Best Stock Brokers and Platforms in the U.S. 2022

Our team of experts in the financial market has spent more than 150+ hours testing and reviewing all the leading stock brokers and platforms in the U.S. We’ve collected the results of our work in the following trading guide. 

Here are the Best Stock Brokers & Platforms in the U.S.

• Best Stock Broker: TD Ameritrade
• Best Share and Stock Trading Platform: E*Trade
• Cheapest Stock Broker: Robinhood
• Best Stock Broker for Beginners: Oanda
• Best Online Trading Platform for Day Trading: Interactive Brokers
• Best Free Stock Trading Platform: Robinhood

Which is the Best Stock Broker in the U.S.?

We consider TD Ameritrade as the best stock trading platform. The broker has a great selection of trading platforms, allowing you to choose the most suitable one. 

Moreover, TD Ameritrade allows you to choose among a wide variety of tradable stocks and other securities, including ETFs and options. TD Ameritrade provides 300+ technical charts and indicators and nearly 80 currency pairs. The broker has more than 12 million active users, and most of them are U.S. clients.

Unfortunately, some traders complained that they do not receive a quick response from the customer service. Moreover, they have to wait for hours when they call TD Ameritrade’s customer support. 

Which is the Best Share and Stock Trading Platform in the U.S.?

After countless hours of testing and reviewing, we are convinced that E*Trade is the U.S.’s best share and stock trading platform. 

The broker has operated for nearly 40 years and has about 5.2 million retail brokerage accounts. E*Trade offers commission-free trading on all stocks and options listed on the U.S. stock exchange. The broker also has free account registration.

We have, however, found some reviews about poor customer support during our search: some users claim that customer service is often not available and they have to wait a long time for an answer.

Which is the Cheapest Stock Broker in the U.S.? 

After extensive testing of various stock brokers, we have concluded that Robinhood is the cheapest American financial services company in the U.S.

The broker has a useful and well-designed trading app, where you get commission-free trading with securities, ETFs, and options that are allowed in the U.S. Robinhood is considered entirely safe, as it is a FINRA regulated stock broker and is registered with the US Securities and Exchange Commission.

Since the broker is new, it still has a limited selection of stocks. 

Which is the Best Stock Broker for Beginners in the U.S.?

Oanda was founded in 1996 and is one of the best brokers for beginners right now. Oanda’s advantages are innovative trading methods, a powerful and easy-to-use trading platform, and quality customer service.

The broker is suitable for beginners as it has up-to-date educational materials, including courses and webinars. Moreover, you can use a free demo account to trade virtual funds and familiarize the trading platform faster and without any risk. 

Unfortunately, Oanda has relatively high fees and commissions, including fixed commission per trade. 

Which is the Best Online Trading Platform for Day Trading in the U.S.? 

Interactive Brokers (IBKR) is one of the biggest American multinational brokerage firms, with more than one million active users. Traders have the opportunity to trade stocks, bonds, options, and more. 

IBKR has a user-friendly and well-designed stock trading platform. The broker has a large number of useful instruments, analytical and mathematical risk-assessment tools. 

Interactive Brokers is recommended for professional traders with extensive experience. It will be difficult for novice traders to start to trade using IBKR.

Unfortunately, some traders claim that IBKR has a long processing time for withdrawals.

Which is the Best Free Stock Trading Platform in the U.S.?

 

Robinhood is the best free stock broker in the U.S. The broker has operated for only seven years on the trading market, but it has already conquered more than 13 million users’ hearts. 

Robinhood gives you the ability to trade stocks and ETFs with zero commission. Instead of paying commissions and fees, Robinhood takes out interest on all their users’ account balances, making it free to use. You can also open an account, use it and transfer funds to your account for free. 

Please note that the Robinhood app doesn’t have a demo account, so you can’t trade with virtual funds.

Trading Guide for Traders in the U.S.

You need to carefully study U.S. trade law before you start trading, as the main thing to consider while trading is your safety. Take into account that U.S. trading regulations are one of the strictest.

Moreover, the United States has several regulatory bodies that control the financial market:

• Safety and Exchange Commission (SEC). This is the U.S. government oversight agency, responsible for regulating the securities markets and protecting investors.

• Commodities Future Trading Commission (CFTC). This organization issues licenses to brokers.

• National Futures Association (NFA). This organization, together with the CFTC, reviews and approves brokers.

• Financial Industry Regulatory Authority (FINRA). This organization is a non-governmental financial regulator.

Bodies also ensure varying degrees of regulations. For example, all FCA brokers must segregate the trader’s funds, whilst CySEC does not support this regulation. 

How to Choose the Best Stock Broker 

You need to test and research a lot of platforms to find the right one. These are the main points to consider when selecting a reliable stock broker in the U.S.:

1. Regulation and broker’s license 

Safety must be the number one thing to consider when choosing a stock broker. Check the broker’s license before you start trading. If your broker has a FINRA license, you can visit FINRA Broker Check or call them. You can also contact your state securities regulator.

2. Educational materials

It is crucial to choose a forex broker according to your trading skills: a good forex trading platform should have up-to-date educational materials that suit both experts and beginners. 

3. Affordable fees

Be sure that the broker you choose has competitive fees and is convenient to use. This means that the broker needs to have the right choice of tools, instruments, and more, as well as low fees. 

FAQs

Conclusion

Our team of professionals have spent many hours researching and testing each trading platform. We have then collected all the essential information and combined it into one article to help our readers find the U.S.’s best stock brokers and platforms. 

Note: No information, nor financial advice related to online trading is offered through the comment.