Best Online Trading Platforms: Top 10 Rated & Reviewed

Whether you decide to invest in various companies’ stocks, buy cryptocurrencies, or trade foreign exchange, the first thing you need to do is choose from the best online trading platforms for your trading needs. Trading platforms vary in their functions – types and amount of fees they charge, selection of assets to trade, usability, trading tools they offer, customer support, etc.

In this article, we intend to introduce you to the best online trading platforms in the USA. We will discuss trading platforms with the best trading and non-trading fee policies, user-friendly interface, and, most importantly, trustworthy regulatory systems.

Top Online Trading Platforms 2021

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10
  1. eToro – Best Social Trading Platform in 2021
  2. Capital.com – Best CFD Trading Platform with AI Technology
  3. Libertex – Best Trading Platform with Zero Spreads
  4. VantageFX – Best ECN Global Trading Platform for Forex Trading
  5. Robinhood – Best US Stock Trading Platform
  6. TD Ameritrade – Best Day Trading Platform in 2021
  7. Interactive Brokers – Best Trading Platform for Experienced Traders
  8. Plus500 – Low-Cost CFD Trading Platform
  9. IG – Best All-Around Trading Platform
  10. Fidelity – Best Trading Platform for Beginners
  11. Charles Schwab – Best Free Trading Platform for Stock Trading

Best Online Trading Platforms Reviewed

With more and more online trading platforms emerging these days, it’s becoming harder for investors to choose the most appropriate broker for them. It’s not only crucial to consider if the platform operates in your country and supports the assets you plan to trade, but also you have to compare the fees they charge, trading tools they have, and whether they are reliable or not.

To help you make a more reasonable selection, here we have rounded up a list of the best online trading platforms of 2021. Our suggested trading platforms stand out with relatively competitive fees, user-friendly interface, educational resources, etc.

1. eToro – Best Trading Platform in 2021

bitcoin today

Comparing a bunch of online trading platforms, we figured out that eToro is one of the best online trading platforms in 2021. Firstly, the platform is a global leader in social trading so you can use its various social tools to create your personal profile on eToro, communicate with other investors and take part in discussions, research their portfolios, and so on. Then, another appealing thing in eToro is that you can automate your trades through the so-called CopyTrade tool. It allows you to pick up an expert trader whose portfolio you want to copy and mirror all his trades with just one button.

In general, eToro is a perfect platform for beginners – it’s very easy and quick to use. And what is most important, if you don’t have too much money to start, it allows buying fractional shares. So, having just $50, you can get a small stake in a company with a stock worth $2000. eToro is a commission-free platform for stock and ETF trading, but it charges a small percentage of spreads for forex and cryptocurrency trading and overnight fees for CFD trading. It also has some non-trading fees, which are relatively low. The withdrawals and deposits on eToro are conducted in USD, so you’ll have to pay a $5 fee for each withdrawal and a conversion fee for non-USD transactions. The minimum amount of withdrawal is $30.

On the other hand, social trading tools like CopyTrader or CopyPortfolios are totally free to use, and the platform does not even charge monthly account fees.

However, eToro charges an inactivity fee when you don’t do any login activity for 12 months. After 12 months, it begins charging a $10/month inactivity fee on any remaining available balance. eToro also requires you to have a minimum deposit of $200 to allow you to trade on the platform (though you can open a demo account for free and make a deposit whenever you are ready).

eToro offers you a massive selection of various assets to invest in – stocks, commodities, Forex trading, cryptocurrencies, and ETFs. On this platform, you can buy shares of more than 2400 companies from 17 stock exchanges, including NASDAQ, NYSE, Paris, etc. You can trade over 20 cryptocurrencies and 250 ETFs. As a commodity trading platform, eToro supports Gold, Platinum, Gas, Oil. etc.

When it comes to its reliability, eToro is a FINRA-registered platform. It is regulated by CySEC in Cyprus, by FCA in the UK, by ASIC in Australia, and FinCEN in the US. It means you can be sure your safety on eToro is guaranteed.

To start trading on eToro, you need to visit the website, register for an online account, and deposit funds. It accepts various payment methods, including credit and debit cards, bank accounts, and E-wallets, like Skrill, Paypal, and Neteller.

