Best Long Term Investor Brokerage

Best Broker For Long Term Investors in 2024

The best stock brokerage firm for long term investing. Top account for long-term investors in mutual funds and stocks.

The Best Long Term Investing Broker

Charles Schwab has been one of the best stock brokers for long term investors for many years. And for good reasons: for one flat rate fee of $0 per trade, this company provides investors with tools that help make small to large investments overtime, without having to worry about excessive overheads i.e. minimum account deposits or purchase amounts, commissions or hidden fees, charges to use their advanced trading platforms and research materials. One complete trading cycle (buy and sell) will cost a customer $0. Compare that to the $40-$70 range a traditional broker would charge for just one transaction.

Of course, there are other online trading platforms that advertise the same fees, but many of them also nickel and dime the trader for any service that does not involve pure buying and selling, as explained in this comparison table.

Fees/ToolsCharles SchwabE*TRADERobinhood
Flat Fee $0 $0 $0
Minimum Deposit $0 $500 $0
Commission Free ETFs all all all
Forex Yes No No
Real-Time Quotes Free Platform Fee Free
Level II Quotes Free Platform Fee $5 per month
Charting Package Free N/A N/A
All Trading Platforms Free Free N/A
Learning Tools Free N/A N/A
Virtual Trading Free Free N/A
Access to former floor traders Free N/A N/A
Trading via mobile apps Free Free Free
Funded Accounts +12 million +5 million +12 million

Best Broker For Long Term

Charles Schwab also goes a step further for long term investors by offering commission-free over 4,000 mutual funds and all ETFs (exchange traded funds), which is a great option for clients who do not have the time nor the patience to pour over market reports every single day, but would still like to maintain a diversified portfolio.

Free Charles Schwab Account

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Charles Schwab Services for Long Term Investors

For the long term investing, the broker offers a number of free services, including but not limited to:

- Up-to-date reports from S&P Capital IQ, Ford Equity Research, ResearchTeam, TheStreet, MarketEdge, and Jaywalk Consensus.

- A quick and robust trading platform. There has been negligible downtime ever since they went public in 1997.

- Free wire transfers (deposits and withdrawals) to personal bank accounts.

- Complete online account access anywhere in the world as long as one is connected to the web.

- Automatic deposits to an MMA (money market account) so cash can accumulate some interest till the trader decides to invest it. Though the interest is tiny, it is certainly better than what most banks pay to checking account holders.

- Performance tracking tools and suggestions on how to minimize risks.

- And, this might be important for some investors; NO pushy marketing tactics whatsoever. They do offer investment advice, but only if one specifically asks for it. There is a separate fee for that service.

- Free access to paperMoney, a virtual trading program to practice with virtual money in real-time.

Best Schwab index funds

Bonus Brokerage Services for Long Term Investing

Some of the additional services they provide can be very useful for long term investors:

- Portfolio Check-Up helps investors review their portfolios and re-align investments with the help of professional advisors.

- Morningstar Instant X-ray gives investors access to Morningstar analysis and data reports for stocks and mutual funds.

- Retirement Calculator. As the name suggests, you can set your retirement goal and monitor your performance.

Customer Service and Reliability

Their customer attrition rate is one of the lowest among the competition even with over 34.8 million of funded accounts. Trades go through quickly during regular trading hours. Real-time quote alerts, level 2 quotes, triggers, buy and sell stops can be quickly set using the SnapTicket tool. The trading apps they offer for both Android and iOS, are free and have access to all the perks of the online account. Here too, the downtime has been almost none.

Even though a major part of Charles Schwab is online trading, they also boast over 450 physical locations in the United States. Their phone customer service is very quick, reliant and to the point, unlike traditional banks where one would face long holds, numerous transfers and not to mention the inevitable ‘Would you be interested in applying for our new credit card?’ question.

Best Broker For Long Term Investors Conclusion

In summary, Charles Schwab's straightforward pricing, few fees, and excellent suite of investment and trading services and tools, made it one of the best online brokers for long term investing for over 34.8 million of customers for over 40 years.

Free Charles Schwab Account

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About the Author
Arthur Chachuna is a professional personal finance blogger, and the owner of He has been an avid investor for 25 years, and has a background in both applied math and programming.