Did you arrive on this page because you were looking for: “the best online trading platform” in the search engine? If so, congratulations, you are in the right place! In less than 5 minutes, you will find what you are looking for in this article. 

Either for the beginners or professionals who have done this often, knowing the list of the best online trading platforms is important. In today’s busy world, technological advances have made the entire process of investing and managing investments easier.

An online trading platform provides anyone a complete hold on investments, through a smartphone. You can always stay connected with the market. Investing in stocks and trading forex requires constant monitoring of the market. 

However, rather than telling what is the best online trading platforms are, we would like to encourage you to think more deeply. Because you will decide on your own. It is up to your desires and needs after considering the strengths of each platform. 

First, you need to know in advance what an online trading platform is and why you need it.  

 

What is Online Trading Platform

A trading platform is a software used for trading that enables investors and traders to place trades. We can monitor accounts through financial intermediaries such as an online broker. Brokers usually provide an online trading platform for free or at a discount rate. They can do this in exchange for maintaining a funded account and/or making a specified number of trades per month.

Often, trading platforms will come bundled with other features, such as real-time quotes, charting tools, news feeds, and even premium research. Platforms may also be tailored to specific markets, such as stocks, currencies, options, or plans markets. 

Online trading platforms provide all the support and help. It provides secured real-time access to trading, research reports, price analysis of stocks, market news, etc 24 hours/day. You can buy or sell shares if you have a trading account and an internet connection. Not only that, but you can also trade in currency and commodity through one trading platform.

Online trading platforms help you trade with no difficulty as these platforms enable top speed trading. These platforms have revolutionized the way trading is done. Now you can simply download these to your system or mobile and can begin trading anytime, anywhere. 

 

What is Online Trading and How Does it Work? 

Online trading is trading in financial markets via the Internet. Previously, all trading was held in the exchange building in person or by phone. Now, every deal is concluded with the help of an electronic terminal. That is why in recent times, trading in stocks has become as simple as shopping online. Everyone can do that while sitting in a coffee shop. All you need to trade is a smartphone or laptop with Internet access and an installed trading platform. 

To put it simply, online trading goes like this: 

After you open a live online trading account with the online trading platform provided by your broker, the next thing you do is to send money to your trading account. You might discuss it first with your broker about the amount of money you want to spend. Do not worry if you are a beginner, your broker will guide you and give you a lot of advice. Then you are ready to execute your trading plan! 

 

What To Look For When Choosing a Trading Platform? 

There are many trading platforms around you, each has its plus and minus points. Choosing the right one is vital to make trading goes according to your plan. 

  1. Research about the tools used by the brokers and their credibility. 

Often, we can agree that the more trustworthy the company, the better experience you will have. Not only do they have a good online trading platform, but professional brokers must also have a good customer service system and a team of brokers working for them. They will never leave you alone with your doubts. A good broker will provide you someone who will guide you about the technical matters and the matters of trading. 

  1. Verify the spreads and fees for the account and transactions.

The lower they are, the better.  

A good online trading platform will provide you with all the financial instruments and as many markets as possible. This thing is extremely important, especially for beginners who do not have a detailed strategy or planning in trading. If you know in advance what you need, this diversity does not have to be great. But choosing a platform that will provide the most options to you is always a smart move. 

  1. Try their demo account.

A professional trading platform should have a demo, so you should be able to test the tool and make sure that their system is the one that will meet your needs. Ask your broker about all the tool’s functions and how they work. 

  1. Pay attention to the user interface.

Maybe some of you are surprised why the user interface is something important to consider. But remember, if you plan to trade every day, you will face the same interface every day too. Therefore, choosing an interface that makes you easier to make daily transactions is also considered as an important factor. Is it clear, intuitive, easy to use, and, vitally, written in your language?  

  1. Check the configuration options of the investment platform and its functionalities.

The following solutions can be useful to try: browsing several charts simultaneously, changing chart types, scheduling and automatic execution of transactions, access to market analysis and breaking news, alerts informing on interesting investment opportunities, SMS/e-mail alarms about the investor’s position of interest, etc. 

 

The 7 Best Online Trading Platforms You Can Choose 

Like been said before, every platform has its unique characteristics and its own pros and cons, so it’s best to understand what you want before you sign up with a broker. You should ask many questions to your broker and learn more about the best options for trading platforms to determine which one may suit your needs. 

 

  1. TD Ameritrade  

TD Ameritrade requires a $0 minimum investment and delivers standout features, including extensive and free research and data, portfolio-building guidance, $0 commissions for stock options and exchange-traded fund trades and nearly 300 branches for in-person customer support. Investors have a choice of four trading platforms. 

Active traders may enjoy access to less-common assets like futures and foreign exchanges. Newer traders could enjoy exploring TD’s various platforms to learn the ropes. The basic web platform supports simple and multi-condition orders. Experienced options traders may want to consider Thinkorswim, TD Ameritrade’s paid platform that provides options, statistics, trigger orders, and more. 

Note: In November 2019, Charles Schwab announced that it is gaining TD Ameritrade. The acquisition is expected to close by the end of 2020. Once closed, it’s likely that they will combine TD Ameritrade platforms and Charles Schwab platforms into one. 

Trade costs: $0.65 per contract 

Account minimum: $0 

Recurring fees: None 

Pros: Commission-free stock, ETF and options trades, free research, high-quality trading platforms, no account minimum, qualified customer support, extensive investment selection 

Cons: Costly broker-assisted trades, uncertainty surrounding trading platforms after Schwab acquisition, high costs for margin traders 

 

  1. Charles Schwab 

Beginners will probably feel right at home learning how options trading works and building their skills on Charles Schwab’s platform. Charles Schwab has educational resources beginners will need to navigate investing, while sophisticated tools and $0 commissions will attract active traders. 

