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Online Brokerage Comparison Tool

StockBrokers.com | April 27th, 2020

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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Promo Offer Commission-Free Trades on Stocks, ETFs & Options Trades Open Account
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Overall Rating

Trading Fees

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Minimum Deposit $0.00 $0.00 $0.00 $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00 $0.00 $0.00 $0.00
ETF Trade Fee $0.00 $0.00 $0.00 $0.00 $0.00
Options Base Fee $0.00 $0.00 $0.00 $0.00 $0.00
Options Per Contract Fee $0.65 $0.50 $0.65 $0.65 $0.65
Mutual Fund Trade Fee $49.99 $14.95 $49.95 $49.95 $19.95
Broker Assisted Trades Fee $44.99 $50.00 $32.95 $25.00 $29.95
Commissions & Fees 4.5 4.5 4.5 4.5 4.5
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Margin Rates

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Under $24,999.99 9.50% 9.50% 8.33% 8.33% 8.63%
$25,000.00 to $49,999.99 9.00% 9.50% 7.83% 7.83% 7.50%
$50,000.00 to $99,999.99 8.00% 8.75% 6.88% 6.88% 7.50%
$100,000.00 to $249,999.99 7.75% 8.75% 6.83% 6.83% N/A
$250,000.00 to $499,999.99 7.50% 8.75% 6.58% 6.58% N/A
$500,000.00 to $999,999.99 N/A 5.50% 4.25% N/A N/A
Above $1,000,000.00 N/A 5.50% 4.00% N/A N/A
Commissions & Fees 4.5 4.5 4.5 4.5 4.5
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Account Fees

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
IRA Annual Fee $0.00 $35.00 $0.00 $0.00 $0.00
IRA Closure Fee $0.00 $50.00 $0.00 $50.00 $49.95
Returned ACH Fee $25.00 $25.00 $0.00 $25.00 $30.00
Returned Wire Fee $25.00 $25.00 $0.00 $25.00 N/A
Stock Certificate Processing Fee $0.00 $150.00 $0.00 $100.00 $500.00
Stock Certificate Delivery Fee $500.00 $15.00 $100.00 N/A N/A
Paper Statement Fee $0.00 $1.00 $0.00 $0.00 $5.00
Paper Confirmation Fee $0.00 $1.00 $0.00 $0.00 $3.00
Domestic Wire Fee $25.00 $25.00 $0.00 $25.00 $24.95
International Wire Fee $25.00 $35.00 $0.00 $25.00 $24.95
Commissions & Fees 4.5 4.5 4.5 4.5 4.5

Investment Options

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Stock Trading
Yes Yes Yes Yes Yes
Fractional Shares
No No Yes Yes No
OTCBB / Pink Sheets
Yes Yes Yes Yes Yes
Options Trading
Yes Yes Yes Yes Yes
Complex Options Max Legs
4 4 4 4 2
Futures Trading
Yes Yes No Yes No
Forex Trading
Yes No No No No
Commission-Free ETFs all all all all all
Mutual Funds (No Load)
5992 887 3957 7291 2471
Mutual Funds (Total)
11949 4357 11246 9978 3709
Bonds (US Treasury)
Yes Yes Yes Yes Yes
Bonds (Corporate)
Yes Yes Yes Yes Yes
Bonds (Municipal)
Yes Yes Yes Yes Yes
Interest Sharing
No Yes Yes No No
Advisor Services
Yes No Yes Yes Yes
International Trading
Yes No Yes Yes No
Offering of Investments 4.5 4.5 4.5 4.5 3.5
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Order Types

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Order Type - Market
Yes Yes Yes Yes Yes
Order Type - Limit
Yes Yes Yes Yes Yes
Order Type - Stop
Yes Yes Yes Yes Yes
Order Type - Trailing Stop
Yes Yes Yes Yes Yes
Order Type - Contingent
Yes Yes Yes Yes No
Order Type - MultiContingent
Yes Yes Yes Yes No
Order Type - OCO
Yes Yes Yes Yes No
Order Type - OTO
Yes Yes Yes Yes No
Order Type - OTOCO
Yes Yes Yes Yes No
Offering of Investments 4.5 4.5 4.5 4.5 3.5
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Trading Platforms

