Yes, Robinhood offers commission-free stock trading. It makes its money by routing orders via third parties, which then execute them in a method known as ‘payment for order flow’. This proved highly controversial during the GameStop mania in 2021 when Robinhood was forced to restrict trading in popular stocks as a result.

9 Best Trading Platforms & Online Brokers for Beginners in 2025

Q: What is the cheapest trading platform?

eToro offers zero commission stock trading. Many platforms now offer free, or very low fee, trading, but often have higher spreads or other hidden fees. eToro offers the best balance between low fees and low spreads, which is especially ideal if you want to day trade.

Q: How do commission-free trading platforms make money?

One way is by maximizing order volume. The broker sends its orders via a particular third-party market maker in exchange for a fee. This method is called Payment For Order Flow (PFOF). Earning money in this way means that the broker can offer commission-free trades without sacrificing its potential to make money. Another option is through the bid-ask spread. This is the difference between the buy and sell price for an asset. The wider the difference between the prices, the more money the broker is making on the spread. The cheapest trading platforms tend to have wider spreads for this reason, although this isn’t always the case.

Q: Do I have to pay tax on my day trading profits?

Yes, though how much you have to pay and when the tax applies depends on where you live. In the US, a capital gains tax applies on assets you’ve held for at least a year and the three tax bands are 0%, 15%, and 20%, depending on your annual income. The IRS explains more about the capital gains tax laws in the US.

Q: Which trading platforms offer the most stocks?

Degiro has the widest range of stocks. You can buy and sell shares on 50 exchanges across 30 different countries, which gives you access to thousands of companies in total. Just note that you should be more interested in which stocks a broker offers, rather than how many. If you’re interested in a particular country or industry, focus on that rather than the total quantity available.

Q: Can I trade stocks 24/7?

Stock markets are only open for set hours on weekdays. That means you can only buy and sell stocks during regular trading hours. Each stock exchange is different, depending on where it is in the world.

Q: Should I use multiple brokers?

Using multiple brokers can be beneficial for accessing different markets, tools, or better pricing. That said, managing multiple accounts requires more oversight and can complicate your investment strategy.

Q: How can I diversify with little money?

Start with low-cost index funds or ETFs, which spread investment across many assets. These funds require minimal capital and offer broad market exposure, making diversification more accessible.

I’ve personally tested 60+ trading platforms to find the best online broker for beginners.

Written by

Reviewed by

Updated on Dec 17, 2024

Reading time 18 minutes

In this guide

Whether you’re scrolling on your phone, watching TV, even on the subway or walking down the street, there’s an online broker vying for your attention – and your money.

I don’t blame you if you don’t know where to start.

So I’ve personally reviewed and tested more than 60 trading platforms (with a little help from my friends) to help you cut through all this noise and pick a platform that’s right for you.

Pressed for time? These are my three favourite brokers for beginners and I’d vouch for any of them to get you started safely:

My top 3 trading platforms

We found 3 online brokers for users based in

4.6

eToro

Min. Deposit $100

Fees 1%

No. assets 3600+

Demo account Yes

Visit site

eToro review

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

4.4

Public

Min. Deposit $20

Fees 1-2%

No. assets 9000+

Demo account No

Visit site

Public.com review

Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

Best trading platforms

Min. Deposit n/a

Fees -

No. assets n/a

Demo account -

Visit site

If you’re still with me, great. Let’s dive in to the reasons behind each pick.

Detailed reviews of the best online brokers

We found 3 online brokers for users based in

1. eToro. Best for beginners, copy-trading & demo-account

4.5

Ratings

€100

Min. deposit

0% commission

Fees

3,600

No. assets

Yes

Demo account

Overview

We love eToro because it’s a trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.

The far-reaching catalog of more than 5,500 stocks and ETFs includes big names like Apple and Tesla, as well as smaller companies with high growth potential. You can start trading with as little as $10 using fractional shares if you’re on a tight budget.

One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. This is a great way to learn and potentially benefit from the expertise of more experienced traders.

If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across stocks, crypto, and options trading markets.

