Best Online Brokers and Trading Platforms for April 2024
Anthony Battle is a CERTIFIED FINANCIAL PLANNER™ professional. He has earned multiple designations, including the Chartered Financial Consultant® for advanced financial planning, the Chartered Life Underwriter® for advanced insurance specialization, the Accredited Financial Counselor® for Financial Counseling, and the Retirement Income Certified Professional® and Certified Retirement Counselor designations for advanced retirement planning.
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The top brokerage platforms offer excellent customer support, comprehensive research and analytical tools, a wide range of investment options, various types of investment accounts, and more. They also have transparent fee structures and avoid excessive gamification tactics.
After conducting extensive research, analyzing data, and testing broker platforms, we have determined that Fidelity Investments is the best overall online brokerage platform for investors. It stands out for its low fees, extensive product offerings, comprehensive features, and more. Fidelity is one of the 26 online brokers we evaluated based on 89 criteria, including available assets, account services, user experience, and additional features.
Best Online Brokerage Accounts and Trading Platforms of 2024
Best Overall: Fidelity
Best for Low Costs: Fidelity
Best for Beginners: Charles Schwab
Best for Advanced Traders: Interactive Brokers
Best for ETFs: Fidelity
Best for Options Trading: tastytrade
Best for International Trading: Interactive Brokers
Best for Mobile Investing & Trading: E*TRADE
Best for Cryptocurrency Trading: eToro
Best for Risk Management: Interactive Brokers
Best for Cash Management:
- Fidelity’s dedication to enhancing its financial products and services has been evident since Investopedia began evaluating online brokerages in 2019. During our 2024 product demonstration, we were impressed by the advancements in financial advisor support, bond liquidity analysis, and the introduction of the Fidelity Youth app. Notably, among the 38.7 million brokerage accounts serviced by Fidelity, a significant 43% were opened by investors aged 18 to 35.
- However, Fidelity’s commitment to improvement extends beyond these highlights. The introduction of a comprehensive cash management product with a wide range of banking features further solidifies Fidelity’s position as an industry leader. Additionally, Fidelity’s reputation as a broker with exceptional customer service, boasting 200 customer centers, reinforces its status as a low-cost, high-value option known for reducing fees.
- For investors seeking an online broker that prioritizes affordability, offers powerful industry tools, and avoids the common practice of collecting payment for order flow (PFOF), Fidelity stands out as an exceptional choice.
