Here is a current list of the best stockbrokers in the US in no particular order. Perhaps, you’re new in the stock market or you have been wanting to hire a new stock broker, you’re in the right place. Stay with me!
10 Best Stock Brokers in the US
1. Fidelity Investments
Fidelity investments is one of the best stock brokers in the US. They’re known for being the nation’s largest keeper of 401k retirement savings plans. In addition, they’re also known for several other benefits.
First, they’re well established with awesome customer support service. Second, they’re one of the best for retirement investors and active traders seeking low fees. with the minimum account balance being $0, and no withdrawal fees. Members have access to over 3400 no-transaction-fees mutual funds.
What’s more? they offer excellent educational and research resources to clients. Lastly, they’ve got a user-friendly interface and charge zero activity fees besides the incredibly low trading fees. Now, every investment has drawbacks and this one is no different. Hence, you should be aware that they do not offer cryptocurrency or high – broker-assisted trade fees. Furthermore, their trading platforms are fidelity.com and active trader pro.
2. Charles Schwab
Charles Schwab is another of the best stock brokers in the US, with about 12.3 million active brokerage accounts and $4.04 trillion in client assets. These were the amounts in assets held as of 2019, they certainly have increased significantly since then. Also, the business runs Schwab Bank, which enables its clients to combine a trading and a checking account.
3. Interactive Brokers
This investment ranks as one of the best stock brokers in the US as its clientele comprises globally recognized investors. Their tradable resources include bonds, equities, and futures amongst other options, and the tradable resources are widely acclaimed and available in about 125 markets across 31 nations and 22 currencies.
Benefits offered to the public include minimal commission, excellent customer service, and a minimum account balance of $0. Furthermore, the maximum withdrawal fee is $0.005 per share on the Pro platform or $0 when using IKBR Lite. Besides, interactive brokers.com which is the client site, trader workstation, APIs, and IBKR Mobile are the available trading platforms.
4. TD Ameritrade
TD Ameritrade has carved out its niche as one of the best stock brokers in the US because of its excellent service standard. The company has a high value with more than 11 million client accounts. In addition, it has a daily trade count of more than 500,000.
It offers stocks, ETFs, mutual funds, options, and fixed-income investments to the public. Furthermore, other benefits are zero commission on the purchase of any of its offerings as well as an extensive choice of investments. Besides, it boasts 4 varying platforms for trading.
Its other benefits are as follows :
- Best for seasoned investors or traders
- Zero fractional shares
- Minimum balance of $0 for US clients only
- However, its fund fees are expensive.
E*TRADE offers clients access to ETFs, mutual funds, stocks, options, and fixed-income products. Furthermore, This stock broker, just like Schwab and Fidelity offers zero trading fees. Additionally, the firm also offers dual checking accounts and has a savings account with $1.25 million in FDIC insurance.
Also, clients have access to a pre-built portfolio, hence enjoy a diversified portfolio of mutual funds. They as well, offer commissions on stocks, options, and ETF trades worth $0 each.
SoFi, short for “Social Finance” rounds at 6th on our list of the best stock brokers in the US. They are a fintech company with over 10 years of experience.
Their pros include:
- There is no required down payment
- Stocks and ETFs are free
- No inactivity fee
- There are options for active and automatic investments.
- Also, they offer cryptocurrency trading, fractional shares as well as free access to expert financial advisors.
Now, the drawbacks of SoFi are:
- Limited product offers
- They serve only US clients
- There are trading fees for cryptocurrencies
- No 24-hour customer service
- Limited resources for research or training.
- And best suited for independent traders.
7. Merrill Edge
Merrill Edge offers three main investing accounts: Self-directed, Guided investment, and Advisor driven investment. Additionally, they have 3 trading platforms namely: Merrill Edge Market Pro, Merrill Edge web, and the mobile app.
Furthermore, their benefits include:
- Excellent research resources
- Zero activity fee,
- A 24/7 customer support
- Zero commission on stock, ETF, and options trades.
While the drawbacks to working with Merrill Edge are :
- Limited product offerings,
- It’s available to only US clients
- No credit /debit card deposits or withdrawals
- It’s no demo account is best for research-focused traders
- And its platform functionality is not advanced.
Although, its option contracts are charged at $0.65 per option and the minimum account balance is $0.
8. Zacks Trade
Zacks Trade is also one of the best stock brokers in the US. They are regulated by EC and FINRA and are best for independent dealers. Additionally, they offer a minimum balance of $0, a large selection of stocks, ETFs, and access to trade on over 91 exchanges in 19 countries.
Furthermore, there is zero inactivity cost, a trial account, diluted shares, and excellent configurable trading tools. Their low points include high fees for mutual funds, scarce educational resources, No futures, CFDs, FX options, and high account minimum amongst others.
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DEGIRO is an online German-Dutch stock broker company that was founded in 2008. Largely for clients in the UK and overseen by top-tier financial regulators including the FCA. They are also one of the most affordable prices on the market. However, they’re best for traders and investors interested in execution only. And their low points include few research resources and no access to Forex.
10. Trading 212
Trading 212, completes our list of the top 10 on the list of best stock brokers in the US. The company was formed in 2004 and has its headquarters in London. Trading 212 is governed by the Bulgarian Financial Supervision Commission as well as the FCA.
Furthermore, this company is best for CFD traders and stick investors seeking user-friendly trading platforms. Its pros are that they offer real stocks, and ETFs are commission-free. Additionally, opening an account is quick and easy. Its cons on the other hand are high forex fees and USD is not accessible as the account currency.