Charles Schwab
Interactive Brokers
Fidelity
E*TRADE
Merrill Edge
TradeStation
tastytrade
eToroHow We Test
Since 2009, our mission at StockBrokers.com has been to provide in-depth, unbiased reviews of online stock brokers for U.S. traders and investors. Our editorial principles have earned the trust of millions of readers; our data-driven broker reviews and guides have been visited by over 20 million investors.
We research, fact-check, and audit data throughout the year. Your trust in us, as well as the trust we have earned from the industry as a whole, is of the utmost importance to our mission and our charter as a Certified B Corporation™.
The StockBrokers.com Annual Review: A Short History
Our editorial team produced the StockBrokers.com Annual Review of the top U.S. online brokers in the industry for 14 consecutive years. Each year, we gathered thousands of data points, crafted tens of thousands of words of research, and delivered dozens of awards to the best online brokers. Learn more about StockBrokers.com.
In 2024, we announced the next stage in the evolution of the StockBrokers.com Annual Review: The StockBrokers.com Annual Awards.
Adhering to the same strict standards as our Annual Review, results for the Annual Awards are unbiased and determined by our independent research. Broker Awards are bestowed based on excellence in categories considered important to U.S. investors and traders.
Testing devices
All testing is conducted on the devices listed below, using a hardwired Internet connection. Mobile device testing is conducted using an 802.11n wireless WiFi connection; 4G and 5G connections are used when WiFi is not available. Unless noted, all websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Smartphone (Apple): iPhone 13 Pro.
Desktop: Dell XPS 8930 desktop with three ASUS 27″ LED Monitors, Intel Core i7-8700 Processor at 3.2 GHz, Nvidia GeForce GTX 1070, and 16 GB RAM. Windows 11 Pro operating system.
Laptop: MacBook Air 13-inch, Apple M2, 8 GB RAM, 245 GB storage running macOS Sequoia version 15.1.
Review Categories
For the StockBrokers.com 2025 Annual Awards, 16 U.S. stock brokers were reviewed and assessed on over 200 different variables across seven key categories: Range of Investments, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall.
Visit the StockBrokers.com 2025 Annual Awards page to see all 2025 results across all Awards categories.
Overall Score Calculation
Each of the core categories listed above contribute to the Overall score for each broker. The weightings for each Annual Awards scoring category are as follows:
| Review Category | Weighting |
| Ease of Use | 35% |
| Education | 5% |
| Mobile Trading Apps | 25% |
| Platforms & Tools | 5% |
| Range of Investments | 15% |
| Research | 15% |
Category Scoring Methodology
While most categories are scored using our default method of combining Yes / No points (Variable score) with a 1 - 10 Net Promoter Score (Opinion score), scoring does vary, as shown below.
- Ease of Use - Opinion only
- Education - Yes/No with Opinion
- Mobile Trading - Yes/No with Opinion
- Platforms & Tools - Yes/No with Opinion
- Range of Investments - Yes/No only
- Research - Yes/No with Opinion
Each individual category score is also translated into a star rating:
- 95% - 100% = 5 Stars
- 85% - 94.99% = 4.5 Stars
- 75% - 84.99% = 4 Stars
- 65% - 74.99% = 3.5 Stars
- 55% - 64.99% = 3 Stars
- 45% - 54.99% = 2.5 Stars
- 35% - 44.99% = 2 Stars
- 25% - 34.99% = 1.5 Stars
- 15% - 24.99% = 1 Stars
- 5% - 14.99% = 0.5 Stars
- 0% - 4.99% = 0 Stars
How we score
Ratings and rankings at StockBrokers.com use a scoring system based on binary, Yes/No inputs pulled from our database of hand-audited variables combined with carefully calibrated Opinion Scores from our in-house experts.
First, points are awarded for each “Yes” answer. The number of points awarded for each "Yes" varies by variable depending on its significance. Next, the total points earned from “Yes” answers is divided by the total points possible to calculate a final Yes/No score, also known as a Variable score.
Example: Broker XYZ has 49 of 57 features for category Platform and Tools and earns 73 out of a possible 79 total points (remember, points allotted to each individual variable varies). Thus, Broker XYZ earns a Variable score of 92.41% for category Platform and Tools.
Next, the editorial team gives an opinion score to each broker for the category. Opinion scores range from 1 – 10, with one being “very bad” and ten being “very good”. Half points are used, e.g. "9.5", so scoring isn't restricted to just whole numbers. Note: While the editorial team does take into consideration the Variable score, the Opinion score is more focused on the editorial view of how well the broker performs overall as compared to the industry standard and its closest competitors.
Example: Broker XYZ does a great job with its Mobile offering, exceeding the industry standard. Not only are a variety of tools and research available, but they are rich with depth and also easy to use. The editorial team awards Broker XYZ a score of "9" for its Opinion score, which equates to 90%.
