Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circ*mstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication.
James Royal, Ph.D. James Royal, Ph.D.
Written by
Mercedes Barba Mercedes Barba
Edited by
Robert R. Johnson Robert R. Johnson
Reviewed by
Mercedes Barba Mercedes BarbaEdited by
Robert R. Johnson Robert R. JohnsonReviewed by
As of April 01, 2024
Stocks are one of the best long-term investments you can make to build wealth, and it’s never been easier to buy stocks online. But how do you choose the best online broker for stock trading? That depends on the type of investor you are and the features you need the most.
Bankrate analyzed dozens of brokerage firms to help you find the best online brokers for stocks. Here are our top picks for the best online stock brokers.
Showless
Readmore
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict,this post may contain references to products from our partners. Here's an explanation for .
The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our investing reporters and editors focus on the points consumers care about most — how to get started, the best brokers, types of investment accounts, how to choose investments and more — so you can feel confident when investing your money.
Investing disclosure:
The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal.
Editorial integrity
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
On This Page
On This Page
- Top online brokerage accounts for trading stocks
- What to consider when choosing a broker
- How to start trading stocks quickly and easily
- Can you buy stocks online without a broker?
- Frequently asked questions
The best online brokers for stocks in April 2024:
- Charles Schwab
- Fidelity Investments
- Robinhood
- E-Trade
- Interactive Brokers
- Merrill Edge
- Ally Invest
- Tastytrade
- WellsTrade
The top online brokerage accounts for trading stocks in April 2024
An online broker is a financial institution that allows you to purchase securities, includingstocks, through an online platform. Online brokers are sometimes referred to as discount brokers because they offer a considerable discount to what the typical full-service brokerage firm charges.
With an online broker, you won’t get the same financial advice or investment recommendations that full-service brokers typically provide, but you will get commission-free trading and access to a number of other services and products depending on which broker you choose. Choosing an online broker makes sense for most investors.
Charles Schwab
Rating: 5 stars out of 5
5
Bankrate score
Read review
-
Charles Schwab has a long pedigree of helping individual investors, and that tradition remains firmly intact. Schwab really does everything well, from strong trading platforms and a broad array of tradable securities and services to responsive customer support at any time.
Who are they best for?From novice investors to seasoned pros, Schwab is an overall good choice for those who want to go at it themselves and have professionals on call just in case.
Fidelity Investments
Rating: 5 stars out of 5
5
Bankrate score
Read review
-
Whether you’re looking for a great trading platform, low commissions or helpful customer support, Fidelity will do right by you. This broker does it all well, and it’s one of the easiest to use, especially if you’re just starting out, but works well for advanced investors, too.
Who are they best for? Investors just starting out can benefit well from Fidelity’s wide range of easily digestible educational tools.
Robinhood
Rating: 4 stars out of 5
Bankrate score
Read review
-
Robinhood has made a splash, developing millions of devoted followers for its commission-free trading and user-friendly mobile app.
Who are they best for? Robinhood is a great platform for investors who are getting started and want to trade quickly and without too much hassle.
E-Trade
Rating: 4.5 stars out of 5
4.5
Bankrate score
Read review
-
E-Trade provides a solid option, regardless of what type of investor you are — passive or active, novice or expert. And it has a great educational section, offering not only a library of educational tools, but a merry-go-round of webinars, news clips and educational videos aimed at investors of all levels.
Who are they best for?Great for all levels of investor, especially if you’re looking for research and education. If you are looking to trade often, E-Trade’s discounts on volume options trading are a huge benefit.
Interactive Brokers
Rating: 5 stars out of 5
5
Bankrate score
Read review
-
Interactive Brokers has long been known as a brokerage for professionals and active investors, with a powerful trading platform and good trade execution.
Who are they best for? Investors who might already know a thing or two and want to further their investment game.
Merrill Edge
Rating: 4.5 stars out of 5
4.5
Bankrate score
Read review
-
Merrill Edge is a full-service broker that offers high-quality tools for traders while still catering to investors looking to get started. That’s especially evident when you consider that the broker has more than 2,000 locations inside parentBank of America’sbranches, makinghuman advisorseasily accessible, a particularly valuable feature for newer investors needing a guiding hand.
Who are they best for? Investors of all levels can benefit from Merrill’s wide range of resources and on-hand customer service support. Merrill can be especially beneficial for clients of Bank of America.
Ally Invest
Rating: 4.5 stars out of 5
4.5
Bankrate score
Read review
-
Ally Invest has a lot that investors will like, such as its commission-free stock and ETF trades, 24/7 customer service and trading platform, which more active traders will appreciate. You’ll also get access to news and independent research on stocks you’re following as well as a mobile app that helps you stay connected on the go.
Who are they best for? Many investors will benefit from Ally’s offering, but existing customers of Ally’s online bank will appreciate having their finances in one place.
Tastytrade
Rating: 4 stars out of 5
4
Bankrate score
Read review
-
Tastytrade is a newer entrant to the brokerage world, and it really caters to active traders looking to slash costs. Its pricing structure favors high-volume clients with capped commission on options and cryptocurrencies, helping them trim trading fees while still providing high-quality service.
Who are they best for? Tastytrade will likely fit best for active stock traders, but it’s also going to do well for those working with options and cryptocurrency.
WellsTrade
Rating: 3 stars out of 5
3
Bankrate score
Read review
-
WellsTrade is the brokerage service of the financial conglomerate WellsFargo, and it offers no commissions on stock and ETF trades in addition to no transaction fees on more than 1,800 mutual funds.
Who are they best for? WellsTrade will likely be a good fit for clients of WellsFargo as well as buy-and-hold investors.
What to consider when choosing a broker
The best online stock trading websites offer investor-friendly features and fees traders can easily justify. To come up with the list of firms consumers should consider this year, we considered the following factors:
- Price:When it comes to fees, you’re in luck — fees have been dropping swiftly as most online brokers slashed their trading commissions on stocks and ETFs to $0. For this list of best online trading sites, we considered fees and trading costs to see how they stack up.
- Broker resources:You’ll also want to consider factors such as research tools, the quality of the digital trading app, and the ability to place trades quickly and reliably, among other details.
- Strategy:The account you really want will ultimately come down to your personal investment strategy — including how frequently youplan to tradeand whether you’re a beginner or are more experienced. We considered how each investing platform tailored its offerings to a different type of consumer.
How to start trading stocks quickly and easily
Online stock trading may sound complicated, but it’s fairly easy once you’re set up with an account. Here are a few tips on how to get started quickly:
- Do your research.Researching potential investmentsahead of time will allow you to hit the ground running once your account is funded.
- Gather personal information.In order toopen an account, you’ll need to provide some basic personal information about yourself and any other people listed on the account. Make sure to have information like your Social Security number handy.
- Link your bank account.By linking your bank account to your online broker, you’ll be able to deposit funds faster than if you mail a physical check.Funding through an electronic transfershould allow you to start trading within a few days of opening your account.
Can you buy stocks online without a broker?
Most people will want touse an online broker to buy and sell stocks. It is true that some companies offer direct purchase programs that allow you to buy stock directly from the company, but these can be onerous to navigate and aren’t necessary when you can buy stocks through most online brokers commission-free.
Frequently asked questions
Note: Bankrate’sBrian Bakeralso contributed to this story.
Related content: Basics of investing
Active vs. Passive InvestingPreviously Read4 MIN READ
Popular Investing Strategies for BeginnersPreviously Read6 MIN READ
