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Best Stock Brokers of 2020

InvestorGreg upholds the most rigorous standards for testing of brokers. We may receive compensation for advertising or for links that feature inside our reviews. Learn more about our methodology and review process.

Investors and traders have a wide variety of online stock brokers to choose from. Some stock brokers feature highly advanced and sophisticated stock trading platforms while others provide simple and intuitive stock trading platforms. Nevertheless, there are plenty of options to choose from when selecting a viable online stock broker to trade with, but traders must know which one to choose. Therefore, it’s important to analyze all aspects of a stock broker and look into their tradeable products, commissions and fees, security measures, regulation, deposit and withdrawal methods, and more. As well, before selecting an online stock broker, it’s important to understand what exactly a stock broker is and how they work.

Minimum Deposit
$0
Types of Trading
Stock
Country
United States
Regulation
SEC, FINRA, FCA (UK)
Although famous for its mutual funds offering, Fidelity is full service broker that was established in 1946. The broker currently services more that 19 million brokering accounts and has more than $2.5 trillion dollars under asset management. Apart from brokering services and asset management, Fidelity also provide other financial services such as mutual funds management, investment advice, wealth management, retirement planning and life insurance. On the brokerage side of the business, Fidelity offers investors competitive commissions for online traders which they can take advantage off. The broker merely charges a small of $4.95 for most trades. Clients at Fidelity brokerage division also have access to a wide range of trading tools for research and charting. The Active Trader Pro software provided by Fidelity is one of the most sophisticated trading software in the online trading industry.
Minimum Deposit
$0
Types of Trading
Robo-advisors, Stock
Country
United States
Regulation
SIPC
Charles Schwab is one of the biggest brokers in the industry today. They cater for investors of all experience levels. They have been in the industry since 1973 and they now have more than $3.18 trillion in client assets. In addition to offering the trading of securities, futures and options, they also have FDIC backed banking services and retirement account options. They play host to over 10.5 million brokerage accounts. They try to lead the way in the industry in terms of the latest trends. In 2017 they underwent a major overhaul of their commissions and fees. This saw Charles Schwab become a lot more competitive in terms of costs with the rest of the industry. This Charles Schwab broker review will look at the various aspects which makes it one of the market leaders.
Minimum Deposit
$100
Types of Trading
Robo-advisors, Stock
Country
United States
Regulation
FINRA
E*Trade started in 1982 and they conducted their first online trade the following year. They went public in August 1996, with their headquarters being in New York City. They currently have more than 4,100 employees and they have 30 retail branches around the United States. They are one of the leading financial services companies in the space and were one of the pioneers of online brokering. They have long been involved with digital innovation, constantly being on the lookout for the next advancements they can make to take their offering to the next level. They currently have more than 3.6 million customers globally, providing them with two proprietary platforms to choose from when trading which are looked at in this E*Trade broker review.
Minimum Deposit
$0
Types of Trading
Robo-advisors, Stock
Country
USA
Regulation
Various local Jurisdictions
Founded in 1975 by Jack Bogle, the Vanguard brand is well known among the financial investing community for low cost investments, especially for ETFs and index funds. Vanguard’s cost of investing is much lower than what one would normally find in the funds investing industry. The broker’s average ratio for transactional expenses is just 0.11% as compared to the typical industry funds’ ratio of 0.62%. In the world of financial investing especially when you are investing for the long term, cost is everything. Trading costs can easily eat into your gains. For example if you invest $200,000 and make just a 5% gain annually, a difference of 0.5% will translate into an additional $1000 gain per year. Previously, Vanguard financial investment products were only available through an intermediary like a investment broker or a funds management company. However recently, Vanguard introduced its Vanguard Investor platform which allow investors to invest directly in its range of products without having to go through an investment broker or an investment fund platform. Today, Vanguard is a global brand that has more than 20 million clients all over the world. An asset management company, Vanguard is owned investors rather than by shareholders of the company. In short, this meant that Vanguard is supposedly to operate more towards the interests of investors as opposed to the shareholders.
