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Standout Online Brokers For Stock Trading

There are a lot of online brokers out there. So many, in fact, it can be overwhelming to weed through all the options — good and bad — and then confidently choose one. Social scientists call this “information overload”. We call it inconvenient. To make the search easier, we created this shortlist of standout picks from our partners. And with low commission rates, impressive investing tools, easy-to-access research and more, they’re a great choice for most investors.

Summary of Standout Online Brokers For Stock Trading

BrokerNerdWallet Rating CommissionsPromotionAccount MinimumLearn More
SoFi Active Investing

SoFi Active Investing

on SoFi Invest's website

$0

per trade

Free

career counseling plus loan discounts with qualifying deposit

$0

on SoFi Invest's website

Interactive Brokers IBKR Lite

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

SoFi Active Investing

on SoFi Invest's website

SoFi Active Investing

SoFi Active Investing

Fees

$0

per trade

Account Minimum

$0

Promotion

Free

career counseling plus loan discounts with qualifying deposit

on SoFi Invest's website


Promotion

Free

career counseling plus loan discounts with qualifying deposit

Why we like it

SoFi Active Investing's $0 trading commission and $0 account minimum is attractive to new investors, but a lack of investment choices such as mutual funds and bonds is a drawback for those saving for retirement.

Pros

  • Commission-free stock and ETF trades.

  • Cryptocurrency trading.

  • Fractional shares available.

  • No account minimum.

  • Free financial counseling.

Cons

  • Small selection of tradable securities.

  • Limited track record.

Read Full Review
Interactive Brokers IBKR Lite

on Interactive Brokers's website

Interactive Brokers IBKR Lite

Interactive Brokers IBKR Lite

Fees

$0

per trade

Account Minimum

$0

Promotion

None

No promotion available at this time

on Interactive Brokers's website


Promotion

None

No promotion available at this time

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 4,300 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.

  • Inactivity fees on IBKR Pro.

Read Full Review

Last updated on May 1, 2020

To recap our selections...

NerdWallet's Standout Online Brokers For Stock Trading