Best Stock Brokers – Our Top Picks For 2023

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When it comes to choosing a stock broker, the sky’s the limit. But with so many different brokers to choose from, it could make it difficult to differentiate one from another. This is especially true with the rise of money apps that look to offer all of the financial services that consumers need in a one-stop location.

There’s a trend among investment brokers to charge zero commissions to investors. It started with trading apps and has made its way to some of the financial behemoths. So whichever broker you choose, you’re likely to benefit from this phenomenon.

They have compiled a list of some of the best stock brokers available to make your decision a little easier. Several of the companies that made the cut are household names, including Fidelity Investments, TD Ameritrade, Interactive, eToro and eTrade. Let’s find out what sets them apart.

Fidelity Investments

Fidelity Investments is one of the best stock brokers you could choose. This Boston, Mass.-based financial services giant has been around since 1946 and has evolved along the way, keeping up with the changes in technology. Whether you’re a beginner or expert investor looking to trade stocks, bonds, commodities, indices, digital assets, or something else, Fidelity pretty much does it all.

Considering that Fidelity is so massive, it’s able to offer attractive fees to investors. They offer commission-free trading on cryptocurrencies, U.S. stocks (including OTC stocks) and ETFs. If you want to trade options, it’s also commission free but there’s a contract charge of $0.65.

Plus you get access to all their educational resources and tools to help you invest. Fidelity also has screener tools to help users choose the best securities in a given asset class. Margin interest rates are as low as 8.5% for borrowing and there’s no minimum amount required to invest.

One of the perks of investing with Fidelity is the ability to invest in fractional shares instead of having to purchase an entire stock. It’s called Stocks by the Slice and it’s a dollar-based strategy designed to help investors create diversified portfolios. It lets you trade stocks and ETFs for as little as $1 across thousands of U.S. stocks and ETFs via fractional share trading.

Fidelity supports approximately 40 million individual investors in reaching their financial goals. In addition, the firm oversees employee benefit programs for more than 20,000 businesses and provides services to several thousand advisory firms.

Regulation Information: Fidelity is a well-regulated broker that is registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States. Fidelity is also a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in protection per account in the event of broker-dealer insolvency.

In conclusion, Fidelity Investments is a solid choice for Our Top Picks For 2023 who are looking for a reputable and well-regulated online broker with a wide range of investment options and low fees. Its high-quality research and education tools, advanced trading platform, and good customer service are also attractive features. However, Fidelity’s limited cryptocurrency options and lack of fractional shares may be drawbacks for some investors. Nevertheless, Fidelity’s strong reputation and long history in the industry, along with its regulatory compliance, make it a reliable and trustworthy option for investors looking to open an account.

TD Ameritrade

TD Ameritrade is another one of the best stock brokers to choose from. Founded in 1975, TD Ameritrade has also evolved with the times when it comes to technology. The company offers a trading platform and a mobile app.

TD Ameritrade is behind the ThinkorSwim trading platform, which is designed to help traders of all levels with tools to enhance their strategies, available on the web or mobile app. This is an enhanced version of the company’s standard trading platform, with a wider selection of securities, technical research, analytics and more.

TD Ameritrade boasts a wide product range, transparent pricing, investment tools and strong customer service. TD Ameritrade supports trading across numerous asset classes and products including stocks, options, ETFs, forex, futures, margin trading, bonds, cryptocurrencies and more.

TD Ameritrade offers zero commissions on online stock, ETF and options trades. To trade U.S. exchange-listed stocks, ETFs and options, it’s $0.65 per option contract. You’ll find thousands of transaction-fee-free mutual funds on the TD Ameritrade platform and a screening function to help users pick the right ones.

If you’re a beginner investor, you’ll appreciate TD Ameritrade’s education resources that it makes available across various channels, including videos, webcasts, and analysis. You can also gain access to professional research on individual stocks from firms like Morningstar and Thomson Reuters.

Regulation Information: TD Ameritrade is a well-regulated broker that is registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States. TD Ameritrade is also a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in protection per account in the event of broker-dealer insolvency.

In conclusion, TD Ameritrade is a strong contender for Our Top Picks For 2023 who are looking for a reliable and well-regulated online broker with commission-free trading and a wide range of investment options. Its high-quality research and education tools, advanced trading platform, and good customer service are also attractive features. However, TD Ameritrade’s limited cryptocurrency options and potentially overwhelming research platform may be drawbacks for some investors. Nevertheless, TD Ameritrade’s security and regulatory compliance, along with its lack of account minimums, make it a solid choice for investors looking to open an account.

Interactive Brokers

Interactive Brokers makes the cut as one of the best stock brokers. It supports trading in stocks, options, futures, currencies, bonds and funds all from the same platform. This platform is designed for investors and traders of all levels, whether you’re a beginner or more experienced across mobile, web and desktop. The company is publicly traded and listed on the Nasdaq.

Interactive Brokers offers competitive costs, including commissions starting at zero with no surprise spreads, platform fees or account minimums. The platform’s margin rates range from 5.08%-6.08%, which is low compared to the industry standard. Interactive Brokers supports 150 markets across 33 countries and over two-dozen currencies.

Users gain access to a wide breadth of educational resources, as well as research and news to help uncover investment opportunities. The platform supports over 100 order types, from limit orders to sophisticated algorithmic trading. Interactive Brokers is behind the IB Trader Workstation, which helps users to research and find investment opportunities.