What you can trade on eToro

  • Stocks – Tesla/TSLA, Apple/AAPL, Microsoft/MSFT, Walmart/WMT, etc.
  • Commodities – Oil, Gold, Silver, Platinum, Cotton, Sugar, etc.
  • Currencies – EUR/USD, GBP/USD, AUD/USD, USD/CAD, etc.
  • Cryptoassets – Bitcoin/BTC, Ethereum/ETH, Ripple/XRP, etc.
  • ETFs – SPY, TLT, QQQ, etc.
  • Indices – NASDAQ 100, JPN225, China50, AUS200, etc.

eToro Fees

Type of fee Amount
Stock and ETF trading fee No trading fees – Only spread
Cryptocurrency and forex trading fee No trading fees – Only spread
Overnight fees For CFD trading only
Monthly account fee No
Minimum Deposit $200
Inactivity fee $10/month after 12 months of inactivity
Withdrawal and Conversion fee $5 for each withdrawal

eToro Advantages and Disadvantages

Pros Cons
Zero commission for stocks and ETFs Charges inactivity fees
Variety of assets to trade (stocks, crypto, forex, commodities, etc.) Lack of analyzing tools for more experienced traders
Strong regulatory system
Well-designed interface for beginners
Accepts several payment methods
Allows buying fractional shares
Best social trading platform
Educational content

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. VantageFX – Best Forex Trading Platform

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Vantage FX is another commission-free trading platform that offers personalized accounts for all types of traders. This pure ECN broker is equipped with social trading tools and supports MetaTrader 4 and MetaTrader 5 platforms. You can have access to different types of assets on this platform – cryptocurrencies, foreign exchange, commodities, indices, futures, and stocks.

One of the main attractions of VantageFX is that it offers you three different account services – Vantage Standard, Vantage RAW, and Vantage Pro. The first one is perfectly designed for beginners where you can trade with zero commission but must have a minimum deposit of $200. Vantage RAW is for experienced traders and starts with a more than average commission fee of $3 per lot per side. The minimum deposit, in this case, is $500. And finally, Vantage Pro is for professional traders who trade high volumes. The commission fee for this account starts from $2, and it requires you to have a minimum deposit of $20,000.

As for other non-trading fees, VantageFX doesn’t charge any inactivity fees or deposit, withdrawal, and conversion fees. The platform is regulated by FCA in the UK and ASIC in Australia.

What Can You Trade on VantageFX

  • Forex
  • Cryptocurrencies
  • Stocks
  • Commodities
  • Indices

VantageFX Fees

Type of fee Amount
Commission fee No for Standard Account
Spread fee 1,4 pip for Standard Account
Minimum Deposit $200, $500, $20,000 according to the account type
Monthly account fee No
Inactivity fee No
Withdrawal and Conversion fee No

VantageFX Advantages and Disadvantages

Pros Cons
No deposit, withdrawal and inactivity fees Offers only Forex and CFDs
Offers three account services for traders of different levels Spreads for Forex trading are a bit higher than average
Regulated by FCA and ASIC
Well-designed interface for beginners
Accepts multiple payment methods
Supports MetaTrader 4 and MetaTrader 5
Offers social trading tools
Has some educational content

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Robinhood – Best US Mobile Stock Trading Platform

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Robinhood is clearly one of the most famous stock trading platforms for US users. Founded in 2013, this California-based company already has more than 10 million users. It allows you to trade over 5000 stocks listed on US stock exchanges, including NASDAQ and NYSE. Plus, the platform also offers 250 non-US stocks.

Robinhood is also suitable for cryptocurrency and ETF trading. The platform is 100% commission-free and doesn’t require a minimum deposit to allow you trading. Robinhood also has a Gold account with a subscription cost of $5 per month. There are also no inactivity or withdrawal fees on Robinhood. The only fee that the platform charges is the payment for order flow.

Robinhood has both a web trading platform and mobile app which is accessible for iOS and Android users. Though it’s elementary to use and well-designed for beginners, the platform is rather simple for experienced traders and lacks trading and research tools for a more sophisticated type of trading. Another drawback is its poor customer support.

Robinhood is strongly regulated by FINRA and SEC, so safe trading is guaranteed. One problem is that the only payment method the platform accepts is US bank transfer; you can pay neither with credit and debit cards nor E-wallets.