Minimum Deposit
$0
Types of Trading
Robo-advisors, Stock
Country
United States
Regulation
CFTC, NFA
Ally Invest serves the needs of their customers in many different ways. They offer everything from banking to home loans, auto finance, corporate finance and of course investing. They have more than 250,000 active customer accounts, as well as over $4.7 billion worth of assets. They were formerly known as TradeKing, which was an independent broker online for more than a decade. In April 2016, Ally Financial purchased TradeKing for $275 million. All Ally customers have the same log in, no matter what department they are looking to use. This makes it very easier for customers of Ally Bank to manage their investments. The Ally Invest trading performance is very similar to what TradeKing users experienced. There is a combination of competitive pricing and handy tools for different skill levels. Combining their range of products and competitive pricing with great customer support, it is easy to see why All Invest is one of the industry leaders.
Minimum Deposit
None
Types of Trading
Options, Stock
Country
United States
Regulation
SEC, FINRA
Robinhood is a new, innovative online investing platform that was established in 2013 with $539 million of venture capital. The primary aim of this investing platform was to democratize access to the financial markets by letting investors trade in various financial instruments such as cryptocurrencies, ETFs, stocks and options commission free. The main target market of this investing platform is geared towards young individual investors that want more control over their trading activities with minimal cost. The Robinhood platform is accessible through its website and mobile trading app. There is no telephone support and only basic level services are provided and sometimes at an extra cost. Despite the no frills offering, this has not slowed down the growth of this investing platform. Today, the platform boasts of having more than 6 million registered accounts.
Minimum Deposit
$10
Types of Trading
Forex, Options, Stock
Country
Seychelles
Regulation
Not Regulated
IQ Option was first founded in 2013 as a binary options trading brokerage but has since rebranded in 2017 to provide the trading of Forex and CFDs on a wide range of asset classes. IQ Option now has 25,580,000 registered users and facilitates around 1,800,000 trades per month accounting for nearly $380 million worth of trading volume. IQ Option is truly a global online trading brokerage by servicing traders from over 60 countries and offering their services in 13 different languages. The IQ Option brokerage is based offshore in the Seychelles with their headquarters located at Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles. Unfortunately, the IQ Option broker is not licensed or regulated by any reputable regulatory authorities. Therefore, how do you know if IQ Option can be trusted to provide fair and reliable online trading services and how are the services they provide. Find out in our in-depth IQ Option Broker review where we extensively analyze the IQ Option broker and services they provide.
Minimum Deposit
None
Types of Trading
Stock
Country
United States
Regulation
SEC, FINRA
Since 1975, TD Ameritrade (AMTD) has led the brokerage industry in providing innovative offering and excellent services to a variety of clients and investors. Although it incurs higher costs such as $6.95 for a stock trade and $6.95 + $.75 per contract for option trades, AMTD’s comprehensive range of tools and platforms and exceptional customer service more than make up for the pricey fees. The firm has no minimum investment required as well as a maintenance fee, and offers free trading for 60 days for clients with deposit of $3,000 or more. TD Ameritrade, a publicly traded online brokerage firm, has been servicing over 11 million clients with a total value of more than $1 trillion in assets. This figure is catalyzed by approximately 500,000 trades done on a daily basis and is supported by custodial services for over 6,000 independent registered investment advisors. Hence, AMTD has been consistently recognized by numerous bodies and institutions for ensuring a great holistic experience for its clients and investors.
