11 Best Online Brokers For Stock Trading

11 Best Online Brokers For Stock Trading _ The investing information provided on this page is for educational purposes only. Toshimamedia does not support advisory or brokerage services of any kind.

When it comes to Brokers for Stock Trading, there are a few factors that stand out as the pillars or yardstick to knowing the best among them; such as the cost of their fees (high or low), trading platform (strong or weak) and tools and the quality of customer support.

So, we would love to ask you to spare some of your precious time to learn about these 11 Best Online Brokers For Stock Trading so far. We assure you that our evaluations are honest and made in your best interest.

Our extensive assessment method examines and ranks the largest brokers in the United States by assets under management, as well as new industry competitors. Our goal is to give an objective evaluation of services so that you can make solid, educated decisions about which ones will best fit your needs. We follow stringent editorial integrity requirements.

11 Best Online Brokers For Stock Trading

Do you want to trade stocks? You’ll need an online broker, and that broker should have a fair investment minimum, high-quality trading tools, responsive customer support, and no hidden account fees. Based on these criteria, the brokerage companies listed below won a spot on our list of the top online brokers for stock trading.

We assessed brokerage businesses and investment firms based on the services that are most important to different sorts of investors. For example, we’ve identified online brokers with minimal or no commissions and excellent mobile trading interfaces for active traders. We’ve included the finest online brokers for instructional tools (including webinars, video tutorials, and in-person seminars) and on-call chat or phone assistance for those making their first investment.

Continue reading to see our top selections for the finest online brokers.

  1. Merrill Edge
  2. Fidelity
  3. TD Ameritrade
  4. E*TRADE
  5. Interactive Brokers IBKR Lite
  6. Ally Invest
  7. Webull
  8. TradeStation
  9. Zacks Trade
  10. Firstrade
  11. Charles Schwab

An In-depth Review Of 5 Out Of The 11 Best Online Brokers For Stock Trading

Hers’s our review on 5 of the rest of the 11 best online brokers for stock trading so far.

Merrill Edge Investment Review Pros and Cons

Integration with Bank of America: Merrill Edge is a result of Bank of America’s acquisition of Merrill Lynch, and it’s evident that the parent business has worked hard to provide a unified experience for clients who utilize both services. With a single login, you can access both Bank of America and Merrill Edge accounts, and real-time transfers transfer money between accounts instantaneously.

Merrill Edge stands out for its rich research and free trades, and Bank of America clients will enjoy the careful account integration.

Integration with Bank of America: Merrill Edge is a result of Bank of America’s acquisition of Merrill Lynch, and it’s evident that the parent business has worked hard to provide a unified experience for clients who utilize both services. With a single login, you can access both Bank of America and Merrill Edge accounts, and real-time transfers transfer money between accounts instantaneously.

Merrill Edge stands out for its rich research and free trades, and Bank of America clients will enjoy the careful account integration.

Pros and Cons

Pros

  • Third-party research is strong.
  • Bank of America has been integrated.

Cons

  • Advanced traders may discover that there are fewer equities available.
Customer support options: 4.5 out of 5 stars

Merrill Edge excels at customer service, offering phone, chat, and email help 24 hours a day, seven days a week. Appointments are offered at Bank of America locations during normal business hours for people who require in-person customer service.

Is Merrill Edge right for you?

Regardless of your financial experience, there’s a strong chance this broker provides a lot of what you’re looking for: high-quality research, a solid investment selection, helpful customer support, and a unique user experience. When it comes to internet brokers, the organization is among the best in the business.

Mobile app: 5 out of 5 stars

Merrill Edge’s mobile app has a good rating among iOS users but a poor rating among Android users. The app integrates with a Bank of America account to provide clients with a comprehensive snapshot of their financial position in a single app.

Where Merrill Edge falls short

Investment selection: Advanced traders may find fewer securities on offer.

Fractional shares: Fractional shares let investors buy by the dollar amount, rather than the share amount. This makes it much easier — and more affordable — to diversify, but Merrill Edge doesn’t offer this ability.

Fidelity Investment Review Pros and Cons

Fidelity is one of the most comprehensive brokerage firms accessible today, with no fees on stock, ETF, or options trading and a range of no-expense-ratio index funds.

