Best Trading Platforms Reviewed
With hundreds of providers active in the online space, choosing the right free trading platform for your needs is no easy feat.
For example, not only does the platform need to have a great reputation and support your chosen financial market – but it also needs to offer competitive fees and top-notch customer support. You also need to consider metrics surrounding trading tools and features, educational resources, and chart reading indicators.
To help point you in the right direction, below you will find a selection and review of the very best trading platforms of 2023.
1. eToro – Overall Best Trading Platform for Beginners 2023
eToro LogoUpon researching hundreds of online providers, we found that eToro is one of the best trading platforms to consider in 2023. First and foremost, the broker is perfect if you are just starting out in the world of online trading. This is because the platform is really simple to use and it supports small stakes.
For example, the minimum deposit is just $200 and you trade from $25 upwards. In terms of what assets you can trade, eToro supports several asset classes. This covers 2,400 stocks across 17 different markets. For example, you can buy shares in companies based in the US, Canada, UK, Hong Kong, and heaps of European exchanges.
eToro also allows you to access over 250 ETFs and 16 cryptocurrencies. If you’re looking for a commodity trading platform, eToro supports everything from gold and silver to oil and natural gas. And of course, eToro also offers a huge forex trading facility. Most importantly, each and every financial market at eToro can be traded on a commission-free basis. You don’t need to pay any ongoing fees either, so eToro is a great trading platform for those seeking a low-cost provider.
An additional reason why eToro makes the number one spot on our list as the best trading platform for beginners is that it offers passive investing tools. For example, through its CopyPortfolio feature, you can benefit from a professionally managed investment strategy. This means that the team at eToro will buy and sell assets on your behalf.
There are many strategies to choose from, such as a focus on tech stocks or cryptocurrency trading – eToro is actually our most-recommended bitcoin trading platform. You then have the eToro Copy Trading tool. This is where you will select a seasoned trader that you like the look of, and then copy all of their ongoing trades. Read more here if you’re into cryptocurrencies or looking for an NFT platform.
For example, if the trader allocates 3% of the portfolio into Apple stocks and 2% into IBM, your portfolio will do the same. When it comes to the fundamentals, eToro allows you to deposit funds with a debit card, credit card, bank wire, or an e-wallet like Paypal and Skrill. The trading platform is regulated by the FCA (UK), CySEC (Cyprus), and ASIC (Australia), which illustrates that it takes client safety seriously. For those in the US, eToro is registered with FINRA.
Read our eToro review to learn more about this excellent trading platform.
eToro fees
Fee Amount
Stock trading fee Free
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5
What we like:
Super user-friendly trading platform
Buy stocks without paying any commission or share dealing charges
2,400+ stocks and 250+ ETFs listed on 17 international markets
Trade cryptocurrencies, commodities, and forex
Deposit funds with a debit/credit card, e-wallet, or bank account
Ability to copy the trades of other users
Regulated by the FCA, CySEC, ASIC and registered with FINRA
What we don’t like:
Not suitable for advanced traders that like to perform technical analysis
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Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
2. VantageFX – Global Trading Platform with Zero Commission
VantageFX LogoVantageFX is a global CFD broker that offers everything from stocks and forex to commodities, futures, and indices. The platform offers leverage up to 500:1 for major currency pairs, making it one of the best trading platforms for big positions. The minimum contract size for a standard account is also just 0.01.
With a standard account, CFD trading at VantageFX is 100% commission-free. Spreads start at 1.4 pips, which is slightly above average. However, there are no deposit, withdrawal, or inactivity fees to worry about on your account.
VantageFX also offers ECN accounts with a minimum deposit of just $500. You can trade with spreads from 0.0 pips and pay a commission of $3 per lot.
VantageFX offers its own trading platform for the web and iOS and Android mobile devices. It’s fairly comprehensive, with full screen charts, dozens of technical indicators, and seamless order entry.
Alternatively, this broker also gives you access to MetaTrader 4 and MetaTrader 5. You can also take advantage of social trading with ZuluTrade, Myfxbook, and DupliTrade. All three of these platforms enable copy trading.
VantageFX is regulated by the UK FCA and the Australian Securities and Investment Commission (ASIC).
