The American Broker

5 Top Online Stock Brokers

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Broker Basics

It is our top recommendation for discount trading. Extensive research access along with consistent customer service, ample tools, the largest selection of commission-free funds, and industry-leading market reports combine to present a great full-service brokerage.

The broker also won first place for Mobile Trading, and offers well-rounded access to quality research, trading tools, education, and more. New clients that open an account today receive a special margin rate. Low Fees and Free Market Data. TradeStation's advanced trading platform has been awarded Best Platform Technology for the past five years.

For active traders, TradeStation was rated 5 stars and comes packed full of tools and functionality.

Like Merrill Edge and Capital One Investing, customers can easily manage their banking and brokerage accounts under one login. When looking for a new online broker, make sure you meet your most important needs as an investor. Are low-cost trade commissions most important? What about customer service, the trade platform, mobile trading, active trading, or a community to trade alongside? With many brokers specializing in different areas, it is vital to evaluate and compare all the possibilities.

Based on 59 different variables, here is a summary of the top five brokers for stock trading tools and trade platforms.

To trade online successfully, some investors rely purely on their trading tools. Advanced charting, options tools, screeners, hotkeys, virtual trading, watch lists, ladders, Level II quotes, and back testing are just a sampling of the functionality brokers make available to their customers.

Best Stock Brokers Summary

Over the years, I have learned it is not just the trading tools that separate brokers, but the design, depth, speed, and overall execution of delivering the ultimate trading experience. After spending hundreds of hours on both desktop platforms, we give thinkorswim the edge, thanks to its modern feel and outstanding trader tools; however, both platforms execute so well that it truly comes down to personal preference.

Die-hard fans exist for both, and either one is a great choice for seasoned active traders.

International Guides

While these platforms do not offer the same depth of trading tools, historical data, chart studies, etc. In some respects, their balance of power and design make them a better fit for certain traders. Unfortunately, not all active trader platforms are free to use or available to all customers. Platform fees and minimums are set in place to control costs, and while these serve simply as examples, investors should be aware of them if they are considering an online broker based solely on its platform.

Investors who prefer a web-focused experience have a choice of many great browser-based platforms. Best Brokers for Options Trading. Ultimately, TD Ameritrade takes the overall No. Trade Architect browser appeals to newer and intermediate investors, while thinkorswim desktop is built solely for seasoned active traders. The icing on the cake? Both platforms require no minimums or fees for access and use. All customers have access. Before selecting a broker based on its platforms and tools, take time to read our online broker reviews , narrow your search to two or three brokers, compare their offerings , then make a decision.

Start with questions like: What specific trader tools must I have to trade successfully? Will I reach the minimums to maintain fee-less, consistent access throughout the year? Do I prefer a more user-friendly browser-based platform or a more advanced trader-focused desktop platform? It is not surprising that the largest, most publicly known online brokers excel, and all vie for the top spot for research. With larger client bases and higher commission costs, high-quality research is expected.

Comparing apples with apples, all five brokers are fairly similar. They all use Morningstar as their primary provider for Exchange Traded Funds ETF and mutual fund research, all of them offer a slew of data and graphs for researching stocks, and all offer fixed-income research. Slight differences begin to show only when you assess specifics such as total third-party research reports available for equities, for example Apple AAPL.

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Choosing the Best Online Brokerage

You have selected to change your default setting for the Quote Search. This will now be your default target page; unless you change your configuration again, or you delete your cookies. Its platforms thinkorswim was 1 desktop platform , tools, mobile apps including Alexa Skill and Facebook Messenger bot , research, customer service 1 for phone support , and education 1 are all award winning. Get up to free trades for 2 years. Fidelity is best known for its value driven customer experience. Beyond cost and ease of use, Fidelity also finished 1 for research tools.

OptionsHouse has been rated the 1 platform for Options Trading the past seven years. Merrill Edge is the online investing arm of Bank of America BofA , which is open to all investors, regardless if they are a current BofA customer. Other rewards perks include credit card bonus cash back, savings interest bonuses, priority customer service, and more. My wife and I have personally been using the program since it launched in and I have yet to pay for a single stock trade. With its competitive commission rates for stocks and options trading, investors who have previous market experience will find themselves right at home.

However, unless you are already an Ally customer, you will find that there are better offerings available. Having the best stock broker to serve individual needs is very important for any investor. For example, cheap trades most often come at the expense of less research tools and a more simplified trade platform. Consider these 12 key factors to help compare all stock brokers and ultimately find the best broker to suite your needs. Trade Commissions What does it cost to buy shares of stock?

Best Online Brokers for Stock Trading

Does the fee change based on the type of order or size of order? To keep it simple, look for brokers that offer flat-fee trades, ie charging a flat rate regardless of the type, price of the stock, or size of the order. Customer Service When picking up the phone or emailing a broker, is a well trained customer service representative ready to assist?

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