They provide zero trading costs, a variety of over 3,700 no-transaction-fee mutual funds, and cutting-edge research and trading tools. Its zero-fee index funds and stellar customer service are just the frostings on the cake.

Pros and Cons

Pros

  • Trade stocks, ETFs, and options without paying a commission.
  • A large number of research providers are available.
  • Excellent client service.
  • Index funds with no fees.
  • Mobile app with a high rating.

Cons

  • Broker-assisted trading cost is rather hefty.

Fidelity Investments provides a well-rounded product, with no trading commissions, no account fees that might reduce returns, a wide range of research options, and an easy-to-use interface that can also be modified for more sophisticated traders.

Mutual funds: Fidelity has a solid reputation for its mutual funds, with a big variety of no-transaction-fee funds, including its Fidelity Zero index funds, which have no cost ratio and no minimum investment requirement. Customers benefit greatly from these investor-friendly procedures.

Instructional materials for all levels of investor: Fidelity’s educational tools and research options are among the best among the brokers we reviewed, including resources for both starting retirement investors and active stock traders.

Where Fidelity Falls Short

Tradable securities: While it provides fractional shares and options trading, the lack of futures or currency trading options earns it just a 3-star rating in this category.

Broker-assisted trading fees: At $32.95, Fidelity’s broker-assisted trade cost is more than we want.

Tradable securities available: 3 out of 5 stars

Investors may use Fidelity to trade stocks, bonds, mutual funds, ETFs, and options. The firm also allows traders to buy fractional shares, which allows investors to diversify into higher-cost equities by buying a portion of a share rather than the entire amount.

The firm does not provide futures, FX, or cryptocurrency trading. While the absence of these qualities would not deter most retirement investors, these are elements that aggressive stock traders would like to have in their investment toolbox.

Crypto availability: 2 out of 5 stars

Fidelity does not provide cryptocurrency access. Investors, on the other hand, can look into crypto-related items that trade over the counter.

Trading platform: 5 out of 5 stars

Our star rating here is based on how iOS and Android users score the broker’s mobile apps. Fidelity’s highly rated apps include real-time quotes, multi-leg options trading, a consolidated version of the company’s research offerings, and a notebook where you can save ideas and articles from your mobile browser.

Mobile app: 5 out of 5 stars

Our star rating is based on how the broker’s mobile applications are rated by iOS and Android users. Real-time quotations, multi-leg options trading, a condensed version of the company’s research products, and a notepad where you may store thoughts and articles from your mobile device are among the features of Fidelity’s highly rated applications.

Customer support options: 4.5 out of 5 stars

Fidelity gets high scores for its instructional resources and customer service choices, which include a network of over 200 branches for in-person guidance and educational opportunities, as well as 24/7 phone, chat, and email support. Fidelity’s Online Learning Center has been revamped to provide a more personalized experience, with machine learning used to surface instructional content that corresponds to the customer’s investment habits.

TD Ameritrade Investment Review Pros and Cons

With its $0 minimum, free tools and research, and several trading platforms tailored at both novice and expert traders, TD Ameritrade is difficult to match.

With sophisticated trading tools, no fees on online stock and ETF trades, and a big variety of mutual funds, TD Ameritrade caters to both aggressive traders and novice investors.

Pros and Cons

Pros

  • Trade stocks and ETFs without paying a commission.
  • Unbiased research.
  • Trading platforms of exceptional quality.
  • There is no account minimum.
  • Excellent client service.
  • A wide range of investment options is available.

Cons

  • There are no fractional shares.

Free research

TD Ameritrade provides free third-party research from respected sources such as the Federal Reserve Economic Database, the Center for Financial Research and Analysis, and Morningstar.

Trading Platform

High-quality trading platforms: In addition to the TD Ameritrade online and mobile platforms, the thinkorswim platform provides professional-level trading on desktop and mobile.

Customer Service

TDAmeritrade’s customer service is hard to top, with 24/7 help through phone, text, fax, live chat, email, or social media, as well as in-person meetings at more than 250 branches.