Highlights

Fees & Costs

Pros & Cons

Read review Visit eToro

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. Public. Best for AI analysis

Ratings

$20

Min. deposit

Spreads

Fees

9,000

No. assets

Demo account

Overview

We love Public because it makes use of cutting-edge AI technology to enhance your trading and investing experience. Public’s AI-powered feature, Public Alpha offers personalized insights and recommendations through its natural language interface in real time.

Public’s AI technology helps you make more informed decisions by analyzing massive amounts of data and providing actionable insights. These AI-driven insights are easily accessible and give users access to the latest advancements in financial analysis and trading.

Not only do can you use AI to help your investments, Public is one of the lowest cost brokerage firms out there. You can invest in stocks and ETFs commission free. You can also buy and trade fractional shares and if you want to diversify, you can explore a range of alternative investments including music and film royalties.

The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.

Highlights

Fees & Costs

Pros & Cons

Read review Visit

What is an online broker, and how does it work?

An online broker is an intermediary that helps people buy and sell stocks, funds, and bonds. Unlike traditional brokers, online brokers offer self-directed trading platforms through which users can directly engage with the financial markets.

These platforms typically include a suite of features, including trading tools, educational materials, and research and analysis capabilities.

You can buy and sell assets directly on a trading platform; the broker will transmit the order to the market and facilitate the trade for you. The assets you can buy include, but are not limited to, stocks, ETFs, funds, bonds, and cryptocurrency.

How do I open a brokerage account?

Simply click “sign up” on your chosen online trading platform and submit the necessary information. They usually include:

Your full legal name
Contact information
Information on tax and income

Make sure that the platform accepts clients from the country you reside in – many online brokers in Europe and the UK, including Degiro or Avatrade, don’t accept users from the US.

Do I have to verify my identity with an online broker?

Yes, you do. This process could involve everything from verifying your bank information to more elaborate verification procedures, including photo IDs such as driver’s licenses or passports.

The overarching term for this layer of security is “KYC”, which stands for “Know Your Customer.” The best trading platforms, including brokerages and other financial institutions, use KYC guidelines to help prevent people from laundering money or conducting financial scams.

Do I need any extra software to set up an online brokerage account?

It depends on the platform you use. Many require no additional software – allowing you to trade simply on the browser or through the platform’s app. However, some might require integration with popular forms of trading software such as MetaTrader4.

Read more: best TradingView brokers

How much money do I need to open an online brokerage account?

There is no universally set amount of money required to start trading. The amount you need depends on your chosen platform’s minimum deposit requirements and the price of the asset you intend to buy.

Many online brokers lifted minimum deposit requirements, but some still have it. eToro, for example, requires at least a $100 deposit to activate your account.

Are online trading platforms safe?

In general, yes, they are safe, although not all of them are. We recommend you only use trading platforms regulated by authorized bodies like the SEC in the US, which protects client deposits from loss due to broker failure for up to $500,000 or $20,000 in cash through the SIPC.

Can I lose money while trading?

Yes, you can lose money while trading. Deposit insurance doesn’t protect you against losses that result from market movements. The value of the assets you buy can go up or down due to various factors – this is a key risk for beginner traders who work without a financial advisor.

Ideally, extensive research, solid knowledge of the market forces, and your risk tolerance should guide your decisions. Without these, you can be vulnerable to market volatility.

You can, though, use the educational resources many brokers offer to defend yourself and curb impulse trading.

Low fees are important for any beginner because you’re likely to have less money to play with. It’s usually better to start with a 0% commission platform so that the fees don’t eat into your precious capital.

Fees don’t just mean trading fees, though. Look out for other, ‘hidden’ fees, such as how much it costs to make a deposit or withdrawal, and especially inactivity fees that come into effect if you don’t use your account for a set period of time.

The top online brokers for your needs

What’s best for you depends on three main factors:

Your level of experience,
What you want to trade, and
How often you want to do so.

Here we help answer common questions to give you a sense of the best type of broker for your trading style.

What is the best trading platform for beginners?

eToro is the best trading platform for beginners. Its CopyTrader and social trading features, combined with a low cost of trading, make it ideal for new traders.

