Online trading has taken the world by storm, and stock trading is surely one of the most famous types of trading. A large number of people are interested in diving into online stock trading.
But the major problem they have to face is the selection of the right broker. It is not necessary that if a broker is most suitable for your friend, then it will also be for you. It depends on the level of you and the features you need. Therefore, you need to first check out all the features before choosing one. If you want to know more, let’s delve into the article.
List of 5 Best Stock Brokers
If you are short of time and don’t have spare time to analyze all the stock trading brokers. Then there is no need to take tension. Here we are going to enlist the five best online stock brokers.
Fidelity
Fidelity is one of the best brokers that offers you several notable features. The best thing about this platform is that there is no condition of minimum deposit, and commissions are low as well.
Furthermore, their customer support is also excellent. It doesn’t matter whether you are a newbie or an expert trader; you will surely get the benefit. But especially for beginners, it is more favorable because it is pretty convenient to use.
In addition, it provides a bunch of tools for the traders as well. Besides this, the broker also has some amazing screening tools that make this broker a great choice to go for.
Pros
- Amazing trading platforms and research
- Availability of international and US stocks
- EFTs and US stocks are commission free
Cons
- Unavailability of futures and crypto
- The account verification process is slow
Charles Schwab
Charles Schwab is another great stockbroker. It offers products and tools for all types of traders and investors, and you can do ETF trading on this platform. There is no minimum deposit, and trading of stock and EFT is free.
When it comes to the educational material, Charles Schwan is performing an excellent job. They provide a wide range of news, calculators, and research and offer screeners for EFTs, stocks, and mutual funds.
The list of financial products provided by Charles Schwab is enough for the average traders, but it is surely not enough for the veteran traders who want to trade in crypto, forex(FX), and futures markets.
Pros
- Offer multiple platforms
- Free EFT and stock trading
- Physical branch network
Cons
- Only provide bitcoin futures option
TD Ameritrade
TD Ameritrade is an excellent stockbroker with impeccable features and worth enough to be on our list of top 5 stock brokers. It is favorable for novice investors. Like all top-notch brokers, the trading in EFTs and stock is free of cost, and there is no minimum investment.
The education provided by TD Ameritrade is one of the best in the industry. Additionally, they offer a wide range of platform options such as web-based mobile apps and thinkorswim. So, depending upon your experience and trading skills, you can choose anyone.
Moreover, you also get a lot of tradable products if you choose this platform that includes bonds, mutual funds, bonds, option contracts, EFTS, etc.
The great thing is that TD Ameritrade also offers Bitcoin Futures, so if you want to get cryptocurrency exposure, then you should give it a try.
Pros
- Excellent educational material
- Mobile applications and web platforms
- Offers multiple tradeable products and platforms
Cons
- Not offering fractional shares.
- Funds fees and account fees are higher
E-Trade
Whether you are an experienced trader or a beginner, you will surely benefit from E-trade as it offers great educational material. On the web-based platforms and mobile apps, you can get market commentary, real-time quotes, exchange-traded fund screeners, stock, and a great help for account management.
E-trade also offers the Power E-trade platform that is ideal for active users because it has drawing tools, technical studies, and several other features.
When it comes to tradable securities, E-trade offers you an extensive range of options, including bonds, stocks, futures, EFTS, mutual funds, etc.
You can easily contact them in case of any issue as their service is available 24/7 via chat, e-mail, and phone.
Pros
- The tool is convenient to use
- Extensive range of tradable products
- Availability of mobile app
Cons
- Navigation can be challenging.
Final Thoughts
Well, that’s all about the best stock brokers. Always keep in mind that the stock market is quite challenging to understand. There are a lot of risks associated with it; therefore, always make sure that you have learned about it in the best way; otherwise, you may have to face a lot of complications. So, take every step wisely.
If you are using any of the above-mentioned stockbrokers, tell us about your experience in the comments section.
