Top Rated Online Brokerage Accounts 2024 Compared

If you're looking for a top-rated online brokerage account in 2024, you're in the right place. Fidelity Investments offers over 3,000 mutual funds with no transaction fees.

Robinhood is a popular choice among beginners, with commission-free trades on stocks, ETFs, options, and cryptocurrencies. Its simple and user-friendly interface makes it easy to get started.

TD Ameritrade stands out for its extensive research and analysis tools, including thinkorswim, a powerful trading platform. This feature is particularly useful for advanced traders.

E\*TRADE offers a mobile trading app with real-time quotes and charts, making it easy to stay on top of the market on-the-go.

Our selection process is designed to give you a comprehensive and independent assessment of online brokerage firms. We have a team of full-time investing writers and editors who spend months researching and testing each broker's stock trading capabilities.

We open and fund real accounts to place trades, allowing us to report on every aspect of the user experience. This includes how long it takes to fund a new brokerage account and how easy the process is.

Our comprehensive review process evaluates the largest U.S. brokerage firms by assets under management, as well as emerging industry players. We collect data directly from providers through detailed questionnaires and conduct first-hand testing and observation through provider demonstrations.

We score each online broker against a set of criteria that factors in both the features offered and the actual user experience of using those features. This includes how easy it is to sign up for and fund a new account.

Our proprietary assessment process scores each provider's performance across more than 20 factors. We consider factors such as online broker fees, tools, research options, customer service, educational content, and more.

We use a star rating system, with five stars representing an excellent experience and one star representing a poor experience. Our reviewers aim to provide an independent assessment of providers to help you make informed decisions.

Here are the criteria we consider when selecting our list of the best online brokerages:

All the online brokerages we feature are authorised by the Financial Conduct Authority.

Some investing platforms provide telephone helplines, while others rely on in-app chat functions.

Reading customer reviews can give you a rough idea of a provider's customer service, but remember to take them with a pinch of salt.

Calling a helpline or sending an email before signing up can give you an idea of how quickly a provider responds to customer enquiries.

Fidelity is one of the largest and most well-established brokerages, with a wide selection of mutual funds and exchange traded funds (ETFs). It has a non-tiered platform fee structure, which means that clients pay the same fee regardless of the value of their portfolio.

Fidelity offers a decent selection of investments, with over 2,500 shares, 2,500 funds, and 400 ETFs available. The platform fee is 0.35%, and there's no minimum balance requirement.

The broker-assisted trade fee at Fidelity is higher than most competitors charge, but it only comes into play if you need help placing a trade. This fee is likely to be a concern for those who are new to investing or need regular assistance.

Fidelity has a strong reputation for customer service, with a call centre open six days a week and a dedicated team available to answer questions. The broker also offers 24/7 customer support, which is a major advantage for those who need help outside of regular business hours.

Here are some key facts about Fidelity:

Fidelity also offers a range of other features, including access to international markets, fractional share investing, and a selection of Bitcoin and Ethereum investments. These features make Fidelity a good option for those who want to diversify their portfolio and invest in a range of different assets.

Charles Schwab has earned its strong reputation for high-quality customer service. They offer 24/7 customer support, which is a big plus for investors who need help outside of regular business hours.

Some investing platforms provide telephone helplines, while others rely on in-app chat functions. Charles Schwab, for example, offers both options, so you can choose the one that works best for you.

Charles Schwab also has a large trading platform selection, which is a great feature for investors who want to have options. They offer four free trading platforms and three mobile apps, so you can trade on the go.

If you're looking for a provider with good customer service, Charles Schwab is definitely worth considering. They have a reputation for being helpful and responsive, which is essential for any investor.

Here are a few key facts about Charles Schwab's customer service:

Charles Schwab has a strong reputation for customer service, and it's clear why: they offer a range of options for getting help, including telephone helplines and in-app chat functions.

Robinhood is a popular online brokerage platform that has disrupted the industry with its easy-to-use app-based platform and competitive margin offerings.

Robinhood offers $0 stock and ETF trades, as well as $0 options trades. Its mobile app is designed for trading, but it also offers basic browser-based trading.

Robinhood has seen huge success, with a total customer asset base of $200 billion and 24.8 million active brokerage accounts.