The best trading platforms to learn trading should be easy to use, with an intuitive interface that guides you through the most important information.

It should offer lots of guides and tutorials to run you through how to trade.

What is the best demo trading account?

eToro is the best online brokerage platform with a demo account. With eToro, you can switch between real money and a paper trading account at the touch of a button and use the same features on each one.

Here are some of the best online trading platforms with demo accounts:

Demo broker	Demo dollars
eToro	$100,000
Capital.com	$10,000
Pepperstone	$50,000

Read more: best demo trading accounts

What is the best penny stock trading platform?

Besides being one of the best trading platforms with the lowest fees, Degiro also has the largest range of international markets where you can buy cheap stocks from around the world. Low-fee trading in European markets and free trading on US stocks are additional bonuses.

Read more: best penny stock trading apps

What is the best copy trading platform?

eToro is the best social and copy trading platform. You can share your trading tips and see what other people are thinking.

To find a great social platform, look for an interface that mixes social media with a trading platform and where you can follow and copy your favorite traders.

Here are the best copy trading platforms:

Copy trading platform	Copy trading features
eToro	Yes
Zulutrade	Yes

Read more: best copy trading platforms

What is the best day trading platform?

AvaTrade is the best day trading platform. With competitive spreads, over 1000 assets available, and the opportunity to place trades through MetaTrader4, it’s the top option for any fast-paced day trading strategy.

Here are the best day trading platforms:

Trading platform	Fees	No. of assets
AvaTrade	0% commission	90+
City Index	From 0.08%	13,500+
Admirals	From $0.15 per lot	5,000+

How to compare online trading platforms

Platform security and regulation are vital, while cost is an important factor for everyone.

The features below give you an idea of what to look for and how to compare brokers.

1. Top-tier regulation

All trading platforms in the US must be regulated by the SEC (Securities and Exchange Commission), a government organization that regulates the issuing, marketing, and trading of securities and protects investors like yourself.

The best American trading platforms are also members of the SIPC (Securities Investor Protection Corporation), which provides additional investor protection by insuring the cash you deposit to online brokerage accounts.

The SIPC insures up to $500,000 of investor cash and securities in the event your brokerage firm becomes insolvent. You can see which online brokers are members of the SIPC by looking for its logo on their websites.

The SIPC is a federally mandated program to protect investors, but equivalents exist in many countries around the world.

The more financial authorities that have regulated a broker, the better. Do not deposit money to any unregulated broker.

Region	eToro regulators	Public regulators
Africa	–	–
Asia	–	–
Australasia	ASIC	–
Europe	FCA, CySEC	–
International	–	–
North America	FinCEN	SEC, FINRA, SIPC
South America	–	–
View more >	eToro >	Public >

2. Platform fees and the cost of trading

Some online trading platforms offer zero-fee trading, but it isn’t universal. With some, you may have to pay a flat fee per trade, which can range up to $2 – $5 per transaction.

If you plan on trading often, prioritize low fees, or a subscription package where you get a certain number of free trades included.

Here are some stock trading platforms with the lowest fees:

Asset	eToro fees	Public fees
Crypto	1%	1-2% (spread)
Commodities	From 2 pips	–
Forex	From 1 pip	–
Index prices	From 0.75 pts	–
Stocks	0% commission	Spreads
Stock CFDs	0.15%	–
ETF CFDs	0.15%	–
View more >	eToro >	Public >

3. Mobile app availability

The stock market can move quickly, and you might have to make fast decisions wherever you are in the world.

A trading platform that offers quality mobile platforms or a dedicated stock trading app is worth signing up for, as we spend more and more time managing our money from our phones.

4. Demo accounts

The best stock trading platforms for beginners offer a demo or ‘virtual’ account. Follow the account opening process as normal and switch to the virtual account in your settings to access it.

Demo accounts let you practice trading without risking real money. You can use them to get used to the stock market, test out your charting tools, and trial a day trading platform without committing to anything.

Anyone who’s a beginner stock trader should start out with a demo account. It gives you the chance to learn the rhythms of the markets without putting precious money at risk.

