Investors looking for a reliable broker have plenty of options. From traditional brokerage firms to discount brokers and fin-tech companies with new ways to invest, there’s a growing number of choices available.
Top Brokerage Firms
Finding the right brokerage firm means thinking about what you need. Each broker offers a different mix of services and investment choices, so it’s essential to choose one that aligns with your goals and expectations.
With so many firms out there, choosing the best one can feel overwhelming. To help, we’ve put together a list of the top brokerage firms in the U.S.
So, who are the top 10 brokerage firms? Keep reading to find out.
Top Ten Brokers
The top 10 brokerage firms on our list have some things in common: they offer a solid set of tools and services and some of the best rates in the industry.
At the top, we have well-known names in retail investing. Fidelity, Schwab, and Firstrade each provide a full range of investment and banking services to suit nearly every type of investor.
Each firm offers various account types (like individual cash/margin, joint brokerage, retirement, educational, custodial, corporate, small business, cash management, and international) along with low rates and a broad range of investment options (including U.S.-listed stocks and ETFs, Forex, futures, crypto, mutual funds, fixed-income products, OTC, Pink Sheets, and more).
Schwab’s acquisition of TD Ameritrade added thinkorswim to its offerings, which enhances Schwab’s standing in technical analysis and advanced charting.
Fidelity stands out for wealth management, low account fees, and cash management features.
Firstrade is a top pick for low-cost trading and direct access to cryptocurrency markets.
Next, we have newer brokers that have brought something fresh to the investment space.
Webull is a commission-free broker offering a great charting experience on almost any device. Along with low rates and access to professional trading tools, Webull also offers appealing promotional programs.
Robinhood is similar to Webull in many ways, providing an easy way to access the markets, low rates, and an excellent mobile app. Robinhood’s IRA match program is especially attractive to investors focused on retirement.
Four-star brokers are strong overall but may lack in one area when compared to the best firms. It’s worth noting that IBKR, TradeStation, Tastytrade, E*TRADE, and J.P. Morgan all hold four stars, and each is a great broker in its own right.
Choosing the Best Broker
We look at several factors to decide which brokers earn a spot on our list of top firms. Cost, account features, promotions, investment choices, available account types, and trading tools are some of the key areas we consider.
Let’s take a closer look.
Cost
Most of the top brokerage firms on our list are competitively priced. To find brokers with the lowest fees, we look at several aspects.
Commissions and margin rates are key, but we also consider account maintenance, minimums, and inactivity fees. We factor in costs for premium services like market data, news, account management, and advisor support.
Our favorite low-cost brokers are:
- Robinhood
- Webull
- Firstrade
Promotions
Promotions and bonuses can be important when choosing a new broker. The top brokerage firms often provide a range of incentives, such as free stocks, cashback offers, referral rewards, trial access to premium services, and reimbursements for transfer fees.
The brokers with the best bonuses are:
- Webull
- Robinhood
- E*TRADE
Account Features
The top 10 brokerage firms on our list offer many account features that give investors more ways to manage their money. These include margin-related features like securities lending, margin loans, and short selling, as well as services like managed portfolios, robo-investing, and AI-powered portfolio rebalancing.
The best brokerage firms for account features are:
- Charles Schwab
- Fidelity
- Robinhood
Investment Vehicle Selection
In terms of investment options, some brokers keep it simple with only U.S.-listed stocks and ETFs, while others offer a wide range of products. While there’s no single best option here, we appreciate brokers that provide access to a broad array of investments.
If you’re interested in foreign stocks, Pink Sheets, Forex, futures, mutual funds, bonds, or cryptocurrencies, consider one of the highly-rated brokers on our list.
The top brokerage firms for investment options are:
- Charles Schwab
- Firstrade
- IBKR
- E*TRADE
- TradeStation
Account Types
Like investment options, the availability of account types also varies across brokers.
Most brokers offer basic accounts like margin and cash accounts. If you need options for retirement, education savings, or custodial accounts, check if the broker offers IRAs, education accounts, or joint accounts. International clients may also need brokers that support ITINs for account setup.
Brokers with the widest range of account types are:
- Charles Schwab
- Fidelity
- Firstrade
- E*TRADE
Trading Platforms
Another key factor when choosing a brokerage is the available trading platforms and analytical tools. We assess platform features and how they assist in trading and investment decisions.
Top brokers for advanced traders offer platforms with high-end features, such as support for third-party analysis tools, customizable charts, multiple monitor setups, hotkey trading, advanced order entry, and direct market access.
With the growing demand for mobile trading, most of our recommended brokers also provide powerful browser-based platforms and user-friendly mobile apps.
Brokers with the best trading platforms are:
- Charles Schwab's Thinkorswim
- Fidelity
- IBKR
- TradeStation
Brokers with the best mobile apps are:
- Charles Schwab
- IBKR
Updated on 4/11/2025.