Finally, to determine a final percentage score for the category, the Variable score and Opinion score are independently weighted and added together. This score is then also translated to a star rating. Weightings vary by category depending on the complexity of the category, e.g. 70% Variable, 30% Opinion.
Example: Broker XYZ earned a Variable score of 93.33% and a Opinion score of 100%. For category Research, the Variable score is 60% of the total and the Opinion score is 40%. Thus, Broker XYZ earns a final score of 96% for Research, which is calculated as "(0.9333*.6)+(1*.4)". Translated into a star rating, Broker XYZ earns 5 Stars for Research.
Customer Service
For the past ten years, StockBrokers.com has partnered with customer experience research group Confero to conduct phone tests from locations across the United States.
Confero agents used one of 10 unique scenario templates provided by StockBrokers.com (on average, three questions are asked) to assess each broker. To ensure fairness as well as to gather the highest quality data, each agent used a single template to test all brokers.
To score each test, three separate buckets are assessed: 1. Time to connect 2. The ability of each broker representative to professionally (and thoroughly) answer each question and 3. A Net Promoter Score for the overall support experience. Response times are 15% of each test score, representative assessments are 35%, and Net Promoter Scores make up the remaining 50%.
Once all individual test scores were compiled, they were combined to determine an overall score for Customer Service. This final score is then also translated to a star rating.
Variables
We hand-collect and collaborate directly with the industry to audit data across more than 200 variables in our coverage of the best online brokers. These variables may or may not be included in our annual scoring methodology. Click below to see all of the variables in our independent database.
Banking
| Feature | |
|---|---|
| Bank (Member FDIC) | Operates a regulated bank as a registered member of the FDIC (Federal Deposit Insurance Corporation) - fdic.gov. |
| Checking Accounts | Offers formal checking accounts and checking services. To qualify, checking services must be marketed on the website as a client service. Basic checking through the clearing firm does not count. |
| Credit Cards | Offers credit cards. |
| Debit Cards | Offers debit cards as part of a formal banking service. |
| Mortgage Loans | Offers mortgage loans. |
| Savings Accounts | Offers savings accounts. |
Customer Service
| Feature | |
|---|---|
| 24/7 Support | Is customer service offered 24 hours, 7 days a week? |
| Email Support | Email support for clients. |
| Live Chat (Current Customers) | Live chat support for current customers. |
| Live Chat (Prospect Customers) | Live chat support for prospective customers. |
| Phone Support (Current Customers) | Offers phone support for current customers (includes click to call back). |
| Phone Support (Prospect Customers) | Offers phone support for prospective customers. |
Education
| Feature | |
|---|---|
| Education (Bonds) | Provides a minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being bonds (fixed income). All content must be easily found within the website's Learning Center. Platform tutorials, FAQs, etc do NOT count. |
| Education (ETFs) | Provides a minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being ETFs. All content must be easily found within the website's Learning Center. Platform tutorials, FAQs, etc do NOT count. |
| Education (Mutual Funds) | Provides a minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being mutual funds. All content must be easily found within the website's Learning Center. Platform tutorials, FAQs, etc do NOT count. |
| Education (Options) | Provides a minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being options. All content must be easily found within the website's Learning Center. Platform tutorials, FAQs, etc do NOT count. |
| Education (Retirement) | Provides a minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being retirement. Platform tutorials, FAQs, etc do NOT count. |
| Education (Stocks) | Provides a minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being stocks. All content must be easily found within the website's Learning Center. Platform tutorials, FAQs, etc do NOT count. |
| Interactive Learning - Quizzes | Quizzes offered within the education center. Must include multiple questions and score results. Example service provider - Morningstar Investing Classroom. |
| Investor Dictionary | An online dictionary of at least 50 investing terms. |
| Progress Tracking | Clients can track their progress and see which articles and/or videos they've completed to date. |
| Retirement Calculator | Offers a retirement calculator. |
| Videos | Provides at least 10 educational videos. A video is a short clip, typically several minutes in duration, that explains a trading concept, term, or strategy. Archived webinars and platform demos do NOT count. |
| Webinars | Provides educational client webinars through the web, at least one per month. |