Only experienced traders should use real funds to trade, and we don’t recommend that you graduate beyond a demo account until you fully understand the risks of trading.“
James Knight, Editor of Education

5. Range of assets available

The more stocks, ETFs, and mutual funds available on a platform, the more opportunities to trade and invest you’re likely to find. This is particularly important if you want to trade a specific type of stock, like penny stocks, or companies from a certain country.

Most brokers offer major US stocks from the NASDAQ and the NYSE, the two leading stock exchanges. If you want to trade stocks from outside the US, then check what’s available from each online broker before you sign up.

As time goes on, you may also want to trade other assets, like cryptocurrency, funds, or a stock ETF. In that case, you need a broker that offers these assets.

It’s why eToro is so popular, for example: it offers all types of assets in one simple platform.

Product	eToro assets	Public assets
Stock CFDs	3117	–
ETF CFDs	317	–
Forex CFDs	49	–
Crypto	73	7
Index CFDs	20	–
Commodity CFDs	26	–
NFTs	100,000	–
View more >	eToro >	Public >

Exact figures may vary. NFTs are accessed through Delta, an NFT explorer app which is owned and operated by eToro.

6. Access to ETFs and mutual funds

ETFs and funds are investment vehicles that allow you to invest in many stocks simultaneously. They’re a great way to create an immediately diversified portfolio, without having to pick companies individually.

The range of ETFs and funds varies from broker to broker. A traditional stock broker is more likely to offer fund investing than an online stock trading platform.

7. Availability of managed accounts and robo advisors

Managed accounts and robo-advisors effectively automate your investing. You set your investing goals and the platform – either through a professional financial manager or a computer algorithm – decides what to invest in.

These tend to only be available through specialist platforms, such as Nutmeg. However, some brokers are designed so that you can connect them to a third-party platform that manages the account for you.

8. Research tools like stock screeners

Trading platform features like stock screeners help you identify trading opportunities by showing you companies that meet a set of defined criteria.

For example, you could use one to find only stocks with a market cap over $500 billion, who pay a dividend yield over 2%, or where the price chart is in a particular pattern.

Third-party stock screeners like Finviz are available, but some brokerage services offer them as part of the package. This is particularly the case for brokers that charge a subscription fee and can be a reason to choose a subscription package over a broker that charges a commission.

9. Leveraged trading

Leverage allows you to stretch your money out by putting up a small deposit as collateral and borrowing the rest from your broker.

Leverage is particularly important for high-frequency traders or scalpers, who make lots of trades that only aim to make a few pence each time, as it means you can magnify the value of the trade many times over. If you plan on trading like that, look for trading platforms that offer high leverage.

Please note: Contracts for difference (CFD) is a very popular leveraged trading instrument, allowing traders to bet on the price movements of underlying assets.

Due to the use of leverage, CFDs are considered extremely risky and are banned in the US. This means that any CFD trading platform that accepts US residents as users is likely to be unregulated, and you shouldn’t trade with them. Many other countries allow CFDs, including but not limited to: United Kingdom (where they are originated), Australia, Germany, Switzerland, Singapore, Spain, France, South Africa, Canada, New Zealand, Sweden, Norway, Italy, Thailand, Belgium, Denmark, and the Netherlands.

10. Charting and analysis tools

Most trading strategies are based on technical analysis. This involves studying charts to identify trends and then using that information to plot future price moves and trading accordingly.

Charting and analysis are crucial to trading stocks successfully, and it’s important to find a desktop platform that allows you to perform your own technical analysis.

The more tools an online broker has to help you do this, such as alerts or indicators that you can use to notify you when a price move happens, the better.

11. Trading style

Many investors look for many different stocks and seek numerous different trading strategies for their asset of choice.

Some investors may want to go short (betting that the price of a stock will go down) or go long (betting that the price of a stock will go up). If you want to bet on the market to fall, you need a platform that specifically offers shorting, as not all brokers do.
Other investors may favor hedging, which is when you make an investment designed to limit the potential downside of another investment you’ve already made.
Another trading option popular with certain investors is scalping. This is a method of arbitrage in which you attempt to make money by taking advantage of small price gaps between the bid price and the ask price of a specific stock on different platforms.

