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Online Brokerage Comparison Tool
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Use the StockBrokers.com online brokerage comparison tool to compare over 150 different account features and fees across 16 online brokers: Ally Invest, Charles Schwab, Chase You Invest Trade, ChoiceTrade, Cobra Trading, E*TRADE, Fidelity, Firstrade, Interactive Brokers, Just2Trade, Lightspeed, Merrill Edge, Robinhood, SogoTrade, SpeedTrader, TD Ameritrade, and TradeStation. Compare trading commissions, account fees, trading tools and platforms, market research functionality, mobile apps, beginner education, and current special offers.
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Exclusive Offer
Trade free for 90 days + get up to $600 Open Account
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Exclusive Offer
Get 300 commission-free trades and 2 years to use them Open Account
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Exclusive Offer
New clients that open an account today receive a special margin rate Open Account
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Promo Offer
Spring into the market action with FREE trading until 2020 Open Account
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Special Offer
Invest in a new account and get up to $600 Open Account
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| Open Account | Open Account | Open Account | Open Account | Open Account |
Overall Rating
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
| Overall | |||||
| TD Ameritrade Review | Fidelity Investments Review | Interactive Brokers Review | TradeStation Review | Merrill Edge Review |
Trading Fees
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
| Minimum Deposit | $0.00 | $0.00 | $0.00 | $500.00 | $0.00 |
| Stock Trade Fee (per trade) | $6.95 | $4.95 | N/A | $5.00 | $6.95 |
| ETF Trade Fee | $6.95 | $4.95 | $0.01 | $5.00 | $6.95 |
| Options Base Fee | $6.95 | $4.95 | $0.00 | $5.00 | $6.95 |
| Options Per Contract Fee | $0.75 | $0.65 | $0.70 | $0.50 | $0.75 |
| Mutual Fund Trade Fee | $49.99 | $49.95 | $14.95 | $14.95 | $19.95 |
| Broker Assisted Trades Fee | $44.99 | $32.95 | $30.00 | $50.00 | $29.95 |
| Commissions & Fees | |||||
| Winner | check_circle |
Margin Rates
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
| Under $24,999.99 | 10.25% | 9.58% | 3.68% | 9.25% | 10.63% |
| $25,000.00 to $49,999.99 | 10.00% | 9.08% | 3.68% | 9.25% | 9.50% |
| $50,000.00 to $99,999.99 | 9.00% | 8.13% | 3.68% | 8.50% | 9.50% |
| $100,000.00 to $249,999.99 | 8.75% | 8.08% | 3.18% | 8.50% | 8.13% |
| $250,000.00 to $499,999.99 | 8.50% | 7.83% | 3.18% | 8.50% | 8.13% |
| $500,000.00 to $999,999.99 | 8.50% | 5.50% | 3.18% | 5.25% | 7.88% |
| Above $1,000,000.00 | 7.75% | 5.25% | 2.68% | 5.25% | 7.25% |
| Commissions & Fees | |||||
| Winner | check_circle |
Account Fees
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
| IRA Annual Fee | 0 | 0 | 0 | 35 | 0 |
| IRA Closure Fee | 0 | 0 | 0 | 50 | 49.95 |
| Returned ACH Fee | 25 | 0 | N/A | 25 | 30 |
| Returned Wire Fee | 25 | 0 | N/A | 25 | N/A |
| Stock Certificate Processing Fee | 0 | 0 | N/A | 150 | 500 |
| Stock Certificate Delivery Fee | 500 | 100 | N/A | 15 | N/A |
| Paper Statement Fee | 0 | 0 | N/A | 1 | 5 |
| Paper Confirmation Fee | 0 | 0 | N/A | 1 | 3 |
| Domestic Wire Fee | 25 | 0 | 10 | 25 | 24.95 |
| International Wire Fee | 25 | 0 | 10 | 35 | 24.95 |
| Commissions & Fees |
Investment Options
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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Stock Trading |
Yes | Yes | Yes | Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes | Yes | Yes | Yes |
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Options Trading |
Yes | Yes | Yes | Yes | Yes |
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Complex Options Max Legs |
4 | 4 | 8 | 4 | 2 |
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Futures Trading |
Yes | No | Yes | Yes | No |
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Forex Trading |
Yes | No | No | No | No |
| Commission-Free ETFs | 571 | 500 | 48 | 0 | 0 |
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Mutual Funds (No Load) |
5185 | 4031 | 7558 | 887 | 2471 |
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Mutual Funds (Total) |
12418 | 11782 | 11000 | 4357 | 3709 |
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Bonds (US Treasury) |
Yes | Yes | Yes | Yes | Yes |
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Bonds (Corporate) |
Yes | Yes | Yes | Yes | Yes |
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Bonds (Municipal) |
Yes | Yes | Yes | Yes | Yes |
