Advertisement
Best discount brokers in 2020

Choose the best discount broker in 2020, we did the research for you. Fees, fees, and fees. We do not like them and surely you do not either. Checking carefully, we uncovered all the hidden fees. After testing 74 brokers, 5 made it to the top. And now, without further ado...

The top 5 picks for the best discount brokers in 2020:

  1. DEGIRO is the best discount broker in 2020. Low trading and non-trading fees, one free ETF trading per month.
  2. TradeStation Global is the second. Low trading and non-trading fees, high fund fees.
  3. Revolut rounded out the top three. Low trading and non-trading fees, free stock and ETF trading. Third place.
  4. Fidelity in the fourth place. Low trading and non-trading fees, high fund fees.
  5. TD Ameritrade. Low trading and non-trading fees, high fund fees. Just made it to the list with being number five.
Best discount brokers in 2020
Broker Accepts clients from Fees score
#1 DEGIRO Europe 5.0 stars
#2 TradeStation Global Globally 4.0 stars
#3 Revolut Europe, Australia, Canada, Singapore, Switzerland, US 5.0 stars
#4 Fidelity US 4.1 stars
#5 TD Ameritrade US, China, Hong Kong, Malaysia, Singapore, Thailand, Taiwan, Canada (through TD Direct Investing) 4.3 stars

What makes a good discount broker? Certainly, damn low fees. This holds for commissions, financing rates, and a lot of people forget, non-trading fees like inactivity or withdrawal fees. Besides low fees, it also should offer access to a lot of markets and products.

Easy to list, but hard to figure it out. We are testing brokers along more than 100 criteria with real accounts and real money. We know what's up.

Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best discount brokers in 2020 one by one, starting with the winner, DEGIRO.

DEGIRO Logo

#1 Best discount broker
DEGIRO

4.7

DEGIRO is a Dutch online discount broker. It is privately owned and was established in 2008 by former employees of another brokerage company.

DEGIRO is regulated by top-tier financial authorities such as the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). It is registered with the Chamber of Commerce and Industry in Amsterdam.

Disclaimer: Investing involves risk of loss.

Recommended for price-sensitive buy-and-hold investors and traders looking only to carry out transactions

Pros Cons
One of the lowest fees on the market Forex not available
Regulated by multiple top-tier regulators Limited research and education
Easy-to-use web and mobile platform No credit/debit card deposit

Open account

#1 DEGIRO
Fees
5.0

DEGIRO has low trading for all asset classes, from stocks to options. The non-trading fees are also low, there is no inactivity or withdrawal fees.
Pros Cons
Low trading fees Higher trading fees for Asian and smaller European stock exchanges
Low non-trading fees
Low stock and ETF fees
DEGIRO trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
US stock $0.6 $1.5 $0.0 $0.0 $0.0
UK stock $2.4 $2.4 - $10.8 -
EURUSD benchmark fee - $17.9 - - $13.4
Mutual fund $10.3 $25.0 - $37.5 $50.0
US Treasury bond - $7.5 - $0.0 $0.0
US stock index options $5.0 $15.0 - $6.5 $6.5
DEGIRO non-trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#1 DEGIRO
Account opening
5.0

DEGIRO no longer keeps a waiting list for new users, and no minimum deposit is required. The account creation process is once again fast and fully digital.
Pros Cons
Fast None
Fully digital
No minimum deposit
DEGIRO minimum deposit and time to open an account
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Minimum deposit $0 $1,000 $0 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

Open account More

#1 DEGIRO
Deposit and withdrawal
3.3

DEGIRO deposits and withdrawals are free of charge via bank transfer. On the other hand, you cannot deposit funds using a credit or debit card.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies
DEGIRO withdrawal fee and options
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#1 DEGIRO
Markets and products
3.5

At DEGIRO, you can access many markets and trade a lot of different products. CFD and forex are not available, though.
DEGIRO markets and products
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Stock Yes Yes Yes Yes Yes
ETF Yes Yes No Yes Yes
Forex No Yes No No Yes
Fund Yes Yes No Yes Yes
Bond Yes Yes No Yes Yes
Options Yes Yes No Yes Yes
Futures Yes Yes No No Yes
CFD No Yes No No No
Crypto Yes Yes Yes No No

Open account More

#1 DEGIRO
Web trading platform
3.9

DEGIRO's web platform is simple and easy to use, even for beginners. On the negative side, you cannot set price alerts.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report No price alerts
Two-step (safer) login
Best discount brokers - DEGIRO trading platform
DEGIRO trading platforms
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Web platform score 3.9 stars 4.3 stars - 4.5 stars 4.3 stars
Mobile platform score 4.4 stars 3.5 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 3.0 stars - 3.8 stars 4.5 stars

Open account More

#1 DEGIRO
Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend too much on fees.

