Best Overall Online Brokerage
Why They Won
The best overall online brokerage should work for just about everyone, from first-time investors learning to buy stocks to the seasoned trader running complex options strategies. Fidelity delivers on all counts. It has no account minimums, low fees, a variety of mutual fund options, and you earn interest on your uninvested cash automatically, maximizing your opportunities to grow your money. In addition to getting the product fundamentals right, Fidelity offers robust educational resources that cater to traders at all levels.
Best Brokerage for Beginners
Why They Won
Getting started with investing is overwhelming, but E*TRADE shines by making the experience of opening, funding, and placing your first trade seamless for first-timers. E*TRADE’s online platform is intuitive and straightforward, but what really makes E*TRADE stand out for beginners is the paper trading feature, which lets you practice with $100,000 in virtual funds before you commit a single real dollar. Add in a robust library of educational content and on-demand webinars, and you have a platform that actively helps you learn as you invest.
Best Brokerage for Advanced Traders
Why They Won
Interactive Brokers blends a depth of investment options with tools that give serious traders everything they need in one place. Offering some of the lowest margin rates in the industry, Interactive Brokers is designed for active, experienced traders who need the ability to access securities from around the world. Interactive Brokers also offers multiple trading platforms for traders to use based on their own needs.
Best Online Brokerage for Long-Term Investors
Why They Won
Long-term investing is built on trust, something Schwab’s name and reputation have been built on for over 50 years. Its lineup of proprietary index funds and ETFs is among the most competitive in the industry, and the platform’s breadth makes it easy to build and maintain a diversified portfolio over decades without jumping between providers. Specifically, Schwab offers excellent IRA and retirement options catered to long-term investors.
Best Overall Robo-Advisor
Why They Won
A great robo-advisor should do more than just pick your funds. It should also actively work to improve your overall returns and keep you on track toward your goals. Betterment does both. Its automated tax-loss harvesting is available to account holders, and nearly 70% of customers using tax-loss harvesting covered their taxable advisory fees through estimated tax savings, according to the platform1 <p>Based on actual advisory fees paid on taxable accounts only for Betterment individual retail client users in 2022-2023. Tax savings calculations are based on clients’ self-reported income, tax filing status, and reported number of dependents, and they assume the standard deduction. Betterment’s calculations do not take into account the effects of any trades that may have occurred outside of Betterment in clients’ external accounts. This figure pertains to 2022 only, and does not consider any losses or gains from prior years. Note that harvest opportunities vary depending on market conditions in a given calendar year; 2022 may not be representative. Tax savings through TLH are not a measure of investment performance and results are not guaranteed. Please see Betterment’s TLH White Paper and TLH Disclosure for more information. Betterment is not a licensed tax advisor. Tax Loss Harvesting (TLH) is not suitable for all investors, and certain conditions apply; consider your personal circumstances before deciding whether to utilize Betterment’s TLH feature.</p> . Betterment’s Premium Plan also offers unlimited calls with Certified Financial Planner (CFP) professionals and licensed financial experts for those who want a more personalized experience.
Best Robo-Advisor for Beginners
Why They Won
Stash is the perfect example of an app that goes the extra mile to help beginners start their investment journeys3 <p>Paid non-client endorsement. See Apple App Store and Google Play reviews. <a href="https://www.stash.com/start-investing/financebuzz10">View important disclosures.</a></p> <p>Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. Investing involves risk and investments may lose value. Nothing in this material should be construed as an offer, recommendation, or solicitation to buy or sell any security. All investments are subject to risk and may lose value.</p> <p>Advisory products and services are offered through Stash Investments LLC, an SEC registered investment adviser.</p> . Offering a variety of ways to start investing with the flexibility of some self-direction, Stash excels as a low-cost option for any level of investor, whether you want full automation or self-direction. Stash also doubles as an account for your cash, and you can earn stock back (like cashback) on debit card purchases.4 <p>Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. Investing involves risk and investments may lose value. Holdings and performance are hypothetical. Stash Banking services provided by Stride Bank, N.A., Member FDIC. The Stash Stock-Back® Debit Mastercard® is issued by Stride Bank pursuant to license from Mastercard International. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Any earned stock rewards will be held in your Stash Invest account. Investment products and services provided by Stash Investments LLC, not Stride Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. In order for a user to be eligible for a Stash banking account, they must also have opened a taxable brokerage account on Stash.</p> 5 <p>Stash Banking services provided by Stride Bank, N.A., Member FDIC. The Stash Stock-Back® Debit Mastercard® is issued by Stride Bank pursuant to license from Mastercard International. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Any earned stock rewards will be held in your Stash Invest account. Investment products and services provided by Stash Investments LLC, not Stride Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. In order for a user to be eligible for a Stash banking account, they must also have opened a taxable brokerage account on Stash.</p> <p>All rewards earned through use of the Stash Stock-Back® Debit Mastercard® will be fulfilled by Stash Investments LLC. You will bear the standard fees and expenses reflected in the pricing of the investments that you earn, plus fees for various ancillary services charged by Stash. In order to earn stock in the program, the Stash Stock-Back® Debit Mastercard must be used to make a qualifying purchase. What doesn’t count: Cash withdrawals, money orders, prepaid cards, and P2P payment. If you make a qualifying purchase at a merchant that is not publicly traded or otherwise available on Stash, you will receive a stock reward in an ETF or other investment of your choice from a list of companies available on Stash. 1% Stock-Back® rewards are subject to <a href="https://lp.stash.com/stride-stash-stock-back-rewards-terms-and-conditions/">terms and conditions</a>. Stock rewards that are paid to participating customers via the Stash Stock Back program, are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. Stash reserves the right to amend this program and the terms and conditions thereof and/or cancel this program at any time, for any reason, upon notice to you. See <a href="https://lp.stash.com/stride-stash-stock-back-rewards-terms-and-conditions/">terms and conditions</a> for more details.</p> 6 <p>Stash Banking services provided by Stride Bank, N.A., Member FDIC. The Stash Stock-Back® Debit Mastercard® is issued by Stride Bank pursuant to license from Mastercard International. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Any earned stock rewards will be held in your Stash Invest account. Investment products and services provided by Stash Investments LLC and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.</p>
Best Robo-Advisor for Hands-Off Investing
Why They Won
Wealthfront is ideal for hands-off investors who want full automation at every level, from making investment strategies you can trust to automatic rebalancing and tax-saving strategies. Wealthfront's "self-driving money" approach handles everything from start to finish, including rebalancing, tax-loss harvesting, and dividend reinvestment every single day. If you want to set it and genuinely forget it, this is the platform for that.
