New to stock trading or looking to see what else is out there? There are currently a great deal of stock brokers to choose from. Which stock broker is the best?
Investing is an industry where you want size and experience on your side. Established brokers and investment firms have a solid foundation, have amassed a sizable client base, and have the financial backing to provide the best tools and services.
Another important criteria for those new to investing is what markets are supported by which broker. Markets include Equities (i.e. commonly known stocks like Apple, Google, Facebook…), Futures (e.g. Gold, Oil, Sugar…), Forex (i.e. currency pairs like USD/JPY and EUR/USD), and Options (i.e. Option contracts on common Equities). The ones that are commonly not supported are Futures or Forex, or both. You can trade Equities like your favorite blue chip stocks with all the major brokerages, so that won’t be an issue if you just want to get your hands on some shares of Apple (APPL), Microsoft (MSFT), etc.
While there is no one best stock broker for everyone, there are a handful we strongly recommend you choosing from.
Let’s go through all the talking points below and find out which brokerage is best for your needs.
*See a list of all brokerage bonuses and promotions here
Best Overall Online Brokerage Picks
Here are the most versatile brokers that have a proven track record for fulfilling the needs of most investors.
| TD Ameritrade | J.P. Morgan Self-Directed |
|---|---|
| Trade Commission: $0 | Trade Commission: $0 |
| Account Minimum: $0 | Account Minimum: $0 |
| Sign-Up Bonus: See here | Sign-Up Bonus: Up To $700 |
| Review | Review |
TD Ameritrade and J.P. Morgan Self-Directed are both top choices that will fit the needs of most investors.
TD Ameritrade has no commission fees on U.S. listed stocks and ETFs. Option trades are also commission-free, with a competitive per contract fee. TD Ameritrade has wide variety of investment choices built with the do-it-yourself investor in mind. In-depth research and market analysis tools are available to support all types of investment strategies. Their ThinkorSwim platform is often rated #1.
J.P. Morgan Self-Directed also offers unlimited commission-free online stock, ETF, and options trades. Options contract and other fees may apply.
Best Online Brokers For Beginners
What makes these top choices good for beginner investors?
- A large library of educational resources to get you up and running
- No commission fees
- Great customer support available 24/7
- Large number of commission-free ETFs
| TD Ameritrade | Charles Schwab |
|---|---|
| Trade Commission: $0 | Trade Commission: $0 |
| Account Minimum: $0 | Account Minimum: $0 |
| Sign-Up Bonus: See here | Sign-Up Bonus: Up to $500 |
| Review | Review |
Just as TD Ameritrade’s customer service is praise by clients, so is Charles Schwab’s. Both of these brokers also have an enhanced database full of step-by-step educational material.
TD Ameritrade and Charles Schwab have merged and are now part of one company. There is still a transition period with the merger still in process.
Neither TD Ameritrade or Charles Schwab charge account maintenance or inactivity fees, making them good choices for new investors looking to get their feet wet. Both also provide ETFs and mutual funds, which are popular with beginner investors due to the diversification nature of these products.
Best Brokers For Investment Market Selection
Whether you currently dab into a variety of markets, or plan to gain some experience with each, you need to know that not all brokerages support all the main markets (Stocks, Forex, Futures, Options and Mutual Funds).
Some new traders jump in and open an account with a brokerage recommended by a colleague or one seen in an ad, only to find out that Futures or Forex trading isn’t available to them. Even several well-known brokers don’t support all markets.
| TD Ameritrade | E*Trade |
|---|---|
| Trade Commission: $0 | Trade Commission: $0 |
| Account Minimum: $0 | Account Minimum: $0 |
| Sign-Up Bonus: See here | Sign-Up Bonus: $3,500 bonus cash |
| Review | Review |
You’ll be able to trade Stocks, Options, Mutual Funds, Futures and Forex with both TD Ameritrade and E*Trade.
Best Online Brokers For Research
Here are two of the best brokers with professional Research tools, which will help to analyze Stocks and markets with data from financial records, economic reports, company assets, market share etc.
Over time, investors find their own method of evaluating SEC filings, trade magazines, online reviews and company news to know more about a company or market. A brokerage that offers streamlined Research to give you a better understanding of your potential investment will save you valuable time.
| Fidelity | Merrill Edge |
|---|---|
| Trade Commission: $0 | Trade Commission: $0 |
| Account Minimum: $0 | Account Minimum: $0 |
| Sign-Up Bonus: See here | Sign-Up Bonus: See here |
| Review | Review |
Both Fidelity and Merrill Edge provide top-notch Research capabilities for your stock analysis needs. Fidelity is one of the best in the business and has research from more than 20 providers to help narrow down quality recommendations. Merrill Edge, a Bank of America corporation, has Research from it’s own BofA Merrill Lynch Global Research as well as well-known providers like Morningstar, Lipper, S&P Capital IQ and Recognia.
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