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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. | |
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| 3 | List of popular us stock brokers: | |
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| 5 | - | Robinhood |
| 5 | + | |
| 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. |
| 6 | + | |
| 7 | One of the oldest and largest broker. FDIC/SIPC. | |
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| 9 | TastyWorks | |
| 10 | >Super cheap options commission. SIPC, no FDIC. | |
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| 11 | + | |
| 12 | - | Schwab |
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| 13 | >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. | |
| 14 | - | One of the oldest and largest broker. FDIC/SIPC |
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| 16 | - | Interactive Brokers |
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| 17 | 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. |