| Webinars (Archived) | Provides an archived area to search and watch previously recorded client webinars. |
Fees
| Feature | |
|---|---|
| Account Transfer Out (Full) | Fee for a full account transfer (ACAT) of cash or securities to another brokerage. |
| Account Transfer Out (Partial) | Fee for a partial account transfer (ACAT) of cash or securities to another brokerage. |
| Bond Trade Fee | Fee for buying or selling a bond. |
| Broker Assisted Trade Fee | Fee for executing a broker assisted trade. |
| ETF Trade Fee | Fee for buying or selling shares of an ETF. |
| Futures (Per Contract) | Per contract fee for trading futures. |
| IRA Annual Fee | Annual fee for an Individual Retirement Account (IRA). |
| IRA Closure Fee | Fee assessed for closing an Individual Retirement Account (IRA). |
| Minimum Deposit | Minimum amount required to open a new account. |
| Mutual Fund Trade Fee | Fee for buying or selling a mutual fund. |
| Options Assignment Fee | Fee charged for option assignment. |
| Options Exercise Fee | Fee charged for exercising an option. |
| Options (Per Contract) | Per contract fee for buying or selling options. |
| Order Liquidity Rebates | Offers an optional commissions structure for professionals which grants the trader full control of the order routing to market centers, thus enabling maker/taker liquidity rebates. |
| Penny Stock Fees (OTC) | The fee to trade penny stocks over-the-counter (OTC). |
| Platform Fee (Monthly) | The monthly fee charged for the flagship platform. |
| Stock Trades | Fee to buy or sell shares of stock. |
| Treasury Trade Fee | Fee for buying or selling a treasury bond. |
Margin rates
| Feature |
|---|
| Margin Rate Under $25,000 |
| Margin Rate $25,000 to $49,999.99 |
| Margin Rate $50,000 to $99,999.99 |
| Margin Rate $100,000 to $249,999.99 |
| Margin Rate $250,000 to $499,999.99 |
| Margin Rate $500,000 to $999,999.99 |
| Margin Rate Above $1,000,000 |
Mobile Trading Apps
| Feature | |
|---|---|
| Apple Watch App | Offers a downloadable Apple Watch app through the iOS app store. |
| Android App | An Android smartphone app available in the Google Play store. |
| iPhone App | Offers a downloadable iPhone app through the iOS app store. |
| Charting - After-Hours | Stock charts in mobile app display after-hours trade activity. |
| Charting - Can Turn Horizontally | Ability to rotate the smartphone while viewing a stock chart to see it in horizontal mode or vertical mode. |
| Charting - Multiple Time Frames | Adjust the time frame while viewing a stock chart in the mobile app. Examples: 1m, 5m, 1hr, daily, weekly, monthly. |
| Charting - Technical Studies | How many technical studies / indicators are available to add to a stock chart in the mobile app. |
| Charting - Study Customizations | Customize technical indicators / studies within the mobile app. Examples: range, color, type. |
| Charting - Stock Comparisons | Display multiple stock charts at once for performance comparison in the mobile app. |
| Market Movers (Top Gainers) | Stocks top gainers list viewable in the mobile app. |
| Option Chains Viewable | View an option chain in the mobile app. |
| Order Ticket RT Quotes | Mobile app order ticket displays real-time quote. |
| Quotes (Real-time) | Mobile app offers real-time quote data. |
| Quotes (Streaming) | Mobile app offers streaming (or auto-refreshing) real-time stock quote results. More specifically, the quote screen must auto-refresh at least once every three seconds. |
| Stock Alerts | Can set basic stocks alerts for individual stocks. For example, send a price alerts when stock XYZ hits price $x. |
| Stream Live TV | Stream live TV in the mobile app. Examples - CNBC, Bloomberg. |
| Third-Party Ratings | Third-party research ratings viewable in the mobile app. These can be either research providers such as Morningstar or specific analyst group recommendations. |
| Trading - After-Hours | After-hours trading supported in the mobile app. |
| Trading - Stocks | Stocks trades supported in the mobile app. |
| Order Ticket SRT Quotes | Mobile app order ticket displays streaming real-time quote. |
| Trading - Complex Options | Multi-legged option trades supported in the mobile app. |
| Trading - Simple Options | Single-leg option trades supported in the mobile app. |
| Videos on Demand | View archived stock news from the web. Example service providers: Bloomberg, CNBC. |
| Watch List (Real-time) | Watch list in mobile app uses real-time quotes. |
| Watch List (Streaming) | Watch list in mobile app uses streaming real-time quotes. More specifically, the watch-list must auto-refresh at least once every three seconds. |
| Watch Lists - Column Customization | Can customize data fields displayed in the mobile app watch list tool. |
| Watch List - Column Filtering | Ability to custom filter a mobile watch list by clicking any of the individual columns. Filtering by name (alphabetically) only does NOT count. Must include filtering by % gain/loss column, $ gain/loss column, or similar. |
| Watch Lists - Create & Manage | Can create and manage (delete, rename) watch lists in the mobile app. |
Platforms & Tools
| Feature | |
|---|---|
| Active Trading Platform | The flagship trading platform. |