Best Robo-Advisor for Custom Portfolios
Why They Won
Though “custom” usually doesn’t align with roboadvisors, advanced traders looking to integrate a robo-advisor into their larger investment strategy have learned to trust Schwab. Schwab Intelligent Portfolios offer 80+ portfolio variations across 20+ asset classes, distinct investment strategies, and multiple risk profiles, giving you far more say in how your money is managed than most automated services allow.
Best Robo-Advisor for Low Fees
Why They Won
Among robo-advisors that offer managed portfolios, automatic rebalancing, and access to financial planners, SoFi has one of the lowest barriers to entry.12 <p><b>INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE</b></p><p>Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser.</p> The $50 minimum makes it accessible for investors just starting out, and the 0.25% fee13 <p>0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and recordkeeping services separately.</p> is on the low end of what you’d pay with any serious robo-advisor. The complimentary CFP session is a nice addition that most robo-advisors simply don't offer at this price point.14 <p>Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at <a href="http://www.adviserinfo.sec.gov/" style="background-color: rgb(255, 255, 255);">www.adviserinfo.sec.gov</a>.</p>
Best Everyday Trading App
Why They Won
Robinhood is the market leader in daily trading with good reason. Its interface, ease, and frictionless user experience have stayed top-of-class as it’s transitioned from market disruptor to industry leader. Robinhood isn’t just about stocks; it’s an all-in-one platform that includes banking, retirement, crypto,16 <p>Other fees may apply.</p> and even prediction markets, leveling up with its users as a well-rounded financial app.17 <p>Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the <a href="https://cdn.robinhood.com/assets/robinhood/legal/Characteristics%20and%20Risks%20of%20Standardized%20Options.pdf">Characteristics and Risks of Standardized Options</a> before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.</p> <p>Robinhood Financial does not guarantee favorable investment outcomes. The past performance of a security or financial product does not guarantee future results or returns. Customers should consider their investment objectives and risks carefully before investing in options. Because of the importance of tax considerations to all options transactions, the customer considering options should consult their tax advisor as to how taxes affect the outcome of each options strategy. Supporting documentation for any claims, if applicable, will be furnished upon request.</p> <p>Financebuzz is compensated by Robinhood to produce this content.</p> With zero commissions16 <p>Other fees may apply.</p> , a beautiful app, and deep market access, Robinhood’s core has always been about bringing investing to the masses, and it’s consistently done a good job of doing so.
Best for High-Wealth Financial Planning
Why They Won
At a certain level of wealth, the questions get more complex than any algorithm can handle. Fisher Investments offers a tailored, personalized approach to financial planning, with high-touch client service that caters to high-net-worth customers and all the financial complications that come with being one. Every client gets a dedicated Investment Counselor, helping you make personalized choices that will benefit your family’s unique financial circumstances. As a fee-only fiduciary, Fisher only makes money when you make money, so you know they aren’t just selling you products without believing in them.
Best Social Investing Platform
Why They Won
Blending an investment app with the transparent validation of social media, WeBull18 <p>Webull Financial LLC, Member SIPC, FINRA. Regulatory and other fees may apply. Webull is not a bank. Rates subject to change. More info: <a href="https://www.webull.com/disclosures">www.webull.com/disclosures</a></p> offers a robust community of investors that brings a human element to online investing. WeBull integrates social and analytical tools seamlessly, letting you see the most popular and talked-about stocks, follow traders, and engage in its in-app trading community.
Methodology
When choosing our FinanceBuzz Investment Award winners, we considered quantitative factors like our star ratings as well as qualitative inputs based on discussions within our editorial team. We've aimed to identify the best companies for specific purposes or types of people. While some winners may be partners, this did not influence who we chose to win awards.
How we chose the winners
We began by compiling a list of over 50 brokerages, investment apps, and service providers, collecting data on each, and scoring them. Then, for each category, we identified minimum criteria to be included in our evaluation group. For example, when looking for the best brokerage for beginners, we looked at trading and account management costs, how intuitive the platform was, and whether it provided educational support for new investors.
Then within that narrowed group, we determined the most important ranking factors to compare the accounts head-to-head. Those ranking factors tie directly to the award category and vary for each award. Some of the factors we examined were quantitative, such as account minimums and account management fees, while others were qualitative, such as website usability. In the end, each account received a category-specific score that was used to determine the award winner.