Ranking Methodology
To create our list of stock broker companies, we focused only on discount brokerage firms in the United States. To compare them fairly, our stock brokerage firms list uses a 5-star rating system. While no company received a full 5 stars, several did get 4½ stars.
In our brokerage firms list, any company rated at least 3½ stars is recommended in at least one category (see the reviews for the categories we researched). A brokerage firm rated 3 stars is acceptable, but there is usually a better option available.
Firms with an overall rating of 1 or 2 stars should typically be avoided. However, keep in mind that each company in our list of stock brokers in the USA has unique strengths and weaknesses.
Areas of Specialization
Many of the stock brokers in our list are well-known names today. But this doesn't mean every broker is suitable for your investing needs. So, conduct your research (our reviews are a good place to begin) with an understanding of your investment plans. One broker, for example, may have excellent mutual fund choices but basic tools for options trading.
Our brokerage firms list should mainly serve as a starting point to help you find the best broker for your investing style. Still, there are common categories most investors will probably want to look into. These include:
- Available assets
- Customer service
- Trading software
- Fees and commissions
- Tools for research and education
The overall ratings in our US stock broker list include ratings from these categories.
Important Differences Within a Category
Sometimes two brokers offer the same product, like a desktop platform, but the platforms differ significantly. For example, Webull’s browser platform is clearly more advanced than Ally Invest’s. However, Ally Invest’s browser platform offers better tools for options trading compared to Webull's.
If a certain category, such as investor education, matters a lot to you, thoroughly compare brokers using our reviews before choosing one. Although most investment firms provide educational resources, the quality and amount can differ greatly.
When to Look at Reviews
It’s smart to review our stock brokerage firms list before opening an account,
though you can always revisit our research afterward. If you're unhappy with your current broker, our reviews can help you find another one.
The Ever-Changing Brokerage World
The investment world continually changes due to new asset types (like cryptocurrencies), mergers and acquisitions, and improvements in trading software. Because of this, our list of stock broker companies often changes.
Although some US brokers now offer digital currencies, the services vary greatly. Robinhood, for example, now offers 19 coins, while others like TradeStation only offer a few.
Some brokers regularly update their software tools. Webull, for instance, has greatly improved its desktop and browser trading software in the past year. Other brokers, like M1 Finance, keep using the same software with few changes.
Another interesting trend is new brokers entering the market. Moomoo recently began offering brokerage accounts in the United States, allowing customers to trade Chinese stocks. This opens opportunities that other brokers don’t provide.
As new brokers emerge, fresh trading options will likely appear, leading to increased excitement and online discussions. We’ll continue reporting on these developments in our stock brokerage firms list.
Naturally, we continuously monitor changes in the brokerage industry throughout the year. We update each firm’s profile page whenever ratings or other details change.
Small Accounts vs. Large Accounts
Due to changes in the brokerage industry, most discount brokers today have very low trading costs and nearly no minimum account requirements. Stock and ETF commissions are usually $0 now, and maintenance fees have mostly disappeared.
A few brokerage firms on our US stock broker list still require a minimum deposit, though. For instance, Zacks Trade has a $250 minimum. Others, such as Citi and Vanguard, offer discounts for larger accounts.
The Rise of Automated Investing
Many brokerage firms we cover recently introduced robo-investing accounts. These accounts are managed by the company's software, rather than by the customer.
Robo accounts generally have no commissions and low or no annual fees. They often trade mutual funds or ETFs with low management fees. Because robo accounts have become popular, our reviews will note if brokers offer them. Several firms we review also offer traditional investment management.
Account Transfer
If your broker changes significantly, or if you're unhappy with their service, you can easily switch brokers today through the Automated Customer Account Transfer Service (ACATS).
Investments in one account can quickly move to another broker's account. Most brokers today offer online transfer tools to make this simpler. Firstrade, for example, offers digital transfers, while WellsTrade does not.
Only cash and securities can move through the ACATS network, not futures contracts or cryptocurrencies. Of course, you can always sell these assets and move the cash through ACATS.
Many firms on our US stock broker list don't charge for transfers out. Robinhood charges $100 for full transfers, while Fidelity charges nothing for partial transfers. Nearly all brokers charge nothing for incoming transfers, but some still have high outgoing transfer fees. For instance, TradeStation charges $125.
Safety and Insurance
Every broker we review has SIPC insurance, covering accounts up to $500,000, with half allowed as cash. Coverage ensures the number of shares, not their market value.
All brokers on our site are regulated by the SEC and FINRA. These regulators enforce strict rules, and violations often come with penalties. You can check broker records on BrokerCheck.
Changes, Additions, Errors
If you know about a new broker or see an error, please contact us. Thanks for reading and good luck investing!
Updated on 4/22/2025.
Paul Johnson is a Licensed Stockbroker with 7+ years of experience in the financial services industry. Paul enjoys teaching about investing and writing about financial topics. He is a husband and father of twin boys.
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