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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.

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Overall Rating

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Overall 4 4.5 3.5 3.5 2.5
Interactive Brokers Review TD Ameritrade Review TradeStation Review Firstrade Review Lightspeed Review

Trading Fees

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Minimum Deposit $0.00 $0.00 $500.00 $0.00 $10,000.00
Stock Trade Fee (per trade) N/A $6.95 $5.00 $0.00 $4.50
ETF Trade Fee $0.01 $6.95 $5.00 $0.00 $4.50
Options Base Fee $0.00 $6.95 $5.00 $0.00 $0.00
Options Per Contract Fee $0.70 $0.75 $0.50 $0.00 $0.60
Mutual Fund Trade Fee $14.95 $49.99 $14.95 $0.00 N/A
Broker Assisted Trades Fee $30.00 $44.99 $50.00 $19.95 $25.00
Commissions & Fees 4.5 3.5 3.5 4 3
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Margin Rates

Feature Interactive Brokers
Open Account
TD Ameritrade
Open Account
TradeStation
Open Account
Firstrade
Open Account
Lightspeed
Under $24,999.99 3.68% 10.25% 9.25% 9.50% 8.50%
$25,000.00 to $49,999.99 3.68% 10.00% 9.25% 9.00% 8.50%
$50,000.00 to $99,999.99 3.68% 9.00% 8.50% 8.50% 7.50%
$100,000.00 to $249,999.99 3.18% 8.75% 8.50% 8.00% 7.50%
$250,000.00 to $499,999.99 3.18% 8.50% 8.50% 7.75% 6.75%
$500,000.00 to $999,999.99 3.18% 8.50% 5.25% 6.00% 6.25%
Above $1,000,000.00 2.68% 7.75% 5.25% 5.25% 6.00%
Commissions & Fees 4.5 3.5 3.5 4 3
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Account Fees

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
IRA Annual Fee $0.00 $0.00 $35.00 $0.00 $35.00
IRA Closure Fee $0.00 $0.00 $50.00 $0.00 $95.00
Returned ACH Fee N/A $25.00 $25.00 $50.00 $30.00
Returned Wire Fee N/A $25.00 $25.00 $50.00 $30.00
Stock Certificate Processing Fee N/A $0.00 $150.00 $300.00 $75.00
Stock Certificate Delivery Fee N/A $500.00 $15.00 $300.00 $50.00
Paper Statement Fee N/A $0.00 $1.00 $5.00 $5.00
Paper Confirmation Fee N/A $0.00 $1.00 $3.00 $2.00
Domestic Wire Fee $10.00 $25.00 $25.00 $30.00 $20.00
International Wire Fee $10.00 $25.00 $35.00 $50.00 $50.00
Commissions & Fees 4.5 3.5 3.5 4 3

Investment Options

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
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
8 4 4 2 6
Futures Trading
Yes Yes Yes No Yes
Forex Trading
No Yes No No No
Commission-Free ETFs 48 571 0 all 0
Mutual Funds (No Load)
7558 5185 887 5234 0
Mutual Funds (Total)
11000 12418 4357 12603 0
Bonds (US Treasury)
Yes Yes Yes Yes Yes
Bonds (Corporate)
Yes Yes Yes Yes No
Bonds (Municipal)
Yes Yes Yes Yes No
Advisor Services
No Yes No No No
International Trading
Yes Yes No No No
Offering of Investments 5 4.5 4 3.5 3
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Order Types

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
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 Yes
Order Type - MultiContingent
Yes Yes Yes Yes Yes
Order Type - OCO
Yes Yes Yes Yes Yes
Order Type - OTO
Yes Yes Yes Yes Yes
Order Type - OTOCO
Yes Yes Yes No Yes
Offering of Investments 5 4.5 4 3.5 3
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Trading Platforms