VantageFXFX fees
Fee Amount
Stock trading fee Variable spread
Forex trading fee Spread, 1.4 pips for GBP/USD
Crypto trading fee N/A
Inactivity fee Free
Withdrawal fee Free
What we like:
100% commission-free CFD trading
No deposit, withdrawal, or inactivity fees
Offers ECN accounts
Social trading with 3 different platforms
Supports MetaTrader 4 and 5
Regulated in the UK and Australia
What we don’t like:
Only offers CFDs
Above-average forex spreads
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Your capital is at risk.
3. Robinhood – Best Trading Platform for Buying US Stocks
Robinhood app
If you’re based in the US, then there is every chance that you have heard of Robinhood. Launched in 2013, this online trading platform is now home to over 10 million clients. Primarily, investors in the US use Robinhood to buy stocks in a simple and cost-effective way.
In fact – and much like eToro, Robinhood allows you to buy stocks on a commission-free basis. In total, the platform offers more than 5,000 stocks – most of which are US-listed. This covers both primary exchanges – the NYSE and NASDAQ.
Additionally, Robinhood also offers in the region of 250 non-US stocks. However, if international shares are what you are after, other trading platforms in the space have a much larger portfolio of companies. Nevertheless, Robinhood is also worth considering if you are looking to invest in ETFs or cryptocurrencies or looking for a penny stock trading platform due to its user-friendly layout.
Furthermore, the platform is also home to a popular stock options trading facility. This is perfect for those of you looking to access the US stock markets in a more sophisticated way. Once again, the aforementioned asset classes can be accessed on a commission-free basis. When it comes to funding your Robinhood account, this free trading platform only accepts US bank transfers.
Depending on your chosen account type, your deposit might be processed instantly. For example, if you are on a free account, the first $1,000 of your chosen deposit amount will be credited instantly, and the rest might take an extra couple of days. Either way, there is no minimum deposit amount at Robinhood, which is great if you want to trade with small amounts.
We should also note that a lot of users opt to trade on the Robinhood app. Available on both iOS and Android devices, this gives you access to the very same account features as you will find on the main website. Finally, as a US-based broker, Robinhood is heavily regulated. This includes the authorization from both FINRA and the SEC.
Robinhood fees
Fee Amount
Stock trading fee Free
Forex trading fee N/A
Crypto trading fee Free
Inactivity fee No inactivity fee
Withdrawal fee No withdrawal fee
What we like:
Hugely popular trading platform in the US
Buy over 5,000 US-listed stocks
ETFs, cryptocurrencies, and stock options also supported
Does not charge any commissions
No minimum deposit in place
Very simple to use and ideal for newbies
Heavily regulated in the US
What we don’t like:
Only 250-ish international stocks offered
No debit/credit card or e-wallet deposits
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Your capital is at risk.
5. TD Ameritrade – Best Trading Platform for Asset Diversity
TD ameritrade
While the likes of eToro and Robinhood are considered newbies in the trading platform space, TD Ameritrade is a US brokerage powerhouse that has been active since 1975. Put simply, if there is a financial market that you want to invest in, chances are, you’ll find it at TD Ameritrade.
For example, in the stock department alone you will find thousands of shares across both US and international marketplaces. This also includes the ability to invest in newly launched IPOs. If passive investing is what you are after, TD Ameritrade is home to over 11,000 funds and one of the best index trading platforms. This is very impressive especially compared to other platforms available, you can see it more clearly in our TD Ameritrade vs Charles Schwab review.
This covers ETFs, index funds, and mutual funds – so there’s something to suit all financial goals. We also like the fact that TD Ameritrade offers access to the US bond market, alongside retirement-based financial products like annuities and tax-efficient portfolios.
Outside of the traditional asset space, TD Ameritrade also offers a day trading platform. This includes everything from forex and cryptocurrencies to commodities and futures. When it comes to fees, this will depend on the specific financial market that you plan to access.
For example, With that being said, if you are looking to focus on either stocks or ETFs – TD Ameritrade charges no commission whatsoever. Options are also competitive prices, with the trading platform charging just $0.65 per contract (with no exercise fee). In terms of getting started with this popular broker, TD Ameritrade can be accessed online or via its mobile app.
Either way, there is no minimum deposit in place and you can fund your account by executing a bank transfer. This is usually instantly processed by TD Ameritrade. Finally, and perhaps most importantly, TD Ameritrade is regulated by all relevant bodies in the US – so you should have no concerns regarding the safety of your money.
