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      September 28, 2020

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Best Online

Stock Brokers

  1. Firstrade
  2. Fidelity
  3. Charles Schwab
  4. E Trade
  5. Merrill Edge
  6. Trade Station
  7. Speedtrader
  8. Robinhood
  9. Sogo Trade

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Best Online Stock Brokers

Who is the Best Online Stock Broker? Whether you consider yourself an avid investor or a beginner just starting to look into the stock market, it's easy to get overwhelmed by all of the stock trading options. Although some people still use traditional stock brokers, many people have found they can save a lot of money by trading stocks themselves.

Besides significant cost savings, another great advantage to executing your own transactions is that you can avoid the time and energy necessary to deal with "professional" stock brokers. Many of these individuals try to convince you to buy or sell stocks, because they earn a commission every time you make a transaction. With online stock brokers, you never have to talk to any salesmen.

Continue reading below reviews

Best Reviews


2020

Online Stock Broker Reviews

5 stars
TD Ameritrade

TD AMERITRADETopConsumerReviews.com Best-In-Class Blue Ribbon Award

TD Ameritrade is the best online stock broker for the widest range of investors, from novice to serious traders. Three platforms - Web, Mobile, and Thinkorswim - offer a wealth of information and are easy to use. To top it off, FREE online stock and ETF trades, with no minimum account balance or purchase amount, makes it super affordable and simple to invest. TD Ameritrade is the best online stock broker on the market today.

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4.5 stars
Firstrade

FIRSTRADE

Firstrade has been around for more than 30 years, and they made the news when they announced that all online stock trades would be fee-free, with no minimum deposits or number of transactions. This online stock broker offers a fantastic amount of information to help beginner and expert stock traders alike - just be aware that they don't offer any personalized advice (automatic or with professional advisors) to guide your investment strategy.

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4.5 stars
Fidelity

FIDELITY

Fidelity just about has it all: low-cost stock trades with no minimum deposit, 24/7 customer service, and different levels of advice ranging from DIY to fully-managed. While this online stock broker may not be the ideal fit for active traders, Fidelity is an excellent choice for investors who want a well-established company with a terrific reputation and helpful, easy-to-use tools for selecting and managing stocks and other investments.

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4 stars
Charles Schwab

CHARLES SCHWAB

Charles Schwab is a trusted name for investments, operating as a full-service stock broker both online and in local branches throughout the US. Many people turn to Schwab because of their unique 100% satisfaction guarantee, despite the brokerage's higher-than-most minimum deposit of $1000.

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3.5 stars
E Trade

E TRADE

E*TRADE was the first online stock broker to execute an e(lectronic) trade more than 3 decades ago. They still offer good customer service and an easy-to-use platform, but other similar brokers allow you the same access to the stock market for lower fees.

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3.5 stars
Merrill Edge

MERRILL EDGE

Merrill Edge is a good choice for current Bank of America customers, because of the seamless transitions between accounts and easy use of a single login. Their online tools are helpful and simple to understand. Some clients have expressed frustration with Merrill Edge customer representatives, and with the time that it takes to get updates when making trades.

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3.5 stars
Trade Station

TRADE STATION

Another platform best suited for active traders, TradeStation offers stocks, penny stocks, options, ETFs, Mutual Funds, Bonds, and Futures. Their analysis software and trading platform are geared towards institutional traders and active trader individuals, and not as much for individuals who are looking for the occasional stock trade.

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3 stars
Speedtrader

SPEEDTRADER

SpeedTrader, as the name suggests, is the only online stock broker in our review that is geared strictly towards active day traders. If that's you, and you're starting out with at least $30,000, this platform may be the one that best meets your needs. Otherwise, if you're more of an occasional investor like most people, you'll probably be more satisfied with the other brokerages in our review.

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3 stars
Robinhood

ROBINHOOD

Robinhood came into the spotlight as a fee-free online stock broker geared towards Millennials: evidenced by their primarily app-based platform and being one of the only companies offering cryptocurrency investment options. Drawbacks include limited investment account types (no IRAs or 401(k)s) and a lack of research tools for determining which stocks to buy/sell.

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2.5 stars
Sogo Trade

SOGO TRADE

SogoTrade has been known for offering a bargain stock trading experience, cutting the bells and whistles in exchange for lower-priced trades. But, with most online stock brokers now offering reduced fees and giving investors a wide range of tools as well, SogoTrade comes out looking cheap and less professional.

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Continued from above

And, of course, with fluctuations in the economy, and subsequent rises and falls in stock prices, some people panic and pull out significant investments - leaving the door wide open for others to take advantage of big opportunities to buy low and hopefully sell high later.

Of course, the best online stock brokers do have the option to work with a consultant if you choose. Especially if you're just starting to learn about investments, you may feel more comfortable knowing you can access an expert if the need arises. These services may be included, or you may have to pay for them a la carte.

So, when choosing the right online stock broker for your needs, how do you know which one is best? Before you jump in and start buying up your shares in Apple or Coca-Cola, here are some factors to keep in mind:

  • Information. From beginners to experts, having up-to-date information on the stock market is critical. What resources does the online stock broker have available to guide you in your decision-making?
  • Fees. When purchasing your stocks, will you be charged a percentage of your total buy or a flat fee? When the time comes to sell, what will you pay?
  • Reputation. What do other investors say about their experience buying and selling with the online stock broker? Have they had positive interactions with the broker when they've needed help? How many investors have chosen this particular broker's services?

TopConsumerReviews.com has reviewed and ranked the best online stock brokers available today. We hope this information helps you choose the right broker for your stock buying and trading needs!

Stock futures rise in overnight trading following a 4-week losing streak

Stock futures climbed in overnight trading on Sunday following a four-week losing streak on Wall Street.Futures on the Dow Jones Industrial Average rose about 100 points. The S&P 500 futures gained 0.

Published:  Sun, 27 Sep 2020 15:08:13 GMT



Wells Fargo stock paces for worst year, but it's too soon to buy, trader says

With Baird naming Wells Fargo a bullish fresh pick, two traders assess the prospects from one of Wall Street's worst-performing stocks.

Published:  Fri, 25 Sep 2020 08:56:00 GMT



Dillard's Stock Could Soar on Buybacks and a Short Squeeze

Dillard's stock is down nearly 60% year to date, even though the impact of the pandemic on earnings faded quickly. It could bounce back soon, though.

Published:  Sun, 27 Sep 2020 11:10:00 GMT



Costco Earnings Were Really Good. Here's Why the Stock Is Falling.

Costco Wholesale stock was falling in after-hours trading Thursday, despite a strong fiscal fourth-quarter earnings report. Blame high expectations and pandemic-related costs, but don't worry too much ...

Published:  Fri, 25 Sep 2020 05:09:00 GMT



Apple Stock This Week: A Rebound At Last

Apple has finally found some strength, erasing in a few days nearly all the losses from the prior week. Here is a recap of how shares have performed, and what drove them higher this time.

Published:  Sat, 26 Sep 2020 04:14:00 GMT



Gold-Stock Seasonal Plunge

Gold stocks are still correcting after soaring to seriously-overbought levels when their last upleg peaked in early August.  Weak seasonals in the next month could accelerate that.

Published:  Sat, 26 Sep 2020 03:37:00 GMT



Etsy Stock Looks Like a Bargain Now So Buy While It's Cheap

ETSY stock looks like a bargain now so buy while it's cheap. ETSY stock could gain 32% annually over the next several years as e-commerce picks up and its FCF and valuation grow.

Published:  Sat, 26 Sep 2020 15:38:00 GMT



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