Online investment brokers need to know about the best online stock broker to open an online stock trading with. Some of the online stock brokers we are reviewing are best known for their award-winning customer service while some are well known for their inexpensive stock trades and powerful trading tools. This article will look into some of the top low-cost online stock brokers that are well suited for active online investment brokers. The list has been sorted from the lowest commission fee to the highest fee online trading platforms and exchange-traded fund (ETF) trades.
ETF is an investment fund traded on stock exchanges, much like stocks. Exchange-traded fund combines the valuation feature of a mutual fund or unit investment trust, which can be bought or sold at the end of each trading day for its net asset value, with the trading ability feature of a closed-end fund, which trades throughout the trading day at prices that may be more or less than its net asset value.
Selected Online Stock Broker with Lowest Trading Fees
A stock brokerage firm that provides services for individuals and institutions that are investing online based in Omaha, Nebraska with major trading centers in Southlake, Texas and St Louis, Missouri. They offer an electronic trading platform for the purchase and sale of financial securities including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed income investments. It also provides margin lending, and cash management services.
TD Ameritrade will give you access to videos, webcasts, and articles on popular investing and trading topics for all levels of experience. Onboarding resources for trading platforms, such as the thinkorswim thinkManual and Learning Center, help you to begin trading right away. A their platforms come with the backing of value, support, and knowledge giving you more than just a technical edge.
The stock brokerage firm apps gives online stock broker the power to monitor the market, research investment ideas, and trade everything from stocks to options wherever you are. You can take your trading to the next level.
- Trade stocks, ETFs, multi-leg options, futures, options on futures, and forex
- Use real market data to test your theories and strategies at no cost with paperMoney®
- View customizable, multi-touch charts with hundreds of technical indicators
- Live text and share your screen with a trading specialist to get help on the spot
- Watch streaming CNBC and International CNBC
- Dynamically sync market scans in real-time from your desktop to your tablet
- Optimized for iPad®, iPhone®, Apple WatchTM, Android smartphones, and tablets
The mobile app will also give online stock broker everything needed to manage their account and place trades
- Analyze trends, discover which stocks are most active, and access market-driving news
- Monitor your positions and orders
- View real-time streaming quotes
- Access charts to conduct technical analysis
- Transfer cash to/from other accounts (other TD Ameritrade accounts or other firms)
- Free, convenient check deposits up to $10,000
- Optimized for iPad®, iPhone®, Apple WatchTM, Android smartphones, and tablets
This is a stock brokerage firm designed for the online stock broker that is leading with example. The stock broker firm has distinguishes itself from the competition with different unique tools, as well as its ability to continuously innovate and focus on ease of use. optionsXpress has its pros and cons as far as commissions go. Getting the negatives out of the way, its options structure is hardly ideal for casual investors.
The stock brokerage firm charges $1.50 per contract if there are less than 35 options trades per quarter, with a $14.95 minimum. Otherwise, it is only $1.25 per contract with a $12.95 minimum. As far as ease-of-use is concerned, optionsXpress has clients covered. The broker’s all-in-one trade ticket is the best available anywhere, the site design is clean, and optionsXpress is the only broker to organize all site tools by experience level and type on one page.
OptionsXpress offers what they call “Walk Limit” order types for options. To prevent adjusting limit orders as they sit live, optionsXpress will “walk” your order to try to get the most favorable price within the National Best Bid or Offer (NBBO). optionsXpress’s flagship platform, Xtend, is offered in both desktop form and as individual tools on the website itself. Overall, the desktop version of Xtend is just okay.
While it was very visually appealing, we found it to be sluggish speed-wise, and the charting was difficult to use, not to mention much weaker than charting available elsewhere. Another aspect of the Xtend desktop platform we did not particularly care for was the layout, which forces preset sizes and limited numbers of windows. Read more
This is another online stock broker platform best known for its value driven customer experience of regular stock trades are just $4.95 each and Fidelity was rated #1 for order execution quality, which drives down trading costs even further. Like its closest stock brokerage firm, Fidelity uses a simple, flat-fee trading commission structure. Stock trades are $4.95, and options trades run at $4.95 plus $.65 per contract, which are less expensive rates than those offered by others.
The stock brokerage firm offers 12,505 mutual funds, of which just over 4,000 are No Transaction Fee (NTF) funds. Regular mutual fund trades cost $49.95 to buy, $0 to sell. Unlike most brokers, Fidelity and Charles Schwab charge only for the original purchase. There is no additional charge for redemption (i.e., selling).
Fidelity’s leadership in research also extends to overall market research with Fidelity Viewpoints. Only Schwab, with its Insights articles, can go toe to toe with Fidelity’s market analysis. Overall, Fidelity offers a comprehensive research experience that is truly unmatched in the industry. With 60 variables assessed. Read more
This is another stock brokerage firm that is offering one of the most advanced desktop trading platforms in the industry. With its competitive commission rates for stocks and options trading, investors who have previous market experience will find themselves right at home. TradeStation’s target customers are traders that seek highly-customizable trading tools and low costs.
TradeStation’s most commonly used pricing structure, flat-fee trades, equities trades cost $5 and options trades cost $5 + $0.50 per contract. One quick note on the free basic real-time market data; it includes everything most investors will want, all major securities, e.g., DIS, APPL, FB, etc. alongside OTCBB, but it does not include all the indices.
The stock brokerage firm offers 2 platforms for online stock broker: Web Trading, which is a browser-based platform designed for investors seeking simplicity, and TradeStation 10, also known as the New TradeStation, which is a desktop platform and the company’s flagship product. TradeStation 10 or New TradeStation is a desktop platform that encompasses everything an active trader could desire, and then some. Read more
This stock brokerage firm offers web based trading on a streaming HTML 5 platform. Their dynamic trading experience means online stock broker can manage their accounts, access their portfolios and make trades seamlessly across multiple devices. They can also access your account with mobile and tablet apps for iPhone and Android.
Ally Invest who is managing TradeKing is a member of the Securities Investor Protection Corporation (SIPC), which covers customer claims up to $500,000, including a maximum of $250,000 for cash claims. While SIPC protects your funds in the case that Ally Invest fails, it does not protect against investment losses from the market.
You can Select Your Investment Approach
Self-Directed Trading: For investors who want to manage their own investments, a variety of competitively-priced products with no account opening minimum. Start trading for just $4.95 per trade.
Ally Invest Managed Portfolios: Diversified, automated portfolios with oversight by professional investment managers. Get started with just $2,500.