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Advisor Services |
Yes | Yes | No | No | Yes |
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International Trading |
Yes | Yes | Yes | No | No |
| Offering of Investments | |||||
| Winner | check_circle |
Order Types
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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Order Type - Market |
Yes | Yes | Yes | Yes | Yes |
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Order Type - Limit |
Yes | Yes | Yes | Yes | Yes |
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Order Type - Stop |
Yes | Yes | Yes | Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes | Yes | Yes | Yes |
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Order Type - Contingent |
Yes | Yes | Yes | Yes | No |
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Order Type - MultiContingent |
Yes | Yes | Yes | Yes | No |
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Order Type - OCO |
Yes | Yes | Yes | Yes | No |
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Order Type - OTO |
Yes | Yes | Yes | Yes | No |
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Order Type - OTOCO |
Yes | Yes | Yes | Yes | No |
| Offering of Investments | |||||
| Winner | check_circle |
Trading Platforms
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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Desktop Platform (Windows) |
Yes | Yes | Yes | Yes | Yes |
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Desktop Platform (Mac) |
Yes | Yes | Yes | No | Yes |
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Web Platform |
Yes | Yes | Yes | Yes | Yes |
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Paper Trading |
Yes | No | Yes | Yes | No |
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Trade Journal |
Yes | Yes | Yes | No | No |
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Watch Lists - Total Fields |
514 | 91 | 453 | 335 | 285 |
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Two-Factor Authentication Login |
Yes | Yes | Yes | Yes | Yes |
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Heat Mapping |
Yes | Yes | Yes | No | Yes |
| Platforms & Tools | |||||
| Winner | check_circle |
Charting Features
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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Charting - Trade Off Chart |
Yes | Yes | Yes | Yes | Yes |
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Charting - Indicators / Studies |
411 | 166 | 121 | 282 | 95 |
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Charting - Drawing Tools |
22 | 22 | 9 | 23 | 22 |
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Charting - Historical Trades |
Yes | Yes | Yes | Yes | Yes |
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Charting - Corporate Events |
Yes | Yes | Yes | No | Yes |
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Charting - Automated Analysis |
Yes | Yes | No | No | Yes |
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Charting - Save Profiles |
Yes | Yes | Yes | Yes | Yes |
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Charting - Study Customizations |
9 | 5 | 6 | 12 | 8 |
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Charting - Custom Studies |
Yes | No | No | Yes | No |
| Platforms & Tools | |||||
| Winner | check_circle |
Day Trading
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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Stock Alerts - Basic Fields |
Yes | Yes | Yes | Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | Yes | No | Yes | Yes |
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Streaming Time & Sales |
Yes | Yes | Yes | Yes | Yes |
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Streaming TV |
Yes | Yes | Yes | No | No |
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Direct Market Routing - Stocks |
Yes | Yes | Yes | Yes | No |
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Direct Market Routing - Options |
Yes | Yes | Yes | Yes | No |
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Ladder Trading |
Yes | No | Yes | Yes | No |
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Trade Hot Keys |
Yes | Yes | Yes | Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes | Yes | Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes | Yes | Yes | Yes |
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Trade Ideas - Backtesting |
Yes | Yes | Yes | Yes | Yes |
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Short Locator |
No | Yes | Yes | Yes | No |
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Client Liquidity Rebates |
