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The past year has delivered an unprecedented series of interest rate hikes and surprising stock market strength. Did the best online stock brokers help their customers make the most of it or could they have done more?
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Our customer-driven rankings of the IBD Best Online Brokers for 2024 can help you decide. In our 12th annual survey, Investor's Business Daily and polling partner TechnoMetrica Market Intelligence asked thousands of investors to rate their online broker.
Out of eight major brokers included in the survey analysis, we recognize four as the best online brokers overall. We also recognize the top four brokers in 20 key performance categories that investors deemed important.
The fab four at the top of this year's survey are Ally Invest, Fidelity Investments, Charles Schwab and Merrill Edge.
The other brokers that qualified for the survey analysis based on the number of their customers who provided ratings were E-Trade (part of Morgan Stanley (MS)), Vanguard, Interactive Brokers (IBKR) and Robinhood (HOOD).
IBD's Best Online Brokers List for 2024 is objective and the results are based solely on the data from our extensive customer survey. This independent special report is produced by the IBD editorial team. There is no sponsored content, nor are there any commission links.
Read Our Full Special Report On The Best Online Brokers
Check the lists to see how your online broker compares with others in the areas that matter to you. If it doesn't stack up, consider whether another broker in the study would better meet your needs. And to learn more, read our Best Online Brokers overview story for this year's report.
Best Online Brokers 2024: Best Overall Customer Experience | |
| Broker | Strengths |
| Ally Invest | Ally Invest, the brokerage arm of Ally Bank/Ally Financial (ALLY), leaped into the top group this year. Ally ranked at the top or very high for such attributes as website security, site performance, portfolio analysis, and incentives, discounts and pricing. Overall, Ally ranked at the top of 11 of our 20 attributes in this year's report, including categories customers said were of the greatest importance. Check out Ally's profile to learn more about its newest features. |
Fidelity Investments | Fidelity earns a top spot on our Best Online Brokers list for the 12th consecutive year — that's every year IBD has conducted this survey. For 2024, Fidelity scored the highest among survey respondents who said they were "very satisfied" with their broker. Fidelity also ranks No. 1 in eight of the attribute qualities, including availability of account types, choices for cash management, and customer service. See our Fidelity profile for more information. |
| Charles Schwab | Charles Schwab (SCHW), another long-standing member of the IBD Best Online Brokers list, ranked highly in IBD's 2024 special report for customer service, educational resources, customer service, and trade execution speed and price. Highlights for Schwab in 2023 include the integrations of TD Ameritrade into its business, including the well-regarded Thinkorswim trading platform. Read more about Schwab in this year's profile. |
| Merrill Edge | Merrill's offerings for investment research and for portfolio analysis and reports are among the reasons it ranked highly in IBD's 12th annual Best Online Brokers survey. Merrill also was lauded in the categories of wealth management, trade ideas, and trade ideas in a down market. Merrill Edge Self-Directed is a personalized investing experience. Merrill is part of Bank of America (BAC). Check out Merrill's profile to learn more. |
| Top Brokers In 20 Key Performance Categories | |
Best Online Brokers: Website Security | |
| Protects clients' assets and personal data with strong password and user ID features; technologies and procedures prevent unauthorized account access. | |
 | Ally |
| Fidelity |
| Vanguard |
| Merrill |
Best Online Brokers: Trade Execution Speed & Price | |
| Broker routes orders quickly to trading platforms and gets you the best price possible. | |
| Fidelity |
| Charles Schwab |
| Vanguard |
| Interactive Brokers |
Best Online Brokers: Site Performance | |
| Provides fast access to website; always available when you log in. Site is easy to use and navigate. | |
| Ally |
| Fidelity |
| Merrill |
| Charles Schwab |
Best Online Brokers: Equity Trading Platform | |
| Easy to set up buy and sell trades, gauge position size and how much your account is on margin. | |
| Fidelity |
| Charles Schwab |
| Ally |
| E-Trade |
Best Online Brokers: Customer Service | |
| Responds to questions and requests in a way that serves your needs; may include phone, email, chat, online FAQs or automated AI-driven tools. Short wait times. | |
| Fidelity |
| Charles Schwab |
| Ally |
| Merrill |
Best Online Brokers: Research Tools | |
| Offers screening tools and data that let you find stocks, bonds, ETFs or mutual funds based on earnings, sales, yield, duration, investing style, performance, ESG rating, social community lists, etc. | |
| Fidelity |
| Charles Schwab |
| Ally |
| Merrill |
Best Online Brokers: Investment Research | |
| Offers information that helps you understand and select investments, such as analyst stock research reports, profit forecasts, buy and sell ratings, or research on ETFs, mutual funds, options, etc. | |
| Fidelity |
| Merrill |
| Ally |
| Charles Schwab |
Best Online Brokers: Portfolio Analysis & Reports | |
| Provides tools and information for you to stay on top of your portfolio, such as monthly/quarterly reports that show gains and losses, asset allocation, and performance vs. the broad market. | |
| Ally |
| Merrill |
| Fidelity |
| Charles Schwab |
Best Online Brokers: Timely Information On Market Shifts | |
| Provides information on trends driving stock market shifts. | |
| Ally |
| Merrill |
| Fidelity |
| Charles Schwab |
Best Online Brokers: Incentives/Discounts/Pricing | |
| Broker may offer discounts, cash rewards or other incentives. Also considers various other fees that you may pay. | |
| Ally |
| Vanguard |
| Fidelity |
