Best investment brokerage firms 2022 - authoritative point
Best Online Stock Brokers In (According To Readers)
The investing landscape has changed dramatically over the last few years. We've seen new technology drop commissions and expenses substantially (to $0 for most), new tools helping investors, and a whole lot of competition to stay at the top of the pack.
So, with all these changes, who do you (the readers) think is the best online stock broker in ? We have been polling our audience annually and we're excited to share the best investing platforms with you!
We break down the top five online stock brokers chosen by readers, along with some notable mentions, especially for certain use cases. We also highlight any bonus offers these companies currently have. If you're not using a top online stock broker yet, now is the time to make the switch!
What's interesting to see this year is all of the FinTechs have fallen out of the top 5 - which is a big change from prior years!
Note: The investing offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all investing companies or all investing offers available in the marketplace.
Fidelity took the top pick this year among all the brokerage and stock trading apps. They have a large amount of commission-free funds, low expenses, and a full range of account types to choose from. Even if you don't invest with a commission free fund, they are $0 for commissions for stocks, ETFs, and options trades.
Furthermore, many people are familiar with Fidelity because (along with Vanguard) they are one of the largest k plan administrators. That's why we name Fidelity our Best Online Broker for Retirement.
Plus, unlike Vanguard, Fidelity has offices nationwide. While almost everything can be done online, being able to easily go to an office can be helpful every now and then.
Fidelity Bonus Offers: After going commission-free, Fidelity dropped their bonus offers.
Open an account at Fidelity >>
Vanguard was the runner up this year, dropping a spot from last year, and it makes sense for a variety of reasons. Vanguard is stil consistently the low price index fund leader - and when you invest directly with Vanguard, you can potentially avoid commissions and fees on your mutual fund purchases. However, Vanguard had several hiccups with it's online platform and app (even though the re-designed app is modern and easy to use).
Furthermore, Vanguard offers the full range of account types, from IRAs to Solo k's, to plans and HSAs.
The big drawback to Vanguard is that they aren't as great to use for products outside of their own. Also, if you dive into the details on some of their products (like their Solo k), it's not always the most robust available.
Vanguard Bonus Offers: Vanguard doesn't run any bonus offers maybe they're just too good for that they don't need to entice you?
Open an account at Vanguard >>
Schwab has been moving up the rankings for the last few years - reaching third place this year in our list of the best online stock brokers.
What people love about Schwab is their great trading platform (which is commission-free) combined with a solid banking product, which other that Fidelity, most of the others here don't offer.
Furthermore, they have no purchase minimums for their mutual funds, so you can build an extremely low cost portfolio at Schwab using popular funds like Schwab Total Stock Market Index (SWTSX). And they also moved to $0 account minimums for most products.
Schwab Bonus Offers: They do offer a refer-a-friend bonus of up to $1, if you can get an invite!
Open an account at Schwab >>
TD Ameritrade is another company that's consistently at the top of the pack. We love TD Ameritrade's app, which we named as one of the best free investing apps. Plus, their Thinkorswim platform is top-notch for traders.
We're watching and waiting to see how Schwab handles the acquisition of TD Ameritrade, which as completed last year. But as of now, no major changes are occuring.
TD Ameritrade is also on the commission-free bandwagon, offering $0 commissions on stock, option, and ETF trades.
Open an account at TD Ameritrade >>
E*TRADE made it's way back onto this the list after a few years of not making the cut. E*Trade has been working hard to compete with the other companies on this list, dropping to commission-free pricing and improving it's interface.
However, we would say they still generally lag in terms of usability compared to the companies above, and their customer service is lacking (they even eliminated online chat last year for many features).
They do have a pretty loyal following, and it will be interesting to see how J.P. Morgan handles them now that they are part of the company.
Open an account at E*TRADE >>
Honorable Mentions
These honorable mentions didn't make the top 5, but they are really worth a look if you want someone else to do the work for you when it comes to investing and setting up your portfolio.
These are companies that got votes and interest from our audience, but not enough to crack the top of the list.
M1 Finance
M1 Finance is a relative new comer but they've been doing some amazing things with low cost investing and banking.
What makes M1 Finance so great is that it allows you to setup a low cost portfolio for free. This portfolio can be one of their automated portfolios, or you could setup one of your own with almost any combination of ETFs and stocks. And for stocks, that includes investing in fractional shares as well.
Once you setup your portfolio, M1 helps you automatically re-balance when you deposit more money into your account. And when you sell, it also helps you re-balance by selling overweight items in your portfolio.
Plus, they offer a great banking product and even allow you to borrow against your portfolio with M1 Borrow.
The only real drawback to M1 is that it doesn't consider all of your portfolio - you need to do that. Also, it doesn't connect with platforms like Quicken or Personal Capital. You need to use their dashboard to track your portfolio.
M1 Finance Bonus Offer: You can get up to $2, if you transfer an account over.
Open an account at M1 Finance >>
Wealthfront made it's way back into the honorable mentions after being missing for a few years. They're not really a brokerage firm, but a robo-advisor. And we've consistently named Wealthfront our pick for the best robo-advisor for high net worth individuals.
Wealthfront has become a popular choice simply because people want to set and forget their investments - simply deposit money and let the system do it's thing. Wealthfront makes it easy.
The big drawback here is the cost. Wealthfront charges a % asset-under-management fee for the ability to invest on their platform and have them take care of your portfolio.
Wealthfront Bonus Offer: None.
Open an account at Wealthfront >>
Betterment is a bit different that almost all the rest of these because they are a true robo-advisor. However, for those people that don't want to invest themselves, Betterment is a top notch choice for where to invest.
What makes Betterment great is that it's so easy to get started investing. You simply open an account, answer a few questions, and make a deposit. Betterment takes care of the rest.
The biggest drawback is cost. Their pricing is very transparent - % for their basic digital plan, and % for their premium plan. However, the more you have under management with them, the more it will cost you. $50, will cost you $ per year in management fees.
However, for those that don't want to ever think about their portfolio, a small, transparent management fee might be the way to go.
Betterment Bonus Offer: Up to 1 year managed free.
Open an account at Betterment >>
Robinhood has always been a controversial online broker and last year saw a lot of issues - especially around app outages, trading fiascos, and more. As a result, Robinhood dropped out of the top 5.
Robinhood offers truly commission free trading. Like $0. Nada. Nothing. They were the first to offer this, but now everyone does.
However, Robinhood is the only one on this list that supports cryptocurrency trading on their platform.
It does come with some drawbacks beyond the media. The biggest is that they don't support many popular account types - specifically IRAs, but also joint accounts, trusts, and custodial accounts.
However, it's free!
Robinhood Bonus Offers: Get a random share of stock when you refer a friend.
Open an account at Robinhood >>
Final Thoughts
It was interesting to see the shift back to the "old guard" of investing this year. I think many people are realizing that, now given all pricing is the same, the full-service features, ability to open different account types, and reliability, are a lot more popular factors to consider than an app-only investing firm.
Furthermore, everyone on this list has made huge progress in developing top-notch apps. So the experience is really on par (or better) than some of the FinTech firms.
Remember, this was based on an annual survey of our readers and Facebook group. We keep this updated throughout the year, and revisit the rankings annually.
Investopedia’s Best Online Brokers Awards
The past year was showtime for online brokers as millions of new traders and investors entered the market for the first time amid a frenzy of trading in stocks and crypto. Brokers’ reliability, pricing, and range of offerings were all put to the test, as both new and experienced traders sought any edge they could find to capture returns.
Investors and politicians scrutinized online brokers for their role in wild market swings as retail traders and institutional investors alike piled into highly-shorted stocks, prompting short squeezes, trading halts, and platform outages. Pricing became paramount as the industry faced pressure over payment for order flow tactics, and how it actually makes money from customers.
As cryptocurrency quickly became a mainstream asset with more customers demanding it, online brokers made moves to include it on their platforms. That trend, and the growing interest in investing and trading among a new generation of customers, are here to stay.
Our list of the best online brokers of showcases platforms that best responded to evolving customer needs in an industry that requires rapid innovation every year.
Best Overall: Fidelity Investments
Fidelity Investments has been our top selection for Best Overall Online Broker for three years running. This year, Fidelity continued its commitment to lowering costs for investors by refusing payment for order flow, while boosting returns with its cash sweep of uninvested cash into money market funds. Fidelity’s research and trading tools remain among the best in class, as do its educational offerings.
Read Full Review
Best Broker for Beginners: TD Ameritrade
TD Ameritrade continued its commitment to investor education and user-friendly tools, making it our top pick for beginners. Its paper-trading platform is a great launching pad for its robust online investing platform, which has tools for investors and traders of all levels. Its mobile platform is one of the easiest to use in the industry, and its smooth user interface translates to desktop and tablet, too.
Read Full Review
Best Mobile Apps: TD Ameritrade
TD Ameritrade has two apps that together form the best overall mobile app offering. First, the thinkorswim mobile app is designed to make it easy for traders to manage existing positions and open new ones. Second, the TD Ameritrade Mobile App is intuitive and powerful enough to use as the primary trading platform—potentially creating a generation of app-only traders who never touch the desktop versions.
Read Full Review
Best Broker for Options: Tastyworks
Tastyworks once again takes the top spot as the best broker for options trading given its flexible tools and intuitive platforms. It’s more advanced than other options platforms, but also offers new traders educational pathways with great content and features that help them improve. Tastyworks may not be the options platform traders start on, but many end up there as they become more skilled.
Read Full Review
Best Broker for Low Costs: Fidelity Investments
In an era of no commissions for stock and ETF trading, the race to the bottom is short. Still, Fidelity finds ways to give its customers price improvement by eliminating payment for order flow, and sweeping uninvested cash into money market funds. Other brokers do this, but Fidelity’s overall price improvement is top-notch in the industry.
Read Full Review
Best Broker for Advanced Traders: Interactive Brokers
Interactive Brokers (IBKR) remains our top pick for advanced day traders for the third consecutive year. Its offering of international exchanges, cryptocurrency, and incredibly low margin rates, plus some of the best tools and charts in the industry, sets it apart in a very competitive field. It also has superior order execution and pricing, which are must-haves for advanced traders.
Read Full Review
Best Cryptocurrency Exchange: Coinbase
This was the year crypto went mainstream among retail investors and traders, creating more exchange options than ever before. Still, Coinbase wins for its ease of use, wide selection of major crypto tokens and alt-coins, and its research and educational offerings. Security is paramount for crypto-investors, and while Coinbase suffered a breach in March , it worked quickly to fix the flaw and fully refund affected customers.
Read Full Review
Best Broker for International Trading: Interactive Brokers
Interactive Brokers (IBKR) stands apart from its competitors in offering the most robust access to international markets of any online broker. IBKR offers the widest pool of assets and markets, and the tools to trade them. It also makes a point of connecting as many electronic exchanges as possible, allowing customers to trade equities, options, and futures around the world and around the clock.
Read Full Review
Best Broker for ETFs: Charles Schwab
The ETF landscape became highly competitive for online brokers in , but CharlesSchwab stood out thanks to the strength of its ETF screener combined with the quality of its overall offering. Schwab offers robust educational materials, and portfolio analysis tools for everyday investors that make investing in ETFs simple. We like that Schwab also has more complex offerings and products for advanced investors as well.
Read Full Review
Best Broker for Ease of Trading Experience: E*TRADE
Ease-of-use was paramount for online brokers as millions of new traders entered the market this past year. E*TRADE stood apart from the competition in this new category, thanks to its paper trading platform that mirrors its Power platform, as well as providing pre-built portfolios. E*TRADE also has a wealth of educational materials and market-related information that are easy to find and navigate.
Read Full Review
Best Broker for Customer Service: TD Ameritrade
With so many new traders and increased trading activity, customer service took on a renewed level of importance this year. Most online brokers provide good-to-great customer service, but TD Ameritrade stands out as best-in-class for its commitment to 24/7 availability, its virtual client service agent “Ted”, and its direct-message availability on platforms such as Apple Business Chat, Meta Messenger, Twitter Direct Messages, and WeChat in Asia.
Read Full Review
Best Broker for Low-Cost Options Trading: Webull
Options trading was on fire in the first half of as traders took advantage of pricing imbalances across the stock market. Webull has offered some of the lowest cost options strategies in the industry, alongside a robust set of tools at no cost to its customers. As one of the lowest-cost brokers around, Webull stands out for extending affordability into the options market.
Read Full Review
Want to jump straight to the best? Most of our users prefer Interactive Brokers for stock trading.
Given how easy it is to find an online stock broker, determining which online broker is best for you can take some research. You can choose best stock broker from this and find the best trading platform for you. From penny stocks to an ETF, you want online trading to be as user-friendly as possible.
Remember, however, that the best brokers should match your needs. The broker your neighbor loves may not work for you, and that is why there are several options available to you. Stock trading is subjective in many ways, and you want a trading tool, investor support and more in an online brokerage account.
