The Best Online Brokerages 2017

best online brokerages

2017 is going to be a great year financially. You’ve chosen to dedicate a part of this year to investing, but the options for online brokers available can quickly make you feel overwhelmed and confused. What is the best online brokerage for you in 2017?

When it comes to investing, there are a couple of important factors to consider. Depending on your circumstances, you may be looking for free trading options, research that will give you a competitive edge, a large selection of trading options, or a nice and easy to use trading platform.

There are dozens of great options out there, but finding a broker that’s best for you can be pretty scary. Have no fear, this awards list has you covered even if you have $0 to start out. All of these brokers have wonderful trade execution so you never have to worry about losing your money when you buy or sell off your stocks.


Best Overall Broker: TD Ameritrade

TD Ameritrade

TD Ameritrade has been long considered as the best online broker in the world. It’s been rated number one by critics in selection, access to research tools, outstanding customer service and is a wonderful platform for both novices and professionals.

  • COMMISSIONS: $9.99 per trade
  • ACCOUNT MINIMUM: None, but in order to be eligible for most promotions, you must have $1,000 in your account.

Some other factors to consider:​

TD Ameritrade offers an immersive education for traders to give them a competitive edge even if they are new to trading.

They also provide fantastic customer support that’s available 24/7. You can get in touch with trading specialists and even find live help from retired floor trading pros.

Its elegant and easy to use trading platforms is available on your computer, over the web or even through mobile making it easy to trade no matter where you are.

TD Ameritrade goes to exceptional lengths to ensure it delivers 3rd party research and unbiased help


Best Broker For Active Traders: Interactive Brokers

TD Ameritrade

Interactive Brokers is a favorite broker for professional and even institutional traders around the globe. The goal in mind for interactive brokers is to lure experienced investors through intelligent incentives. It combines world-class research tools with lightning speed transactions and low commissions.

However, it’s important to understand that commissions are dynamic on this platform and you should only use Interactive Brokers if you have some good experience under your belt. Novices are rightfully known to struggle with its advanced platform.

  • COMMISSIONS: $0.005 per share with a minimum trade commission for $1!
  • ACCOUNT MINIMUM: $10,000, $5,000 for IRA, $3,000 for traders under 25.

Some other factors to consider:​

Interactive Brokers gives traders access to more than 80 different stock exchanges making it easy to access the best opportunities in the world.

Interactive Brokers showcases an incredible selection of stocks that are available for shorting.

Interactive Brokers trade execution is far superior to most of the competition

Interactive Brokers has an immersive trading platform but no research available for traders.


Best Broker For Roth IRA: Scottrade

TD Ameritrade

Scottrade is an incredible opportunity for traders who are interested in setting up a Roth IRA account. This broker has a flat $7 trading fee across all trades and has a maximum trade rate of $17 for mutual fund trading.

If you’re struggling and you need help, Scottrade has over 500 branches. Odds are you’ll be able to talk to someone in person, and there’s no substitution for being able to talk to someone face to face about their investments and their future.

  • COMMISSIONS: $7 for stocks and even ETF, max of $17 for mutual fund trades.
  • ACCOUNT MINIMUM: $0.

Some other factors to consider:​

Tax-free growth and low commissions.

It’s free to open and maintain an IRA account. You can get started with $0.

Free retirement investing education to help guide you through making long-term trades. You can visit your local branch any time for help.

A regular trading account has a minimum of $2,500 but Roth IRA has no minimums so you can start on your future on any budget.


Best Broker For Beginners: TradeKing

TD Ameritrade

Cheap commissions almost never come with broker assistance, but TradeKing wanted what is best for beginners that are trading on a budget. With staggering low commission rates, it’s rare for brokers to be friendly with traders. However, TradeKing is home to over half a million traders and is praised by its traders for excellent customer service.

TradeKing’s trading platform has real-time streaming and customizable technical analysis tools that are rare for discount priced trading. It’s easy to see why TradeKing is known as the king when it comeS to beginners and novices.

  • COMMISSIONS: $4.95 per trade, an extra $0.65 per option contract, stocks under $2 cost an extra $0.01 for every share.
  • ACCOUNT MINIMUM: None.

