Whether you’re a complete beginner, a seasoned trader/ investor, your brokerage platform should align with your goals, strategies, and personal style. Equally important is ensuring the platform is secure and provides the necessary tools for a successful investment experience.
With so many online brokers available, finding the right one can feel overwhelming. This comprehensive guide explores the best online brokers and trading platforms in the U.S., highlights what makes them stand out, where they fall short, and offers insights to help you choose the best fit for your needs.
Best Online Brokers in the United States 2025
Following our extensive live testing, review, and comparison of over 100+ online brokers across the globe and in the United States, our top picks for the best online brokers in the United States are;
- Interactive Brokers – Best for Advanced Traders, Long-Term Investing, Low-Cost Trading, and Global Market Reach
- Fidelity – Best for Long-Term Investing and Retirement Accounts
- Oanda – Best for Dedicated Forex Traders
- Robinhood – Best for Beginner Investors and Mobile-First Investing
- NinjaTrader – Best for Dedicated Futures Traders
- TastyTrade – Best For Options Trading
- Etoro – Best for Social and Copy Trading
1. Interactive Brokers
Interactive Brokers (IBKR) is one of the most powerful and globally connected online brokerage platforms available, trusted by professional traders, institutions, and sophisticated retail investors alike.
IBKR is well known for its exceptionally low trading costs, direct market access, and access to over 160+ markets across 30+ countries. It is the go-to broker for serious traders seeking advanced tools, cost efficiency, and international diversification.
| Regulation | SEC, FINRA |
| Products | Stocks, ETFs, Spot Currencies, Margin, Options, Futures/FOPs, Forecast & Event Contracts, US Spot Gold, Bonds, Mutual Funds, Hedge Funds |
| Platform | Client Portal (Web), IBKR Desktop, Trader Workstation (Desktop), IBKR Mobile, IBKR GlobalTrader (Mobile), TradingView |
| Account Minimum | $0 |
| Rating | 4.8/5.0 ★ |
| Fees | IBKR Lite (U.S. stocks/ETFs): $0 (commission-free) IBKR Pro: Tiered pricing Margin Rates: One of the lowest in the industry |
| Beginner Friendly | No |
| Ideal Users | Professional Traders and Investors, Derivative Traders, Institutional Clients, High‑Volume Traders, Global Multi‑Asset Investors, Quantitative and Algorithmic Traders |
Pros
- Access to a wide range of global markets.
- Supports multiple account types, including individual, joint, IRA, and institutional.
- Supports fractional shares for U.S. stocks and ETFs.
- Professional-grade platforms with algorithmic trading and API integration.
- Powerful desktop platform (Trader Workstation) built for technical and quantitative traders.
- IBKR Mobile offers simplified mobile interfaces.
- Real-time global news, fundamental data, and third-party research access.
- Ultra-low trading commissions and tight spreads with tiered and fixed pricing.
- Significantly lower margin rates compared to competitors.
- Advanced margin trading capabilities.
- IBKR SmartRouting automatically seeks the best price execution across multiple venues.
Cons
- The account setup process can be lengthy and technical.
- Steep learning curve for new or casual investors.
- Limited educational resources for true beginners.
- Charges inactivity fees on IBKR Pro accounts (waived for IBKR Lite).
- Phone support is adequate but not as responsive as some mainstream brokers.
Read Full Review: Interactive Brokers Review
2. Fidelity
Fidelity Investments is a powerhouse in the investing world. It is known for its strong customer service, low-cost investing options, and emphasis on long-term financial planning.