Minimum Deposit
$200
Types of Trading
CFD, Forex, Options, Stock
Country
Cyprus
Regulation
CySEC, FCA, ASIC
The eToro online trading platform is well known in the online trading industry as the platform that changed the way retail traders trade the financial markets. Established in 2006 by 2 siblings Ronen and Yoni Assia together with their business partner David Ring, eToro single handedly revolutionized the concept of social trading with the introduction of their Openbook social trading platform in 2010. Since then, eToro has expanded by leaps and bounds with the acceptance by traders of the idea of harnessing the collective wisdom of the trading community to improve their trading objectives. Since 2017, eToro has achieved more than 8 million registered users on its trading platform.  Today, the eToro brand is managed by different subsidiaries of the eToro Group. For clients in the UK, they are serviced by eToro (UK) Ltd, a company registered with the UK’s FCA with the registration number FRN 583263. For clients based in the European Economic Area (EEA), they are serviced by a Cyprus based company called eToro (Europe) Ltd. The company is authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license # 109/10. For the Australian market, eToro operates under the subsidiary eToro AUS Capital Pty Ltd which is regulated by the Australian Securities and Investments Commission (ASIC) under the license number 491139.
Minimum Deposit
$5.00
Types of Trading
CFD, Forex, Stock
Country
Seychelles
Regulation
International Financial Commission
Binomo is an online binary options trading brokerage that primarily markets themselves towards beginner or inexperienced traders. However, experienced traders will also appreciate Binomo’s trading services due to Binomo’s high-end trading platform and wide range of financial assets. Binomo has a decent amount of experience in the financial markets as they were founded in 2014 and have been serving traders in the binary options trading industry ever since. Binomo is based offshore out of the Seychelles with their headquarters located at Tiburon Corporation Limited Suite 1, Second Floor, Sound & Vision House, Francis Str., Victoria, Mahe, Seychelles. Since Binomo is an offshore online trading brokerage, can they be trusted and how are the services they provide? After all, brokerages based offshore generally do not have the best reputation, however this isn’t always the case. In the following Binomo Broker Review we will discover the truth about the Binomo broker and the quality of services they provide.
Minimum Deposit
$0
Types of Trading
Options, Stock
Country
United States
Regulation
SEC and FINRA
Firstrade has its origins in Queens, New York and was originally set up back in 1985. At the time, it was mainly helping locals in the community with their finances, particularly immigrants from China. At its core, it was a low-cost offering and it has tried to stay true to its foundations in its current offering. You will clearly see on the Firstrade platform that it still has a Chinese language version of its website, as well as the low-cost structure it is known for. This broker is under the regulation of both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Firstrade has an offering that charges $0 commission for options and stock trades, which is attractive for many investors and traders. It also has a decent selection of different research and trading tools that help traders to make informed decisions. The platform, in particular, has been popular with active traders. There is also an interesting securities lending aspect to the platform. This allows investors on the Firstrade platform being about to lend their stock positions to financial institutions in return for a side income. This Firstrade broker review looks at all of the various aspects that make up this offering in its current form.
Minimum Deposit
$0
Types of Trading
CFD, Forex, Stock
Country
United Kingdom
Regulation
FCA, ASIC, CFTC
CMC Markets is a very well established trading brokerage as they were founded back in 1989 and have grown to become one of the largest and most successful Forex and CFD brokerages in the world. CMC Markets is listed on the London Stock Exchange under ticker CMCX and serves over 60,000 clients from around the world. CMC Markets has won over 50 awards recognizing the quality of their services and dedication to their clients. CMC Markets is based out of the UK with their headquarters located at CMC Markets UK plc, 133 Houndsditch, London, EC3A 7BX. Though they are based out of the UK, CMC Markets serves the international markets and has head offices around the world in Australia, Austria, France, Germany, Ireland, Italy, New Zealand, Norway, Poland, Singapore, Spain, Sweden, and the United Kingdom. CMC Markets is obviously a very well-established and trusted online trading brokerage, but are they the right broker for you? Find out in our in-depth CMC Markets Broker Review where we analyze all aspects of this lucrative broker.