| Charting - Adjust Trades on Chart | The ability to see an open order - limit, stop, or similar - on a stock chart then click and drag to adjust its execution price. |
| Charting - Automated Analysis | Can show or hide automated technical analysis (patterns) on a chart. Service provider example: Trading Central (Recognia). |
| Charting - Corporate Events | Can show or hide multiple corporate events on a stock chart. Examples: dividends, earnings, splits, news. |
| Charting - Custom Date Range | The ability to select a user-defined start and end date for individual stock charts, e.g. 06/05/24 - 07/19/24. |
| Charting - Custom Studies | The ability to create a custom indicator / study from scratch using code and have it display on a chart. Editing a default indicator / study does not count. |
| Charting - Custom Time Bars | Ability to set a custom time interval for each bar. For example, instead of using traditional 5m bars, have 3m bars, 2m bars, or 17m bars. Instead of a daily chart, set a 6 day bar, 2d bar, or similar. |
| Charting - Drawing Tools | The number of drawing tools available for analyzing a stock chart. Examples include: pointer, trendline, arrow, note. |
| Charting - Historical Trades | The ability to see past buy and sells, typically marked with a buy or sell symbol, on the stock chart. |
| Charting - Index Overlays | Adding an index (S&P 500 or similar) overlay to a stock chart. |
| Charting - Indicators / Studies | The total number of indicators / studies available to be included on a stock chart. Examples: SMA, MACD, RSI. |
| Charting - Notes | Add notes to any stock chart. |
| Charting - Save Profiles | Ability to modify a stock chart then save the marked up chart as a custom profile. For example, a two-year daily chart with a 50 SMA, MACD, and average daily volume bars below. |
| Charting - Stock Overlays | Adding a stock (AAPL, MSFT, etc) overlay to a stock chart. |
| Charting - Study Customizations | The number of customizations possible for the SMA indicator / study. Examples: length, color, style. |
| Desktop Trading Platform | A downloadable Windows- or Mac-based desktop trading platform. |
| Desktop Platform (Mac) | Offers an OSX compatible downloadable trading platform (not browser-based or through a windows emulator, e.g., Parallels). |
| Ladder Trading | A ladder tool provides active trading clients the ability to one click buy and sell equities off a real-time streaming window of fanned bids and asks. |
| Level 2 Quotes - Stocks | Level II stock quotes available. |
| Option Analysis - P&L Charts | When analyzing a theoretical option trade, a P&L chart is available. |
| Option Chains - Basic View | A basic option chain displaying calls and puts. |
| Option Chains - Greeks | When viewing an option chain, the total number of greeks that are available to be viewed as optional columns. Greeks = delta, gamma, theta, vega, rho. |
| Option Chains - Quick Analysis | The ability to jump straight from the option chain to a P&L chart or probability chart for deeper analysis. Viewing a summary P&L within the chain itself also qualifies. |
| Option Chains - Strategy View | A basic option chain filtered by option strategy. Examples: calls, puts, butterfly, calendar. |
| Option Chains - Streaming | Option chains with streaming real-time data. |
| Option Chains - Total Columns | Option chains total available columns for display. Duplicates do not count. |
| Option Positions - Greeks | View at least two different greeks for a currently open option position. |
| Option Positions - Greeks Streaming | View at least two different greeks for a currently open option position and have their values stream with real-time data. |
| Option Positions - Adv Analysis | Ability to analyze an active option position and change at least two of the three following conditions - date, stock price, volatility - and assess what happens to the value of the position. |
| Option Positions - Rolling | Ability to pre-populate a trade ticket and seamlessly roll an option position to the next relative expiration. |
| Option Positions - Grouping | Ability to group current option positions by the underlying strategy: covered call, vertical, etc. Can be done manually by user or automatically by the platform. |
| Option Probability Analysis | A basic probability calculator. |
| Option Probability Analysis Adv | A tool to analyze a hypothetical option position. Displays a probability histogram / chart with optional customizations. |
| Short Locator | Tool that allows customers to view the current real-time availability of shares available to short by security. |
| Streaming Time & Sales | Streaming time & sales for any equity viewable. |
| Streaming TV | Offers live TV. Examples - CNBC, Bloomberg. |
| Trade Hotkeys | Ability to designate keyboard hotkeys for on the fly trading. |
| Trade Ideas - Backtesting | A tool that backtests different investment strategies, typically focused on technical events, and displays the results. Example service providers: Trade-Ideas, Trading Central (Recognia). |
| Trade Ideas - Backtesting Adv | A fully customizable, advanced backtesting tool provided by the broker directly. Third-party providers do not count. |
