Top 10 Stock Brokerage Firms in the U.S.
Choosing a stock brokerage firm is an important decision for any investor. There are many factors to consider, such as fees, customer service, and the overall investment experience. To help make the decision easier, we’ve compiled a list of the top 10 stock brokerage firms in the US. Whether you’re a beginner or a seasoned investor, one of these firms is sure to meet your needs.
What is a Stock Broker?
A stock broker is a professional who facilitates the buying and selling of securities in exchange for a commission. They provide clients with access to the markets, offer advice on investments, and execute trades on their behalf.
Top 10 Brokerage Firms in the U.S.
Below are the top 10 stock brokers in the U.S;
Charles Schwab
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.65
Charles Schwab is a stock brokerage firm, established in 1973 by Charles Schwab. Starting out as a local stockbroker in San Francisco, Charles Schwab’s popularity quickly grew and he eventually created his stock brokerage firm to provide financial services tailored to individual investors. The company went public in 1987 and now provides access to global financial markets to individuals with investments ranging from stock trading to retirement planning.
What makes Charles Schwab unique among stock brokers is their focus on delivering first-class customer service regardless of the size or nature of your account. This approach has seen the company receive multiple awards for its practices, setting itself apart as one of the top stock brokerages in the industry.
The broker offers a comprehensive package of tools for investors, traders, and beginners. In addition, it is known for its strength in financial planning including calculators to help traders make informed short-term and long-term decisions.
As of 2020, Charles Schwab’s total assets stood at $549 billion, representing an 86 percent increase from $294 billion in 2019.
Fidelity Investments
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.65
Fidelity Investments is a stock brokerage firm, established in 1946 and now operating globally. It is renowned for its 20,000 stock brokers, who value customer relationships and strive to provide the best professional advice. With a vast range of stock solutions, Fidelity commits to helping customers plan for and reach their financial goals as well as understand stock market movements.
The firm also offers innovative technology solutions to make the stock trading process seamless, reliable and secure. They have been declared one of Forbes Magazine’s 2021 Best Employers in America, having distinguished themselves for their commitment to employee benefits such as competitive retirement packages and tuition reimbursement plans.
With impressive stock market insights and personalized customer service, Fidelity Investments has become a trusted provider of stock brokerage services.
Below is a breakdown of Fidelity’s Total discretionary assets as of September 2022;
- Equity assets- $1,992.5 billion
- High-income assets- $75.0 billion
- Hybrid assets – $141.1 billion
- Investment grade bond assets- $564.7 billion
- Money market assets- $839.1 billion
TD Ameritrade
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.65
As a leading stock brokerage firm, TD Ameritrade offers stock brokers everywhere an outstanding range of tools and services to help them trade in the stock market with precision and ease. With convenient account access via web or mobile app, stock brokers can stay connected to their portfolios day and night.
TD Ameritrade provides consistently competitive prices on stocks, bonds, options and more, making the stock trading process affordable for stock brokers everywhere. All accounts are protected by layers of online security measures that make sure stockbrokers’ account information is both secured and confidential. TD Ameritrade’s excellent combination of cutting-edge technology with personalized customer service makes it one of the top choices for stockbrokers today.
As of 2020, TD Ameritrade’s total Asset Under Management (AUM) stood at $1.3 trillion.
E*TRADE
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.65
E*TRADE is a stock brokerage firm with over 35 years of experience that has been helping stock brokers make informed decisions. For the modern stockbroker, E*TRADE offers online trading accounts and real-time market data with custom analytics and other proprietary tools, as well as strategic advice from their financial experts.
The firm also provides stock options for investors who are looking to maximize their returns on investments or to take advantage of a broad range of stock indices and Exchange Traded Funds (ETFs). E*TRADE stands out from other stock market services owing to their easy-to-use platform, which allows traders access to a number of stock trading options with minimal transaction fees and a variety of research tools.
They also offer mobile applications for various devices that give customers round-the-clock access to their portfolios and stock analysis features – everything they need to remain updated on their trades anytime, anywhere.
As of February 2020, E*TRADE had over $360 billion of retail client assets with more than 5.2 million client accounts.
