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Best online brokers in 2023

Written by: Ádám N. Updated: Dec 2022
Expert verified
Interactive Brokers Logo
1st place
Interactive Brokers
TD Ameritrade Logo
2nd place
TD Ameritrade
Charles Schwab Logo
3rd place
Charles Schwab

How do we recommend the best online brokers in 2023?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • We checked and compared every aspect of their services,
  • Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology. Now let's jump straight to the results!


Top 5 picks for best online brokers in the United States in 2023:


  1. Interactive Brokers is the best online broker in 2023. - Low trading fees. Wide range of products. Many great research tools.
  2. TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  3. Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
  4. Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
  5. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
Check out the best brokers in another country

Best online brokers in 2023
Best online brokers' key info overview

While many online broker platforms offer an excellent service, the ones in our toplist go the extra mile. These online trading platforms offer a broad range of markets and asset classes and are suitable for beginners and experienced traders alike.

Best online brokers in 2023
Interactive Brokers TD Ameritrade Charles Schwab Merrill Edge eToro
Broker intro International broker providing all asset classes US-based stockbroker US discount broker US discount broker Global social trading broker
Overall score 4.9 stars 4.9 stars 4.8 stars 4.8 stars 4.8 stars
Minimum deposit $0 $0 $0 $0 $10
Account opening score 3.2 stars 4.0 stars 4.6 stars 5.0 stars 5.0 stars
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Best online brokers in 2023
Trading fees

In most cases the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important fees for you in the table below.

Fees at the best online brokers in December 2022
Interactive Brokers TD Ameritrade Charles Schwab Merrill Edge eToro
US stock $1.0 $0.0 $0.0 $0.0 $0.0
UK stock $3.4 - - - $0.0
EURUSD benchmark fee $14.7 $15.1 - - $15.6
US stock index options $6.5 $6.5 $6.5 $6.5 -
Mutual fund $15.0 $50.0 $24.8 $20.0 -
S&P 500 index CFD fee $3.3 - - - $3.1

All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.

Best online brokers in 2023
Other fees at best online brokers

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Interactive Brokers TD Ameritrade Charles Schwab Merrill Edge eToro
Account fee No No No No No
Inactivity fee No No No No Yes
Withdrawal fee $0 $0 $0 $0 $5
Deposit fee $0 $0 $0 $0 $0
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Best online brokers in 2023
Our assessment of best online brokers in 2023

At BrokerChooser we do our best to make it easier for you to compare and select the best broker for your needs. Here is a summary of our scores in the most important aspects of these trading platforms' services.

Score summary of best online brokers 2023
Interactive Brokers TD Ameritrade Charles Schwab Merrill Edge eToro
Overall score 4.9 stars 4.9 stars 4.8 stars 4.8 stars 4.8 stars
Fees score 4.5 stars 4.1 stars 4.3 stars 4.4 stars 4.3 stars
Mobile platform score 3.5 stars 4.8 stars 4.2 stars 4.8 stars 4.9 stars
Deposit and withdrawal score 3.0 stars 2.2 stars 2.2 stars 2.2 stars 3.8 stars

If you are unsure how brokerage fees are charged, check out this article on the various fees, charges and costs.

And now, let's see the top online brokers for 2023 in detail one by one, starting with the winner, Interactive Brokers.

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Interactive Brokers Logo

#1 Best online broker
Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

Interactive Brokers snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee No
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2023
TD Ameritrade Logo

#2 Best online broker
TD Ameritrade

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

Visit broker

TD Ameritrade snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee No
Read review For a detailed analysis of TD Ameritrade services, check out our review for 2023
Charles Schwab Logo

#3 Best online broker
Charles Schwab

Recommended for investors and traders looking for solid research, low fees and great customer service

Visit broker

Charles Schwab snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1 day
Inactivity fee No
Read review For a detailed analysis of Charles Schwab services, check out our review for 2023
Merrill Edge Logo

#4 Best online broker
Merrill Edge

Recommended for investors and traders looking for low fees, quick account opening and simple platforms

Visit broker

Merrill Edge snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1 day
Inactivity fee No
Read review For a detailed analysis of Merrill Edge services, check out our review for 2023
eToro Logo

#5 Best online broker
eToro

Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading

Visit broker
Your capital is at risk

eToro snapshot
Minimum deposit $10
Fees class Low
Deposit method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL
Withdrawal method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL
Withdrawal fee $5
Time to open account 1 day
Inactivity fee Yes
Read review For a detailed analysis of eToro services, check out our review for 2023

Best online brokers in 2023
What makes a good online broker

Now that you know the top 5, you probably want to know how we came up with this list. Let's go through a few points quickly.

Are these brokers reliable?

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

How did BrokerChooser pick the best online brokers?

At BrokerChooser, we test online brokers based on more than 500 criteria, with real accounts and real money. We don't want to overwhelm you, so we will list only the five top criteria.

The 5 most important criteria for the best online brokers in 2023
1. Fees The trading fees of a given stock trade can be 50 times higher at one online broker compared to another. The brokers featured on our top list all have low fees.
2. Deposit and withdrawal At some online brokers, funding and withdrawing funds can take much longer and be much more expensive than at others.
3. Trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
4. Account opening Some online brokers require a minimum deposit to start investing while others don't ask for a fix first-time deposit. The table at the top of this article breaks down minimum deposit amounts.
5. Markets and products Want to invest in Canadian stocks or trade Bitcoin? They are not available at each broker. We selected brokers with a wide product portfolio so you can trade many asset types.

Interactive Brokers is our winner, selected the best online broker in 2023. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are a great choice and score high in terms of safety. Pick the winner, or any of the runners-up, and take the next step in your trading journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country, it will show only the brokers that are relevant to you. Want more details? Compare brokers with the help of this detailed comparison table.

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

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

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