| Trade Ideas - Technical Analysis | A tool that generates stock trade ideas based off of technical analysis. Service provider example: Trading Central (Recognia). |
| Trade Journal | Provides a trade journal for writing notes. All entries are dated, titled, and may be tagged with a specific stock ticker. Adding text notes to individual stock charts does NOT count. |
| Paper Trading | Offers the ability to use a paper (practice) portfolio to place trades. |
| Watch Lists - Total Fields | Total available fields when viewing a watch list. Examples: price, symbol, bid, ask, volume. |
| Web Trading Platform | Offers a web (browser) based trading platform. |
Range of Investments
| Feature | |
|---|---|
| Advisor Services | Offers formal investment advisory services. |
| Bonds (Corporate) | Offers corporate bonds trading via the website, mobile app, or trading platform. Phone orders do not count. |
| Bonds (Municipal) | Offers municipal bonds trading via the website, mobile app, or trading platform. Phone orders do not count. |
| Bonds (US Treasury) | Offers US treasury bonds trading via the website, mobile app, or trading platform. Phone orders do not count. |
| CDs | Offers certificates of deposit (CDs). |
| Clearing Firm | The broker's clearing firm. |
| Complex Options Max Legs | The max number of individual legs supported when trading options (0 - 4). For example, Iron Condor has four total legs. |
| Crypto Trading | Offers cryptocurrency trading. |
| Crypto Trading - Total Coins | Total number of individual coins offered, e.g., Bitcoin. |
| Direct Market Routing - Stocks | Ability to route stock orders directly to a specific exchange designated by the client. |
| DRIPs | Offers dividend reinvestment plans (DRIPs). |
| Forex Trading | Offers forex trading. |
| Fractional Shares | Customers can buy and sell less than one whole share of a stock, e.g., half a share of Apple (AAPL). |
| Futures Trading | Offers futures trading. |
| International Countries (Stocks) | Total countries, outside of the United States, that clients have access to for trading EQUITIES over the web. ADRs and phone trades do not count. For example, if customers can purchase shares of companies listed on the TSX, then Canada would be one country. |
| Margin Trading | Offers the ability to borrow money for the buying and selling of securities. |
| Member FINRA | Member of FINRA (Financial Industry Regulatory Authority) - finra.org. |
| Member SIPC | Member of SIPC (Securities Investor Protection Corporation) - sipc.org. |
| Mutual Funds | Offers mutual funds trading. |
| Mutual Funds (No Load) | Total number of No Load mutual funds offered. |
| Mutual Funds (NTF) | Total number of No Transaction Fee (NTF) mutual funds offered. |
| Mutual Funds (Total) | Total number of mutual funds offered. |
| Mutual Funds Phone Trades | Can place mutual fund trades via phone. |
| Mutual Funds Web Trades | Can place mutual fund trades via the website or platform. |
| Options Trading | Offers options trading. |
| Order Type - After Hours | Trading during pre and post market hours using limit orders. |
| Order Type - Broker Assisted | A broker-assisted trade over the phone. |
| Order Type - Limit | Offers order type: limit. |
| Order Type - Market | Offers order type: market. |
| Order Type - OCO | Offers order type: one cancels other (OCO). |
| Order Type - OTO | Offers order type: one triggers other (OTO). |
| Order Type - Stop | Offers order type: stop. |
| Order Type - Trailing Stop | Offers order type: trailing stop. |
| OTC Stocks | Offers OTC stocks trading. |
| Short Selling | Provides margin capabilities and ability for customers to short sell shares of stock. |
| Stock Trading | Offers stock trading. |
| ETF Trading | Offers ETF trading. |
| Custodial IRAs | Offers Custodial Individual Retirement Accounts (IRAs). |
| Inherited IRAs | Offers Inherited Individual Retirement Accounts (IRAs). |
| Rollover IRAs | Offers Rollover Individual Retirement Accounts (IRAs). |
| Roth IRAs | Offers Roth Individual Retirement Accounts (IRAs). |
| SEP IRAs | Offers SEP Individual Retirement Accounts (IRAs). |
| Spousal IRA | Offers Spousal Individual Retirement Accounts (IRAs). |
| Traditional IRAs | Offers traditional Individual Retirement Accounts (IRAs). |
| SIMPLE IRAs | Offers SIMPLE Individual Retirement Accounts (IRAs). |
| Robo Advisor | Offers a robo advisor. |
Research
| Feature | |
|---|---|
| Bond Research - Ladder Builder | Provides a tool that helps customers build and purchase a bond ladder. |
| Bond Research - Rates Overview | Customers can view a summary of the current primary US treasury bond rates, e.g. 2yr, 5yr, 7yr, 10yr, etc. |
| Bond Research - Reports | Downloadable research report available for individual bonds. Example Provider: Moody's |
| Bond Research - Yield Calculator | Basic or advanced bond yield calculator. |
| ETFs - Morningstar StyleMap | The infamous Morningstar Equity StyleMap (or equiv provider) which visually marks the ETF's investment strategy in one of nine boxes. |
| ETFs - PDF Reports | Are downloadable research reports available for the ETF SPY? Examples: Morningstar, S&P Capital IQ. |
| ETFs - Ratings | Are third party ratings available for the ETF SPY? Examples: Morningstar, Lippers. |
