Best of
9 Best Online Brokers for Stock Trading of December 2019
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.
on Merrill Edge's website
Merrill Edge

Fees
per trade
Account Minimum
Promotion
cash credit with qualifying deposit
on Merrill Edge's website
on TD Ameritrade's website
TD Ameritrade

Fees
per trade
Account Minimum
Promotion
cash credit with qualifying deposit
on TD Ameritrade's website
on E*Trade's website
E*Trade

Fees
per trade
Account Minimum
Promotion
cash credit with a qualifying deposit
on E*Trade's website
on Interactive Brokers's website
Interactive Brokers IBKR Lite

Fees
per trade
Account Minimum
Promotion
No promotion available at this time
on Interactive Brokers's website
on TradeStation's website
TradeStation

Fees
per trade
Account Minimum
Promotion
cash credit with a qualifying deposit
on TradeStation's website
Want to compare more options? Here are our other top picks:
Summary of Best Online Brokers for Stock Trading of December 2019
Broker | Commissions | Promotion | Account Minimum | Learn More |
---|---|---|---|---|
Merrill Edge on Merrill Edge's website | $0 per trade | Up to $600 cash credit with qualifying deposit | $0 | on Merrill Edge's website |
TD Ameritrade on TD Ameritrade's website | $0 per trade | Up to $600 cash credit with qualifying deposit | $0 | on TD Ameritrade's website |
E*Trade on E*Trade's website | $0 per trade | $100 to $2,500 cash credit with a qualifying deposit | $0 | on E*Trade's website |
Interactive Brokers IBKR Lite on Interactive Brokers's website | $0 per trade | None No promotion available at this time | $0 | on Interactive Brokers's website |
TradeStation on TradeStation's website | $0 per trade | Up to $2,500 cash credit with a qualifying deposit | $500 | on TradeStation's website |
![]() Charles Schwab | $0 per trade | None No promotion at this time | $0 | Read review |
![]() Fidelity | $0 | None No promotion available at this time | $0 | Read review |
Robinhood on Robinhood's website | $0 per trade | None no promotion available at this time | $0 | on Robinhood's website |
![]() Ally Invest | $0 per trade | $50 - $3,500 in cash bonus with qualifying deposit. | $0 | Read review |
Broker | Commissions | Promotion | Account Minimum | Learn More |
---|---|---|---|---|
Merrill Edge on Merrill Edge's website | $0 per trade | Up to $600 cash credit with qualifying deposit | $0 | on Merrill Edge's website |
TD Ameritrade on TD Ameritrade's website | $0 per trade | Up to $600 cash credit with qualifying deposit | $0 | on TD Ameritrade's website |
E*Trade on E*Trade's website | $0 per trade | $100 to $2,500 cash credit with a qualifying deposit | $0 | on E*Trade's website |
Interactive Brokers IBKR Lite on Interactive Brokers's website | $0 per trade | None No promotion available at this time | $0 | on Interactive Brokers's website |
TradeStation on TradeStation's website | $0 per trade | Up to $2,500 cash credit with a qualifying deposit | $500 | on TradeStation's website |
![]() Charles Schwab | $0 per trade | None No promotion at this time | $0 | Read review |
![]() Fidelity | $0 | None No promotion available at this time | $0 | Read review |
Robinhood on Robinhood's website | $0 per trade | None no promotion available at this time | $0 | on Robinhood's website |
![]() Ally Invest | $0 per trade | $50 - $3,500 in cash bonus with qualifying deposit. | $0 | Read review |
Last updated on November 25, 2019
Methodology
To recap our selections...
NerdWallet's Best Online Brokers for Stock Trading of December 2019
- Merrill Edge: Best for Research
- TD Ameritrade: Best for Beginners, Investment Selection, Best Overall
- E*Trade: Best for Investment Selection, Research
- Interactive Brokers IBKR Lite: Best for Active Trading
- TradeStation: Best for Active Trading
- Charles Schwab: Best for Beginners, Best Overall
- Fidelity: Best for Best Overall
- Robinhood: Best for Low Costs
- Ally Invest: Best for Low Costs
Frequently asked questions
Not much. Note that many of the brokers above have no account minimums for both taxable brokerage accounts and IRAs. Once you open an account, all it takes to get started is enough money to cover the cost of a single share of a stock and the trading commission, if charged. (See “How to Buy Stocks” for step-by-step instructions on placing that first trade.)
Trading costs definitely matter to active and high-volume traders, but many brokers now offer commission-free trades of stocks, ETFs and options. Other factors — access to a range of investments or training tools — may be more valuable than saving a few bucks when you purchase shares.
One easy way is to invest in exchange-traded funds. ETFs are essentially bite-sized mutual funds that are bought and sold just like individual stocks on a stock market exchange. Like mutual funds, each ETF contains a basket of stocks (sometimes hundreds) that adhere to particular criteria (e.g., shares of companies that are part of a stock market index like the S&P 500). Unlike mutual funds, which can have high investment minimums, investors can purchase as little as one share of an ETF at a time.
Your money is indeed insured, but only against the unlikely event a brokerage firm or investment company goes under. A broker’s SIPC coverage (Securities Investor Protection Corporation) doesn't cover any loss in value of your investments.
Your account choices boil down to a taxable brokerage account versus tax-favored retirement account, such as an IRA. Our guide to brokerage accounts goes into more detail about what’s involved in setting up a taxable account. Opening an IRA involves choosing which type, such as a Roth IRA, traditional IRA or SEP IRA. If you're new to this, we’ve got you covered in our guide to IRAs.
After you’ve opened the account, you’ll need to initiate a deposit or funds transfer to the brokerage firm, which can take anywhere from a few days to a week. Once that is complete, it’s off to the investing races! And by that we mean taking a thoughtful and disciplined approach to investing your money for the long-term.
Some key criteria to consider when evaluating any investment company are how much money you have, what type of assets you intend to buy, your trading style and technical needs, how frequently you plan to transact and how much service you need. Our post about how to choose the best broker for you can help you sort through the features brokerage firms offer and rank your priorities.