There are many online brokerage firms on the market trying to lure investors with their pricing,
promotions, product choices, and trading tools. Below, we will briefly describe some of the best
investment companies in 2023.
TD Ameritrade. Experienced traders will find much to like about TD Ameritrade, which is home to some of the best software in the online discount brokerage industry. thinkorswim is the company’s flagship trading platform, and it comes in three modes: desktop, browser, and mobile app.
TD Ameritrade also offers forex and futures trading, one of the few securities brokers to do so. It continues to deliver exceptional customer service in an era where many companies are cutting back on service departments. Plus, TD Ameritrade has a large network of branch locations for traditional, in-person service.
Promotion: $0 stock/ETF trades + transfer fee refund.
Review: TD Ameritrade review.
Open TD Ameritrade Account
J.P. Morgan Investing. Automated and self-directed accounts can be opened in either taxable or tax-deferred mode at J.P. Morgan Investing. The robo accounts have automatic rebalancing and glide slopes as additional features at no extra cost (the management fee is 0.35% with a $500 minimum deposit).
Self-directed accounts have no minimums of any kind. They get a larger selection of tradable assets, including fixed-income securities, stocks, mutual funds, and option contracts. The website and mobile app can be used for trading. They are the same platforms Chase Bank customers use, so there are lots of cash management tools on them.
Promotion:
Get up to $625 when you open and fund a J.P. Morgan Self-Directed Investing account.
Review: J.P. Morgan review.
Open Chase Account
Firstrade caters to the Chinese-speaking world. As such, it offers customer service in Chinese both over the phone and on its website. The brokerage house accepts account applications from all major Chinese-speaking countries plus several others.
For actual trading, Firstrade offers the standard fare of securities with zero commissions. This policy applies to over 16,000 mutual funds. There are also no fees on option trades of any kind, with the sole exception of exchange and regulatory fees. The company recently rolled out cryptocurrency trading (with a 1% markup/markdown on trades).
Promotion: Earn up to $4,000 cash bonus & get $0 commission trades.
Review: Firstrade review.
Open Firstrade Account
Fidelity Investments. A large cornucopia of financial services will be found at Fidelity Investments. The brokerage firm offers annuities, health savings accounts, self-directed and advisory accounts (the latter in both robo and human formats), life insurance, direct indexing, 529 college savings plans, and more.
Fidelity is one of the most famous fund managers in the world, with over 300 mutual funds to choose from and more than 50 exchange-traded funds. Other investment products available with a Fidelity account include options, stocks, bonds, and Initial Public Offerings (IPOs).
Promotion: Open a Fidelity account and get $0 stock trades.
Review: Fidelity review.
Open Fidelity Account
Charles Schwab
has been a leader in the online discount brokerage industry for many years and continues to be so today. No wonder, with a large selection of account types, investment-advisory services, cash management tools, and so much more.
Besides the traditional lineup of US-listed securities, Schwab also offers access to foreign stocks trading on multiple international exchanges. On top of this great program, Schwab has a lot of hard-to-find services, including branch locations, small business 401(k) plans, and wealth management.
Promotion: Open Schwab account and get $0-fee stock trades.
Review: Charles Schwab review.
Open Schwab Account
M1 Finance. If you want to be your own fund manager, M1 Finance is the place to be. The brokerage firm offers trading in Pies, which are customer-built baskets of securities that have no management fees. It’s also possible to invest in Pies created by M1 Finance itself.
M1 has gradually launched more programs than just Pie investing. It now has debit and credit cards, a unique margin service, retirement accounts, and cryptocurrency trading. A Plus membership with the company delivers the best service, although it does cost $125 per year.
Promotion:
Get $10 for making a $100 deposit.
Review: M1 review.
Open M1 Finance Account
Interactive Brokers. The broker of choice for professional-level traders is Interactive Brokers. Not only does the company have some really good software in Trader Workstation, it also offers one of the largest ranges of tradable assets in its extensive list of international exchanges.
In addition to the large selection of global exchanges, Interactive Brokers also offers a wide selection of tradable instruments not always found elsewhere (such as forex and precious metals). Institutional traders and other professionals can open accounts, another rare service.
Promotion: Get up to $1,000 in IBKR stock with this referral link!
Review: Interactive Brokers review.
Open IB Account
tastyworks. Futures and options trading is what tastyworks is all about, although it does offer stocks, cryptos, and ETFs, too. It does this with $0 commissions on equities. Options have no fees on the closing side, while digital currencies have a 1% commission (with a $10 cap).
tastyworks’ software platforms deliver free access to tastytrade, the company’s educational library. Live streaming of market commentary is available during the weekday. In addition to this resource, tastyworks is one of the few brokerage firms today to offer portfolio margin and international accounts (some countries are ineligible).
Promotion: Get $75 for each person you refer when you sign up with this referral link.
Review: TastyWorks review.
Open TastyWorks Account
E*Trade. Despite the name, E*Trade offers more than just trading services. It also operates an FDIC-insured bank with both checking and savings accounts. The latter have a really good APY right now, while the former come with checkwriting and a debit card.
The investment side of the business comes with both managed and self-directed accounts, and these can be opened in multiple formats, including custodial, IRA, and fully taxable. Many asset classes can be traded, and the broker delivers some really good software, including Power and Pro platforms.
Promotion:
No commissions on stocks and ETFs.
Review: E*Trade review.
Open Etrade Account
TradeStation. Day traders and other advanced traders often turn to TradeStation to meet their heavy demands. The brokerage firm has some really good software that can be utilized through its browser platform, mobile app, and desktop program.
Zero-commission trading is now standard fare on equities, although futures and cryptocurrencies continue to have commissions. As a pro-level trading service, TradeStation has lots of market data bundles, most of which come with varying fees. It continues to charge a $50 annual inactivity fee, although it can be avoided in a couple of ways.
Promotion:
Cash bonus up to $150 for depositing funds into TradeStation.
Review: TradeStation review.
Open Tradestation Account
Webull. Securities traders will find much to like about Webull, particularly what it offers outside of securities trading: cryptocurrencies. Both products can be traded on the broker’s mobile app, browser platform, or desktop program, all of which are on a very high level. Fractional-share and fractional-coin trading are both standard now.
Options traders will really like zero per-contract fees and no exercise or assignment fees, either. Equity traders will enjoy the broker’s extensive security research tools, some of which are in graphical format. A recent addition of OTC stocks rounds out an already satisfactory picture.
Promotion:
Grab your last chance to get 12 free stocks valued up to $30,600.
Review: Webull review.
Open WeBull Account
The top brokerage firms provide a wide array of investment options for investors and traders. Equity,
options, futures, forex, and fixed income investing have become cheaper, more efficient, and in real-time.
Learning and understanding what are the most important criteria for you as an investor, can help you select the very best
investment company for your personal needs.