Which Brokerage Firm Is Best

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Which Brokerage Firm Is Best

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We believe that investing is the most important thing you can do to secure your financial future.

However, to get the best investment results, you really need to make sure that you are using one of the best brokerage accounts in the market today.

Our list below is the result of hundreds of hours our experts have spent researching and testing the best stock trading platforms. Almost all of the best online marketers we recommend on this site are personally used by our staff here at The Motley Fool.

Below is what you need to know about online shopping to choose the best trading platform for you.

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Unlike many other financial sites, we do NOT allow affiliate rewards to determine which products we list here (and we personally use most of these brokerages ourselves).

Circle the letter I. Our ratings are based on a 5-star scale. 5 stars equals excellent. 4 stars is a perfect fit. 3 stars equals good. 2 stars equals fair. 1 star equals poor. We want your money to work hard for you. That's why our ratings focus on deals that offer flexibility while lowering out-of-pocket costs. = Very good = Very good = Good = Fair = Poor

Fidelity is one of the largest and most comprehensive firms in the US today. Importantly, Fidelity offers $0 commission for online stock and ETF trading, as well as a quality mobile app suitable for both beginners and experienced investors.

Special Offer Circle the letter I. Get $100 when you open a new qualifying Fidelity account with $50 or more. Use code FIDELITY100. Provisional provision. Terms and conditions apply.

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Merrill Edge® Self-Directed offers easily one of the biggest bonuses we've ever seen. Excellent brokerage with $0 online stock and ETF trading, solid research offerings, and excellent customer support. Owned by Bank of America, you can also access its fantastic Preferred Rewards program.

With no fees, access to fractional stock trading and cryptocurrency, Robinhood is a low-cost but effective brokerage account.

SoFi has built a strong and valuable ecosystem to help you manage your money in one place. SoFi Active Investing enhances this ecosystem with $0 share commissions, cryptocurrency trading, and low account minimums.

One of the best merchant accounts for active traders and has the lowest commissions and margins around.

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If you want to go without a minimum balance and industry standard no commission agreements, offering a commission mutual fund makes it a smart choice for some investors.

E*TRADE can satisfy active traders with multiple trading platforms while also reaching long-term investors with thousands of mutual funds and ETFs that can be traded without funds.

Webull is a mobile investment platform that stands out for the quality and simplicity of its experience and without commissions.

Schwab has slashed fees for its mutual funds and ETFs, eliminated checking account fees, reduced commissions to $0 per trade, and allows investors to buy fractional shares of the stock, making it more affordable.

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It's not the best broker for active traders, but Vanguard remains a top choice for passive investors with excellent zero-commission options for index funds and ETFs.

$0 online; $0 per call; $25 ETF trading fee for other companies (less than $1 million)

All TD Ameritrade Self-Directed Plan Services accounts are expected to convert to Charles Schwab accounts by the business weekend (Sept. 2-Sept. 5, 2023). We have removed TD Ameritrade from our list of best brokers so that investors do not have to open an account and transfer immediately. Here at Ascent, you can trust that we are constantly reviewing our selection of top brokers to bring you the most up-to-date information.

Why we chose it: Merrill Edge® Self-Directed has low fees, strong research offerings and 24/7 customer support. It's a solid choice for all investors, but especially attractive to Bank of America clients.

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Merrill Edge has everything we want in a brokerage—$0 stock and ETF fees, a variety of account types, and a variety of investment vehicles, including stocks, ETFs, options, mutual funds, CDs, and bonds. It is a solid choice for ETF and stock investors who value research and customer service.

But the real benefit of Merrill Edge comes when you're a Bank of America customer. Merrill Edge is owned by Bank of America, which means an investment in Merrill Edge gives you access to the Bank of America Preferred Rewards program and multiple Bank of America branches for personalized customer support.

Any customer with at least $20,000 in BoA accounts and Merrill Investment accounts combined is eligible for the Bank of America Preferred Rewards program, where you can get discounts on rates and fees on many bank products (and bonus credit card rewards!). Preferred Rewards has three tiers and larger balances mean better rewards.

If you're a Bank of America customer, you can get higher interest rates and save money on other financial products with a Merrill Edge account.

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"I've had Merrill Edge for over seven years now. I chose it because Merrill was at the beginning of the game when it came to $0 equity investing (for Bank of America clients). I stick with it because the platform offers everything I need for long-term investing without the extra noise or hassle. I also like that it's integrated just as easily as my other Bank of America banking products."

Why we chose it: Fidelity tops the list for everything we want in a broker - $0 commissions, a variety of investment options, investor research, and an easy-to-use mobile and desktop platform. Our pick for the best seller because it's so hard to beat.

Honesty has been around for decades and their reputation precedes them. Known as the gold standard in the retail industry, Fidelity has millions of customers and undeniable credibility.

It offers a wide selection of trading assets: stocks, ETFs, mutual funds, options and, from 2023, cryptocurrency. Fidelity meets the $0 industry standard for stocks and ETFs, but it really shines with more than 3,000 mutual funds that have no transaction fees, common to only a few brokers on this list.

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Fidelity also offers more independent research than any other discount brokerage. Also, it has a good amount of educational resources and offers partial trading, making it a good choice for beginner investors.

When investors often have to choose which features are important to them—low costs, thorough research, good investment choices, beginner-friendly education—Fidelity ticks the boxes on nearly every major claim. It's a great choice for both novice and experienced investors, and really anyone in between.

“I have been using Fidelity for over ten years and my experience has been excellent. I found the platform easy to use, great customer service and no fees. A limited feature is the ability to switch your primary financial position to higher yielding options including a money market fund or treasury fund. The returns on these funds are very attractive and mean you can feel free to keep the money you expect to invest - these funds currently earn the same or higher rate than most high yield savings account options. Please note that you must change your primary currency to one of these currencies - it is not possible. These funds are not FDIC insured, but I think they are very safe—but if you want more peace of mind, put your money in a high FDIC insured savings account instead.”

Why we chose it: Robinhood is a great option for investors who don't want all the bells and whistles of a full brokerage, but still want access to affordable and diverse investment options on the go.

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Robinhood was designed as a mobile and simple investment platform. With $0 commissions and a range of fractional stock options, it's a great choice for people looking for cheap trading.

In fact, although many brokers who have reduced their standard commission for trading stocks have also reduced their base commission for trading options, many of them still charge a small commission per contract. Robinhood allows traders to buy and sell as many options contracts as they want without commissions, making it a great option for people who want to trade options.

On the other hand, Robinhood does not support mutual funds either

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