The following is a list of top discount brokers with the emphasis on low cost online stock trading. These brokers are particularly well-suited for active traders. The list is sorted from the lowest commission fee to the highest for stock and ETF trades. If the fees are the same, we take into consideration other factors and rank the better broker above. In addition to the fees, we also list other special offers and features when appropriate.
Since brokers can change their offers at any given time, it’s highly recommend that you visit the site and review the most recent information carefully. Also, be sure to check out our list of best banks and savings options.
List updated May 4, 2013.
| Broker | Notes |
|---|---|
OptionsHouse |
Open an account today and receive 100 commission-free trades. Multiple promotions available. Barron’s rated best for options traders for 2009 and 2010.
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TradeKing |
TradeKing earned 4-Star Rating in Barron’s 2012 Online Broker Survey for the sixth year in a row.
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| Firstrade |
Firstrade is currently offering 100 free trades for new accounts.
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| ShareBuilder |
Buy stocks for $4 with Automatic Investing. Open an account today and receive $100 new account bonus.
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| Scottrade |
Scottrade has over 500 local branch offices nationwide.
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| TradeMONSTER |
Open a new tradeMONSTER account to trade commission free for 30 days.
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| Fidelity |
Fidelity boasts a robust mix of investments, tools and banking services.
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| Charles Schwab |
Schwab has a well-rounded services and products portfolio, and offers more advice and research than many competitors.
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| OptionsXpress |
OptionsXpress is a Charles Schwab company. It is rated Barron’s 4+ stars for 2002-2012. Open an account today and receive $100.
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| TD Ameritrade |
Open an account today and trade free for 60 days, and get up to $600 based on your deposit amount.
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| E*Trade |
E-trade is strong in research and trading tools. Get up to $500 plus 60 days of free trades for deposits of $10K or more.
Fees are lower for high volume traders. |
In addition to the brokers listed above here are additional websites that might be of interest to you.
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Personal Capital is a free online accounts aggregator, net worth and expense tracker, portfolio planner and analyzer all in one. It offers a comprehensive overview of your investment portfolio allowing you to make adjustments to lower your expenses and improve your asset allocation. | |
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Betterment is a simpler way to invest. Instead of doing your own investing, all you have to do is just answer a few questions about who you are and Betterment will automatically invest the money for you. Sign up today and get a $25 new account bonus. | |
OPTIONHOUSE.com so far is the best. $3.95 Flat rate for stocks. no inactivity fees. Great platform. I love it. Options are also cheap. They had a flat rate but now no more.
Look guys, it’s best to go with the cheapest brokerage house on the net. At $2.50/trans, Just2Trade pretty much takes the cake. Any investor who needs a full-service house to supply research isn’t an investor at all.
I used Scottrade for some time until I started to get too many stop-losses that were not prosessed at the correct time. Each one lost me money that I should not have lost. Then Scottrade did not process one of my stop-losses I had set up days before and lost me $2600.00. My inquiry to the Scottrade Manager of the office I did business with was that the guy that handled was having trouble getting buyers at that time. The stock was Ford stock with millions in volume. What a terrible lame excuse. They refused any settlement, leaving no choice but to look for a new broker.
I would never recommend Scottrade to anyone, period. They show no consideration for anyone, particularly, when its your money and their mistake.
I have been using Scottrade for a minimum of 4 years now without any problem. My local Scottrade office have been very helpful in just about all the questions I may have for them. So far so good in fact I have transferred my IRA accounts from my bank to them just recently
I like using Charles Schwab because I don’t want to manage my entire portfolio myself and they provide good money management options. I can also buy and sell on my own through their system, which I like to do as well. Overall, they have a good spectrum of options.
Great list! I’m with eTrade, and they are great. I’ve also heard TradeKing has very low rates. Might be worth a mention too.
I was in ShareBuilder for one year and I’m happy with the results.
Sharebuilder wasn’t what I was actually hoping it would be. I know it works well for some – it just wasn’t for me.
Cutting back on those fees is an important investing strategy. Fees have a large impast on retirement savings. Thanks for sharing brokers with low fees.
I use my RBC online account to trade. I do not do a lot of trades but they a for a fairly large amount of money. I pay a small fee because I am a “Good Customer”.
avoid anyone who…
charges a monthly fee.
charges an inactivity fee.
They will sting you when you least expect it with other ‘small print’ charges.
Dont let the crooks get away with it. Pay for what you do/want/need, and thats all.
Brokerage fees can be negotiable depending on account size and volume. Of course the broker is not going to disclose that he can cut his fees but you can shop around, especially if you are an active trader you can skim quite a bit off the fee. They can also exempt your account from fees if you stress that you are not going to stay with the fee structured account.
I can easily agree with you about withdrawing funds from that broker. That action indicates that they are hard pressed for income and may be in trouble financially. Based on recent history brokers and hedge funds seem to gravitate easily to bankruptcy and an investor would not like to have his account frozen. Do not delay in moving your account.