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Desktop Platform (Windows)
Yes Yes Yes Yes Yes
Desktop Platform (Mac)
Yes No Yes Yes Yes
Web Platform
Yes Yes Yes Yes Yes
Paper Trading
Yes Yes No No No
Trade Journal
Yes No Yes Yes No
Watch Lists - Total Fields
514 335 91 125 285
Heat Mapping
Yes No Yes Yes Yes
AI Assistant Bot
Yes No Yes No No
Platforms & Tools 5 5 4.5 4.5 4
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Charting Features

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Charting - Trade Off Chart
Yes Yes Yes Yes Yes
Charting - Indicators / Studies
489 285 166 41 100
Charting - Drawing Tools
22 23 22 15 22
Charting - Historical Trades
Yes Yes Yes No Yes
Charting - Corporate Events
Yes No Yes Yes Yes
Charting - Automated Analysis
Yes No Yes Yes Yes
Charting - Save Profiles
Yes Yes Yes Yes Yes
Charting - Study Customizations
9 12 5 7 8
Charting - Custom Studies
Yes Yes No No No
Platforms & Tools 5 5 4.5 4.5 4
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Day Trading

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Stock Alerts - Basic Fields
Yes Yes Yes Yes Yes
Stock Alerts - Advanced Fields
Yes Yes Yes Yes Yes
Streaming Time & Sales
Yes Yes No Yes Yes
Streaming TV
Yes No Yes Yes No
Direct Market Routing - Stocks
Yes Yes Yes Yes No
Direct Market Routing - Options
Yes Yes Yes No No
Ladder Trading
Yes Yes No No No
Trade Hot Keys
Yes Yes Yes Yes Yes
Level 2 Quotes - Stocks
Yes Yes Yes Yes Yes
Level 2 Quotes - Options
Yes Yes Yes Yes Yes
Trade Ideas - Backtesting
Yes Yes No Yes Yes
Short Locator
No Yes Yes No No
Order Liquidity Rebates
No Yes No No No
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Mobile Trading Apps

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
iPhone App
Yes Yes Yes Yes Yes
Android App
Yes Yes Yes Yes Yes
Apple Watch App
Yes No Yes Yes Yes
Trading - Stocks
Yes Yes Yes Yes Yes
Trading - After-Hours
Yes Yes Yes Yes Yes
Trading - Conditional Orders
Yes Yes No No No
Trading - Mutual Funds
No No Yes Yes Yes
Trading - Simple Options
Yes Yes Yes Yes Yes
Trading - Complex Options
Yes Yes Yes Yes Yes
Trading - Option Rolling
Yes No No No No
Touch / Face ID
Yes Yes Yes Yes Yes
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Mobile App Features

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Watch List Syncing
Yes Yes Yes Yes Yes
Stock Alerts
Yes Yes Yes No Yes
Charting - After Hours
Yes Yes Yes No Yes
Charting - Drawing
Yes Yes No No Yes
Charting - Study Customizations
Yes Yes Yes Yes Yes
Heatmapping
No No Yes Yes Yes
Stream Live TV
Yes No Yes Yes No
Barcode Lookup
Yes No No No No
Mobile Trading 5 4.5 5 4 4
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Research Overview

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Research - Stocks
Yes Yes Yes Yes Yes
Research - ETFs
Yes Yes Yes Yes Yes
Research - Mutual Funds
Yes No Yes Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes Yes Yes Yes
Research - Fixed Income
Yes No Yes Yes Yes
Screener - Stocks
Yes Yes Yes Yes Yes
Screener - ETFs
Yes No Yes Yes Yes
Screener - Mutual Funds
Yes No Yes Yes Yes
Screener - Options
Yes Yes Yes Yes Yes
Screener - Bonds
Yes No Yes Yes Yes
Misc - Portfolio Builder
Yes No Yes Yes Yes
Misc - Portfolio Allocation
Yes No Yes Yes Yes
Research 5 2 5 5 4.5
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Stock Research

