When choosing an online broker, finding the platform that best fits your investment needs is crucial. With the rise in popularity of online trading, more brokers are offering free stock trading and commission-free transactions for various assets. It has become a challenge for users to select suitable brokers. Next, we share with you some famous brokers in the United States.
Best Stock Brokers in the US
| Rank | Broker | Logo | Best for |
| ① | Fidelity |  |
Low Fees and Long-term Investors |
| ② | Etoro |  |
Novice Traders and Professional Traders |
| ③ | IB |  |
Active and Professional Traders |
| ④ | Charles Schwab (TD Ameritrade) |  |
Novice Traders and Professional Traders |
| ⑤ | E*TRADE |  |
Novice Traders and Professional Traders |
| ⑥ | Merrill |  |
Professional Investors Who Need Rich Research Resources |
| ⑦ | Tastytrade |  |
Professional Investors |
| ⑧ | Webull |  |
Traders Who Prefer Simplicity and Lower Costs |
Best Stock Brokers in the US Compared
| Broker | Regulators | Account Minimum | Product Offering | Stock Trades | Options (Per Contract) |
| Fidelity | FINRA, SEC | $0 | ETFs, Stocks, Mutual Funds, Options, Cryptocurrency, and Fixed-Income Products | $0 | $0.65 |
| EToro | FINRA | $100 | Stocks, Currencies, Commodities, Cryptoassets, ETFs, and Indices | $0 | $0 |
| IB | FINRA, ASIC, FCA, FSA | $0 | Stocks/ETFs, Options, Futures/FOPs.Event Contracts, Spot Currencies, US Spot Gold, Bonds, Mutual Funds | $0 | $0.65 |
| Charles Schwab (TD Ameritrade) | FINRA | $0 | Stocks, ETFs, Mutual Funds, and Bonds | $0 | $0.65 |
| E*TRADE | FINRA | $0 | Annuities, Bonds & Fixed Income, Futures, Investment Advisory Service, Options, Stocks, Mutual Funds | $0 | $0.65 |
| Merrill | FINRA | $0 | Stocks, ETFs, Mutual Funds, and Options | $0 | $0.65 |
| Tastytrade | FINRA | $0 | Options, Futures, Stocks, ETFs, Commodities, Indices | $0 | $0 |
| Webull | FINRA, AISC, FSA | $0 | Stocks, Options, Index Options, Futures, ETFs, OTC, Margin, Fractional Shares | $0 | $0 |
Best Stock Brokers in the US Reviewed
① Fidelity
Best for low fees and long-term investors
Founded in 1946, Fidelity is one of the largest financial services companies globally, known for its wide array of investment products, robust trading platforms, and diverse financial services. With its headquarters in Boston, Massachusetts, Fidelity offers a client-centric approach, providing resources and tools to help investors achieve their financial goals. Fidelity customer service is highly rated, offering 24/7 support through various channels.
| Broker | Fidelity |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0.65 |
| Automated Investing Option | ✔ |
| Demo Account | ✔ |
| App/Platforms | ✔ |
Pros & Cons of Fidelity
| Pros | Cons |
| Low commissions and fees, commission-free transactions are also provided | Lack of future investment |
| Comprehensive financial services and products | High broker-assisted trade fee of $32.95 |
| Efficient and real-time customer service |
② Etoro
Best for novice traders and professional traders
Founded in 2007, eToro is a globally recognized and trusted social trading platform, particularly well-suited for beginners who wish to learn trading by mimicking the actions of successful traders. Its unique social trading features allow users to copy the trades of experienced investors. The platform encourages frequent user interaction and deep analysis discussions. CopyTrader lets users follow professional investors, while Smart Portfolios focus on specific themes such as 5G and cloud computing.