One of the key benefits of Robinhood is its high interest on uninvested cash, which is a great perk for traders who don't always have their money invested.

However, Robinhood's customer support has been a weak point in the past, although it has improved over the years.

Here are some key features of Robinhood:

Firstrade is a great option for investors who want to trade stocks and ETFs without any fees. They charge $0 for stock and ETF trades.

One of the standout features of Firstrade is its options trading platform, which is free to use. This is a big plus for options traders, who often get hit with contract fees elsewhere.

Firstrade offers four different trading platforms, including a mobile app and an options-focused platform called Options Wizard. This tool helps traders analyze strategies and see potential gains and losses.

If you're an international investor, Firstrade is a good choice because they accept clients from dozens of countries. Just keep in mind that they pay low interest on uninvested cash.

Here are some of the key features of Firstrade at a glance:

TastyTrade is a great option for advanced traders who want to take their skills to the next level. TastyTrade offers stock/ETF trades for $0, making it an attractive choice for those looking to save on trading costs.

The platform is geared toward advanced traders, offering a Follow Feed that lets you track fellow investors' trades and the ability to view multiple charts at once. This level of functionality is perfect for traders who want to stay on top of the market.

Options traders will appreciate TastyTrade's contract fees, which are lower than most brokers. This can add up to significant savings over time.

TastyTrade's mobile app has earned a rare five-star rating from us, making it a great choice for traders on-the-go.

Here's a breakdown of TastyTrade's fees:

Good to know that TastyTrade pays low interest on uninvested cash, but research offerings from external providers are slim compared to the competition.

Oanda is a popular online trading platform that offers a range of features and tools for traders. It's available for web, desktop, and mobile devices, making it easy to trade on the go.

Oanda's fxTrade platform is available for web, desktop, and mobile, giving traders flexibility and convenience. You can also use the MetaTrader4 (MT4) platform if you prefer.

One of the standout features of Oanda is its rate data currency calculator, which provides real-time rates for major FX pairs and 25 years' of historical data across 38,000 FX pairs. This is a valuable tool for traders who want to make informed decisions.

Oanda offers trading in over 70 FX pairs, starting at 0.6 pips, and also provides CFDs in FX, Indices, Metals, Commodities, and Bonds. This gives traders a range of options to choose from.

Here are some key features of Oanda at a glance:

It's worth noting that Oanda charges a currency conversion fee of 0.5% mark-up/down on the midpoint price of the applicable currency at the time of conversion. Inactivity fees also apply, so it's essential to keep your account active if you don't plan to trade frequently.

Maybank Securities offers a flexible trading experience with no minimum deposit required. This means you can start trading with any amount you're comfortable with.

One of the benefits of using Maybank Securities is that you can enjoy lower brokerage rates if you prefund your trades. This can help you save money on trading costs.

The brokerage rates are actually quite high, with a commission fee of S$25 and US$20. This might be something to consider if you're a frequent trader.

Maybank Securities provides a demo account for practice or experimentation, which is perfect for new traders who want to try out different strategies without risking real money.

You can access the trading platforms from anywhere with the desktop and mobile trading platforms available. This added flexibility is convenient for traders who need to stay on top of their trades while on the go.

The Multi-Currency e-Pay payment service is free to use, with no fees or charges. This is a great feature for traders who need to make international transactions.

UOB Kay Hian offers a convenient trading experience with its features. No minimum deposit is required to start trading.

One of the notable features of UOB Kay Hian is its availability in 7 different markets. This provides traders with a wide range of options to choose from.

Another advantage of UOB Kay Hian is its use of PayNow for instant trade funding. This allows traders to quickly and easily fund their trades.

However, UOB Kay Hian also has some drawbacks. High commission fees of S$25 and US$20 apply, making it more expensive than other brokers.

The approval period for opening an account with UOB Kay Hian can be quite long, taking 5 working days to process. This may cause delays for traders who need to start trading quickly.

Here are the key features of UOB Kay Hian at a glance:

Money Owl offers a user-friendly investment option with a minimum lump sum of S$100 or monthly payments starting from S$100. This flexibility makes it an attractive choice for those just starting out with investing.

You can choose from 5 different portfolio types: Equity, Growth, Balanced, Moderate, and Conservative. These options allow you to tailor your investment strategy to suit your risk tolerance and financial goals.

