Brokerage Firm Size

10 Largest Discount Brokerage Firms Ranked by Size


Largest U.S. online stock broker companies ranked by size, number of clients, and assets under management.



Brokerage
Website
Number of Clients,
AUM and Review


Fidelity Investments rating

Fidelity



Fidelity

Fidelity Investments serves around 25 million individual investors and 23.3 million brokerage accounts.

Fidelity Investments has close to $2.1 trillion in total managed assets. Mutual fund assets under management = $1,804.7 billion. Trust/other assets under management = $255.1 billion. Total customer assets at Fidelity = $5,428.0 billion.

Pricing

$4.95 for stocks and ETFs; $4.95 + $0.65 per contract for options; $49.95 for mutual funds. Read Fidelity Review

Promotion

Get 500 free trades with $100,000+ deposit.



TD Ameritrade rating

TD Ameritrade



TD Ameritrade

TD Ameritrade serves over 10 million brokerage accounts. This number includes over 3 million recently purchased Scottrade accounts.

TD Ameritrade has over $1 trillion in total managed assets.

Pricing

$6.95 for stocks and ETFs; $6.95 + $0.75 per contract for options; $49.99 for mutual funds. Read TD Ameritrade Review

Promotion

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



Charles Schwab rating

Charles Schwab



Charles Schwab

Charles Schwab serves around 10 million brokerage accounts.

Charles Schwab has close to $2.61 trillion in total managed assets. 1.6 million corporate retirement plan participants. 1.1 million banking accounts. 7,000 RIAs. Total customer assets = $2.73 trillion.

Pricing

$4.95 for stocks and ETFs; $4.95 + $0.65 per contract for options; $76 to buy (free to sell) for mutual funds. Read Charles Schwab Review

Promotion

Make $100,000 deposit and get 500 commission-free online equity and options trades.



Scottrade rating

Scottrade


Scottrade

Scottrade serves around 3 million brokerage accounts. It is now owned by TD Ameritrade.

Scottrade has over $300 billion in total customer assets.

Pricing

$6.95 for stocks and ETFs; $6.95 + $0.70 per contract for options; $17 for mutual funds. Read Scottrade Review



Etrade rating

E*trade



Etrade

Etrade serves around 3.7 million brokerage accounts. This number includes recently purchased OptionsHouse and Capital One Investing accounts.

Etrade has close to $307 billion in total customer assets (including $3.7 billion from the OptionsHouse acquisition).

Pricing

$6.95 for stocks and ETFs; $6.95 + $0.75 per contract for options; $20 for mutual funds. Read Etrade Review

Promotion

At E*TRADE, get $6.95 trades + 65₵ per options contract.



Vanguard rating

Vanguard



Vanguard

Vanguard serves 20 million investors, in about 170 countries (mostly through the mutual funds). Vanguard brokerage service has much fewer clients, probably in 2 to 3 million range.

Vanguard has close to 3.6 trillion in global assets under management (mostly through the mutual funds).

Pricing

$7 for the first 25 stock or ETF trades, $20 for subsequent trades for account with less than $50,000 invested in Vanguard products.

$20 + $1 per option contract (Voyager: $7 + $1 per contract; Voyager Select and Flagship: $2 + $1 per contract).

Vanguard mutual funds - free. All others: Standard - $35; Voyager and Voyager Select - $20; Flagship - $8. Read Vanguard Review

Promotion

None right now



Merrill Edge rating

Merrill Edge



Merrill Edge

Merrill Edge serves over 1.4 million brokerage accounts.

Merrill Edge has over $114 billion in total assets under management.

Pricing

$6.95 for stocks and ETFs; $6.95 + $0.75 per contract for options; $19.95 for mutual funds. Read Merrill Edge Review

Promotion

Get up to $600 when you open new Merrill Edge account with at least $20,000.



Ally Invest rating

Ally Invest


Ally Invest

Ally Invest serves over 500,000 brokerage accounts. The company has been bought by Ally Bank.

Ally Invest has over $3 billion in total assets under management.

Pricing

$4.95 for stocks and ETFs; $4.95 + $0.65 per contract for options; $9.95 for mutual funds. Read Ally Invest Review

Promotion

Up to $3,500 cash bonus + commission free trades for new accounts.



Firstrade rating

Firstrade



Firstrade

Firstrade does not disclose number of clients or total assets under management.

Pricing

$0 for stocks and ETFs; $0 per contract for options; $ for mutual funds. Read Firstrade Review

Promotion

$0 commissions + up to $200 in transfer fee rebates.



Wellstrade rating

Wellstrade



WellsTrade

Wells Fargo does not disclose how many customers their brokerage unit, Wellstrade, has or amount of assets under management.

Wells Fargo Bank has $300 billion in client deposits, while although large, is quite a bit lower than the company’s brokerage assets. The investment banking unit earns more than $3 billion in gross sales every year with less than 5,000 employees. That’s around $600,000 per worker.

The financial behemoth generates over $22 billion in revenue each year, which results in a pre-tax profit of nearly $9 billion. The company was ranked as one of the largest American corporations on Fortune magazine’s rankings.

Pricing

$5.95 for stocks and ETFs; $5.95 + $0.75 per contract for options; $35 for mutual funds. Read WellsTrade Review

Promotion

None right now




Discount Brokerage Firms Ranked by Size


In the table above we list 10 largest brokerage houses by size. These online brokers are ranked according to their total number of customers and amount of assets they had in 2018. Some of the companies do not reveal how many clients they have so we had to guesstimate. Brokerages that have their shares traded on the stock market have to provide the amount of their assets in the financial statement - that's the law.

This list is very similar to the one from the previous years, with one notable exception - Ally Invest. The company have merged with its competitors, Zecco and MB Trading, and the mergers created one of the largest brokerage companies in the country with over 500,000 clients. With pricing much lower than at the five larger firms, it is now a formidable competitor though it still has a lot of ground to make up - the largest companies have millions of customers.

The list of top five largest discount brokers by size has not changed since last year, but it is likely to happen if TD Ameritrade decides to discontinue Scottrade brand. Fidelity Investments is at the first spot with over 20 million clients. The veteran of investment industry, Charles Schwab, was third with close to 10 million customers. Our highest rated online broker - TD Ameritrade - probably surpassed Schwab after acquiring Scottrade. It now has over 10 million customers in total.