Your choice of investing platform is crucial as it serves as your gateway to the U.S. and global markets, shaping your investing experience in terms of accessibility, fees, and more. Whether you’re new to investing or a seasoned investor, selecting the right platform is a pivotal part of your journey. Having tested numerous platforms over the years, I have identified top options tailored to different investment styles and requirements.
We will delve into various aspects, including fees, available assets, user experience, and unique features, to assist you in finding a platform that aligns with your experience level and financial objectives. Whether you aim to build a retirement fund, engage in active trading, or venture into real estate investments, there is a platform suited to your needs. The top choices in each category are as follows:
– Best overall: Charles Schwab
– Best for beginners: SoFi
– Best for actively managed investing: Robinhood
– Best for daily micro-investing: Acorns
– Best for social investing: Public
– Best for retirement savings: Fidelity
– Best for automated investing: M1 Finance
– Best for social trading: eToro
– Best for real estate: CrowdStreet
Let’s now explore the features, fees, available assets, and drawbacks of each platform.
1. Best overall: Charles Schwab
Charles Schwab, founded in 1971 by Charles R. Schwab, stands out as a versatile brokerage offering a wide array of investment products and robust research tools. With services catering to both active and automated investing, Schwab’s brokerage platform is a trusted choice for many investors. While its $0 commissions for active investing and 0% advisory fees for automated investing are appealing, a minimum investment of $5,000 may pose a hurdle for beginners. Additionally, the platform’s advanced trading interface could be overwhelming for new investors.
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To learn more about how robo-advisors compare to human experts in managing investments, explore this guide.
2. Best for beginners: SoFi
SoFi’s platform provides a user-friendly environment for beginners venturing into investing. Offering $0 commissions for stocks and ETFs, SoFi caters to both active and automated investing styles. While its automated investing option incurs a reasonable 0.25% annual advisory fee, the availability of mutual funds varies by fund. With no minimum investment requirements for active investing, SoFi appeals to those looking to start investing without significant upfront costs.
Automated investing with SoFi Invest offers a range of benefits. With a minimum balance requirement of $50, you can trade U.S. stocks, ETFs, mutual funds, options, and IPOs with $0 commissions. SoFi provides a simple and user-friendly trading platform, making it a convenient one-stop-shop for various financial products such as banking, lending, credit cards, and insurance.
However, it’s important to note that SoFi does charge a 0.25% annual advisory fee for its services. While the platform lacks advanced research tools and offers fewer asset classes compared to full-service brokerages, its emphasis on accessibility and education has made it a popular choice for new investors and those seeking a hassle-free experience.
Founded in 2011 as a student loan refinancing company, SoFi has expanded into investment services, catering to over 8.8 million members with a focus on simplifying financial products and education. Whether you’re looking for active or automated investing, SoFi’s easy setup process and low minimum balance requirements make it a suitable option for beginners looking to enter the stock market.
In comparison, Robinhood is another noteworthy platform for actively managed investing. Offering $0 commissions on stocks and ETFs and a $50 minimum for actively managed portfolios, Robinhood provides access to U.S. stocks, ETFs, options, and cryptocurrencies. The platform also offers tax-smart investments and loss harvesting, along with advanced tools and premium research through Robinhood Legend.
Founded in 2013, Robinhood revolutionized the brokerage industry with its commission-free trading platform. The addition of Robinhood Strategies in 2025 further enhances its wealth management services by providing professional portfolio management tailored to individual financial goals. While Robinhood may have a limited asset selection compared to larger brokerages and is a newer player in the wealth management sector, its transparent approach to management and user-friendly interface make it an appealing choice for investors.
At Robinhood, you have control over your portfolio adjustments with market insights directly accessible on your dashboard. Toggle specific stocks on or off while benefiting from professional management. For active traders, Robinhood offers a commission-free platform, enhanced by the desktop-based Legend platform launched in 2024. Enjoy the flexibility of self-directed and managed options under one roof as your needs evolve.
Robinhood also offers IRA contribution matches — 1% for standard accounts and 3% for Gold members, allowing you to turn a $5,000 contribution into $5,150 with Gold. Maintain Gold membership for one year and keep your IRA with Robinhood for five years to retain this bonus.
