Best Online Stockbrokers of 2022

• Minimum Deposit: $0
• Fees: None for stocks, ETFs, and mutual funds, 65 cents per contract for options
• Account Types: Standard, retirement, education, trusts, managed portfolios, margin trading

Open Account

Why We Chose It

Fidelity, one of the largest financial companies in the world, managing more than $10 trillion in investors’ assets, is our choice for the best overall stockbroker for a few reasons.

One is that Fidelity makes it easy to execute trades from your computer or a mobile phone. You can view and manage your portfolio from anywhere with little friction.

Fidelity is also an ideal choice for newer investors. There are no minimum balance requirements and no minimum amount to start investing in Fidelity’s mutual funds. You can even use as little as $1 to start buying stocks and ETFs, thanks to the option to buy fractional shares of thousands of securities.

Because of its low fees and lack of commissions, Fidelity is also our winner for best broker for low costs. The company even offers zero expense-ratio index mutual funds, meaning you truly pay no fees to invest.

Fidelity can serve as a one-stop shop for your investing needs. It offers every type of investment account you might need including traditional brokerage, retirement, and education accounts.

Pros

• Many account types
• No minimum balance requirements
• Can invest in fractional shares
• Low costs

Cons

• Minimal research tools
  

• Minimum Deposit: $0
• Fees: None for stock, ETF, and mutual fund trades, 65 cents per contract for options
• Account Types: Standard, retirement, education, trusts, managed portfolios, margin

Open Account

Why We Chose It

TD Ameritrade is our choice of best stockbroker for beginner investors and mobile users. The primary reason for this is that TD Ameritrade offers one of the simplest apps to use, with a clean interface and inviting user experience. You can quickly and easily view your portfolio and make trades from your phone or your computer.

TD Ameritrade also keeps costs low by avoiding commissions or other fees when you make most types of trades.

Newer investors will benefit from the learning materials included in the app. You’ll have free access to online courses and educational tools that you can use to learn about both beginner and advanced investing concepts.

Pros

• Simple interface
• Free learning materials
• No minimums
• No commission

Cons

• No fractional share investing

• Minimum Deposit: $0
• Fees: None for stocks or ETFs, $1 per options contract to open (max $10 per transaction) none to close, $1.25 per contract for futures, 1% for crypto ($10 max per transaction)
• Account Types: Standard, retirement, trust

Open Account

Why We Chose It

Tastyworks is a stockbroker built with day traders and other active investors in mind. Derivatives like options are a popular tool for day traders, giving them a way to leverage their portfolios and earn large returns (or losses) from smaller movements in a stock’s price.

Tastyworks shines when it comes to options because it keeps costs incredibly low. Many brokers charge a per-contract fee for options trades but Tastyworks limits the maximum fee for a single trade to $10. This means you can enter or exit large positions without having to worry about fees eating into your returns.

While Tastyworks shines with options, it also lets investors buy and sell other securities, like stocks and futures. In addition, you can use it to invest in crypto, making it a promising choice for investors who want multiple ways to invest and a broker that is prepared for active trading.

Pros

• Low commissions
• Many types of derivatives available
• Trade cryptocurrencies

Cons

• Designed for advanced investors, not beginners
  

• Minimum Deposit: $0
• Fees: Varies - None to 0.005 cent per share
• Account Types: Standard, retirement

Open Account

Why We Chose It

InteractiveBrokers is a stockbroker designed with advanced traders in mind. It offers tools that more advanced investors will appreciate, such as support for more than 100 different order types that they can use when opening or closing positions.

The company is also the top broker for traders looking to buy and sell on international stock markets. InteractiveBrokers is active in 150 different markets across 33 countries and in 25 different currencies. You can trade stocks, bonds, futures, options, and currencies from a single account.

Advanced investors will also appreciate the powerful trading and stock screening tools that the broker offers as well as the transparent pricing structure with a maximum commission of 1% per trade.

Pros

• Access to global markets
• Powerful research tools
• Designed for active traders

Cons

• Aimed at advanced investors, not beginners
  

• Minimum Deposit: $0
• Fees: None
• Account Types: Traditional brokerage, retirement, trust, robo-advisor, 529 plans

Open Account

Why We Chose It

Charles Schwab is one of the largest brokers on the market.

Schwab is our winner for the best broker for ETFs because it offers more than 25 ETFs that it manages and charges some of the lowest expense ratios in the industry. If you’d rather use another broker’s ETFs, that’s also an option, and Schwab charges no commission for ETF trades.

Schwab offers a variety of account types beyond the typical brokerage account. You can use the broker to save for retirement or your child’s education, making it easy to do all your investing in one place.

Schwab’s mobile app is also well-designed, making it easy to monitor your portfolio and make trades while on the go.

Pros

• No minimum balance
• No commissions for stocks, bonds, and ETFs
• Variety of account types
• Buy fractional shares of S&P 500 businesses

Cons

• High fees for some trades, including derivatives