| ETFs - Risk Analysis | The ability to view risk metrics. This is most commonly provided as a rating and/or volatility metric. |
| ETFs - Sector Exposure | A pie chart or bullet list breakdown of the ETF's sector exposure / weightings. |
| ETFs - Strategy Overview | A written description of the fund's objective. |
| ETFs - Top 10 Holdings | A list of the ETF's top 10 holdings. |
| ETF Fund Facts - Expense Ratio | ETF expense ratio listed. |
| ETF Fund Facts - Inception Date | ETF inception date listed. |
| ETF Fund Facts - Net Assets | ETF net assets listed. |
| ETF Fund Facts - Total Holdings | ETF total holdings listed. |
| Misc - Portfolio Allocation | Displays a pie graph or bullet list breakdown of the customer's current portfolio including % allocations. Examples: domestic equities, foreign equities, bonds, cash, fixed income. |
| Mutual Funds - Asset Allocation | A pie chart or bullet list breakdown of the fund's asset allocation. |
| Mutual Funds - Country Allocation | A pie chart or bullet list breakdown of the fund's country allocation. Continent allocation also acceptable. |
| Mutual Funds - Fees Breakdown | A clear breakdown of the fund's fees beyond just the expense ratio. 12b-1, minimum investment, total fees estimate, all examples of a detailed breakdown. |
| Mutual Funds - Performance Analysis | The ability to view multi-year historical performance. |
| Mutual Funds - PDF Reports | Are downloadable research reports available for the fund VTSMX? Examples: Morningstar, S&P Capital IQ. |
| Mutual Funds - Performance Chart | Is a stock chart available of the fund VTSMX? |
| Mutual Funds - Prospectus | Access to the fund's prospectus in PDF format. |
| Mutual Funds - Sector Allocation | A pie chart or bullet list breakdown of the fund's sector allocation. |
| Mutual Funds - Strategy Overview | A written description of the fund's objective. |
| Mutual Funds - StyleMap | The infamous Morningstar StyleMap (or equiv provider) which visually marks the fund's investment strategy in one of nine boxes. |
| Mutual Funds - 3rd Party Ratings | Are 3rd party ratings available for the fund VTSMX? Examples: Morningstar, Lippers. |
| Mutual Funds - Top 10 Holdings | A list of the fund's top 10 holdings. |
| Research - Bonds | Offers bonds (fixed income) research. Can view quote results for fixed income securities such as individual US Treasuries. |
| Research - ETFs | Offers ETFs research. Can view quote results for 4 of the 5 following tickers: SPY, GLD, OIH, QID, FAZ. |
| Research - Stocks | Offers stock research. Can view quote results for 4 of the 5 following tickers: Facebook, Apple, Amazon, Netflix, Google. |
| Research - Mutual Funds | Offers mutual funds research. Can view quote results for all three of the following tickers: VTSAX, FXAIX, SWPPX. |
| Research - Pink Sheets / OTCBB | Offers pink sheet / OTCBB research. Can view quote results for 2 of the 3 following tickers: FNMA, IMBBY, TCEHY. |
| Screener - Bonds | Offers a bond screener. **Note - ETF bond screeners do NOT count. |
| Screener - ETFs | Offers an ETF screener. |
| Stock Research - Chart | Stock charts. |
| Stock Research - Earnings | View analysis of past earnings. At least one chart / graph required. Examples: Consensus vs actual data, EPS growth, sales growth. |
| Stock Research - ESG | Provides Environmental, Social, Governance (ESG) criteria scores. |
| Stock Research - Insiders | View a list of recent insider transactions. |
| Screener - Mutual Funds | Offers a mutual fund screener. |
| Stock Research - News | View a stream of recent news. |
| Stock Research - Option Chains | Option chains viewable. |
| Stock Research - SEC Filings | View a list of recent SEC filings. |
| Stock Research - Social | View social sentiment analysis, eg twitter analysis (NOT just a stream of recent tweets), for individual equities. |
| Screener - Stocks | Offers an equities screener. |
| Stock Research - PDF Reports | Total number of downloadable PDF research report providers available for equities research (using symbol AAPL). Examples: S&P Capital IQ, Thomson Reuters, Ned Davis Research. |
View StockBrokers.com's independent database of variables
Annual Awards
Based on our hands-on testing and data collection, the StockBrokers.com 2025 Annual Awards recognize brokerage firms who push the industry forward while delivering excellent value to U.S. investors.
Jessica Inskip, Director of Investor Research at StockBrokers.com, leads research, testing, and scoring for the Annual Awards.
Category Awards
Category Winners in the StockBrokers.com Annual Awards are brokers that stand out as the best of the best in our carefully curated Awards Categories. Our Awards Categories are designed to reflect the features, products, and services that matter most to investors and traders.
Click below to find a breakdown of the individual methodologies for our Category awards.
Overall
Our highest award, this selection is both data- and opinion-driven and recognizes the broker that scored the most total points across all categories: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education and Ease of Use. This broker demonstrates the highest level of client service.
