10 Best Stock Brokers for Online Trading in 2024

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Different types of trading opportunities exist today. Some trades give you the ability to invest for long-term profits. Stock is a good example, allowing you to buy shares in companies. These shares can be held for a period of time and then sold once the value rises. Buying shares at the right time can bring about a significant profit if the company’s stock gains in value, but without the right data to back up your plan, you may end up losing instead. Similar to other trading options, when investing in stocks, it is important to consider the risks.

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Below you will find all the information.


If you are looking to start stock trading on the internet, then this guide is for you.

We look at some of the best online stock brokers that you can use in 2024. Each broker is hand-selected by our team, after careful consideration and taking everything offered by the company into account.

Best Online Stock Brokers In 2024

Important!

We want you to be sure that the company you register with can be trusted - which is why we have done extensive research. We looked at a large number of factors, in order to bring you only the top options when it comes to picking a stock brokerage firm. Below, you’ll find a quick overview of our selections - these are currently the best stock brokers that you can invest your money with.

Position Logo Broker Min. deposit Leverage
Position: 1
7.75
eToro
Overall score: 7.75/10
Min. deposit: From $50 Leverage: 1:30
Position: 2
7.63
eOption
Overall score: 7.63/10
Min. deposit: $1 Leverage: 1:1
Position: 3
Logo DEGIRO
7.57
DEGIRO
Overall score: 7.57/10
Min. deposit: $1 Leverage: 1:1
4
Position: 4
7.51
CapTrader
Overall score: 7.51/10
Min. deposit: $2000 Leverage: 1:20
5
Position: 5
Logo Ally Bank
6.67
Ally Bank
Overall score: 6.67/10
Min. deposit: $250 Leverage: 1:200
6
Position: 6
0
Saxo Bank
Overall score: 0/10
Min. deposit: $1 Leverage: 1:30
7
Position: 7
Logo Revolut
7.69
Revolut
Overall score: 7.69/10
Min. deposit: $1 Leverage: 1:30
8
Position: 8
Logo Interactive Brokers
7.45
Interactive Brokers
Overall score: 7.45/10
Min. deposit: $1 Leverage: 1:1000
9
Position: 9
Logo M1 Finance
7.33
M1 Finance
Overall score: 7.33/10
Min. deposit: $100 Leverage: 1:1
10
Position: 10
Logo SoFi Invest
7.27
SoFi Invest
Overall score: 7.27/10
Min. deposit: $1 Leverage: 1:1
11
Position: 11
Logo Fidelity
7.21
Fidelity
Overall score: 7.21/10
Min. deposit: $1 Leverage: 1:1
12
Position: 12
Logo Charles Schwab
7.15
Charles Schwab
Overall score: 7.15/10
Min. deposit: $1 Leverage: 1:2
13
Position: 13
Logo Webull
7.09
Webull
Overall score: 7.09/10
Min. deposit: $1 Leverage: 1:2
14
Position: 14
Logo Ninjatrader
7.03
Ninjatrader
Overall score: 7.03/10
Min. deposit: $50 Leverage: 0
15
Position: 15
Logo ETrade
6.97
ETrade
Overall score: 6.97/10
Min. deposit: $1 Leverage: 1:1.5
16
Position: 16
Logo Robinhood
6.91
Robinhood
Overall score: 6.91/10
Min. deposit: $2000 Leverage: 1:500
17
Position: 17
Logo TD Ameritrade
6.85
TD Ameritrade
Overall score: 6.85/10
Min. deposit: $1 Leverage: 1:2
18
Position: 18
Logo TradeStation
6.79
TradeStation
Overall score: 6.79/10
Min. deposit: $500 Leverage: 1:50
19
Position: 19
Logo Zerodha
6.73
Zerodha
Overall score: 6.73/10
Min. deposit: $1 Leverage: 1:1
20
Position: 20
Logo ChoiceTrade
6.61
ChoiceTrade
Overall score: 6.61/10
Min. deposit: $100 Leverage: 1:3

Change of Positions in the TOP-5 Stock Brokers in the World in 2024

Average score of the Top 5 Stock brokers on the Traders Union ratings list

7.75/10
eToro
7.63/10
eOption
7.57/10
DEGIRO
7.51/10
CapTrader
6.67/10
Ally Bank
Information

We have made thematic ratings of stock brokers against several parameters to ease your burden of selecting the best broker for your needs.