Merrill Edge
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.65
Merrill Edge is one of the leading stock brokers available today, providing individual investors with access to stock markets, both domestic and international. The stock brokerage firm offers its customers the flexibility of trading stocks online or over the phone. In addition, Merrill Edge offers its clients access to professional financial advice from certified financial advisors.
This means investors can not only have access to stock-market movements but also take advantage of in-depth market knowledge and analysis across various investments like equities, options, futures and ETFs. With expertise and resources at their disposal, individual traders can make informed investment decisions with ease.
As of 2021, the broker had total Assets Under Management amounting to US$353 billion.
Interactive Brokers
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.65
Interactive Brokers is a stock brokerage firm, offering stock brokers a diverse suite of access to financial markets and investments. It has revolutionized the stock market with its low commission rates, no account minimums, and access to thousands of stock exchanges worldwide.
In addition, it provides real-time data, various trading tools and platforms, pre-defined strategies and algorithm availability for traders. To find out more about this pioneering stock brokerage firm that is making stock market investing easier for all involved parties, visit their website today.
As of 2021, Interactive Brokers’ total assets stood at US$109.1 billion while total equity was US$10.2 billion.
Webull
- Minimum Deposit – $0.00
- Stock Trades – $0.00
- Options (Per Contract) – $0.60
Webull is a stock brokerage firm that has been developed for the modern-day trader who requires access to real-time market data and fast execution of trades. The Webull platform is known for its advanced features, such as technical analysis tools and interactive charts meant to help traders analyze stocks better and make decisions quickly.
Additionally, it also offers commission-free stock trading with no minimum account balance required. It also provides direct access to some of the world’s leading exchanges, as well as margin trading capabilities at competitive rates.
As of 2021, Webull had total Assets Under Management amounting to US$2.5 billion while total equity was US$51 million.
J.P. Morgan Wealth Management
- Minimum Deposit – $0.00
- Stock Trades – $0.01 per share, with a minimum of $24.95 and a maximum of 1% of the trade value (capped at $200)
- Options (Per Contract) – $0.65
J.P Morgan Wealth Management is one of the leading global wealth management firms that provides individuals and institutional clients access to stock market investments and other financial services such as portfolio management, risk management, estate planning, and retirement planning solutions.
The firm has been servicing its clients since the 1800s, offering them personalized strategies meant to achieve their long-term financial objectives while minimizing risks associated with investing in stocks. It also provides online tools and educational resources to help its clients make informed decisions.
As of 2021, J.P Morgan Wealth Management had total Assets Under Management amounting to US$2.5 trillion while total equity was US$354 billion.
Ally Invest
- Minimum Deposit – $0.00
- Stock Trades – $4.95
- Options (Per Contract) – $0.65
Ally Invest is a stock brokerage firm that caters to both beginner and advanced investors looking to capitalize on the stock market’s potential for growth. It offers tools and resources meant to provide traders with insights into their investments, including up-to-date market news and analysis of stocks, ETFs, mutual funds, futures, and more.
The platform also provides access to low cost trading options such as flat rate commission pricing, allowing investors to buy or sell stocks at minimal expense. Other features include easy account management capabilities, access to margin accounts, mobile trading apps for both iOS and Android, and more.
As of 2021, Ally Invest had total Assets Under Management amounting to US$7.9 billion while total equity was US$1.8 billion.
Robinhood
- Minimum Deposit – $0.00
- Stock Trades – Free
- Options (Per Contract) – $0.65
Robinhood is a stock brokerage firm that simplifies investing and makes it accessible to anyone with an internet connection. It offers commission-free stock trading, meaning investors can buy or sell stocks without incurring additional fees. The platform also provides access to real-time market data, as well as basic news stories, analysis articles, and trading tools meant to help traders make informed decisions about their investments.
In addition, Robinhood provides margin account capabilities at competitive rates, along with the option of setting up automated investments on a recurring basis.
As of 2021, Robinhood had total Assets Under Management amounting to US$3.7 billion while total equity was US$629 million.
Conclusion
When it comes to choosing a brokerage, there are many factors to consider. But at the end of the day, it really comes down to finding one that best meets your needs as an investor. The top 10 stock brokerage firms listed above are all reputable brokerages with different strengths and weaknesses. So take some time to do your research and figure out which one is right for you.