Transaction costs are generally very low. DEGIRO also has one of the best trading platforms for Europeans. In addition, the account opening process is now fast again, as a recent temporary waiting list has been scrapped.

On the other hand, education and research tools are limited. We should also mention that there is no forex trading, and most clients can only deposit and withdraw by bank transfer.

All in all, DEGIRO is a great online broker. There is no minimum deposit and no inactivity fee, so feel free to go ahead and give it a try.

DEGIRO
Summary DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA. As of March 25, 2020, DEGIRO introduced a waiting list for new customers. Longer than usual account opening times are expected.
Fees score 5.0 stars
Recommended for Price-sensitive buy-and-hold investors and traders looking only to carry out transactions

Open account More

TradeStation Global Logo

#2 Best discount broker
TradeStation Global

4.6

TradeStation Global is the brand of TradeStation International Ltd, which is based in the UK and is regulated by the top-tier Financial Conduct Authority (FCA).

TradeStation Global is a combined product offered by Interactive Brokers (IB) and TradeStation. Here are its most important elements:

  • The account opening, deposit/withdrawal options, and available products are the same as at Interactive Brokers.
  • You can use both Interactive Brokers's and TradeStation's own desktop platform.
  • TradeStation Global charges its own fees, and offers its own customer support and educational tools.

Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on the NASDAQ, TradeStation itself is not: only TradeStation's parent company Monex is listed, on the Tokyo Stock Exchange.

Recommended for traders and investors looking for low fees and a wide selection of products

Pros Cons
Low trading fees Only bank transfer allowed for deposit and withdrawal
Wide range of products Complicated account opening
Fast customer service Limited education materials

Open account

#2 TradeStation Global
Fees
4.0

TradeStation Global has low trading fees, especially for stocks and ETFs. It's also great that there is no inactivity fee and the first withdrawal each month is free of charge. On the other hand, mutual fund fees are high.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Low stock and ETF fees
TradeStation Global trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
US stock $0.6 $1.5 $0.0 $0.0 $0.0
UK stock $2.4 $2.4 - $10.8 -
EURUSD benchmark fee - $17.9 - - $13.4
Mutual fund $10.3 $25.0 - $37.5 $50.0
US Treasury bond - $7.5 - $0.0 $0.0
US stock index options $5.0 $15.0 - $6.5 $6.5
TradeStation Global non-trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#2 TradeStation Global
Account opening
2.8

TradeStation Global's account opening is fully digital and fast. On the negative side, the process is complicated and there is a high, $1,000 minimum deposit required in order to use TSG's own desktop platform.
Pros Cons
Fast $1,000 minimum deposit required for desktop platform
Fully digital Not user-friendly
TradeStation Global minimum deposit and time to open an account
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Minimum deposit $0 $1,000 $0 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

Open account More

#2 TradeStation Global
Deposit and withdrawal
2.5

TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies Not user-friendly
No charge for the first withdrawal each month.
TradeStation Global withdrawal fee and options
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#2 TradeStation Global
Markets and products
5.0

With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.
TradeStation Global markets and products
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Stock Yes Yes Yes Yes Yes
ETF Yes Yes No Yes Yes
Forex No Yes No No Yes
Fund Yes Yes No Yes Yes
Bond Yes Yes No Yes Yes
Options Yes Yes No Yes Yes
Futures Yes Yes No No Yes
CFD No Yes No No No
Crypto Yes Yes Yes No No

Open account More

#2 TradeStation Global
Web trading platform
4.3

You can use your TradeStation Global account to log in to the Interactive Brokers web trading platform. The TSG Client Portal is simple and easy to use even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best discount brokers - TradeStation Global trading platform
TradeStation Global trading platforms
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Web platform score 3.9 stars 4.3 stars - 4.5 stars 4.3 stars
Mobile platform score 4.4 stars 3.5 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 3.0 stars - 3.8 stars 4.5 stars

Open account More

#2 TradeStation Global
Verdict

TradeStation Global has low trading fees, provides access to a lot of products and markets and has great customer support. The TradeStation Global desktop platform has great charting tools, plenty of indicators, highly customizable watchlists (Radar Screen) and a great programming tool (EasyLanguage).

On the other hand, the deposit and withdrawal process is not user-friendly and you can use only bank transfer. The account opening is complicated and for full account verification to use the TSG desktop trading platform, a minimum deposit of $1,000 is required. Margin rates are higher than at Interactive Brokers (IB). Lastly, the education section could be expanded with more materials, as it is quite limited.