No | No | Yes | Yes | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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iPhone App |
Yes | Yes | Yes | Yes | Yes |
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Android App |
Yes | Yes | Yes | Yes | Yes |
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Apple Watch App |
Yes | Yes | Yes | No | Yes |
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Trading - Stocks |
Yes | Yes | Yes | Yes | Yes |
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Trading - After-Hours |
Yes | Yes | Yes | Yes | Yes |
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Trading - Conditional Orders |
Yes | No | Yes | Yes | No |
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Trading - Mutual Funds |
No | Yes | Yes | No | Yes |
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Trading - Simple Options |
Yes | Yes | Yes | Yes | Yes |
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Trading - Complex Options |
Yes | Yes | Yes | Yes | Yes |
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Trading - Option Rolling |
Yes | No | No | No | No |
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Touch / Face ID |
Yes | Yes | Yes | Yes | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
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Watch List Syncing |
Yes | Yes | Yes | Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | Yes | Yes | Yes | Yes |
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Stock Alerts - Advanced Fields |
No | Yes | No | No | No |
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Charting - After Hours |
Yes | Yes | Yes | Yes | Yes |
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Charting - Drawing |
Yes | No | No | Yes | Yes |
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Charting - Study Customizations |
Yes | Yes | Yes | Yes | Yes |
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Customizable Homescreen |
No | Yes | No | No | Yes |
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Heatmapping |
No | Yes | No | No | Yes |
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Stream Live TV |
Yes | Yes | Yes | No | No |
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Barcode Lookup |
Yes | No | No | No | No |
| Mobile Trading | |||||
| Winner | check_circle |
Research Overview
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
Research - Stocks |
Yes | Yes | Yes | Yes | Yes |
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Research - ETFs |
Yes | Yes | Yes | Yes | Yes |
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Research - Mutual Funds |
Yes | Yes | No | No | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes | Yes | Yes | Yes |
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Research - Fixed Income |
Yes | Yes | Yes | No | Yes |
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Research - Futures |
Yes | Yes | Yes | Yes | No |
|
Research - Forex |
Yes | No | Yes | Yes | No |
|
Screener - Stocks |
Yes | Yes | Yes | Yes | Yes |
|
Screener - ETFs |
Yes | Yes | Yes | No | Yes |
|
Screener - Mutual Funds |
Yes | Yes | No | No | Yes |
|
Screener - Options |
Yes | Yes | Yes | Yes | Yes |
|
Screener - Bonds |
Yes | Yes | Yes | No | Yes |
|
Misc - Portfolio Builder |
Yes | Yes | Yes | No | Yes |
|
Misc - Portfolio Allocation |
Yes | Yes | Yes | No | Yes |
| Research | |||||
| Winner | check_circle |
Stock Research
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
Stock Research - Reports |
7 | 12 | 1 | 0 | 3 |
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Stock Research - Earnings |
Yes | Yes | Yes | No | Yes |
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Stock Research - Insiders |
Yes | Yes | Yes | No | Yes |
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Stock Research - Metric Comp |
Yes | Yes | Yes | No | Yes |
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Stock Research - SEC Filings |
Yes | Yes | Yes | No | Yes |
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Stock Research - Social |
Yes | Yes | Yes | No | No |
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Stock Research - Balance Sheet |
Yes | Yes | Yes | No | Yes |
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Stock Research - Cash Flows |
Yes | Yes | Yes | No | Yes |
|
Stock Research - News |
Yes | Yes | Yes | Yes | Yes |
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Stock Research - ESG |
No | Yes | Yes | No | Yes |
| Research | |||||
| Winner | check_circle |
ETF Research
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
ETFs - Strategy Overview |
Yes | Yes | Yes | No | Yes |
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ETFs - Top 10 Holdings |
