Best stock brokers in the US for 2020

To help you to find the best stock broker in the US, we went ahead and did the research for you. First, we selected more than 67 quality stock brokers, then we checked and compared their fees, market and product coverage, trading platform and more. We went deep, so you won't have to.

5 made it to the top in the US. We highly recommend all 5 to you. And now, without further ado...

Our top 5 picks for the best stock brokers of 2020 for citizens in the US:

1. Interactive Brokers is the winner. Wide range of products. Many great research tools. Regulated by several authorities.
2. Fidelity in the second place. Solid research tools. Great web trading platform. US and international stocks.
3. TD Ameritrade rounded out the top three. Low trading fees (free stock and ETF trading) . Superb desktop trading platform. Great customer support.
4. Charles Schwab, numero quatro. Free stock and ETF trading. Outstanding research. Great customer service.
5. E-Trade. Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools. Just made it to the list with being number five.

What makes a good stock broker? First, they need to offer fair fees. They should also offer access to a lot of markets and need to have a great platform. Easy to list, but hard to figure it out. We are testing brokers along ~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 stock brokers in the US one by one, starting with the winner, Interactive Brokers.

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, the broker is considered safe. Also, having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

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#1 Interactive Brokers
Stock trading fees

Interactive Brokers stock trading fees are low.

It is not so easy to compare trading fees for stock trading. What did we do at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for two popular markets, the US and the UK.

A typical trade means that you buy and sell the shares for $2,000.

This super catch-all benchmark fee includes spreads, financing costs (if applies) and commission for all brokers.

Here is the verdict:

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Want to check the pricing by yourself? Here you go:

Non-trading fees

Interactive Brokers has average non-trading fees.

Feel free to check out more about brokerage fees if your want to learn more.

#1 Interactive Brokers
Account opening

3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the online registration is complicated and account verification takes around 2 business days.

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#1 Interactive Brokers
Deposit and withdrawal

2.5

Interactive Brokers 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.

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#1 Interactive Brokers
Markets and products

5.0

Through Interactive Brokers you can access an extremely wide range of markets, with every product type available.

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#1 Interactive Brokers
Web trading platform

4.3

Interactive Brokers's web platform is simple and easy to use even for beginners. On the negative side, it is not customizable.

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#1 Interactive Brokers
Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker for advanced traders.

On the plus side, IB has a vast range of markets and products available, with diverse research tools and low costs. 

There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard-to-understand, especially for beginners.

If you have experience navigating complex platforms and you like transparent low-cost trading, Interactive Brokers could be a great fit for you.

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Fidelity is a US stockbroker, founded in 1946. It is regulated by top-tier regulators 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 regulators.

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

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#2 Fidelity
Stock trading fees

Fidelity stock trading fees are low.

It is not so easy to compare trading fees for stock trading. What did we do at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for two popular markets, the US and the UK.

A typical trade means that you buy and sell the shares for $2,000.

This super catch-all benchmark fee includes spreads, financing costs (if applies) and commission for all brokers.

Here is the verdict:

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Want to check the pricing by yourself? Here you go:

Non-trading fees

Fidelity has low non-trading fees.

Feel free to check out more about brokerage fees if your want to learn more.

#2 Fidelity
Account opening

2.9

Opening an account at Fidelity is easy and fast, but not fully digital. The application had to be mailed with the relevant ID's photocopy.

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#2 Fidelity
Deposit and withdrawal

3.6

Fidelity offers an exceptionally wide range of base currencies. Credit/debit cards are not accepted and the wire withdrawals are charged.

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#2 Fidelity
Markets and products

3.9

Fidelity offers a lot of asset classes, from stocks to options. There are international stocks too, not just US stocks. Forex and futures are missing.

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#2 Fidelity
Web trading platform

4.5

Fidelity's web platform is easy to use, has a lot of order types, and provides a two-step authentication. On the negative side, the web trading platform is not customizable.

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#2 Fidelity
Verdict

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

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 product offer covers international stock exchanges besides the US market, not common among the US brokers.

Fidelity has some drawbacks though. The account is not fully digital, fees for mutual funds are quite high, also financing rate.

As the research tools are great, the web trading platform is user-friendly, and no inactivity fee is charged, feel free to try Fidelity.

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TD Ameritrade was founded in 1978 and it is one of the biggest US-based stockbrokers. It is regulated by top-tier regulators like the Securities and Exchange Commission (SEC), 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 regulated by top-tier regulators.

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

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#3 TD Ameritrade
Stock trading fees

TD Ameritrade stock trading fees are low.

It is not so easy to compare trading fees for stock trading. What did we do at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for two popular markets, the US and the UK.

A typical trade means that you buy and sell the shares for $2,000.

This super catch-all benchmark fee includes spreads, financing costs (if applies) and commission for all brokers.

Here is the verdict:

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Want to check the pricing by yourself? Here you go:

Non-trading fees

TD Ameritrade has low non-trading fees.

Feel free to check out more about brokerage fees if your want to learn more.

#3 TD Ameritrade
Account opening

2.9

As a new client, you can change from many different account types at TD Ameritrade and as US citizen you will face no minimum deposit. Unfortunately, the process is not fully digital.

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#3 TD Ameritrade
Deposit and withdrawal

2.2

TD Ameritrade has user-friendly account funding and charges no deposit fees, but are several drawbacks as well. You can use only bank transfer and a high fee is charged for wire transfer withdrawals.

