Who are the Best Online Stock Brokers in America?
- Finance
- By Kirstie H. on
Investing in the stock market is a great way to build long-term wealth. Time is money, so start learning about the best online stock brokers in America today!
Choosing a stock broker can be overwhelming. Fortunately, there is competition between brokers right now, which means many are offering no-fees services on commonly traded assets. Of course, there are significant differences in the trading technology, usability, and account features between these platforms, so it's essential to do your research and find the best platform for you.
Keep reading to learn more about the best online stock brokers in America right now.
Fidelity Investments
This year, Fidelity Investments became the first provider to allow cryptocurrencies to be added to their customer's 401(k) accounts. This new cryptocurrency service is offered by employers that use Fidelity to administer their retirement accounts — which means over 20,000 employees can take advantage by mid-2022.
If you want a brokerage with a client-focused approach, Fidelity is a great option. Fidelity helps investors to keep their costs low and provides innovative tools to help manage and analyze your investment portfolio. In fact, Fidelity is continually improving its platform to make investing easier for everyone. For example, Fidelity practices a "cash sweep" of uninvested cash into money market funds, giving clients no-stress modest returns in their portfolios. Fidelity also shares revenue from the stock loan program back to their customers, helping to continually lower costs for clients while improving returns.
TD Ameritrade
If you're entirely new to investing, you'll appreciate the effort TD Ameritrade puts into investor education. In fact, TDA is one of the easiest ways to start in the stock market for new investors. TD Ameritrade offers plenty of resources and tools to support new investors on their investment journey. TD Ameritrade has educational tools for beginner and seasoned investors alike. You can even paper trade on their platform without any commitment! With its user-friendly and comprehensive platform, it's no surprise that TD Ameritrade is one of the most popular online brokerages in America.
Tastyworks
Tastyworks is an online brokerage that offers extremely competitive prices on trading options contracts. The platform is user-intuitive and features plenty of flexible tools and educational content for investors to hone their skills and learn about the market. Tastyworks is the perfect broker for investors who know they want to focus on options trading. The platform makes it fast and easy to find all of the tools and analytics you need during trading sessions. Plus, you can spend your downtime learning about more options-related content to prepare for your next session.
Interactive Brokers
Interactive Brokers (IBKR) is the ideal option for advanced day traders with plenty of experience — especially advanced cryptocurrency day traders. IBKR enables traders to engage in direct coin trading, plus it offers all of the assets, tools, and reach traders need to come away with a very healthy profit margin.
Interactive Brokers also has access to 150 markets in 33 countries! What's more, you can trade 25 currencies in over 100 different pairs — all from a single account. Put simply, if you're interested in being able to trade internationally, 24 hours a day, Interactive Brokers is the ideal choice!
Charles Schwab
Charles Schwab is one of the most well-known investment firms in the world. Charles Schwab is perfect for investors who are interested in ETFs. Its platform offers investors easy-to-use analysis tools and educational resources around ETF investing. Schwab makes it simple to invest in exchange-traded funds while still providing the depth of research and multi-criteria screening that experienced investors seek.
The StreetSmart Edge ETF screener makes it easy for traders to filter over 600 ETFs based on various criteria making it highly customizable and robust. You can even save screens and retrieve them for ease, as well as edit them as your trading strategy evolves.
Find the Best Online Brokerage Platform
Finding the best brokerage platform depends on a number of factors, including the type of investor you are and how you plan to invest. For instance, if you are a beginner investor just starting out, you will likely want to opt for a user-friendly platform with plenty of educational resources and support. As your experience as an investor grows and you become more confident, your investment strategy and goals may grow also. Fortunately, due to big competition between brokerages, it's easy to find a platform that meets your needs. Start your search today for the best online brokerages.