If you want access to IB's product range and an account without inactivity fees, feel free to try TradeStation Global.

TradeStation Global
Summary TradeStation Global is an introducing broker of Interactive Brokers. It practically means that assets and cash are held with Interactive Brokers, but services, like the fees or customer support are provided by TradeStation Global. TradeStation Global is regulated by the top-tier UK FCA.
Fees score 4.0 stars
Recommended for Traders and investors looking for low fees and a wide selection of products

Open account More

Revolut Logo

#3 Best discount broker
Revolut

4.3

Revolut is a fast-growing fintech startup founded in 2015 and mainly known for its banking and payment services. In 2019, the company also launched its commission-free stock trading, which is provided by Revolut Trading Ltd. 

Revolut is regulated by multiple top-tier regulators, including the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients' assets are protected up to $500,000 ($250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance. Revolut is also regulated by the UK Financial Conduct Authority (FCA). 

Recommended for beginners looking for free trading and a great mobile-only trading platform

Pros Cons
Free stock trading Limited product portfolio
Fast and easy account opening Basic research and missing educational tools
Great mobile trading platform Poor customer service

Open account

#3 Revolut
Fees
5.0

Besides trading stocks for free with Revolut, you also don't have to pay any inactivity or withdrawal fees. It only charges a 0.01% annual custody fee.
Pros Cons
Low trading fees None
Low non-trading fees
Free stock trading
Revolut trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
US stock $0.6 $1.5 $0.0 $0.0 $0.0
UK stock $2.4 $2.4 - $10.8 -
EURUSD benchmark fee - $17.9 - - $13.4
Mutual fund $10.3 $25.0 - $37.5 $50.0
US Treasury bond - $7.5 - $0.0 $0.0
US stock index options $5.0 $15.0 - $6.5 $6.5
Revolut non-trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#3 Revolut
Account opening
5.0

Revolut has an easy, fast, and fully digital account opening, requiring no minimum account balance.
Pros Cons
Fast None
Fully digital
No minimum deposit
Revolut minimum deposit and time to open an account
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Minimum deposit $0 $1,000 $0 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

Open account More

#3 Revolut
Deposit and withdrawal
3.5

Revolut offers several deposit options, and both deposits and withdrawals are free even when using wire transfers. On the negative side, you can only use a USD-based account for trading.
Pros Cons
Credit/Debit card available Only one account base currency
Free withdrawal
No deposit fee
Revolut withdrawal fee and options
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#3 Revolut
Markets and products
2.0

Revolut has a limited product portfolio, as you can only trade certain US stocks, cryptos, gold and silver. It lacks other popular asset classes like mutual funds, bonds or options.
Revolut markets and products
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Stock Yes Yes Yes Yes Yes
ETF Yes Yes No Yes Yes
Forex No Yes No No Yes
Fund Yes Yes No Yes Yes
Bond Yes Yes No Yes Yes
Options Yes Yes No Yes Yes
Futures Yes Yes No No Yes
CFD No Yes No No No
Crypto Yes Yes Yes No No

Open account More

#3 Revolut
Web trading platform

Revolut does not offer a web trading platform, as it's available only on mobile. This is a drawback, as web-based applications are convenient to use and accessible from all devices.
Revolut trading platforms
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Web platform score 3.9 stars 4.3 stars - 4.5 stars 4.3 stars
Mobile platform score 4.4 stars 3.5 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 3.0 stars - 3.8 stars 4.5 stars

Open account More

#3 Revolut
Verdict

Revolut's fees are great. With all three types of accounts, you can trade US stocks for free (though monthly limits may apply). Account opening is easy, fully digital, and fast. You can use an awesome and user-friendly mobile trading platform.

Revolut has some drawbacks though. The product portfolio covers only US stocks and some crypto currencies. There are only a few research tools, while it offers no educational material at all. Customer service could also be improved. 

If you want to trade US stocks for free and are looking for an easy-to-use mobile platform, Revolut is a great choice.

