Best Online Brokers

September 13th, 2019

Advertiser Disclosure

Overview

Looking to invest in the stock market? Well, you're going to need an online stock broker. Whether you're a beginner or an expert investor, choosing the right online broker is just as important as picking the right investment. Fortunately for you, we've done all the research, sorted through the details, and have created a comparison tool of the best online brokers available.

If you're not sure of what you should be looking for in an online stock broker, get whyze and check out this video first!

Best For:

Low-Cost Investing

Ally Invest Logo

Stock
Fees

$4.95

per trade

Option
Fees

$4.95 + 65¢

per contract

Account
Minimum

Special
Promotion

Up To $3,500

cash bonus + commission free trades for 90 days (up to $500 value)

Special Pricing:

$3.95 per trade with 30+ trades a quarter or $100,000 minimum balance

The Bottom Line

If you are looking for low trading fees and quality charts and tools that will enhance your trading experience, Ally Invest is right up your alley.

Best For:

Low-Cost Investing

Charles Schwab Logo

Stock
Fees

$4.95

per trade

Option
Fees

$4.95 + 65¢

per contract

Account
Minimum

Special
Promotion

$100

cash bonus when you refer a friend

The Bottom Line

Charles Schwab is a well-balanced trading platform for both beginner and advanced traders looking for a solid selection of commission-free ETFs, no-minimum mutual funds, and quality research tools for a modest cost.

Best For:

Resources And Tools

Etrade Logo

Stock
Fees

$6.95

per trade

Option
Fees

$6.95 + 75¢

per contract (50¢ w/ 30+ trades/qtr)

Account
Minimum

Special
Promotion

Up To $600

cash bonus + 60 days of free trades with a qualifying deposit

Special Pricing:

$4.95 with 30+ trades per quarter

The Bottom Line

E*Trade has a large selection of resources and tools to assist you in investing. If you're not trading frequently though, E*Trade commissions may be slightly expensive.

Best For:

Selection of mutual funds

Fidelity Logo

Stock
Fees

$4.95

per trade

Option
Fees

$4.95 + 65¢

per contract

Account
Minimum

Special
Promotion

Up to 500

commission-free trades with a qualifying deposit

The Bottom Line

If you are seeking a great selection of ETF's and mutual funds, solid trading platforms, and in-depth research tools at a low cost, look no further.

Best For:

Advanced volume traders

Interactive Brokers Logo

Stock
Fees

$0.005

per share. min $1 per order and max 1% of trade value

Option
Fees

$0.00 + 70¢

per contract. min $1 per order

Account
Minimum

Special
Promotion

None

no promotion available at this time

The Bottom Line

Interactive Brokers robust platform and advanced tools are best suited for advanced traders and may be overwhelming for less experienced traders who need to watch out for possible inactivity fees. Interactive Brokers' cost structure is designed to encourage frequent volume trading at a low cost with its selection of stocks, options, commission-free ETFs, no-transaction-fee mutual funds, and more.

Best For:

Bank of America customers

Merrill Edge Logo

Stock
Fees

$6.95

per trade

Option
Fees

$6.95 + 75¢

per contract

Account
Minimum

Special
Promotion

Up to $600

cash bonus with a qualifying deposit

Special Pricing:

30 free trades per month for BoA customers with 3-month avg combined balance of $50,000

The Bottom Line

Merrill Edge is a great offer for active Bank of America checking account holders with its seamless integration and special trade pricing. Outside of this special offer, Merrill Edge does not provide any commission-free ETFs but does boast great research and educational services on a solid and reliable trading platform.

Best For:

Easy-To-Use Platform

Robinhood Logo

Stock
Fees

$0

per trade

Option
Fees

$0

per contract

Account
Minimum

Special
Promotion

Free Stock

when you refer a friend

The Bottom Line

If you want to minimize costs and don't require all the bells and whistles that come with most online brokers, Robinhood may be the broker for you. While Robinhood boasts commission free trading, it lacks mutual funds, advanced charts, and dividend reinvestment.

Best For:

Investing Tools And Platforms

TD Ameritrade Logo

Stock
Fees

$6.95

per trade

Option
Fees

$6.95 + 75¢

per contract

Account
Minimum

Special
Promotion

Up to $600

cash bonus + 60 days of commission-free trades with a qualifying deposit

The Bottom Line

If you're looking for educational resources, advanced tools, and multiple trading platforms, TD Ameritrade may be a perfect fit for you. Although TD Ameritrade is committed to providing you a diverse toolset, its commission fees are on the higher end.

Best For:

Active and advanced traders

Tradestation Logo

Stock
Fees

$5.00

per trade

Option
Fees

$5.00 + 50¢

per contract

Account
Minimum

Special
Promotion

60 days

of commission-free trades with a qualifying deposit

The Bottom Line

TradeStation does not offer commission-free ETFs or no-transaction-fee funds but is ideal for active and advanced traders who desire efficient performance with quick trade execution, detailed research, highly-customizable charts, and multiple pricing plan options.

Best For:

Mutual Funds & ETFs

Vanguard Logo

Stock
Fees

$7.00

for first 25 trades; $20 therafter

Option
Fees

$7.00 + $1.00

per contract

Account
Minimum

Special
Promotion

None

no promotion available at this time

The Bottom Line

If you are not an active trader and prefer to buy and hold ETF's and Mutual Funds at the lowest possible costs then Vanguard was designed just for you.

Best For:

Wells Fargo Bank Customers

Wellstrade Logo

Stock
Fees

$5.95

per trade

Option
Fees

$5.95 + 75¢

fee per contract

Account
Minimum

Special
Promotion

None

no promotion available at this time

Special Pricing:

$2.95 per trade with Wells Fargo Bank Account

The Bottom Line

WellsTrade is best suited for existing Wells Fargo customers who can take advantage of the special pricing and integration with their Wells Fargo bank account. Otherwise, most other brokers will offer more services, tools, and education at a lower cost.