Last Updated: March 31, 2025
Choosing the right investment platform is crucial for building long-term wealth. The best platform for you depends on your investment goals, experience level, and the types of assets you want to invest in.
We've thoroughly researched and tested the top investment platforms to help you find the perfect match for your financial journey. Our recommendations are based on fees, available investment options, user experience, educational resources, and customer support.
Here's how our top picks stack up against each other:
| Platform | Best For | Account Minimum | Trading Fees | Rating | Action |
|---|---|---|---|---|---|
| eToro | Social Investing | $50 | 0% commission on stocks | View Details | |
| Robinhood | Beginners | $0 | 0% commission on stocks | View Details | |
| SoFi Invest | All-in-One Platform | $1 | 0% commission on stocks | View Details | |
| M1 Finance | Automated Investing | $100 | 0% commission on stocks | View Details | |
| Fidelity | Research Tools | $0 | 0% commission on stocks | View Details | |
| Vanguard | Long-Term Investors | $0 | 0% commission on stocks | View Details | |
| Webull | Active Traders | $0 | 0% commission on stocks | View Details |
eToro revolutionizes investing with its unique social trading platform that allows you to follow and automatically copy the trades of successful investors. It's perfect for beginners who want to learn by watching experts and for experienced investors looking to share strategies.
eToro stands out with its social investing approach, making it ideal for those who want to learn from others or lack the time for extensive market research. The platform's intuitive interface and ability to copy successful traders with just a few clicks makes it our top choice for social investing.
Robinhood pioneered commission-free trading and continues to offer one of the most straightforward, user-friendly platforms available. Its simple interface and educational resources make it perfect for first-time investors looking to enter the market with minimal complexity.
Robinhood excels at making investing accessible to everyone with its zero-barrier entry and intuitive mobile app. While it lacks some of the advanced features of traditional brokers, its simplicity is actually an advantage for beginners who might otherwise feel overwhelmed by complex platforms.
Selecting the best investment platform depends on your specific needs and goals. Here are the key factors to consider:
Beginners: Look for platforms with intuitive interfaces, educational resources, and low minimums (Robinhood, SoFi).
Intermediate: Consider platforms with more research tools and diverse investment options (eToro, M1 Finance).
Advanced: Prioritize platforms with advanced charting, research, and a wide range of investment products (Webull, Fidelity).
Long-term wealth building: Focus on platforms with retirement accounts and low-cost index funds (Vanguard, Fidelity).
Active trading: Choose platforms with robust trading tools and competitive fees (Webull, eToro).
Passive investing: Consider automated platforms that handle the details for you (M1 Finance, SoFi).
While many platforms offer commission-free stock trading, pay attention to:
Ensure the platform offers the assets you want to invest in:
Yes, reputable investment platforms are generally safe. All the platforms we recommend are registered with regulatory authorities like the SEC and FINRA, and most offer SIPC insurance that protects securities in your account up to $500,000 (including $250,000 for cash claims).
You can start investing with as little as $1 on platforms that offer fractional shares (Robinhood, SoFi, M1 Finance). Other platforms have minimum requirements ranging from $0 to $100 for standard accounts.
Robinhood and SoFi are excellent choices for complete beginners due to their intuitive interfaces, educational resources, and low barriers to entry. eToro is also great for beginners who want to learn by following experienced investors.
Yes, you can open accounts on multiple platforms. Some investors use different platforms for different purposes—for example, using Vanguard for retirement accounts and Robinhood for more active trading.
Investment platforms generate revenue through various methods even when offering commission-free trading, including:
After thorough testing and analysis, eToro stands out as our top overall pick due to its unique social investing features, comprehensive asset selection, and user-friendly interface. However, the best platform for you depends on your specific needs:
Remember that the most important step is simply to start investing—even small, regular contributions can grow significantly over time thanks to compound interest.