Best Online Stock Brokers and Platforms
Once you know what you’re looking for in an online broker, you can make an informed decision on which stock broker to choose. For example, if you plan on making investments in foreign stock markets and already have considerable experience operating in the financial markets, Interactive Brokers might make a good choice.
1. Webull
Webull offers both a mobile-based and desktop app that are highly intuitive and perfect for intermediate and advanced traders. The Webull platforms feature fundamental and technical analysis tools that include advanced charting and technical indicators.
Consumers can trade over 5, stocks, exchange-traded funds (ETFs,) stock trading or options trading on Webull’s platforms free of commissions. You can also open an account without an initial deposit and try out their platforms in a paper trading account that lets you practice without risking your money.
You can even open a margin account where you can short stock — although you’ll be required to deposit a minimum of $2, In addition, Webull’s promotional offers include 3 free share of stock for successfully opening an account determined by random selection using Webull’s lottery system.
Intermediate Traders and Investors
Webull, founded in , is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.
Webull is widely considered one of the best Robinhood alternatives.
- Active traders
- Intermediate traders
- Advanced traders
- No account maintenance fees or software platform fees
- No charges to open and maintain an account
- Intuitive trading platform with technical and fundamental analysis tools
- Does not support trading in mutual funds, bonds or OTC stocks
2. Axos Self-Directed Trading
Digital, self-directed trading is where some of today’s most savvy market watchers go when they’re ready to take full control of their investing future. With Axos Bank’s newest offering, Axos Invest, their bustling new online trading platform includes all the options needed to build and manage your financial future, along with access to information and insights to help make sure your instincts and decisions are the right ones.
Axos Invest is known for their low fees plus:
- Commission-free stock and ETF trades
- Only $1 per options contract
- $ per mutual fund trade
In addition to individual and joint account options, Axos Invest also offers Roth and traditional IRAs to maximize your tax advantaged investing.
Those ready to step up, and receive a wider array of financial tools can hyper-charge their strategy with Axos Elite. A membership features extended trading hours up to 7 p.m. ET, and access to their powerful research tool – TipRanks™.
It seems like new digital investment management platforms are sprouting up left and right, and for good reason — there’s a great need for easy, straightforward investment management that doesn’t cost an arm and a leg in fees or to get started. If you’re new to investing or an old hat who wants to make the switch to a virtual manager, deciding which features you need can be confusing if not overwhelming.
If you want a no-frills financial management platform, Axos Invest (formerly WiseBanyan) takes a traditional but sophisticated approach to automated online investing.
- Traditional investors trying out an automated investor for the first time
- New investors that want to take a hands-off approach to portfolio management
- Straightforward automated investing
- Relatively low account minimum and automated investing fee
- A solid roster of available investment account types
To help you to find the best online brokers in , we went ahead and did the research for you. We selected quality online brokers, checked and compared basically every aspect of their services, with a special focus on fees, safety, trading platforms, as well as deposit and withdrawal options. Service providers had to prove their excellence in multiple areas to be considered among the best online brokers. We dug deep, so you won't have to.
In total, 5 brokers made it to the top and we highly recommend all 5 of them. And now, without further ado
Top 5 picks for best online brokers in
- Interactive Brokers is the best online broker in Low trading fees. Wide range of products. Many great research tools.
- DEGIRO takes second place. One of the lowest fees on the market. Regulated by top-tier authorities. Easy-to-use web and mobile platform.
- Saxo Bank rounds out the top three. Great trading platform. Outstanding research. Broad product portfolio.
- XTB is numero quattro. Low forex CFD fees, commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- Charles Schwab just made it to the list at number five. Free stock and ETF trading. Outstanding research. Great customer service.
| Broker | Accepts clients from | Score | Minimum deposit | Best in | |
|---|---|---|---|---|---|
| #1 | Interactive Brokers | Globally | $0 | Best online broker | |
| #2 | DEGIRO | Europe | $0 | Best discount broker | |
| #3 | Saxo Bank | Globally | $2, | Best forex broker | |
| #4 | XTB | Globally | $0 | Best CFD broker | |
| #5 | Charles Schwab | US | $0 |
What makes a good online broker? Surely, they need to provide great services in all areas. First of all, they need to offer fair fees and have a good safety score. Depositing and withdrawing funds should be either free or cheap and user-friendly. Great trading platforms, an easy account opening procedure and a wide range of products also weigh heavily in the scoring.
These features are easy to list, but hard to figure out. We are testing brokers based on close to criteria with real accounts and real money. You can find all the criteria in our methodology.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country, it will generate a list of the most relevant brokers. Want more details? Compare brokers with our in-depth comparison table.
And now, let's see the best online brokers in one by one, starting with the winner, Interactive Brokers.
Comparing the Best Brokerages and Trading Platforms in Singapore
When comparing trading platforms, consumers are faced with many different factors to consider (i.e. UI/UX, market access, product offering, etc.). It can be overwhelming, but a great place to start is by looking at the fees associated with each trade. Some platforms offer free or promotion periods where fees are waived along with other perks and benefits. Below is a graph showing the minimum commission fees for Singapore markets by brokerage or trading platform.
Minimum commission fees in Singapore
Best Overall in Singapore: Saxo Markets
PROMO: Claim up to SGD in commission credit
Promotions:
|
|---|
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| Singapore | % | % | % | % | % | % |
| US | % | % | % | % | % | % |
| Japan | % | % | % | % | % | % |
| HK | % | % | % | % | % | % |
| EU | %% | %% | %% | % | % | % |
| * Saxo min. SG: S$5; US:$3-$4; JPY1,,; HKD; EUR | ||||||
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| US 30 | ||||||
| US | ||||||
| Japan | 10 | 10 | 10 | 8 | 6 | |
| HK 50 | 7 | 7 | 7 | 6 | 5 | |
| GER 30 |
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| EUR USD | ||||||
| USD JPY | ||||||
| GBP USD | ||||||
| AUD USD | ||||||
| EUR JPY | ||||||
| * figures based on min. advertised spreads | ||||||
Saxo Markets is the best online brokerage in Singapore because it combines low cost, great market access, and an easy user interface into one platform.
First, Saxo charges just % commission on trades in Singapore, with a minimum cost of S$5. And if you were to sign up to their higher-tier plans for a monthly fee which can be waived off, you’ll be able to enjoy rates as low as % per trade (minimum S$1). Saxo is currently holding a promotion where new users will be given a free upgrade to a Gold Plan where they enjoy monthly commission credits, lower rates for trading both in Singapore and international markets, have access to live market data and more.
Not only that, Saxo doesn't charge any hidden fees, i.e., no inactivity fee, no platform fee, no maintenance fee, etc. Saxo can be effective not just for long-term investors, but also for frequent traders who invest S$, or less.
On top of its low fees, Saxo offers online trading in 60 exchanges worldwide, and market-leading commission rates for the major international markets such as the U.S., Hong Kong, and Japan.
Additionally, Saxo is one of the best platforms for trading foreign currencies, since its FX spreads are consistently among the lowest available, beating competitors by a significant margin. Finally, our analysts found Saxo Markets's trading platform to have the most intuitive user interface.
Read our full review
Cheapest Online Trading in SG, US, and HK: moomoo powered by FUTU
PROMO: Get a free Sea Limited share and days unlimited commission-free trading when you sign up with moomoo today
Promotions:
|
|---|
Market | moomoo Brokers Fee | Min Commission | Platform Fee | Industry Average Commission Fee | Industry Average Min. Commission |
|---|---|---|---|---|---|
| Singapore | % | SGD | %(min. SGD ) | % | SGD 25 |
| US | USD | USD | USD (min. USD 1) | % | USD |
| HK | % | HKD 3 | HKD 15 | % | HKD |
| China A | % | CHN 3 | CHN 15 | ||
Market/Type | The U.S. | Hong Kong | Singapore |
|---|---|---|---|
| Products | Stocks, ETFs, Stock Options, ADR | Stocks, ETFs | Stocks, ETFs, REITs |
moomoo (investment products offered by FUTU) has the lowest commission fees on the market, an intuitive trading platform, and access to US, HK, China A and SG markets—making moomoo an excellent choice for new investors. With their special welcome promotion, new accounts can receive real-time level 2 market data, 1 Apple (AAPL) share (and more) for free.
As one of the cheapest online trading platforms in SG, the commission charged for every trade in SG and HK markets is only %, which is much lower than other online trading platforms which range between %%. Similarly, moomoo only charges USD per order for US stocks, ETFs, and American depositary receipts (ADRs). Furthermore, with their current promotion, you can enjoy commission-free trading for days in all SG, HK and US markets. Even after the promotional period ends, new investors will still enjoy the lowest commissions in the market.
If you are looking for a simple UI/UX mobile application, moomoo's intuitive app offers tools like community chat functions, technical indicators, ratings, and insights. So, those looking to trade SG, HK, and US stocks can quickly download the app, set up an account, and begin trading. Unfortunately, moomoo's product offering and market access are currently not as broad as some of its competitors. However, they are relatively new and are expecting to broaden their product offering soon.
Similar to moomoo But With More Market Access: Tiger Brokers
PROMO: Get 60 Commission-Free Trades and more rewards today.
Promotions:
|
|---|
Market | Tiger Brokers Fee | Min Commission | Industry Average Fee | Industry Average Commission |
|---|---|---|---|---|
| Singapore | % | SGD | % | S$25 |
| US | $ per share | USD per order | % | USD |
| HK | % | HKD 15 | % | HKD |
| China | % | RMB 15 | N/A | N/A |
| Australia | % | AUD 8 | N/A | N/A |
| Futures | USD$USD$ |
Market/Type | The U.S. | Hong Kong | Singapore | Australia | China |
|---|---|---|---|---|---|
| Products | Stocks, ETFs, Stock Options, Futures | Stocks, Warrants, CBBCs, Futures | Stocks, ETFs, Rights Issue, Futures, REITs | Stocks | A-shares (in HKEX Northbound Trading) |
Tiger Brokers has one of the lowest commission fees on the market, an easy-to-use platform, and live prices for the US and Singapore, making it a great option for new and seasoned investors. The commission charged for every trade is just %, which is much lower than other online brokers who charge around %%.
This is still impressively lower than the average in Singapore, which is %. Additionally, new customers can also enjoy Tiger Coins, 60 commission-free trades (within days) and 1 share of Apple (AAPL) once the account is funded with an initial deposit of S$2, or more. Moreover, Tiger Brokers charges neither a custodian nor a currency conversion fee, and it's fairly quick to open an account ( days).
For those looking to invest abroad, Tiger Brokers' platform gives customers real-time access to markets in the United States, Hong Kong, China, and Australia. For trading in the US, you can invest for as little as USD $ commission with a minimum fee of USD $ per trade. For those who prefer to trade in Hong Kong, Tiger Brokers' minimum fee is only HKD $ This is one of the most attractive rates in Singapore, as most firms charge around HKD $HKD $ Trading futures is also simple, as there are built-in features on their platform to give customers support with these deals. With low trading fees, a user-friendly platform, and access to current market data, Tiger Brokers is a great platform.
Read our full review
Best Online Trading Platform in Singapore for US Stocks & ETFs: Syfe Trade
PROMO: Earn more than SGD cash credits to buy the US stock or ETF of your choice
Promotions:
|
|---|
Syfe Trade | Commission-Free Trades a month | Commission rate |
|---|---|---|
| Five free trades a month^ | USD flat fee^ | |
| After Introductory Offer | ||
| Two free trades a month | USD fee | |
Syfe Trade has the lowest commission fees on the market for trading US stocks and ETFs.
For a start, the Singapore online brokerage is giving every investor five free trades per month, and thereafter a flat fee of USD per trade, during its introductory offer which will end at the first quarter of Even after its introductory offer comes to an end, Syfe Trade remains extremely competitive by giving its investors two free trades per month, and a flat fee of USD per trade.
Brokerage | Commission Rate | Minimum Commission | ||||
|---|---|---|---|---|---|---|
| Syfe Trade | USD flat fee | - | ||||
| Saxo Markets (Bronze Plan) | % | USD 4 | ||||
| Tiger Broker | per share | USD | ||||
| moo moo | per share | USD | ||||
| *moo moo & Tiger Brokers rate consists of commission and platform fees | ||||||
Syfe Trade also allows investors to engage in fractional trading for US stocks and ETFs, allowing retail investors with smaller capitals to get the US stock or ETF of their choice from just USD 1.
The only drawback to Syfe Trade, for now at least, is that it only offers access to the US market. While there are plans to expand into more markets, including Singapore, users who are looking to invest in the short run would be better off looking at other choices.
If you are willing to wait, however, you’ll be happy with Syfe Trade’s simple and intuitive interface and the protection for up to K against brokerage failure.
Similar to other online brokerage offerings in Singapore, Syfe Trade gives its users live US market data as well to maximise your investment gains.
