Winners Summary
Best online broker - Fidelity
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Fidelity
|
$0.00 |
$0.00 |
$0.65 |
Why Fidelity is the best overall broker: Fidelity is a broker I use almost every day. Fidelity’s standout appeal as the best online broker starts with its impressive range of research tools and educational resources, which are unmatched by competitors. If you’re someone who values in-depth market insights and research variety, Fidelity is a top choice.
Research: From proprietary reports to third-party insights from firms like Zacks and Morningstar, Fidelity brings a wealth of analysis to the table. This commitment to comprehensive market data allows investors of all experience levels to make informed decisions, supported by advanced screeners that sift through stocks, ETFs, and funds based on specific criteria like ESG ratings. For a research-oriented investor, Fidelity’s offerings are second to none.
Pricing: The firm’s zero-commission trading model and transparent fee structure further enhance its appeal, particularly for budget-conscious investors. Fidelity’s low-cost structure doesn’t sacrifice order quality, with top-notch price improvement practices in place and zero fees on mutual funds in select categories. Uniquely, Fidelity also refrains from participating in payment for order flow (PFOF), ensuring that orders are executed with an emphasis on client benefit, not broker profit. Add in perks like no account transfer fees and no extra charge for trading penny stocks, and Fidelity’s pricing structure is clearly designed to serve investors’ best interests.
Mobile: Fidelity’s mobile app and user-friendly website are equally impressive, making navigation simple and efficient. The app, with its customizable dashboard and powerful charting tools, offers a smooth experience that’s intuitive even for newer investors. Whether you want quick trade execution, fundamental market insights, or the ability to plot dividends and splits, the app’s depth and usability stand out. The mobile experience also integrates personal finance tools and features like Fidelity Bloom for savings, while the Fidelity Youth App provides financial education for teens, making Fidelity a great place for a trader to get their start beginning at their very earliest investment.
Check out my full review of Fidelity to get all my thoughts about this broker and explore more of its offerings.
Fidelity Mobile app gallery
Fidelity research gallery
Best for mobile trading - E*TRADE
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 E*TRADE
|
$0.00 |
$0.00 |
$0.65 |
Why E*TRADE is the best broker for mobile trading: Offering not one but two apps, my takeaway is that E*TRADE Mobile provides usability and depth for what matters most to casual investors: portfolio management, quotes, watch lists, market research.
Mobile: E*TRADE takes the spot for the best mobile trading platform due to its user-friendly interface and impressive dual-app offerings, catering to both beginners and more experienced traders. The E*TRADE Mobile app, ideal for casual investors, provides seamless access to portfolio management tools, quotes, watchlists, and real-time market research. Using these tools through the app, users can monitor investments, access up-to-date data, and quickly identify market opportunities. The Power E*TRADE app, meanwhile, takes functionality further, targeting traders who need advanced charting and analytics. This two-app approach combines simplicity with robust functionality, creating a well-rounded experience that aligns with a variety of trading needs.
Trading tools: What sets E*TRADE further apart is the depth of its trading tools, which enhance the mobile trading experience without overwhelming users. Earning the No. 1 award from StockBrokers.com in 2024 for both mobile and web platforms, Power E*TRADE includes standout tools like the Live Action scanner for short-term trade ideas and StrategySeek for options, empowering investors to find market opportunities based on technical patterns, volatility, or unusual activity. While many mobile platforms lack depth, E*TRADE’s advanced tools — such as real-time streaming data and charting with over a hundred indicators — provide the analysis depth most users would only expect from a desktop platform.
Research: Backing these features is E*TRADE’s strong research support, bolstered by Morgan Stanley’s 2020 acquisition. This partnership grants E*TRADE users unique access to proprietary research reports and third-party analysis tools, enriching their understanding of stocks, ETFs, mutual funds, and options. Features like the Recognia chart recognition tool help simplify technical analysis, making it accessible for both beginners and intermediate traders. For investors who value actionable insights in a mobile-friendly package, E*TRADE offers a seamless and data-driven trading experience — making it a top choice for mobile traders in 2024.
Head on over to my complete E*TRADE review for more details on what makes this broker fantastic for mobile traders.
E*TRADE Mobile apps gallery
E*TRADE Mobile, one of two strong apps the broker offers. Press play for a tour of its features.
Best desktop stock trading platform - Charles Schwab
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Charles Schwab
|
$0.00 |
$0.00 |
$0.65 |
Why Schwab is the best desktop stock trading platform: Charles Schwab hit a home run with its acquisition of the thinkorswim platform from TD Ameritrade, hands down my favorite trading platform thanks to its deep breadth of advanced tools and charting technology.
Desktop: I often find myself raving about thinkorswim for its deep suite of tools, from highly customizable charts to real-time streaming data that keeps you locked into the market. As someone who values granular analysis, I found thinkorswim unmatched for active traders needing advanced chart studies and layout flexibility. It’s a desktop platform built for serious traders who demand accuracy and breadth in their tools, which Schwab delivers with near-flawless execution. I prefer the thinkorswim desktop for monitoring huge watch lists, charting, and watching streaming market news.
Education: In addition to its technology, Schwab’s educational resources set it apart, making it a leader for traders who seek ongoing skill-building. Schwab's educational hub offers webinars, real-time coaching, and extensive articles that take the mystery out of complex trading strategies. From beginner guides to advanced seminars, Schwab's learning center is impressive in depth and quality. This focus on accessible, in-depth education — complemented by professional coaching — positions Schwab as the ideal broker for traders who want to expand their skill set without leaving the platform.
