Best Online Brokerage Accounts in USA: Top 6 Reviewed (2023)

Highlights: Low fee commissions, intelligent tools 

Trade commissions: $0

Account minimum: $0

Ally Invest is a trading platform that is geared toward independent investors. With Ally’s intelligent tools, they prepare their clients to make their own well-informed investment decisions. 

Some of the features of the intelligent tools include: 

• Reading streaming charts 
• Profit/loss graphs 
• Creating watchlists 
• Using probability calculators 
• Reading market stats 
• Screening ETFs

This platform is suitable for executing many trades, including stocks, ETFs, bonds, mutual funds, and forex, which are only tradable on select platforms. 

One of the biggest perks of choosing Ally Invest as your online broker is that you can open a traditional taxable brokerage account and a banking account that includes checking and savings options. This makes transferring funds between accounts very easy.

Highlights: Easy trading platform and mobile app, variety of security options, research, and education

Trade commissions: $0

Account minimum: $0

TD Ameritrade is the most versatile online broker on the market today. They are well known for their research, education, and various securities, including futures and forex and more than 3,700 mutual funds—all with no transaction fee. 

This platform boasts extensive free educational resources such as TD Ameritrade Network streaming videos, in-person workshops, online courses, articles, and webcasts. There are plenty of opportunities to learn more with TD as they constantly update their systems. 

TD Ameritrade creates courses that feature gamified elements, progress tracking, technical analysis, income investing, options trading, and more. This online broker is perfect for a learn-as-you-go approach to investing for beginners. 

Best Online Broker Overall

Highlights: Overall client experience, beginner investors, research

Trading commissions: $0

Account minimum: $0

Fidelity Investments is the best online broker overall. They have a reputation for being investor-friendly. They have an easy-to-use platform for new investors, active day traders, and long-term investors. They take $0 in trading commissions and there is no account minimum. 

Fidelity provides a ton of securities such as stocks, ETF trades, index funds, mutual funds, and more. They also have many different account types such as a taxable brokerage account, IRA’s including Roth, health savings accounts, 529 education saving plan accounts, and more. 

They also provide a wealth of research and education to their clients, including guided programs for savings and goals, which makes it an excellent broker option for new investors. Due to their ongoing research, they are constantly evolving and are now looking for new ways to cut down account fees. 

Highlights: Reliability, customer service

Trading commissions: $0

Account minimum: $0

Our top choice for an online broker with the best customer service is Charles Schwab. Charles Schwab is known for its easy-to-use online platform and knowledgeable customer service agents. Their website outlines fees, account types, investment products, trading research, and more. 

Charles Schwab does not only offer online access, but they have many branch locations across the U.S. as well, which allows for financial experts to advise their clients either online or face to face.

Charles Schwab may be your online broker option if you are looking for more hands-on support during your investing experience. 

Highlights: Low-cost trading, margin trading, powerful platform

Trading commissions: $0

Account minimum: $0

Interactive Brokers has a strong reputation for being the best active trading platform for more experienced traders. One of the reasons it is one of the best for day traders is its low-cost fees. For active traders, costs are necessary because of the frequency of the trades being made daily or weekly.

Their $0 commission fees and margin interest rates make Interactive Brokers an unstoppable platform on the market today. Another key strength of this broker is its access to the global market. With their platform, you now have access to trade worldwide, including 135 markets in 33 different countries. 

This online broker is also top among heavy traders because it boasts swift trade execution, bulk trade discounts, and various programs on its platform. 

For seasoned traders, you may have already heard that Interactive Brokers is the best for your kind. Check them out if you haven’t already. 

Highlights: In-house research, existing Bank of America clients, customer support

Trade commissions: $0

Account minimum: $0

If you are looking for an online broker with a research team, look no further than Merrill Edge. Merrill is known for the high-quality research that its specialized analysts conduct. They use the data collected to create educational resources for their clients, especially new investors. 

One of the perks of opening a brokerage account with Merrill Edge is their partnership with Bank of America. This allows existing Bank of America clients to transfer funds between accounts for free. 

Merrill offers different accounts, including online brokerage accounts, retirement accounts, and guided investment accounts handled by Merrill’s financial professionals.