Read our full review
Honorable Mention For Best Market Access: Interactive Brokers
Read Review
| Interactive Brokers | Saxo Markets | |
|---|---|---|
| SG Stocks Commission Fee (Min. Fee) | % (S$) | % (S$5) |
| U.S. Stocks Commission Fee (Min. Fee) | $ per share (USD ) | % (USD 4) |
| Hong Kong Stocks Commission Fee (Min. Fee) | % (HKD 18) | % (HKD ) |
| Japan Stocks Commission Fee (Min. Fee) | % (JPY 80) | % (JPY ) |
In terms of trading securities in non-Singapore markets, Interactive Brokers' commission levels are hard to beat. This is attractive to investors that may feel limited by the number of stocks on the Straits Times Index and feel inclined to consider other options. As you can see in the table below, Interactive Brokers has the lowest commission costs for any region outside of Singapore. Still, Saxo is the best option for those who want access to every market including Singapore.
Read our full review
Best Online Trading Platform for Beginners
Promotions:
|
|---|
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| Singapore | % | % | % | % | % | % |
| US | % | % | % | % | % | % |
| Japan | % | % | % | % | % | % |
| HK | % | % | % | % | % | % |
| EU | %% | %% | %% | % | % | % |
| * Saxo min. SG: S$5; US:$3-$4; JPY1,,; HKD; EUR | ||||||
Saxo Markets offers the best online trading platform for those who are looking to invest online. With SaxoTraderGO, their platform designed for less-experienced traders, customers gain access to a variety of tools to help them research the best products for the trade. For example, their Fundamental Analysis Tool analyses company indicators to help you determine whether or not you want to invest. Interactive learners can also benefit from annotation features to save and take note of listings, graphs, and more. Furthermore, the platform synthesizes both in-house and third-party research to constantly feed you up-to-date information, whether you are on your mobile or desktop.
Saxo Markets also delivers some of the lowest fees in the market (for, among others, Singapore, the US, Hong Kong and Japan), has the largest international market scope, and allows you to trade a variety of products like stocks, bonds, ETFs, mutual funds, foreign exchange, futures, etc. Finally, prior to opening an account you can both preview the platform on their website and try a day demo trial to practice using the platform. Although beginning to trade online can seem daunting, Saxo Market will supply you with all the tools you need to get started at low rates.
Read our full review
Best Platforms for CFD Trading
Contracts for difference (CFDs) allow individuals to speculate on the future price of an underlying asset, without actually owning the asset. CFDs are also traded on leverage, giving traders additional buying power. For these reasons, they are popular among experienced traders in Singapore. Below we highlight two platforms that stand out for CFD trading.
Honorable Mention for Trading CFDs: IG
| IG | Saxo Markets (Bronze Plan) | ||
|---|---|---|---|
| CFD Commission for Stocks & ETFs: | |||
| Singapore | % | % | |
| U.S. | $/share | % | |
| UK | % | % | |
| Euro | % | % | |
| Japan | % | % | |
| Index CFD Spread: | |||
| US SP | |||
| US Tech | 1 | 1 | |
| Singapore | |||
| Hong Kong 50 | 5 | 5 | |
| Japan | 8 | 7 | |
| China A50 | 10 | 12 | |
| Australia | 1 | 1 | |
| Germany 30 | 1 | 1 | |
| Monthly Aggregated Contract Value (USD) | Monthly Bonus KrisFlyer Miles Payable | Total KrisFlyer miles after 1 year for each tier |
|---|---|---|
| $5,,+ | 6, | |
| $10,,+ | 1, | 13, |
| $15,,+ | 1, | 21, |
| $20,,+ | 2, | 30, |
| $25,,+ | 3, | 45, |
IG is another leading brokerage with CFD offerings. While its commission fees are generally higher than those of City Index, it offers a few features that make it worth considering.
First, IG allows investors to adjust their exposure by trading fractions of a contract (e.g. contracts of spot FX EUR/USD). Furthermore, IG offers Knockout CFDs, which is a unique feature that allows traders to determine their maximum losses before entering a position. This product automatically adjusts margin requirements based on the user's specific "knockout level", or maximum loss.
IG also offers a comprehensive CFD education platform through IG Academy, which helps new traders get up to speed and even practice risk-free with an account with simulated funds. Finally, IG's collaboration with Singapore Airlines allows users to earn KrisFlyer Miles on every trade. For more information, please refer to the toggles below.
Read Our Full Review
How to Choose an Online Brokerage Platform
Finding a trading platform that fits your needs is crucial to becoming a successful investor. You should consider the following features and requirements before picking an online brokerage.
1. Brokerage Fees and Minimum Funding
Brokerage fees are one of the most important factors when choosing a trading platform. Active traders should look for a firm with the lowest commission rates in markets they invest in most frequently. Investors who make fewer, larger investments should prioritise finding a platform with a low, flat fee per trade.
You should also consider the minimum funding requirements of different brokerage accounts to find one that fits your budget. Some trading platforms like Saxo Markets have different account tiers depending on the size of your total investment.
2. Market Access
Another crucial factor when selecting a brokerage account is market access. While amateur investors may be content with access to a few markets, experienced traders may seek access to stocks and ETFs in dozens of countries. If you are interested in trading CFDs, gold, crypto, or Forex, make sure you find a brokerage that offers these products. Trading platforms that offer advanced trading products and broad international access tend to have higher fees.
3. Usability and Quality of the Brokerage App
Make sure to explore the interface of different brokerage platforms and see which devices are supported. You want to use a platform that you can easily understand and have access to your finances from a desktop and mobile device.
4. Educational Materials and Customer Support
Many brokerage firms offer research materials, informative visuals, and live stock quotes that can be helpful for making informed investments, especially for beginner traders. You should also make sure the brokerage firm you select has a responsive customer support and security features to protect your account from fraudulent activity.
5. Automated Features and Advanced Tools
AI and technological advances are making it easier than ever to invest. Brokerage platforms like Interactive Brokers offer algorithmic trading which allows consumers to speed up execution, improve pricing, and time the market with ease. You can also leverage robo advisors to help you set goals and manage your trades.
Summary Table of Online Brokerage Commissions
Below, you'll find a summary table of SG trading platform fees. Being aware of these fees will help you determine which broker provides the cheapest rates for trading on their platform. For more information about a particular broker, you can read our reviews or click "Learn More" to get connected with the platform.
The table below provides commission, minimum fee, and market access information for online brokerages that will let you trade in a variety of global markets. To help you compare brokerages across various markets easier, we laid out fees for US, HK and Japan markets.
| Online Brokerage | US Commission & Min. Fee | Japan Commission & Min. Fee | HK Commission & Min. Fee | # Intl. Markets |
|---|---|---|---|---|
| Tiger Brokers | $/trade; min. $ | N/A | %; min. HKD 15 | 4 |
| Saxo Markets | %; min. USD 4 | %; min JPY 1, | %; min. HKD 90 | 36 |
| IG (CFD only) | $/share | % | % | 30+ |
| Interactive Brokers | $/share; min. USD 1 | %; min. JPY 80 | %; min. HKD 18 | 24 |
| Standard Chartered | %; min. $10 | %; min. JPY 1, | %; min. HKD | 10 |
| U Trade | %; min. $19 | N/A | %; min. HKD | 4 |
| Poems | $ (flat) | %; min. JPY 1, | %; min. HKD 30 | 21 |
| iOCBC | %; min. USD 20 | %; min. JPY 3, | %; min. HKD | 26 |
| KGIFraser | %; min. $20 | %; min. JPY 1, | %; min. HKD | 15 |
| i*Trade | %; min. $15 | N/A | %; min. HKD | 6 |
| Citibank Brokerage | %; min. USD 25 | N/A | %; min. HKD | 3 |
| DBS Vickers | %; min. USD 25 | %; min. JPY 3, | %; min. HKD | 7 |
| RHB Securities | %; min. $20 | N/A | %; min. HKD | 7 |
| Maybank Kim Eng | %; min. USD 20 | %; min. JPY 3, | %; min. HKD | 9 |
| Lim & Tan Securities | N/A | %; min. S$70 | %; min. HKD | 12 |
| TD Ameritrade (thinkorswim) | S$S$15(USD) for US stocks, USD + $ per contract for options | |||
| FSMOne | %; min. USD | N/A | %; min. HKD 50 | 12 |
Types of Fees and Costs
There will be a few types of fees associated with different trades that you will need to know. Once you begin trading on an online trading platform you may come across several different types of fees.
| Type | Description |
|---|---|
| Commission fees | This is the most common and upfront fee traders should expect to pay. Think of it as a service charge that the online brokerage charges every time you want to execute a trade. The more frequent you trade the more fees you will pay. If you are a long-term trader and you expect to have low trade volume, then commission fees may not be your highest concern when shopping for a brokerage. |
| Spread | This refers to the difference between the sell (bid) and buy (offer) prices when trading certain assets. It is common to see a spread when trading forex or commodities and you will incur either gains or losses from the difference in the buy/sell prices. |
| Clearing & Trading Fees | If using a Central Depository account (CDP), you will pay clearing fees per completed transaction. You will also need to pay a trading fee of the contract value mandated by the Singapore Exchange (SGX). |
Types of Products You Can Invest With Online Brokerages
Online Brokerages are constantly updating their investment product offering for Singaporeans to grow their wealth. Here is a quick guide to some standard products you can invest using trading platforms in Singapore.
| Investment Product | Description |
|---|---|
| Commodities | Trading commodities involves raw materials like gold/silver, agricultural products, and oil. Investors trading in commodities must keep up to date with political, economic, and weather changes. |
| Equities | Equities or stocks is the buying and selling of shares of a company. Most new investors think of equities when the topic of investment comes up among family and friends. Before purchasing any stock it is crucial to research and analyse the company and the fundamentals of its business. Read our basic guide to stocks to get started. |
| Mutual Funds | A mutual fund is a pool of money from many investors used to buy other securities. Usually a mutual fund will consist of stocks and bonds, but can include other types of investments. Each mutual fund is managed by professional money managers and are generally considered safe investments. |
| ETFs | ETFs, track an underlying index fund and will mimic the performance of that index. For example, some online brokerages offer ETFs that track the S&P or NASDAQ. Unlike an index fund, ETFs can be bought and sold like stocks throughout the day. If you are a passive investor, ETFs are a good way to begin your investing journey. |
| Forex (FX) | Forex trading involves the buying and selling of currency pairs. Most online brokerages in Singapore that offer forex accounts will have a menu of different major foreign currency options to choose—like SGD/USD or EUR/USD pairs to choose from. You will |
| Index Funds | Index funds is a type of mutual fund or ETF that matches the performance of a financial market index or specific portfolio of securities. For example the Straits Times Index (STI) tracks the performance of the top 30 companies in the SGX. These funds provide broad market exposure and like ETFs are safe options for passive investors. |
| Bonds | Bonds are fixed income units that represent corporate debt. It is like a company taking out a loan. Instead of getting one from a bank, corporations can issue out bonds and get funds from investors. The most common bonds are corporate and municipal bonds (issued by the government). |
| CFDs | A CFD (Contract For Difference) is an agreement between you and the brokerage firm to exchange the difference in the value of specific investment from when you first opened a position to when you closed it. You can typically find brokerages offering CFDs for Forex, commodities, and equities. |
| Futures | Futures trading are financial contracts that obligates involved parties to buy or sell an asset at a future date at an agreed upon price. That asset can range widely from commodities, equities, ETFs, and more. Futures trading is essentially wagering on the price movement of an asset. Since it is like borrowing money on a bet, futures trading can increase your risk but also magnify returns. |
Frequently Asked Questions
Want to learn more about investing? Here are some answers to commonly asked questions.
Online trading is safe as online brokerages have a high level of platform security and strive to create a safe trading environment. If you're investing online, you should check that your online brokerage is regulated and licensed by the Monetary Authority of Singapore.
That being said, there are risks you should be aware of before you start trading. For instance, every investment comes with a risk of losing all the money you put into the investment. Moreover, because it's very easy to top up your account and make a trade, those prone to gambling may be more at risk of losing money. Moreover, because online trading relies on the individual to make a trade and not a broker or professional investor, it's up to you to do proper due diligence and it may be difficult to get the financial advice you need.
Investment portfolios include aggressive, defensive, income, speculative, and hybrid portfolios. These portfolios usually contain a collection of stocks, bonds, and other financial instruments that help you diversify your investments. There are pros and cons to each, though generally speaking, you should choose a portfolio based on your risk tolerance. For example, those who can afford to play around with their money could invest in an aggressive portfolio, which includes financial products that have greater price fluctuations and the ability to have high gains. On the other hand, more risk-averse investors or those who are closer to retirement and are looking to secure more funds should consider a more defensive portfolio.
Put simply, stocks are a type of financial product that represents your partial ownership in a company. When stocks appreciate, you can sell the stock for a profit. Moreover, some stocks pay annual dividends (some of the company's annual profit) to shareholders. On the other hand, bonds are fixed-income securities that represent a loan made by an investor to a borrower. For example, when you buy a government bond, you are lending money to the government for a risk-free return.
