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Mar 25th, 2021
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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. It is possible for Europeans to use certain American brokers and your only way to get into options.
  2.  
  3. US 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.  
  35. European Brokers:
  36.  
  37. Degiro/Flatex
  38. >Common brokers for Europeans, now under one roof. Degiro has a quick registration process.
  39.  
  40. eToro
  41. >Also trades crypto
  42.  
  43. ---------------
  44.  
  45. If you don't live in the USA but want to trade or invest in US stocks, check which of those brokers accepts 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.
  46.  
  47. Europeans, as of 2021, can decide between Interacive Brokers and Tastyworks, if they want to use an American broker.
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