Fidelity is a top choice for investors who want reliability, depth of offerings, and access to high-quality research tools.
| Regulation | SEC, FINRA |
| Rating | 4.8/5.0 ★ |
| Products | Stocks, ETFs, Options, Margin, Fractional Shares, Mutual Funds, Crypto, Retirement Accounts, Fixed Income, Bonds, CDs, Cash Management, Direct Indexing, Managed Account, Annuities |
| Platform | Fidelity Web Platform, Fidelity Active Trader Pro (Desktop), Fidelity Mobile App |
| Account Minimum | $0 |
| Fees | Stock & ETF (U.S.): $0 |
| Beginner Friendly | Yes |
| Ideal Users | Long-term Investors, Beginner investors, Active Traders, Retirement-Focused Investors, Mutual fund investors, Low-cost investors, Research-driven investors, Cash management users, and Institutional Clients. |
Pros
- $0 commissions on stocks, ETFs, and Fidelity mutual funds.
- Wide range of IRA options.
- Advanced research tools.
- Easy access to fractional shares for affordable diversification.
- 0% expense ratio index funds.
- Reliable 24/7 customer service.
- Cash management features include checking, bill pay, and ATM refunds.
- No minimums or hidden fees.
- Intuitive and robust mobile app.
- Strong security features.
Cons
- Options trading tools are less advanced than niche platforms.
- No support for forex or futures trading markets
- Some third-party mutual funds carry transaction fees.
- Robo-advisor lacks deep customization compared to competitors.
- No direct access to cryptocurrencies.
3. Oanda
OANDA is a globally trusted forex broker known for its competitive pricing, fast execution, powerful trading platforms, and extensive currency pair offerings. If you’re trading forex seriously, OANDA is your go-to broker.
| Regulation | CFTC, NFA |
| Rating | 4.5/5.0 ★ |
| Products | Forex |
| Platforms | OANDA Web Platform, OANDA Mobile and Tablet Apps, TradingView, and MT4 |
| Account Minimum | $0 |
| Leverage | Up to 1:50 |
| Fees | Forex Spreads: As low as 0.8 pips (EUR/USD average); spreads vary by account type Commission: Spread-only pricing Inactivity Fee: $10/month after 12 months of inactivity |
| Beginner Friendly | Yes |
| Ideal Users | Forex Traders, CFD Traders, Active Traders, Day Traders, and Algorithmic Traders. |
Pros
- No minimum deposit.
- Access to 68 currency pairs, including major, minor, and exotic pairs.
- Features an easy-to-use web trading platform and mobile app for beginners.
- Provides advanced charting with MT4 and TradingView integration.
- Tight spreads and real-time pricing.
- Excellent execution speed and low slippage.
- Access to historical forex data.
- API trading is available.
Cons
- Limited non-forex assets (no stocks or ETFs)
- Lacks robust educational resources for complete beginners.
4. Robinhood
Robinhood is a modern, mobile-first brokerage platform that revolutionized the industry by introducing commission-free trading. Designed for simplicity, it appeals primarily to beginner investors and casual traders who prefer a seamless, user-friendly interface.
While it lacks some of the advanced tools and asset classes offered by more sophisticated platforms, Robinhood remains a popular investment gateway, especially among Gen Z and millennial users.
| Regulation | SEC, FINRA |
| Rating | 4.8/5.0 ★ |
| Products | Stocks, ETFs, Fractional Shares, Crypto Spot, Options, Futures, IRA, Cash Management |
| Platform | Mobile |
| Account Minimum | $0 |
| Fees | Stocks & ETF Trades: $0 commission Options Trades: $0 commission Cryptocurrency Trades: $0 commission, but includes spread Margin Rate: 12% + Robinhood Gold: $5 per month for margin and premium research, plus an 11.75% margin rate |
| Beginner Friendly | Yes |
| Ideal User | Beginner Investors, Mobile-first Users, Cost Conscious Investors, Crypto Investors, Options Traders, Futures Traders, Investors with small balances, and DIY investors. |
Pros
- Commission-free trading on U.S. stocks and ETFs.
- Clean, easy-to-use mobile and web interface.
- Cryptocurrency trading is available for major coins like Bitcoin and Ethereum.
- Fractional shares let you invest with as little as $1.
