BEST OF

11 Best Online Brokers for Stock Trading of July 2022

In our analysis, these online brokers stood out as the best for stock trading due to their low fees, strong trading platforms and tools and quality customer support.

Jun 7, 2022

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If you want to trade stocks, you’re going to need an online broker. We evaluated brokerage firms and investment companies on the services that matter most to different types of stock traders: For example, for active traders, we've noted online brokers with low or no commissions and robust mobile trading platforms and desktop trading capabilities. For people venturing into investing for the first time, we've included the best online brokers for educational resources (including webinars, video tutorials and in-person seminars) and on-call chat or phone support.

On these measures, the brokerage firms below earned their place on our list of the best online brokers for stock trading. Read on to see our picks, alongside links to our investing experts' in-depth reviews on each.

Merrill Edge

4.5

/5
 NerdWallet rating 
Fees
$0
per trade
Account minimum
$0
Promotion
Up to $600
when you invest in a new Merrill Edge® Self-Directed account.
Learn more

on Merrill Edge's website

Why we like it
Merrill Edge offers high-quality customer service, robust research and low fees. Customers of parent company Bank of America will love the seamless, thoughtful integration, with a single login to access both accounts.
Pros
  • Robust third-party research.

  • Integrated with Bank of America.

Cons
  • Advanced traders may find fewer securities on offer.

Fidelity

5.0

/5
 NerdWallet rating 
Fees
$0
per trade for online U.S. stocks and ETFs
Account minimum
$0
Promotion
None
no promotion available at this time
Learn more

on Fidelity's website

Why we like it
Fidelity offers $0 trading commissions, a selection of more than 3,700 no-transaction-fee mutual funds and top-notch research tools and trading platform. Its zero-fee index funds and strong customer service reputation are just icing on the cake.
Pros
  • Commission-free stock, ETF and options trades.

  • Large selection of research providers.

  • Strong customer service.

  • Expense-ratio-free index funds.

  • Highly rated mobile app.

Cons
  • Relatively high broker-assisted trade fee.

TD Ameritrade

5.0

/5
 NerdWallet rating 
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
Learn more

on TD Ameritrade's website

Why we like it
TD Ameritrade meets the needs of both active traders and beginner investors with quality trading platforms; $0 commissions on online stock and ETF trades; and a large selection of mutual funds.
Pros
  • Commission-free stock and ETF trades.

  • Free research.

  • High-quality trading platforms.

  • No account minimum.

  • Good customer support.

  • Large investment selection.

Cons
  • No fractional shares.

E*TRADE

4.5

/5
 NerdWallet rating 
Fees
$0
per trade
Account minimum
$0
Promotion
Get up to $600 or more
when you open and fund an E*TRADE account
Learn more

on E*TRADE's website

Why we like it
E*TRADE has long been one of the most popular online brokers. The company's $0 commissions and strong trading platforms appeal to active traders, while beginner investors benefit from a large library of educational resources.
Pros
  • Easy-to-use tools.

  • Large investment selection.

  • Excellent customer support.

  • Access to extensive research.

  • Advanced mobile app.

  • Commission-free stock, options and ETF trades.

Cons
  • Website can be difficult to navigate.

Interactive Brokers IBKR Lite

5.0

/5
 NerdWallet rating 
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
Learn more

on Interactive Brokers' website

Why we like it
Interactive Brokers' IBKR Lite is a strong option for frequent traders: The broker offers international trade capabilities, no stock-trading commission and a quality trading platform.
Pros
  • Large investment selection.

  • Strong research and tools.

  • Over 17,000 no-transaction-fee mutual funds.

  • NerdWallet users who sign up for IBKR Pro get a 0.25 percentage point discount on margin rates.

Cons
  • Website is difficult to navigate.

Webull

4.5

/5
 NerdWallet rating 
Fees
$0
per trade
Account minimum
$0
Promotion
Get 6 free stocks
when you open and fund an account with Webull. Promotion ends 6/30/2022.
Learn more

on Webull's website

Why we like it
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to a few common asset classes.
Pros
  • Low costs.

  • Easy-to-use platform.

  • Advanced tools.

  • Access to cryptocurrency.

Cons
  • No mutual funds.

  • Thin educational support.

Ally Invest

4.5

/5
 NerdWallet rating 
Fees
$0
per trade (on eligible US securities)
Account minimum
$0
Promotion
$100-$3,000
in cash bonus with qualifying deposit.
Learn more

on Ally Invest's website

Why we like it
Ally Invest’s robust trading platform and lineup of free research, charting, data and analytical tools make it a good choice for active traders. But it’s also appropriate for beginning investors who will appreciate that there is no account minimum and no annual fees.
Pros
  • Commission-free trades on eligible U.S. stocks, options and ETFs.

  • No account minimum.

  • Strong web-based platform.

  • Robust research and tools.

Cons
  • No no-transaction-fee mutual funds.

  • No branches.

TradeStation

4.5

/5
 NerdWallet rating 
Fees
$0
per trade
Account minimum
$500
Promotion
Get an extra $150
cash credit with a minimum deposit of $500. Offer Code: NERDAGCU.
Learn more

on TradeStation's website

Why we like it
TradeStation is a strong choice for active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. Trades of up to 10,000 shares are commission-free.
Pros
  • High-quality trading platforms.

  • Comprehensive research.

  • Commission-free stock, ETF and options trades.

  • Advanced tools.

  • Active trader community.

Cons
  • Free trading on advanced platform requires TS Select.

  • No transaction-fee-free mutual funds.

  • Plans and pricing can be confusing.

Zacks Trade

4.0

/5
 NerdWallet rating 
Fees
$0.01
per share
Account minimum
$2,500
Promotion
None
no promotion available at this time
Learn more

on Zacks Trade's website

Why we like it
Zacks Trade is an online brokerage firm committed to active traders and investors, offering penny-per-share trades and a robust trading platform. Unusual in the world of discount brokers, Zacks offers free broker-assisted trades, so if you're at all likely to seek help making a trade, Zacks could be a good choice.
Pros
  • Ample research offerings.

  • Robust trading platform.

  • Access to international exchanges.

Cons
  • Trails competitors on commissions.

  • High account minimum.

Want to compare more options? Here are our other top picks:

Last updated on June 7, 2022

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5.0

NerdWallet rating 
Discover Bank Online Savings

APY

1.10%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

American Express® High Yield Savings Account

4.5

NerdWallet rating 
American Express® High Yield Savings Account

APY

1.00%

With $1 min. balance for APY

at American Express National Bank, Member FDIC

LendingClub High-Yield Savings

5.0

NerdWallet rating 
LendingClub High-Yield Savings

APY

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at LendingClub Bank, Member FDIC

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating brokers and our process, read our full methodology.

To recap our selections...

NerdWallet's Best Online Brokers for Stock Trading of July 2022

Frequently asked questions