What you can trade on Robinhood

  • Stocks
  • ETFs
  • Cryptocurrency

Robinhood Fees

Type of fee Amount
Stock trading fee Commission free
Crypto trading fee Commission free
Minimum Deposit $0
Monthly account fee $5 month for Gold account
Payment for the order flow Yes
Inactivity fee No
Withdrawal and Conversion fee No

Robinhood Advantages and Disadvantages

Pros Cons
Zero-commission platform Accepts only US traders
No inactivity and withdrawal fees Accepts only US bank transfer payment method
Registered with SEC and FINRA Poor options for advanced traders
Simple to use platform for beginners
$0 minimum deposit to start trading
More than 5,000 US stocks and 250 non-US stocks
Mobile app for iOS and Android users
Supports cryptocurrency and ETF trading

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

4. Libertex – Best CFD Trading Platform with Zero Spreads

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Founded in 1997, Libertex already has a history of over two decades and more than 2 million clients from 11 different countries, including Canada, Australia, the UK, and other European countries. The most vivid advantage of this platform is the cost-effective trading it provides the users. First and foremost, Libertex does not charge any spreads and the commissions are very competitive. These commissions can vary from asset to asset and from trade to trade. For example, stock commissions on Libertex range between 0.1% and 0.2%.

Libertex offers two trading platforms. The first is its own in-house built platform where you can choose between various assets, including stocks, currencies, commodities, indices. And the second one is the M4 Trading platform, where you can also trade cryptocurrencies.

Another advantage is its easy-to-use interface and educational content. Signing up for an online account on Libertex is just a matter of minutes. The broker accepts credit and debit cards, bank account transfers, and e-wallets.

The minimum deposit Libertex requires to have on your account for the first trading is £100. However, the minimum deposit for all future trades is 10 euros unless you use a bank transfer method.

Libertex doesn’t charge a withdrawal fee, but it has an inactivity fee of $5/month and starts charging after 180 days of inactivity. As for its safety, Libertex is regulated by CySEC in the EU.

What can you trade on Libertex

  • Stocks
  • Currencies
  • Cryptocurrencies
  • Commodities
  • Indices

Libertex Fees

Type of fee Amount
Stock trading fee Commission fee from 0.1%-0.2% / No spread
Currency trading fee Commission fee 0.012% for NZD/USD / No spread
Crypto trading fee Commission fee 0.47%-2.5% / No spread
Minimum Deposit £100 for the first trading
Monthly account fee No
Inactivity fee $5/month after 180 days of inactivity
Withdrawal and Conversion fee No

Libertex Advantages and Disadvantages

Pros Cons
Does not charge spreads Offers only CFD trading
Low commissions Does not support US residents
Supports M4 trading platform
Registered by CySEC
Easy to use platform
No withdrawal fees
A wide range of assets
Mobile app
Educational content

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

5. TD Ameritrade – Best Day Trading Platform in 2021

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Established in 1975, Ameritrade is one of the oldest US online brokers. It’s an excellent trading platform for both beginners and more advanced traders. It has valuable educational content, an easy-to-use platform, and good customer service that make Ameritrade a good start for the newbies in trading.

Ameritrade offers excellent market research tools and a perfectly designed mobile app for active investors, including day traders, futures traders, and options traders. Another advantage that makes it stand out is the diversity of assets it offers. It offers thousands of shares from US and international marketplaces.

The platform charges zero commission for stock trading and does not require any minimum deposit to start trading. However, you can only use the bank transfer method to fund your account. To start trading on Ameritrade, you can use its web platform or mobile app.

Regarding your safety, Ameritrade has a solid regulatory system and is regulated by top-tier authorities, including SEC, FINRA, and CFTC.

What you can trade on TD Ameritrade

  • Stocks
  • Currencies
  • ETFs
  • Futures
  • Bonds
  • Options trading
  • Mutual funds

TD Ameritrade Fees

Type of fee Amount
Stock trading fee Commission free for US stocks
Currency trading fee Spreads vary
Minimum Deposit $0
Monthly account fee No account fees
Inactivity fee No inactivity fees
Withdrawal and Conversion fee $25 for wire transfer, free for ACH

TD Ameritrade Advantages and Disadvantages

Pros Cons
Wide range of assets to trade Doesn’t support cryptocurrency trading
Cost-effective trading Doesn’t accept credit and debit card, or e-wallet
Strong regulatory system
Good educational content for beginners
Well-designed mobile app
Trading tools for active traders
$0 minimum deposit to start trading
Good customer support

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

6. Interactive Brokers – Best Trading Platform for Experienced Traders

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Interactive Brokers is a well-established online broker that offers trading options for both advanced traders and beginners. Before 2019, the platform was primarily famous for the perfect trading tools it provides to advanced traders. However, starting from 2019, the platform also offers an IBKR Lite account for less-experienced traders.

