Schwab has been a leader in the online discount brokerage industry for many years, offering a large selection of account types, investment advisory services, cash management tools, and more. Schwab also provides access to foreign stocks on multiple international exchanges, along with valuable services like branch locations, small business 401(k) plans, and wealth management.
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Review: Charles Schwab review.
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Fidelity offers a broad range of financial services, including annuities, health savings accounts, self-directed and advisory accounts, life insurance, direct indexing, 529 college savings plans, and more. As one of the most renowned fund managers globally, Fidelity provides over 300 mutual funds and more than 50 exchange-traded funds, along with options, stocks, bonds, and IPOs.
Review: Fidelity review.
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Firstrade caters to Chinese-speaking investors by offering customer service in Chinese, both over the phone and online, and accepts applications from major Chinese-speaking regions and beyond. Firstrade provides commission-free trading across various securities, including over 11,000 mutual funds, with no fees on options except for exchange and regulatory costs. It also offers user-friendly trading tools for investors at all levels.
Promotion: $250 ACAT rebate and $0 commission trades.
Review: Firstrade review.
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Webull stands out by offering both securities and cryptocurrency trading on its mobile app, browser platform, and desktop program. Features like fractional-share and fractional-coin trading, zero per-contract fees on options, and no exercise or assignment fees make it an attractive choice for traders. Webull also offers extensive research tools and recently added treasury bonds and futures to its offerings.
Promotion:
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M1 Finance allows investors to create custom baskets of securities called Pies, with no management fees, or invest in Pies designed by M1 Finance. Beyond Pie investing, M1 also offers retirement accounts, cryptocurrency trading, debit and credit cards, and a unique margin service, giving investors a wide array of options.
Review: M1 review.
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Interactive Brokers is a top choice for professional-level traders, offering robust software like Trader Workstation and one of the most extensive selections of tradable assets across international exchanges.
Alongside a vast range of global exchanges, Interactive Brokers provides access to a broad selection of unique trading instruments like forex and precious metals. It also supports institutional accounts, which are harder to find at other brokers.
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Tastytrade is focused on futures and options trading but also offers stocks, cryptocurrencies, and ETFs with $0 commissions on equities. Options come with no closing fees, and crypto trades have a 1% commission (capped at $10).
Tastytrade’s platforms offer free access to tastytrade, its educational resource library, which includes live market commentary on weekdays. Tastytrade is one of the few brokers providing portfolio margin and international accounts (with some restrictions by country).
Promotion:
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E*Trade goes beyond trading with its FDIC-insured bank, which offers both checking and savings accounts. The checking account includes check writing and a debit card, while the savings account provides competitive APY rates.
On the investment side, E*Trade offers both managed and self-directed accounts, available in custodial, IRA, and taxable formats. It supports a range of asset classes and features user-friendly software, including the Power and Pro platforms.
Review: E*Trade review.
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TradeStation is a popular choice for day traders and advanced traders who need high-level tools. It offers powerful software on its browser platform, mobile app, and desktop program.
While stocks are commission-free, futures and cryptocurrencies still have associated fees. TradeStation also offers extensive market data packages with various pricing options. A $50 annual inactivity fee applies but can be waived under certain conditions.
Review: TradeStation review.
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The top brokerage firms provide a wide range of investment options, making equity, options, futures, forex, and fixed-income investing more accessible and efficient in real time.
Understanding what features matter most to you as an investor will help you choose the best brokerage to meet your needs.