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5 Best Online Brokers & Trading Platforms of 2022

Choosing the right online broker can be a challenging task due to all of the available online brokerage accounts nowadays. I remember growing up as a kid when there were far fewer options to choose from.

We’ve personally tested dozens of the best online brokers over the years and decided to list our top 5 recommended brokers to help you choose a broker much quicker.

Our recommendations derive from using these following apps for countless hours and testing nearly every feature available.

The Best Online Brokers for August 2022

Best Online Broker for Beginners
Best Online Broker for Day Traders
Best Broker for Social Trading
4.0
3.5
4.0
Fees:
$0 for stocks and options
Fees:
$0 for stocks and options
Fees:
$0 for stocks; No options trading available
Account Minimums:
$0
Account Minimums:
$0
Account Minimums:
$10
Promotion:
Up to $600 in Transfer Bonuses
Promotion:
Up to 12 free stocks valued $30,600
Promotion:
$30 when you make first deposit
Best Online Broker for Beginners
4.0
Fees:
$0 for stocks and options
Account Minimums:
$0
Promotion:
Up to $600 in Transfer Bonuses
Best Online Broker for Day Traders
3.5
Fees:
$0 for stocks and options
Account Minimums:
$0
Promotion:
Up to 12 free stocks valued $30,600
Best Broker for Social Trading
4.0
Fees:
$0 for stocks; No options trading available
Account Minimums:
$10
Promotion:
$30 when you make first deposit

Robinhood

Robinhood was an early disrupter in the brokerage industry and led the commission free trading movement with its simple, bare bonds trading platform.

I like Robinhood because it’s fast, easy to use, and makes trading exciting with its bouncing stock charts.

Best of all, Robinhood charges zero fees on stocks, options, and ETF trades. You can trade 12 cryptocurrencies on the platform as well including Bitcoin, Ethereum, Dogecoin, and Shiba Inu.

What Robinhood lacks is cetain types of accounts such as retirement IRAs, custodial, and corprate accounts. That’s okay because Robinhood is built by retail traders and for retail traders.

The company got into trouble during the January 2021 Gamestop & AMC crisis by not allowing users to buy heavily shorted stocks.

It was a mess but things have cooled off since then. Robinhood is one of the few publicly traded brokerage firms on the NASDAQ under the ticker symbol: HOOD. Crypto billionaire Sam Bankman-Fried bought a 7.6% stake in the company so the risk of bankruptcy seems unlikely.

If you are looking for a simple and easy to understand trading platform without extra features then Robinhood is a good choice for beginner investors.

Fidelity

Webull

Robinhood