When you buy a Contract for Difference (CFD), you are essentially buying a contract that allows you to predict a share's price movements. You make money on the difference in price between the opening and closing trades. These short-term investments are very popular for foreign exchange and commodities like grains, gold, oil, and natural gas.
Finally, an "option" gives investors the opportunity to purchase a share at a specific price in the future. A "future", however, requires the investor to purchase the shares in the future at the previously agreed-upon price. Because of the speculative nature of these products, they are popular with more experienced investors.
A mutual fund is a portfolio consisting of securities like stocks, bonds, and other financial assets. A primary benefit of mutual funds is that they offer professionally managed solutions for individual investors. Moreover, mutual funds are a good option for passive investors looking for longer-term investments.
Blue-chip stocks are shares of a large, publicly-traded company. These companies are usually worth billions of dollars and are considered safe investments. Many blue-chip companies pay annual dividends to shareholders, so they are common to have in income portfolios.
To trade financial products in the US stock market, check out whether or not your trading platform offers market access to places in the US like the New York Stock Exchange. Try and compare fees, as some international trading platforms could charge higher commission charges or currency conversion rates. In Singapore, there are several online trading platforms which offer low- or no-commission charges and expert market data on the US stock market.
While signing up to an online trading platform is easy, actually investing your money into the stock market might take some time. To get the best results and learn the most, you should consider a user-friendly platform with special tools for beginners. For instance, Saxo Markets offers analytical tools and market data to help inform investors' decisions on whether to invest in a product or not.
Before you invest any money, we recommend you weigh your priorities for a trading platform so you can choose the best one for you. If you would like to see the process and get accustomed to the way investments are made before you start trading yourself, you could invest in a managed portfolio like an ETF or unit trust.
Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between ), where he continues to provide business development consulting services to HR companies in Asia Pacific.
The best online brokerages for investors of all kinds, from kids to pros
Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards.
| Best online brokerages | Editor's Rating | Products | Fees | Investment choices | Next steps |
/5 | Basic Schwab brokerage account for hands-on trading; Schwab Intelligent Portfolios, a robo-adviser | Commission-free ETF and stock trading online; $5 for phone trades, $25 for broker-assisted trades | Stocks, ETFs, options, futures, mutual funds, money market funds, and bonds | Learn more | |
/5 | Self-directed Active Investing account; managed Automated Investing portfolios | Commission-free ETF, stock, trading; expense ratio on SoFi ETFs higher than some other providers | Stocks, ETFs, cryptocurrencies | Learn more | |
/5 | Full range of tax-advantaged retirement accounts along with taxable brokerage accounts | Commission-free ETF and stock trading; selection of no-transaction-fee mutual funds | Stocks, ETFs, mutual funds, money market funds, options, bonds, precious metals, CDs, and IPOs | Learn more | |
/5 | Online trading platform that's great for new investors as well as thinkorswim, a platform for advanced investors | No minimum balance or recurring fees on self-directed accounts; % annual fee on managed accounts; $ fee for some mutual fund trades | Stocks, ETFs, options, mutual funds, futures, forex, IPOs, and bonds | Learn More | |
Best online brokers for stock trading in March
Technology has ushered in a new era in the investing world, and it&#x;s never been easier to learn how to buy stocks online. But what&#x;s the best online broker for stock trading? This depends on the type of investor you are and the features you need the most.
Bankrate analyzed the major players to help you find the best online brokers for stocks. Here are our top picks.
The best online brokers for stocks in
What is an online stock broker?
An online broker is a financial institution that allows you to purchase securities, including stocks, through an online platform. Online brokers are sometimes referred to as discount brokers because they offer a considerable discount to what the typical full-service brokerage firm charges.
With an online broker, you won&#x;t get the same financial advice or investment recommendations that full-service brokers typically provide, but you will get commission-free trading and access to a number of other services and products depending on which broker you choose. Choosing an online broker makes sense for most investors.
What to consider when choosing a broker
The best online stock trading websites offer investor-friendly features and fees traders can easily justify. To come up with the list of firms consumers should consider this year, we considered the following factors:
- Price: When it comes to fees, you&#x;re in luck &#x; fees have been dropping swiftly as most online brokers have slashed their trading commissions on stocks and ETFs to $0. For this list of best online trading sites, we considered fees and trading costs to see how they stack up.
- Broker resources: You&#x;ll also want to consider factors like the kind of advice and research tools from the broker, the quality of the digital trading app, and the ability to place trades quickly and reliably, among other details.
- Strategy: The account you really want will ultimately come down to your personal investment strategy &#x; including how frequently you plan to trade and whether you&#x;re a beginner or are more experienced. We considered how each investing platform tailored its offerings to a different type of consumer.
Overview: Top online stock brokers in March
Charles Schwab
Charles Schwab has a long pedigree of helping individual investors, and that tradition remains firmly intact. The company was ranked by J.D. Power from as Highest in Investor Satisfaction with Full Service Brokerage Firms, Three Years in a Row. For the survey, Schwab ranked top among do-it-yourself investors, but it slipped one spot in the rankings.
The broker remains a great choice overall &#x; offering great trading tools, excellent customer support, and a wide range of research and educational materials, all with no commission.
Charles Schwab also has an innovative customer service policy that says clients can get refunds on related commissions, a transaction fee, or an advisory program if they feel dissatisfied.
Schwab was named the best broker overall, as well as the best broker for buy-and-hold investors, in the Bankrate Awards.
Pricing: Schwab meets the industry standard on stock and ETF commissions &#x; zero &#x; which it helped usher in. Options trades, though, still ring up a $ per-contract fee.
Read more in Bankrate&#x;s full review of Charles Schwab.
Fidelity Investments
Whether you&#x;re looking for a great trading platform, low commissions or helpful customer support, Fidelity will do right by you. This broker does it all well, and it&#x;s one of the easiest to use, especially if you&#x;re just starting out, but works well for advanced investors, too.
Fidelity has a strong reputation for offering some of the best research and tools for investors planning for retirement. The information available on its platform &#x; which includes sophisticated screening tools &#x; makes the account a good option for investors who want to dig in.
Bolstering its reputation further is the fact that Fidelity secured the second spot in Investor&#x;s Business Daily&#x;s investor survey, which polled the people who ought to know best &#x; customers who actually use their services.
Fidelity was named the best broker for beginner investors, as well as the best broker for retirement investing, in the Bankrate Awards.
Pricing: Along with most of the industry, Fidelity dropped its trading commissions to zero, a boon to all traders, but especially long-term buy-and-hold investors. Fidelity also has zero fees on many other services that other brokers routinely charge for.
Read more in Bankrate&#x;s full review of Fidelity.
TD Ameritrade
TD Ameritrade is a great choice for investors of all abilities, whether you need guidance and education as you&#x;re starting out or when you&#x;re ready to turn to the broker&#x;s high-powered thinkorswim trading platform. Either way, you&#x;ll likely find what you need at TD Ameritrade.
The broker also gives you access to a library of educational content that includes videos, webcasts and thousands of articles. Yes, that may sound a bit overwhelming, but you can select exactly the information you need, whether you&#x;re a novice or an expert looking for a little extra edge.
You can trade a range of securities beyond stocks. Bonds, options, and futures are available, and you can trade cryptocurrency via futures. You can do it all via the broker&#x;s mobile app, too.
Pricing: TD Ameritrade charges no commissions for its stock and ETF trades, and trading options now costs $ per contract. With no account minimums, TD Ameritrade&#x;s an attractive option for beginners.
Read more in Bankrate&#x;s full review of TD Ameritrade.
(Charles Schwab has purchased TD Ameritrade, and will eventually integrate the two brokers.)
E-Trade
E-Trade provides a solid option, regardless of what type of investor you are &#x; passive or active, novice or expert. And it has a great educational section, offering not only a library of educational tools, but a merry-go-round of webinars, news clips and educational videos aimed at investors of all levels. You can also check in with E-Trade analysts for up-to-date analysis and commentary that can help you craft your trading strategy.
If you&#x;re worried about being left to invest on your own, rest assured that E-Trade also offers 24/7 phone support and an online chat option. Active traders may appreciate the broker&#x;s flagship trading platform, Power E-Trade, which offers tons of tools and comes in a mobile version, too.
Pricing: Like other major brokers, E-Trade charges zero commissions for stock and ETF trades and $ per options contract. Traders can receive a discounted commission of $ per contract if they make 30 or more trades each quarter.
Read more in Bankrate&#x;s full review of E-Trade.
Robinhood
Robinhood is a relative newcomer, but the online brokerage has made a quick splash, developing millions of devoted followers for its commission-free trading and user-friendly mobile app.
You&#x;ll get no-fee trading on stocks and ETFs as well as options and cryptocurrencies. It also has a cash management account, so you can make a quick transfer whenever you want to trade.
Robinhood&#x;s research tools are less robust (i.e. almost non-existent) than other brokers&#x; offerings, though you can join their premium tier, Robinhood Gold, for $5 a month and gain access to some research and margin trading. One downside: Robinhood offers only individual taxable accounts, at least for now, though it hopes to expand to joint accounts and IRAs down the road.
Pricing: Not only does the fintech company offer zero-fee stock and ETF trading, it is aggressively striving to disrupt the industry and become a platform that offers all kinds of financial products and services. For example, it also offers free trading for options and cryptocurrency.
Read more in Bankrate&#x;s full review of Robinhood.
Interactive Brokers
Interactive Brokers has long been known as a brokerage for professionals and active investors, with a powerful trading platform and good trade execution. But it&#x;s taken strides in recent years to become more attractive to newer investors, in particular with a lite version of its service that has no-fee trading. It&#x;s also upped its game on customer support and basic research.
That shift has taken the rougher edges off a formerly no-frills service that even the pros thought was stripped down in favor of low costs and trade execution. A newly designed customer support page is easier to navigate while still providing the old page&#x;s high level of functionality.
Pricing: Interactive Brokers really kicked off the industry&#x;s shift to no fee stock trading. Its Lite service charges no fees, while its Pro service charges a $1 per trade for up to shares, with subsequent shares costing a half-penny each, though volume pricing is also available. Options cost $ per contract, and volume-based pricing is available here too for truly active traders.
Read more in Bankrate&#x;s full review of Interactive Brokers.
Merrill Edge
Merrill Edge is a full-service broker that offers high-quality tools for traders while still catering to investors looking to get started. That&#x;s especially evident when you consider that the broker has more than 2, locations inside parent Bank of America&#x;s branches, making human advisors easily accessible, a particularly valuable feature for newer investors needing a guiding hand.
If you become a preferred client of the broker, you&#x;ll receive access to detailed research reports on individual stocks, but you can receive research from Morningstar and Lipper, too. Merrill also does well with educational materials, helping you plan your financial future. Customer support is available 24 hours a day throughout the week, so someone is always on hand to help you out.
Pricing: Merrill Edge charges no fees for stock and ETF trades, while options trades come in at $ per contract, right in line with most of the industry.
Read more in Bankrate&#x;s full review of Merrill Edge.
Start trading stocks quickly and easily
Online stock trading may sound complicated, but it&#x;s fairly easy once you&#x;re set up with an account. Here are a few tips on how to get started quickly:
Comparing the Best Brokerages and Trading Platforms in Singapore
When comparing trading platforms, consumers are faced with many different factors to consider (i.e. UI/UX, market access, product best investment brokerage firms 2022, etc.). It can be overwhelming, but a great place to start is by looking at the fees associated with each trade. Some platforms offer free or promotion periods where fees are waived along with other perks and benefits. Below is a graph showing the minimum commission fees for Singapore markets by brokerage or trading platform.
Minimum commission fees in Singapore
Best Overall in Singapore: Saxo Markets
PROMO: Claim up to SGD in commission credit
Promotions:
|
|---|
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| Singapore | best investment brokerage firms 2022 rowspan="">% | % | % | % | % | % |
| US | % | % | % | % | % | % |
| Japan | % | % | % | % | % | % |
| HK | % | % | % | % | % | % |
| EU | %% | %% | %% | % | % | % |
| * Saxo min. SG: S$5; US:$3-$4; JPY1,; HKD; EUR | ||||||
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| US 30 | ||||||
| US | ||||||
| Japan | 10 | 10 | 10 | 8 | 6 | |
| HK 50 | 7 | 7 | 7 | 6 | 5 | |
| GER 30 |
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| EUR USD | ||||||
| USD JPY | best investment brokerage firms 2022 rowspan=""> | |||||
| GBP USD | ||||||
| AUD USD | ||||||
| EUR JPY | ||||||
| * figures based on min. advertised spreads | ||||||
Saxo Markets is the best online brokerage in Singapore because it combines low cost, great market access, and an easy user interface into one platform.
First, Saxo charges just % commission on trades in Singapore, with a minimum cost of S$5. And if you were to sign up to their higher-tier plans for a monthly fee which can be waived off, you’ll be able to enjoy best investment brokerage firms 2022 as low as % per trade (minimum S$1). Saxo is currently holding a promotion where new users will be given a best investment brokerage firms 2022 upgrade to a Gold Plan where they enjoy monthly commission credits, lower rates for trading both in Singapore best investment brokerage firms 2022 international markets, have access to live market data and more.
