Financial trading platforms are platforms (electronic or traditional) that are important for trading various financial products such as bonds, stocks, shares, commodities, government securities, currencies, and so on with or without intermediaries such as investment banks or market brokers.
Most of these platforms are convenient for use as they allow electronic trading which requires little or no financial intermediaries. While traditional trading is not as convenient, it isn’t addictive, and you have a personal relationship with your broker, and as such, you get help on investment strategies to make.
On ReviewsBird.com, you have access to reviews of trading platforms if you’re torn between what forms of platform you should use. To the eagerly awaited part, here are five best trading platforms in the United States you could consider:
1. Fidelity Investments
Fidelity investments are large brokers in the United States. Its impact as a major online trading platform earned this platform top spots in the Best Online Brokers Awards in 2019 and 2020. This platform is well known for cutting the cost of investing, making it more cost-effective for investors. This firm offers investment advice, life insurance, wealth management, among others. It also makes extensive research onExchange-Traded Funds, bonds which help investors make better choices. Fidelity investments are solely for US individuals. It is also easy to earn interest as cash that is not invested is put into a money market fund.
TD Ameritrade is a good choice for trading, especially for beginners and people that prefer online trading. Even with no prior investing experience, you can trade with this firm. They teach basic concepts in investing and investment strategies without you even having to pay for it!. This platform is accessible on mobile, making it easy to quickly access the market, news, account details, and balances.
3. Charles Schwab
This investment firm offers services to people who want selfonline trading or those who require a financial intermediary’s services. This platform is best for Exchange-Traded Funds (ETF) and also makes use of StreetSmart Edge screener. Charles Schwab, the owner of this trading platform named after himself; recently acquired TD Ameritrade in October 2020. However, both Charles Schwab and TD Ameritrade exist as separate trading firms.
4. Interactive Brokers
Interactive Brokers is a trading platform well known for its wide pool of tools and assets. It allows you to trade a wide range of financial products and is best suited for experienced traders. Unlike other US trading platforms, Interactive Brokers connects you to clients in other countries enabling international trade. It also allows you to have a minimum of $0 on your account
Tastyworks are well known for having the lowest costs for commissions and free closing trades. Since most trades placed on this platform are derivatives, there are many tools for analyzing derivatives on this platform. As a newcomer to this firm, it can be overwhelming and uncomfortable, especially when you have little previous investment knowledge.
These are the five best financial trading platforms in the United States in no particular order. They differ in their services, so it’s up to you to choose based on your needs and convenience.