StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

Online Brokerage Comparison Tool

StockBrokers.com | August 21st, 2019

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.

Exclusive Offer Get 300 commission-free trades and 2 years to use them Open Account
Exclusive Offer Trade free for 90 days + get up to $600 Open Account
Promo Offer Spring into the market action with FREE trading until 2020 Open Account
Advertisement
Special Offer $4.95 online equity trades + $0.65 per options contract Open Account
Special Offer Invest in a new account and get up to $600 Open Account
Open Account Open Account Open Account Open Account Open Account

Overall Rating

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Overall 4.5 4.5 3.5 4 4
Fidelity Review TD Ameritrade Review TradeStation Review Charles Schwab Review Merrill Edge Review

Trading Fees

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Minimum Deposit $0.00 $0.00 $500.00 $0.00 $0.00
Stock Trade Fee (per trade) $4.95 $6.95 $5.00 $4.95 $6.95
ETF Trade Fee $4.95 $6.95 $5.00 $4.95 $6.95
Options Base Fee $4.95 $6.95 $5.00 $4.95 $6.95
Options Per Contract Fee $0.65 $0.75 $0.50 $0.65 $0.75
Mutual Fund Trade Fee $49.95 $49.99 $14.95 $49.95 $19.95
Broker Assisted Trades Fee $32.95 $44.99 $50.00 $25.00 $29.95
Commissions & Fees 4 3.5 3.5 3.5 4
Winner check_circle

Margin Rates

Feature Fidelity
Open Account
TD Ameritrade
Open Account
TradeStation
Open Account
Charles Schwab
Open Account
Merrill Edge
Open Account
Under $24,999.99 9.58% 10.25% 9.25% 9.58% 10.63%
$25,000.00 to $49,999.99 9.08% 10.00% 9.25% 9.08% 9.50%
$50,000.00 to $99,999.99 8.13% 9.00% 8.50% 8.13% 9.50%
$100,000.00 to $249,999.99 8.08% 8.75% 8.50% 8.08% 8.13%
$250,000.00 to $499,999.99 7.83% 8.50% 8.50% 7.83% 8.13%
$500,000.00 to $999,999.99 5.50% 8.50% 5.25% 6.58% 7.88%
Above $1,000,000.00 5.25% 7.75% 5.25% 6.25% 7.25%
Commissions & Fees 4 3.5 3.5 3.5 4
Winner check_circle

Account Fees

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
IRA Annual Fee $0.00 $0.00 $35.00 $0.00 $0.00
IRA Closure Fee $0.00 $0.00 $50.00 $50.00 $49.95
Returned ACH Fee $0.00 $25.00 $25.00 $25.00 $30.00
Returned Wire Fee $0.00 $25.00 $25.00 $25.00 N/A
Stock Certificate Processing Fee $0.00 $0.00 $150.00 $100.00 $500.00
Stock Certificate Delivery Fee $100.00 $500.00 $15.00 N/A N/A
Paper Statement Fee $0.00 $0.00 $1.00 $0.00 $5.00
Paper Confirmation Fee $0.00 $0.00 $1.00 $0.00 $3.00
Domestic Wire Fee $0.00 $25.00 $25.00 $25.00 $24.95
International Wire Fee $0.00 $25.00 $35.00 $25.00 $24.95
Commissions & Fees 4 3.5 3.5 3.5 4

Investment Options

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Stock Trading
Yes Yes Yes Yes Yes
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
No Yes Yes Yes No
Forex Trading
No Yes No No No
Commission-Free ETFs 500 571 0 503 0
Mutual Funds (No Load)
4031 5185 887 5846 2471
Mutual Funds (Total)
11782 12418 4357 5846 3709
Bonds (US Treasury)
Yes Yes Yes Yes Yes
Bonds (Corporate)
Yes Yes Yes Yes Yes
Bonds (Municipal)
Yes Yes Yes Yes Yes
Advisor Services
Yes Yes No Yes Yes
International Trading
Yes Yes No Yes No
Offering of Investments 4.5 4.5 4 4.5 3
Winner check_circle

Order Types

Feature Fidelity TD Ameritrade TradeStation 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 4.5 3
Winner check_circle

Trading Platforms

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Desktop Platform (Windows)
Yes Yes Yes Yes Yes
Desktop Platform (Mac)
Yes Yes No Yes Yes
Web Platform
Yes Yes Yes Yes Yes
Paper Trading
No Yes Yes No No
Trade Journal
Yes Yes No Yes No
Watch Lists - Total Fields
91 514 335 108 285
Two-Factor Authentication Login
Yes Yes Yes Yes Yes
Heat Mapping
Yes Yes No Yes Yes
Platforms & Tools 4.5 5 4.5 4.5 4
Winner check_circle

Charting Features

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Charting - Trade Off Chart
Yes Yes Yes Yes Yes
Charting - Indicators / Studies
166 411 282 41 95
Charting - Drawing Tools
22 22 23 15 22
Charting - Historical Trades
Yes Yes Yes No Yes
Charting - Corporate Events
Yes Yes No Yes Yes
Charting - Automated Analysis
Yes Yes No Yes Yes
Charting - Save Profiles
Yes Yes Yes Yes Yes
Charting - Study Customizations
5 9 12 6 8
Charting - Custom Studies
No Yes Yes No No
Platforms & Tools 4.5 5 4.5 4.5 4
Winner check_circle

Day Trading

Feature Fidelity TD Ameritrade TradeStation 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 Yes Yes Yes
Streaming TV
Yes Yes No Yes No
Direct Market Routing - Stocks
Yes Yes Yes Yes No
Direct Market Routing - Options
Yes Yes Yes No No
Ladder Trading
No Yes Yes 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 Yes Yes Yes
Short Locator
Yes No Yes No No
Client Liquidity Rebates
No No Yes No No
Winner check_circle