Active Traders
The #1 Active Trader Award recognizes the best platform for advanced, frequent retail traders (10+ trades per month). Platforms are evaluated on the breadth of product offering, research, education and support, violation support (e.g. day trading rules), balances and positions user interfaces inclusive of tailored margin, advanced order ticket, and desktop platform functionality. We assess the overall trading experience through the lens of the active trader. .
Bank Brokerage
This award recognizes the broker that the editorial team believes provides the best value and experience for intermediate-level U.S. retail investors who want to consolidate their financial activities with one company. We take into consideration the breadth of banking services on offer and how well they are integrated with self-directed investing.
Beginners
This opinion-based award recognizes the broker that the editorial team believes provides the best investing experience for novice U.S. investors. Key criteria include educational content, ease of use, product marketing, transparency, products and features, cost, and the client dashboard.
Casual Investors
The #1 Casual Investors award recognizes the best platform for engaged investors who diversify their portfolios with stock, funds, and fixed-income products. These investors prioritize research of individual securities and broader market trends. Platforms are evaluated on tools for discovering and validating investment ideas, a holistic product offering, and resources that empower investors to expand their knowledge while managing diversified portfolios.
Customer Service
For customer service testing, StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States. Confero agents used one of 10 unique scenario templates provided by StockBrokers.com (on average, three questions are asked) to assess each broker. To ensure fairness as well as to gather the highest quality data, each agent used a single template to test all brokers.
To score each test, three separate buckets are assessed: 1. Time to connect 2. The ability of each broker representative to professionally (and thoroughly) answer each question and 3. A Net Promoter Score for the overall support experience. Response times are 15% of each test score, representative assessments are 35%, and Net Promoter Scores make up the remaining 50%.
Once all individual test scores were compiled, they were combined to determine an overall score for Customer Service.
Ease of Use
This opinion-driven award recognizes the broker that scored the most points in our analysis for Ease of Use.
Education
This data- and opinion-driven award recognizes the broker that scored the most points for the Education category, which factors in the availability and quality of articles, webinars and videos surrounding various aspects of trading and investing.
Futures Trading
This opinion-based award recognizes the broker that the editorial team believes provides the best value and experience for intermediate level U.S. retail futures traders. Key criteria include features, cost, layout, trading workflow, platform design, and platform responsiveness.
High Net Worth Investors
The High Net Worth Investors award recognizes the best broker for self-directed U.S. retail investors with investable assets of $1 million to $10 million. We prioritized the needs of intermediate level, long-term-oriented investors with portfolios that include a variety of instruments. Key criteria include consolidated reporting, integrated service model, specialist support, high net worth enhancements, financial planning tools and education, ease of use, and design.
Investor Community
This opinion-based award recognizes the broker that the editorial team believes provides the best investor community experience for U.S. retail investors. Included in the analysis are the quality and quantity of user posts and how well they are presented.
Mobile Trading Apps
This data- and opinion-driven award recognizes the broker that scored the most points in our Mobile Trading Apps category. It takes into consideration the availability and quality of watch lists, charting, real-time and streaming quotes, stock alerts, and educational resources, among other variables. We also look for a fluid user experience moving between mobile and desktop platforms, where offered.
Options Trading
This opinion-based award recognizes the broker that the editorial team believes provides the best value and experience for intermediate level U.S. retail options investors. Key criteria include features, cost, layout, trading workflow, platform design, and platform responsiveness.
Passive Investors
The #1 Passive Investor award recognizes the best platform for investors focused on long-term, hands-off wealth building. Platforms are evaluated on available investment options, automated investing experiences (e.g. robo-advisors, recurring investments, basket trading), supporting goal-based planning tools, educational resources, and research. Priority is given to platforms that simplify investing, support portfolio diversification, and offer an overall investing experience that is ideal for the passive investor.
Platforms & Tools
This data- and opinion-driven award recognizes the broker that the StockBrokers.com editorial team regards as providing the best suite of platforms and tools for U.S. retail clients.
Range of Investments
This data-driven award recognizes the broker that scored the most points for the Range of Investments category, which considers availability of instruments such as stocks, bonds, mutual funds, futures, options and cryptocurrency.
Research
This data- and opinion-driven award recognizes the broker that the StockBrokers.com editorial team regards as providing the best research and market commentary experience. Elements considered include quality and quantity of research and ease of use.
Retirement Accounts
This opinion-based award recognizes the broker that the editorial team finds to provide the best value and experience for everyday U.S. retail retirement-focused investors. This award combines features important to other categories, but emphasizes retirement account availability and costs.
Industry Awards
Industry awards are determined based on the measurable, data-driven criteria that decide our Category rankings as well as the opinion scores of our editorial team. These unique awards are designed to showcase the very best in the industry.
Click below to find a breakdown of the individual Industry Awards methodologies for broker awards.
