T4Trade offers competitive spreads that vary depending on the instrument.
The broker offers the top online trading software, MetaTrader4 (MT4). One of the most widely used trading systems is MT4. It is well-known for its built-in features and various transaction execution styles. The organisation does not charge a trading commission and provides excellent research and customer service.
4. eToro
Wiih over 3,000 tradeable symbols, eToro is a large global cryptocurrency exchange that offers non-U.S. customers the ability to trade forex, exchange-traded securities, and crypto. Maximum leverage of 1:500 is available to professional clients, whereas maximum leverage of 1:30 is available to retail clients. Furthermore, there are no costs for deposits or withdrawals, and trading is completely commission-free
The broker offers aggressive traders very competitive trading circumstances in a regulated environment, which has significantly grown its appeal. Clients can also access many trading videos, eBooks, tutorials, and more sources from the best-in-class learning center.
Clients get access to study and trading signals on a variety of market goods and financial instruments through Signal Centre.
5. Interactive Brokers
Interactive Brokers stands out for having the lowest potential commissions and margin rates, making it a viable stock trading option. For some people, Interactive Brokers may not be the finest online stock broker. It does, however, have a few standout characteristics that set it apart from the competition.
Its pricing is geared for investors and traders who want to minimize the cost of trading, with negligible commission trading through its IBKR Lite platform and a regular fee charge of one-half cent per share. Trader WorkStation is an extremely strong trading platform, especially considering the fact that it is completely free.
Interactive Brokers has a large number of no-fee mutual funds to choose from. It provides service by phone, live chat, or secure messaging 24 hours a day through its account center. One of Interactive Broker’s main advantages is its low margin rates.
Bottom Line
On our list of the best brokerage accounts, you’ll find a variety of free stock trading apps, educational tools, and more. Many brokers include an appropriate condition of third-party research as well as stock screeners, allowing you to look up annual fees for mutual funds or filter through your options using metrics like the PE ratio.
You generally don’t need a full-featured trading platform if you just want to buy and keep stocks. Although many of our best online stock brokers have no account minimums, a handful does. If you’re a new investor, double-check that you’ll be able to meet any minimum investment needs before choosing a broker.