| Broker | Etoro |
| Stock Trades | $0 |
| Minimum Deposit | $100 |
| Options (Per Contract) | $0 |
| Automated Investing Option | ✔ |
| Demo Account | ✔ |
| App/Platforms | ✔ |
Pros & Cons of Etoro
| Pros | Cons |
| The platform is simple to operate and suitable for most investors | Account management fee will be charged after one year of no trading |
| With the copy trading function, novice investors can copy and learn other traders strategies | Cannot short trade or borrow margin |
| Comprehensive range of financial products and services | |
| A wider variety of cryptocurrency transactions |
③ IB
Best for active and professional traders
Interactive Brokers is a discount brokerage firm founded in the United States in 1978. It is headquartered in Greenwich, Connecticut, and has offices in several other countries, including the United Kingdom, Hong Kong, and Australia. The company provides electronic brokerage services to individual and institutional clients, offering a range of financial products, including stocks, options, futures, forex, bonds, and funds. Interactive Brokers is regulated by several financial authorities, including the SASIC, FCA, FSA, and SFC.
| Broker | Interactive Brokers |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0.65 |
| Automated Investing Option | ✔ |
| Demo Account | ✔ |
| App/Platforms | ✔ |
Pros & Cons of Interactive Brokers
| Pros | Cons |
| High-end and complex financial instruments | Complex interface make it difficult for novice traders to use |
| Low transaction fees | |
| Convenient and fast mobile programs |
④ Charles Schwab (TD Ameritrade)
Best for most traders
Charles Schwab, after acquiring TD Ameritrade, has expanded beyond traditional “buy and hold” brokerage services and now hosts the Thinkorswim trading platform, renowned as one of the industry's top platforms. It is suitable for all types of investors, offering free robo-advisors and commission-free trading for stocks and ETFs. While some fees may be slightly higher compared to Fidelity, Schwab's integration with Thinkorswim enhances its trading capabilities, making it a comprehensive choice for both beginners and advanced traders.
| Broker | Charles Schwab |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0.65 |
| Automated Investing Option | ✔ |
| Demo Account | ✔ |
| App/Platforms | ✔ |
Pros & Cons of Charles Schwab
| Pros | Cons |
| TD Ameritrades Thinkorswim trading platform is now available to Schwab clients | Does not offer cryptocurrency trading |
| Industry-leading educational resources | Complex mutual fund fees |
| Various funding methods available for account deposits | |
| 24-hour phone and live chat customer service |
⑤ E*TRADE
Best for novice traders and professional traders
E*TRADE provides access to a wide range of trading products, including stocks, options, futures, ETFs, mutual funds, and bonds. It is well-regarded for its advanced trading platforms, including the Power E*TRADE web and mobile app, which feature interactive charts, technical studies, and sophisticated trading tools.
With its user-friendly interface, zero commission fees on key investment products, and robust customer service, E*TRADE is suitable for novice and experienced traders to manage their investments effectively.
At the end of 2020, Morgan Stanley acquired ETRADE, expanding ETRADE's clients' access to Morgan Stanley's extensive resources. This acquisition transformed E*TRADE from a mere online trading platform into a more competitive, comprehensive financial services provider.
| Broker | E*TRADE |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0.65 |
| Automated Investing Option | ✔ |
| Demo Account | ✔ |
| App/Platforms | ✔ |
Pros & Cons of E*TRADE
| Pros | Cons |
| Get business help from Morgan Stanley | Does not offer cryptocurrency trading |
| 24/7 customer service | High margin rate requirements |
| Innovative trading platform with a powerful mobile app |
⑥ Merrill
Best for professional investors who need rich research resources
Merrill, based in the United States for over 15-20 years, offers a wide array of tradable securities and services, including stocks, ETFs, mutual funds, and options. It provides commission-free trading, extensive third-party research, and access to Bank of America branches, making it especially beneficial for existing Bank of America clients. Merrill features the Idea Builder interface and automated portfolio management services. It is suitable for self-directed investors and those seeking simplified investment solutions.