In Fall 2025, Robinhood will introduce new banking services with high-yield savings, international transfers, and up to $2.5 million in FDIC insurance. Gold members will access exclusive private banking perks including estate planning, professional tax advice, and on-demand cash delivery service. While these new features broaden Robinhood’s appeal, the platform still lacks certain asset classes like mutual funds and international stocks and lacks a proven track record in active investment management.
Acorns, launched in 2014, simplifies investing and reduces barriers to market entry. The platform’s “round-up” feature automatically invests spare change, and its Earn program offers cash back rewards from partner brands like Nike and Apple. Acorns manages over $7 billion in assets for 10 million users, focusing on accessibility and simplicity in investing.
Acorns’ subscription ranges from $3 to $12 monthly, covering all investment services with no additional fees. However, accounts with small balances may pay a higher fee percentage compared to larger accounts. Acorns is ideal for new and hands-off investors but may not satisfy those looking for individual stock selection.
For more advanced investment options, consider Acorns, which offers pre-built portfolios of ETFs managed by experts.
Another great option is Public, a community-driven investing platform. With $0 commissions on stock, ETF, and options trades, Public allows you to follow other investors, share insights, and learn together. They offer fractional share investing with a $1 minimum, as well as a high-yield cash account with competitive rates. However, there are limitations such as no mutual funds and basic research tools unless you upgrade to Premium ($8 a month).
If you’re looking for retirement savings options, Fidelity is a top choice. With $0 commissions for stocks and ETFs, as well as $0 advisory fees for automated investing balances under $25,000, Fidelity provides extensive retirement planning tools. Keep in mind that there is a 0.35% annual advisory fee for automated investing balances of $25,000+. Fidelity, established in 1946, is one of the largest investment management companies globally.
Fidelity is a popular choice for long-term investors due to its diverse selection of low-cost mutual funds, managing over $14 trillion for 51 million investors. The firm’s reliable reputation and comprehensive retirement planning tools have made me a loyal customer for my IRA. Offering traditional and Roth IRAs, 401(k)s, and $0-fee mutual funds, Fidelity simplifies retirement portfolio management. Additionally, its Fidelity Go robo-advisor provides automated investing, though it charges a 0.35% annual advisory fee for balances over $25,000.
For those seeking automated investing, M1 Finance is a top choice. With $0 commissions and no advisory fees, M1 Finance’s hybrid investing model allows for personalized portfolios using its unique “pies” feature. This platform, managing over $5 billion in assets, offers U.S. stocks and ETFs with easy customization and automatic portfolio rebalancing, making it a great option for investors looking for some control without extensive market research.
eToro stands out as the best choice for social trading, with $0 commissions on stocks and ETFs. While it does not offer mutual funds, eToro’s social trading platform allows users to interact and follow other traders’ strategies, fostering a collaborative investing environment.
Automated Investing: This service offers 0% annual advisory fees and supports only cryptocurrencies. The account minimum for active investing is $1, while for automated investing it is $500. Available assets include U.S. stocks, ETFs, cryptocurrencies, and options. Pros include $0 commissions on stocks and ETFs, a $1 minimum balance requirement for active investing, and unique social and copy trading features. The platform also offers a virtual trading account for practice. Cons include a limited selection of assets and fewer advanced research tools compared to competitors. To sign up, visit eToro.
Founded in 2007, eToro aimed to simplify investing for a wider audience. The platform’s social trading feature was well-received, attracting over 1 million users by 2010. Today, eToro serves more than 33 million people in over 140 countries. The CopyTrader feature allows users to automatically copy trades of successful investors. The platform offers a user-friendly interface and provides support through the eToro Academy. Every eToro account includes a demo trading account with $100,000 in virtual funds for practice. However, the platform’s limited asset selection and advanced research tools may be drawbacks compared to full-service brokers.
Best for real estate: CrowdStreet is a real estate investment platform established in 2014 for accredited investors. There are no platform fees, but investing fees vary. The account minimum is $25,000, and available assets include residential and commercial buildings, as well as real estate funds. Pros include centralized access to real estate investments and detailed information on each opportunity and sponsor. Cons include the $25,000 minimum investment requirement, limited access for non-accredited investors, and illiquid investments with long hold periods. To sign up, visit CrowdStreet.
