15 safest and best trading platforms as of 2022: account minimum, fees, deals

15 safest and best trading platforms as of 2022: account minimum, fees, deals

Trading platforms are essentially the bridges between investors and financial markets. These platforms make it possible for people to trade cryptocurrencies, forex pairs, commodities, stocks, and other financial instruments online. Choosing the best trading platform can be quite tricky since one must consider numerous factors, the most important being the fees, usability, trading features, and customer service.

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best crypto trading platform
A screen displaying a trading chart. Photo: pexels.com, @Burak Kebapci
Source: UGC

Trading platforms vary significantly in their financial instruments, charges, pricing and fees, and numerous other definitive aspects. We have rounded up the top platforms today.

Which is the best trading platform in 2022?

Here is a look at 15 great trading platforms for beginners and experienced traders.

15. TD Ameritrade

  • Fees: $0
  • Account minimum: $0

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TD Ameritrade is one of the oldest online brokerage firms in the financial industry. With it, you will find thousands of financial instruments to trade. In the stock trading department, for example, the platform has thousands of shares from numerous countries.

If you are an IPO investor looking for the best day trading platform, you will appreciate Ameritrade’s ability to provide IPO trading. For passive investors, TD Ameritrade has over 10,000 funds available.

Pros

  • Long history makes the firm trustworthy
  • Great research materials are available
  • Strong regulatory standing
  • Huge asset library

Cons

  • The platform is not beginner-friendly
  • Debit card deposits are not supported

14. TradeStation

what is the best crypto trading platform?
Some of the common cryptocurrency symbols. Photo: pexels.com, @Worldspectrum
Source: UGC
  • Fees: $0
  • Account minimum: $500

TradeStation is world-renowned for its excellent desktop trading platform that offers automatic trade executions and direct market access. The platform also allows users to design, monitor, automate, and test custom trading strategies for futures, options, and stocks. The platform also allows crypto trading through its affiliate, TradeStation Crypto.

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Pros

  • High-quality desktop trading platform
  • Huge online research library
  • Commission-free options, stocks, and ETF trades
  • Highly active trader community

Cons

The platform does not have transaction-fee-free mutual funds

The pricing plans outlined on the site can be confusing

13. eToro

  • Fees: 1% for crypto
  • Account minimum: $0

eToro is a trading site that allows users to trade ETFs, stocks, and cryptocurrency for as low as $10. The site has become quite popular over the last few years due to its impressive social trading platform. This allows investors to mirror trades executed by successful traders move for move. This makes it one of the best trading platforms for beginners.

The site currently has an impressive collection of cryptocurrency items and pairs available for trade.

Pros

  • Access to more than 30 cryptocurrencies
  • Low minimum to fund an account and begin investing
  • Social investing makes it easy for beginners to get returns

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Cons

  • Some of the tradable items are not available in some countries

12. Charles Schwab

  • Fees: $0
  • Account minimum: $0

Charles Schwab has consistently stood out in the trading industry for its massive selection of mutual funds, $0 trade commissions and outstanding customer service. In addition, its trading platform has something for both beginner investors and experienced traders.

Pros

  • An intuitive mobile app
  • Commission-free options, ETFs, and stocks
  • Large selection of funds available for trade

Cons

  • The site has a very low default cash sweep rate

11. E*Trade

  • Fees: $0
  • Account minimum: $0

Also stylized as E-Trade, this site has been one of the most popular online brokers for several years now. Its $0-commission policy is particularly appealing to experienced traders, while beginner traders appreciate the extensive research resources available. Currently, E-Trade has more than 4,000 zero-transaction-fee mutual funds and a wide range of bonds, stocks, and ETFs.

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Pros

  • A feature-rich mobile app
  • Beginners can access extensive research materials
  • Easy-to-use trading tools
  • Excellent customer support

Cons

  • The primary website can be quite difficult to navigate

10. Fidelity

  • Fees: $0
  • Account minimum: $0

Fidelity is easily one of the best well-rounded online brokerages available today. Fidelity has something for every trader level with numerous no-expense-ratio index funds, options, EFTs, and stocks. Fidelity is a great option if you want to create a long-term investment portfolio since it offers a wide range of conventional investment items and strategies.

Pros

  • Commendable customer service
  • Expense-ratio-free index funds
  • Large selection of research providers
  • Numerous commission-free stocks, ETF, and options trades

Cons

  • Relatively high broker-assisted trading fees

9. AvaTrade

which trading platform is the best?
Stock movement displayed on a screen. Photo: pexels.com, @energepic
Source: UGC
  • Fees: 0.9 pips
  • Account minimum: $0

AvaTrade is a highly reputable global trading platform known for its extensive selection of CFDs and forex pairs. The site and app also have exceptional education material aimed at improving one’s trading skills. AvaTrade is also regulated in several tier-1 and tier-2 jurisdictions, further raising its safety profile.

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Pros

  • Regulated in 3 tier-1 jurisdictions and 3 tier-2 jurisdictions
  • Offers a social trading platform

Cons

  • The desktop platform is slow to load

8. IQ Option

  • Fees: $0
  • Account minimum: $0

IQ Option allows both beginner and experienced traders to trade on a wide range of financial instruments, including cryptocurrency, commodities, ETFs, forex, stocks, and binary options. Unlike numerous other brokers, IQ Option uses a proprietary trading platform designed to meet the specific needs of its users.

The platform has numerous excellent features, including economic calendars, stock screeners, market updates, volatility alerts, and historical quotes.