Top 3 Online Stock Brokers Overview

Stock brokerage and investment is not something new. It has been around for a long time, but people used to invest by visiting local brokers. Sure, this had benefits, but it also came with large commission fees in most cases. With the rise of online brokers and agencies, trading has become much more affordable. You are now also given more control over your own portfolio, allowing you to buy or sell the stock with just a few clicks.

Online brokers give you access to a digital platform that you can use to check stock prices and place orders. You can initiate a buy of stock or sell stock that you currently hold in your portfolio.

Below, we'll give you a quick overview of our top three online stock brokers. These brokers are all reputable and have been operating for several years. Millions of people have traded through these brokers. We'll take a look at what each broker offers, how you can go about setting up an account, and share other factors that you need to consider.

  • 1
    eToro
    The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.
  • 2
    eOption
    The eOption broker (eoption.com) is an American stockbroker headquartered in Glenview, Illinois. It has been operating since 2007 and is a member of FINRA (CRD#: 7297/SEC#: 8-21765) and SIPC. It specializes in options trading and also acts as an intermediary in trades involving the popular securities classes. The company offers low trading commissions, super-fast execution of orders, and modern platforms with an advanced set of analytical tools. In 2020-2021, eOption was recognized as the best options broker by several resources such as Investopedia, The Tokenist, Benzinga, Investormint, and NerdWallet.
  • 3
    Ally Bank
    The Ally Bank broker is part of Ally Financial Inc., which is an American holding company. The original company was created in 1919 by the General Motors automobile corporation to conduct activities with its auto parts suppliers and associated automobile dealerships. In 2014, Ally started offering banking products, and since 2017, it has also offered brokerage services. Currently, it operates solely as an online bank and brokerage firm and has no physical branches. It does, however, offer favorable terms of cooperation at consistently competitive rates with professional round-the-clock support. The company's services are used by more than 8.1 million customers globally.

Stock Broker Fees Comparison

While we’ve shared a selection of three top brokers for investing in stock, you may still find it hard to get an option that perfectly fits your requirements and preferences. That is why we look at 10 different platforms in this post. In this section, we will compare several features of these 10 platforms. This will help you understand how you can deposit money, withdraw your profits, and what fees are payable on each platform. Use this data to help you make a more informed decision when choosing a stockbroker that is right for you.
Logo Broker Minimum Deposit Withdrawal Fees Transaction Fees Open an account
Logo eToro eToro From $50 $5 Yes eToro REVIEW
Logo eOption eOption $1 From $2.09 Yes eOption REVIEW
Logo DEGIRO DEGIRO $1 1.5$ There is a bank commission DEGIRO REVIEW
Logo CapTrader CapTrader $2000 From $3.75 Yes CapTrader REVIEW
Logo Ally Bank Ally Bank $250 From $7 Yes Ally Bank REVIEW

Stock Trading Platforms Comparison

Having the freedom to trade from anywhere is one of the many benefits that the internet has given us. With this in mind, when looking for an online broker, consider the platforms that are supported. While a majority do offer mobile and desktop apps, this is not the case with every platform. Make sure the company you use for shares online trading can deliver a platform you can access on your preferred devices. The best stock trading platform is sometimes cited as MetaTrader, which is why we decided to include this software in the comparison table below.

Broker Web Mobile Desktop MetaTrader
eToro Yes Yes No No
eOption Yes Yes Yes No
TD Ameritrade Yes Yes Yes No
Fidelity Yes Yes No No
Robinhood Yes Yes No No
Etrade Yes Yes Yes No
Webull Yes Yes Yes Yes
Charles Schwab Yes No No No
Interactive Brokers Yes Yes No Yes
Ally Invest Yes Yes No No

Online Brokers Withdrawal Methods Comparison

Depositing funds for stock trading is generally simple and straightforward. Many companies offer support for card payments, bank transfers, and more. When it comes to withdrawing, however, choices are often more limited. This is why you should always take a closer look at the withdrawal methods offered before deciding to register for a stock brokerage account. In the comparison table below, we look at our top 10 platforms and the withdrawal methods each supports. Some companies are also able to give you a customized debit card that makes loading your funds quick and easy.

