#Best Trading Platforms 2022
StockBrokers.com 2021 Review
Here are the best online brokers for 2021, based on 256 variables.
TD Ameritrade Best overall, best for beginners
#Fidelity Best for everyday investors
#Charles Schwab Best IRA accounts
#Interactive Brokers Best for professionals
#E*TRADE Best web trading platform
Other Trading Platforms
In addition to our top five trading platforms for 2021, we reviewed six others: Merrill Edge, Firstrade, Ally Invest, TradeStation, Webull and Robinhood. Here are our high-level takeaways for each. To dive deeper, read our reviews.
Merrill Edge - Merrill Edge offers $0 trades with industry-leading research tools (especially ESG research) and excellent customer service. Better yet, for current Bank of America customers, Merrill Edge's Preferred Rewards program provides the best rewards of any bank broker we tested in 2021.
Firstrade - While Firstrade is easy to use and terrific for Chinese-speaking investors, its overall offering struggles to stand out against brokers who also offer $0 stock trades.
Ally Invest - For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website is a convenient solution.
TradeStation - As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.
Webull - Webull offers a unique community experience and easy to use trading platforms that will satisfy most young investors. However, for everyday investing, Webull lacks the trading tools and features to compete with industry leaders who also offer $0 stock and ETF trades.
Robinhood - Robinhood used to shine thanks to its easy-to-use mobile app and $0 trades. However, today, all of the largest online brokers offer free stock and ETF trades. As a result, it is much more difficult for Robinhood to outduel the competition.
Who are the top 10 brokerage firms?
The top 10 brokers in 2021 can be ranked by total assets under management, or AUM, as follows:
Fidelity - $10.4 trillion AUM (source)
Charles Schwab - $7.57 trillion AUM (source)
Merrill Edge - $3.3 trillion AUM via Bank of America (source)
TD Ameritrade - Over $1 trillion in AUM (source)
E*TRADE- $1.52 trillion in AUM via Morgan Stanley (source)
Interactive Brokers - $351 billion in AUM (source)
Ally Bank - $139 billion in AUM (source)
Robinhood - $81 billion in AUM (source)
TradeStation - $12.65 billion via Monex Group (source)
Firstrade (AUM not published)
What is the most profitable trading platform?
The most profitable trading platform for you depends on your needs — whether you’re a day trader, active investor, or passive investor focused on the long term. TD Ameritrade is our top all-around pick for 2021; with multiple platforms for desktop, web and mobile, it's accessible for all types of customers.
People often mistake trading platforms — like Robinhood or TD Ameritrade’s thinkorswim — for companies that place trades for you; in reality, these platforms are meant for self-directed trading (though they may offer educational tools and materials). If you’re looking for hands-on guidance with your investments, you can search for a trusted financial advisor on investor.com.
It bears noting that trading profits are never guaranteed; for every potential reward there is an equal amount of risk.
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