Every trader desires to trade on the Best Stock Trading Platform.
So many times, I have been asked: “Why do you prefer such-and-such Stock Trading Platform over these other ones”.
Well today, I will reveal to you my Top 5 Best Stock Trading Platforms in the US.
Table of Contents
Best Stock Trading Platform in the US: Is Webull better than Robinhood ?
We live in a digital world today.
AI is around the corner if it has not already taken over.
News from yesterday is no longer considered news and with that we are ever bombarded with the latest gadgets to try to help us keep pace in this fast moving world.
Should You Trade with Webull ?
The trading App Webull is the very embodiment of this new trend.
Webull provides its mobile App for free for the purpose of trading stock.
New customers even have a Paper trading account of ..wait for it.. 1 Million Dollars.
Yes, this means upon signing on to this App, you will be instantaneously rich with $1 Million..virtually of course.
That is nice and all but because there is no Level-2 data feed into this, the quotes you will see are at least fifteen minutes delayed. That does not cut in at all for day trading.
The other thing is that Webull does not offer Options trading (yet).
Consequently, this precludes this up and coming up newbie from cracking our Top 5 Best Stock Trading Platforms.
Is Robinhood Worth All That Hype ?
Another popular broker yet relatively new to the trading scene is Robinhood.
They have been around for five years at the time of this writing.
From inception, they offered $0 commissions on online trades thus having a huge mass appeal.
However, the quality of the User Interface leaves a lot to be desired.
For instance, the charting tool does not come with advanced indicators to help traders make sound trading decisions.
Here is the video Summary of the Webull vs Robinhood Article.
Many traders in our Discord room have told me about the inability to open new Option positions on Expiration Day.
This precludes such traders from taking advantage of very unique and effective strategies that are available on Friday Expiration.
Therefore, other than some fanatic traders ready to put with an inferior quality tools, not that many serious day traders would consider Robinhood Trading platform.
Now, you may be wondering : Is Robinhood better than Webull ?
I am not quite certain of that to be honest since Webull is really trying to improve its offering.
I will leave it to you to form your opinion on that comparison of Robinhood vs Webull.
Best Stock Trading Platform: Old School vs New Guard
Another newly created trading platform is eOption.
I traded with them for a while.
The attractiveness was the low cost of option contract, 10 cents I believe.
However, very little was provided after that.
For instance, they could not track the number of Day Pattern trades.
It is up to each trader to keep count.
The User Interface was a bit rudimentary as well as the options chains viewing which required some type of gymnastics to switch between calls and puts.
I know they have improved a great deal recently and now offer our beloved free Paper trading account.
Yet, much-needed to be done to make it onto our awaited list of best stock trading platforms.
All That Shines Is Not Gold
Without any further delay, our Number 5 on this list is: Merrill Lynch.
The company is part of the old guard of the brokerage industry.
By my measurements, they mainly still cater to long term investors.
In the very competition sphere of online trading brokers, Webull is making great strides against more established platforms like E*TRADE. In this Webull vs ETRADE tutorial, I will present you with unique insights and facts to help you determine which one of these two brokers fills your trading needs in 2022 and beyond. Webull vs ETRADE or ETRADE vs Webull Let me preface by telling you that I have been using both of these brokers from many years now, ETRADE …
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When it comes to Option trading, their commission is at $2.95 fixed per leg plus $0.75 per contract.
From a competitive standpoint, they charge more than those I am putting ahead of them.
#1 in Education Tools
Fidelity is another old timer trying to keep up with the newcomers.
Some of my long tern investments have been with them for many years now.
I know the inside of their platform especially the Education and Research that does not come second to none.
However, when it comes to trading, I think they are still myself that little something that separate out Top 3.
May I also point out that the trading platform is not intuitive at all.
My friend Piti and I spent a good hour one day trying to input a not so complex multiple legs position.
Overall, there are just too many items not related to active trading on this platform for it to make it on our podium.
What is the Best Online Trading Platform ?
Before I reveal the top 3 Best trading platforms, I want to mention that I did further research before writing this article yesterday.
I wanted to get the some type of measure to separate the next three companies since their current offers are very similar.
Two of them are currently running this promotion where new customers can get free cash by funding a new account with a certain minimum amount.
They all have $0 minimum to open an account with similar based price (65 cents) per option contract.
So I went onto their websites yesterday well after the market had closed and tried to get a better feel about their customer services.
My # 3 Best Stock Trading Platform: TD Ameritrade
This one felt to number 3 for this one and only reason: there is no Chat feature to interact with a Live person.