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Stock Research - Reports
7 0 16 8 3
Stock Research - Earnings
Yes No Yes Yes Yes
Stock Research - Insiders
Yes No Yes Yes Yes
Stock Research - Metric Comp
Yes No Yes Yes Yes
Stock Research - SEC Filings
Yes No Yes Yes Yes
Stock Research - Social
Yes No Yes Yes No
Stock Research - Balance Sheet
Yes No Yes Yes Yes
Stock Research - Cash Flows
Yes No Yes Yes Yes
Stock Research - News
Yes Yes Yes Yes Yes
Stock Research - ESG
No No Yes No Yes
Research 5 2 5 5 4.5
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ETF Research

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
ETFs - Strategy Overview
Yes No Yes Yes Yes
ETFs - Top 10 Holdings
Yes No Yes Yes Yes
ETFs - Sector Exposure
Yes No Yes Yes Yes
ETFs - Risk Analysis
Yes No Yes Yes Yes
ETFs - Performance Analysis
Yes No Yes Yes Yes
ETFs - Ratings
Yes No Yes Yes Yes
ETFs - Morningstar StyleMap
Yes No Yes Yes Yes
ETFs - Reports
Yes No Yes Yes Yes
Research 5 2 5 5 4.5
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Mutual Fund Research

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Mutual Funds - Strategy Overview
Yes No Yes Yes Yes
Mutual Funds - Prospectus
Yes No Yes Yes Yes
Mutual Funds - Reports
Yes No No Yes Yes
Mutual Funds - Fees Breakdown
Yes No Yes Yes Yes
Mutual Funds - Top 10 Holdings
Yes No Yes Yes Yes
Mutual Funds - Asset Allocation
Yes No Yes Yes Yes
Mutual Funds - Sector Allocation
Yes No Yes Yes Yes
Mutual Funds - Country Allocation
No No Yes Yes Yes
Mutual Funds - StyleMap
Yes No Yes Yes Yes
Mutual Funds - 3rd Party Ratings
Yes No Yes Yes Yes
Research 5 2 5 5 4.5
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Options Trading

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Option Chains - Streaming
Yes Yes Yes Yes Yes
Option Chains - Total Columns
33 32 26 44 69
Option Chains - Greeks
5 5 5 5 5
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 Yes
Option Positions - Grouping
Yes Yes Yes Yes Yes
Platforms & Tools 5 5 4.5 4.5 4
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Beginners

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Education (Stocks)
Yes Yes Yes Yes Yes
Education (ETFs)
Yes No Yes Yes Yes
Education (Options)
Yes Yes Yes Yes Yes
Education (Mutual Funds)
Yes No Yes Yes Yes
Education (Fixed Income)
Yes No Yes Yes Yes
Education (Retirement)
Yes No Yes Yes Yes
Paper Trading
Yes Yes No No No
Videos
Yes Yes Yes Yes Yes
Webinars (Monthly Avg)
500 0 8 50 0
Webinars (Archived)
Yes Yes Yes Yes No
Live Seminars
Yes Yes Yes Yes Yes
Progress Tracking
Yes No Yes No Yes
Interactive Learning - Quizzes
Yes No Yes No Yes
Investor Magazine
Yes Yes Yes Yes Yes
Education 5 2.5 5 4.5 4.5
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Banking

Feature TD Ameritrade TradeStation Fidelity Charles Schwab Merrill Edge
Retail Locations
284 0 197 357 4300
Member FDIC
No No No Yes Yes
Checking Accounts
Yes No Yes Yes Yes
Savings Accounts
No No Yes Yes Yes
Credit Cards
Yes No Yes Yes Yes
Debit Cards
Yes No Yes Yes Yes
Mortgage Loans
No No No Yes Yes
No Fee Banking
Yes No Yes Yes No
Banking 3 0.5 4 4.5 5
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Overall



All pricing data was obtained from a published web site as of 01/20/2020 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.

TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

1$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody Solutions® are subject to different commission schedules.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.

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