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a guest Oct 17th, 2019 1,138 Never
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  1. Brokers have now entered the 0 fee war. Robinhood started the trend then other established brokers reacted and now offer 0 fee trading. They will make money by selling your orders to high frequency traders. Execution of your orders will not be as good and they hope you will trade more often.
  2.  
  3. List of popular us stock brokers:
  4.  
  5. Robinhood
  6. >0 fee trading. SIPC, not FDIC-insured. To stay competitive against other brokers they now offer "cash management", a 2.05% APY interest on uninvested money in their account with the ability to spend it through a special Mastercard debit card. The money in the cash management program is FDIC insured. They can change the interest rate at any time.
  7.  
  8. Fidelity
  9. >0 fee trading.
  10. One of the oldest and largest broker. FDIC/SIPC.
  11.  
  12. Schwab
  13. >0 fee trading.
  14. One of the oldest and largest broker. FDIC/SIPC
  15.  
  16. Interactive Brokers
  17. >0 fee trading.
  18. It was the cheapest broker for active traders before the no fee war. Ibkr lite is 0 fee. Ibkr pro is $1 per trade and it costs you 10$/month of inactivity fees (whether you make 0 trade or 10 trades per month it will cost you 10$) Lowest margin interest. Free API access. FDIC/SIPC.
  19.  
  20. TD Ameritrade
  21. >0 fee trading. Fantastic data/charting through their free ThinkorSwim service.
  22. One of the oldest and largest broker. FDIC/SIPC
  23.  
  24. E*trade
  25. >0 fee trading.
  26. One of the oldest and largest broker. FDIC/SIPC
  27.  
  28. Tradestation
  29. >0 fee trading. SIPC, No FDIC.
  30.  
  31. TastyWorks
  32. >Super cheap options commission. SIPC, no FDIC.
  33.  
  34. Degiro (Cheap broker for Europeans)
  35. >2nd cheapest platform for Europeans, they announced an increase of their commission fees. Very quick registration process. But beware if they go bankrupt you may lose your cash balance they are not insured like other brokers. It seems they have €20k protection.
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  39. If you don't live in the USA but want to trade or invest in US stocks, check which of those brokers accept residents of your country. If none of them accept residents of your country, do extensive research to find a reputable broker and what would happen to your cash balance sitting in their account if they go bankrupt.
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