Tailored information on each investment opportunity, including financial projections, market analysis, and details on each sponsor’s track record is provided on CrowdStreet. This platform allows accredited investors to access everything they need in one place, streamlining the real estate investment process. However, the accredited investor requirement and technical information may make the platform less accessible for new investors. Additionally, investments through CrowdStreet are typically illiquid for periods ranging from three to 10 years.
Sign up at CrowdStreet for more information on investment opportunities.
How to Choose the Right Investment Platform for You
Selecting the best investment platform from the numerous options available in the market can be daunting. However, you can simplify your decision by asking yourself the following questions:
1. Are you new to investing? If you are a novice investor, consider opting for a robo-advisor or a platform with a user-friendly interface to avoid feeling overwhelmed with information.
2. What is your investment goal? For those aiming to build long-term wealth, set-it-and-forget-it investment options like robo-advisors, mutual funds, and ETFs may be preferable. If your goal is short-term investments to take advantage of daily price fluctuations, choose a platform that supports active investing and provides the necessary information and research tools.
3. What types of assets do you want to invest in? While most platforms offer access to stocks and ETFs, not all support investments in bonds, mutual funds, and other assets. Ensure that your chosen platform provides the investment options you desire.
4. What type of account do you want to open? Verify that the platform you select offers the account type you need, whether it be a taxable brokerage account or a tax-advantaged individual retirement account (IRA).
Investment Assets Overview:
Stocks: Ownership shares in a company that enable you to participate in its success.
Exchange-Traded Funds (ETFs): Asset baskets containing various stocks, bonds, etc., traded on stock exchanges for easy investment.
Bonds: Assets issued by governments or companies to borrow money from investors, typically offering regular interest payments.
Mutual Funds: Diversified baskets of stocks, bonds, and other assets traded once a day after market close, similar to ETFs.
Other assets like options, IPOs, futures, crypto, forex, and real estate cater to experienced investors due to their complexity and volatility.
Options: Contracts granting the right to trade an asset at an agreed price within a specific timeframe, riskier than stocks and ETFs.
Initial Public Offerings (IPOs): Stocks issued by a company transitioning from private to public, often a significant event.
Futures: Contracts for buying or selling specific assets at a predetermined price on a future date, with higher risk due to speculative nature.
Cryptocurrencies: Digital currencies like bitcoin introduced in 2009, appealing to experienced investors for their unique characteristics.
Ethereum enables payments and money transfers beyond traditional banking networks. Cryptocurrencies pose risks due to their unregulated market compared to stocks and other established markets.
Foreign exchange (Forex) is the global market for trading conventional currencies like the U.S. dollar and British pound, known for high liquidity and daily price fluctuations.
Real estate involves residential or commercial properties generating income through rent and potential value appreciation, but they are typically illiquid and require substantial investment.
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Starting to invest doesn’t require much, with platforms like Charles Schwab, SoFi, and Fidelity allowing investments from as low as $1 and providing robo-advisors for automated portfolio management.
You can have multiple investment accounts across different platforms, each serving specific purposes, although managing them may complicate your financial overview.
Tax reporting on investments is facilitated by your platform, providing 1099 forms detailing profits and losses for the tax year. Tax software can help upload these forms and connect to your accounts for seamless tax return preparation.
We rank investment platforms based on fees, preferring those with $0 trading commissions and low advisory fees, offering a diverse range of investment options and user-friendly experiences tailored to different knowledge levels.
Platform Features: We assess each investment platform’s attributes, such as research tools, portfolio management, and educational resources, aiding you in selecting the most suitable platform for your requirements.
Personal Insight: Leveraging my professional background as a Certified Educator in Personal Finance (CEPF) and practical encounters with diverse investment platforms, I offer genuine insights founded on industry expertise and hands-on experimentation.
About the Author: With over ten years of financial and investment experience, Yahia Barakah is a personal finance writer at AOL. As a CEPF professional, he merges economic proficiency with a commitment to enhancing financial literacy, clarifying intricate retirement, banking, and credit matters. Passionate about empowering individuals to make informed financial choices for their overall well-being, Yahia’s financial acumen has been showcased on FinanceBuzz, FX Empire, and EarnForex. Residing in Florida, he harmonizes his financial interests with pursuits in freediving, hiking, and underwater photography. Article proofread by Kelly Suzan Waggoner.