The platform fees are absorbed by Money Owl, which means you don't have to worry about additional costs eating into your returns. However, it's worth noting that only 3 funds from Dimensional Fund Advisors make up the portfolios, which may limit diversification.

Money Owl's WiseSaver feature allows you to grow your savings at low risk with high liquidity, making it a great option for those who want to keep their money easily accessible. To get started, you'll need to complete a lengthy risk assessment, which will then reveal the recommended portfolio for you.

Please note that applications from certain nationalities or tax residencies may be excluded, so it's essential to check the eligibility criteria before signing up.

Plus500 is a solid choice for traders looking for a wide range of financial instruments. The platform offers over 2,000 CFD financial instruments across 7 categories.

One of the standout features of Plus500 is its lack of withdrawal and deposit fees. This means you can focus on trading without worrying about extra costs eating into your profits.

Plus500 also provides free real-time price quotes, giving you up-to-date information to make informed trading decisions.

The platform's flexibility is another plus, with both web and mobile platforms available for added convenience.

If you're new to trading, Plus500 offers a demo account for practice and experimentation. This is a great way to get a feel for the platform without risking any real money.

However, be aware that there is a monthly fee of US$10 after 3 months of inactivity. This is something to keep in mind if you're not planning to trade regularly.

It's also worth noting that the guaranteed stop order type is subjected to a wider spread. This means you may not be able to get the exact price you want, which can be a consideration for some traders.

Additionally, overnight funding and currency conversion fees apply. These are costs that can add up over time, so it's essential to factor them into your trading strategy.

Etoro is a trading platform with no account opening or management fee, but a $5 withdrawal fee applies.

It offers a wide choice of shares, with over 5,500 available, as well as 500 ETFs and a range of indices.

You can trade online or via the eToro app, and advanced trading tools such as stop losses and limit orders are available.

The platform also offers social and copy trading options, allowing you to interact with more experienced investors and learn from their strategies.

However, it's worth noting that eToro does not offer support by telephone, although live chat and messaging facilities are available.

Here are some key features of the eToro platform:

Note that some fees do apply, including a £3.92 ($5) withdrawal fee and an inactivity fee of $10 per month after 12 months with no log-in activity.

To choose the best online brokerage account for your needs, you'll want to consider several key factors. One of the most important is the range of investment options available, which can vary significantly between brokers. For example, some brokers like Fidelity and Charles Schwab offer a vast array of investments, including stocks, ETFs, mutual funds, and individual bonds.

When it comes to trading costs, many brokers now offer commission-free trades of stocks and ETFs, but some may still charge fees for options contracts. Interactive Brokers, for instance, offers a range of investment options and commission-free trades, but its fees for options contracts can be higher than some other brokers.

Here's a comparison of some of the top online brokerage accounts:

Keep in mind that each investor is unique, and what matters most to you may not be the same for someone else. By considering your individual needs and preferences, you can make an informed decision about which online brokerage account is best for you.

If you're looking for a brokerage platform with low fees, Interactive Brokers is a great option. They offer stock/ETF trades for $0 and options trades for $0.65 per contract. For advanced traders, Interactive Brokers has seven different trading platforms to choose from.

Interactive Brokers is ideal for skilled, active stock traders due to its fast trade execution and international trade capabilities. However, their website can be difficult to navigate for beginner traders, so it's essential to understand the jargon.

For traders who want to hold stocks for the long term, consider using a CDP-linked account to avoid custodian fees. This can save you money in the long run.

Here's a comparison of some popular brokerage platforms:

Interactive Investor is a good choice for traders looking for a low-cost platform and a wide choice of investments. They offer a flat platform fee and a wide range of investments, including access to 17 overseas markets for share traders.

Trading 212, on the other hand, is a UK fintech that offers commission-free trading and a wide choice of investments. They also offer fractional share ownership and no trading fees or platform charges.

Ultimately, the best brokerage platform for you will depend on your individual needs and preferences. Be sure to research and compare different platforms before making a decision.

Syfe is a great option for those looking for a hassle-free investment experience. All-inclusive management fees are based on your account tier, so you only pay what you need to.