- No account minimums required to get started.
- Extended-hours trading available (pre-market and after-hours).
- Instant deposits let you start trading immediately.
- The cash sweep program offers interest on uninvested funds.
- Robinhood Gold provides premium features like margin, research, and Level II data.
Cons
- Does not offer mutual funds, bonds, or futures.
- Lacks advanced charting and research tools.
- Customer support can be slow during busy periods.
- Robinhood Gold has a monthly fee and high margin interest rates.
- Cryptocurrency transfers to external wallets are limited.
- Does not support retirement accounts like IRAs.
5. NinjaTrader
NinjaTrader is a powerful trading platform and brokerage built for active futures traders who demand deep market access, advanced charting, fast execution, and strategy automation.
While it has a steeper learning curve than beginner platforms, its extensive features, low-cost futures commissions, and support for algorithmic trading make it a top choice for serious and experienced futures traders.
| Regulation | NFA, CFTC |
| Rating | 4.6/5.0 ★ |
| Products | Futures |
| Platforms | NinjaTrader Web, NinjaTrader Desktop, NinjaTrader Mobile Apps |
| Account Minimum | $0 |
| Fees | Commissions: $0.09–$0.35 per side (based on account type: Free, Lease, or Lifetime) Platform Licensing: Free (basic) / $99/month / $499/year / $1,499 one-time (lifetime license) Inactivity Fee: $25 (if there is no activity in a month) |
| Beginner Friendly | No |
| Ideal Users | Professional Futures Traders and Algorithmic Traders |
Pros
- Industry-leading futures trading platform with advanced trading tools.
- Offers advanced charting, backtesting, and strategy automation.
- Direct market access with fast execution speeds.
- Competitive commissions for futures contracts.
- Supports custom indicators and algorithmic trading.
- Lifetime license includes all premium features.
- Offers a free simulation mode for practice trading.
- Supports multiple data providers and brokerage integrations.
- Frequent updates and an active user community.
- Integrated order flow, volume profile, and market depth tools.
Cons
- Limited product range (no stocks or ETFs).
- The desktop platform has a steep learning curve for beginners.
- Mobile/web versions are limited in functionality.
- Monthly platform fees are required unless using the free basic version.
- Add-on data feeds and tools may increase overall cost.
- Not ideal for passive or infrequent traders.
- Initial margin requirements may be high for smaller accounts.
- Some advanced features require a paid license.
6. TastyTrade
Tastytrade is a US brokerage platform built by traders, for traders. It was built by the creators of Thinkorswim with a strong emphasis on options and derivatives trading.
Tastytrade offers a range of financial products like stocks, ETFs, and forex, but its low-cost options trading, fast execution, and streamlined options trading interface make it a go-to for dedicated options traders.
| Regulation | FINRA, SEC |
| Rating | 4.5/5.0 ★ |
| Products | Stocks, Options, Futures, Futures Options, ETFs, Crypto |
| Platforms | Tastytrade Web, Tastytrade Desktop, Tastytrade Mobile App, TradingView |
| Account Minimum | Cash Account: $0 Margin Account: No minimum, but requires $2,000 for margin privileges |
| Fees | Stock/ETFs Trades: $0 commission Options Trades: $1 per contract to open, $0 to close Futures Trades: $1.25 per contract per side Micro Futures: $0.85 per contract per side Crypto Trades: $0 commission Inactivity Fee: $0 (no inactivity fees) |
| Beginner Friendly | No |
| Ideal Users | Professional Derivative Traders (Options and Futures), Margin Traders, Active Traders, Algorithmic Traders |
Pros
- Designed specifically for options and derivatives trading.
- No account minimums.
- Provides access to stocks, ETFs, options, futures, and cryptocurrencies.
- Fast, responsive, and advanced web, desktop, and mobile platforms.
- TradingView integration.
- Best-in-class options trading interface.