If you are a seasoned investor, you can use the various trading tools and multiple research resources available on the platform. Interactive Brokers also provides multiple stocks and ETFs from 135 stock exchanges in 33 different countries.

There are two account options on this platform – IBKR Lite and IBKR Pro. The trading fees differ depending on the account and the asset you choose to trade. However, in this term, Lite account users have some privileges – they can make unlimited free trades in all stocks and ETFs listed on the US stock exchanges and total commission-free trades for all the ETFs.

There is no minimum deposit for both accounts and no monthly account fees for Lite account users. Still, Pro account users with less than $100,000 have to pay a $10 account fee per month, and those with less than $2,000, have to pay $20/month.

Interactive Brokers also allows buying fractional shares and provides two powerful trading platforms, Client Portal and Trader Workstation. There is also an opportunity for mutual funds, bonds, options, and futures trading.

You don’t need to worry about your safety on this platform, as your account is protected by SIPC. The platform is also regulated by the SEC and CFTC. You can deposit funds on your account via a bank transfer.

What you can trade on Interactive Brokers

  • Stocks
  • ETFs
  • Forex
  • Fractional Shares
  • Mutual funds
  • Options
  • Futures
  • Metals
  • Bonds

Interactive Brokers Fees

Type of fee Amount
Stock and ETF trading fee US stocks free for Lite account
Currency trading fee Low commission + spreads
Minimum Deposit $0
Account fee No for Lite account/ $10-$20 for Pro account
Withdrawal and Conversion fee No

Interactive Brokers Advantages and Disadvantages

Pros Cons
Low commission fees Doesn’t support cryptocurrency trading
No minimum deposit More sophisticated interface
Strong regulatory system Monthly fees for Pro account
Advanced trading tools and research resources
Well-designed mobile app
Wide selection of stocks and ETFs
Commission-fee trading for US stocks and ETFs (for Lite account only)
Good customer support
Educational content

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

7. Plus500 – Low-Cost CFD Trading Platform

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If you are seeking a forex trading platform with competitive fees, consider trading with Plus500. It offers CFD trading on more than 70 currency pairs with zero commissions in European and Asian countries. Spreads are competitive, too but they differ depending on the currency pair and market hours.

Besides forex trading, the platform supports other assets and trading options, including cryptocurrency, stocks from 20 different markets, ETFs, commodities, indices, and options. One drawback is that though the platform has some research recourse, it lacks crucial technical analysis to support more advanced traders. It also does not provide a third-party trading platform like M4 or M5 platforms.

But the broker has a very easy-to-use interface for beginners, and opening an account is a quick process. Once you verify it, you can deposit money on your account via credit and debit cards, PayPal, or bank transfer. The minimum deposit that Plus 500 requires to allow you to start trading is $100.

There are no withdrawal fees, but the platform charges an inactivity fee if you don’t have any login activity on your account for more than 180 days. Plus500 is a safe platform regulated by the Financial Conduct Authority.

What you can trade on Plus500

  • Forex
  • Cryptocurrency
  • Stocks
  • Commodities
  • Options
  • ETFs
  • Indices

Plus500 Fees

Type of fee Amount
Stock trading fee No commission / Spreads vary
Currency trading fee No commission / Spreads vary
Crypto trading fee No commission / Spreads vary
Minimum Deposit $100
Account fee No
Inactivity fee £10/month after 180 days of inactivity
Conversion fee Only when using different currency than the account is based on
Withdrawal fee No

Plus500 Advantages and Disadvantages

Pros Cons
Zero-commission trading policy CFD trading only
Huge selection of assets Charges inactivity fees
Strong regulatory system Lacks research analyses and social tools
Mobile app
No withdrawal fees
Low spreads
Multiple payment methods

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

8. IG – Best All-Around Trading Broker Platform

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Founded in 1974, IG is one of the most well-established and low-cost trading brokers. The platform is especially famous for currency trading as it offers more than 100 currency pairs. The selection includes both; major pairs, such as EUR/USD, AUD/NZD, and minor ones, such as Russian ruble, Indian rupee, etc.