Syfe offers a range of specialized portfolios to choose from, including REIT+, Cash+, Select Themes, and Select Custom. This means you can tailor your investment to your specific goals and risk tolerance.

One of the best things about Syfe is that there's no minimum investment amount required, making it accessible to everyone. You can start investing with any amount you like.

For those who want personalized advice, Syfe's wealth experts are on hand to provide guidance and support. This can be especially helpful for those new to investing.

Here's a summary of Syfe's key features:

Singapore is a great place to invest, with many online brokerages to choose from. You can buy stocks listed on the Singapore Exchange or on overseas markets.

To decide on the best online brokerage, consider your investment decisions and personal preference. If you're looking to buy Singapore stocks, you can check out the article on the best brokerage accounts in Singapore.

In Singapore, you can choose between a CDP-linked account or a custodian account. A custodian account is required for buying or selling overseas stocks.

CDP-linked accounts are suitable for purchasing Singapore stocks, but custodian accounts are necessary for international trades.

Stocks vs CFD - What's the Difference?

Buying stocks means you take ownership of the shares, either in your custodian or CDP account.

Trading CFDs, on the other hand, involves speculating on the share price by buying a contract between you and the CFD provider.

With CFDs, you don't have to pay the full market value of the share to make a trade.

You can use leverage when trading CFDs, which means you don't have to fork out the full market value of the share.

When choosing an online broker, it's essential to consider the fees associated with their services. Some providers charge a flat platform fee, such as IG, which costs £96 per year, while others have a tiered platform fee structure, like Fidelity, which charges 0.35% of the portfolio value.

Fees can vary greatly depending on the provider and the services you use. For example, IG charges a flat platform fee of £96 per year, but it drops to £0 for users who make at least three trades per quarter. On the other hand, Fidelity has a non-tiered platform fee structure, where you pay 0.35% of the portfolio value, regardless of its size.

Some online brokerages charge inactivity fees if you don't access your account for a certain stretch of time. For instance, if your provider charges inactivity fees, you may want to set yourself reminders to regularly login and check on your investments.

Trading fees can also be a significant cost. IG charges a trading fee of £3.99 for UK and US shares, while Fidelity charges £7.50. Some providers charge a reduced rate if you make a certain number of trades in a given month.

Here's a breakdown of the trading fees for some popular online brokers:

Foreign exchange fees can also add up, especially if you're trading in currencies other than pounds sterling. Most online brokerages charge a fee for switching your money back and forth into different currencies, which can range from 0.5% to 1.5% of the transaction value.

Withdrawal fees are another cost to consider when choosing an online broker. Some providers charge a fee when you withdraw money from your trading account, which can be charged at a flat rate or as a percentage of the amount withdrawn.

In conclusion, investing fees can vary greatly depending on the provider and the services you use. It's essential to carefully review the fees associated with each online broker before making a decision.

Choosing a broker is a crucial step in selecting the best online brokerage account for you. You can choose a brokerage firm based on factors such as fees, investment products available, market access, perks given through promotions, tools and indicators provided, investment insights and educational materials available, and platform interface and user experience.

Research shows that many online brokers have eliminated fees for options contracts and offer commission-free trades of stocks and ETFs. However, other factors such as access to a range of investments and the quality of the research may be more valuable than saving a few bucks when purchasing shares.

To help you choose the right online brokerage platform for investment, consider your risk appetite, investment horizon, and financial goals. If you plan to make frequent trades, look for a brokerage that offers the lowest fees. If you plan to hold stocks for the long term, consider using a CDP-linked account to avoid paying custodian fees.

Brokers often entice new customers with deals, such as a cash bonus on certain deposit amounts.

It's not wise to choose a broker solely on its promotional offer, as a high commission over the long term could easily wipe out any initial bonus or savings.

To make the most of promotions, consider the following factors:

Viewing the best brokerage promotions can help you make an informed decision when choosing a broker.

When choosing a broker, consider factors such as fees, investment products available, market access, and platform interface and user experience. These factors will help you find a broker that meets your needs and goals.

Fees can vary greatly between brokers, so it's essential to research and compare costs. Some brokers offer commission-free trades, while others may charge a flat fee or a percentage of your investment. Interactive investor, for example, offers a flat platform fee, which may appeal to investors with higher value portfolios.

