Purchasing stocks on the internet is more accessible than ever due to the best online investment platforms that allow you to make your money work for you.
Below is a more in-depth look at my 10 brokerage apps (investment platforms) that meet all the required income levels, investment goals, and stock market experience.
Charles Schwab is a simple platform that has plenty of trading opportunities for all types of investments. It is a good choice, especially for starters. There are no fees and no minimum balances, but it has a lot of resources that can educate you and keep you in the loop of the stock world in general and your investments in particular.
The service also has many research tools and a no-charge robo-adviser that all work together to provide you with the chance to be guided and make your own informed decisions. Thus making it the first on my list of the best online investment platforms.
- There are no fees or minimum balance requirements
- It has comprehensive research tools
- Has a no-charge robo-advisor
- No automatic cash sweeps
- Limited and basic ETF screener on the website
- Almost all derivatives tools are on StreetSmart Edge
This platform offers amazing research tools for investors and an excellent array of mutual funds to pick from. Its user tools include calculators, a robo-advisor option, and the Retirement Score tool that enables you to set, track, and meet your retirement goals.
Its customer service is wonderful too, which is essential for the long-term investors and those who are interested in making adjustments as they go.
- Zero trade and account fees
- More than 3,000 mutual funds
- There is also a Retirement Score tool
- Customers may have to use multiple platforms to utilize preferred tools
- Non-U.S. citizens or residents cannot open an account
- Customers must manually refresh the data on the website
- No commodities or options on futures
3. Merrill Edge
Merrill Edge takes care of all its bases with credible third-party research, a modern app, and reliable customer service. Operating under its parent company Bank of America, Merrill gives you a rich yet accessible portal into trading that is appealing to both experienced and casual traders.
Those who do business with Bank of America will find Merrill to be a natural fit. They will also see why it is one of the best online investment platforms in the United States.
- It has a seamless service for Bank of America customers
- There are zero commissions
- It has a zero account minimum
- Relatively high options fees and margin interest
- Online options spreads are limited to two legs
- No futures, futures options, or cryptocurrency trading
This company is a great example of what investors can achieve with the correct research tools. This platform gives members equity social, equity metrics, equity reports, social comparisons, and metrics, including ETF and mutual fund reports.
TD Ameritrade’s social trends signals include brand-relevant tweets and most tweeted brands, and its peer comparison charts are features that you won’t see anywhere else.
- There are zero fees for stocks and ETFs
- No account minimum for DIY portfolios
- It provides extensive research tools
- Users may have to use more than one trading system to locate all the tools they want to use
- The website is filled with content and tools which makes finding a particular item is difficult
- There have been many reports of website and platform outages
This platform does it one better through factoring in all of your different financial signals and picking the best trade options for you. It even includes taxes!
- A leading robo-advisor platform
- No account minimum
- It’s excellent for beginners
- It does not provide direct indexing
- There are no provide margin lending, secured loans, or borrowing options against your portfolio.
Fundrise allows those of all income levels to enter the real estate investment game with REITs on private commercial and residential properties. The easy and accessible platform invites non-accredited investors to hop into real-estate investing with low minimums.
Although it is not ideal for everyone, Fundrise is a one of the best online investment platforms for those without extravagant funds to get a taste of real estate investments.
- It invests in real estate with low minimums
- Open to non-accredited investors
- Easy-to-use platform
- The investments are not liquid
- It has a complex fee schedule
- Not for short-term investments
This company is still a little guy in the industry, but it also enables the little guys to get a foot up in this field. Offering free management for college students, Acorns takes your savings and invests them in the most practical and profitable means available for your financial situation.
Acorn has in-depth educational materials and resources such as terminology dictionaries, helpful videos, and trading materials that explain what actions you can take and why or when to take them. Therefore, college students will see why I picked this company as one of the best online investment platforms in the industry.
- It is excellent for college students
- It is a helpful l “spare change” savings tool
- Small investment portfolio.
- It charges a high fee on small account balances
This service has an amazing mobile app for beginners. The app has cool explanations, works with many devices like Apple Watch, sends real-time alerts, and has CNBC on demand.
Etrade gives commission-free stock and over 4,000 mutual funds.
- There is a zero account minimum
- No trade fees
- More than 4,000 mutual funds
- Its per-contract options commissions are linked with higher fees for less frequent traders
- No direct international trading or data
- No consolidation of outside accounts for a complete financial analysis
Wealthfront, a really different choice, gives free wealth management up to $10,000 and only charges 0.25% per year after that. This service deals with “passive investing” and uses technology-driven auto-investing for long-term growth, making it a choice best geared towards millennials and tech-savvy, lower-commitment users.
