The Best Platforms for Retail Investors in 2025

Introduction

Retail investing in 2025 feels nothing like it did even three years ago. Zero-commission trades are table stakes, fractional shares are everywhere, cash sweeps pay real interest again, and AI-assisted research is moving from “nice extra” to “core workflow.” At the same time, rules like T+1 settlement have made speed, reliability, and risk controls more important for everyday investors, not just pros. Investor.gov+1

So what are the best platforms for retail investors right now? The answer depends on your goals. Some brokers are elite for long-term index investors, others are built for active traders, and a few are pushing into AI-guided portfolio building. Below is a practical, 2025-grounded guide to the top platforms, how they differ, and which kind of investor each one serves best.

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What matters most in a 2025 retail platform

Before we rank anything, here are the traits that separate “good” from “actually great” in 2025:

1. Cost transparency
   Trading commissions are mostly $0, but spreads, options contract fees, margin rates, crypto markups, and FX fees can still hit you hard. The best platforms make costs obvious. NerdWallet+2Kiplinger+2
2. Breadth of investable assets
   Stocks/ETFs are basic. Strong platforms now add: low-cost mutual funds, bonds/treasuries, options, international markets, crypto, and sometimes alternatives. NerdWallet+1
3. Research + education that fits your level
   Beginners need clean UX and clear learn-paths; experienced investors need deep screeners, analyst reports, and advanced order types. NerdWallet+1
4. Mobile + desktop parity
   The old split (desktop for “real trading,” mobile for checking) is dying. The best brokers in 2025 offer full-power mobile experiences. Kiplinger
5. Automation and AI tooling
   Auto-invest, smart rebalancing, tax-aware harvest, and AI research copilots are becoming mainstream. Axios
6. Execution quality & reliability
   With T+1 settlement and more people trading during volatile windows, uptime and order quality matter. Investor.gov+1

Keep those in mind as you read the picks.

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Best all-around platform: Fidelity

If you want one app that can grow with you for a decade, Fidelity is still the king in 2025. Multiple major reviews put it at or near the top overall thanks to its mix of product depth, low fees, research, and strong retirement tooling. Forbes+3NerdWallet+3NerdWallet+3

Why it wins

• Everything in one place: stocks, ETFs, mutual funds, treasuries, CDs, options, international investing, IRAs/401(k) rollovers, etc. NerdWallet+1
• Serious research: screeners, portfolio analysis tools, and high-quality education. NerdWallet+1
• Beginner-friendly but not limiting: easy onboarding, practice tools, and advanced order routing when you need it. NerdWallet+1

Best for: beginners who want to become long-term investors, retirement builders, and “one-broker for life” people.

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Best for low-stress passive investing: Vanguard

Vanguard’s platform isn’t flashy, but it’s still the gold standard for people who want to buy broad funds, automate contributions, and forget about it. It remains a top pick for passive investors in 2025. NerdWallet

Why it works

• Industry-leading low expense ratios on ETFs and mutual funds.
• Simple, purpose-built environment that discourages over-trading.
• Solid retirement focus and long-term planning tools. NerdWallet

Trade-offs: UI and real-time trading tools lag behind newer brokers; not ideal for active trading.

Best for: index fund loyalists, FIRE folks, and anyone who wants discipline baked into the platform.

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Best for active + advanced traders: Interactive Brokers (IBKR)

Interactive Brokers keeps winning the “power user” category. Kiplinger’s 2025 ranking highlights IBKR for global access, tools, and trading flexibility. Kiplinger+1

Why traders love it

• Access to global markets at competitive FX rates. Kiplinger
• Advanced order types, options, and margin tools that most retail apps don’t offer.
• Pro-grade desktop + excellent mobile; IBKR has invested heavily here. Kiplinger

Trade-offs: steeper learning curve. Not the prettiest first app.

Best for: serious self-directed investors, options traders, international investors, and anyone optimizing execution.

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Best blend of tools + customer support: Charles Schwab

Schwab is retail investing’s “trustworthy giant.” It ranks high for tools, education, and service, including strong in-person branch support (still underrated in 2025). Forbes+3NerdWallet+3NerdWallet+3

Strengths

• Great education ecosystems and “learn while doing” experience. NerdWallet+1
• Strong research and portfolio planning.
• Good platform stability and customer service. Kiplinger

Best for: investors who want a big-bank feel without big-bank fees, and people who value human support.

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Best for seamless mobile investing: Robinhood

Robinhood is still the cleanest “start investing in 5 minutes” app for many people, and reviews continue to rank it highly for ease of use and low friction. The Motley Fool+4NerdWallet+4NerdWallet+4

What Robinhood does right

• Best-in-class UX for casual investing.
• Fractional shares, simple options flow, crypto, and IRAs in one fast app. Bankrate+1
• Cash management perks with Gold, plus frequent IRA match promos. Bankrate+1

Where to be careful
Robinhood is improving depth, but it still isn’t built for complex research or bond allocation compared to Fidelity/Schwab. Kiplinger

Best for: beginners who need a low-intimidation entry point and mobile-first investors.