Minimum Deposit
$250
Types of Trading
CFD, Forex, Stock
Country
United Kingdom
Regulation
FCA, IFSC, KNF, CNMV and CMB
XTB is a well-established online Forex and CFD trading broker with more than 14 years of experience and an international presence with offices in more than 10 countries around the world. The XTB brokerage is said to be one of the leading online trading brokerages in the world and has been awarded numerous awards for their trading services. XTB’s primary headquarters are located in the United Kingdom at Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom, and their registered company number is 07227848. Since XTB is based out of the UK, they are licensed and regulated by the UK Financial Conduct Authority (FCA) as well as the IFSC, KNF, CNMV and CMB due to their international presence. Though XTB has an excellent reputation and is praised by many, are they the right trading brokerage for you? Let’s find out in our in-depth XTB Broker Review as we uncover the facts and aspects of this lucrative online trading broker.
Minimum Deposit
$500
Types of Trading
CFD, Options, Stock
Country
United States
Regulation
SEC, FINRA
TradeStation is a broker that is based in the United States and has been operating since 1982. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are both tasked with the oversight of the TradeStation offering. There is also protection of client accounts of up to $500,000. The broker has a long track record of success, with its parent company, the Monex Group having a Tokyo Stock Exchange listing. TradeStation is a broker that places an emphasis on top-quality market data and efficiently executing trades. It also focuses a lot on the customer experience right throughout the offering. You also have options to automate your trading or to engage in the stock lending program. This TradeStation review looks at all of the various aspects of this offering. It will highlight the strengths and weaknesses, allowing you to make an informed decision as to whether or not you should use the TradeStation brokerage.
Minimum Deposit
None
Types of Trading
Robo-advisors, Stock
Country
USA
Regulation
SEC, FINRA
Established in 2010, Merrill Edge is one of the subsidiaries of Merrill Lynch, an international investment division of the Bank of America. The brand is well known in the financial industry and is considered a household name since it was founded in 2014. Despite the fact that Merrill Edge was only set up in 2010, the brokerage division has already earned a reputation of being a customer oriented broker with its excellent customer service. The broker’s services are open to anyone but Bank of America clients’ do get to receive preferential treatment under the Bank of America’s Preferred Rewards program. Additional benefits which clients get to enjoy under the Preferred Rewards program include integrated account management, seamless funds transfer and universal logins. The preferred reward program also entitles clients to qualify for free trades.
Minimum Deposit
$0
Types of Trading
CFD, Forex, Stock
Country
Australia
Regulation
ASIC, FCA
Pepperstone is one of Australia leading forex and CFD brokers, and was established in 2010. The brokerage firm was founded by two individuals by the name of Owen Kerr and Joe Davenport. Pepperstone’s head office is located in Melbourne, Australia. It also maintains an office in London in order to better serve the needs of its European based clients. Pepperstone is regulated by two of the top tiered regulatory bodies in the world, the Australian Securities & Investment Commission (ASIC) and the UK’s Financial Conduct Authority (FCA). Pepperstone specializes in offering online trading services for spot forex and CFDs through a selection of advanced trading platforms. The broker draws its appeal from the fact that it is able to meet the differing needs of traders of different skill levels. Apart from being able to serve the needs of various categories of traders, Pepperstone also cater to institutional investors. Despite being only operational for a less than a decade, Pepperstone has been considered as one of the more successful forex brokers in the industry by many key players. This is hardly surprising as it has always been the broker’s aim to leverage technology, superior services and competitive spreads as the primary driver of growth for the company.a
Minimum Deposit
$0
Types of Trading
CFD, Forex, Options, Stock
Country
United States
Regulation
NYSE, FINRA, SIPC
Interactive Brokers have been in business for more than 40 deals and they currently have capitalised equity capital of over $6 billion. Most of their emphasis is on professional and institutional investors. They now have a presence as a broker-dealer in more than 120 market destinations across the world. They have a wide range of investment products to choose from and they are responsible as a whole for more than 800,000 trades each and every day. Their headquarters is based in Greenwich, Connecticut and they have offices across North America, Europe, Asia and Australia, with more than 1,200 employees. They are regulated by the FCA, NYSE, FINRA and the SEC, as well as other global regulatory agencies. They are constantly looking to innovate and push the boundaries in the broker-dealer space. In 1017, they were one of the first broker-dealers to offer their clients access to trading Bitcoin futures for example. This Interactive Brokers broker review will look at the various aspects which makes the broker stand out from the crowd.
