Martin Bixel - 09 Dec - 0 Comments
As the years pass, individual investing is becoming more and more widespread. In fact, according to a recent Aite Group report, around 25% of adults in the United States with internet access consider themselves online traders. In addition, 6% of them are professionals, which amount to 54 million traders in the US.
If you fall into this group, or you consider yourself an aspiring investor, you definitely need to know about the best online trading platforms out there. Therefore, here are four best trading platforms that offer young investors the most value for their portfolios.
Top Four Online Trading Platforms
1. TD Ameritrade
Back in 1996, TransTerra launched “Accutrade for Windows” and effectively started the online investing craze of the late 90s. Later that year, the company merged with Ameritrade to form a single company and as they say, the rest is history.
Today, TD Ameritrade is among the best online trading platforms and is best suited for inexperienced, developing traders. Fees and costs might be a little bit high for some people, however in return, you’ll get access to both in-house and 3rd-party research materials that will help you progress as a trader.
For those of you who are looking for an all-around brokerage, E*TRADE might be the best platform for your needs. While the platform is quite similar to Ameritrade, it actually excels in a few different areas. Both the web and mobile applications are incredibly advanced and are a breeze to use.
Speaking of E*TRADE’s mobile app, StockBrokers.com placed it at the top of their best mobile trading apps list earlier in 2017. And just like Ameritrade, this platform charges $6.95, but offers a reduced rate for people who are placing more than 30 trades per year.
This platform landed on our list mainly because of its user-friendliness and eye-catching design. Moreover, Fidelity offers a ton of educational resources, which will allow you to dig as deep as you want while doing research. If you’re a “DIY person” who enjoys going through data, this is the pick for you.
Fidelity also allows you to sort your stocks by performance, size and a number of different categories such as profit and sales growth. The color-coded charts and rankings will notify about any important changes in the market. And earlier this year, Fidelity lowered its equity from $7.95 to $4.95 per trade.
4. Metatrader 5
On the last spot on our list, we have the latest version of the highly-acclaimed Metatrader software. On the surface, Metatrader 5 looks similar to the previous version. Plus, the features that made the MT4 so popular, like the user-friendly design and intuitive interface are still here.
The platform is capable of processing different financial instruments with a wide variety of trading activity. It also has a depth market tool that will enable you with a market ladder for your day-trading. Lastly, people who prefer auto-trading will be delighted to know that Metatrader 5 comes with a brand-new trading script and an expert advisor.
The Bottom Line
In the end, you have to be aware that there’s no single best online trading platform. Your choice, naturally, depends on your needs and knowledge levels.
Maybe you’re a newcomer that’s only looking for a platform that will help him learn the ropes. On the other hand, maybe you’re a seasoned professional, looking for access to complex investing research.
Whatever the case may be, we guarantee that you’ll a platform that will suit you and help you arrange your priorities. among the four we listed above.