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Desktop Platform (Windows)
Yes Yes Yes No Yes
Desktop Platform (Mac)
Yes Yes No No Yes
Web Platform
Yes Yes Yes Yes Yes
Paper Trading
Yes Yes Yes No Yes
Trade Journal
Yes Yes No No No
Watch Lists - Total Fields
453 514 335 13 141
Two-Factor Authentication Login
Yes Yes Yes No Yes
Heat Mapping
Yes Yes No Yes No
Platforms & Tools 4.5 5 4.5 2 3
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Charting Features

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Charting - Trade Off Chart
Yes Yes Yes No Yes
Charting - Indicators / Studies
121 411 282 58 20
Charting - Drawing Tools
9 22 23 5 8
Charting - Historical Trades
Yes Yes Yes No Yes
Charting - Corporate Events
Yes Yes No Yes No
Charting - Automated Analysis
No Yes No No No
Charting - Save Profiles
Yes Yes Yes No Yes
Charting - Study Customizations
6 9 12 6 4
Charting - Custom Studies
No Yes Yes No No
Platforms & Tools 4.5 5 4.5 2 3
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Day Trading

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Stock Alerts - Basic Fields
Yes Yes Yes Yes Yes
Stock Alerts - Advanced Fields
No Yes Yes No No
Streaming Time & Sales
Yes Yes Yes No Yes
Streaming TV
Yes Yes No No No
Direct Market Routing - Stocks
Yes Yes Yes No Yes
Direct Market Routing - Options
Yes Yes Yes No Yes
Ladder Trading
Yes Yes Yes No No
Trade Hot Keys
Yes Yes Yes No Yes
Level 2 Quotes - Stocks
Yes Yes Yes No Yes
Level 2 Quotes - Options
Yes Yes Yes No Yes
Trade Ideas - Backtesting
Yes Yes Yes No No
Short Locator
Yes No Yes No Yes
Client Liquidity Rebates
Yes No Yes No Yes
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Mobile Trading Apps

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
iPhone App
Yes Yes Yes Yes Yes
Android App
Yes Yes Yes Yes Yes
Apple Watch App
Yes Yes No No No
Trading - Stocks
Yes Yes Yes Yes Yes
Trading - After-Hours
Yes Yes Yes Yes No
Trading - Conditional Orders
Yes Yes Yes No No
Trading - Mutual Funds
Yes No No No No
Trading - Simple Options
Yes Yes Yes Yes No
Trading - Complex Options
Yes Yes Yes No No
Trading - Option Rolling
No Yes No No No
Touch / Face ID
Yes Yes Yes Yes No
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Mobile App Features

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Watch List Syncing
Yes Yes Yes Yes No
Stock Alerts - Basic Fields
Yes Yes Yes No No
Stock Alerts - Advanced Fields
No No No No No
Charting - After Hours
Yes Yes Yes No No
Charting - Drawing
No Yes Yes No No
Charting - Study Customizations
Yes Yes Yes Yes No
Customizable Homescreen
No No No No No
Heatmapping
No No No No No
Stream Live TV
Yes Yes No No No
Barcode Lookup
No Yes No No No
Mobile Trading 4.5 4.5 4.5 3.5 1.5
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Research Overview

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Research - Stocks
Yes Yes Yes Yes Yes
Research - ETFs
Yes Yes Yes Yes No
Research - Mutual Funds
No Yes No Yes No
Research - Pink Sheets / OTCBB
Yes Yes Yes Yes No
Research - Fixed Income
Yes Yes No Yes No
Research - Futures
Yes Yes Yes No No
Research - Forex
Yes Yes Yes No No
Screener - Stocks
Yes Yes Yes Yes Yes
Screener - ETFs
Yes Yes No Yes No
Screener - Mutual Funds
No Yes No Yes No
Screener - Options
Yes Yes Yes No No
Screener - Bonds
Yes Yes No Yes No
Misc - Portfolio Builder
Yes Yes No No No
Misc - Portfolio Allocation
Yes Yes No Yes No
Research 3.5 5 1.5 4 1
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Stock Research

