A discount broker is an online broker with rock-bottom pricing. These discount brokerages will help you keep transaction costs down without hindering your trade capabilities. Ally Invest may be a deep-discount broker, but its robust trading platform and lineup of free research, charting, data and analytical tools puts it in line with some of its more well-known — and higher-priced — competition.
TD Ameritrade makes up for higher-than-average trading commissions with better-than-average service, research and trading tools that will make everyone from beginner investors to active traders happy. Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, two robust trading platforms and a wide selection of commission-free ETFs and no-transaction-fee mutual funds.
Robinhood is truly free: There are no hidden costs here. Interactive Brokers is a strong option for advanced, frequent traders: The broker offers international trade capabilities, low commissions and a quality trading platform. New traders might be turned off by inactivity fees, high balance requirements and a lack of educational resources. Robust research and tools. Cons No commission-free ETFs. No no-transaction-fee mutual funds. Cons High account minimum Trade minimum for active trading platform.
Cons Higher trade commission. High short-term ETF trading fee. Two platforms with no minimum or fees. Cons Higher trade commissions. Cons No retirement accounts No web trading platform. Cons Inactivity fees High minimum balance requirement Complex pricing Minimal educational resources.
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Large selection of commission-free ETFs and funds. No-frills, free trading app for beginners. Overall; mutual funds and ETFs. Frequent traders; options traders. Discounts for frequent traders; among best platforms.More...