Using the Best Platform Will Make Stock Trading More Convenient

There are several trading platforms that stand out and allow investors to trade stocks seamlessly without overcharging them. Some trading platforms even enable users to make a few trades for free, while others give a chance to start stock trading without a substantial account balance. The general public seems to have never been more interested in trading stocks than currently. 

To make profits in stock trading, one must make wise decisions to avoid incurring losses. Some of these decisions include choosing a reputable brokerage and getting adequate information about trading. Learning methods and techniques to use when picking stocks is essential if one is starting stock trading. Understanding different investment strategies will help to diversify risk, hence avoiding losses. If a trader starts independently, it is essential to avoid committing lots of cash right away to prevent huge losses as a beginner. 

This article picked the best stock trading platforms based on online access, access to investment tools, low trading fees, and automation technology. Most stock trading platforms that stand out have an online presence and friendly interfaces. These platforms also do not charge overly hefty fees to investors, hence allowing them to maximize profits. The companies featured in this article also provide educational content to traders to help them learn different investment strategies.

1 - Fidelity

Fidelity does not charge fees for minimum deposit or opening an account with them. The trading company also does not charge its users for IRA closeouts, insufficient balances in mutual funds, and late settlements. Fidelity offers a four per cent margin rate, which is one of the lowest in the market. In addition, the company provides its users with zero expense ratios on four varying mutual fund products. Fidelity also allows its users to manage their portfolio by themselves or use the services of Fidelity Go, the company’s robot advisor. The company owns 200 investment centres across the country to give its customers a personalized experience. 

2 - TD Ameritrade

TD Ameritrade offers investment options that are accessible through mobile platforms. The mobile application and the web platform allow users to access their trading information on any device. In addition, the mobile and web platforms offer their users educational, planning, and research tools to enable them to make sound investment decisions. TD Ameritrade gives zero commissions for its standard brokerage accounts trading online Canadian and US stock. The company’s “thinkorswim” platform offers investors an opportunity to run simulations before engaging in actual trades.

3 - Charles Schwab

This trading company gives its users access to a desktop-based platform known as Streetsmart Edge and a web-based platform known as StreetSmart Central. StreetSmart Edge gives investors several trading layouts, several trading tools, and a CNBC live stream. Schwab’s Global Account offers users the ability to trade stocks in 12 different markets with zero account minimum. The company gives users the option to make the trade or enable the automatic trading feature. Schwab also provides investment and planning advisory services at no extra costs to the traders.

Schwab gives investors the option to buy fractions of a share for even $5.00. The company provides access to plenty of research tools, including reports from Credit Suisse, Morningstar, and Market Edge. Schwab’s staff also provide real-time news to keep traders abreast with current market trends.

4 - Vanguard

This company is owned by shareholders meaning the profits are ploughed back into the business. Vanguard connects an investor with a financial advisor to help build a custom investment plan. The advisor revisits the plan periodically to fine-tune any errors observed and maximize profits. Vanguard investors can check balances, receive periodic reports, and contact their advisors through an online account.

5 - Betterment

This company is most appropriate for investors who do not want to trade stocks actively. It uses a robot advisor to make investments on behalf of users; hence it is very favorable to beginner investors. Betterment uses high-level technology and qualified financial advisors to ensure their traders get maximum profits. However, the returns are dependent on an individual trader’s risk tolerance and investment timeline. The platform charges a 0.40% service charge and requires investors to have a minimum of $100,000 in their account to start investing, so while it’s good for beginning investors, it’s not good for beginning savers.