Stock Trading: Choosing a Broker

Best Brokerages for Stock Investing

When determining your preferred approach to stock investing, it’s important to consider the various types of brokers available. In the past, brokers were typically categorized into two main types:

Full-service brokers: #

These brokers offered a comprehensive range of services, including assistance with investment accounts, retirement planning, personal finance decisions, and executing stock orders on your behalf.

Discount brokers #

Historically, investing in the stock market involved using full-service brokers or relying on your bank. Discount brokers, as they are known today, were not as prevalent. These brokers allow you to take charge of your own trades, requiring you to understand your risk tolerance, evaluate whether individual stocks align with your investment preferences, and decide between long-term investing or short-term trading.

In today’s era, smartphones have revolutionized how we engage with finances, including investing in the stock market. Some investors prefer an active approach, while others opt for a passive strategy through investments in individual stocks, ETFs, or mutual funds.

To find the best stock trading app or platform that suits your needs, consider the following list of brokerage account options. These platforms cater to a wide range of investors and offer diverse features to enhance your investment experience.

AppApple App Store Rating +
Best For
☆ 4.7 / 5
Self-directed investors and intermediate traders
Commission-free tradesTwelve free stocks with $5 deposit, valued between $52 – $30,600
Plynk Invest
☆ 4.6 / 5
Commission-free trades**$60 in signup and net deposit bonuses
J.P. Morgan Self-Directed Investing
☆ 4.8 / 5
Self-directed investors and Chase customers
Commission-free tradesFree account bonus commensurate with contributed funds
☆ 4.7 / 5
Social theme-based investing interests
Commission-free trades$3 – $300 worth of free stocks for signing up
☆ 4.2 / 5
Basic stock and ETF investing; options
Commission-free tradesFree stock with sign up
☆ 4.6 / 5
Advanced traders
Commission-free trades17 free stocks + $100 cash reward (worth $400 – $30,600 in total)
SoFi Invest: iOSAndroid and Desktop
☆ 4.8 / 5
Fee-free active trading and automated investing
Commission-free tradesFree stock worth between $5 – $1,000
☆ 4.7 / 5
Automated investing
$3/month – $5/month$5 sign up bonus when making first deposit at account opening
M1 Finance
☆ 4.7 / 5
Passive investors
Fee-free active trading and automated investing
Commission-free trades and automated investingNone
☆ 4.7 / 5
Young investors looking for a complete personal finance platform
$3/month – $9/month$5 stock bonus for making a deposit of $5 or more
☆ 4.7 / 5
Basic ETF investing
Commission-free tradesNone
☆ 4.7 / 5
Building a globally-diversified portfolio
0.25% AUMNone
*Apple App Store Rating as of May 31, 2023

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