Not only that, Saxo doesn't charge any hidden fees, i.e., no inactivity fee, no platform fee, no maintenance fee, etc. Saxo can be effective not just for long-term investors, but also for frequent traders who invest S$, or less.
On top of its low fees, Saxo offers online trading in 60 exchanges worldwide, and market-leading commission rates for the major international markets such as the U.S., Hong Kong, and Japan.
Additionally, Saxo is one of the best platforms for trading foreign currencies, since its FX spreads are consistently among the lowest available, best investment brokerage firms 2022, beating competitors by a significant margin. Finally, our analysts found Saxo Markets's trading platform to have the most intuitive user interface.
Read our full review
Cheapest Online Trading in SG, best investment brokerage firms 2022, US, and HK: moomoo powered by FUTU
PROMO: Get a free Sea Limited share and days unlimited commission-free trading when you sign up with moomoo today
Promotions:
|
|---|
Market | moomoo Brokers Fee | Min Commission | Platform Fee | Industry Average Commission Fee | Industry Average Min. Commission |
|---|---|---|---|---|---|
| Singapore | % | SGD | %(min. SGD ) | % | SGD 25 |
| US | USD | USD | USD (min. USD 1) | % | USD |
| HK | % | HKD 3 | HKD 15 | % | HKD |
| China A | % | CHN 3 | CHN 15 | ||
Best investment brokerage firms 2022 colspan="" rowspan="">The U.S. | Hong Kong | Singapore | |
|---|---|---|---|
| Products | Stocks, ETFs, Stock Options, ADR | Stocks, ETFs | Stocks, ETFs, REITs |
moomoo (investment products offered by FUTU) has the lowest commission fees on the market, an intuitive trading platform, and access to US, HK, China A and SG markets—making moomoo an excellent choice for new investors, best investment brokerage firms 2022. With their special welcome promotion, new accounts can receive real-time level 2 market data, 1 Apple (AAPL) share (and more) for free.
As one of the cheapest online trading platforms in SG, the commission charged for every trade in SG and HK markets is only %, which is much lower than other online trading platforms which range between %%. Similarly, moomoo only charges USD per order for US stocks, ETFs, and American depositary receipts (ADRs). Furthermore, with their current promotion, you can enjoy commission-free trading for days in all SG, HK and US markets. Even after the promotional period ends, new investors will still enjoy the lowest commissions in the market.
If you are looking for a simple UI/UX mobile application, moomoo's intuitive app offers tools like community chat functions, technical indicators, ratings, and insights. So, those looking to trade SG, HK, and US stocks can quickly download the app, set up an account, and begin trading. Unfortunately, moomoo's product offering and market access are currently not as broad as some of its competitors. However, they are relatively new and are expecting to broaden their product offering soon.
Similar to moomoo But With More Market Access: Tiger Brokers
PROMO: Get 60 Commission-Free Trades and more rewards today.
Promotions:
|
|---|
Market | Tiger Brokers Fee | Min Commission | Industry Average Fee | Industry Average Commission |
|---|---|---|---|---|
| Singapore | % | SGD | % | S$25 |
| US | $ per share | USD per order | % | USD |
| HK | % | HKD 15 | % | HKD |
| China | % | RMB 15 | N/A | N/A |
| Australia | % | AUD 8 | N/A | N/A |
| Futures | USD$USD$ |
Market/Type | The U.S. | Hong Kong | Singapore | Australia | China |
|---|---|---|---|---|---|
| Products | Stocks, ETFs, Stock Options, Futures | Stocks, Warrants, CBBCs, Futures | Stocks, ETFs, Rights Issue, Futures, best investment brokerage firms 2022, REITs | Stocks | A-shares (in HKEX Northbound Trading) |
Tiger Brokers has one of the lowest commission fees on the market, an easy-to-use platform, and live prices for the US and Singapore, making it a great option for new and seasoned investors. The commission charged for every trade is just %, which is much lower than other online best investment brokerage firms 2022 who charge around %%.
This is still impressively lower than the average in Singapore, which is %. Additionally, new customers can also enjoy Tiger Coins, 60 commission-free trades (within days) and 1 share of Apple (AAPL) once the account is funded with an initial deposit of S$2, or more. Moreover, Tiger Brokers charges neither a custodian nor a currency conversion fee, and it's fairly quick to open an account ( days).
For those looking to invest abroad, Tiger Brokers' platform gives customers real-time access to markets in the United States, Hong Kong, China, and Australia. For trading in the US, you can invest best investment brokerage firms 2022 as little as USD $ commission with a minimum fee of USD $ per trade. For those who prefer to trade in Hong Kong, Tiger Brokers' minimum fee is only HKD $ This is one of the most attractive rates in Singapore, as most firms charge around HKD $HKD $ Trading futures is also simple, as there are built-in features on their platform to give customers support with these deals. With low trading fees, a user-friendly platform, and access to current market data, Tiger Brokers is a great platform.
Read our full review
Best Online Trading Platform in Singapore for US Stocks & ETFs: Syfe Trade
PROMO: Earn more than SGD cash credits to buy the US stock or ETF of your choice
Promotions:
|
|---|
Syfe Trade | Commission-Free Trades a month | Commission rate |
|---|---|---|
| Five free trades a month^ | USD flat fee^ | |
| After Introductory Offer | ||
| Two free trades a month | USD fee | |
Syfe Trade has the lowest commission fees on the market for trading US stocks and ETFs.
For a start, the Singapore online brokerage is giving every investor five free trades per month, and thereafter a flat fee of USD per trade, during its introductory offer which will end at the first quarter of Even after its introductory offer comes to an end, Syfe Trade remains extremely competitive by giving its investors two free trades per month, and a flat fee of USD per trade.
Brokerage | Commission Rate | Minimum Commission | ||||
|---|---|---|---|---|---|---|
| Syfe Trade | USD flat fee | - | ||||
| Saxo Markets (Bronze Plan) | % | USD 4 | ||||
| Tiger Broker | per share | USD | ||||
| moo moo | per share | USD | ||||
| *moo moo & Tiger Brokers rate consists of commission and platform fees | ||||||
Syfe Trade also allows investors to engage in fractional trading for US stocks and ETFs, allowing retail investors with smaller capitals to get the US stock or ETF of their choice from just USD 1.
The only best investment brokerage firms 2022 to Syfe Trade, for now at least, is that it only offers access to the US market. While there are plans to expand into more markets, including Singapore, users who are looking to invest in the short run would be better off looking at other choices.
If you are willing to wait, however, you’ll be happy with Syfe Trade’s simple and intuitive interface and the protection for up to K against brokerage failure.
Similar to other online brokerage offerings in Singapore, best investment brokerage firms 2022, Syfe Trade gives its users live US market data as well to maximise your investment gains.
Read our full review
Honorable Mention For Best Market Access: Interactive Brokers
Read Review
| Interactive Brokers | Saxo Markets | |
|---|---|---|
| SG Stocks Commission Fee (Min. Fee) | % (S$) | % (S$5) |
| U.S. Stocks Commission Fee (Min, best investment brokerage firms 2022. Fee) | $ per share how make money on stocks ) | best investment brokerage firms 2022 rowspan="">% (USD 4) |
| Hong Kong Stocks Commission Fee (Min. Fee) | % (HKD 18) | % (HKD ) |
| Japan Stocks Commission Fee (Min. Fee) | % (JPY 80) | % (JPY ) |
In terms of trading securities in non-Singapore markets, Interactive Brokers' commission levels are hard to beat. This is attractive to investors that may feel limited by the number of stocks on the Straits Times Index and feel inclined to consider other options. As you can see in the table below, Interactive Brokers has the lowest commission costs for any region outside of Singapore. Still, Saxo is the best option for those who want access to every market including Singapore.
Read our full review
Best Online Trading Platform for Beginners
Promotions:
|
|---|
Market | Bronze | Silver | Gold | Platinum | Diamond | Industry Average |
|---|---|---|---|---|---|---|
| Singapore | % | % | % | % | % | % |
| US | % | % | % | % | % | % |
| Japan | % | % | % | % | % | % |
| HK | % | % | % | % | % | % |
| EU | %% | %% | %% | % | % | % |
| * Saxo min. SG: S$5; US:$3-$4; JPY1,; HKD; EUR | ||||||
Saxo Markets offers the best online trading platform for those who best investment brokerage firms 2022 looking to invest online, best investment brokerage firms 2022. With SaxoTraderGO, their platform designed for less-experienced traders, customers gain access to a variety of tools to help them research the best products for the trade. For example, their Fundamental Analysis Tool analyses company indicators to help you determine whether or not you want to invest. Interactive learners can also benefit from annotation features to save and take note of listings, graphs, and best investment brokerage firms 2022. Furthermore, the platform synthesizes both in-house and third-party research to constantly feed you up-to-date information, whether you are on your mobile or desktop.
Saxo Markets also delivers some of the lowest fees in the market (for, among others, Singapore, the US, Hong Kong and Japan), has the largest international market scope, and allows you to trade a variety of products like stocks, bonds, ETFs, mutual funds, foreign exchange, futures, etc. Finally, prior to opening an account you can both preview the platform on their website and try a day demo trial to practice using the platform. Although beginning to trade online can seem daunting, Saxo Market best investment brokerage firms 2022 supply you with all the tools you need to get started at low rates.
Read our full review
Best Platforms for CFD Trading
Contracts for difference (CFDs) allow individuals to speculate on the future price of an underlying asset, without actually owning the asset, best investment brokerage firms 2022. CFDs are also traded on leverage, giving traders additional buying power. For these reasons, they are popular among experienced traders in Singapore. Below we highlight two platforms that stand out for CFD trading.
Honorable Mention for Trading CFDs: IG
| IG | Saxo Markets (Bronze Plan) | ||
|---|---|---|---|
| CFD Commission for Stocks & ETFs: | |||
| Singapore | % | % | |
| U.S. | $/share | % | |
| UK | % | % | |
| Euro | % | % | |
| Japan | % | % | |
| Index CFD Spread: | |||
| US SP | |||
| US Tech | 1 | 1 | |
| Singapore | |||
| Hong Kong 50 | 5 | 5 | |
| Japan | 8 | 7 | |
| China A50 | 10 | 12 | |
| Australia | 1 | 1 | |
| Germany 30 | 1 | 1 | |
| Monthly Aggregated Contract Value (USD) | Monthly Bonus KrisFlyer Miles Payable | Total KrisFlyer miles after 1 year for each tier |
|---|---|---|
| $5,+ | 6, | |
| $10,+ | 1, | 13, |
| $15,+ | 1, | 21, |
| $20,+ | 2, | 30, |
| $25,+ | 3, | 45, |
IG is another leading brokerage with CFD offerings. While its commission fees are generally higher than those of City Index, it offers a few features that make it worth considering.
First, IG allows investors to adjust their exposure by trading fractions of a contract (e.g, best investment brokerage firms 2022. contracts of spot FX EUR/USD). Furthermore, IG offers Knockout CFDs, best investment brokerage firms 2022, which is a unique feature that allows traders to determine their maximum losses before entering a position. This product automatically adjusts margin requirements based on the user's specific best investment brokerage firms 2022 level", or maximum loss.
IG also offers a comprehensive CFD education platform through IG Academy, which helps new traders get up to speed and even practice risk-free with an account with simulated funds. Finally, best investment brokerage firms 2022, IG's collaboration with Singapore Airlines allows users to earn KrisFlyer Miles on every trade. For more information, please refer to the toggles below.
Read Our Full Review
How to Choose an Online Brokerage Platform
Finding a trading platform that fits your needs is crucial to becoming a successful investor. You should consider the following bitcoin mining mit eigenem pc and requirements before picking an online brokerage.
1. Brokerage Fees and Minimum Funding
Brokerage fees are one of the most important factors when choosing a trading platform. Active traders should look for a firm with the lowest commission rates in markets they invest in most frequently, best investment brokerage firms 2022. Investors who make fewer, best investment brokerage firms 2022, larger investments should prioritise finding a platform with a low, flat fee per trade.
You should also consider the minimum funding requirements of different brokerage accounts to find one that fits your budget. Some best investment brokerage firms 2022 platforms like Saxo Markets have different account tiers depending on the size of your total investment.
2. Market Access
Another crucial factor when selecting a brokerage account is market access, best investment brokerage firms 2022. While amateur investors may be content with access to a few markets, experienced traders may seek access to stocks and ETFs in dozens of countries, best investment brokerage firms 2022. If you are interested in trading CFDs, gold, crypto, or Forex, make sure you find a brokerage that offers these products. Trading platforms that offer advanced trading products and broad international access tend to have higher fees.
3. Usability and Quality of the Brokerage App
Make sure to explore the interface of different brokerage platforms and see which devices are supported. You want to use a platform that you can easily understand and have access to your finances from a desktop and mobile device.
