Best brokerage accounts 2024

2 Best Brokerage Firms in 2024


The 2 best brokerage accounts in 2024 that offer low trading commissions and the highest quality of investment services


Best Brokerage Accounts in 2024


In 2024, we named Charles Schwab and Webull the "2 Best Brokerage Firms" for self-directed (do-it-yourself) investors. Below you will find their commissions and fees, ratings in various categories, promotions as well as brokerage account review links.


Pricing


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Margin
Rate
Maintenance
Fee
Annual IRA
Fee
Charles Schwab $0 $49.95 ($0 to sell) 13.575% $0 $0
WeBull $0 na 9.74% $0 $0


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Charles Schwab
WeBull


Promotions


Charles Schwab: $0 commissions + satisfaction guarantee at Charles Schwab.

Webull: Up to 75 FREE fractional shares when you make a deposit at Webull.





We really like Charles Schwab for its software and customer service. In the former area, Charles Schwab has a very good website, two powerful mobile apps, and a professional-level desktop program. Amazingly, none of these have any minimums or trading requirements. Let’s take a look at each one of them.

Before we even get to the desktop platform, we find some pretty powerful trading tools on Charles Schwab’s website. There is a trade bar in the bottom of the site. Besides providing real-time market data, the widget can send orders to the exchanges.


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A trade ticket with more advanced orders will be found on the website itself (hover over the Trade tab and select Stocks & ETFs from the drop-down menu). This order ticket has direct-access routing and conditional orders (like one cancels another and bracket orders). Regular order types include trailing stop, in both dollar and percent terms. All-or-none and fill-or-kill instructions are available.

Moving on to mobile trading, we get two mobile apps, both of which are very good. The first has a lot of educational and research tools, including an economic calendar, news articles, market movers, and more. Both articles and videos are available.


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The app has additional mobile tools, like check deposit and how-to videos. Examples include:

- Stock Splits Explained
- Transferring Funds
- Short selling

Charles Schwab’s other mobile app is called thinkorswim. It has very advanced charting and order entry. On the charting side, there are 6 plot styles. These include Heikin Ashi and candle trend. There are tons of customization features, and a chart can be rotated horizontally.

For order entry, the thinkorswim app has a toggle switch that can be used to easily switch between buy and sell. There are 6 order types (market on close and limit on close are two unusual ones), and several time-in-force choices. There are multiple extended-hours choices, which is another great feature at Charles Schwab.

Amazingly, both apps have Level II quotes, and Charles Schwab charges nothing for subscribing to this data.

Not to be outdone by its really good mobile apps, Charles Schwab has a desktop platform with a lot of the same features that its thinkorswim app has, which is probably why the software is called thinkorswim.


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The thinkorswim desktop system has live streaming of video news and hundreds of technical studies (so does the thinkorswim mobile app). The primary difference between these two is that a few additional features will be found on the desktop system, such as small video games. Both platforms have simulated trading for risk-free practice.

And then there’s the company’s customer service department. In an age when many brokerage firms are cutting back in this area, Charles Schwab has maintained its level of service. This includes 24/7 phone support. Besides English, there are phone numbers for Chinese, English, and overseas customers.

For clients located in the United States, Charles Schwab has a large network of brick-and-mortar locations. There are well over 350 offices located in many states. Although not open around the clock, these small offices can do pretty much everything a phone agent can.

Outside of regular office hours, Charles Schwab customers can find assistance on the broker’s website. Charles Schwab is one of the few brokerage firms left to have both human and robot chat services. To get a human agent on the line, just type “human” in the robo chat widget. The chat tool will be found on the Contact Us page after logging in. An internal messaging tool is also available on the site.

At Charles Schwab stock and ETF trades are free, and the broker offers over 7,000 mutual funds, including over 4,400 free to trade funds.

Read Charles Schwab Review

Promotion: $0 commissions + satisfaction guarantee at Charles Schwab.


Visit Schwab Website





Although Charles Schwab does have a lot of great features, two services that are missing are high interest on cash balances and full extended hours trading. Both of these great amenities are available at our second best brokerage firm called Webull. The broker currently pays 5% APY on cash without any restrictions and customers can trade full pre-market (4:00 AM-9:30 AM ET) and after hours (4:00 PM-8:00 PM ET) sessions.


Best brokerage accounts 2024


Stock, options, and ETF trades at Webull have no commissions. The brokerage firm is compensated via payment for order flow, which is possible in part because of the bid-ask spread on these assets.

On top of the $0 commissions on equity trades, Webull customers also get to trade these securities in whole dollars rather than in whole shares, which is the older system. This time, there is a $5 minimum on the buy side. On both sides, there is also a 0.00001 share minimum.

Fractional shares at Webull can be day traded, which means that small investors can day trade here (PDT requirements still apply). With a very small share minimum, day trading carries a smaller amount of risk.


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In the event of dividends, fractional shares at Webull receive cash payments in proportion to the dividend. For example, a position of 0.25 shares will receive 25% of the per-share dividend. Stock splits are handled in a similar fashion.

Placing whole-share or fractional-share trades at Webull is a fairly straightforward process, thanks to the company’s very good software platforms. There are three of them: browser platform, desktop system, and mobile app. Any of these three can place fractional trades for equities.

The broker’s software is another reason to be bullish. Let’s have a look at all three platforms, starting with the mobile app.


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At the bottom of the app is a menu. One of the choices is a watchlist. Here, all equities can be added. Multiple lists can be created, and it’s easy to edit them. Tapping on an entry generates the asset’s profile. Here, there is a blue Trade button. Fractional-share trades must be placed as market orders on the mobile app. The trade amount must be less than the market price of one share.


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The mobile watchlists sync with the company’s browser and desktop platforms. This time, double-clicking on an entry generates the profile, and here the order ticket is already populated on the desktop platform. On the browser platform, you need to click on the Trade icon in the vertical menu (on the left-hand side) or right-click on a chart and select a trade link.

Although all three platforms are very good, only the mobile app has digital bulletin boards where customers can discuss the day’s market activities and specific assets. This is another feature that is very unique to Webull and causes us once again to really like this brokerage firm.

Read Webull Review

Promotion: Up to 75 FREE fractional shares when you make a deposit at Webull.


Visit Webull Website




Best Brokerage Accounts Recap

Charles Schwab and Webull are the best brokerage firms in 2024 we absolutely love. They have major strengths, although these advantages tend to be in different areas. Obviously, choosing the right brokerage firm is of paramount importance in achieving the investment experience you seek. With this article, finding the right one should now be a much easier task.


Best Brokerages Promotions


Charles Schwab: $0 commissions + satisfaction guarantee at Charles Schwab.

Webull: Up to 75 FREE fractional shares when you make a deposit at Webull.


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.