They gladly provide a phone number where a new consultant can answer your call. That got them the # 3 spot.
The table below provides a head-to-head comparison in three areas : Education, Reliability and Option Trading.
Our Top stock Trading Platform dominates these rankings.
| Trading Platforms Comparisons | Education | Reliability | Option Trading |
|---|---|---|---|
| E*TRADE vs Webull | E*TRADE | E*TRADE | E*TRADE |
| E*TRADE vs Robinhood | E*TRADE | E*TRADE | E*TRADE |
| E*TRADE vs TD Ameritrade | Same | E*TRADE | E*TRADE |
| E*TRADE vs Fidelity | Fidelity | E*TRADE | E*TRADE |
| E*TRADE vs Merrill Lynch | Same | Same | E*TRADE |
Number 2 Spot goes to: Charles Schwab
There is a chat feature on their website and I was welcomed by Jamel form Indianapolis.
I felt a personal touch for them to disclose the location of the representative helping me.
One of their slogans reads: “Trading tools that are powerful yet easy to use”.
Well, this company has 3 sites for trading just so that you know.
Their charting tool runs on Adobe and I have had reports of it not always doing what it is supposed to do.
One of their sites provides Live Feeds from CNBC.
I do not know about you, but I tend not to like pundits interfering with my methodology when I trade.
Of course, one could turn it off but this is supposed to help traders, Really ?
These are the little things that go them second spot.
IS ETRADE BETTER THAN TD AMERITRADE AND WHY ?
So, who do you think is Numero uno, Numero Un, Number one ??
Drum Roll please….
E*TRADE is my # 1 Stock Trading Platform and this is Why.
They have come a long way since acquiring Optionshouse in 2017.
They have the lowest fee per option contract at $0.50. All the other ones are at $0.65.
I am aware that a trader needs more than 30 trades in a quarter to get that rate which most Day and swing traders can easily surpass in a single month.
Nowadays, inside of E*TRADE trading platforms, on top of the free Paper account and Futures, there is the trading Lab.
This is where I go to simulate my trades before I send my order.
Take a Look at this video showcasing how to place orders inside of that Paper account.
Once you have your positions, there is a Risk Slide feature to get a view of how all or some of your positions will fluctuate with the market based on the Beta and volatility that you can adjust.
This week, The Power E*TRADE Light Theme was revealed with a new look and feel.
Scanning through the data is much easier and faster.
CONCLUSION
We went through a review of the leading brokerage firms.
Our investigation of the Best Stock Trading Platform in the US led to the following rankings.
- E*Trade
- Charles Schwab
- TD Ameritrade
- Fidelity
- Merrill Lynch
We were able to answer the questions like:
- Is E*TRADE better than Robinhood
- Is E*TRADE better than Fidelity
- Is E*TRADE better than eOption
- Is E*TRADE Better than TD Ameritrade
Some may say I am biased because I have been using E*Trade for a long time.
I promise to take a shot at these rankings periodically so that I can update you the readers.
Do we have a deal ?
=============================== UPDATE JANUARY 2021 ===============================================
I promised back in 2019 when I first wrote this piece that I will be updating these rankings with new development.
Well, here were.
Webull has really been trying hard to bridge the gap to the top platforms as show in this comparison of Webull vs Robinhood.
To the point where I now can compare Webull vs. etrade in this video review.
I hope you enjoyed the fun rankings of the the Top 5 US Trading Platforms.
Please leave your comments and own ranking below.
TBP | Becoming A Successful Stocks and Options Trader
Email:Telex@Successfultradings.com
Facebook: facebook.com/telex.tbp.7
Yeah I was introduced to the E*TRADE in 2018 and I ever since then I have been so happy because i love the way they work on the platform,though there payment is very low compared to some other Stock Trading Platform but then they are fast and consistent that’s why am still in it there trading also is very easy and simple thanks for this post
Greetings Rose,
Glad to see that you are a customer of our #1 rated stock trading platform.
Where are you trading from if i may ask ?
Telex.
The right stock trading platform can be invaluable for passive investors and day traders alike. When I think of the best trading platforms what comes to mind first are things like low commissions/fees and ease of use. I agree it is a new world, much different from the old days of floor trading, so having the best electronic platform in order to gain a competitive edge can be crucial. I have to agree with your number 1 choice in E-Trade as they have attractive commissions and a tried-and-true platform. 30 trades per quarter is pretty reasonable as well. For me, it’s almost time to start getting back into trading, so I will save your post for when it’s soon time to do so. Thanks for the great recommendations. I look forward to reading more posts!
