The competition among online brokers has become a game of inches among top-tier players like Ally Invest, Fidelity Investments and Charles Schwab.
But as always with investing, small moves can have a big impact on returns, as does finding the brokerage whose offers best mirror your investing habits. (Not sure how to start? Read our explainer on opening a brokerage account.)
Ally Invest, Fidelity and Schwab are all 5-star category winners in our roundup for best online brokers for stock trading. But look more closely; there are some important pros and cons for each brokerage.
Ally Invest at a glance
| Account minimum | $0. |
| Stock trading costs | $0 (on eligible US securities). |
| Options trades | No base commission; $0.50 per contract. |
| Account fees (annual, transfer, closing, inactivity) | No inactivity fees; $50 full outgoing transfer fee. |
| Commission-free ETFs | All eligible U.S. ETFs are commission-free. |
| No-transaction-fee mutual funds | No transaction-fee-free mutual funds; $9.95 per trade for no-load funds. Fees vary for funds with a sales load. |
| Tradable securities | • Stocks. • Bonds. • Mutual funds. • ETFs. • Options. • Forex. |
| Trading platform | Browser-based platform with free screening tools, customizable charting, research and real-time data. |
| Mobile app | Access to core account functions including tracking, quotes and trading. Available on iOS and Android. |
| Research and data | Free. |
| Customer support options (includes website transparency) | Chat, email and phone support 7 a.m. - 10 p.m. ET, 7 days a week. No branches. |
| Promotions | $100 to $2,500 cash credit with a qualifying deposit. |
» Read NerdWallet’s full Ally Invest review
Fidelity Investments at a glance
| Account minimum | $0 |
| Stock trading costs | $0 |
| Options trades | No base commission; $0.65 per contract |
| Account fees (annual, transfer, closing, inactivity) | None |
| Number of commission-free ETFs | All ETFs trade commission-free |
| Number of no-transaction-fee mutual funds | More than 3,500 no-transaction-fee mutual funds. |
| Tradable securities | • Stocks. • Bonds. • Mutual funds. • ETFs. • Options. |
| Trading platform | Fidelity.com and Active Trader Pro for desktop and browser. Both free for all customers. |
| Mobile app | Available for iOS and Android; advanced features. |
| Research and data | Free and extensive |
| Customer support options (includes website transparency) | Phone, email and live chat 24/7; 197 local branches. Some information is difficult to find on website. |
| Promotion | None. |
» Read NerdWallet’s full Fidelity review
Charles Schwab at a glance
| Account minimum | $0 |
| Stock trading costs | $0 |
| Options trades | No base commission; $0.65 per contract |
| Account fees (annual, transfer, closing, inactivity) | No annual or inactivity fee; $50 for full transfer out of assets; $25 for partial transfer of assets |
| Commission-free ETFs | All ETFs trade commission-free. |
| Mutual funds | Over 3,500 no-transaction-fee mutual funds |
| Tradable securities | • Stocks. • Bonds. • Mutual funds. • ETFs. • Options. • Futures. |
| Trading platform | Three platforms offered with no trade minimums or fees: StreetSmart Edge (desktop platform), Schwab.com and StreetSmart Central. |
| Mobile app | Two mobile apps with above-average capabilities: Schwab Mobile and StreetSmart Mobile. |
| Research and data | Free and extensive |
| Customer support options (includes website transparency) | 24/7 phone support; live chat and email support; more than 300 local branches; some information is difficult to locate on website |
| Promotion | Referral award for first-time clients |
» Read NerdWallet’s full Charles Schwab review
