Online stock broker ratings
In addition, our second annual forex brokers review, which includes over 43 FX brokers, will be published on our sister site, ForexBrokers. Then read a full-length review and compare your favorites side by side, using the comparison tool to finalize your selection. Since our inception back in , StockBrokers. While the markets are anything but certain, you can feel confident StockBrokers. Each category winner is displayed below its respective section label.
Click on a category name to view all five winners and read additional commentary. Each year online brokers stand out for going "above and beyond" in the areas that matter most to customers. To recognize these brokers, we distribute industry awards. Here are the winners. Online Broker Rankings In total, 3, data points were gathered to rate and rank online brokers. To determine an Overall winner for self-directed investing, we weighted each category as follows: Fellow Investors, Over the past six months, I have once again had the honor of leading research for our eighth annual StockBrokers.
Offering of Investments Interactive Brokers. Order Execution Fidelity Investments. Customer Service When picking up the phone or emailing a broker, is a well trained customer service representative ready to assist?
How any investor is treated as a client is more important to some than others. Trading Tools Trading successfully is a lot easier when investors have great tools at their disposal. A top stock broker should offer access to a wide variety of trade tools to help make the most of each and every trade. From real-time streaming quotes to last sale tickers, quality stock scanners, mobile trading apps, and level II quotes to name a few.
Strong tools are essential for active investors. Account Minimums Some brokers allow you to open an account with no minimum deposit while others may require several thousand dollars. Also know that some brokers require higher minimums to gain access to premium platforms, functionality, and personalized support. Market Research A good online broker will provide a variety of market research tools.
The rule of thumb here is simple: Investment Options A online stock broker should offer access to not only trading stocks, but also a strong selection of no load mutual funds, commission free ETFs, and complex options. Other unique investment offerings to look for could include direct market routing, conditional orders, futures trading, and forex trading.
Other Fees Fees beyond trade commissions include inactivity fees common with active trading brokers such as Interactive Brokers, Lightspeed, and TradeStation and IRA fees for having a retirement account. Just like a bank account, stock brokers also make a portion of their profits off miscellaneous fees. There is no reason why you should pay an annual fee to have an retirement account. If managing your own portfolio is not of interest, all full-service brokers offer optional advisory services as well.
Furthermore, robo-advisors such as Betterment are growing in popularity. Once again, the experience at larger established brokers is going to be superior to smaller brokers. Banking Larger online brokers offer banking and other financial services. This goes beyond money market accounts and CDs. Checking accounts, mortgages, debit cards, and credit cards can also be offered.
The leader in this space is, hands down, Bank of America Merrill Edge. Account Security Because of the web today, all online brokers invest heavily into account security. Just like shopping online and choosing a trustworthy website to purchase from, the best bet is to choose a well-known, established broker for your portfolio.