Price-wise, Schwab charges no base fee and a $0.65 per contract fee. That matches pricing from TD Ameritrade.  

And as you become more experienced, Schwab’s tools grow with you. You have access to advanced charting tools and trade calculators built into Schwab’s investment platforms. You can trade online or use the advanced StreetSmart trading platform, which has most features expert options traders would want. 

 Trade costs: $0.65 per contract 

Account minimum: $0 

Recurring fees: None 

Pros: Two platforms with no minimum or fees, above-average mobile app, extensive research, extensive fund selection, commission-free stock, options and ETF trades 

Cons: Low default cash sweep rate, advanced trading platform lags some options-focused competitors, strict margin trading rules and relatively top margin rates 

 

  1. Interactive Brokers (Lite & Pro) 

Interactive Brokers is a top brokerage for advanced and active options traders. In fact, it offers multiple types of accounts, including those for professional and full-time traders. But even without millions under management, serious options traders could find their needs well-covered at Interactive Brokers. 

Interactive Brokers has long been a popular broker for advanced traders, but in 2019 the company launched a second tier of service — IBKR Lite — for more casual investors. 

With IBKR Lite, you get unlimited free trades of stocks and exchange-traded funds that are listed on U.S. exchanges. If you’re interested in trading other investments, including options, futures, mutual funds, fixed income and more, you can do that on 125 markets in 31 countries with a Lite account, but the trading costs will be the same as what IBKR Pro investors pay. However, IBKR Pro account holders must keep a $100,000 balance or generate $10 in commissions per month to avoid a $10 monthly inactivity fee. 

Trade costs: $0.65 per contract or less with tiered pricing 

Account minimum: $0 

Recurring fees: None for IBKR Lite, up to $10 per month for IBKR Pro 

Pros: Extensive investment selection, strong research and tools, over 4,300 no-transaction-fee mutual funds 

Cons: Website is difficult to navigate, inactivity fees on IBKR Pro 

 

  1. TradeStation 

If you are looking for a professional-level trading experience, TradeStation is a top-notch choice for you. Now, regular investors have access to the firm’s high-octane tools, especially after the company recently cut trading costs to $0 and lowered the minimum investment to $0 for its new TS GO offering. 

Trade costs: $0 per contract 

Account minimum: $0 

Recurring fees: None 

Pros: High-quality trading platforms, comprehensive research, commission-free stock, ETF and options trades, advanced tools, active trader community. 

Cons: Free trading on advanced platform requires TS Select, no transaction-fee-free mutual funds, plans and pricing can be confusing. 

 

  1. Ally Invest 

Ally Invest is adding tools to help new investors begin their journey, but that’s at the expense of development time for the legacy TradeKing customers who were options-centric. There are two web-based platforms available through Ally Invest. The basic one is linked to the banking features while the Ally Live platform has streaming real-time data and some customizable charting capabilities. 

Ally Invest’s $0 account minimum and $0 trading commissions make it a strong option for all traders. A low $0.50 options-contract fee will attract options traders. 

Trade costs: $0.50 per contract 

Account minimum: $0 

Recurring fees: None 

Pros: Commission-free stock, options and ETF trades, no account minimum, strong web-based platform, robust research and tools 

Cons: There is no ‘no-transaction-fee’ mutual funds 

 

  1. Firstrade 

Firstrade appeals to experienced investors with $0 trading costs and no per-contract fees for options trades, while beginning investors will appreciate its $0 account minimum to invest. Besides low costs, Firstrade also stands out with a unique securities lending program for investors interested in earning extra income by lending their stocks to other financial institutions. The securities lending program places no restrictions on the account holder who can sell their stock at any point. This could be a significant benefit for independent investors with large accounts. 

Trade costs: $0  

Account minimum: $0 

Recurring fees: None 

Pros: Commission-free stock, ETF and options trades, $0 contract fee on options trades, all mutual funds are commission-free, Chinese language options 

Cons: No 24/7 customer support 

Last but not least, 

 

  1. Juno Auto Trader 

Provided by the credible and is an award-winning broker, Juno Markets, this is a fully automated copy trading platform that allows you to follow the traces of other professional traders.  

You might ask, why should you choose this platform.

We have 3 major reasons to answer that: 

  • Low Spreads 

We offer trading accounts with raw spreads directly from the banks.  This means clients have access to pricing starting from 0 pips. We also have various types of accounts that you can accord to your needs.  

  • Transparency 

Yes, we will not leave you in doubt. Juno Markets is dedicated to providing the most transparent and reliable platform in the market.  No re-quotes or rejected trades.  They also accept all EAs and trading strategies. 

  • Best Service 

We’re committed to providing all clients with personal and professional service. Either you are a beginner or professional, we will give the best service for you. Get in touch with an account manager through your preferred communication channel. 

  • Technology 

Juno Markets cater to professional traders. We host our server in the world’s top data centers and have relationships with the largest liquidity providers, so clients have the best execution. 

  • Fast deposits and withdrawals 

Juno Markets offers plenty of deposits options for clients to fund their accounts. Deposit and trade 24 hours a day directly into your trading account with no downtime. In many markets, we offer online and mobile transfers directly from your bank. Need to make a withdrawal? Receive funds within the same day directly back to your account as well. 

  • Fully licensed and regulated 

Juno Markets is regulated by the Vanuatu Financial Services Commission with a principal’s 

license to deal in securities and foreign exchange. 

If you want to experience how easy it is to use this platform, you can create the demo account and try it by yourself here. 

Come join us now and feel all the conveniences!