With advances in technology, it has become easier for investors to trade online. Investors must know the best online trading platforms to add value to their portfolio. Many brokers are known for their excellent customer service and trading tools. The right online platform will make a huge difference in the way you trade and the amount of money you make. The first step towards building a strong portfolio is, therefore, choosing the right platform to trade on.
While a few trading platforms are ideal for traders, others are suitable for investors. Consider your investment purpose and choose the best online trading platform from the list below:
This online platform is perfect for traders and requires no deposit. It offers a free trade for 60 days and has been ranked as one of the best online trading platforms for 2018. It allows 24×7 trading and has tools as well as mobile applications, which have made it an award-winning platform for beginners as well as professionals.
Fidelity Investments is a trading platform suitable for investors. It requires a minimum deposit of around $2,500 and offers around 500 free trades for 2 years. It is known for its exemplary customer experience and is appreciated for its quality order execution. It is easy to use and is ranked at the top in terms of research tools.
This online platform is known for the best reward program and requires a zero deposit. It has an offer where you invest in a new account and get around $600. Investors may enjoy around 30 free trades in a month with a $50,000 three-month average balance.
E*TRADE is best known for options trading and has a minimum deposit requirement of around $500. It offers free trades for 60 days, and you may get around $600 on sign up. It is ranked at the top for mobile trading services.
It is best to compare the offers and the features of different online platforms before you open your account. You will also need to consider the costs associated with each trade because that will matter in the long term. For instance, Fidelity charges around $4.95 per trade whereas E*TRADE’s cost per trade stands at around $6.95. Hence, it is important to compare every account and then decide on the best online trading platform that fits your investment criteria and is easy to use.