TD Ameritrade fees
Fee Amount
Stock trading fee Free
Forex trading fee Spread. 1.2 pips average during peak hours.
Crypto trading fee N/A
Inactivity fee Free
Withdrawal fee Free for ACH, $25 for wire transfer
What we like:
Established US brokerage firm
Huge asset library that includes thousands of stocks and funds
Trade forex, futures, cryptocurrencies, and more
Commission-free trades on US stocks and ETFs
Fast bank transfer deposits
Strong regulatory standing
Great research materials
What we don’t like:
Best suited for experienced traders
No deposits via debit/credit card or e-wallet
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Your capital is at risk.
6. Interactive Brokers – Best Trading Platform for Seasoned Investors
interactive brokers logo
In a similar nature to TD Ameritrade, Interactive Brokers is an established brokerage firm that has been offering trading services since the 1970s. The Interactive Brokers platform is arguably the best option on the table if you consider yourself a seasoned investor.
This is because it comes jam-packed with advanced trading tools and features. This covers valuable resources for performing both fundamental and technical research. In terms of assets, this top-rated trading platform covers thousands of financial instruments. In fact, this covers 135 markets in over 33 countries.
For example, you can buy stocks that are listed in North America, Europe, Asia, and more. The trading platform supports fractional ownership too, meaning you can purchase a ‘fraction’ of a stock. Index funds and ETFs are also supported for those of you looking to take a diversified approach to invest.
Additionally, if you are interested in taking a more sophisticated approach to trading, Interactive Brokers offers markets on futures, options, and forex. In terms of fees, the pricing structure employed by Interactive Brokers is a bit confusing at first glance. This is because there are different fees depending on your chosen asset and the account typer you sign up for.
With that said, if you are on the IBKR Lite account you choose to buy stocks or ETFs listed in the US, then you won’t pay any commission. If you like the sound of Interactive Brokers, this heavily regulated trading platform does not have a minimum account balance policy in place. You can easily deposit funds by transferring funds from your bank account.
Interactive Brokers fees
Fee Amount
Stock trading fee Free
Forex trading fee Commission + spread. Commission is 0.08 to 0.20 basis points. 0.1 pip GBP/USD.
Crypto trading fee Commission. $15.01 per Bitcoin futures contract.
Inactivity fee $20 per month
Withdrawal fee Free
What we like:
Huge library of traditional stocks, index funds, and ETFs
Really advanced trading features and chart analysis tools
More than 135 markets across 33 countries
Trade CFDs, futures, options, forex, and more
No minimum deposit
Buy US-listed stocks and ETFs commission-free
What we don’t like:
Not suitable for newbie investors
Fee structure is a bit confusing
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Your capital is at risk.
7. Plus500 – Best Online Broker Platform for Forex CFDs
Plus500 Logo
If you’re based in Australia and looking for the best forex trading platform in the market – Plus500 is well worth considering. This popular online platform gives you access to an abundance of currency pairs at super competitive fees.
This includes dozens of majors, minors, and exotics. Best of all, you can trade forex on Plus500 without paying any commission. In terms of spreads, the provider uses a dynamic system, albeit, this is usually very competitive on major pairs during standard market hours.
For example, Plus500 offers a best-rate spread of 0.01% on the likes of EUR/USD. Although this top-rated Australian trading platform is great for forex, the provider offers thousands of other markets. This includes lots of cryptocurrency CFDs, commodities like gold, oil, and natural gas, and heaps of stocks.
Supported stock CFD markets include Australia, South Africa, the US, the UK, Germany, France, and more. On top of offering low fees and a huge CFD asset library, Plus500 is also popular with traders that seek leverage. Although the platform comes packed with real-time pricing charts and several order types, Plus500 is a bit weak when it comes to technical analysis.
This could be problematic if you are an advanced day or swing trader, as there is no support for MT4, MT5, or any third-party platform for that matter. Nevertheless, Plus500 allows you to open an account in minutes. Once you upload your Australian ID – which is usually verified straight away, you only need to meet a minimum deposit of $100.
Supported payment methods at this top-rated trading platform include debit/credit cards, Paypal, and a bank transfer. There are no fees to deposit or withdraw funds on Plus500, nor are there any account fees. Finally, Plus500 is authorized by several authorities, including ASIC, the FCA, and MAS.