Pros

  • Low minimum deposit
  • Low minimum investment amount
  • Access to over 70 trading instruments

Cons

  • Trading is only available via the in-house IQ Option trading platform only

7. FXTM

  • Fees: $5 after 6 months of inactivity
  • Account minimum: $0

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Also known as ForexTime, this site was founded in 2011 and has since become a top forex and CFD brokerage firm. FXTM is regulated by several financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA). The platform’s financial instrument collection is primarily centred on CFDs and forex. Customers outside the European Union also get access to stock trading.

Pros

  • Superb customer service
  • Great educational and research tools
  • Extremely fast account opening

Cons

  • The site has inactivity and withdrawal fees
  • High CFD fees
  • Lacks ETFs, mutual funds, bonds, options, and futures

6. XM

  • Fees: $0
  • Account minimum: $0

The XM Group is a MetaTrader-only broker that offers an outstanding selection of financial instruments and has extensive educational content and market research. Currently, traders have access to more than 50 forex pairs and 1,230 CFDs.

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Pros

  • Excellent research content that includes daily videos, podcasts, and organized articles
  • The site’s in-house broadcasting features TV-quality video content and live recordings.
  • The Autochartist and Trading Central features complement the in-house research offering.

Cons

  • Standard account spreads are quite expensive
  • Average spreads are not published for commission-based accounts

5. Ally Invest

best day trading platform
A printed chart showing forex movements. Photo: pexels.com, @Nataliya Vaitkevich
Source: UGC
  • Fees: $0
  • Account minimum: $0

Ally Invest is a platform that offers traders several self-managed and self-directed financial products at arguably the lowest fee in the industry. The site also has commission-free trading for skilled investors. Besides the $0 account minimum and zero commissions, Ally Invest’s $0.50 fee on options contracts is also trader-friendly.

Pros

  • Commission-free trades on eligible stocks, ETFs, and options
  • No account minimum
  • Robust research materials and tools
  • An impressive web-based platform

Cons

  • No zero-transaction-fee mutual funds

4. Webull

  • Fees: $0
  • Account minimum: $0

Webull is a great trading site for mobile-first traders and casual investors looking for a slick desktop platform. That said, Webull also offers a wide range of financial instruments for active traders but has been known to be significantly lacking when it comes to educational content.

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Pros

  • Low costs
  • Easy-to-use mobile and desktop platform
  • Advanced trading tools
  • Access to cryptocurrency

Cons

  • No mutual funds available for trading
  • Limited educational and research content

3. Zacks Trade

  • Fees: $0.01
  • Account minimum: $2500

Zacks Trade has a robust trading platform offering penny-a-share trades and the option for free broker-assisted trades. The company is also one of the introducing brokers to Interactive Brokers, which means its trading platforms mirror those of the highly reputable firm.

Pros

  • Access to international exchanges
  • Ample educational and research offerings
  • Robust trading platform

Cons

  • Lags behind competitors in terms of commissions
  • High account minimum

2. Merrill Edge

best trading platform for beginners
A person trading on his laptop and mobile phone. Photo: pexels.com, @Yan Krukov
Source: UGC
  • Fees: $0
  • Account minimum: $0

Merrill Edge has a reputation for quality research and educational materials, thousands of stocks and EFTs, and competitive pricing. The site’s rich educational content comes in the form of virtual events, webinars, videos, and podcasts. Merrill Edge also has a powerful tool known as the Idea Builder that assists new investors in finding financial instruments that appeal to them and suit their trading strategies.

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Pros

  • Robust third-party research and educational content
  • No fees or minimums for self-directed accounts

Cons

  • Limited platform capabilities

1. Interactive Brokers

  • Fees: $0
  • Account minimum: $0

Commonly known as IBKR, this platform was founded in 1993 and is renowned for its superior trade execution, low costs, broad market access, and wide range of tradable items. Customers can choose to trade funds, bonds, futures, options, and stocks from over 130 markets. Three years ago, the company launched the Impact Dashboard, a useful tool for evaluating assets before making trades.

Pros

  • Wide range of offerings around the world and across asset classes
  • Superior order execution
  • A wide range of excellent trading tools
  • Low margin interest rates

Cons

  • The platform’s SmartRouter feature is great but not available to some clients
  • The platform can be intimidating to less experienced and less active investors
  • No backtesting of custom trading algorithms or automated trading

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What is the best trading platform?

Which trading platform is the best? Interactive Brokers, commonly known as IBKR, is arguably the best trading all-around trading platform. Its feature-rich site, excellent order execution, and low margin interest rates are among its best features.

What is the best forex trading platform?

For forex traders, CMC Markets is currently the best platform you can trade on. The platform was founded in 1989 and is one of the most highly regarded forex brokerages, and is even traded on the London Stock Exchange.

What is the best crypto trading platform?

The recent rise in cryptocurrency trading has seen the creation and growth of numerous crypto trading sites. Today, Coinbase is the best of them. Besides being extremely beginner-friendly, the platform also offers remarkable security and numerous cryptocurrencies to trade.

What is the best stock trading platform?

Here is a look at the best stock trading platforms based on various aspects.

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  • Fidelity: The best overall and best for beginners.
  • TD Ameritrade: The best in terms of trading platforms and customer service.
  • E-Trade: The best in terms of mobile trading and ease of use.

There are numerous factors to consider when choosing the best trading platform. Some of the most important include market access, ease of use, customer service, and fees. The choice is also largely determined by one’s trading experience since some platforms are more technical than others.

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!

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There are numerous reasons you may want to do a background check on a company. Some of the most common reasons include conducting business deals, buying shares, or issuing credit. Read on to discover how you can ascertain whether a company is registered or not.

Source: Briefly News

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