Best for “learn + trade + community”: Public

Public has grown past its social-investing origins and is now pushing hard into AI-driven portfolio building. In November 2025, it launched an AI-powered brokerage that lets users create and manage custom indexes and get automated portfolio help. Axios+1

Why it’s a 2025 standout

• Community-driven investing without the meme-stock chaos.
• AI research + custom index creation aimed at long-term retail investors. Axios
• Cleaner “investing as a habit” vibe than pure trading apps.

Trade-offs: smaller research library than legacy giants; AI features are new and evolving.

Best for: younger investors who want structure, community, and modern AI tools built in.

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Best for aggressive mobile traders: Webull & moomoo

These two apps keep showing up in “best broker” lists for 2025 because they sit in a sweet spot between a clean app and serious charting. LevelFields+3NerdWallet+3Bankrate+3

Why people pick them

• Advanced charting + technical indicators on mobile.
• Extended hours trading and a trader-first UI.
• Low barriers to options and active strategies. NerdWallet+1

Trade-offs: research depth and retirement tools aren’t as mature as Fidelity/Schwab.

Best for: active traders who want mobile charts that don’t feel like toys.

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Best for automated “set a strategy and chill”: M1 Finance & Wealthfront

If you’re the type who wants to define rules, automate deposits, and let rebalancing handle the rest, M1 Finance is still a top pick. Wealthfront stays strong for robo-investing with tax-aware automation. NerdWallet+1

M1 strengths

• “Pie” portfolios make allocation super simple.
• Easy automated rebalancing.
• Great for long-term goal buckets. NerdWallet

Wealthfront strengths

• Robo portfolios with tax-loss harvesting and cash management. NerdWallet

Best for: busy professionals, automation lovers, and anyone trying to avoid emotional trading.

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Best broker for banking + investing together: SoFi Invest / J.P. Morgan Self-Directed / Merrill Edge

Some people want a “financial hub” more than a pure brokerage. In 2025, platforms integrated with banking ecosystems stay popular. NerdWallet highlights SoFi for advisor access and J.P. Morgan Self-Directed as a notable broker; Kiplinger notes Merrill Edge for bank-plus-broker value. NerdWallet+2NerdWallet+2

What you get

• Instant transfers between checking/savings and investing.
• One app for credit cards, loans, HYSA, and brokerage.
• Sometimes perks like deposit boosts or advisory discounts. NerdWallet+1

Trade-offs: investing tools may be simpler than top “pure” brokers.

Best for: investors who want convenience and an all-in-one financial dashboard.

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Best for crypto-plus-stocks in one app: GalaxyOne (new)

A notable fresh entrant in late 2025 is GalaxyOne, from Galaxy Digital. It offers commission-free stock/ETF trading, crypto trading, and a high-yield cash account, aiming at more “mature” retail investors who want institutional-style tools. Barron’s

Why it matters

• Shows continued convergence of traditional brokerages and crypto platforms.
• Adds another credible option for investors who want both asset classes together. Barron’s

Best for: investors comfortable holding stocks and crypto side-by-side and wanting a single home for both.

Final take

2025 isn’t about finding one universally best broker. It’s about matching a platform to your behavior:

• If you’re building wealth slowly and consistently, you want breadth, planning, and low-friction automation (Fidelity, Vanguard, M1, Wealthfront).
• If you’re actively trading or running advanced strategies, you want execution quality and tool depth (IBKR, Schwab, Webull, moomoo).
• If you care about modern workflows, you want mobile speed + AI or community layers (Robinhood, Public, GalaxyOne).

Pick the platform that makes your best investing habits easier and your worst habits harder. That’s the real edge.

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Sources (clickable)

1. NerdWallet – Best online brokers for 2025: Fidelity, Schwab, IBKR, Robinhood, Webull, Public, etc.
   https://www.nerdwallet.com/best/investing/online-brokers-for-stock-trading
2. NerdWallet – Best brokers for beginners (Nov 2025): Fidelity, Robinhood, Schwab, SoFi, Vanguard, M1, E*TRADE, Wealthfront.
   https://www.nerdwallet.com/investing/best/online-brokers-for-beginners
3. Kiplinger – Best online brokers and trading platforms for 2025: Fidelity #1, IBKR #2, Schwab strong, category winners.
   https://www.kiplinger.com/investing/wealth-management/online-brokers/605136/the-best-online-brokers-and-trading-platforms
4. Bankrate – Best online brokers of 2025 (Robinhood, Webull, others).
   https://www.bankrate.com/investing/best-online-brokers/
5. Forbes Advisor – Best online brokers 2025 overview.
   https://www.forbes.com/advisor/investing/best-online-brokers/
6. Axios – Public launches AI-powered brokerage (Nov 17, 2025).
   https://www.axios.com/2025/11/17/ai-stock-market-public
7. Barron’s – Galaxy Digital launches GalaxyOne retail investing app (Oct 2025).
   https://www.barrons.com/articles/galaxy-digital-stock-consumer-finance-app-robinhood-945db921
8. SEC Investor Bulletin – T+1 settlement cycle effective May 28, 2024.
   https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/new-t1-settlement-cycle-what-investors-need-know-investor-bulletin
9. FINRA – Understanding settlement cycles and T+1.
   https://www.finra.org/investors/insights/understanding-settlement-cycles