Minimum Deposit
0
Types of Trading
CFD, Forex, Options, Stock
Country
Netherlands
Regulation
AFM, DNB
DEGIRO is brokerage firm that has been on the scene since 2013, starting off its operations in the Netherlands. Since then, it has expanded its operations into 18 different countries across the European Union. In this relatively short space of time, it has managed to develop its offering into one of the biggest on the continent. DEGIRO is focused on pairing financial knowledge with technology in order to create an experience for traders that is cost-effective and efficient. It is always looking at different ways to innovate and improve with its offering. The company is well-respected in the industry and it is under the regulation of the AFM in the Netherlands, as well as the Dutch Central Bank. This DEGIRO review looks a variety of elements, showcasing what areas the broker performs best in and what areas can be improved upon.
Minimum Deposit
$0
Types of Trading
CFD, Options, Stock
Country
United States
Regulation
SEC and FINRA
SogoTrade is a broker that is based in St. Louis, Missouri, United States and first started its operations back in 1986. It is under the regulation of the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is not currently listed on a stock exchange and there is no background in banking at SogoTrade. The SogoTrade platform is also available in Chinese for users. There are a variety of different aspects of this offering. One of its main focuses is on being innovative with its offering, as well as having a lot of discounts when it comes to trading commissions. This SogoTrade review breaks down these different aspects, looking at what the platform does well and where it can improve.
Minimum Deposit
Zero
Types of Trading
CFD, Stock
Country
USA
Regulation
SEC & FINRA
Established in 2017, Webull is an upcoming online broker that has gathered the attention of many veteran traders. The broker offers commission free trading on more than 5000 different types of stocks and ETFs on its proprietary trading platform. What makes Webull different from other brokers that have established their presence on the internet is the fact that Webull offers a professional level trading platform for intermediate and  experienced retail traders that was previously only available to top trier private investors Now, with the establishment of Webull, the average retail trader will be able to trade across a few thousand different types of financial instruments. Now, let’s take a closer look at the services offered by Webull.
Minimum Deposit
$100
Types of Trading
CFD, Forex, Options, Stock
Country
Ireland
Regulation
Central Bank of Ireland
AvaTrade is a highly respected and reputable online trading brokerage with extensive experience as they were founded back in 2006. Since their establishment, AvaTrade has seen massive growth and now serves more than 200,000 customers around the globe and executes more than 2 million trades a month which account for over $60 billion in monthly trade volume. AvaTrade’s customer base and trading volume is so massive because they are an international trading brokerage with head offices in Italy, France, Japan, Spain, Australia, Mongolia, China, Nigeria, Chile, and South Africa. However, the brokerages primary headquarters are located in Ireland at Five Lamps Place, Amiens Street, Dublin 1, Ireland. The tradable products offered by AvaTrade consists of over 250 tradable instruments including: Forex currency pairs CFD trading on bonds Stocks Indices ETFs Commodities 24/7 cryptocurrency trading. These tradeable products are available to all traders via the suite of sophisticated trading platforms featured by AvaTrade.  Let’s explore more about this broker in the AvaTrade Broker Review.
Minimum Deposit
$100
Types of Trading
CFD, Forex, Stock
Country
Republic of Vanuatu
Regulation
VFSC
UFX is a large and successful international online trading brokerage with extensive experience in the financial markets. The brokerage is very well-established as they were founded in 2007 and have been competently providing STP (Straight-Through-Processing) brokerage services to both retail and institutional traders and investors from around the world. The UFX brokerage is based offshore in the Republic of Vanuatu with their headquarters located at Govant Building, Kumul Highway, P.O.Box 1276 Port Vila, Vanuatu. As such UFX is licensed and regulated by the Vanuatu Financial Services Commission (VFSC) under licence number 14581. Since UFX is an offshore trading brokerage, we should probably be skeptical due to the questionable practices of offshore trading brokerages. However, UFX has built up a viable reputation and have won numerous awards for their excellence over the years. Therefore, how do you know if the UFX trading brokerage can be trusted? And how is the quality of their trading services compared with other reputable trading brokers? Find this out and more in our extensive UFX Broker Review where we analyze all aspects pertaining to this lucrative trading brokerage.