4. Educational Materials and Customer Support
Many brokerage firms offer research materials, informative visuals, and live stock quotes that can be helpful for making informed investments, especially for beginner traders. You should also make sure the brokerage firm you select has a responsive customer support and security features to protect your account from fraudulent activity.
5. Automated Features and Advanced Tools
AI and technological advances are making it easier than ever to invest. Brokerage platforms like Interactive Brokers offer algorithmic trading which allows consumers to speed up execution, improve pricing, and time the market with ease. You can also leverage robo advisors to help you set goals and manage your trades.
Summary Table of Online Brokerage Commissions
Below, you'll find a summary table of SG trading platform fees. Being aware of these fees will help you determine which broker provides the cheapest rates for trading on their platform. For more information about a particular broker, you can read our reviews or click "Learn More" to get connected with the platform.
The table below provides commission, minimum fee, and market access information for online brokerages that will let you trade in a variety of global markets. To help you compare brokerages across various markets easier, we laid out fees for US, HK and Japan markets.
| Online Brokerage | US Commission & Min. Fee | Japan Commission & Min. Fee | HK Commission & Min. Fee | # Intl. Markets |
|---|---|---|---|---|
| Tiger Brokers | $/trade; min. $ | N/A | %; min. HKD 15 | 4 |
| Saxo Markets | %; min. USD 4 | %; min JPY 1, | %; min. HKD 90 | 36 |
| IG (CFD only) | $/share | % | % | 30+ |
| Interactive Brokers | $/share; min. USD 1 | %; min. JPY 80 | %; min. HKD 18 | 24 |
| Standard Chartered | %; min. $10 | %; min. JPY 1, | %; min, best investment brokerage firms 2022. HKD | 10 |
| U Trade | %; min. $19 | N/A | %; min. HKD | 4 |
| Poems | $ (flat) | %; min. JPY 1, | %; min. HKD 30 | 21 |
| iOCBC | %; min. USD 20 | %; min. JPY 3, | %; min. HKD | 26 |
| KGIFraser | %; min. $20 | %; min. JPY 1, | %; min, best investment brokerage firms 2022. HKD | 15 |
| i*Trade | %; min. $15 | N/A | %; min. HKD | 6 |
| Citibank Brokerage | %; min. USD 25 | N/A | %; min. HKD | 3 |
| DBS Vickers | %; min. USD 25 | %; min, best investment brokerage firms 2022. JPY 3, | %; min. HKD | 7 |
| RHB Securities | %; min. $20 | N/A | %; min. HKD | 7 |
| Maybank Kim Eng | %; min. USD 20 | %; min. JPY 3, | %; min. HKD | 9 |
| Lim & Tan Securities | N/A | %; min. S$70 | %; min. HKD | 12 |
| TD Ameritrade (thinkorswim) | S$S$15(USD) for US stocks, USD + $ per contract for options | |||
| FSMOne | %; min. USD | N/A | %; min. HKD 50 | 12 |
Types of Fees and Costs
There will be a few types of fees associated with different trades that you will need to know, best investment brokerage firms 2022. Once you begin trading on an online trading platform you may come across several different types of fees.
| Type | Description |
|---|---|
| Commission fees | This is the most common and upfront fee traders should expect to pay. Think of it as a service charge that the online brokerage charges every time you want to execute a trade. The more frequent you trade the more fees you will pay. If you are a long-term trader and you expect to have low trade volume, then commission fees may not be your highest concern when shopping for a brokerage. |
| Spread | This refers to the difference between the sell (bid) and buy (offer) prices when trading certain assets. It is common to see a spread when trading forex or commodities and you will incur either gains or losses from the difference in the buy/sell prices. |
| Clearing & Trading Fees | If using a Central Depository account (CDP), you will pay clearing fees per completed transaction. You will also need to pay a trading fee of the contract value mandated by the Singapore Exchange (SGX). |
Types of Products You Can Invest With Online Brokerages
Online Brokerages are constantly updating their investment product offering for Singaporeans to grow their wealth. Here is a quick guide to some standard products you can invest using trading platforms in Singapore.
| Investment Product | Description |
|---|---|
| Commodities | Trading commodities involves raw materials like gold/silver, best investment brokerage firms 2022, agricultural products, and oil. Investors trading in commodities must keep up to date with political, economic, and weather changes. |
| Equities | Equities or stocks is the buying and selling of shares of a company. Most new investors think of equities when the topic of investment comes up among family and friends. Before purchasing any stock it is crucial to research and analyse the company and the fundamentals of its business. Read our basic guide to stocks to get started. |
| Mutual Funds | A mutual fund is a pool of money from many investors used to buy other securities. Usually a mutual fund best investment brokerage firms 2022 consist of stocks and bonds, but can include other types of investments. Each mutual fund is managed by professional money managers and are generally considered safe investments. |
| ETFs | ETFs, track an underlying index fund and will mimic the performance of that index. For example, some online brokerages offer ETFs that track the S&P or NASDAQ. Unlike an index fund, ETFs can be bought and sold like stocks throughout the day. If you are a passive investor, ETFs are a good way to begin your investing journey. |
| Forex (FX) | Forex trading involves the buying and selling of currency pairs, best investment brokerage firms 2022. Most online brokerages in Singapore that offer forex accounts will have a menu of different major foreign currency options to choose—like SGD/USD or EUR/USD pairs to choose from. You will |
| Index Funds | Index funds is a type of mutual fund or ETF that matches the performance of a financial market index or specific portfolio of securities. For example the Straits Times Index (STI) tracks the performance of best investment brokerage firms 2022 top 30 companies in the SGX. These funds provide broad market exposure and like ETFs are safe options for passive investors. |
| Bonds | Bonds are fixed income units that represent corporate debt. It is like a company taking out a loan. Instead of getting one from a bank, corporations can issue out bonds and get funds from investors. The most common bonds are corporate and municipal bonds (issued by the government). |
| CFDs | A CFD (Contract For Difference) is an agreement between you and the brokerage firm to exchange the difference in the value of specific investment from when you first opened a position to when you closed it. You can typically find brokerages offering CFDs for Forex, commodities, and equities. |
| Futures | Futures trading are financial contracts that obligates involved parties to buy or sell an asset at a future date at an agreed upon price. That asset can range widely from commodities, equities, ETFs, and more. Futures trading is essentially wagering on the price movement of an asset. Since it is like borrowing money on a bet, futures trading can increase your risk but also magnify returns. |
Frequently Asked Questions
Want to learn more about investing? Here are some answers to commonly asked questions.
Online trading is safe as online brokerages have a high level of platform security and strive to create a safe trading environment. If you're investing online, you should check that your online brokerage is regulated best investment brokerage firms 2022 licensed by the Monetary Authority of Singapore.
That being said, there are risks you should be aware of before you start trading. For instance, every investment comes with a risk of losing all the money you put into the investment. Moreover, because it's very easy to top up your account and make a trade, best investment brokerage firms 2022, those prone to gambling may be more at risk of losing money. Moreover, best investment brokerage firms 2022, because online trading relies on the individual to make a trade and not a broker or professional investor, it's up to you to do proper due diligence and it may be difficult to get the financial advice you need.
Investment portfolios include aggressive, defensive, income, speculative, and hybrid portfolios. These portfolios usually contain a collection of stocks, bonds, and other financial instruments that help you diversify your investments. There are pros and cons to each, though generally speaking, you should choose a portfolio based on your risk tolerance. For example, those who can afford to play around with their money could invest in an aggressive portfolio, which includes financial products that have greater price fluctuations and the ability to have high gains. On the other hand, more risk-averse investors or those who best investment brokerage firms 2022 closer to retirement and are looking to secure more funds should consider a more defensive portfolio.
Put simply, stocks are a type of financial product that represents your partial ownership in a company. When stocks appreciate, you can sell the stock for a profit. Moreover, some stocks pay annual dividends (some best investment brokerage firms 2022 the company's annual profit) to shareholders. On the other hand, best investment brokerage firms 2022, bonds are fixed-income securities that represent a loan made by an investor to a borrower. For example, when you buy a government bond, you are lending money to the government for a risk-free return.
When you buy a Contract for Difference (CFD), you are essentially buying a contract that allows you to predict a share's price movements. You make money on the difference in price between the opening and closing trades, best investment brokerage firms 2022. These short-term investments are very popular for foreign exchange and commodities like grains, gold, oil, best investment brokerage firms 2022, and best investment brokerage firms 2022 gas.
Finally, an "option" gives investors the opportunity to purchase a share at a specific price in the future. A "future", however, requires the investor to purchase the shares in the future at the previously agreed-upon price. Best investment brokerage firms 2022 of the speculative nature of these products, they are popular with more experienced investors.
A mutual fund is a portfolio consisting of securities like stocks, bonds, and other financial assets. A primary benefit of mutual funds is that they offer professionally managed solutions for individual investors. Moreover, mutual funds are a good option for passive investors looking for longer-term investments.
Blue-chip stocks are shares of a large, publicly-traded company. These companies are usually worth billions of dollars best investment brokerage firms 2022 are considered safe investments. Many blue-chip companies pay annual dividends to shareholders, so they are common to have in income portfolios.
To trade financial products in the US stock market, check out whether or not your trading platform offers market access best investment brokerage firms 2022 places in the US like the New York Stock Exchange. Try and compare fees, as some international trading platforms could charge higher commission charges or currency conversion rates. In Singapore, best investment brokerage firms 2022, there are several online trading platforms which offer low- or no-commission charges and expert bitcoin near rockland maine data on the US stock market.
While signing up to an online trading platform is easy, actually investing your money into the stock market might take some time. To get the best results and learn the most, you should consider a user-friendly platform with special tools for beginners. For instance, Saxo Markets offers analytical tools and market data to help inform investors' decisions on whether to invest in a product or not.
Before you invest any money, best investment brokerage firms 2022, we recommend you weigh your priorities for a trading platform so you can choose the best one for you. If you would like to see the best investment brokerage firms 2022 and best investment brokerage firms 2022 accustomed to the way investments are made before you start trading yourself, you could invest in a managed best investment brokerage firms 2022 like an ETF or unit trust.
Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between ), where he continues to provide business development consulting services to HR companies in Asia Pacific.
Best Online Stock Brokers In (According To Readers)
The investing landscape has changed dramatically over the last few years. We've seen new technology drop commissions and expenses substantially (to $0 for most), new tools helping investors, and a whole lot of competition to stay at the top of the pack.
So, with all these changes, who do you (the readers) think is the best online stock broker in ? We have been polling our audience annually and we're excited to share the best investing platforms with you!
We break down the top five online stock brokers chosen by readers, along with some notable mentions, especially for certain use cases. We also highlight any bonus offers these companies currently have. If you're not using a top online stock broker yet, now is the time to make the switch!
What's interesting to see this year is all of the FinTechs have fallen out of the top 5 - which is a big change from prior years!
Note: The investing offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all investing companies or all investing offers available in the marketplace.
Fidelity took the top pick this year among all the brokerage and stock trading apps. They have a large amount of commission-free funds, low expenses, and a full range of account types to choose from. Even if you don't invest with a commission free fund, they are $0 for commissions for stocks, ETFs, and options trades.
Furthermore, many people are familiar with Fidelity because (along with Vanguard) they are one of the largest k plan administrators. That's why we name Fidelity our Best Online Broker for Retirement.
Plus, unlike Vanguard, Fidelity has offices nationwide. While almost everything can be done online, being able to easily go to an office can be helpful every now and then.
Fidelity Bonus Offers: After going commission-free, Fidelity dropped their bonus offers.
Open an account at Fidelity >>
Vanguard was the runner up this year, dropping a spot from last year, and it makes sense for a variety of reasons. Vanguard is stil consistently the low price index fund leader - and when you invest directly with Vanguard, you can potentially avoid commissions and fees on your mutual fund purchases. However, Vanguard had several hiccups with it's online platform and app (even though the re-designed app is modern and easy to use).
Furthermore, Vanguard offers the full range of account types, from IRAs to Solo k's, to plans and HSAs.
The big drawback to Vanguard is that they aren't as great to use for products outside of their own. Also, if you dive into the details on some of their products (like their Solo k), it's not always the most robust available.
Vanguard Bonus Offers: Vanguard doesn't run any bonus offers maybe they're just too good for that they don't need to entice you?
Open an account at Vanguard >>
Schwab has been moving up the rankings for the last few years - reaching third place this year in our list of the best online stock brokers.
What people love about Schwab is their great trading platform (which is commission-free) combined with a solid banking product, which other that Fidelity, most of the best investment brokerage firms 2022 here don't offer.
Furthermore, they have no purchase minimums for their mutual funds, so you can build an extremely low cost portfolio at Schwab using popular funds like Schwab Total Stock Market Index (SWTSX). And they also moved to $0 account minimums for most products.
Schwab Bonus Offers: They do offer a refer-a-friend bonus of up to $1, if you can get an invite!
Open an account at Schwab >>
TD Ameritrade is another company that's consistently at the top of the pack. We love TD Ameritrade's app, which we named as one of the best free investing apps. Plus, their Thinkorswim platform is top-notch for traders.
