Best online brokers of 2021

• Best for new and active traders seeking commission-free stocks.

• Look elsewhere if you want to trade bonds, mutual funds or OTC stocks.

Webull nabs our highest rating because it successfully edges out its competition across a spectrum of metrics. It’s a well-balanced platform with features designed to cater to new and experienced traders. The desktop app is outfitted with an extensive suite of research tools, including watchlists, charts, stock screeners and real-time market data. The mobile app is well received, and traders can test the viability of their trading strategies with Webull’s paper trading feature.

The biggest drawback to Webull’s platform is its limited range of securities — those seeking mutual funds, bonds, futures, forex or crypto trading will be disappointed. And it doesn’t offer retirement or joint accounts, narrowing its target market to investors seeking an individual brokerage account to swap stocks and options.

• Best for self-directed traders and passive investors seeking portfolio management.

• Look elsewhere if you’d prefer to use a robo-advisor.

Ally Invest helps active investors take advantage of competitive trading fees, a comprehensive suite of research tools and responsive customer support. Hands-off investors have four distinct portfolios to choose from and — best of all — pay no advisory fees.

Ally Invest’s mobile app is well reviewed, and traders can buy and sell a respectable lineup of securities, including stocks, ETFs, bonds, mutual funds and options. It even offers access to more than 50 currency pairs in the forex market with no commission costs. And no major service outages have been reported.

But no platform is perfect — even those with the highest ratings. Ally Invest charges $0.50 per options contract, and we uncovered a small number of complaints citing refresh rate delays on the mobile app.

• Best for new and experienced traders seeking robust research tools.

• Look elsewhere if you want to trade forex or crypto.

Charles Schwab makes our best brokers list because it’s well-equipped, has a solid lineup of tradable securities and offers 24/7 customer support. You can trade just about anything from a Charles Schwab brokerage account and its advanced research tools are suitable for beginners and advanced traders alike. Stocks and ETFs are commission-free and fees for options and mutual funds are on par with competitors.

So, what’s not to like? Traders complain of a buggy Android mobile app and the platform doesn’t offer access to forex or cryptocurrency.

• Best for advanced traders seeking sophisticated research and analytics tools.

• Look elsewhere if you’re interested in portfolio management services.

When TD Ameritrade acquired the Thinkorswim trading platform in 2009, it established itself as a brokerage that could cater to advanced traders. Despite already having an in-house web and mobile trading platform on hand, TD Ameritrade upped the ante with Thinkorswim’s desktop, mobile and web trading platforms, making TD Ameritrade one of the best-equipped brokerages on the market.

In addition to its five available trading platforms, TD Ameritrade offers commission-free stock trading, access to 75 currency pairs on the forex market and — thanks to Thinkorswim — some of the most robust research and analytics tools in the industry. TD Ameritrade also won itself a bonus star for its paper trading feature.

The drawbacks? Investors report a steep learning curve navigating the Thinkorswim platforms, and Google Play users report mobile app freezes.

• Best for beginner investors seeking commission-free trades or a no-fee robo-advisor.

• Look elsewhere if you’re an active investor that trades derivatives.

SoFi Invest is one of the most competitively priced platforms on the market. Investors pay no commissions on stocks or ETFs and no account transfer fees. Plus, its robo-advisor is entirely free — an industry rarity.

High mobile app ratings, responsive customer support and the absence of any major service outages make SoFi a well-rounded platform for new to intermediate traders. But SoFi isn’t without its drawbacks.

SoFi’s tradable security lineup is limited to stocks, ETFs and cryptocurrencies. And its charting tools aren’t quite comprehensive enough to cater to active traders who rely on technical analysis.

All in all, SoFi is a solid, excellently priced choice for those new to the stock market, though derivatives traders will need to explore options elsewhere.

• Best for investors looking for self-directed international trades.

• Look elsewhere if you want to trade commission-free stocks.

Zacks Trade distinguishes itself from competitors by offering access to stocks from 91 global exchanges. International investors are welcome to apply, and account options are plentiful. It offers four distinct trading platforms, including a feature- and research-rich desktop platform, Zacks Trade Pro and Handy Trader, a mobile app for Android and iOS.

A Zacks Trade account comes with 23 free research subscriptions through IBIS with the option to add up to 80 additional subscriptions for a fee. The platform offers many analytics tools, including 120 technical chart indicators and portfolio rebalancing by risk tolerance. Among the platform’s standout features are its free broker-assisted trades — a useful perk for those seeking professional support during the trading process.

But Zacks Trade falls short when it comes to account minimums and trading fees. Unlike many of its competitors, Zacks Trade still charges commissions on stocks. And its options fees are among the highest we’ve seen at $0.75 a contract. You also need at least $2,500 to open an account.

• Best for beginner traders.

• Look elsewhere if you’re an active trader seeking advanced charting tools.

Robinhood isn’t one of our most highly-rated brokers — multiple service outages cost it a few points — but we think it’s worth including because it’s one of the most beginner-friendly platforms on the market.

First-time investors looking for long-term stocks will find that Robinhood’s platform is intuitive, easy-to-learn and entirely commission-free. In fact, Robinhood trades have been zero-commission since its 2015 launch, putting pressure on numerous competitors to follow suit.

It loses points for service outages and limited research tools, but neither of these is likely to take much from the newbie investor trading experience. This makes Robinhood a solid platform for beginners and worthy of an honorable mention.

• Best for investors with large, established portfolios.

• Look elsewhere if you’re a day trader or small-dollar investor.

Vanguard also failed to nab one of the top spots, but we’re mentioning it here because the platform is a solid choice for investors with large, well-established portfolios of $50,000 or more.

Annual portfolio fees, commissions and mutual fund minimums of $1,000 to $3,000 make Vanguard somewhat prohibitive for small-dollar investors. It also isn’t particularly designed for high-volume trading. But Vanguard rewards big portfolios with perks that include personal adviser services, waived service fees, reduced commissions and access to financial specialists.

• Best for accessing international stocks.

• Look elsewhere if you’re new to trading and prefer beginner-friendly research tools.

Interactive Brokers didn’t earn enough points to be a best all-around broker, but it came close. It lost points for slow customer support and an unreliable mobile app, but its multiple trading platforms and comprehensive lineup of tradable securities make it a viable option for many types of traders — especially those seeking international stocks.

Interactive Brokers offers access to a whopping 135 markets. This figure blows Fidelity’s 25 markets and Charles Schwab’s 12 markets — two brokers known for their international accounts — straight out of the water. No broker comes close to Interactive Broker’s international market access, and most don’t offer access to foreign exchanges at all.

That said, Interactive Brokers is known for its complex fee structure and steep learning curve, so new investors may want to look elsewhere.