17 Best Online Brokers to Trade Stocks in 2022
17 Best Online Brokers to Trade Stocks in 2022 Skip to content
You own shares of Apple, Amazon, Tesla. Why not Banksy or Andy Warhol? Their works’ value doesn’t rise and fall with the stock market. And they’re a lot cooler than Jeff Bezos.
Get Priority Access This list features the top online brokers on the market today. Many offer both self-directed and managed investing options, while others focus on one or the other. Most cost significantly less than full-service wealth managers. Many charge no commissions on self-directed trades. All are worthy of your trust whether you’re a novice investor or a seasoned pro looking to give your money more room to grow.
1 For Securities priced over $1,000, the purchase of fractional shares starts at $0.05.
2 Before investing in any exchange-traded fund, consider your investment objectives, risks, charges, and expenses.
3 Bank Account Services provided by and Stash Visa Debit Card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Investment products and services provided by Stash Investments LLC, not Green Dot Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. In order for a user to be eligible for a Stash banking account, they must also have opened a taxable brokerage account on Stash. Account opening of the debit account is subject to Green Dot Bank approval.
4 Early access to your direct deposit depends on deposit verification and when Green Dot Bank gets notice from your employer and may vary from pay period to pay period.
5 Stash does not monitor whether a customer is eligible for a particular type of IRA, or a tax deduction, or if a reduced contribution limit applies to a customer. These are based on a customer’s individual circumstances. You should consult with a tax advisor.
6 The adult (or Custodian) who opens the account can manage the money and investments until the minor reaches the “age of majority.” That age is usually 18 or 21, depending on the Custodian’s state. The money in a custodial account is the property of the minor. Money in a custodial account can be used by the parent or legal guardian, but only to do things that benefit the child.
7 You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash and the custodian.
8 Stash Stock-Back is not sponsored or endorsed by Green Dot Bank, Green Dot Corporation, Visa U.S.A., or any of their respective affiliates, and none of the foregoing has any responsibility to fulfill any stock rewards earned through this program.
The Money Crashers is a paid Affiliate/partner of Stash.
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By Brian Martucci Date October 03, 2022FEATURED PROMOTION
Once upon a time, a stock broker was the fashionably dressed, skyscraper-dwelling man (it was almost always a male) you called whenever you wanted to change the composition of your equity portfolio. He’d place your trades in accordance with your instructions, confirm once the transactions completed, and collect a hefty commission as his reward. Well-compensated human stock brokers do continue to play a role in the American financial industry today, although they rarely take instructions for specific trades over the phone, and they work far more efficiently with the help of inordinately powerful financial software. But the hardest-working stock brokers today aren’t human at all. They’re the digital platforms — online stock brokers — that have dramatically simplified, sped up, and reduced the cost of retail investing since the early days of the Internet. Due to their low cost and simplicity, online stock brokers are the preferred portfolio management vehicles for individual investors without vast amounts of capital at their disposal. As with the human brokers they’ve supplanted, they’re not all alike, which makes choosing the right online broker for your investing strategy and goals all the more important.You own shares of Apple, Amazon, Tesla. Why not Banksy or Andy Warhol? Their works’ value doesn’t rise and fall with the stock market. And they’re a lot cooler than Jeff Bezos.
Get Priority Access This list features the top online brokers on the market today. Many offer both self-directed and managed investing options, while others focus on one or the other. Most cost significantly less than full-service wealth managers. Many charge no commissions on self-directed trades. All are worthy of your trust whether you’re a novice investor or a seasoned pro looking to give your money more room to grow.