TD Ameritrade offers a wide range of investing options, from low-cost mutual funds to complex products like futures and currency trading.

Where TD Ameritrade Falls Short

Fractional shares were originally a niche service, but large firms such as Fidelity and Schwab now provide fractional trading. However, TD Ameritrade is still not, so investors with low funds may want to search elsewhere. Fractional shares enable you to invest by the dollar amount rather than by the share, allowing you to develop a portfolio of equities that would otherwise be prohibitively expensive.

Account minimum: 5 out of 5 stars

TD Ameritrade does not have an account minimum.

Number of no-transaction-fee mutual funds: 4 out of 5 stars

Though the 3,700 no-transaction-fee mutual funds selection isn’t as extensive as at some other brokers, you’ll still find plenty of options in this area.

TD Ameritrade also specializes in providing low-cost and low-minimum funds, with over 500 mutual funds on its platform having expense ratios of 0.50 percent or less and over 1,000 having investment minimums of $100 or less. It’s an excellent broker for first-time mutual fund investors.

Tradable securities: 5 out of 5 stars

TD Ameritrade dominates the investment selection area by providing a wide choice of investments for qualified clients, including futures, FX, and bitcoin futures trading.

Crypto availability: 2 out of 5 stars

TD Ameritrade does not provide direct access to cryptocurrencies; nevertheless, crypto-based products such as Grayscale Bitcoin Trust are accessible on the over-the-counter market through TD Ameritrade. Bitcoin futures may also be traded on the Chicago Mercantile Exchange by qualified TD Ameritrade clients (CME).

Trading platform: 5 out of 5 stars

TD Ameritrade has two major trading platforms, each having a mobile version.

TDAmeritrade.com is the on-ramp platform that provides nearly everything a typical investor needs to locate, study, screen, and trade stocks, ETFs, bonds, and CDs. The following features are built into the free platform:

  • Screeners.
  • A landing page that is editable.
  • GainsKeeper, a tool provided by the broker, is used to track capital gains and losses for tax purposes.

Customer support options: 4.5 out of 5 stars

The customer service at TD Ameritrade is unrivalled. Virtually every medium (from texting to social media) provides support 24 hours a day, seven days a week, and if you prefer to speak with someone in person, there are more than 250 branches nationwide.

E*TRADE Investment Review Pros and Cons

Even without its $0 commissions, E*TRADE outperforms the competition with excellent educational materials, portfolio-building tools, and a huge mutual fund selection.

E*TRADE has long been regarded as one of the most popular online brokerage firms. Active traders will appreciate the company’s zero-commission trading platforms and robust trading platforms, while new investors will profit from a wide library of instructional resources.

Pros and Cons

Pros

  • Simple-to-use tools.
  • A wide range of investment options is available.
  • Excellent client service.
  • Access to in-depth research.
  • A sophisticated smartphone app.
  • Trade stocks, options, and ETFs without paying a commission.

Cons

  • The website might be difficult to use.

E*TRADE _ There’s something for everyone: ETRADE features a platform and a mobile app for everyone, whether you are a novice or a seasoned trader. The ETRADE Web interface and mobile app include real-time quotations and market commentary, stock and ETF screeners, and extensive account management.

More active traders may turn to the Power E*TRADE platform and app to access technical analyses, drawing tools, customisable options chain views, trading ladders and other capabilities for complicated strategies.

E*TRADE provides a diverse selection of investment alternatives, including stocks, bonds, ETFs, and over 4,300 no-transaction-fee mutual funds, as well as futures and complex options methods.

Educational resources and assistance: E*TRADE provides some of the greatest educational materials and support alternatives available. You may view webinars on topics such as diversification and technical analysis, as well as more sophisticated ones such as options trading. Morningstar offers online investing classes on a variety of topics, as well as a thematic investing component that explains how to invest in firms that share your beliefs.

Where ETRADE Falls Short Transparency of the website: Our testers checked ETRADE’s website and were unable to locate the company’s needed account minimum or instructions on how to terminate any account, both of which should be clearly accessible.

E*TRADE is the best option for:

  • Traders who trade often
  • Inexperienced investors.
  • Data and research
  • Assistance in retirement planning.