There’s also IBKR Lite, which is meant for beginner investors. It supports unlimited commission-free trading on U.S. stocks and ETFs. You won’t have to worry about maintaining an account minimum or account inactivity fees. IBKR also offers another perk in which it pays investors interest on idle cash balances. It also offers a Stock Yield Enhancement Program in which the company borrows your stock, which they then loan out and share half the interest with you, the lender.

Regulation Information: Interactive Brokers is a well-regulated broker that is registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States. Interactive Brokers is also a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in protection per account in the event of broker-dealer insolvency.

In conclusion, Interactive Brokers is a solid choice for Our Top Picks For 2023 who are looking for a low-fee, well-regulated online broker with a wide range of investment options and an advanced trading platform. Its high-quality research and education tools, good customer service, and lack of account minimums are also attractive features. However, Interactive Brokers’ steep learning curve and inactivity fees may be drawbacks for some investors. Nevertheless, Interactive Brokers’ regulatory compliance and security, along with its competitive pricing and advanced trading platform, make it a good choice for investors looking to open an account.

eToro

eToro is a trading platform that continues to grow in popularity, and it makes our list of the best stock brokers. Founded in 2007, eToro is a social trading platform that supports contracts for difference (CFDs), cryptocurrencies, stocks, ETFs and options. eToro currently boasts 3,000 assets on the platform and 30 million users.

eToro is popular as a social trading platform in which it strives to give users confidence to make investment decisions. They do this with a transparent platform that lets users see what their friends are trading, ask questions and engage with investors from around the globe.

eToro’s Copy Trader feature allows users to observe the stocks that are getting the most attention and copy the strategies of the platform’s top traders. eToro attaches stats to the signal providers based on metrics like returns so investors can decide who to copy.

Given the easy-to-navigate site and Copy Trader feature, eToro is a good choice for beginner investors. The mobile app is similarly user-friendly.

eToro is also a regulated broker, which should give investors some level of confidence when trading CFDs and other assets.

Regulation Information: eToro is a well-regulated broker that is registered with multiple regulatory bodies around the world, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. However, eToro is not currently registered with the Securities and Exchange Commission (SEC) in the United States.

In conclusion, eToro is a good choice for Our Top Picks For 2023 who are looking for a user-friendly, low-fee online broker with a wide range of investment options, including social trading and CopyPortfolios. Its good customer service and regulatory compliance are also attractive features. However, eToro’s limited research and education tools, as well as its limited cryptocurrency offerings, may be drawbacks for some investors. Nevertheless, eToro’s user-friendly platform and innovative features make it a good choice for those who are new to investing or who want a more hands-off approach to investing. However, Our Top Picks should be aware that eToro is not currently registered with the SEC in the United States.

E-Trade

E-Trade makes the cut on our list of best stock brokers. This platform offers a wide-range of investment options, including stocks, options, ETFs, mutual funds and other assets. Opening an account is simple and takes just a few minutes.

E-Trade offers zero-commission trades for online U.S.-listed stocks, ETFs, mutual funds and options. You can learn more about the E-Trade pricing model here.

E-Trade’s sophisticated trading platform is called Power E-Trade. It supports numerous technical studies and offers charting for technical analysis on stocks. The platform will even help you assess the risk/reward on options trading. E-Trade Web is the company’s more basic trading platform if you’re not quite ready for all the bells and whistles just yet.

If you’re new to investing, E-Trade offers education and guidance so you don’t feel as though you’re on the journey alone. E-Trade is also a solid platform for experienced investors and traders. Savvy traders will appreciate that E-Trade offers a high-performance platform and mobile app and offers trading discounts on options when traders reach a certain volume.

Regulation Information: E-Trade is a well-regulated broker that is registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States. E-Trade is also a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in protection per account in the event of broker-dealer insolvency.

In conclusion, E-Trade is a good choice for Our Top Picks For 2023 who are looking for an advanced trading platform with a wide range of investment options and good customer service. Its high-quality research and education tools, lack of account minimums, and regulatory compliance are also attractive features. However, E-Trade’s high fees and potentially steep learning curve may be drawbacks for some investors. Nevertheless, E-Trade’s competitive pricing on commission-free trading and its advanced trading platform make it a good choice for more experienced traders. Overall, E-Trade is a well-regulated broker with a good reputation for customer service, making it a reliable option for investors looking to open an account.

What Is Partial Share Investing?

Fractional share investing lets you own a fraction of a share in a company instead of having to trade a whole share. Trading partial or fractional shares might suit you if the price on a stock you’d like to own is out of your price range currently. Owning a fractional share, with minimums as low as $5, could allow you to gain access to a stock you otherwise could not afford.

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Conclusion

As an investor, you aren’t likely to go wrong if you choose one of the best stock brokers. Not only will you gain access to thousands of stocks on any of these platforms, but you will also have access to top-tier research and tools like charting that will help you to make investment decisions. Not to mention, each of these platforms is highly regulated and therefore provides security to investors.

When choosing a stock broker, consider the features that are most important to you, whether it’s fees, margin interest rates, account minimums, customer service, or something else. Each of these brokers has its strengths, so you’re sure to find one that suits your needs.

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