- Supports multiple account types, including individual, retirement, joint, and entity/trust.
- High-speed execution and streamlined order entry.
- Supports API trading.
- Extremely low commissions on options and futures trades.
- Flat-fee pricing with no commissions to close.
- Strong educational content via the Tastytrade media network.
- Supports portfolio margin for qualified accounts.
Cons
- The platform is complex and may overwhelm beginner investors.
- Not ideal for long-term or passive investing.
- Limited research tools and fundamental data.
- No paper trading or demo account feature.
7. eToro
eToro is a global brokerage platform that pioneered the concept of social and copy trading, allowing users to follow, interact with, and copy the trades of successful investors in real time.
With an intuitive and user-friendly interface, as well as a wide range of assets including stocks, ETFs, cryptocurrencies, and forex, eToro is especially appealing to beginners and passive investors who want to learn by observing or automatically mirror the trades of top traders.
Although eToro does not cater to advanced technical traders or offer deep customization, its community-driven approach, transparent profiles, and built-in risk tools make it one of the most accessible platforms for entry-level and intermediate investors alike.
| Regulation | FINRA, CFTC |
| Rating | 4.3/5.0 ★ |
| Products | Stocks, Crypto, CFDs, Social/ Copy Trading, Crypto Staking |
| Platforms | eToro Web Trading Platform, eToro Mobile App |
| Minimum Deposit | $50 |
| Copy Trader Minimum | $200 per trader |
| Fees | Stock and ETFs: 0% commission for U.S. stocks Spreads: Vary by asset. Notably higher in crypto and forex Crypto Fee: 1% flat fee per trade Inactivity Fee: $10/month after 12 months of no login activity |
| Beginner Friendly | Yes |
| Ideal Users |
Pros
- Regulated in multiple jurisdictions, including FINRA and the SEC in the U.S.
- Simple, easy-to-use interface suitable for beginners.
- Enables social and copy trading of top-performing investors.
- Supports multiple asset classes, including crypto, stocks, ETFs, and forex.
- Offers commission-free trading on U.S. stocks.
- Offers fractional shares with a low minimum investment.
- Offers crypto trading with wallet support.
- Provides a free demo account with $100,000 in virtual funds for practice trading.
- Built-in risk management tools for copy trading.
- Transparent trader stats and risk scores for copy portfolios.
- Active social community with newsfeed-style updates.
Cons
- U.S. users restricted to stocks, ETFs, and crypto (no forex or CFDs).
- Limited charting and technical analysis tools for technical traders.
- Limited integration with third-party tools or platforms.
- Charges withdrawal and currency conversion fees.
- No access to options or futures trading.
- Doesn’t support advanced order types or custom strategies.
- Higher spreads on some crypto and forex trades compared to traditional brokers.
- Cannot transfer crypto out of the platform (except via eToro Wallet).
- Slow response times for customer support during high-volume periods.
Conclusion
Selecting the best online broker is about matching the right platform to your unique investing or trading style. Here’s a quick recap of the best forex brokers in the United States and the best use cases for each broker:
- Interactive Brokers – Best for advanced traders and investors, international markets, high-volume traders, and low-cost trading.
- Fidelity – Great for long-term investors, retirement planning, and those seeking full-service wealth management.
- OANDA – Best for dedicated forex traders.
- Robinhood – Best for beginners looking for simplicity, mobile investing, and zero commissions.
- NinjaTrader – Built for active futures traders who value in-depth charting, backtesting, and strategy automation.
- Tastytrade – Best for options traders.
- eToro – Perfect for beginner investors and traders, social trading, and copy trading.
The best broker for you is the one that aligns with your goals, trading style, and level of experience.
If you’re a beginner, ease of use and educational support might matter most. If you’re an active trader, you’ll want advanced trading tools and low execution costs. And if you’re planning for retirement or managing wealth long-term, full-service features and trusted account protection should take priority.