The trading prices are super competitive here – there are no commissions for forex trading, and the spreads start from 0.8 pips. This broker offers you two trading platforms. The first one is an in-house-built IG platform that is best suited for beginners. This platform can also be used through an IG app downloaded on your phone. The second one is the M4 third-party trading platform which offers some technical tools for advanced traders.

Besides currencies, IG also offers various stocks from the major international markets and several cryptocurrencies, though you can only trade CFDs. All in all, there are almost 20,000 CFD trading assets on this platform.

IG is one of the most heavily regulated trading blockers and is authorized by 6 tier-1 regulators, including ASIC in Australia, JFSA in Japan, MAS in Singapore, FINMA in Switzerland, FCA, and CFTC.

IG requires you a minimum deposit of $250 to allow you trading, which you can deposit through a credit card or bank transfer. It also charges an inactivity fee if you don’t show any login activity within 24 months.

What you can trade on IG

  • Forex
  • Indices
  • Cryptocurrency
  • Stocks
  • Commodities
  • Bonds
  • ETFs
  • Options
  • Interest rates

IG Fees

Type of fee Amount
Stock trading fee No commission / Spreads vary
Currency trading fee No commission / Spreads vary
Crypto trading fee No commission / 36 pips for BTC
Minimum Deposit $250
Account fee No
Inactivity fee £12/month after 2 years of inactivity
Withdrawal fee No

IG Advantages and Disadvantages

Pros Cons
Offers more than 100 currency pairs to trade Requires a minimum deposit of $250
Support M4 trading platform Charges inactivity fees
Heavily regulated by 6 tier-1 authorities
Well-designed mobile app
No withdrawal fees
Excellent educational content
Supports debit card or bank transfer to deposit funds

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

9. Fidelity – Best Trading Platform For Beginners

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Fidelity can be the best choice for passive investors when it comes to buying multiple stocks for portfolio diversification and long-term investment. Along with its various investment tools, the platform offers a great selection of stocks from 25 countries with no commissions. And what is most important, the platform allows buying fractional shares of ETFs and individual stocks.

Another appealing thing about this broker is its easy-to-use platform, which can also be customized for more advanced traders. Fidelity offers many top-notch research tools, access to news, and real-time quotes and shines with its excellent educational content on Fidelity Learning Center.

The broker uses two platforms to satisfy its users – its own trading platform, which is accessible also through a mobile app and is designed great for newbies. The second one is the third-party trading platform – ActiveTrader Pro, which is best suited for active traders.

Fidelity doesn’t require any account minimum to allow you trading, nor has it any inactivity or monthly account fees. In contrast, the platform charges higher than usual broker-assisted fees. Another eye-striking drawback is its lack of asset variety for trading – the platform does not offer cryptocurrency, future, or commodity trading.

Fidelity offers multiple payment methods; however, these do not include credit and debit cards or e-wallets. And last but not least, the platform is a safe place for trading as it is heavily regulated by FCA and covered by FSCS.

What you can trade on Fidelity

  • Stocks
  • ETFs
  • Fractional Shares
  • Bonds
  • Options
  • Mutual funds

Fidelity Fees

Type of fee Amount
Stock trading fee No trading fees
Broker-assisted fee $32.95
Minimum Deposit $0
Account fee No
Inactivity fee No
Withdrawal fee No

Fidelity Advantages and Disadvantages

Pros Cons
A huge variety of stocks Offers only stocks and ETFs
Support Active Trader Pro platform Does not accept credit/debit card, e-wallet
Customized for passive and active traders
Well-designed mobile app
No deposit, withdrawal or inactivity fees
Excellent research and educational content
Heavily regulated

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

10. Charles Schwab – Best Free Stock Trading Platform

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Being one of the oldest trading platforms in the US, Charles Schwab is well-suited for both beginners and experienced traders. First and foremost, it supports a massive selection of almost all the public companies listed on US stock exchanges. Plus, fractional shares are also available, which means that you can get a hand on any giant company with just $5.

Charles Schwab is also exceptionally equipped with sophisticated trading tools, research resources, and educational content to attract newbies and experienced traders. It offers one of the best mobile trading apps, which provides high control over your account. You can choose multiple methods to access your account – including face image, fingerprint, passcode, etc.

One of the most attractive things about Charles Schwab is its super competitive fees – no minimum deposit, no withdrawal or inactivity fee, no commissions for stock and ETF trading. Yet, the platform charges $50 for complete transfer out of assets; $25 for partial transfer of assets.

