Top 10 online investment platforms and companies of 2023 (2023)

Find an online brokerage app that will help you invest smarter

Choosing an online investment platform is not a decision to be taken lightly. As every investor knows, the right app can help you make a handsome profit, make smart trading decisions, and save you from catastrophic decisions that lead to significant losses.

So what goes into a quality investment proposal? Below we have listed some of the key features a service needs to rank as a top online investment app. So take a look and learn a thing or two about buying stocks online.

trading options

Possibly the biggest factor in deciding what trading options a service offers is how much flexibility and availability you get when it comes to trading. Investment options range from IRA, mutual funds, exchange traded funds, stocks, bonds, international investments and more, and not all services cover each of these categories.

research and education

Whether you know a lot about stock market trading or not, research is a must. In fact, the more you start to learn, the more you understand that understanding common trends, social signals and market fluctuations is essential to making good trading decisions. How much research an investment app allows you to do and helps you make the difference between smart trading decisions and everything that lies behind. As this will greatly affect your overall investment experience, investors should place a lot of weight on the research factor of an investment service.

automation

For many, trading is not an enjoyable pastime, and the less they have to think about their options, the happier they are. For this reason, many online investment platforms offer automation tools that do trading, analysis and distribution without human intervention (let alone the account holder). Bots make calculations, corrections and decisions based on market trends, social tips and other tips provided when you sign up for an account. Automation is the ideal resource for those who do not know enough about the stock market or are not interested in working behind the scenes, essential aspects of the business with numbers.

Customer service

Customer service is important for most software products you buy, but especially important for an investment platform that can affect your livelihood. If you can't find a feature in your photo editing app, or if the video streaming site temporarily stops streaming, it won't do much harm.

This is not the case with an online investment app. Even a small system glitch can have a significant impact that can result in huge losses or missed trading opportunities. Therefore, good customer service is essential.

Mobile app and ease of use

A good mobile app is a godsend for active traders. If you only do it once in a while, it might not be as important to you. However, for investors who interact with their investments frequently, mobility is key.

The easier a system is to use, the more people will enjoy their experience with the software, so ease of use is also a very important factor. Different apps have different ways of making the user experience smoother and more enjoyable, offering a variety of features, tools, and design layouts to serve this purpose.

Tools are also useful when it comes to trading, so put them into your equation. It is also good when the service has multiple trading platforms to suit different types and levels of investors.

Here is a look at 10 brokerage apps that meet the above requirements, catering to all income levels, investment goals, and trading experience:

1. Karl Schwab

• No fees or minimum balance requirements
• Comprehensive search tools
• Free Robo Advisor

An accessible platform that offers countless trading opportunities for all types of investments,Karl SchwabIt is a good choice, especially for beginners. There are no fees and no minimum balances, but plenty of resources to educate and keep you up to date on the world of stocks in general and your investments in particular. The platform offers numerous research tools and a free robotic advisor, which together give you the opportunity to be guided and make your own informed decisions.

2. Loyalty

• No trading and account fees
• More than 3,000 mutual funds
• Ruhestands-Score-Tool

loyaltyit has excellent research tools for investors and an amazing number of mutual funds to choose from. User tools include calculators, a robotic advisor option and the retirement score tool to help you define, track and achieve your retirement goals. Customer service is also exceptional, which is crucial for long-term investors and those planning to make adjustments over time.

3. Merrill Edge

• Ongoing service for Bank of America customers
• Zero commissions
• Zero Minimum Account

Merrill Edgecovers all your bases with reliable third-party research, a modern platform, and responsive customer service. Merrill, operating under its parent company, Bank of America, offers a rich yet affordable entry point to trading that appeals to seasoned and casual traders alike. Those with Bank of America bank accounts will find Merrill to be a natural fit.

4. Americano

• No fees for stocks and ETFs
• No account minimum for DIY Portfolios
• Extensive search tools

TD Ameritradeis a great example of what investors can achieve with the right research tools. This app provides members with Social Stocks, Stock Metrics, Stock Reports, Comparisons and Social Metrics, and ETF and Mutual Fund Reports. TD Ameritrade's social trending indicators include brand-relevant tweets and top-tweeted brands, and peer-to-peer comparison charts are something you won't find anywhere else.

5. improvement

• Leading robo advisor platform
• no minimum account
• ideal for beginners

improvementit makes it even better by taking into account all your different financial indicators and choosing the best trading options for you. It even includes taxes!

6. Foundry

• Invest in real estate with low minimums
• Open to non-accredited investors
• easy to use platform

fund raisingallows people of all income brackets to get into the real estate investing game with REITs in commercial and private residential real estate. The simple and accessible platform invites non-accredited investors to participate in real estate investments with reduced minimum values. Not ideal for everyone, Fundrise is a unique platform for those without fancy means to try real estate investing.

7. Acorns

• great for students
• Useful tool to save "changes"

nutsis a small guy in the industry, but he's also helping little guys break into this niche. Acorn offers free administration for college students and invests their savings in the most practical and profitable way possible for their financial situation. Acorn offers in-depth training materials and resources, such as terminology dictionaries, help videos, and business resources that explain what steps you can take and why or when you should take them.

8. E-Commerce

• Zero Minimum Account
• Zero trading fees
• More than 4,000 mutual funds

Etradewhich has a great mobile app for beginners. The app offers comprehensive explanations, integrates with multiple devices including Apple Watch, provides real-time alerts, and has CNBC on demand. Etrade offers commission-free stocks and over 4,000 mutual funds.

9. Asset Front

• Focus on low-cost index funds
• Technology-driven automatic investments
• free wealth management

wealth front, an entirely unique option, offers free wealth management of up to $10,000 and charges just 0.25% per year thereafter. This service falls under “passive investment” and relies on technology-oriented automotive investment for long-term growth, making it a more targeted option for millennials and less-committed tech-savvy users. It has a few other factors that set it apart from the competition, including standalone money tools. Due to Wealthfront's unique approach, it's wise to research it thoroughly before deciding if it's the best option for you.

10. Robinhood

• One of the first free platforms
• Cryptocurrency trading options

Robin Hoodit's a completely free platform, but you're definitely giving up some of the quality that comes with paid services. You'll settle for fewer investment options, significantly less research and education options, and trading tools. However, those interested in trading cryptocurrencies can use Robinhood to fill a niche that the larger platforms have yet to enter.

Brokerage apps mean smarter investing

Whether you're new to investing or looking to diversify your portfolio, the above platforms offer a variety of ways to invest smarter and perhaps venture into new markets. Technology makes it easy to track your investments, move money and stay informed so you can make the best decisions possible and earn more. Try it today!