Minimum Deposit
$250
Types of Trading
CFD, Forex, Stock
Country
Belize
Regulation
IFSC
AroTrade is one of the fastest growing online trading brokerages with an asset index of over 1000 stocks, forex, commodities and indices available as CFDs. The brokerage primarily serves the average retail investor by providing low cost investment opportunities, financial education, and sophisticated trading platforms and tools to help their clients succeed. AroTrade was only recently established in 2018 and is owned and operated by Speed Solutions Ltd. The brokerage is an offshore trading brokerage as they are based out of Belize with their headquarters located at 5, Cork St, Belize City, Belize. Though they are based offshore, AroTrade thus far has a good reputation and are licensed and regulated by the Belize International Financial Services Commission (IFSC) with number IFSC/60/391/TS/17. With so many online trading brokerages to choose from and many of them being fraudulent, how do you know which one to choose? We’re here to make your decision easier with our in-depth AroTrade Broker Review where we analyze all aspects of this lucrative broker.
Minimum Deposit
$1.00
Types of Trading
CFD, Forex, Stock
Country
British Virgin Islands
Regulation
BVI FSC
IFC Markets is an internationally recognized online trading brokerage with extensive experience in the global financial markets. IFC Markets was founded in 2006 and have since been operating in compliance with the international standards for brokerage services. The brokerage is registered and incorporated out of the British Virgin Islands with their headquarters located at IFC Markets Corp. Quijano Chambers, P.O. Box 3159, Road Town, Tortola, British Virgin Islands. IFC Markets is known to be a reliable and innovative trading broker as they provide top of the line trading services and exclusive tradable instruments. The broker does their best to accommodate all types of traders whether they are novice traders just starting out or are experienced trading veterans. However, with so many viable online trading brokerages to choose from, how do you know which one is right for you? Well, in the following IFC Markets Broker Review we’ll shine light on all aspects of this lucrative trading broker so that you can decide if they’re right for you.
Minimum Deposit
$0
Types of Trading
Options, Stock
Country
United States
Regulation
FINRA, NFA and SIPC
Tastyworks is a broker that was set up in 2017 in the United States. It was built by a team that has a lot of experience in the brokerage industry, so they tried to implement all that they have learned to date into this offering. Tastyworks is regulated by FINRA and everything from stock trading to futures and options is catered for. The platform is completely proprietary so it is well-suited to the goals of the tastyworks management team. This makes for a very stable experience, with the design being optimized to allow you to access all the features and tools you could ever need in the same place. There is a great variety of different research and analysis tools for you to use, but this may be a bit off-putting to more passive or beginner investors. Overall, this platform is best suited to more experienced traders who take a hands-on approach to their investing.

What is a stock broker?

A stock broker is a professional individual, firm, or company that buys and sells stocks and other financial securities on behalf of a retail or institutional client. A stock broker is usually associated with a brokerage firm and can be found online at various stock trading platforms.

How do stock brokers work?

Traders and investors use a stock broker to invest and trade the financial markets. Online stock brokers do this for their clients by buying and selling stocks and securities from a listed market or over the counter. They do this on the client’s behalf and charge them a commission for doing so.

How to select the best stock broker?

There are numerous online stock brokers to choose from, each with stock trading platforms varying in excellence. The best way to select a viable stock broker is to compare online stock brokers by reading comprehensive and in-depth reviews of their stock trading platforms and brokerage services.