Yes | Yes | Yes | No | Yes |
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ETFs - Sector Exposure |
Yes | Yes | Yes | No | Yes |
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ETFs - Risk Analysis |
Yes | Yes | Yes | No | Yes |
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ETFs - Performance Analysis |
Yes | Yes | Yes | No | Yes |
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ETFs - Ratings |
Yes | Yes | Yes | No | Yes |
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ETFs - Morningstar StyleMap |
Yes | Yes | No | No | Yes |
|
ETFs - Reports |
Yes | Yes | Yes | No | Yes |
| Research | |||||
| Winner | check_circle |
Mutual Fund Research
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
Mutual Funds - Strategy Overview |
Yes | Yes | No | No | Yes |
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Mutual Funds - Prospectus |
Yes | Yes | Yes | No | Yes |
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Mutual Funds - Reports |
Yes | No | Yes | No | Yes |
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Mutual Funds - Fees Breakdown |
Yes | Yes | Yes | No | Yes |
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Mutual Funds - Top 10 Holdings |
Yes | Yes | No | No | Yes |
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Mutual Funds - Asset Allocation |
Yes | Yes | No | No | Yes |
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Mutual Funds - Sector Allocation |
Yes | Yes | No | No | Yes |
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Mutual Funds - Country Allocation |
No | Yes | No | No | Yes |
|
Mutual Funds - StyleMap |
Yes | Yes | No | No | Yes |
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Mutual Funds - 3rd Party Ratings |
Yes | Yes | No | No | Yes |
| Research | |||||
| Winner | check_circle |
Options Trading
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
Option Chains - Streaming |
Yes | Yes | Yes | Yes | Yes |
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Option Chains - Total Columns |
33 | 26 | 37 | 32 | 69 |
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Option Chains - Greeks |
5 | 5 | 4 | 5 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes | Yes | Yes | Yes |
|
Option Analysis - P&L Charts |
Yes | Yes | Yes | Yes | Yes |
|
Option Probability Analysis |
Yes | Yes | Yes | Yes | Yes |
|
Option Probability Analysis Adv |
Yes | Yes | Yes | Yes | No |
|
Option Positions - Greeks |
Yes | Yes | Yes | Yes | Yes |
|
Option Positions - Adv Analysis |
Yes | Yes | Yes | Yes | Yes |
|
Option Positions - Rolling |
Yes | Yes | Yes | Yes | No |
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Option Positions - Grouping |
Yes | Yes | Yes | Yes | Yes |
| Platforms & Tools | |||||
| Winner | check_circle |
Beginners
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
Has Education - Stocks |
Yes | Yes | Yes | Yes | Yes |
|
Has Education - ETFs |
Yes | Yes | No | No | Yes |
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Has Education - Options |
Yes | Yes | Yes | Yes | Yes |
|
Has Education - Mutual Funds |
Yes | Yes | No | No | Yes |
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Has Education - Fixed Income |
Yes | Yes | No | No | Yes |
|
Has Education - Retirement |
Yes | Yes | No | No | Yes |
|
Paper Trading |
Yes | No | Yes | Yes | No |
|
Videos |
Yes | Yes | Yes | Yes | Yes |
|
Webinars (Monthly Avg) |
500 | 8 | 20 | 30 | 0 |
|
Webinars (Archived) |
Yes | Yes | Yes | Yes | No |
|
Live Seminars |
Yes | Yes | No | Yes | Yes |
|
Progress Tracking |
Yes | Yes | Yes | No | No |
|
Interactive Learning - Quizzes |
Yes | Yes | Yes | No | Yes |
|
Investor Magazine |
Yes | Yes | Yes | Yes | Yes |
| Education | |||||
| Winner | check_circle |
Banking
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
|
Retail Locations |
364 | 197 | 0 | 0 | 4400 |
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Member FDIC |
No | No | No | No | Yes |
|
Checking Accounts |
Yes | Yes | Yes | No | Yes |
|
Savings Accounts |
No | Yes | No | No | Yes |
|
Credit Cards |
Yes | Yes | No | No | Yes |
|
Debit Cards |
Yes | Yes | Yes | No | Yes |
|
Mortgage Loans |
No | No | No | No | Yes |
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No Fee Banking |
Yes | Yes | No | No | No |
| Banking | |||||
| Winner | check_circle |
Overall
| Feature | TD Ameritrade | Fidelity Investments | Interactive Brokers | TradeStation | Merrill Edge |
| TD Ameritrade Review | Fidelity Investments Review | Interactive Brokers Review | TradeStation Review | Merrill Edge Review | |
| Overall | |||||
| Winner | check_circle |
All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
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