#1 Bond Research
The Bond Research Award acknowledges the broker that the StockBrokers.com editorial team views as offering the best fixed income research resources at no additional charge to retail investors. Criteria include frequency, types of fixed income products covered, quality of research and market commentary.
#1 Bond Trading Platform
The #1 Bond Trading Platform award recognizes the best platform for retail investors focused on trading bonds. We prioritize accessibility and pricing transparency along with tools for analyzing yield, duration, and credit risk. Key criteria includes ease of use, bond inventory, search functionality, and the ability to compare offerings across different issuers and maturities.
#1 Client Dashboard
The Client Dashboard award recognizes the best homepage summary for a typical U.S. retail investor. We prioritized relevancy of information, layout, design, consolidated views, and clear labeling of key data.
#1 Desktop Trading Platform
The #1 Desktop Trading Platform award recognizes the best downloadable trading platform ("desktop") that meets the needs of sophisticated retail traders across multiple asset classes. In addition to data, tools, charting, trading workflow, usability, design, and responsiveness, we prioritized platforms that provide a comprehensive view of market activity, enabling traders to understand both macro and micro market movements effectively.
#1 Ethical Investing
Our #1 Environmental, Social, and Governance, or ESG, Investing award, which is heavily informed by the testing in our Research category, highlights the broker that provides the most comprehensive experience for socially responsible investing. We consider the availability of screening tools, third-party ratings, visual data, and other research features that help to identify ESG-related investment opportunities.
#1 Futures Trading Platform
The Futures Trading Platform award recognizes the best trading platform for futures traders. We prioritized the needs of active, intermediate level retail futures and futures options traders. Key criteria included data provided, tools, charting, trading workflow, ease of use, design, and responsiveness.
#1 Innovation
The innovation award recognizes broker achievement in pushing the industry forward. Our team tests and analyzes new tools, experiences and features that challenge industry standards and unlock new abilities for individual investors.
#1 International Trading
This industry award is primarily based on the reach of a broker’s international offering. Data is collected to determine how many international exchanges each broker allows clients to access for trading. In addition, the trading platforms themselves are assessed using criteria from the Platforms & Tools category.
#1 Investor App
The Investor App award recognizes the best mobile app for everyday passive and active long-term investors, which we define as Americans who place fewer than 36 trades each year or approximately three trades each month. Key criteria included portfolio reporting, data provided, tools, research availability, ease of use, design, and responsiveness.
#1 Margin Trading
The #1 Margin Trading award recognizes the best platform for retail investors utilizing margin to enhance their trading strategies. We prioritized competitive margin rates, risk management tools, and clear margin requirements. Other information considered includes margin rate transparency, margin calculators, real-time monitoring, intuitive display of margin positions and balances, and educational resources to help traders understand the risks and opportunities of margin trading.
#1 New Tool
Our award for #1 New Tool is partly based on data collected during our testing across all primary categories, with particular attention given to Research, Education, Platforms & Tools, Mobile Trading, and Investment Options. The award for #1 New Tool recognizes a new innovative feature or product experience launched by a broker during the previous calendar year that innovates or elevates either 1) the execution of a user intention; or, 2) the presentation of valuable information.
#1 Options Trading Platform
The Options Trading Platform award recognizes the best trading platform for options traders. We prioritized the needs of active, intermediate level retail options traders. Key criteria included data provided, tools, charting, trading workflow, ease of use, design, and responsiveness.
#1 Overall Client Experience
The Overall Client Experience award recognizes the best user experience for typical U.S. retail investors. Our testing simulates dozens of workflows for investors and traders alike. Key criteria include satisfying user intent, design, customer support, platform responsiveness, convenience, workflow, education, marketing communications, and transparency.
#1 Paper Trading Platform
The Paper Trading award is given to the broker that offers the best easy-to-use, but feature-rich, trading experience using virtual dollars.
#1 Professional Trading
The Professional Trading award recognizes the best broker for sophisticated U.S. traders who frequently execute large trades across a variety of financial instruments, such as day traders or those working for a professional institution such as a hedge fund. Key criteria include price, publicly available order execution data, investment options, tools, data, charting, trading workflow, platform reliability and responsiveness.
#1 Stock Trading Platform
The Stock Trading Platform award recognizes the best trading platform for stock traders. We prioritized the needs of active, intermediate level retail equity traders. Key criteria included data provided, tools, charting, trading workflow, ease of use, design, and responsiveness.
#1 Trader App
The Trader App award recognizes the best mobile app for active, moderately experienced retail U.S. traders. Our ranking is weighted toward customers who place at least 120 trades per year or 10 trades per month. Key criteria included data provided, tools, charting, trading workflow, ease of use, design, and responsiveness.
#1 Web Trading Platform
The Web Trading Platform award recognizes the best browser-based trading platform. We prioritized the needs of active, intermediate level retail traders using a variety of instruments. Key criteria include data provided, tools, charting, trading workflow, ease of use, design, and responsiveness.
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