We're watching and waiting to see how Schwab handles the acquisition of TD Ameritrade, best investment brokerage firms 2022, which as completed last year. But as of now, no major changes are occuring.
TD Ameritrade is also on the commission-free bandwagon, offering $0 commissions on stock, option, and ETF trades.
Open an account at TD Ameritrade >>
E*TRADE made it's way back onto this the list after a few years of not making the cut. E*Trade has been working hard to compete with the other companies on this list, dropping to commission-free pricing and improving it's interface.
However, we would say they still generally lag in terms of usability compared to the companies above, and their customer service is lacking (they even eliminated online chat last year for many features).
They do have a pretty loyal following, and it will be interesting to see how J.P. Morgan handles them now that they are part of the company.
Open an account at E*TRADE >>
Honorable Mentions
These honorable mentions didn't make the top 5, but they are really worth a look if you want someone else to do the work for you when it comes to investing and setting up your portfolio.
These are companies that got votes and interest from our audience, but not enough to crack the top of the list.
M1 Finance
M1 Finance is a relative new comer but they've been doing some amazing things with low cost investing make money online no scams please banking.
What makes M1 Finance so great is list of bitcoin atm in philippines it allows you to setup a low cost portfolio for free. This portfolio can be one of their automated portfolios, or you could setup one of your own with almost any combination of ETFs and stocks. And for stocks, that includes investing in fractional shares as well.
Once you setup your portfolio, M1 helps you automatically re-balance when you deposit more money into your account. And when best investment brokerage firms 2022 sell, it also helps you re-balance by selling overweight items in your portfolio.
Plus, they offer a great banking product and even allow you to borrow against your portfolio with M1 Borrow.
The only real drawback to M1 is that it doesn't consider all of your portfolio - you need to do that. Also, it doesn't connect with platforms like Quicken or Personal Capital. You need to use their dashboard to track your portfolio.
M1 Finance Bonus Offer: You can get up to $2, if you transfer an account over.
Open an account at M1 Finance >>
Wealthfront made it's way back into the honorable mentions after being missing for a few years, best investment brokerage firms 2022. They're not really a brokerage firm, but a robo-advisor. And we've consistently named Wealthfront our pick for the best robo-advisor for high net worth individuals.
Wealthfront has become a popular choice simply because people want to set and forget their investments - simply deposit money and let the system do it's thing. Wealthfront makes it easy.
The big drawback here is the cost. Wealthfront charges a % asset-under-management fee for the ability to invest on their platform and have them take care of your portfolio.
Wealthfront Bonus Offer: None.
Open an account at Wealthfront >>
Betterment is a bit different that almost all the rest of these because they are a true robo-advisor. However, for those people that don't want to invest themselves, Betterment is a top notch choice for where to invest.
What makes Betterment great is that it's so easy to get started investing. You simply open an account, answer a few questions, and make a deposit. Betterment takes care of the rest.
The biggest drawback is cost. Their pricing is very transparent - % for their basic digital plan, and % for their premium plan. However, the more you have under management with them, the more it will cost you. $50, will cost you $ per year in management fees.
However, for those that don't want to ever think about their portfolio, a small, transparent management fee might be the way to go.
Betterment Bonus Offer: Up to 1 year managed free.
Open an account at Betterment >>
Robinhood has always been a controversial online broker and last year saw a lot of issues - especially around app outages, trading fiascos, and more. As a result, best investment brokerage firms 2022, Robinhood dropped out of the top 5.
Robinhood offers truly commission free trading. Like $0. Nada. Nothing. They were the first to offer this, but now everyone does.
However, Robinhood is the only one on this list that supports cryptocurrency trading on their platform.
It does come with some drawbacks beyond the media. The biggest is that they don't support many popular account types - specifically IRAs, but also joint accounts, trusts, and custodial accounts.
However, it's free!
Robinhood Bonus Offers: Get a random share of stock when you refer a friend.
Open an account at Robinhood >>
Final Thoughts
It was interesting to see the shift back to the "old guard" of investing this year. I think many people are realizing that, now given all pricing is the same, the full-service features, ability to open different account types, and reliability, are a lot more popular factors to consider than an app-only investing firm.
Furthermore, everyone on this list has made huge progress in developing top-notch apps, best investment brokerage firms 2022. So the experience is really on par (or better) than some of the FinTech firms.
Remember, this was based on an annual survey of our readers and Facebook group. We keep this updated throughout the year, and revisit the rankings annually.
The best online brokerages in Canada for
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If you rely on a financial advisor to invest for your future, odds are, you’re spending more on fees and add-on costs than you should. A bitter pill to swallow when considering Canadians already pay some of the highest fees in the world to invest their money.
Fortunately, online brokerages are here to help by empowering you to ditch your financial advisor, take investing into your own hands, and save a ton on fees in the process.
| Online brokerage | Avg. cost per trade | Min. investment |
|---|---|---|
| featured Questrade [Go to site] | 1¢ per share Min $ per trade | $1, |
| featured Wealthsimple Trade [Go to site] | None | None |
Qtrade Direct Investing [Go to site] | $ | None |
| TD Direct Investing | $ | None |
| BMO Investorline | $ | None |
| RBC Direct Investing | $ | None |
Best online brokerages in Canada for
Questrade
Questrade was an online brokerage before it was cool, and has made a name for itself in DIY investing circles as one of the lowest cost online brokerages in Canada.
When it comes to fees, Questrade has cut theirs best investment brokerage firms 2022 the bare minimum. There are no annual fees for Basic Accounts and purchasing ETFs are free, which allows you to build a passive index investing portfolio for almost $0. Questrade also low trading fees for stocks (starting from 1 cent per share with a minimum of $ up to a maximum of $ per trade), a low minimum account balance ($1,), and an easy sign-up process. For a detailed overview of Questrade's products, read our Questrade review.
| Administrative fees | No annual or quarterly account fees No low activity fees |
| Trading fees | Stocks: 1 cent per share (Min $ to Max $ per trade) ETFs: Free to purchase Sell: 1 cent per share (Min $ to Max $ per trade) Options: $ (+1 / contract) Mutual funds: $ per trade |
| Minimum investment | $1, |
| Insurance type | CIPF. Plus, your account is insured with an additional $10 million in private insurance |
| Sign up requirements | Sign up online with your name, address, social insurance number, employment information, best investment brokerage firms 2022, government-issued photo ID |
| Mobile App | Yes |
| Desktop App | Yes |
| Robo-Advisor Option | Yes. Questwealth Portfolios |
A stock, also known as a ‘share’ is a financial product you can purchase that signifies partial ownership of a corporation. Purchasing a corporation’s stock entitles you to a portion of the corporation’s earnings and assets. You can buy a series of stocks from different corporations to make up the equities section of your portfolio.
At 1 cent per share (min of $ up to a max of $), Questrade's commissions on stocks are extremely competitive.
With Questrade, you can even hold U.S. dollars and leverage the strategy known as Norbert's Gambit to costly avoid foreign exchange fees (%-2%) when trading stocks listed on the NYSE.
Wealthsimple Trade
Wealthsimple Trade is a new entrant to the online brokerage market, having just launched their mobile-only platform in March of An extension of the popular robo-advisor, Wealthsimple (from Superbowl ad fame) Wealthsimple Trade lets you buy and sell stocks and ETFs for $0.
| Administrative fees | No annual or quarterly fees or low activity fees |
| Trading fees | None (can only currently trade stocks and ETFs) Note: there is a % foreign exchange fee when trading US equities |
| Minimum investment | None |
| Insurance type | CIPF |
| Sign up requirements | Sign up via the mobile app with your name, email, address, shake your money maker information, and social insurance number |
| Mobile App | Yes |
| Desktop App | None |
| Robo-advisor option | Yes |
ETFs are a collection of securities like stocks and bonds that track an underlying index like the S&P ETFs have a price and are available to purchase like stocks.
It’s possible to build a completely balanced portfolio out of just a few low-cost ETFs, and if that is your strategy, you should choose an online brokerage like Wealthsimple Trade as it charges $0 when buying or selling ETFs.
Scotia iTRADE
Scotia iTRADE is ideal for people who like the security and dependability of knowing that their brokerage firm is backed by one of Canada’s Big Five banks.
You can put your money into a variety of investment types, including equities, ETFs, mutual funds, bonds, IPOs, Options, GICs, and even precious metals. Furthermore, with Scotia iTRADE, you can hold your investments in several kinds of accounts, such as personal, TFSAs, RRSPs, RRIFs, and more.
There is no minimum amount needed to open an account and there is even a “practice account” option for those learning the ropes of do-it-yourself investing as well as a suite of educational content and market analytics tools to inform your investment strategy.
Note, there is a base trading fee of $ for equities (there are cheaper alternatives), though active investors making at least trades per quarter will see their fees drop to a competitive $ Plus, for a limited time until June 30,you could pay as low as $ in commissions on equities*. Purchasing mutual funds is commission-free.
It’s worth best investment brokerage firms 2022 there is a low activity fee of $25 charged per quarter, however, it can be waived for registered accounts (including TFSAs and RRSPs), anyone under the age of 26, when you maintain a minimum balance of $10, or make at least one trade per quarter. Additionally, there’s a $ annual fee for registered and unregistered accounts, but it can also be waived depending on the size of your balance (at least $25,), your age (under 26), and how many commission-generating trades you make per year (at least 12).
Scotia iTRADE currently has an enticing welcome offer. You can get up to $1, cash (depending on how much you invest) and $ equity commission pricing or up to free equity trades when you become a Scotia best investment brokerage firms 2022 client*.
| Administrative fees | Up to $ in annual account fees for registered accounts (waived for accountholders under 26 years old, when at least $25, is invested, and/or 12 trades are made per quarter) $25 low activity per quarter (waived for registered accounts including TFSAs and RRSPs, accountholders under 26 years old, when at least $10, is invested, and/or one trade is made per quarter) |
| Trading fees | Stocks: $ per trade ($ for active trades who make at least trades per quarter) ETFs: $ per trade ($ for active trades who make at least best investment brokerage firms 2022 per quarter) Mutual funds: Free to purchase Options: $ per trade + $ ($ for active trades who make at least trades per quarter) |
| Minimum investment | None |
| Insurance | CIPF |
| Sign up requirements | Canadian resident, age of majority, social insurance number, government-issued photo ID, existing Canadian bank account |
| Mobile App | Yes |
| Desktop App | Yes |
| Robo-Advisor Option | No |
Looking to invest but don't want to trade individual stocks and ETFs yourself?
A low-fee robo advisor provides a hands-off and automated investment experience.
Qtrade Direct Investing
Qtrade has been operating in Canada since and has built its reputation on excellent third-party research availability and stellar customer service.
Qtrade’s base product is a little more expensive than some other best investment brokerage firms 2022 brokerages on this list, but they also allow you to buy mutual funds at no extra, which is less for a discount brokerage not lined to a big bank.
| Administrative fees | $25 per quarter (waived if you hold a minimum of $25, in investments, set up a recurring deposit of at least $ per month, best investment brokerage firms 2022, or are a qualified Young Investor under 30 years old) |
| Trading fees | Stocks: $ best investment brokerage firms 2022 trade ETFs: $ per trade (a select list of ETFs are free to purchase) Options: $ per trade (+ per contract) Mutual funds: Free to purchase |
| Minimum investment | None |
| Insurance type | CIPF |
| Sign up process | Social insurance number, government ID, employment details, assets, and net worth |
| Mobile App | Yes |
| Desktop App | Yes |
| Robo-advisor option | No |
Qtrade is one of the few discount brokerages that allow you to purchase mutual funds with no commissions. A mutual fund is a type of financial tool that is made up of stocks and bonds and is funded by a pool of investors, best investment brokerage firms 2022. Mutual funds are typically sold by financial advisors, but with Qtrade, best investment brokerage firms 2022, you can purchase mutual funds yourself with no commissions.
TD Direct Investing
TD Direct Investing is TD Bank’s (one of Canada’s five largest best investment brokerage firms 2022 DIY investing platform. TD Direct Investing has been available for a long time and is one of the personal-finance community’s go-to options to build a low-cost passive investing portfolio.
Their customer support is excellent, and you can visit their branch to open your account.
| Administrative fees | $25 per quarter (waived for accounts with at least $15, invested) $25 low activity per quarter (waived for registered accounts including TFSAs and RRSPs, accountholders under 26 years old, when at least $10, is invested, and/or one trade is made per quarter) |
| Trading fees | Canadian and US Stocks: $ per trade ($ for active traders who make at least trades per quarter) Mutual funds: Free to purchase Canadian and US Options: $ per trade + $ ($ for active traders who make at least trades per quarter) |
| Minimum investment | None |
| Insurance type | CIPF |
| Sign up requirements | Social insurance number, government ID, employment details, sign up online, over the phone, or in-person |
| Mobile App | Yes |
| Desktop App | Yes |
| Robo-advisor option | No |
BMO Investorline
BMO InvestorLine Self Directed is not the best investment brokerage firms 2022 option for online brokerages, but it has some of the best customer service in the business and an award-winning online platform.
