As a trader or investor of any kind, having the right tools at your fingertips can be the difference between losing and consistently profiting. These tools are provided to us by our brokers. There are countless different online broker options you can open an account with, but some are much better than others and some will give you all the trading tools you need to Master the Market!

Before mentioning any actual brokers, it's important you know some of the things you should look into before opening an account with any broker.

Fees: Obviously no one wants to open a new brokerage account to soon after find out that there are a ton of hidden fees. Even though most brokers are commission-free now, there may still be fees associated with their trading platforms, deposits, withdraws, etc. Most brokers will have a page of their website dedicated to any and all fees that they may have... make sure to check it out!

Platforms: Do you trade on your phone? Would you prefer a desktop app? Are you going to be trading on a Mac or MacBook? These are all important questions when it comes to finding the right broker for you. Some brokers will only have mobile apps. Others may not even have a mobile app, only one for a desktop. Unfortunately, there's actually a lot of desktop trading platforms that are not compatible with Macs and MacBooks. Look into what kind of platforms are offered by a broker before you open an account with them.

Account Minimum: Most new traders that are just opening their first brokerage account do not have a ton of money to initially deposit. There's nothing wrong with that, but some brokers won't allow you to open an account with them if you don't meet their minimum account size. While most of them have minimum accounts ranging from $0 to $2,000... others can be as high as $30,000 so it's important to know whether you'll be able to meet the minimum balance before you start the sign up process with a new broker.

With all of that out of the way... let's talk about some brokers. Of course, everyone has their own trading preferences, so I'm going to split these brokers into groups so you can find one that best suits your personal trading needs. Full disclosure: Some of the mentioned brokers may contain affiliate links.

Mobile Brokers

robinhood app best mobile broker

Robinhood: At this point pretty much everyone has heard about Robinhood. They were the free commission-free trading app and pretty much the sole reason that most other brokers are now also commission-free. Their simple trading app is one of the reason they've become so popular, but it does have its limitations. Robinhood may work for you if you're using other website or platforms to do things like scanning and technical analysis. Otherwise, the simplicity of their mobile platform may not be enough to suit your trading needs.

Commissions: $0 for stocks, $0 options

Fees: No platform fees, no deposit/withdraw fees

Minimum Balance: $0

Platforms: Robinhood mobile app, Robinhood web

Software Compatibility: IOS, Android

Short-Selling: No

webull trading best mobile broker

Webull: Very similar to Robinhood, Webull was also one of the first commission-free trading apps. In my personal opinion, Webull is actually a better option that Robinhood. The reason is because they actually have more advanced web-based platform available, making it better for charting and analysis. Also, Webull allows users to short-sell, which Robinhood has not yet made available to their clients. Although it's probably best that most new traders stick to the basics of buying and selling before getting into short-selling, being able to short when the time is right is definitely beneficial.

Commissions: $0 for stocks, $1 per option contact to open trade

Fees: No platform fees, no deposit/withdraw fees

Minimum Balance: $0

Platforms: Webull mobile app, Webull web

Software Compatibility: IOS, Android

Short-Selling: Yes

Other Similar Platforms: SoFi Invest

Best Platforms

td Ameritrade best broker

TD Ameritrade: TD Ameritrade is one of the most well-known brokers worldwide and offers one of the most powerful trading platforms on the market. Their Thinkorswim platform has countless tools and features for traders and investors, including the best charting software I've personally ever used. Some of the most useful tools include fully customizable scanners, paper trading, and even a feature called "On Demand," which actually allows you to go back in time and re-watch the market on any selected day and at any selected time. Along with Thinkorswim, they also have online trading and a thinkorswim mobile app with a ton of features too.