Investment products available are also crucial to consider. Look for a broker that offers a wide range of investments, such as stocks, ETFs, mutual funds, and bonds. Interactive investor, for instance, offers access to 17 overseas markets for share traders.

Market access is another key factor to consider. Some brokers may offer access to specific markets or regions, while others may have restrictions. Interactive investor, for example, offers access to 18 markets, including the UK, US, Canada, and Europe.

Platform interface and user experience are also important considerations. You want a broker that offers a user-friendly platform that meets your needs and preferences. Some brokers may offer advanced features, such as an advanced order panel, while others may have a more basic interface.

Here are some key factors to consider when choosing a broker:

By considering these factors, you can find a broker that meets your needs and helps you achieve your financial goals.

Using your online brokerage account is relatively straightforward. You can trade UK shares on a real-time basis from 8am to 4.30pm when the London Stock Exchange is open.

To get started, log into your account and search by company name or 'ticker' to select the share you want to buy. You'll need to have a safety net of cash savings in place before investing.

Most online brokerages allow you to invest as much or as little as you like based on your budget and personal preference. Some, however, impose a minimum investment amount, such as Hargreaves Lansdown's £100 minimum for purchasing funds.

It's worth noting that some online brokerages have no account minimum, so you can start investing with just a small amount of money. For example, many online brokers have no account minimum, and all it takes to get started is enough money to cover the cost of a single share of a stock.

You can also consider investing in exchange-traded funds (ETFs), which are essentially mutual funds that are bought and sold like individual stocks. ETFs often have lower investment minimums, and some brokers even offer fractional shares of ETFs.

Here are some key things to keep in mind as you start using your online brokerage account:

Investment options are a crucial aspect of choosing the best online brokerage account. You can invest in a wide range of products, including stocks, Exchange Traded Funds (ETFs), bonds, CFDs, indices, forex, commodities, and derivatives.

Interactive investor, for instance, offers 40,000+ shares, ETFs, funds, investment trusts, and access to 17 overseas markets for share traders. Trading 212, on the other hand, offers commission-free trading with no trading fees or platform charges.

Here are some of the investment options available on the platforms mentioned:

These are just a few examples of the many investment options available on online brokerage platforms. It's essential to research and compare the options to find the one that best suits your needs and goals.

Uninvested cash can start to accumulate in your brokerage account from activities like dividend payments. You'd be surprised how quickly it adds up, and it's worth considering what rate your brokerage firm pays on this uninvested cash.

Some brokerage firms pay a decent rate, with some offering as high as 4% or more. However, many companies don't pay interest on uninvested cash at all, so it's essential to check the details.

Trading 212, for instance, pays interest on cash balances, allowing you to earn interest on your idle funds. This is a great feature, especially if you're not actively trading or investing.

It's worth noting that not all brokerage firms publish their interest rates, so you might need to dig through the fine print to find this information. Trading 212, however, is transparent about their interest rate, making it easier for investors to make informed decisions.

Here's a quick rundown of some key points to consider when it comes to uninvested cash interest rates:

If you're looking to invest in the stock market, you have a wide range of options to choose from. Some online brokerage accounts offer a flat platform fee, while others charge a tiered fee structure.

You can invest in stocks, which are shares of a company's ownership. Trading UK shares and funds comes with a fee of £8, but this drops to £3 if you made at least three trades the previous month. Trading US shares comes with a higher fee of £10, but is free if you made more than two US share trades in your previous month.

Some platforms also offer Exchange Traded Funds (ETFs), which are a type of investment fund that tracks an index, sector, or commodity. Trading 212 offers a wide choice of investments, including over 13,000 global stocks and funds, along with the option to buy fractional shares.

You can also invest in bonds, which are debt securities issued by companies or governments. IG offers a flat platform fee of £96 per year, but drops this platform fee altogether for users who make at least three trades per quarter (12 per year).

Here are some popular investment options:

Some platforms also offer a wide range of investment options, including access to 17 overseas markets for share traders. Trading 212, for example, offers 13 different currencies within the account, including pound sterling, US dollars and euros, and interest is paid on cash balances.

You can also invest in ETFs, which are a type of investment fund that tracks an index, sector, or commodity. Fidelity offers a decent selection of investments, and a middle-of-the-range share trading fee of £7.50.