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#3 TD Ameritrade
Markets and products

3.9

At TD Ameritrade you can trade with a lot of asset classes, from stocks to futures and forex. We also liked the additional features like social trading and the robo-advisory service. On the other hand, the offered products cover only the U.S. market.

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#3 TD Ameritrade
Web trading platform

4.3

TD Ameritrade offers a good web-based trading platform with a clean design. On the flip side, there is no two-step login and the platform is not customizable.

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#3 TD Ameritrade
Verdict

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

Research and education are outstanding and covers a lot of tools. The Thinkorswim desktop trading platform is one of the best on the market. The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. It charges high financing (margin) rates and it doesn't provide credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers products only from U.S. markets. 

As there are great education tools including a demo account, feel free to try it.

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Charles Schwab was founded in 1971 and it is a US discount broker listed on the New York Stock Exchange.

It is regulated by several top-tier financial authorities, such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Financial Conduct Authority (FCA).

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

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#4 Charles Schwab
Stock trading fees

Charles Schwab stock trading fees are low.

It is not so easy to compare trading fees for stock trading. What did we do at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for two popular markets, the US and the UK.

A typical trade means that you buy and sell the shares for $2,000.

This super catch-all benchmark fee includes spreads, financing costs (if applies) and commission for all brokers.

Here is the verdict:

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Want to check the pricing by yourself? Here you go:

Non-trading fees

Charles Schwab has low non-trading fees.

Feel free to check out more about brokerage fees if your want to learn more.

#4 Charles Schwab
Account opening

4.5

Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. If you open an account outside the US, there is a $25,000 minimum deposit.

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#4 Charles Schwab
Deposit and withdrawal

2.2

Transferring money is easy and user-friendly at Charles Schwab and there is no deposit fee. On the flip side, you can only use bank transfer and a high fee is charged for wire transfer withdrawals.

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#4 Charles Schwab
Markets and products

3.3

At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. Unfortunately, the product portfolio covers only US exchanges.

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#4 Charles Schwab
Web trading platform

4.2

Charles Schwab offers a good web-based trading platform with a clean design. On the flip side, the platform is not customizable.

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#4 Charles Schwab
Verdict

Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.

Reflecting the wave of introducing commission-free trading at the end of 2019, Charles Schwab charges no commission for stock and ETF trades. Its research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. It charges high fees for some mutual funds and the product portfolio covers only US markets. Lastly, the educational platform is not well-structured. 

As the trading and non-trading fees are generally low, research tools are great and the account opening is seamless, feel free to try it.

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E-Trade is a US-based stockbroker founded in 1982. It is regulated by top-tier regulators like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

E-Trade is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is regulated by top-tier, US regulators.

In February 2020, E-trade was acquired by Morgan Stanley. In case you are curious, we have written an article about this in which you can find the reasons behind the acquisition.

Recommended for investors and traders looking for solid research and a great mobile trading platform

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#5 E-Trade
Stock trading fees

E-Trade stock trading fees are low.

It is not so easy to compare trading fees for stock trading. What did we do at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for two popular markets, the US and the UK.

A typical trade means that you buy and sell the shares for $2,000.

This super catch-all benchmark fee includes spreads, financing costs (if applies) and commission for all brokers.

Here is the verdict:

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Want to check the pricing by yourself? Here you go:

Non-trading fees

E-Trade has low non-trading fees.

Feel free to check out more about brokerage fees if your want to learn more.

#5 E-Trade
Account opening

3.8

The account opening is fully digital and user-friendly for US clients. On the flip side, the account verification process was slow.

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#5 E-Trade
Deposit and withdrawal

2.2

E-Trade charges no deposit fees and transferring money is user-friendly. On the flip side, you can only use bank transfer and a high fee is charged for wire transfer withdrawals.

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#5 E-Trade
Markets and products

3.0

At E-Trade, you can trade with a lot of asset classes, from stocks to futures. On the other hand, there is US market only and you can't trade with forex.

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#5 E-Trade
Web trading platform

4.0

E-Trade has a great web-based user-friendly trading platform with a clear fee report. On the negative side, there is no two-step login and cannot be customized.

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#5 E-Trade
Verdict

E-Trade is one of the biggest US stockbrokers regulated by top-tier regulators. 

At the end of 2019, riding the commission-free trading trend in the USA E-Trade introduced zero commission on stock and ETF trades. E-Trade's research functions are high-quality and channel a lot of tools, including trading ideas, and strategy builders as well. We liked the easy handling and the personalizable features of the mobile trading platform. 

It has some drawbacks though. E-Trade doesn't provide credit/debit cards and electronic wallets for money transfers and the product portfolio covers only US markets. In addition, the account verification process is slow. 

As the trading fees are generally low, the research tools are great and no inactivity fee is charged, feel free to try E-Trade.

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Now you know the top 5. You are probably curious about how we came up with this list. Let's go through a few points quickly. What is a stock broker? Why do we think these brokers are safe? What are the most important factors when selecting the best stock brokers?

What is a stock broker?

Thirty years ago if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.

Are these brokers safe?

Yes, they are considered safe. You can be sure none of them is a scam. They are regulated by top-tier regulators. Some of them are also listed on an exchange, and some have a banking background.

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 international stock brokers for a citizen in the US?

At BrokerChooser we test online brokers along ~100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria.

The 5 most important criteria for stock brokers are:

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

Interactive Brokers is our winner, the best stock broker in the US for 2020. Wide range of products. Many great research tools. Regulated by several authorities.

All stock brokers are considered a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. 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