Top 10 Largest Online Discount Brokerage Firms in U.S. Ranked by Size: Number of Accounts and AUM in 2017



Size
Rank
Discount Brokerage
Firm Website
Number of Clients, AUM,
Pricing and Review


Fidelity Investments rating

Fidelity



Fidelity Investments Number of Clients and AUM

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 ($75 for some funds) for mutual funds. See all Fidelity fees.

Review

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TD Ameritrade rating

TD Ameritrade



TD Ameritrade Number of Clients and AUM

TD Ameritrade serves around 7 million brokerage accounts. This number does not include over 3 million recently purchased Scottrade accounts.

TD Ameritrade has close to $774 billion in total managed assets (not including Scottrade assets).

Pricing

$6.95 for stocks and ETFs; $6.95 + $0.75 per contract for options; $49.99 for mutual funds. See all TD Ameritrade fees.

Review

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Charles Schwab rating

Charles Schwab



Charles Schwab Number of Clients and AUM

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. See all Charles Schwab fees.

Review

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Scottrade rating

Scottrade


Scottrade Number of Clients and AUM

Scottrade serves around 3 million brokerage accounts.

Scottrade has over $300 billion in total customer assets.

Pricing

$7 for stocks and ETFs; $7 + $0.70 per contract for options; $17 for mutual funds. See all Scottrade fees.

Review

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Etrade rating

E*trade



Etrade Number of Clients and AUM

Etrade serves around 2 million brokerage accounts. This number includes recently purchased OptionsHouse 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. See all Etrade fees.

Review

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Vanguard rating

Vanguard



Vanguard Number of Clients and AUM

Vanguard serves 20 million investors, in about 170 countries (mostly through the mutual funds).

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.

See all Vanguard fees.

Review

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Merrill Edge rating

Merrill Edge



Merrill Edge Number of Clients and AUM

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. See all Merrill Edge fees.

Review

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Ally Invest rating

Ally Invest


Ally Invest Number of Clients and AUM

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. See all Ally Invest fees.

Review

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Sharebuilder rating

Capital One Investing



Capital One Investing Number of Clients and AUM

Capital One Investing does not disclose number of clients or total assets under management.

Pricing

$6.95 for stocks and ETFs; $6.95 + $0.75 per contract for options; $19.95 for mutual funds. See all Capital One Investing fees.

Review

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Optionshouse rating

Optionshouse



Optionshouse Number of Clients and AUM

Optionshouse serves over 148,000 brokerage accounts. The company has been bought by Etrade.

Optionshouse has over $3.7 billion in total assets under management.

Pricing

$4.95 for stocks and ETFs; $4.95 + $0.55 per contract for options; $20 for mutual funds. See all Optionshouse fees.

Review

Read Optionshouse Review



Discount Brokerage Firms Ranked by Size


In the table above we list U.S. 10 largest brokerage houses ordered by size. These online brokers are ranked according to their total number of customers and amount of assets they had in 2017. Some of the companies do not reveal how many clients they have so we had to guesstimate. But the 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 second 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.

Updated on 1/13/2017.





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