Best Online Stock Brokers
These are among the best online stock brokers for U.S.-based retail investors. They include traditional online brokerages such as TradeStation, TD Ameritrade and Fidelity, hybrid money management apps like M1 Finance and Acorns, and newer entrants from popular online banks and lenders, such as Ally Invest and SoFi Invest.1 TradeStation
TradeStation is a powerful trading platform for serious, active market participants. It offers three trading platforms to suit your preference: mobile, Web, and desktop-based. Stock and ETF trades are always free on the mobile and Web platforms; desktop trades may incur commissions. Though TradeStation is built for serious traders, it’s not an experts-only zone. One of its biggest selling points is YouCanTrade, a sister company that offers education and training resources designed to introduce and test new trading strategies and ideas in a judgment-free environment. Plans and Pricing: Choose from one of two plans: TS Select or TS GO. Desktop trades are always free on TS Select, so it’s a better fit for traders who prefer the desktop experience, though it does require a $2,000 minimum deposit to get started. TS GO has better pricing for options and futures trades and doesn’t require a minimum deposit.Account Opening Bonus: TradeStation has one of the best new brokerage account promotions around — make a qualifying account opening deposit to earn up to $5,000 in bonus cash. See terms for more information.Minimum Required to Invest: There’s no minimum investment requirement for TS GO plans. TS Select requires a $2,000 minimum deposit. Learn More2 J P Morgan Self-Directed Investing
J.P. Morgan Self-Directed Investing is a low-cost online stock broker from massive global bank J.P. Morgan Chase Bank. Its self-directed and managed portfolio options make it a worthy choice for passive and active investors alike. Like most major online stock brokers for DIYers, J.P. Morgan Self-Directed Investing promises commission-free stock and ETF trades with thousands of choices available. There’s a decent selection of no-transaction-fee mutual funds here as well. J.P Morgan’s passive investing offering, J.P. Morgan Automated Investing, resembles Wealthfront and Betterment, although its management fee is a bit higher at 0.35% AUM on all balances. Like its two major competitors, builds semi-customized, tax-optimized portfolios to cater to a range of risk tolerances and common long-term objectives. Plans and Pricing: J.P. Morgan Self-Directed Investing does not charge commissions on stock or ETF trades and offers many no-transaction-fee mutual funds. However, funds themselves generally charge management fees that J.P. Morgan can’t control. The J.P. Morgan Automated Investing advisory fee is 0.35% AUM on all balances.Account Opening Bonus: Get up to $625 in bonus cash when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money by Jan. 19, 2023. Account Opening Bonus Details: You have 45 days to fund your account with qualifying new money; your bonus will be determined on day 45. Then, maintain your new funds for 90 days and you should receive your bonus directly in your account within 15 days.Minimum Required to Invest: Deposit at least $1 to open a self-directed account or $500 to open an automated investing account. For more information, check out our J.P. Morgan Self-Directed Investing review. Learn More INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE3 Vanguard
Vanguard is a storied online stock broker with two distinct options: a brokerage that facilitates self-directed or advisor-assisted portfolio construction and an in-house advisory service (Vanguard Personal Advisor Services) that offers comprehensive financial planning and fully customized portfolios. Vanguard Personal Advisor Services is extremely affordable for a full-service financial advisory shop, with advisory fees topping out at just 0.30% AUM — less than a third of the national average. In both cases, investors enjoy access to the full universe of Vanguard’s low-cost exchange-traded funds (ETFs) and mutual funds. Self-directed investors can also take advantage of the vast library of individual stocks held in Vanguard ETFs and mutual funds, along with CDs, bonds, options, and other securities. Low or nonexistent commissions and extremely low fund management fees make Vanguard one of the most affordable online stock brokers around. Plans and Pricing: Vanguard’s brokerage charges no commissions or transaction fees on ETF, stock, or mutual fund trades. Vanguard Personal Advisor charges a flat advisory fee ranging from 0.30% AUM for balances up to $5 million to 0.05% AUM for balances above $25 million. Funds held in either account typically carry management fees, although Vanguard’s are much lower on average than those of most other funds.Account Opening Bonus: None.Minimum Required to Invest: Vanguard Personal Advisor Services has a $50,000 account minimum. Learn More4 Ally Invest
Ally Invest is a low-cost investing platform from Ally Bank, a digital banking pioneer. It blends an affordable self-directed option with a low-cost robo-advisory solution that’s free for clients willing to keep a portion of their portfolio in cash. On the robo-advisory front, Ally Invest’s managed portfolio offering features a “cash enhanced” option that sets aside 30% of the account balance in a high-yield savings account. The objective is to reduce exposure to market volatility and increase the account’s appeal for risk-averse investors. More aggressive investors can opt into a traditional managed account that sets aside just 2% of the account balance in cash, on average. Both options include a range of portfolio options catering to various levels of risk tolerance and investment time horizons. On the self-directed side, Ally Invest has a surprisingly robust trove of real-time market analysis and research tools for a basically commission-free brokerage. If you’re looking to dip your toes into the risky but potentially lucrative world of day trading, this isn’t a bad place to start. Plans and Pricing: Ally Invest’s self-directed platform waives commissions on stock, ETF, and options transactions, although options trades carry unavoidable contract fees. It also has lots of no-transaction-fee mutual funds. Ally Invest’s managed portfolios platform waives advisory fees on “cash enhanced” accounts, which invest only 70% of their balances, on average, into equities. Without the “cash enhanced” option, the managed portfolio advisory fee is 0.30% AUM on all balances.Account Opening Bonus: Open a new self-directed account with Ally Invest by December 31, 2020, and make a qualifying deposit of new money or assets to earn up to $3,500 bonus cash. Bonus tiers range from $50 on deposits of $10,000 to $24,999 to $3,500 on deposits of $2 million or more.Minimum Required to Invest: Self-directed portfolios have no minimum opening deposit or balance requirements. The minimum for managed portfolios is $100. Learn More5 Ellevest
