Are you in the market for a new online stock broker? Or are you new to investing and want to start with the best online stock broker around?
The best online stock brokers offer opportunities to invest in the assets you want with the lowest fees possible. Some offer automated and assisted investing, while others are specialized for do-it-yourself (DIY) investors.
To help you pick the best online stock broker for your unique investment needs and goals, we took a look at the most popular brokerage firms around to help you zero in on the right investment company for 2022 and beyond.
Best Online Stock Brokers at a Glance
- TD Ameritrade – Best for Active Traders (Mobile)
- Interactive Brokers – Best for Active Traders (Desktop)
- E*TRADE – Best for Fee-Free Mutual Funds
- Charles Schwab – Best for General Investing
- Robinhood – Best for Low-Cost Options Trading
- Fidelity – Best for Retirement
- M1 Finance – Best for Automated Investing
- SoFi – Best for Beginners
TD Ameritrade – Best for Active Traders (Mobile)
What makes it great: TD Ameritrade is a top choice among active traders thanks to its Thinkorswim platform. While beginners and passive investors should find the main TD Ameritrade apps for desktop and mobile suitable, active traders will want to upgrade their experience with Thinkorswim, available to all users at no extra cost.
Thinkorswim mobile includes all desktop features, including customizable charts, live news, and live help with your trading strategy inside the app. It also has a free paper money (virtual trading) account to test your strategy risk-free.
Potential drawbacks: TD Ameritrade still doesn’t support fractional shares. Also, it’s no longer accepting new clients to its robo advisor service (Essential Portfolios) and has begun referring advisory clients to its parent company, Charles Schwab. So if you’re looking for a broker that can handle both your active and passive investing needs, TD Ameritrade may not be the best fit.
Commissions and fees: TD Ameritrade offers most trades and accounts with no commissions or ongoing fees. Like competitors, mutual funds are not always free, and options require a per-contract fee ($0.65). Phone and broker-assisted trades require a fee, as do other less common needs.
- High-quality desktop and mobile trading apps
- Low fees and commissions for most investors
- Good for both beginners and experts
- Support for forex and futures trading
- Doesn’t support fractional shares
- No robo advisor options
[…] — This is an order where you set a specific price you’re willing to pay for a stock. The broker will wait to purchase the stock until that price or a lower one is reached. Limit orders can also be placed on the sale of the […]