If you’re new to investing, BMO InvestorLine also has a beginner-friendly option called adviceDirect, that combines DIY investing with personalized recommendations from a registered advisor.
| Administrativefees | $25 per quarter on non-registered accounts (can be waived when at least $15, is invested) $$ in annual fees on registered accounts (can be waived when at least $25, is invested) |
| Trading fees | Stocks: $ per trade ETFs: $ per trade Mutual funds: Free to purchase Options: $ per trade + $ |
| Minimum investment | None |
| Insurance type | CIPF |
| Sign-up requirement | Social insurance number, government-issued photo ID, and employment and banking information. |
| Mobile App | Yes |
| Desktop App | Yes |
| Robo--advisor option | BMO adviceDirect, SmartFolio |
An online brokerage is a platform that enables you to buy and sell stocks, bonds, exchange-traded funds, mutual funds, and more, all within a trading account. The platform is usually available through an online portal, a desktop app, and a mobile app.
The fees associated with this kind of software are much, much lower than those you’ll pay with a financial advisor which is why they are also sometimes called discount brokerages in Canada.
Here’s how an online brokerage works compared to a regular broker. With a regular broker, you’ll transfer money into your trading account (probably at one of Canada’s big five banks, or maybe at an investment firm) and your financial advisor will handle investing your money according to your goals and your risk profile.
You’ll receive a regular statement about the performance of your investments, and the fees you pay are built into your investment performance. All you have to do with a financial advisor is have a quick minute meeting, set up an automatic contribution, and check your statements periodically.
With an online brokerage, you’ll invest your money yourself, choosing a combination of stocks, bonds, and ETFs to create a balanced portfolio that will reach your long-term goals.
There is no oversight with an online brokerage, and aside from a helpful education center, you are responsible for your investments, including quarterly rebalancing. Instead of paying fees as a percentage of your overall investments, you’ll pay per trade.
There are several pros and cons to using an online broker over a brick-and-mortar broker, and depending on your unique needs, an online broker may not be the best choice for you. Here are some pros and cons to consider.
Online brokerages are typically used by Canadians to invest their money in financial tools that have a higher risk, but also higher returns. These higher-risk investments are ideal for goals that have a time horizon of five years or more, best investment brokerage firms 2022. If you need your money sooner than five years, best investment brokerage firms 2022, you’ll be better off using low-risk financial tools like savings accounts or GICs or TFSA or RRSP.
- Less expensive: You could potentially save thousands of dollars in fees over the long term with an online brokerage instead of using a financial advisor.
- More Flexible: Instead of choosing from a few pre-built portfolios, you can build a custom portfolio that meets your own unique needs and investment goals.
- More Control: Interested in investing only in green technology? What about Halal investing? When you design your portfolio, you control what you buy, and what you don’t.
Naturally, there can be some downsides too, depending on your investing style. A few cons to using an online brokerage in Canada are listed below.
- Limited support: While an online brokerage may best investment brokerage firms 2022 a suite of tools and data to help inform your investment decisions, the act of buying and trading equities and mutual funds will ultimately fall on you. There's no real guidance or support in terms of what you should do with your money and limited automation, best investment brokerage firms 2022. That can be overwhelming for some who prefer simplicity over complete control.
- More work: Instead of sitting back and setting up an automatic contribution to your retirement accounts and perusing your statements, best investment brokerage firms 2022, you’ll need to log on and physically make trades and rebalance your portfolio.
- Market corrections: Market corrections can be terrifying to endure, best investment brokerage firms 2022, so if you are planning to use an online brokerage, make sure you have the mental fortitude necessary to avoid tinkering with your investment portfolio during a market correction. A financial advisor can keep you on the straight and narrow during a correction, but with an online broker, you’re on your own.
More on the topic of online brokers
Mikael Castaldo
The main benefit to using an online brokerage is the money you’ll save on fees, but low fees are not the only factor you should consider when choosing the right online broker for your needs.
Trading fees
Not all online brokerages charge the same fees, and the fees can change depending on the type of investment you plan to purchase, and how frequently you make trades. If you are planning to build a passive portfolio out of ETFs, then you should look for an online brokerage with free ETF purchases. If you are planning to purchase stocks and bonds individually, and trade at a higher volume, best investment brokerage firms 2022, you should prioritize an online brokerage that has high-quality trading platforms and access to third-party research.
Account fees
Most online brokerages also charge administrative account fees determined by the assets you hold in a single account or the size of your portfolio across all accounts. If you have a smaller portfolio, best investment brokerage firms 2022, these fees will best investment brokerage firms 2022 erode your returns, so it’s best to choose a brokerage that doesn’t charge those smaller portfolio fees.
Account minimums
Some online brokerages also have account minimums, usually around $5, If your portfolio is small or you are investing in Canada for the first time, your choices in online brokerages may be limited.
Customer service
If you’re new to investing online, there will be a learning curve when you begin building your portfolio and making your first trades. An online brokerage with a good customer service track record will ensure your questions are answered quickly. If you’ve been investing in Canada on your own for a while, stellar customer service is less important.
Transfer fees
When you move your money from your financial advisor or robo advisor to an online brokerage, the original financial institution will often charge you transfer fees in the range of $ Some online brokerages will pay these fees for you. Canadians are not limited to online brokerage options. Below are Canada's top thirteen online brokerages. Each selection is chosen considering best investment brokerage firms 2022 aforementioned section, primarily focusing on fees, minimums, and customer service.
Alternative investing options
Looking for alternative methods of wealth management? Look no further. Below are several popular alternatives to online brokerages.
- Robo-advisors are suitable for beginners or people with little investing knowledge. Similar to (human) financial advisors, a robo-advisor uses an algorithm to invest and manage money on behalf of the client. Fees tend to be higher than self-directed investing, but are still cheaper than financial advisors.
- Financial advisors are licenced professionals who manage money and investments for a number of clients. They also provide advice to their clients. In return, the financial advisor’s clients pay a fee. Though the client’s investments receive more attention with a financial advisor, they tend to be more expensive.
Guaranteed Investment Certificates (GICs) are low-risk investments that provide interest over the course of the investment's term. They are incredibly safe and secure but do not promise very high returns. They are also inaccessible until the term is complete.
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Best Stock Brokers for March
Over the long run, the stock market is one of the best places to put your money to work, best investment brokerage firms 2022. But you can't just buy a stock through your bank account or call the company and buy shares -- you need to find one of the best stock brokers.
Fortunately for everyday investors, the brokerage industry has changed dramatically over the past couple of decades. To buy a stock, you used to have to call an individual known, who placed the order on your behalf. This process was complex -- and expensive.
The industry has evolved -- now most investors buy and sell stocks through online stock brokers. And competition among the best online stock brokers has never been higher. With many brokerage firms offering zero-commission trading and research tools once available only to professionals, there are some excellent choices for investors.
How to pick the best stock broker
The best online brokerage account for you depends on your needs, best investment brokerage firms 2022. Here are a few things you might want to consider:
- If you plan to simply buy and hold stocks, you probably don't need a full-featured trading platform.
- If you primarily plan to buy mutual funds, you should look for the best mutual fund broker, since these brokerage accounts offer low to $0 commissions to buy and sell mutual funds.
- If you are a brand-new investor and only want to invest a few hundred dollars at first, you'll probably want to look for a broker with no minimum investment requirement.
If you plan on trading bonds or stock options, or plan on making trades over the phone as best investment brokerage firms 2022 to online, be sure to compare what each the best stock brokers charge for these activities.
Features of the best brokerage accounts
The best brokerage accounts on our list offer different free stock trading apps, different educational resources, and more. With that in mind, here are some of the features we looked at when deciding which online stock brokers were the best in the business, and why they matter to you:
- Commissions and fees: Basic, online stock and ETF trades should be free. Period. Investors now pay $0 commissions at most online stock brokers, and some even offer options trading for free, which can be particularly valuable for active traders. Even some of the best online brokerages charge commissions for mutual fund trades and other services you might need, so it's still important to compare fee structures.
- Mutual funds: While most brokers charge a commission for mutual fund trading, it's also important to know that most have a list of hundreds or even thousands of funds that trade with no commissions at all.
- ETF investing: The best ETF stock brokers will not only have $0 online commissions for ETF investing, but they also tend to offer access to a wide array of branded, low-cost ETFs. These branded ETFs are managed by the stock broker's analyst teams themselves and they often include rock-bottom expense rations.
- Options investing: A well-rounded stock brokerage account will not only offer access to investing in stocks, ETFs, and mutual funds, but also options. The top options trading platforms tend to include $0 commissions for online options trades and high-quality trading software across online, best investment brokerage firms 2022, desktop, and mobile devices.
- Account minimums: Many of our favorite online stock brokers don't have account minimums, but a few do. If you're a beginning investor, it's important to verify that you can meet any minimum investment requirements before you select a broker.
- Trading platform: Some stock brokerage accounts have full-featured and complex online stock trading platforms and software available to frequent traders, as well as managed portfolio services from robo-advisors. Other stock brokers take a more simplistic, user-friendly approach. And many have top-notch investing apps that could come in handy if you want to buy and sell stocks from anywhere in the world.
- Research and screeners: One key reason to have an online brokerage account is that you can access a second opinion when you need it. Many brokers offer a full suite of third-party research as well as stock and fund screeners so you can find, for example, the annual fees for investing in a fund, or get help sorting through your choices via parameters like price-to-earnings ratio.
Want to jump straight to the best? Most of our users prefer Interactive Brokers for stock trading.
Given how easy it is to find an online stock broker, best investment brokerage firms 2022, determining which online broker is best for you can take some research. You can choose best stock broker from this and find the best trading platform for you. From penny stocks to an ETF, best investment brokerage firms 2022, you want online trading to be as user-friendly as possible.
Remember, however, that the best brokers should match your needs. The broker your neighbor loves may not work for you, and that is why there are several options available to you. Stock trading is subjective in many ways, and you want a trading tool, investor support and more in an online brokerage account.
Best Online Stock Brokers and Platforms
Once you know what you’re looking for in an online broker, you can make an informed decision on which stock broker to choose. For example, if you plan on making investments in foreign stock markets and already have considerable experience operating in the financial markets, Interactive Brokers might make a good choice.
1. Webull
Webull offers both a mobile-based and desktop app that are highly intuitive and perfect for intermediate and advanced traders. The Webull platforms feature fundamental and technical analysis tools that include advanced charting and technical indicators.
Consumers can trade over 5, stocks, exchange-traded funds (ETFs,) stock trading or options trading on Webull’s platforms free of commissions. You can also open an account without an initial deposit and try out their platforms in a paper trading account that lets you practice without risking your money.
You can even open a margin account where you can short stock — although you’ll be required to deposit a minimum of $2, In addition, Webull’s promotional offers include 3 free share of stock for successfully opening an account determined by random selection using Webull’s lottery system.
Intermediate Traders and Investors
Webull, founded inis a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading, best investment brokerage firms 2022. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers active traders technical indicators, economic calendars, ratings from research agencies, best investment brokerage firms 2022, margin trading and best investment brokerage firms 2022. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.
Webull is widely considered one of the best Robinhood alternatives.
- Active traders
- Intermediate traders
- Advanced traders
- No account maintenance fees or software platform fees
- No charges to open and maintain an account
- Intuitive trading platform with technical and fundamental analysis tools
- Does not support trading in mutual funds, bonds or OTC stocks
2. Axos Self-Directed Trading
Digital, self-directed trading is where some of today’s most savvy market watchers go when they’re ready to take full control of their investing future. With Axos Bank’s newest offering, Axos Invest, best investment brokerage firms 2022, their bustling new online trading platform includes all the options needed to build and best investment brokerage firms 2022 your financial future, along with access to information and insights to help make sure your instincts and decisions are the right ones.
Axos Invest is known for their low fees plus:
- Commission-free stock and ETF trades
- Only $1 per options contract
- $ per mutual fund trade
In addition to individual and joint account options, Axos Invest also offers Roth and traditional IRAs to maximize your tax advantaged investing.
Those ready to step up, and receive a wider array of financial tools can hyper-charge their strategy with Axos Elite. A membership features extended trading hours up to 7 p.m. ET, and access to their powerful research tool – TipRanks™.
It seems like new digital investment management platforms are sprouting up left and right, and for good reason — there’s a great need for easy, straightforward investment management that doesn’t cost an arm and a leg in fees or to get started. If you’re new to investing or an old hat who wants to make the switch to a virtual manager, deciding which features you need can be confusing if not overwhelming.
If you want a no-frills financial management platform, Axos Invest (formerly WiseBanyan) takes a traditional but sophisticated approach to automated online investing.
- Traditional investors trying out an automated investor for the first time
- New investors that want to take a hands-off approach to portfolio management
- Straightforward automated investing
- Relatively low account minimum and automated investing fee
- A solid roster of available investment account types
-