Mobile Trading Apps

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

Mobile App Features

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Watch List Syncing
Yes Yes Yes Yes Yes
Stock Alerts - Basic Fields
Yes Yes Yes No Yes
Stock Alerts - Advanced Fields
Yes No No No No
Charting - After Hours
Yes Yes Yes No Yes
Charting - Drawing
No Yes Yes No Yes
Charting - Study Customizations
Yes Yes Yes Yes Yes
Customizable Homescreen
Yes No No No Yes
Heatmapping
Yes No No Yes Yes
Stream Live TV
Yes Yes No Yes No
Barcode Lookup
No Yes No No No
Mobile Trading 4.5 4.5 4.5 4 4.5
Winner check_circle

Research Overview

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Research - Stocks
Yes Yes Yes Yes Yes
Research - ETFs
Yes Yes Yes Yes Yes
Research - Mutual Funds
Yes Yes No Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes Yes Yes Yes
Research - Fixed Income
Yes Yes No Yes Yes
Research - Futures
Yes Yes Yes Yes No
Research - Forex
No Yes Yes No No
Screener - Stocks
Yes Yes Yes Yes Yes
Screener - ETFs
Yes Yes No Yes Yes
Screener - Mutual Funds
Yes Yes No Yes Yes
Screener - Options
Yes Yes Yes Yes Yes
Screener - Bonds
Yes Yes No Yes Yes
Misc - Portfolio Builder
Yes Yes No Yes Yes
Misc - Portfolio Allocation
Yes Yes No Yes Yes
Research 5 5 1.5 5 4.5
Winner check_circle

Stock Research

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Stock Research - Reports
12 7 0 8 3
Stock Research - Earnings
Yes Yes No Yes Yes
Stock Research - Insiders
Yes Yes No Yes Yes
Stock Research - Metric Comp
Yes Yes No Yes Yes
Stock Research - SEC Filings
Yes Yes No Yes Yes
Stock Research - Social
Yes Yes No Yes No
Stock Research - Balance Sheet
Yes Yes No Yes Yes
Stock Research - Cash Flows
Yes Yes No Yes Yes
Stock Research - News
Yes Yes Yes Yes Yes
Stock Research - ESG
Yes No No No Yes
Research 5 5 1.5 5 4.5
Winner check_circle

ETF Research

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
ETFs - Strategy Overview
Yes Yes No Yes Yes
ETFs - Top 10 Holdings
Yes Yes No Yes Yes
ETFs - Sector Exposure
Yes Yes No Yes Yes
ETFs - Risk Analysis
Yes Yes No Yes Yes
ETFs - Performance Analysis
Yes Yes No Yes Yes
ETFs - Ratings
Yes Yes No Yes Yes
ETFs - Morningstar StyleMap
Yes Yes No Yes Yes
ETFs - Reports
Yes Yes No Yes Yes
Research 5 5 1.5 5 4.5
Winner check_circle

Mutual Fund Research

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Mutual Funds - Strategy Overview
Yes Yes No Yes Yes
Mutual Funds - Prospectus
Yes Yes No Yes Yes
Mutual Funds - Reports
No Yes No Yes Yes
Mutual Funds - Fees Breakdown
Yes Yes No Yes Yes
Mutual Funds - Top 10 Holdings
Yes Yes No Yes Yes
Mutual Funds - Asset Allocation
Yes Yes No Yes Yes
Mutual Funds - Sector Allocation
Yes Yes No Yes Yes
Mutual Funds - Country Allocation
Yes No No Yes Yes
Mutual Funds - StyleMap
Yes Yes No Yes Yes
Mutual Funds - 3rd Party Ratings
Yes Yes No Yes Yes
Research 5 5 1.5 5 4.5
Winner check_circle

Options Trading

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Option Chains - Streaming
Yes Yes Yes Yes Yes
Option Chains - Total Columns
26 33 32 41 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 No
Option Positions - Grouping
Yes Yes Yes Yes Yes
Platforms & Tools 4.5 5 4.5 4.5 4
Winner check_circle

Beginners

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Has Education - Stocks
Yes Yes Yes Yes Yes
Has Education - ETFs
Yes Yes No Yes Yes
Has Education - Options
Yes Yes Yes Yes Yes
Has Education - Mutual Funds
Yes Yes No Yes Yes
Has Education - Fixed Income
Yes Yes No Yes Yes
Has Education - Retirement
Yes Yes No Yes Yes
Paper Trading
No Yes Yes No No
Videos
Yes Yes Yes Yes Yes
Webinars (Monthly Avg)
8 500 30 50 0
Webinars (Archived)
Yes Yes Yes Yes No
Live Seminars
Yes Yes Yes Yes Yes
Progress Tracking
Yes Yes No No No
Interactive Learning - Quizzes
Yes Yes No No Yes
Investor Magazine
Yes Yes Yes Yes Yes
Education 5 5 3 4.5 4.5
Winner check_circle

Banking

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Retail Locations
197 364 0 357 4400
Member FDIC
No No No Yes Yes
Checking Accounts
Yes Yes No Yes Yes
Savings Accounts
Yes No No Yes Yes
Credit Cards
Yes Yes No Yes Yes
Debit Cards
Yes Yes No Yes Yes
Mortgage Loans
No No No Yes Yes
No Fee Banking
Yes Yes No Yes No
Banking 4 3 0.5 4.5 5
Winner check_circle

Overall

Feature Fidelity TD Ameritrade TradeStation Charles Schwab Merrill Edge
Fidelity Review TD Ameritrade Review TradeStation Review Charles Schwab Review Merrill Edge Review
Overall 4.5 4.5 3.5 4 4
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.

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

arrow_drop_upBack to top