What you can trade on Charles Schwab

  • Stocks
  • ETFs
  • Futures
  • Fractional Shares
  • Options
  • Bonds
  • Mutual Funds

Charles Schwab Fees

Type of fee Amount
Trading fee No trading fees for stocks
Minimum Deposit $0
Account fee No
Inactivity fee No
Withdrawal fee No

Charles Schwab Advantages and Disadvantages

Pros Cons
No commission on Stocks and ETFs Does not support Commodities, Forex, Cryptos
Supports 3 trading platforms Mutual funds are higher than average ( $49.95)
Supports almost all the stocks listed on US exchanges
Offers 2 mobile apps
No deposit, withdrawal or inactivity fees
Excellent research and educational content
Strong regulatory system
Provides strong security control over your account

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

11. Capital.com – Best CFD Trading Platform With AI Technology

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Being a relatively new player in the trading sphere, Capital.com is equipped with modern and innovative trading tools. It’s primarily famous for its AI-powered trading platform. Plus, the broker also supports MetaTrader 4 platform. Capital.com shines with the powerful tools it offers for advanced traders and education content for beginners.

Another fascinating thing is its competitive trading fees – there are no commissions, and the spreads are low. However, the platform requires a minimum deposit starting from $100 to $10,000, depending on the type of account you choose to register. These accounts are Standard, Plus, and Premier.

Besides indices, ETFs, commodities, and 68 forex pairs, you can trade CFDs of more than 3000 stocks and 80 cryptocurrencies on this platform. This includes shares of giant companies throughout the world. The platform is highly regulated by FCA, so you can be sure about safe trading.

Capital.com accepts multiple methods to fund your trading account, such as credit and debit cards, bank transfers, and e-wallets. E-wallets available on the platform include AmazonPay, Webmoney, QIWI, and others; however, it does not support PayPal.

What you can trade on Capital.com

  • Stocks
  • Cryptocurrencies
  • Indices
  • Commodities
  • Currencies
  • ETFs

 

Capital.com Fees

Type of fee Amount
Stock trading fee Spreads 0.1% var.
Currency trading fee Spreads 0.6 pip for EUR/USD
Crypto trading fee Spreads 0.5% for BTC, 1% for ETH
Minimum Deposit From $100 (depending on the type of account)
Inactivity fee No
Withdrawal fee No

 

Capital.com Advantages and Disadvantages

 

Pros Cons
No commission on Stocks and ETFs Only CFD trading on stocks and commodities
AI trading platform Does not accept Paypal
Low spreads Minimum deposit
A great selection of assets to trade
Provide 3 different account types
Excellent research and educational content
Strong regulatory system
No withdrawal or inactivity fees

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

Best Online Trading Platforms Compared

Below you’ll find a comparison of the best online trading platforms in the United States based on the range of assets available on each platform and the fees you’ll have to pay:

Best Online Trading Platforms Assets Comparison

Stocks FX Crypto Commodities ETFs Futures Indices
1. eToro Yes Yes Yes Yes Yes No Yes
2. Vantage FX Yes Yes Yes Yes No No Yes
3. Robinhood Yes No Yes No Yes No No
4. Libertex Yes Yes Yes Yes Yes Yes
5. TD Ameritrade Yes Yes No Yes Yes Yes Yes
6. Interactive Brokers Yes Yes No Yes Yes Yes
7. Plus500 Yes Yes Yes Yes Yes No Yes
8. IG Yes Yes Yes Yes Yes Yes Yes
9. Fidelity Yes Yes No No Yes
10. Charles Schwab Yes No No Yes Yes
11. Capital.com Yes Yes Yes Yes Yes No Yes

 

Best Online Trading Platforms Fees Comparison

Trading Fees

Stock trading fees Forex trading fees Cryptocurrency trading fees Overnight fees
1. eToro No Variable Spreads

3 pips for EUR/USD

Variable spreads

0.75% for BTC

Charged only for CFDs
2. VantageFX Variable

Spreads

Variable Spreads

1.4 pips for EUR/USD

Yes
3. Robinhood No No No
4. Libertex Variable commissions Commissions

0.0008% EUR/USD

Variable commissions Yes
5. TD Ameritrade 0% for

US stocks

Variable

Spreads

No
6. Interactive Brokers Free for US stocks Commissions Yes
7. Plus500 Variable

Spreads

Variable

Spreads

Variable

Spreads

Yes
8. IG Free US shares

£3 for UK stock

Variable

Spreads

Variable

Spreads

Yes
9. Fidelity Free for US shares No
10. Charles Schwab No

trading fees

Spreads Yes
11. Capital.com Variable

Spreads

Variable Spreads

0.6 pips for EUR/USD

Variable Spreads 0.5% for BTC Yes

 