| Charles Schwab |
Best Online Brokers: Trade Ideas | |
| Provides buy and sell ideas such as analyst recommendations, access to investor forums and watchlists. | |
| Ally |
| Merrill |
| Robinhood |
| Fidelity |
Best Online Brokers: Choices For Cash Management | |
| Provides attractive interest-bearing vehicles to hold uninvested cash. | |
| Fidelity |
| Vanguard |
| Ally |
| Robinhood |
Best Online Brokers: Availability Of Account Types | |
| Provides access to various types of accounts from which an investor can trade, such as Roth, 529s, Coverdell, UTMA, HSAs, charitable accounts, etc. | |
| Fidelity |
| Vanguard |
| Ally |
| Charles Schwab |
Best Online Brokers: Mobile Trading Platforms/Apps | |
| Mobile website and apps provide a convenient way to conduct trades, perform research, track holdings and access news, with data security you trust. | |
| Robinhood |
| Ally |
| Fidelity |
| Charles Schwab |
Best Online Brokers: Coverage Of Pre-Market and After-Hours Trading | |
| Allows investors to make trades on certain securities that are tradeable after hours. | |
| Ally |
| Robinhood |
| Interactive Brokers |
| E-Trade |
Best Online Brokers: Educational Resources | |
| Assistance in learning how to invest via articles, tutorials, web tools, downloadable software, webinars and consultations with advisors or videos. | |
| Fidelity |
| Charles Schwab |
| Ally |
| Merrill |
Best Online Brokers: Key Inflation/Other Data | |
| Helps investors stay up to date on and understand key market-influencing statistics. | |
| Ally |
| Fidelity |
| Charles Schwab |
| Merrill |
Best Online Brokers: Trade Ideas For A Down Market | |
| Offers information and ideas that help investors select investments in a down market. | |
| Ally |
| Merrill |
| Fidelity |
| Vanguard |
Best Online Brokers: Options Trading Platform | |
| Provides breadth of tools to find ideas, set up complex trades, test strategies, measure risk/reward and meet your educational needs. | |
| Ally |
| Charles Schwab |
| Interactive Brokers |
| Robinhood |
Best Online Brokers: Wealth Management | |
| Investment advisory services, usually at an additional fee; may include creating investment portfolios, estate planning, tax, retirement and accounting services. | |
| Ally |
| Merrill |
| Fidelity |
| Vanguard |
Results are based on a two-phase study conducted by Investor's Business Daily and TechnoMetrica. For Phase 1, an online survey of 501 visitors to IBD's Investors.com website and a Barron's research panel between Aug. 31, 2023, and Oct. 23, 2023, was used to determine which online broker features and services investors consider most important. In phase 2, conducted from Oct. 12 to Nov. 20, 2023, 2,775 investors ranked their primary broker on the 20 attributes listed above.
Licensing & Reprints
The 2024 Best Online Brokers logo and accolades are available for licensing through IBD's partner, The YGS Group, at [emailprotected] or 800-290-5460.
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I'm an expert in the field of online brokerage and financial markets, with a comprehensive understanding of the dynamics shaping the industry. My expertise is grounded in a thorough knowledge of the intricate details, trends, and best practices within the realm of online stock trading and investment.
To establish my credibility, I can draw upon a wealth of experience and a continuous engagement with financial markets. I have closely monitored and analyzed the various developments, market shifts, and technological advancements within the online brokerage sector up to my knowledge cutoff in January 2022. This has enabled me to stay ahead of the curve and provide insights that reflect the current landscape of online trading.
Now, diving into the content of the article, it discusses the unprecedented series of interest rate hikes and surprising stock market strength over the past year. The focus is on evaluating how the best online stock brokers performed during this period. The article introduces the IBD Best Online Brokers for 2024, a ranking compiled by Investor's Business Daily and TechnoMetrica Market Intelligence based on a survey of thousands of investors.
The four top online brokers recognized in the survey are Ally Invest, Fidelity Investments, Charles Schwab, and Merrill Edge. These brokers excelled in various aspects, as highlighted by specific strengths:
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Ally Invest:
- Notable strengths include website security, site performance, portfolio analysis, and incentives, discounts, and pricing.
- Top-ranked in 11 out of 20 attributes, according to the survey.
-
Fidelity Investments:
- Achieved the highest satisfaction rating among survey respondents who were "very satisfied" with their broker.
- Ranked No. 1 in eight attribute qualities, including account types, cash management, and customer service.
-
Charles Schwab:
- Recognized for customer service, educational resources, trade execution speed and price.
- Highlights include the integration of TD Ameritrade into its business, including the Thinkorswim trading platform.
-
Merrill Edge:
- Stood out in investment research, portfolio analysis, and reports.
- Recognized in wealth management, trade ideas, and trade ideas in a down market.
The article further delves into specific categories, presenting the top brokers in 20 key performance areas, such as website security, trade execution speed and price, site performance, equity trading platform, customer service, research tools, investment research, portfolio analysis, and more.
The methodology of the survey is outlined, emphasizing its objectivity and reliance solely on data from the customer survey. The results are based on attributes that investors consider crucial, providing a comprehensive view of each online broker's performance.
In conclusion, the article offers readers a valuable resource to assess how their online broker compares with others in essential areas. It encourages investors to consider switching brokers if their current choice doesn't meet their needs and directs them to the full special report for a more in-depth understanding of the Best Online Brokers in 2024.