Pricing: Schwab further excels by combining low fees with a full lineup of trading products. Stock and ETF trades are commission-free, and options come in at a reasonable $0.65 per contract. While certain niche areas, like cryptocurrency, are not yet available, Schwab’s offerings cover nearly everything else an active trader might need, from stocks and options to futures and forex. With specialized support for high-net-worth clients, Schwab is just as fitting for larger portfolios as it is for retail traders, creating a versatile environment suited to nearly any trading need.
Visit my comprehensive Charles Schwab review to learn more about the thinkorswim platform and find out more about its offerings.
thinkorswim gallery
Best online brokers comparison
FAQs
Are brokerage accounts FDIC insured?
No, the Federal Deposit Insurance Corporation does not insure brokerage accounts. However, brokerage accounts are protected for up to $250,000 in cash/$500,000 per customer against a broker’s insolvency by the Securities Investor Protection Corporation (SIPC). Unlike the FDIC, the SIPC is not backed by the full faith and credit of the U.S. government and is instead a non-profit corporation with a mission to protect customer assets.
What is the best online broker?
Fidelity is the best online broker for most people due to its strong overall rankings across key categories, particularly in its pricing and investment choices. That said, there will often be specific concerns for you as a trader or investor that'll make a different broker an even better fit. The brokerage testing team at StockBrokers.com maintained live accounts at 17 brokers in 2024 and used them to evaluate each broker’s tools, ease of use, data, design, and content. Here are the five top-scoring brokerage firms and the accolades won in the StockBrokers.com Annual Awards for 2024:
- Fidelity – 5 stars – Our pick for Best Overall Stock Broker, including Best for Customer Service, Best for Education, Best for Beginners, Best for Penny Stock Trading, and Best for IRA Accounts. Fidelity also won awards for #1 Innovation and #1 Phone Support.
- E*TRADE – 5 stars – Industry awards for #1 Investor App and #1 Web Trading Platform.
- Charles Schwab – 5 stars – Best for Research, Best for High Net Worth Investors. Schwab also won industry awards for #1 Trader App, #1 Bond Research, and #1 Desktop Stock Trading Platform.
- Merrill Edge – 4.5 stars – Best Bank Brokerage and industry awards for #1 Overall Client Experience, and #1 Client Dashboard
- Interactive Brokers – 4.5 stars – Best Platforms and Tools, Best Mobile Trading Apps, Best Investment Options, and Best (for) Day Trading. It also won industry awards for #1 International Trading, #1 Platform Technology, #1 ESG Investing, #1 Professional Trading, #1 Fractional Shares, #1 Sentiment Investing, and #1 Bond Trading.
Does it matter which broker I use?
Yes, the broker you choose to use will greatly impact the kind of markets you have access to, the sort of trading tools you can use, the cost of trading, the amount of fees you pay, and the quality of the research and educational resources you can leverage when making trading decisions.
- Consider your experience and knowledge. Do you want a broker that focuses on tools and features, or would you prefer a broker that is easy to use?
- Know what you want to invest in. Some brokers do not offer mutual funds or cryptocurrencies, while others allow global trading.
- Consider whether you want a practice account. Some brokers let you practice with paper trading.
Our testing
Why you should trust us
Sam Levine, CFA, CMT, formerly a lead writer for StockBrokers.com, has over 30 years of investing experience and actively trades stocks, ETFs, options, futures, and options on futures. He's held roles as a portfolio manager, financial consultant, investment strategist and journalist. He holds the Chartered Financial Analyst (CFA) and the Chartered Market Technician (CMT) designations and served on the board of directors of the CMT Association.
Blain Reinkensmeyer, co-founder of StockBrokers.com, has been investing and trading for over 25 years. After having placed over 2,000 trades in his late teens and early 20s, he became one of the first in digital media to review online brokerages. Today, Blain is widely respected as a leading expert on finance and investing, specifically the U.S. online brokerage industry. Blain has been quoted in The New York Times, The Wall Street Journal, Forbes, and Fast Company, among others. Blain created the original scoring rubrics for StockBrokers.com and oversees all testing and rating methodologies.
How we tested
- We used our own brokerage accounts for testing.
- We collected multiple data points for each broker.
- We tested each online broker's website and mobile app, where applicable.
- We maintained strict editorial independence; brokers cannot pay for inclusion or a higher rating.
Our research team meticulously collected data on features with particular importance to those saving for retirement, such as trading costs, management fees, availability of fee-free funds, ease of website and app use, and retirement planning tools and resources.
At StockBrokers.com, our reviewers use a variety of computing devices to evaluate platforms and tools. Our reviews and data collection were conducted using the following devices: iPhone SE running iOS 17.5.1, MacBook Pro M1 with 8 GB RAM running the current MacOS, and a Dell Vostro 5402 laptop i5 with 8 GB RAM running Windows 11 Pro.
Each broker was evaluated and scored in seven key categories: retirement account types, IRA fees, self-directed investment options, managed investment options, retirement planning tools, rollover experience, and ease of use.
Fidelity
Merrill Edge
E*TRADE
TradeStation
Interactive Brokers
Charles Schwab
tastytrade
eToro
