Top Online Brokerage Platforms for Investors

An online brokerage acts as an intermediary facilitating the buying and selling of stocks and shares. Today’s investors have a wide array of brokerage options—from small startups to well-established firms—tailored to meet various trading needs and help maximize returns. Below is a curated list of some of the top online brokerages available in the market.

Ally Invest

Ally Invest focuses on providing easy and cost-effective access to active trading with straightforward pricing. Known for quality services and competitive offerings, it also offers online banking and related financial products.

Pricing remains consistent, with trades costing about $4.95 for stocks and $0.65 per options contract. High-volume traders or those with a $100,000 quarterly balance pay as low as $3.95 per trade for stocks, and $3.95 plus $0.50 per contract for options. Ally Invest also offers load and no-load mutual funds, with no charges for automated phone trades or Dividend Reinvestment Plans (DRIPs). Notably, there’s no minimum deposit requirement for new accounts.

Fidelity

Established in 1997, Fidelity is a prominent brokerage with assets surpassing $166 billion. Its platform offers an intuitive online experience and mobile app, providing access to a broad spectrum of investment options.

Clients can choose from over 10,000 mutual funds and benefit from competitive fees—around $26.95 per transaction—with no minimum deposit requirement. The firm’s responsive customer service enhances the overall experience.

Charles Schwab

Charles Schwab is a major industry player with a net worth over $2.55 trillion, supporting 9.6 million active accounts across 45 states via online services and physical branches.

Stock and ETF trades are approximately $6.95 each, with options costing around $6.95 plus $0.70 per contract. Mutual funds are free from transaction fees, except for certain high-yield funds. Opening an account generally requires a $1,000 minimum unless automated deposits are set up. Schwab avoids inactivity and maintenance charges, making it a reliable choice for investors.

USAA Investments

USAA has served investors for over four decades, offering accessible brokerage accounts to both active duty military and the public.

Trades cost roughly $8.95, with options at $8.95 plus $0.75 per contract. Mutual funds carry a moderate fee of $45, and Treasury securities are auctioned at around $45. Account opening has no minimum deposit, suitable for new investors and veterans alike.

Choosing the right brokerage company depends on thorough research, as each platform offers unique advantages and limitations. Ensure to evaluate your specific trading needs before opening an account.