Some other factors to consider:​

It’s natural to get nervous when your stocks look like they’re in a bind. All you have to do is call up for some help, and a trained professional will guide you through your trades for FREE.

TradeKing has a great “social media” network that allows traders to hangout and get to know more about trading. It’s the perfect place for beginners to relax during their down time.

TradeKing is the perfect place to learn more about investing, options and equities. The education includes free weekly webinars.

You can execute orders through mobile which is an important aspect for beginners that are always on the run.


Best low-cost brokerage: Robinhood

TD Ameritrade

Robinhood is a gem if you’re looking for commission free trading. While there are limitations to available trading options and the lack of a drip feature, Robinhood is a steal for those traders who are looking to buy a couple of stocks at a time free of charge. Robinhood is a sharp trading platform that can be accessed through mobile and the trading execution is surprisingly quick.

  • COMMISSIONS: $0.
  • ACCOUNT MINIMUM: $0.

Some other factors to consider:​

It’s incredibly easy to sign up and get started.

While there’s a lack of research and technical analysis available, Robinhood supports stop limits, limit orders, and even stop orders.

Robinhood is a member of FINRA and SIPC which protects customers for up to half a million dollars. The platform is also incredibly secure due to its encryption technology. In short, free trading doesn’t mean you're taking a risk with your money and your identity.

Robinhood provides real-time market data which is a massive plus for free trading commissions.


All Our Brokerage Reviews

A

Acorns Review - Acorns is an app that allows to automatically invest your pennies. Thanks to simple automatic system and no account minimums, Acorns is a great choice for beginners and hands-off investors. 


E

eOption Review - eOption excels in options trading, providing incredibly low commissions. Low costs and user-friendly platform appeal the most to fee-concious traders, margin traders and novice options traders.

eToro Review - eToro offers traders unique social CopyTrading system which allows traders to follow other successful traders. Low account minimums and versatile platform appeal to both novice and veteran investors alike.


I

Interactive Brokers Review - Interactive Brokers offers a professional trading platform for active traders, all for very reasonable commissions. Small spreads, global trading and low margin rates are some of the many perks Interactive Brokers can provide.


J

Just2Trade Review - Just2Trade is a discount brokerage that appeals the most to active traders and those seeking low costs. Just2Trade welcoms international investors and treats them with various third party integrations. 


L

Loyal3 Review - Loyal3 is an unique brokerage, offering 100% fee free investing. On Loyal3, you can invest in blue chip stocks, IPOs and you can buy only fractional shares as well. Therefore, it is a great choice for beginners and casual investors. 


M

Motif Investing Review - Motif allows to invest in thematic portfolios, making it possible to invest in a niche you love the most. Low account minimum, no inactivity fees and easy platform appeal to beginners and casual investors. 


O

OptionsHouse Review - OptionsHouse is a professional level brokerage for options trading, providing competitive commission rates, free DRIPs and great trading platform. Thanks to advanced trading platform it's more suited for experienced options traders.


R

Robinhood Review - Robinhood is a mobile-app-only broker that allows to invest in stocks without any fees. Thanks to an extremely easy app, Robinhood is a suitable investment choice for beginners with little capital or passive investors that like to invest on the go.


S

ShareBuilder Review - ShareBuilder is an online discount brokerage that is a part of reputable Capital One Investing. ShareBuilder's low commissions and user-friendly website suits well for hands-off investors and beginners.

SureTrader Review - SureTrader is an off-shore brokerage, offering very fast order execution and no pattern day trading rules. SureTrader's flexible choices and professional trading platform are suited for active day traders.


T​

TD Ameritrade Review - TD Ameritrade is one of the biggest discount brokerages, offering vast trading choices and powerful tools. Thanks to the variety of possibilities, TD Ameritrade is suited for both beginner investors and active traders.

TradeKing Review - TradeKing is known for low pricing and various professional tools, appealing to traders of all experience levels. TradeKing offers National Best Bid Guarantee and in-depth educational support, adding to the list of TradeKing's great qualities.

Tradestation Review - Tradestation offers various advanced choices such as complex multi-leg orders and fully customizable trading platform. Advanced features and low commissions make it a great choice for active traders.