Trading Platforms Account Comparison

 

Transaction fee Monthly account fee Inactivity fee Minimum deposit
1. eToro No/USD

$5/non USD

No $10/month

after 1 year

$200
2. VantageFX No No No $200
3. Robinhood No $5 month

(for Gold)

No No
4. Libertex No No $5/month

after 3 months

£100
5. TD Ameritrade $25 for wire transfer No No $0
6. Interactive Brokers No No

(for Lite)

No

(for Lite)

$0
7. Plus500 No No £10/month

after 3 months

$100
8. IG No No £12/month

after 2 years

$250
9. Fidelity No No No $0
10. Charles Schwab No No No $0
11. Capital.com No No No $20

 

How To Use The Best Online Trading Platforms – Beginners Guide

Now, when we have introduced all the best online trading platforms to use in 2021, let’s navigate the complete process of buying assets. We decided to introduce this process with eToro, an online broker that offers the best social trading tools and commission-free trading to its users worldwide.

The process is usually the same with all the trading platforms, so the main steps include registering for an online account, depositing funds, and trading. Let’s discuss these steps separately.

Open An Account

When you visit the eToro website, you will see the “Join Now” button on the above right of the platform. Clicking on it, a registration window will open in front of you where you must create a username, password and provide your email.

To finish the registration process, you must fill in more personal information, including your name, surname, birth date, address, etc. The process also requires answering the questions eToro will also ask you about your trading experience, goals, etc.

Then comes the KYC process, where you must verify your account with Proof of Identity and Proof Address. It means that you should upload a copy of your passport or driver’s license and a utility bill or a bank statement. It usually takes up to three business days to get a verified account on eToro. However, during that period, you can explore the educational content of the platform.

Deposit Funds

When you have your account verified, it’s time to deposit funds on it. eToro requires a minimum deposit of $200 to allow you to trade on its platform. Plus, there is a 0.5% conversion fee if you are not depositing money in USD. eToro offers multiple methods to fund your account:

Start Trading

The next step is to look for the asset you want to trade and search it in the search toolbar. However, if you have not chosen what you want to trade, you can browse on the platform to find out what it offers and select the most suited for you.

Having decided what asset you want to trade, click on the “Buy” button, after which you will see a window where you can fill in the amount you want to buy. If the market is open, you can buy the asset immediately. If you make a purchase during the non-trading hours, you must place an order, and your broker will take care that your order is completed when the market opens.

Which Trading Platform Is Best For You? What To Consider When Choosing The Best Online Trading Platform on 2021

For beginners, selecting the best online trading platform can be quite a complicated process. More and more online brokers emerge nowadays that offer various trading options with different fee policies. To make the best decision, here are some factors to consider when you look for a suitable online broker.

Regulations

The regulatory system is the most important thing to consider when you select an online broker. Perhaps, it’s even more crucial than the fees it charges. As you are going to trust your capital to a trading platform, the platform must be licensed by such leading financial institutions as FCA in the UK, SEC and FINRA in the US, CySEC in Cyprus, ASIC in Australia, etc. In this case, your funds are safer and protected.

Fees and Charges

There are various trading and non-trading fees that the brokerage platforms charge for trading the markets. The commission fee is most crucial to consider, as it charges a percentage from you every time you make a buy or sell. Almost all the trading platforms that we offered in our guide provide commission-free trading.

If you decide to trade on a CFD platform, the spread is another significant fee to consider, especially if you plan to open an account for active trading. Some platforms also charge transaction fees every time you fund your account and withdraw money from it. Some other prices include monthly account fees, inactivity fees, margin fees, etc.

Ease of use

If you are a beginner in trading, it’s also essential to check if the online broker you choose provides a simple user interface. Check that you can easily find all the trading tools and assets, make a buy or sell order quickly, etc. For that matter, some brokers also offer you to test the platform on a demonstration account.

Education, Market Research and Analysis

The brokers that we included on our list of best online trading platforms are usually equipped with excellent educational content. platforms that provide resources such as e-books, seminars, articles, and other content help their users develop their trading skills without external websites.

