Wondering which brokerage platform is right for you? Your age can play a role.

Many brokerage firms have adapted their platforms and offerings to young investors. Gamified apps, crypto trading and features that resemble social media discussions have been integrated into some brokerage accounts. That type of setup may be great for people who dive deep into individual stocks, but retirees who want to live on passive income may benefit from a different experience.

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The ‘best’ brokerage depends on life stage, not just rankings

The best brokerage account depends on your preferences. Young investors may be more open to gamified accounts that offer risky assets such as crypto and options trading since they have more time to recover losses. But older investors are often more focused on preserving their capital. A simple dashboard and low trading costs may be sufficient.

It’s a good idea to read brokerage account reviews and compare some of the best options to get ideas. You can start with Money’s list of the best online stock trading platforms.

What retirees should prioritize in an online brokerage

Every retiree’s preferences will be different. Some may enjoy exploring the latest features on new trading apps.

But you don’t necessarily need all of the bells and whistles to have a great experience with your online brokerage account. Strong customer support, access to high-yield investments, security and low costs may address most of your needs.

The firm should also offer support for required minimum distributions, tax forms and cost-basis information. Automatic transfers should also be an option for people who want to passively invest a portion of each Social Security check or other form of income they receive.

Many brokerage firms also offer access to human financial advisors, while some opt for a hybrid approach that includes robo-advisors. Regardless of which account you choose, it’s important to monitor your statements to ensure no fraudulent activity. Staying on top of transactions can also help you monitor fees so you don’t pay too much for investing your capital.

Where People Are Investing Right Now

• Robinhood lets you trade stocks and ETFs 24 hours a day, 7 days a week
• CIT Bank: Earn up to 4.10% with a high-yield savings account
• American Hartford Gold: Explore different gold IRA options and protect your wealth

What works for younger investors can be risky for retirees

Newer trading platforms such as Robinhood often appeal to younger investors who are supplementing their long-term investment goals with short-term trading. Options trading, crypto and even prediction markets are available with that firm — and may not make sense for retirees who are looking to preserve their nest eggs. Those assets and features that align with high-risk preferences can tempt investors to chase high returns, overtrade and become more vulnerable to sharp market swings.

Retirees should pick a brokerage account that matches their goals, which often revolve around wealth preservation, account security and family finance. Investors should ask themselves if a platform will aid in helping them make calm decisions that align with their long-term goals or tempt them to deviate into riskier opportunities.

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• Warren Buffett on Market Volatility -- and 3 Ways You Can Take Advantage
• Experts are Bullish on Gold -- Here's How to Get In