Compare trading platforms

More about trading platforms

Which trading platform is best in my country?

There’s no one perfect answer, and it depends on your needs, budget, and long-term goals. For those of you who aren’t based in the US, our experts have rated the best brokers in different countries to help you find one that works for you.

Which trading platform offers the most payment methods?

eToro lets you deposit with a bank transfer, debit/credit card payment, Apple Pay, Google Pay, or PayPal in USD, GBP, EUR, or AUD. A range of other payment methods are available, too, but only for some users, including Neteller, Skrill, Klarna, and IDEAL.

Find brokers by your preferred deposit & withdrawal method:

Brokers that didn’t make it into our top recommendations

There are lots more stock brokers out there, and many have plenty of great features. However, some of these trading platforms didn’t stand out to us as right for the normal retail trader.

Fidelity. Fidelity one of many well-established stock brokers that works better as a long-term investment vehicle than a trading platform. It’s better for ETF or fund investing than for retail stock trading.
Charles Schwab. While Charles Schwab is a solid option for US customers who only want to invest in stocks listed in America, it makes it much more difficult to day trade international stocks without a premium account.
TD Ameritrade. TD Ameritrade has been acquired by Charles Schwab, and we expect its transition to be a full part of that broker to be completed in the next few months. As a result, we removed it from consideration as one of our best trading platforms.

Open an account with a top trading platform

Best trading platforms: your reviews

One of the best ways to find top-rated trading platforms is to use review sites like TrustPilot. Here, you can find thousands of genuine reviews from existing customers. You can use these reviews to help make your decision when choosing a trading platform.

Review source	eToro rating	Public rating
Trustpilot	4.4	3.1
Google Play Store	4.1	3.7
App Store	3.8	4.7
View more >	eToro >	Public >

Methodology: How we choose the best trading platforms

Helping people make better financial decisions is at the heart of our mission at Invezz.

We periodically test more than 63 trading platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of stock market experts, analysts, and active traders who sign up for each broker, conduct research, and score each service.

Our tests are designed to find stock brokerages that offer a beginner-friendly, secure investing experience at a fair price. To supplement our practical testing and experience, we research each trading platform to gather any further relevant information.

We read online customer reviews and app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each stock broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit and withdrawals, investing options, range of products/markets, research and analysis tools, and the availability of educational and learning resources.

We work closely with individual brands to ensure that all information displayed here is accurate. An independent reviewer then fact-checks all data presented.

You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

What is the cheapest trading platform?

How do commission-free trading platforms make money?

Is Robinhood free?

Do I have to pay tax on my day trading profits?

Which trading platforms offer the most stocks?

Can I trade stocks 24/7?

Should I use multiple brokers?

How can I diversify with little money?

OK, I’m ready to choose a trading platform

More of the best platform rankings

Best demo trading accounts 2025

Best futures brokers 2025

Best Islamic trading accounts & brokers 2025

Best options trading platforms 2025

Best penny stock apps 2025

Sources & references

Prash Raval

Financial Writer

Prash Raval

Financial Writer

ForexTradingStocksInvestingFootball

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while running an educational service helping novice traders learn the markets. He has a keen interest in micro and small cap stocks....

No. of tradable assets	3600+
Min. Deposit	$100
ID verification required	Yes
Free demo account	Yes
Supported assets	Stock CFDs, ETF CFDs, Forex CFDs, Index CFDs, Commodity CFDs, NFTs, Crypto
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	ASIC, FCA, CySEC, FinCEN

Trading fees	Yes, on certain assets
Inactivity fees	Yes
Rollover/overnight fees	Yes, on CFDs
Withdrawal fees	Yes
Spreads	Yes, on certain assets
Conversion fees	Yes, for non-USD currencies

No. of tradable assets	9,000 +
Min. Deposit	$20
ID verification required	Yes
Free demo account	No
Supported assets	Stocks, ETFs, Crypto, , ,
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	SEC, FINRA, SIPC