| Broker | Merrill |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0.65 |
| Automated Investing Option | ✔ |
| Demo Account | ❌ |
| App/Platforms | ✔ |
Pros & Cons of Merrill
| Pros | Cons |
| Providing proprietary research reports on U.S. banks and securities | Its application is not suitable for high-frequency traders |
| Low fee structure | Does not offer cryptocurrency trading |
| Has many offline site services for U.S. banks |
⑦ Tastytrade
Best for professional investors
Tastytrade is a financial media company offered by TASTYTRADE, INC., registered in the United States, and has been operating for 10-15 years. It is an online brokerage that offers investing services in stocks, annuities, options, and more. The company is known for its innovative and engaging approach to financial education, making complex trading concepts accessible and entertaining, and providing its users with the tools and knowledge they need to succeed in active trading.
| Broker | Tastytrade |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0.50 |
| Automated Investing Option | ✔ |
| Demo Account | ❌ |
| App/Platforms | ✔ |
Pros & Cons of Tastytrade
| Pros | Cons |
| Rich trading learning resources | No demo account trading |
| Innovative trading tools | Relatively high learning ability requirements for novice traders |
| Mobile apps dont require multiple screens to use | |
| Low transaction fees |
⑧ Webull
Best for traders who prefer simplicity and lower costs
Webull was founded in 2017, quite newer to the brokerage industry than traditional players like Charles Schwab, Fidelity and Robinhood. However, it stands tall when it comes to product offerings: Stocks, Options, cryptos, Index Options, Futures, ETFs, OTC, Margin, and Fractional Shares.
Webulls commission-free trading for stocks, ETFs, and stock options is a major draw for beginners and intermediate traders, especially with its clean and easy-to-use interface. For short-term traders who value low costs and platform flexibility, Webull is a strong choice. However, for those seeking in-depth research reports or more comprehensive services, Schwab, Fidelity, and Merrill Edge might be better suited.
| Broker | Webull |
| Stock Trades | $0 |
| Minimum Deposit | $0 |
| Options (Per Contract) | $0 |
| Automated Investing Option | ✔ |
| Demo Account | ✔ |
| App/Platforms | ✔ |
Pros & Cons of Webull
| Pros | Cons |
| 0 transaction fee for options | Not supporting forex trading |
| Provide demo trading | No open-end mutual funds available |
| No minimum balance required | |
| Fractional share and margin trading supported |
Stock Brokers FAQs
How to choose a stock broker for beginners?
Beginners should consider two factors when picking a stock broker. The first point is to choose a trader with rich educational resources and learn what trading is and how to trade. The second point is to find a stock broker with a demo account, first use demo trading to improve the trading system, and then participate in real trading.
Do you need multiple brokers?
We can choose different types of brokers based on our own characteristics. If there is an account that we frequently trade, then we can choose a dealer with low transaction costs. If we have very few transactions in some accounts, we can choose a dealer with no management fees. If we need a lot of learning resources, we can choose some traders that provide more learning resources.
Should I open a cash account or a margin account?
If you are a professional trader, you can open a margin account so that you can use leverage to increase your capital utilization. If you are a novice investor, you should choose a cash account, which can control the potential risks of transactions and avoid huge losses due to market fluctuations.
Can investors trade with small amounts of money?
Investors can trade with small amounts of capital. They can choose some dealers that require lower account deposits, or they can choose those dealers that support investing fractional shares of stocks.
Stock Risk Disclaimer
Investing in stocks involves significant risk and may not be suitable for all investors. The value of stocks can fluctuate widely and may result in substantial gains or losses. Past performance is not indicative of future results, and there is no guarantee that any investment strategy will be successful. It is important to conduct thorough research and consider your financial situation, investment goals, and risk tolerance before making investment decisions.
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Best Stock Brokers in the US for 2024
When choosing an online broker, finding the platform that best fits your investment needs is crucial. With the rise in popularity of online trading, more brokers are offering free stock trading and commission-free transactions for various assets. It has become a challenge for users to select suitable brokers.