Broker ACH Wire Transfer Check Debit Card
eToro Yes Yes Yes No
eOption Yes Yes Yes No
TD Ameritrade Yes Yes Yes No
Fidelity Yes Yes Yes No
Robinhood Yes Yes No Yes
Etrade Yes Yes No Yes
Webull Yes Yes No No
Charles Schwab Yes Yes No No
Interactive Brokers Yes Yes Yes No
Ally Invest Yes Yes Yes No

Top 5 Stock Brokers for Beginner Traders

Not sure what your best option is if you are completely new to stock trading and investing? Then you should look at the beginner-friendly features offered by brokers. Some brokers have features that make them more ideal for people who are new to trading. On the other hand, some brokers use a system that is more advanced - making it difficult for beginners to get the hang of how things work.

We’ve inspected our list of brokers to bring you the top options with beginner-friendly features and interfaces. Some of these brokers offer access to more than 5000 stocks to invest in, allowing you to easily diversify your portfolio from an early stage.

Broker Stock Options Training Provided? Demo Account?
Webull 5000+ stock options Yes Yes
Tastyworks Frequently changes Yes Yes
TD Ameritrade 3 categories; new stock options added frequently Yes Yes
Robinhood 5000+ stock options Yes Yes
Fidelity 3500+ stock options Yes Yes

How To Buy Stocks Online

Now that we have looked at some of the best online brokers that can be used for buying and selling stock, you might find yourself interested in learning more. If you want to learn how to buy stocks online, then this section is for you. We provide a five-step mini guide that gives you the processes to follow - by step five, you will have your very first set of shares in your portfolio.

  • 1

    Consider Your Budget

    Before you sign up at an online broker, it is important to consider how much you can invest. This is an important step, as the minimum deposit requirements differ from one broker to another. With some brokers, you can get started with as little as $5 or $10. Other brokers require a more substantial opening deposit.

    Take a good look at your budget and determine how much money you are going to set out for stock trading purposes. A larger amount can bring you more profits but, at the same time, also holds more risks. Make sure the money you invest is not money you rely on to buy groceries or to pay your bills. Just as with other types of investments, there are risks involved. Additionally, you may need to continue with the process for several months before you make enough profit to withdraw. Even though your profits may at first seem insignificant when investing a small amount, it’s a starting point.

  • 2

    Choose A Broker

    When you know how much money you will be investing in stock, the process of choosing among the best online brokers is much easier. You should look for a broker that matches your preferences and needs while still allowing you to make a deposit that is suitable for your budget.

    You could make a list of a few brokers that fit your budget - then do some more research on each of them to see how well they suit your needs and preferences.

  • 3

    Research And Choosing Stock

    After registering an account with your chosen broker and going through the verification process, you should start doing some research. Some brokers will list some of the best-performing stocks or give you an overview of the latest trending stock options. This can be helpful when deciding which stock to buy - but you shouldn’t limit yourself to these.

    See if the broker you chose has any type of news feeds available - nearly all do. These feeds often hold valuable information related to stock shares of various companies. You can use this data to determine which companies are worth investing in and which stocks you should avoid.

  • 4

    Fund Your Account

    Funding your account shouldn't be difficult. Take a look at the funding options available on the platform, and then choose the one that suits you best. Follow the instructions provided and deposit the money that you have set aside earlier.

  • 5

    Purchase Stocks

    The final step is to use the funds that you deposited into your account to buy shares. After buying the shares, be sure to frequently check up on price changes. If you expect a fall in share value, it might be time to pull out and sell the stock in your portfolio.

Top 7 Benefits of Trading Stocks

  • 1

    Many stock brokers do not charge trading fees

  • 2

    Huge choice of trading instruments

  • 3

    Thousands of shares suitable for active trading

  • 4

    You can start with a minimum amount – even just several dollars

  • 5

    Long-term profitability of the U.S. stock market is higher than that of bonds and the majority of other types of assets

  • 6

    There is a good chance of investing in successful companies at the early stages

  • 7

    You can earn income from the growth of profit of the most successful companies in the world

Top stock market affiliate programs

Best Stock Brokers for Day Trading

In our ranking, Degiro and eToro are among the best for day trading. Degiro offers low trading fees and a user-friendly platform for trading in international markets. eToro is a social trading platform that offers commission-free trading on stocks and ETFs and enables traders to follow and copy the trades of other successful traders. eOption is a low-cost online broker, offering fast trade executions and competitive pricing. While all three have advantages and limitations, they offer fast execution, low fees, and reliable trading platforms suitable for day trading.

How Much Money Do You Need to Start Stock trading?

