If you’re looking to invest or trade for the first time, you’re going to need to choose an online broker. But which one should you select? Should you just pick the online stock broker with the lowest fees? Not so fast…
From reviewing all of the best online stock and option brokers in 2017, we are adamant that cost is not the only factor that makes a broker the “best.” Customer service, trading platforms, availability to investment research, and tradable products are all important factors to take into consideration when trying to find the best online stock broker.
Best Online Stock Brokers
|Broker||Highlights||Commissions||Account Minimum||Current Offers||Start Investing|
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|24/7 customer service and impressive trading platform||$4.95 per trade||$0||$100 cash bonus or $500 in commission-free trades with Ally Invest!|
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|Downloadable trading platform w/ algorithmic trading capabilities||$5.00 per trade||$500||All new pricing & no maintenance fees for new accounts!|
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|Phunemonomal mobile trading application||$6.95 per trade||$0||None|
Cumulatively, we’ve spent well over 100 hours finding the best possible online broker for trading stocks, and we’ve narrowed it down to the three brokers you see above.
All three of these brokers have no maintenance fees, software fees, or other hidden BS fees that will eat into your profits. Some traders are very active and trade virtually everyday, but others only trade when an opportunity presents itself. As such, we find it’s best to eschew online stock brokers who charge their clients fees just to have an account.
Besides not having any fees, we’ve given Ally Invest the award of the Best Online Option Broker of 2017 primarily because of their great option trading platform and competitive pricing.
For stocks, Ally Invest is also one of our favorite choices. They have 24/7 customer service and the former TradeKing Live trading platform (keep in mind TradeKing didn’t used to have 24/7 customer service) so it’s really like the best of both worlds combined.
Stocks vs Options
Because a lot of options trading strategies require the simultaneous purchase or sale of stock, it’s best to just pick one broker for all of your trading needs. Although we love trading options at The Options Bro, we also trade stocks.
In the table above, you can click on one of the broker rows and see pros and cons of each broker and who each online stock broker is best for.
We sincerely hope our reviews and comparison tables empower you to make the right financial decision and spend less time looking for a broker and more time placing winning trades!