Minimum account rating: 5 out of 5 stars

The account minimum at E*TRADE is $0. This is common among brokers these days; the great majority of the brokers we examine do not need a minimum deposit to start or maintain an account. Keep in mind that some investments, such as mutual funds, may have a minimum initial investment requirement.

Stock trading costs: 5 out of 5 stars

E*Trading reduced its once-high $6.95 trade cost to $0 for online stock, options, and ETF trades in 2019. Many other brokers followed suit, and free commissions are now the norm in the market. You will still have to pay a charge to trade some instruments, such as futures, as well as a per-contract cost for options trading (see below).

Account fees: 4 out of 5 stars

ETRADE does not impose a yearly or inactivity fee. A full transfer out the cost of $75 is charged; a partial transfer fee of $25 is charged. Most brokers charge a fee to transfer securities out of your account; this price is sometimes larger if you transfer out your whole amount and cancel the account. If your account balance is greater than $5,000, ETRADE will forgo the half transfer cost.

Number of no-transaction-fee mutual funds: 5 out of 5 stars

ETRADE provides over 4,300 mutual funds with no transaction fees. Mutual funds that are not included on the no-fee list will pay $19.99 for each transaction. Analysts at ETRADE frequently update the All-Star Funds Report, a list of featured mutual funds that includes the best no-load funds and ETFs available.

Tradable securities: 4 out of 5 stars

Investors may use E*TRADE to trade stocks, bonds, mutual funds, ETFs, options, and futures. The firm does not provide FX trading, cryptocurrencies, or the ability for investors to exchange fractional shares of stock. Fractional shares are becoming increasingly popular in the business; they allow investors to buy stock based on a dollar amount rather than the price of a complete share. This may be especially beneficial for individuals who have limited funds but wish to develop a well-diversified portfolio.

Customer support options: 4 out of 5 stars

Customer service is available 24 hours a day, seven days a week through phone, email, and live chat.

With 30 locations manned by financial experts, E*TRADE also provides excellent in-person client care.

Crypto availability: 2 out of 5 stars

While E*TRADE investors cannot directly purchase or trade cryptocurrencies, they can have access to crypto-related products such as Bitcoin futures and cryptocurrency unit trusts.

Trading platform: 5 out of 5 stars

ETRADE offers two trading platforms: Power ETRADE and E*TRADE Web. Both are free and open to all clients, with no trading activity or balance requirements.

E*TRADE Web provides free streaming market data, real-time quotations, live market commentary, analyst research stock screeners, and other services. You may follow your accounts, establish watch lists, examine market data, and execute trades, including complicated options strategies, from the dashboard.

Power E*TRADE, the outcome of the company’s acquisition of OptionsHouse a few years ago, is another option for extremely aggressive traders. Real-time data, over 100 technical studies, over 30 drawing tools, simplified trade tickets, customisable options chain views, and trading ladders are all available on the online platform.

Interactive Broker Investment Review Pros and Cons

With low per-share pricing, an advanced trading platform, a large selection of tradable securities — including foreign stocks — and ridiculously low margin rates, Interactive Brokers attracts active traders. IBKR Lite, its latest product, allows for commission-free transactions of stocks and ETFs.

Interactive Brokers’ excellent execution, powerful trading platforms, and rock-bottom pricing will benefit both active and casual traders.

Pros and Cons

Pros

  • A wide range of investment options is available.
  • Excellent research and tools.
  • Over 17,000 mutual funds with no transaction fees.

Cons

  • The website is tough to use.

Interactive Broker _ IBKR Lite: Interactive Brokers has long been a prominent broker for expert traders, but in 2019, the business introduced IBKR Lite, the second tier of service for more casual clients. IBKR Lite provides you with unlimited free trading of stocks and exchange-traded funds listed on US exchanges.

Investment selection: If you want to trade additional assets, such as options, futures, mutual funds, fixed income, and more, you may do so with a Lite account on 135 exchanges in 33 countries, but the trading expenses will be the same as what IBKR Pro users pay.

IBKR Pro is a platform designed for advanced traders, as the name suggests. If this is you, you’ll like the broker’s per-share price of $0.005 (the minimum is $1), advanced trading platform, unrivalled selection of tradable assets — including international equities — and insanely low margin rates.