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Stock Research - Reports
1 7 0 1 0
Stock Research - Earnings
Yes Yes No Yes No
Stock Research - Insiders
Yes Yes No Yes Yes
Stock Research - Metric Comp
Yes Yes No Yes No
Stock Research - SEC Filings
Yes Yes No Yes No
Stock Research - Social
Yes Yes No No Yes
Stock Research - Balance Sheet
Yes Yes No Yes No
Stock Research - Cash Flows
Yes Yes No Yes No
Stock Research - News
Yes Yes Yes Yes Yes
Stock Research - ESG
Yes No No No No
Research 3.5 5 1.5 4 1
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ETF Research

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
ETFs - Strategy Overview
Yes Yes No Yes No
ETFs - Top 10 Holdings
Yes Yes No Yes No
ETFs - Sector Exposure
Yes Yes No Yes No
ETFs - Risk Analysis
Yes Yes No Yes No
ETFs - Performance Analysis
Yes Yes No Yes No
ETFs - Ratings
Yes Yes No Yes No
ETFs - Morningstar StyleMap
No Yes No Yes No
ETFs - Reports
Yes Yes No Yes No
Research 3.5 5 1.5 4 1
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Mutual Fund Research

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Mutual Funds - Strategy Overview
No Yes No Yes No
Mutual Funds - Prospectus
Yes Yes No Yes No
Mutual Funds - Reports
Yes Yes No No No
Mutual Funds - Fees Breakdown
Yes Yes No Yes No
Mutual Funds - Top 10 Holdings
No Yes No Yes No
Mutual Funds - Asset Allocation
No Yes No Yes No
Mutual Funds - Sector Allocation
No Yes No Yes No
Mutual Funds - Country Allocation
No No No Yes No
Mutual Funds - StyleMap
No Yes No Yes No
Mutual Funds - 3rd Party Ratings
No Yes No Yes No
Research 3.5 5 1.5 4 1
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Options Trading

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Option Chains - Streaming
Yes Yes Yes No Yes
Option Chains - Total Columns
37 33 32 8 60
Option Chains - Greeks
4 5 5 5 5
Option Chains - Quick Analysis
Yes Yes Yes No Yes
Option Analysis - P&L Charts
Yes Yes Yes No Yes
Option Probability Analysis
Yes Yes Yes No No
Option Probability Analysis Adv
Yes Yes Yes No No
Option Positions - Greeks
Yes Yes Yes No Yes
Option Positions - Adv Analysis
Yes Yes Yes No No
Option Positions - Rolling
Yes Yes Yes Yes Yes
Option Positions - Grouping
Yes Yes Yes No Yes
Platforms & Tools 4.5 5 4.5 2 3
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Beginners

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Has Education - Stocks
Yes Yes Yes Yes Yes
Has Education - ETFs
No Yes No No No
Has Education - Options
Yes Yes Yes Yes Yes
Has Education - Mutual Funds
No Yes No No No
Has Education - Fixed Income
No Yes No No No
Has Education - Retirement
No Yes No Yes No
Paper Trading
Yes Yes Yes No Yes
Videos
Yes Yes Yes Yes Yes
Webinars (Monthly Avg)
20 500 30 5 1
Webinars (Archived)
Yes Yes Yes Yes Yes
Live Seminars
No Yes Yes No No
Progress Tracking
Yes Yes No No No
Interactive Learning - Quizzes
Yes Yes No No No
Investor Magazine
Yes Yes Yes No No
Education 3 5 3 3 2.5
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Banking

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Retail Locations
0 364 0 2 0
Member FDIC
No No No No No
Checking Accounts
Yes Yes No Yes No
Savings Accounts
No No No No No
Credit Cards
No Yes No No No
Debit Cards
Yes Yes No Yes No
Mortgage Loans
No No No No No
No Fee Banking
No Yes No No No
Banking 2 3 0.5 2 0.5
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Overall

Feature Interactive Brokers TD Ameritrade TradeStation Firstrade Lightspeed
Interactive Brokers Review TD Ameritrade Review TradeStation Review Firstrade Review Lightspeed Review
Overall 4 4.5 3.5 3.5 2.5
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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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