Another great advantage is the research and analyzing resources, including research charts, news, quotes, and other technical tools.

Investment Choice

Online brokers also differ in the diversity of assets they support. While many beginners would choose to invest in just one type of assets, such as only stocks or only cryptocurrencies, others may be interested in trading various assets and markets. Hence, before registering for an online account, check if the platform supports all types of assets you want to invest in.

Demo Account

As previously mentioned, some brokers allow you to test the platform with virtual money before you risk your capital. The demo account allows you to have an experimental account and browse on the trading platform to better understand if it’s suitable for you or not. This experiment is crucial as you get a better idea if you want to use it or not.

Payment Methods

When you open an account on the trading platform, obviously, you must deposit funds on it or withdraw when you make a profit. That’s why firstly, you need to check if the payment methods that the platform supports are available for you. Some platforms provide only bank transfers, which can sometimes take a long time. If you want your funds to be transferred quickly, try to choose a platform that also supports credit and debit cards, PayPal, or e-wallets.

Customer Service

Some trading platforms provide poor customer service that usually only includes email or support tickets. These methods are generally slow versions of getting assistance. As such, you had better select those that provide a phone call or live chat to easily access the support team.

Conclusion On Best Online Trading Platforms 2021

In conclusion, there are plenty of online brokers providing trading services today. It means that you must spend some time exploring them to find the best online trading platforms that suit your requirements.

Some features are crucial to consider when you choose a trading platform, including commissions, other non-trading fees, regulations and safety, assets available on the platform, payment methods, etc.

In terms of all these requirements, our research indicates that eToro is one of the best online trading platforms to use in 2021. First and foremost, it doesn’t charge commissions, supports a wide variety of stocks, cryptocurrencies, commodities, and other assets, is heavily regulated, accepts multiple payment methods, and offers good educational content for the newbies in this sphere.

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Trading Glossary

  • A bear market is a situation in the market when the stock prices fall consistently. The opposite situation is called “Bull Market.”
  • The bid is the highest amount of money that buyers are willing to pay for a particular asset.
  • Blue Chip Stocks are stocks of market-leading companies that also pay dividends to their shareholders.
  • A bond is an instrument that allows you to invest in a government or a company, while the investment is structured like a loan.
  • Day Trading is a trading strategy when the trader buys and sells a particular asset on the same trading day, before the close of the market on that day.
  • Diversification is a risk-management strategy when buyers allocate their capital in multiple assets to reduce the risks.
  • A dividend is a portion of the money that the company pays from its earnings to its stockholders annually or quarterly.
  • ETFs are funds that track an index but can be bought and sold as a company stock.
  • Fractional Shares are small pieces of a stock of a company that is less than one full share. Fractional shares are used for beginners with low capital to diversify their portfolios.
  • Futures are financial contracts where buyers agree to buy and sell a particular asset or financial instrument at a predetermined day and price.
  • Management Fee is a type of fee paid to your funds’ advisor to manage your assets.
  • Mutual Fund is a type of investment where investors pool money to buy more stocks, assets, etc.
  • Short Selling is a trading strategy when a buyer borrows an asset or a financial instrument from the broker and sells it with an expectation to buy it and return later with less money.
  • Spread is the difference between the buy and sell price. The higher the spreads, the more money buyers will lose. Stocks of giant companies or most famous currency pairs usually have higher spreads.
  • Stock Symbol is a combination of characters or letters under which the company is traded on the stock exchange. For example, Tesla is traded on NASDAQ as TSLA, Microsoft as MSFT, etc.
  • Trade Commissions, also known as trading fees, are fees charged by brokers when the client buys or sells a particular asset.
  • Volatility is a statistic that measures the price fluctuations of a particular asset.

1. What is the best trading platform?

2. What is the best stock trading platform?

3. Which online broker is best for beginners?

4. How do you buy stocks online?

5. Is online trading safe?

About James Diko PRO INVESTOR

James Diko is a content writer/editor and also a Crypto enthusiast with years of experience as an investor/trader in the crypto market. James believes Cryptocurrency is the future of the Fintech industry, and it is his passion to enlighten people about it. As a result, James has written articles on many aspects of the Cryptoverse through thorough research and analysis, reviewing different trading platforms including crypto trading, forex, and stock trading. Now, James writes honest reviews about trading platforms and automated trading tools to guide inexperienced traders and help intending users make good choices.