Hello Pentrental,
Thank you for finding the article useful for your upcoming return to trading.
Have a great day.
I found the comparisons in this article very helpful. It is interesting to note the features that traders prefer in their activities. I like research and background information, someone available for live chat, and quick response. Sometimes I look at the costs ( commission and contract etc) . I realize that cheaper does not always work out better if the service is not good and I don’t make a profit. I can see why you chose those top 3 and I am looking forward to more updates and discussion on trading. Thank you !
Great to hear from you JJ,
Did you get a chance to follow us so that you will be notified on our next post ?
Have a great day.
Hi Telex. Good to see you share your top 5 best stock trading platforms. I have heard of some other stock trading platforms before but I have no idea of these ones you listed here.
I have been contemplating for some time now if I should go into stock trading, but I am not convinced to go into it because of the risk involved. How am I assured that E*TRADE will not fail me?
Greetings Shifts,
The platform does not by itself determines a trader’s success.
Becoming Successful at trading has more to do with what the trader is doing
Or not doing. We address different aspects of trading in our articles
That are suited to beginners.
Do take the time to go these free trading Tutorials so that you are
Prepared for Becoming A Successful Stock Options Trader.
Have a productive day.
I’m getting more interested in stocks. Not easy for me since I have a rather minuscule income. I’m not even impressively savvy with normal finances. I thought about trying Stash once, but chickened out after I had opened the account. Would you say E*Trade is a good option for beginners? I don’t even know many of the terms, yet, but I truly am interested. Since I am aware of what a paper account is, I’d definitely want to start there. You really seem to know what you’re doing, so I appreciate the information!
Greetings,
Thank you for the kind words.
Yes, E*Trade is a good platform for beginners because of the training it provide and also because
it has the lowest fees for options hence we ranked it number 1.
Paper trading or demo account is available and comes with $100,000 virtual money you
can use to test your strategies.
Hope this helps, have a great day.
Great article. It’s quite interesting to see how the “oldsters” in this field compare to the “up-and-comers”. It shocked me to see the WeBull’s information is 15 minutes delayed. That may as well be a lifetime. Although it is always comforting to stick with the old guard, I would have to agree that E-Trade is tops. I love it that you can run simulations before buying and the low costs. Thank you!
Greetings Feochadan,
Thanks for stopping by to leave us a comment.
I agree with you and the Trade Lab simulator.
It is pretty awesome.
Have a great weekend.
I’m a fan of E-trade ever since, even during the early days of the internet and online day trading. They were one of the pioneers and they spearheaded the process of placing an order not through phone lines but online. Also, I loved their “direct access and no brokers needed” feature which was copied by other companies. Today, I am surprised that their focus have shifted to options trading which although I am not fond of it, is okay too.
I’d like to ask something about E-trade… Can I still use the platform not for options but for the more traditional way of investing in stocks? I mean, instead of betting for which direction the market will go, I’d like to bet on the stocks I’m investing. Let’s say for example, I like the stocks of NVIDIA because of their computer products and with the recent release of their latest video cards, I expect their stock to go up. Can I still use E-trade for that purpose only?
Hello Gomer,
Absolutely, E*trade still offers regular stocks trading.
So yes you can invest in Nvidia stock and many others
On this platform.
We appreciate your comment.
I used E*TRADE years ago but due to the changes in regulation, my account was closed as a non-US resident trader. I have since used a local platform, which lack trading options and features. Your list is good for me to evaluate platforms for trading options. However, I still need to find out more if I can trade as an international. The regulations are getting more complicated and restrictive. Thanks for the info.
Hello Stanley,
Thank you for your feedback.
I feel your pain about the international regulations.
You should try these Top companies we reviewed to see
If those regulations still stand.
Have a great weekend.
I was introduced to etrade before but I didn’t really know so much about trading then but it seemed really cool. A few days ago and I went to check it out and I was able to notice some very strong changes i the platform. I feel like more people should use it. I dont see this as been biased at all. You must have your own reasons. Is there a post here that gives the terminologies in trading?
How are you Henderson ?
Yes, we have two articles dedicated to the terminology.
Try this one or this most recent one.
Thank you for your time.
I have actually heard of fidelity before but I didn’t know that the platform was one of the best. It is a good thing that you can bring in some of your best here. I am currently receib=ving training on how the stocks work. I wouldn’t want to jump into one trading platform but most definitely, I would be using your number one recommendation.
Hello John,
Thank you for stopping by and sharing your experience.
Looking forward to helping you in you future endeavors.
Thanks