Revolut
Summary Revolut is a UK-based fintech startup that offers commission-free stock trading. Revolut Trading Ltd is regulated by the FCA.
Fees score 5.0 stars
Recommended for Beginners looking for free trading and a great mobile-only trading platform

Open account More

Fidelity Logo

#4 Best discount broker
Fidelity

4.8

Fidelity is a US stockbroker founded in 1946. It is regulated by top-tier authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Fidelity is considered safe because it has a long track record and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for solid research and great trading platforms

Pros Cons
Solid research tools Not fully digital account opening
Great web trading platform High mutual fund fees
US and international stocks High financing rates

Open account

#4 Fidelity
Fees
4.1

Fidelity has low trading and non-trading fees, including commission-free stock trading. On the negative side, financing rates and fees for some mutual funds can be high.
Pros Cons
Low non-trading fees High fund fees
Free stock and ETF trading Higher fees for non-free mutual funds
Some mutual funds are free
Fidelity trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
US stock $0.6 $1.5 $0.0 $0.0 $0.0
UK stock $2.4 $2.4 - $10.8 -
EURUSD benchmark fee - $17.9 - - $13.4
Mutual fund $10.3 $25.0 - $37.5 $50.0
US Treasury bond - $7.5 - $0.0 $0.0
US stock index options $5.0 $15.0 - $6.5 $6.5
Fidelity non-trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#4 Fidelity
Account opening
2.9

Opening an account at Fidelity is easy but not fully digital, as you have to mail in a photocopy of your ID to complete your application.
Pros Cons
No minimum deposit Not fully digital
User-friendly
Fidelity minimum deposit and time to open an account
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Minimum deposit $0 $1,000 $0 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

Open account More

#4 Fidelity
Deposit and withdrawal
3.8

Fidelity offers an exceptionally wide range of base currencies. On the negative side, credit/debit cards are not accepted and there is a charge for wire withdrawals.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee $10 for outgoing wire transfers
Several account base currencies
Fidelity withdrawal fee and options
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#4 Fidelity
Markets and products
3.9

Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.
Fidelity markets and products
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Stock Yes Yes Yes Yes Yes
ETF Yes Yes No Yes Yes
Forex No Yes No No Yes
Fund Yes Yes No Yes Yes
Bond Yes Yes No Yes Yes
Options Yes Yes No Yes Yes
Futures Yes Yes No No Yes
CFD No Yes No No No
Crypto Yes Yes Yes No No

Open account More

#4 Fidelity
Web trading platform
4.5

Fidelity's web platform is easy to use, has many order types and provides two-step authentication. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best discount brokers - Fidelity trading platform
Fidelity trading platforms
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Web platform score 3.9 stars 4.3 stars - 4.5 stars 4.3 stars
Mobile platform score 4.4 stars 3.5 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 3.0 stars - 3.8 stars 4.5 stars

Open account More

#4 Fidelity
Verdict

Fidelity is one of the biggest US stockbrokers and is regulated by top-tier authorities.

Fidelity's research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The web trading platform is easy to use and offers advanced order types. The offered range of products includes international stock exchanges in addition to the US market, which is not common among US brokers.

Fidelity has some drawbacks, though. The account opening process is not fully digital and fees for mutual funds are quite high, as is the financing rate.

As it has great research tools and a user-friendly web trading platform, and charges no inactivity fee, feel free to try Fidelity's services.

Fidelity
Summary Fidelity is a US stockbroker. It is regulated by top-tier authorities the SEC and FINRA.
Fees score 4.1 stars
Recommended for Investors and traders looking for solid research and great trading platforms

Open account More

TD Ameritrade Logo

#5 Best discount broker
TD Ameritrade

4.9

TD Ameritrade was founded in 1975 and is one of the biggest US-based stockbrokers. It is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

TD Ameritrade is considered a safe broker since it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier regulators.

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Pros Cons
Low trading fees (free stock and ETF trading) You can trade only on US markets
Superb desktop trading platform Accounts mostly limited to US residents
Great customer support No credit/debit cards and electronic wallets for money transfer

Open account

#5 TD Ameritrade
Fees
4.3

TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for mutual funds and futures.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Free stocks and ETFs
TD Ameritrade trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
US stock $0.6 $1.5 $0.0 $0.0 $0.0
UK stock $2.4 $2.4 - $10.8 -
EURUSD benchmark fee - $17.9 - - $13.4
Mutual fund $10.3 $25.0 - $37.5 $50.0
US Treasury bond - $7.5 - $0.0 $0.0
US stock index options $5.0 $15.0 - $6.5 $6.5
TD Ameritrade non-trading fees
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#5 TD Ameritrade
Account opening
3.0

TD Ameritrade offers many different account types, and US citizens face no minimum deposit.
Pros Cons
Fully digital None
No minimum deposit
Many account types
TD Ameritrade minimum deposit and time to open an account
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Minimum deposit $0 $1,000 $0 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

Open account More

#5 TD Ameritrade
Deposit and withdrawal
2.2

TD Ameritrade has user-friendly account funding with no deposit fees, but USD is the only available base currency, and wire transfers incur a high fee.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Only one account base currency
User-friendly High withdrawal fee for wire transfers
TD Ameritrade withdrawal fee and options
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Open account More