Commissions: $0 for stocks, $0.65 per option contract

Fees: No platform fees, no deposit/withdraw fees

Minimum Balance: $0 or $2,000 for margin

Platforms: Thinkorswim mobile app, Thinkorswim desktop app, TD Ameritrade web

Software Compatibility: IOS, Android, Windows, Mac

Short-Selling: Yes

etrade best day trading broker

Etrade: Etrade is another very well-known, reputable broker and one that I've been using to trade for years with no major issues. Etrade has multiple trading platforms available for both desktop and mobile. Another nice thing about Etrade is that they have pretty good short locates. I personally short-sell 90% of the time and many times it can be difficult to find shares to borrow in order to short, but Etrade has pretty consistently had a good availability of shares.

Commissions: $0 for stocks, $0.65 per option contract or $0.50 per option contract with 30+ trades per quarter

Fees: No platform fees, no deposit/withdraw fees

Minimum Balance: $500, $1,000 for ETrade Pro, $2,000 for margin

Platforms: ETrade mobile app, Etrade Pro desktop app, Etrade web

Software Compatibility: IOS, Android, Windows, Mac

Short-Selling: Yes

Other Similar Platforms: Charles Schwab, Fidelity

Short-Selling

interactive broker best day trading broker

Interactive Brokers: Interactive Brokers is one of the world's largest brokers offering trading in just about anything you can imagine for traders worldwide. Stocks, ETFs, options, futures, forex, and more can all be traded at Interactive Brokers. They're also great option for short-selling with an impressive short availability feature. The screenshot below shows the top % gainers for the day. The light green, dark green, and red boxes next to the symbols tells you whether the stock can easily be sold short, if it's hard to borrow (HTB), or if it can't currently be shorted.

interactive brokers short availability

Commissions: $0 for stocks with IBKR Lite, $0.005 per share with IBKR Pro, $0.65 per option contract

Fees: $10 per month platform fee unless you generate $10 or more in commissions per month, no deposit fees, 1 free withdraw per month then $1 per ACH withdraw

Minimum Balance: $2,000

Platforms: Trader Workstation mobile app, Trader Workstation mobile app

Software Compatibility: IOS, Android, Windows, Mac

Short-Selling: Yes

tradezero short selling broker

TradeZero: TradeZero has been known lately for having shares to short of some of the biggest runners, which are often hard to come by. Because of that, it's a great option for anyone that focusses on short selling. As in their name, you can also trade for $0 with TradeZero being that it's another commission-free broker. I personally have never used any of their trading platforms, but I will say that they have plenty of options available for both desktop and mobile.

Commissions: $0 for stocks, $0.99 + $0.79 per option contract

Fees: No platform fees for ZeroMobile and ZeroFree platforms, $79 per month for ZeroPro or $0 if you trade 100k shares per month, no ACH deposit fee, $5 ACH withdraw fee

Minimum Balance: $500 or $2,000 for margin

Platforms: ZeroMobile app, ZeroPro desktop app, ZeroWeb

Software Compatibility: IOS, Android, Windows

Short-Selling: Yes

Other Similar Platforms: SpeedTrader, Cobra Trading


Other

tradenet funded account no pdt

Tradenet: Tradenet is a unique way to get started trading with very limited capital. When you sign up for Tradenet, they actually give you funds to trade with and allow you to keep up to 85% of the profits from using their money! Obviously, their trading platform has built in risk-management feature to make sure you don't lose all of their capital, but its a great way for traders with limited money to get started trading and to be able to day trade as frequently as they'd like. For more information about how Tradenet works, check out my YouTube video here. *As of June 1, 2020 Tradenet is no longer accepting clients from the U.S.

Commissions: $0.0075 per share

Fees: $350 enrollment fee, $15 per month platform fee, 15-30% profit share

Minimum Balance: N/A

Platforms: TEFS desktop app

Software Compatibility: Windows, Mac

Short-Selling: Yes

Other Similar Platforms: Capital Markets Elite Group (CMEG)

Although having the right broker for your trading style can be very helpful, it's not going to be enough to make you into a successful trader. If you want to take your education a step further and learn the strategies that I use to trade full-time then click the button below to get started as a Master the Market team member!


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