With so many online brokers out there, finding the right one can feel overwhelming—whether you’re just getting started or already deep in the markets. Fidelity is a name synonymous with investing, even for those new to the market. Founded in 1946, it brings decades of expertise and a reputation for reliability. Fidelity also stands out by offering physical branches, allowing investors to meet face to face with advisors — an invaluable feature for those who prefer in-person support. Vanguard is one of the leading options for hands-off, low-cost index investing. Vanguard offers some of the lowest cost index ETFs, plus it packs in a well-rounded feature set that is a fit for more experienced investors as well.
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You can read our full guide on how to open a brokerage account or use our US stock broker comparison tables to find your perfect broker. Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. You can think of an online stock broker as a direct line to stock exchanges. In exchange for a tiny commission on every trade, the broker sends your orders on to stock exchanges and market makers.
Variety of Investment Options
The biggest benefit is that you get to draw on their years of experience, which can be beneficial for newer investors. Take your time, do your research, and pick a broker that aligns with your investment goals and preferences. Don’t be afraid to switch brokers if you find a better fit down the road. If you’re interested in trading currencies, you’ll need a broker that specializes in forex. It’s worth noting that Interactive Brokers is considered one of the best for international trading. Roth IRAs can be a powerful tool for retirement savings, especially for younger investors who have many years of potential tax-free growth ahead of them.
The IBKR GlobalTrader and IMPACT mobile platforms offer a straightforward investing experience for beginners, while advanced traders benefit from the powerful tools in IBKR and Trader Workstation. Fidelity is one of the largest and one of the most well-rounded brokerages available in the U.S. today. Importantly, Fidelity offers $0 commissions for online stock and ETF trades, plus a high-quality mobile app, making it one of the best brokerage accounts for beginners and seasoned investors alike. We currently rate Interactive Brokers as the best stockbroker in America based on our pricing, market access, margin best stock brokers and customer reviews matrix.
With an online broker, you’ll sign up for an account and choose the investment options you want. You can pick from things like stocks, ETFs and options trades, and you’ll track and manage the portfolio yourself. Finding an online broker with excellent customer service is a must—the best brokerage accounts provide 24/7 phone support and online chat options. Accessible customer support ensures you’ll get your questions answered in a timely manner and can prevent a lot of frustration down the road. Most online brokers will let you open an account for free since they only make money once you start trading.
What to consider when choosing an online broker
We’ve picked the 10 best companies for you to consider, along with the criteria you should be looking at. Fidelity has long been an industry leader when it comes to lowering fees, and its transparent and compelling fee schedule is the reason why—for the fourth year running—it wins for low costs. It’s a strong choice if you want a brokerage that can handle almost any investment need you might have.
Best for advanced mobile trading: Webull
- While active traders might want more customizable charting, Fidelity is ideal for goal-based, long-term investing.
- Legacy brokerages, like Fidelity and Schwab, will have the most account types available.
- So, you might find that there’s more of a learning curve when getting started with IBKR than with the other brokers on our list.
- There are tons of investment assets to choose from, and the broker offers low margin rates.
There’s also a blog with market research and insights, as well as a resource library to help you sharpen your trading skills. EToro calls itself the “world’s first social investing platform,” and we appreciate its features that let you interact with and benefit from other traders’ knowledge. IBKR is best for advanced traders who will benefit from complex tools and sophisticated portfolio analysis. Some users appreciate the platform and app’s ease of use, while others are dissatisfied by the user interface and frequent app updates. Some users also expressed frustration with customer service hold times and a lack of transparency related to policy changes. You’ll also benefit from extended trading hours, 24/7 phone support and access to branches that offer in-person customer service.
Best app for ease of use: Robinhood
Reputable brokers take appropriate measures to ensure that your personal information and money are safe. These measures may include data encryption, network security controls like firewalls and proxy servers, multifactor authentication, fraud monitoring and security alerts. EToro and TradeStation are the only brokerages on our list that charge an inactivity fee. Some of the best brokers on our list—Charles Schwab, Fidelity and IBKR—don’t charge for withdrawals. TradeStation is best for active traders who will benefit from advanced charting and high levels of customization. We took points away from TradeStation for its margin interest rates, which are higher than some of its competitors.
- Whether you’re a long-term investor or short-term trader, experienced or new to the stock market, here’s our list of the top seven online brokerages.
- You’ll also benefit from extended trading hours, 24/7 phone support and access to branches that offer in-person customer service.
- SoFi Active Investing provides all the tools new investors need to get started, and you may earn a reward for opening and funding a new account.
- Completed applications are typically approved instantly, though the broker may take a couple of days to verify your information.
- “Legacy” brokers tend to have more assets, more account types, more retirement planning features, and have been around for decades.
Finding the best brokerage account for cash management is not just about earning the highest interest rate possible. It’s also about seamless integration with essential, no-fee banking features and industry-leading insurance. In these areas, Fidelity’s cash management offering is unmatched, and it comes with solid passive earnings power on uninvested cash, along with reimbursable access to a global network of ATMs.
If you don’t have the time, experience, or interest to manage your own investments, you might prefer a robo-advisor or financial advisor. Yieldstreet offers an excellent selection of alternative assets, including private market offerings that focus on artwork, crypto, real estate, private equity, and venture capital. A well-designed platform makes it easy to research investments, make informed decisions, and track your results. All investments pass a four-step due diligence process, and the company’s investor relations team is available at any time via call, chat, or email to answer your questions.
Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses.
Fidelity is best if you’re looking for a full-service brokerage with a long-term approach. If you’re an advanced trader who needs enhanced research capabilities and access to international trading, you may prefer Interactive Brokers over TradeStation. I have found TradeStation to have the best combination of power and user-friendliness of all trading-centric brokerages. Public most broadly appeals to those who appreciate well-designed and simple platforms and need access to all of the most common assets. Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate.
If a brand is a referral partner, we’re paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. It’s also important to diversify your investments in different geographic regions, which can help you minimize your exposure based on economic conditions.
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Its focus on keeping fees low and putting investors first has earned it a lot of trust — and its Vanguard Digital Advisor® product benefits from the trust already built by the broader Vanguard brand. J.P. Morgan Chase is a household name, renowned for its credit cards and banking services. This brand recognition carries over to its brokerage services, which are backed by the reliability of a firm managing billions in assets.
The account opening process for online brokers is typically straightforward. Once your account is approved and funded, you can start trading immediately. Depending on the broker, the entire process can take several hours or up to a week. There are additional requirements for margin accounts or if you want access to futures or options markets. For investors who prefer mobile-first simplicity, Robinhood and Webull deliver real-time trading capabilities with intuitive interfaces and no account minimums. Webull leans more analytical, while Robinhood focuses on ease of access.
