Online Trading Firms

Online Trading Firms



This is the list of the best online trading firms in the U.S. in 2014. All top online trading companies listed here are members SIPC/FINRA - client accounts are protected for up to $500,000.




4-star brokerage firm rating



Thinkorswim review

Thinkorswim Pricing

InvestmentsCommissions
Stocks and ETFs $9.99
Stocks and ETFs broker assisted $49.99
Stocks and ETFs Interactive Voice Response (IVR) Telephone System $34.99
Options $9.99 + $0.75 per contract
No-load mutual funds $49.99
Treasuries at auction $25 flat fee
All other bonds and CMOs, CDs on a net yield basis
Futures $3.50 per contract (inclusive of exchange fees)

Investments stocks, bonds, mutual funds, options, ETFs, bonds, CDs, UITs, futures and forex
Thinkorswim\TOS minimum deposit to open account $0 for cash account, $2,000 for margin account
FeesThinkorswim fees

Thinkorswim Advantages

  • ThinkOrSwim is now part of TD Ameritrade, one of the largest brokerages in the U.S. with many local branches
  • No additional commission on stocks under $2, large orders, or extended hours trading
  • Best trading platform in the industry
  • Free virtual trading
  • See what other traders are doing on myTRADE trader community
  • No-fee retirement accounts
  • No maintenance or inactivity fees
  • Free streaming quotes, including Level II
  • Rich selection of independent research offered through S&P, Morningstar and other firms
  • Large number of mutual funds - over 13,000 available

Online Trading Firm Review


Thinkorswim Review

Thinkorswim Promotion Offer - 60 days free trading + up to $600:


Trade free for 60 days + Get up to $600.



4-star brokerage firm rating



Etrade Review
Etrade Pricing

ProductPrice
Stocks and ETFs $9.99 ($7.99 if making 150+ trades per quarter)
Stocks and ETFs broker assisted $34.99
Options $9.99 + $0.75 per contract ($7.99 + $0.75 if making 150+ trades per quarter)
Mutual funds $19.99
Futures contracts $2.99 per contract, per side + fees
Fixed Incomemarkup or markdown and any transaction fee will be included in the price quoted
Forex No commissions. Etrade receives compensation through the bid/ask spread.
Bonds$1 per bond (minimum $10, maximum $250) for online secondary market trades. Includes Agency bonds, Corporate bonds, Municipal bonds, Brokered CDs, Pass-thrus, CMOs, Asset Backed Securities.

Investments stocks, bonds, mutual funds, futures, forex, fixed income, options, ETFs
Etrade minimum deposit to open account $500 for non-retirement cash account, $0 for retirement cash account, $2,000 for margin account
FeesEtrade fees

Etrade Advantages

  • No account maintenance or inactivity fees
  • Large and well established company
  • Powerful trading tools
  • No IRA account fees, and no minimums with electronic statements and confirmations
  • Low minimums to open accounts: $500 for cash account, $0 for retirement cash account, $2,000 for margin account
  • Banking products available: checking, savings, money market accounts, CDs, and credit cards
  • No surcharges on large orders or penny stocks
  • Great research amenities from S&P, MorningStar, Thompson Reuters, Credit Suisse, Smart Consensus
  • Access to trading on 40 foreign exchanges
  • Free streaming quotes
  • Very broad selection of products: 8,000 mutual funds, every ETF sold, over 30,000 bonds, securities from 77 international markets, 1,300 no-load, no-transaction fee mutual funds, 90 commission-free ETFs

Online Trading Firm Review


Etrade Review

Etrade Promotional Code - 60 days of free trading:


Trade free for 60 days + get up to $600.


4-star brokerage firm rating



Charles Schwab review
Charles Schwab Pricing

InvestmentsCommissions
Stocks and ETFs $8.95
Stocks and ETFs broker assisted $33.95
Stocks and ETFs phone trades $13.95
Options $8.95 + $0.75 per contract
Mutual funds $76 to buy, $0 to sell. OneSource® Mutual Funds - free
CDs, Corporate Bonds, Municipal Bonds, Government Agencies, Zero-Coupon Treasuries, including STRIPS and Mortgage-Backed Securities $1 per bond, $10 minimum, $250 maximum
Preferred Stocks and REITs $8.95
Commercial Paper and Foreign Bonds, Unit Investment Trusts call for pricing

Investments stocks, bonds, mutual funds, futures, Treasury issues, options, CDs, insurance, ETFs, annuities, non-U.S. securities and ADRs, WEBs and Canadian foreign orders
Charles Schwab minimum deposit to open account $1,000
FeesCharles Schwab fees

Charles Schwab Advantages

  • Personal guidance is available at no additional cost
  • 300+ offices for personal visits and deposits
  • Great, varied research
  • Rich selection of investment products (large number of mutual funds - over 14,500)
  • No surcharges on penny stocks, large orders, or after-hours trading
  • No account maintenance or inactivity fees
  • Very good customer service (but no chat)
  • Free DRIPs (dividend reinvestment plans)

Online Trading Firm Review


Charles Schwab Review

Charles Schwab Promotion Code:


None right now.



4-star brokerage firm rating



Fidelity review
Fidelity Pricing

InvestmentsCommissions
Stocks and ETFs $7.95
Stocks and ETFs broker assisted $32.95
Stocks and ETFs FAST (automated service phone) $12.95
Options $7.95 + $0.75 per contract
Mutual funds $75
Bonds ((U.S. Treasury Auctions, including TIPS Auctions, U.S. Treasury Bills, Notes), primary market CDs on a net yield basis
GSE (Agency Securities), secondary CDs, Municipals, Corporates (BBB- or higher), CATS/TIGRS, Corporates (BB+ or lower) $1 per bond ($250 max.; $50 max if maturing in one year)
Commercial Paper $50 per transaction

Investments stocks, bonds, mutual funds, options, commercial paper, forex, foreign stocks, UITs, precious metals, ETFs
Fidelity minimum deposit to open account $2,500
FeesFidelity fees

Fidelity Advantages

  • Great research tools with large selection of independent research from 12 firms
  • Low-cost Fidelity mutual funds
  • Free DRIPs (dividend reinvestment plans)
  • Rich selection of investment products
  • Good banking services
  • No surcharges, except for $0.0192 per $1,000 of principal in addition to commission that is added to sell orders

Online Trading Firm Review


Fidelity Review

Fidelity Promotion Code:


None right now.
This article was updated on 2/4/2014.


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