Plus500 fees
Fee Amount
Stock trading fee Spread. 23.51 pips for Amazon.
Forex trading fee Variable spreads
Crypto trading fee Spread. 4.11% for Bitcoin.
Inactivity fee £10 per month after three months
Withdrawal fee Free
What we like:
A commission-free trading policy
Thousands of CFD markets
Tight spreads
In-house trading platform, available on web browsers and mobile phones
Plenty of features including risk management tool, price alerts, and trader’s sentiment tool
Heavily regulated including a license by ASIC
What we don’t like:
No social trading tools
CFDs only
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72% of retail CFD accounts lose money.
8. IG – Best Trading Platform for Forex
While much of the focus thus far has been on traditional assets like stocks and ETFs, some of you might be looking for the best trading platform for forex. If so, it’s well worth checking out IG. Put simply, this trusted online trading platform offers a huge forex department that covers over 80 currency pairs.
It goes without saying that this covers all major and minor pairs – such as EUR/USD, GBP/USD, and AUD/NZD. However, IG also gives you access to a wider selection of exotic currency pairs, too. This includes pairs that contain the Russian ruble, Indian rupee, Philippine peso, Brazilian real, and more.
On top of offering a diverse number of forex markets, you will also find that IG is competitively priced. For example, you can trade major forex pairs from just 0.8 pips. As all forex trading fees at IG are built into the spread, there are no commissions to be made aware of.
In terms of the trading platform itself, IG gives you two options. If you consider yourself somewhat of a newbie, then you might be best suited for the native trading platform built by IG. This can be accessed online or via the IG app. Or, if you’re a fan of third-party platform MT4, this is fully compatible with IG.
This means you’ll have access to heaps of technical indicators and the ability to deploy an automated forex trading robot. IG is also worth considering if you are looking to trade forex on margin. In fact, major forex pairs on the trading platform require a margin of just 2%, which equates to leverage of 50x.
If you want to get started with IG, the minimum deposit is $250. You can choose from a debit card payment or bank transfer. Finally, although IG is an international brokerage firm with its headquarters in the UK, it is authorized and licensed by all relevant bodies in the US. As such, Americans can trade forex at IG in a safe, secure, and heavily regulated environment.
IG fees
Fee Amount
Stock trading fee Commission. 2 cents per share for US stocks, 0.10% for UK and EU stocks.
Forex trading fee Spread. 1.4 pips for GBP/USD.
Crypto trading fee Spread. 36 pips for Bitcoin.
Inactivity fee £12 a month after 24 months.
Withdrawal fee Free
What we like:
Best trading platform for forex
More than 80 currency pairs offered
Spreads start at just 0.8 pips and no commissions charged
Trade on the IG website or via the app
MT4 is supported
More than four decades in the brokerage space
Easily fund your account with a debit card or bank transfer
What we don’t like:
A minimum deposit of $250
No traditional stocks or ETFs for US traders
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Your capital is at risk.
9. Fidelity – Best Trading Platform for Long-Term Investors
fidelity reviewIf you are looking to create a long-term investment plan from the comfort of your home, Fidelity could be the best trading platform on the table. This is because it offers a significant number of traditional markets and investment strategies.
For example, you can buy and trade stocks from 25 different countries – which subsequently allows you to build a highly diversified, international portfolio of equities. The platform also gives you access to US-listed IPOs. If you’re more of a passive investor,
Fidelity offers thousands of ETFs, mutual funds, and fixed-income bonds, making it a great option if you’re searching for a good ETF trading platform. Fidelity is also great if you’re planning to set up a nest egg for your golden years. This is because it offers everything from annuities and IRAs to life insurance and retirement plans. We also like Fidelity for its comprehensive news and research facility.
For example, you can read market insights, sign up for news alerts, and access real-time quotes. For those of you with little knowledge of the financial markets, there is also the Fidelity Learning Center. When it comes to fees, stocks, ETFs, and options listed in the US can be traded commission-free, which is great.
There are no trading fees on Fidelity mutual funds either, as long as you keep hold of your investment for at least 60 days. If not, you’ll be charged $49.95 to exit your position. If opting to trade with margin, fees are also competitive at 4% upwards. Irrespective of which asset class you plan to trade, Fidelity does have a minimum account balance policy in place.