Both service tiers have a $0 account requirement and provide fractional shares of stock. There are no account maintenance or inactivity fees with IBKR Lite or IBKR Pro.

Website usability: Interactive Brokers’ website has a wealth of information, but locating and digesting that information isn’t always simple. The varied commission and charge systems for IBKR Pro clients might make it difficult to immediately determine what your expenditures will be. Parts of the website are dedicated to institutional, broker, and proprietary trading accounts, which might be perplexing.

Interactive Brokers is the best option for:

  • Traders of all levels are welcome.
  • Traders of the day.
  • Accounts for margins.
  • Trading in options.
  • Data and research
  • International financiers.

Minimum account rating: 5 out of 5 stars

You may start an account with Interactive Brokers with no minimum deposit.

5 out of 5 stars for stock trading expenses

If you’re a casual investor, it’s difficult to surpass IBKR Lite’s free transactions. Even expert traders who choose IBKR Pro will appreciate Interactive Brokers’ cheap stock and ETF commission structure, which benefits regular, high-volume traders at only $0.005 per share. There is a $1 minimum trade commission and a maximum of 1% of the entire deal value, plus exchange and regulatory costs.

The broker also provides tiered pricing to further reduce prices. Investors who trade up to 300,000 shares per month can pay $0.0035 per share; for clients who trade more than 100 million shares per month, tiered prices as low as $0.0005 per share are available. Exchange and regulatory costs are not included in this plan.

Options Trade 4 out of 5 ratings

Options trading is available at competitive prices for both Pro and Lite clients, with a $.65 fee per contract and no base, plus volume discounts. The options trading commission is set at $1 per order.

Account fees: 5 out of 5 stars

Interactive Brokers does not charge any annual, account, transfer, or closure fees, which is unusual among the brokers we assess.

Number of no-transaction-fee mutual funds: 5 out of 5 stars

The broker’s large list of no-transaction-fee mutual funds — over 17,000 in total, far exceeding the great majority of the broker’s competitors — will please retirement investors.

Tradable securities available: 5 out of 5 stars

Advanced traders will appreciate Interactive Brokers’ wide range of products, which includes everything from stocks, options, and ETFs to precious metals, currencies, warrants, and futures.

Interactive Brokers also allow you to buy fractional shares. The option to buy a portion of a company’s stock rather than a complete share makes it simpler to invest in firms with high share prices. As a result, it is simpler to maintain a diverse portfolio, particularly for individuals with smaller balances.

Crypto availability: 5 out of 5 stars

In 2021, Interactive Brokers launched cryptocurrency trading, allowing customers access to bitcoin, Ethereum, litecoin, and bitcoin cash. While the business does not provide commission-free trading like some brokers, the costs are rather low, ranging from 0.12 percent to 0.18 percent based on monthly volume. In addition, there is a $1.75 minimum for each order.

Mobile app: 3 out of 5 stars

The IBKR mobile app is a Trader Workstation on the move, with advanced trading shortcuts, over 400 data columns, option exercise and spread templates, news, research, charting, and scanners available to both Lite and Pro subscribers. Order presets may be created by users, which prefill order tickets for quick entry. Presets created in Trader Workstation are also accessible via the mobile app. However, both Android and iOS users give the app mediocre reviews.

Research and data: 5 out of 5 stars

IBKR GlobalTrader, a new program from Interactive Brokers, was released in March 2022. It is geared at worldwide investors and allows them to trade equities on over 80 exchanges in North America, Asia, and Europe. IBKR GlobalTrader is also accessible for users of Android and iOS.

Customer support: 4 out of 5 stars

Six days a week, Interactive Brokers provides phone, email, and chat assistance 24 hours a day, seven days a week. However, because there are no physical branches, you will be unable to organize an in-person meeting if that is your desire.

While many brokerages are only available to investors in the United States, Interactive Brokers is available to investors in 218 countries and territories worldwide. As previously stated, Interactive Brokers allows clients to invest on 135 exchanges in 33 countries and fund and trade accounts in 23 currencies.

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