Ellevest is the leading digital investment advisor online stock broker built by women, for women — a beacon of relatability for women investors in a stubbornly, overwhelmingly male-dominated space. The Ellevest offering is also more holistic than some other advisors, and their money membership not only includes investing but also includes banking*, coaching, and learning. Ellevest’s approach to investing and financial planning accounts for unique cultural and structural challenges faced by women investors across the income spectrum, including the gender pay gap, career breaks due to childrearing, and longer life expectancy. And Ellevest makes socially responsible investing options available to all members, even low-asset Ellevest Digital subscribers who aren’t bound by account minimums, although you can also choose to just invest in their core portfolio. Ellevest has some additional advantages worth noting, including fully personalized portfolios based on your goals and investing objectives, and automatic rebalancing and tax optimization. Their basic membership plan, Ellevest Essential, is just $1 per month and allows you to get started with their build wealth investment goal. Higher-priced plans offer the ability to open a retirement account or roll over a 401(k) and multi-goal investment management. Plans and Pricing: Ellevest charges monthly fees, not fees calculated as a percentage of assets under management, so it’s a great deal for higher-asset investors. Ellevest Essential costs $1 per month and comes with basic investing and banking capabilities, plus 20% off one-on-one financial coaching sessions. Ellevest Plus costs $5 per month, adds the retirement investing goal and support for 401(k) rollovers, and ups the coaching discount to 30%. Ellevest Executive adds multi-goal investment management and ups the coaching discount to 50%.Account Opening Bonus: None.Minimum Required to Invest: There’s no minimum balance required to open an Ellevest account. Learn More *Banking products and services are provided by Coastal Community Bank, Member FDIC, pursuant to license by Mastercard International.6 Stash Invest
Stash is another micro-investing platform that works a lot like Acorns and M1 Invest. The biggest difference is a self-directed approach and may offer appeal for beginner or moderate investors. Stash differs from a traditional online stock broker in that the platform offers limited trading windows. In addition, Stash allows users to purchase shares with a focus on long-term investing and offers investment advice. Thanks to fractional shares starting at just $0.011, you can invest in any available stocks or ETFs2 and achieve a customized, exquisitely diversified asset allocation. Stash has three paid plans. The lowest-priced includes a taxable investing account and a bank account3 with an early payday4 option (up to two days in advance) for qualifying recipients. Higher-priced plans add a tax-advantaged retirement account5 and custodial investment accounts (UGMA/UTMA)5 for up to two kids. Stash’s Auto-Stash feature is available for all three plans6. Its three distinct features facilitate regular small-dollar investing: recurring investments scheduled by the account holder, a round-up-the-change feature that diverts excess cents from checking transactions, and an AI-enabled “smart investing” feature that sets aside checking funds you’re not expected to need. Plans and Pricing: The Beginner plan ($1 per month)7 has a taxable investing account for the account owner, a checking account for the account owner that features an early payday option, and Stock-Back8 (fractional stock rewards) on transactions, and financial education tools. The Growth plan ($3 per month)7 adds a tax-advantaged retirement account. The Stash+ plan ($9 per month)7 adds custodial investment accounts for two kids, a metal debit card with twice the Stock-Back8 potential, and a monthly market insights report.Account Opening Bonus: $5.Minimum Required to Invest: No minimum1. Learn More Investment advisory services offered by Stash Investments LLC, an SEC-registered investment adviser. This material has been distributed for informational and educational purposes only and is not intended as investment, legal, accounting, or tax advice. Investing involves risk.1 For Securities priced over $1,000, the purchase of fractional shares starts at $0.05.
2 Before investing in any exchange-traded fund, consider your investment objectives, risks, charges, and expenses.
3 Bank Account Services provided by and Stash Visa Debit Card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Investment products and services provided by Stash Investments LLC, not Green Dot Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. In order for a user to be eligible for a Stash banking account, they must also have opened a taxable brokerage account on Stash. Account opening of the debit account is subject to Green Dot Bank approval.
4 Early access to your direct deposit depends on deposit verification and when Green Dot Bank gets notice from your employer and may vary from pay period to pay period.
5 Stash does not monitor whether a customer is eligible for a particular type of IRA, or a tax deduction, or if a reduced contribution limit applies to a customer. These are based on a customer’s individual circumstances. You should consult with a tax advisor.
6 The adult (or Custodian) who opens the account can manage the money and investments until the minor reaches the “age of majority.” That age is usually 18 or 21, depending on the Custodian’s state. The money in a custodial account is the property of the minor. Money in a custodial account can be used by the parent or legal guardian, but only to do things that benefit the child.
7 You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash and the custodian.
8 Stash Stock-Back is not sponsored or endorsed by Green Dot Bank, Green Dot Corporation, Visa U.S.A., or any of their respective affiliates, and none of the foregoing has any responsibility to fulfill any stock rewards earned through this program.
The Money Crashers is a paid Affiliate/partner of Stash.