Best Online Brokers, Compared by What They're Actually Good At
Instead of one overall winner, here's how eight major brokers actually stack up depending on what kind of investor you are.
Why there's no single "best" broker
Every "best broker" ranking has to make a judgment call about what "best" even means, and those judgment calls rarely apply equally to every reader. A platform that's excellent for a buy-and-hold index investor can be mediocre for an active options trader, and a broker with unbeatable global market access can be overkill for someone who only ever wants to buy a handful of ETFs. Rather than crown one overall winner, it's more useful to compare brokers by what they're each actually strongest at. Our individual reviews of each broker below go into more detail on fees and features.
For long-term, low-cost investors
DEGIRO and Fidelity both stand out here from different angles. DEGIRO offers genuinely low per-trade costs on stocks and a monthly free trade within its Core Selection ETF list, aimed squarely at cost-conscious European buy-and-hold investors. Fidelity, for U.S.-based investors, pairs commission-free stock and ETF trading with its well-known Fidelity ZERO index funds, which carry no expense ratio at all — a strong combination for retirement-focused, decades-long investing.
For beginners who want simplicity
Trading 212 and Robinhood both prioritize a clean, mobile-first experience with no account minimums and fractional shares, letting a new investor start with a small amount of money without friction. Trading 212's Pies and AutoInvest features add a genuinely useful structure for automating regular contributions, while Robinhood's simplicity extends to crypto and options in the same app, for investors who want everything in one place.
For active and advanced traders
Interactive Brokers is the standout for serious active traders and global investors, with access to 90-plus markets, competitive margin rates, and a professional-grade platform in Trader Workstation — at the cost of a steeper learning curve than beginner-friendly apps. Charles Schwab, especially through its thinkorswim platform inherited from the TD Ameritrade acquisition, is a strong alternative for U.S. traders who want professional tools alongside Schwab's broader banking and research ecosystem.
For social and copy trading
eToro remains the most prominent name in social investing, letting users follow and automatically copy the trades of other investors on the platform, alongside conventional stock, ETF, and crypto trading. It's a genuinely different way to approach investing, worth understanding on its own terms rather than judging purely against traditional discount brokers — and worth reading the CFD-specific risk disclosures for, if you venture beyond straightforward stock and ETF investing on the platform.
For European traders wanting a wide instrument range
XTB combines a large selection of tradable instruments — forex, CFDs, and real shares and ETFs — with commission-free stock and ETF trading up to a fairly high monthly volume threshold, through its proprietary xStation platform. It's a strong option for Central and Western European traders who want both straightforward investing and access to leveraged products in the same account, provided the leveraged-product risks are well understood first.
- Long-term, low-cost investing: DEGIRO, Fidelity
- Beginner simplicity: Trading 212, Robinhood
- Active and advanced trading: Interactive Brokers, Charles Schwab
- Social and copy trading: eToro
- Wide instrument range in Europe: XTB
A ranking built around one score tells you who won somebody else's priorities. A comparison built around use cases tells you who's likely to win yours.
A note on how we approach broker content
Fees, features, and regulatory details for every broker change over time, so always confirm current terms directly on a broker's own website before opening an account or moving money.
This article is educational and general in nature. It isn’t personalized investment, tax, or legal advice — always weigh your own circumstances, or talk to a licensed professional, before making financial decisions.