It has some other factors that differentiate it from the competition, including Self-Driving Money tools. Because of Wealthfront’s different approach, it’s advisable to look into it carefully before deciding if it’s the best choice for you.
- It focuses on low-cost index funds
- Tech-driven auto investing platform
- Free wealth management
- No online chat
- It has no excess SIPC insurance.
- All accounts under $100,000 are not customizable beyond risk settings.
- Larger portfolios may contain more expensive mutual funds.
This is a totally free platform, but you’re definitely not getting some of the quality that comes from services that charge. You’ll have to settle for fewer investment options, significantly lesser research and educational options, and trading tools. Those interested in trading cryptocurrency, however, can use Robinhood to fill a niche that the larger platforms haven’t explored yet.
- It is one of the first free platforms
- It has cryptocurrency trading options
- It does not have retirement accounts.
- No mutual funds or bonds.
- Limited customer support.
Frequently Asked Questions
1. How to find an online investment platform that helps you to invest smarter
Choosing an online investment platform is not a choice you should take lightly. As any good investor understands, the right platform can help you make a substantial profit, make intelligent trade decisions, and save you from devastating choices that lead to huge losses.
Therefore, what’s is a good quality investment application? In this guide, I give you some of the key factors that a service needs in order to be seen as a top-quality online investment platform. So have a good look and understand a few things about buying stocks online.
This is perhaps the biggest deciding factor because the trade options a service provides will show how much flexibility and availability you’re allowed in the sphere of trading. Investment options include IRA, mutual funds, exchange-traded funds, stocks, bonds, international investing, and others, and not all companies will offer each of these categories.
Research and Education
Whether or not you are a guru in trading in the stock market, you must make your research. In fact, the more you learn, the more you get to understand that understanding the common trends, social signals, and market fluctuations are important to making excellent trade decisions.
The amount of quality research an investment app offers and helps you with will make the difference between smart trading decisions and anything other than that. Since this will heavily have an impact on your overall investment life, investors should put a lot of time and effort into the research factor of an investment company.
For a lot of people, trading is not an enjoyable hobby, and they’re happier with the less they have to deal with their options. That’s why a lot of digital investment platforms have automation tools that will take handle the trading, analysis, and distribution without any effort from a human being (most especially, the account owner).
Robots will make calculations, corrections, and decisions based on the market trends, social signals, and other indications that are selected when you register for an account. Automation is the best feature for anyone who isn’t knowledgeable about the stock market or doesn’t want to participate in the behind-the-scenes aspects of the business.
Customer service is essential for almost all the software you buy, but it is very necessary for an investment platform that could impact your financial life. After all, if you don’t know what a feature on your photo editing app does, or your video streaming site stops temporarily, too much damage may not be done.
However, this isn’t the case with an online investment platform. Even a second’s stop in the system can have huge consequences that could mean huge money losses or missed trading opportunities. This is why a good customer service staff is crucial.
Mobile app and ease of use
An excellent mobile app is a miracle for active traders. If you’re into trading once in a while, it may not be that essential to you. For investors who always deal with their investments, though, mobility is important.
The easier it is to use a system, the more people will love their experience with the app. This is why ease of use is a very important feature. Various platforms will have different ways of making the user have a smoother and more pleasant experience, presenting a variety of features, tools, and design layouts to make this possible.
Tools are also necessary when trading is involved, so put these into consideration. It’s also great when the platform has more than one trading platform to cater to the different types and levels of investors out there.
2. Do you have to pay taxes on the profit from investment platforms?
Of course, you’re required to pay taxes on the profits gotten from the investments in most countries. Therefore the best option for you is to research the laws abiding in your country or you can hire someone to help you out.
Whether you’re a novice in investing or you’re looking to diversify your portfolio, the best online investment platforms mentioned above offer different ways to invest more intelligently and maybe venture into new markets.
Technology enables you to keep closer tabs on your investments, transfer money, and stay educated so that you can make the best choices possible and earn more.
Therefore, if you want a simple trading platform with lots of trading opportunities for all investment types, go for Charles Schwab. But if you’re interested in a platform with amazing research tools for investors, the right option is Fidelity.
Also, if you want a platform that has made lots of research for its investors, you should check out Merrill Edge. And if you’re looking for a free platform where you can equally trade in cryptocurrency, then you should choose Robinhood. Finally, if you want a platform that will provide you with the latest trends, the best option is Ameritrade.