Well, the truth is, there isn't a one-size-fits-all answer to that question. The amount of money you need depends on your goals, risk tolerance, and the trading strategy you want to use.

If you're looking to make big gains quickly, you'll need more money to start with. On the other hand, if you're more cautious and looking to make long-term investments, you could start with a smaller amount of money. It's also worth noting that some trading strategies, like day trading, require more capital to cover potential losses and margin calls.

All that being said, as a general rule of thumb, we recommended you start with at least $1,000 to $2,000. This amount should allow you to diversify your portfolio and manage risk effectively. Of course, if you have more money to invest, that's great too, but don't feel like you need to have a huge amount of money to get started with stock trading.

Tips for Successful Stock Trading

If you're a beginner investor looking to get your feet wet in the stock market, it's important to understand that trading stocks is not a surefire way to make money. There are risks associated with investing in the stock market, and there's no guarantee of success. But if you have a clear plan and strategy, you can reduce your risk and increase your chances for success. Here are some tips for successful stock trading and risk minimization.

Do Your Research

Before investing any amount of money in the stock market, do your research. It's important to understand stock trading basics, such as how stocks are priced and what factors influence their movement. You should also become familiar with different types of orders (market orders, limit orders, stop orders) so you know how to buy or sell shares at the right time. Additionally, be sure to thoroughly research each company whose stocks you intend to purchase so you can make an informed decision.

Set Goals and Manage Risk

When trading stocks, it's important to set realistic goals and manage your risk exposure by diversifying across multiple stocks instead of investing all your money into one security or sector. This will help spread out any losses over several different investments instead of risking it all on one stock that may experience significant fluctuations in price due to news or other events. Additionally, keep track of your portfolio regularly so that you can adjust, if necessary, when changes occur in the markets or underlying securities you hold.

Utilize Stop Loss Orders

Traders use stop-loss orders as an automated order type that triggers when a certain price level has been reached (either up or down). This order type helps protect investors from suffering large losses by automatically selling off their position at a predetermined price point if it moves against them too quickly or declines beyond a certain level. Utilizing stop-loss orders can help reduce risk and protect investor capital from large losses due to sudden price movements that happen unexpectedly on volatile market days.

Diversify Your Portfolio

When it comes to stock trading, diversifying your investments is key to minimizing risk and ensuring maximum returns. Instead of investing all of your money into one or two stocks, spread your investment across different sectors. This way, if one stock takes a dip, the rest of your portfolio will still be healthy and profitable.

Is Stock Trading Safe?

Stock trading is inherently risky, and there are no guarantees of profits. The stock market is subject to various factors, including market fluctuations, economic indicators, and company-specific news, which can impact stock prices. While you may be able to anticipate some of these, others are unpredictable and can lead to sudden and significant fluctuations in stock prices.

You should be aware of the risks involved in stock trading and take steps to minimize these risks. This can include diversifying their portfolio to reduce the impact of any single stock or sector and conducting thorough research to make informed investment decisions. While there are potential rewards to stock trading, it's important to approach it with a level-headed and informed perspective to help mitigate the risks.

Methodology

There are thousands of companies offering stock trading services on the internet. One company conducted research and found that over 1,200 brokerages support MetaTrader 4 - and thousands more have their own web-based trading platforms or mobile apps. It can be incredibly difficult to find one specific company to sign up with when faced with so many options.

This is why we devised a plan from the start. This plan was developed to help us filter through lists of online brokers and come up with a more concentrated list. We then proceeded to analyze each of the companies on the small list in order to bring you 10 of the best online brokers that you can use when investing in stocks.

Below is an overview of what we considered while doing research and taking a look at the online brokers that came up on our list.

  • Stock Options:

    When it comes to investing in stock, diversity is important. While you may only buy stock of one or two companies at first, you want to diversify your portfolio later on. This is why we looked at the stocks available at each broker. We preferred brokers who are able to offer access to a wide variety of stocks.

  • Fees:

    Some brokers charge fees for subscriptions or to use their platforms. There are also fees associated with deposits, withdrawals, and the transactions you make. Unfortunately, this can eventually add up to high monthly prices - which means you will be making less profit. We focused on ensuring the brokers we shared have low fees associated with transactions, withdrawals, and deposits. These brokers also do not charge for access to their platform.

  • Platforms:

    Some people prefer to trade while they are at home, while others rather want to initiate a buy or sell action on the go. We focused on providing a list of brokers that offer versatility in terms of platforms - offering desktop, web trading, and mobile versions. This ensures you can gain access to the trading platform at any time and from anywhere.