#5 TD Ameritrade
Markets and products
3.9

You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.
TD Ameritrade markets and products
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Stock Yes Yes Yes Yes Yes
ETF Yes Yes No Yes Yes
Forex No Yes No No Yes
Fund Yes Yes No Yes Yes
Bond Yes Yes No Yes Yes
Options Yes Yes No Yes Yes
Futures Yes Yes No No Yes
CFD No Yes No No No
Crypto Yes Yes Yes No No

Open account More

#5 TD Ameritrade
Web trading platform
4.3

TD Ameritrade offers a good web trading platform with a clean design. On the flip side, the platform is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Two-step (safer) login
Good variety of order types
Best discount brokers - TD Ameritrade trading platform
TD Ameritrade trading platforms
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Web platform score 3.9 stars 4.3 stars - 4.5 stars 4.3 stars
Mobile platform score 4.4 stars 3.5 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 3.0 stars - 3.8 stars 4.5 stars

Open account More

#5 TD Ameritrade
Verdict

TD Ameritrade is one of the biggest US online brokers. Joining the hot trend of introducing commission-free trading at the end of 2019, TD Ameritrade now charges no commission on stock and ETF trades.

Research and education are outstanding at TD Ameritrade, offering you many useful tools. The Thinkorswim desktop trading platform is one of the best on the marketCustomer service is great, you will get relevant answers within a short time.

TD Ameritrade has some drawbacks though. It charges high financing (margin) rates and it doesn't accept credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers only the US market.

As TD Ameritrade offers great education tools including a demo account, we encourage you to try it.

TD Ameritrade
Summary TD Ameritrade is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group.
Fees score 4.3 stars
Recommended for Investors and traders looking for solid research and a well-equipped desktop trading platform

Open account More

Best discount brokers
What makes a good discount broker?

Now you know the top three discount brokers. You are probably curious about how we came up with this list. Let's go over three points:

  1. What is a discount broker?
  2. Why do we think these brokers are safe?
  3. What are the most important factors when selecting the best discount brokers?

What is a discount broker?

A discount broker is a brokerage company that executes your buy and sell orders at a low trading fee. Discount brokers' fees can be lower since they don't provide extra services like research, personal investment advice, tax planning or robo-advisory as the full-service brokers.

Discount brokers were appearing with the internet and the online broker services. Brokerage companies started to provide their service online and fully automatized. This was the rise of online trading platforms. An online trading platform is basically a website, where you can insert your own orders and you get only a customer support, no investment advice.

The distance between the full-service brokers and discount brokers has been narrowing in the last years. Discount brokers started to provide extra services as well, like research, while full-service brokers started to lower their fees. The full brokerage and wealth management industry is under fee pressure thanks to the more and more cost-effective online broker companies.

Nowadays, the new discount brokers are the free-trade brokers. These provide commission-free trading and charge an extra fee for ancillary services, like after hour trading. The biggest free-trade online broker in the US is Robinhood. In the UK, Freetrade launched its trading app in 2018. Stay tuned, we will come out with the Freetrade broker reviews soon.

Are these brokers safe?

You can be sure none of them is a scam. They are regulated by at least one top-tier regulator.

However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.

If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best discount brokers?

At BrokerChooser, we test online brokers along more than 100 criteria, with a real account and real money. When we selected the best discount brokers, the primary selection criteria were fees.

We made the rank based on the trading fees of all asset classes, such as stock fees, and the fees not related to trading, like the withdrawal fees. We also scored positively if the broker provides a wide range of asset classes, because providing low fees in more than one asset class is not an easy job.

Best discount brokers
Bottom line

You saw the details, now let's zoom out. Here are best discount brokers in 2020:

Best discount brokers in 2020
DEGIRO TradeStation Global Revolut Fidelity TD Ameritrade
Fees score 5.0 stars 4.0 stars 5.0 stars 4.1 stars 4.3 stars
Account opening score 5.0 stars 2.8 stars 5.0 stars 2.9 stars 3.0 stars
Deposit and withdrawal score 3.3 stars 2.5 stars 3.5 stars 3.8 stars 2.2 stars
Markets and products score 3.5 stars 5.0 stars 2.0 stars 3.9 stars 3.9 stars
Web platform score 3.9 stars 4.3 stars - 4.5 stars 4.3 stars
Open account Open account Open account Open account Open account

DEGIRO is our winner, the best discount broker in 2020. Low trading and non-trading fees, one free ETF trading per month.

All brokers are considered a great choice. Pick the winner, or any runner-up and save a lot of money on fees. Let us know what you think in the comment section.

Still unsure? Use the broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Share

Comments

×