Do you want to buy shares of stocks like Apple (AAPL), Facebook (FB), Netflix (NFLX), or Tesla (TSLA)? If so, you'll need to set up an investing account with a brokerage. Online brokers execute trades and provide tools that help you make informed investing decisions. By making those decisions yourself, you can save thousands of dollars in asset management fees compared to hiring someone else to manage your money for you.
Every stock trading platform is unique. Today — with every online retail broker offering $0 stock and ETF trades — deciding which one is right for you comes down to differences in fees, features, and ease of use. Investment options, trading tools, market research, beginner education, customer service, and presentation are all factors investors should consider when choosing a broker.
Our top pick overall for 2023, Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.
Best trading platforms and tools, best for beginners
Minimum Deposit
$0.00
Stock Trades
$0.00
Options (Per Contract)
$0.65
TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.
E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.
Pros
Watch lists are the best in the business
Smooth mobile navigation
High-quality high-net-worth Morgan Stanley proprietary research
Best overall client experience, best for high net worth
Minimum Deposit
$0.00
Stock Trades
$0.00
Options (Per Contract)
$0.65
Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.
Pros
Portfolio Story, Dynamic Insights, and the Stock and Fund Stories are groundbreaking features
As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.
Pros
Vast menu of investment offerings
Excellent research and content for long-term investing
Cons
Cryptocurrency isn’t offered
Mutual fund fees are complex
Content has a less friendly approach than some competitors
Winner: Fidelity - Best overall, best for commissions and fees
Fidelity took Best Overall honors in our 2023 Annual Stockbroker Review for handily addressing the needs of almost any individual investor while still keeping it accessible to beginners, especially through its novice-focused mobile apps, Bloom and Spire. Fidelity provides a ton of news and market commentary, along with extensive research on a wide array of investment options. If you’re new to investing, you’ll appreciate a huge library of helpful articles, too.
Runner-up: TD Ameritrade - Best trading platforms and tools, best for beginners
TD Ameritrade is a longtime standout in the industry. It offers a wide variety of features, like its rival Fidelity, and is notably strong in its tools for active traders, specifically its thinkorswim-branded mobile and desktop platforms. Note that TD Ameritrade was purchased by Charles Schwab in 2020, and TD Ameritrade accounts will eventually be migrated to Schwab. A new menu of services from the combined company has not been announced, but we expect many TD Ameritrade services, including its stellar thinkorswim trading platform, to continue at Schwab.
TD Ameritrade's feature-rich thinkorswim app. Press play for a walk-through of features.
Podium finisher: E*TRADE- Best investor app, best web trading platform
E*TRADE won our Best Web Trading Platform award in 2023, and its mobile Power E*TRADE app is no slouch, either. Active traders will find E*TRADE provides usability and depth. Its suite of research providers is top-notch, making the broker also a fine choice for long-term investors. Beginners will find less educational content than at TD Ameritrade and Fidelity, but its ease of use will still satisfy beginners.
E*TRADE Mobile, one of two strong apps the broker offers. Press play for a tour of its features.
Merrill Edge - Best client experience, best for high net worth
Merrill Edge’s… err, edge, is in its design. Beginners will find the mobile app and website easy to navigate. Sophisticated investors can keep clicking toward a wealth of detail. Merrill’s Stock and Fund Stories, along with Portfolio Insights, are thoughtfully designed to ensure investors make informed investing decisions. If you prefer your banking and investing under one roof, check out Bank of America’s killer Preferred Rewards program, which also counts balances at Merrill Edge.
Bank of America Merrill Edge Preferred Rewards tiers
The Stock Story feature on the Merrill Edge mobile app. Press play for a demo.
Charles Schwab - Best for long-term investing
Schwab offers a solid suite of tools for traders, investors, and beginners, but its notable strength is in financial planning. Clients will find useful calculators that can help them make informed long-term investing decisions. Schwab’s Choiceology podcast from Wharton professor Katy Milkman is a joy. As noted above, Schwab acquired TD Ameritrade in 2020 and is in the process of merging the two brokers.
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