  • Training:

    We want beginners to have a good opportunity to earn profit from their stock investments. This is why we also prioritized the online brokers that give their customers access to top-quality training and educational resources.

  • Customer Support:

    Another factor we considered while doing research is customer support. When you have a question or a problem with your account, you do not want to wait two weeks before you get support. We searched for companies that are able to offer efficient, fast, and expert support to every customer. Many of the brokers in our list even have a live chat function on their website - this helps you get in touch with a customer service agent without having to wait several hours for a reply.

  • Authenticity:

    Apart from the factors above, authenticity is another crucial factor that we look at. Companies offering broker services need to be licensed with the appropriate authorities. Additionally, these companies should also be regulated. This is why all of the options we shared are both licensed and regulated, ensuring your money is safe while investing in the stock market.

Opinion of Traders Union’s Expert

Stock trading offers an investment opportunity that can generate significant profits in a relatively short period of time, but that also comes with high risks. Choosing one of the best online brokers is the first step to success with stock trading. There are several online stock brokers that help you buy and sell stocks. When choosing a stock, make sure you do research, ensure the broker you register with offers educational resources, and know when to initiate a buy or sell position. We looked at some of the best brokers that you should consider signing up with if you want to get into stock trading in 2024. These have been hand-picked to ensure you get a platform that is trustworthy and suitable for both your budget and your needs.

Anton Kharitonov
Financial expert and analyst at Traders Union

FAQs

Which is the best online stock broker?

The best online stock broker can depend on an individual's needs and preferences. Some popular options include eToro and DEGIRO, which offer a range of features, including low fees, ease of use, and access to various markets.

Which broker is best for trading for beginners?

For beginners, choosing a broker with a user-friendly platform and educational resources is important to help them learn the basics of trading.

Who is the No 1 broker?

The ranking of brokers can vary depending on the criteria used. However, according to some sources, DEGIRO is ranked as the top broker overall based on factors such as fees, trading platform, and customer service.

Can you get rich from penny stocks?

The question should rather be, can you make money from penny stocks. Getting rich from penny stocks is something that doesn't happen often, yet there have been cases where people have gained a significant amount of profit. A good example would be the Monster beverage company. By 2004, a stock had a price of $0.12. Today, the price of shares in the Monster beverage company had grown by over 60,000%. Thus, people who invested in these penny stocks over a decade ago now have significant profits to enjoy.

This is, however, quite a rare case. Most people who invest in penny stocks will only gain a small amount of profit if any. This does not mean it is not profitable. If you do your research and invest in the right companies, you could still profit. The goal would be to find those companies that have the most potential to grow - and to get stock while the prices are still low.

How do I buy my first stock?

Stock trading is not something you should jump into blindly. You can easily lose your entire investment - as many other people have experienced first hand in the past. If you are looking to buy your first stock, then education should be a priority. Make sure you educate yourself on how stock trading works and get access to the right tools. A good idea is also to get a demo account up and use that to do stock trading for a while. Use the demo account while you are educating yourself - up to the point where you understand how to make more accurate predictions.

Once you are ready to buy stocks with real money, ensure you sign up with a trusted broker. Don’t invest too much. Experts generally advise beginners to never invest more than they can afford to lose.

How much should I invest?

One of the most common questions related to stock trading and investing is how much to start with. Some people would advise you to start out with over $1,000, while others may suggest an amount of about $200.

Truth is, you can start with any amount you feel comfortable with. There is no set minimum. Some of the top traders started out with just a minimal investment, then worked their way up from there. It is possible to trade and profit with a small investment. The profits will just be small at first - but if you do your homework and make successful trades, your profits can be used to increase your investments.

With this in mind, you should decide how much you can invest. Some companies offer low minimum deposits - sometimes as low as $10. While this seems insignificant to an expert trader who has already made their one-million mark, it can still be something for you to start with.

Is stock trading risky?

As with any other type of trading opportunity, buying and selling stock does come with risks. The specific level of risk you take on depends on a couple of factors. Finding a reputable company can help to lower your risk, as they will usually offer you analytical tools, as well as quality education.

Overall, make sure you understand that there will always be a risk of losing your investment. Stock prices can plummet overnight - but there is also the chance that these prices could increase just as quickly. Thus, it is a risky trade but worthy for some people.

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