Fidelity Go, which has a hybrid tier, was a close second among hybrid advisers. Most online brokers will let you open an account for free since they only make money once you start trading. However, some will require a minimum investment ranging anywhere from $100 up to $1,000 or more. When you’re shopping around for brokerage accounts, it’s important to compare minimum customer retention solution deposit requirements, especially if you don’t have much money to invest.

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Investing in index funds is a good way to do this and is a pretty easy https://www.xcritical.com/ strategy for beginners. Be sure to read online reviews to get a sense of a broker’s reputation and what the typical customer experience is like. It’s also a good idea to ask friends and family members for recommendations.

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There are tons of investment assets to choose from, and the broker offers low margin rates. Lightspeed is all about active traders who can deliver volume to the broker, and so everything is optimized around making the experience the best for them. That means discounted prices for high-volume trades and multiple high-power trading platforms, but it also means no concern for eliminating the nickel-and-dime Non-fungible token costs that other brokers routinely slash. Merrill Edge offers a solid brokerage experience with access to top-notch research and an advanced trading platform that may especially appeal to current Bank of America customers. WellsTrade offers a basic trading experience that may appeal to investors who bank with Wells Fargo, but more active traders may be disappointed by the bare bones approach. TD Ameritrade still offers strong platforms and a range of research for its clients, making it a very solid pick for more advanced traders, even as it is about to merge with Charles Schwab.

Bottom Line on Brokers With Customer Service

Blain has been quoted in The New York Times, The Wall Street Journal, Forbes, and Fast Company, among others. Blain created the original scoring rubrics for StockBrokers.com and oversees all testing and rating methodologies. With international markets picking up, investors might be interested to learn that Interactive offers direct access to markets in 34 countries and territories.

Interactive Brokers reported especially robust fund screeners, with a market-leading 275 factors for ETFs, as well as 133 factors for mutual funds. But it doesn’t offer some more basic tools, such as a calculator for required minimum distributions from a retirement account, or a budgeting planner. And just like last year, we analyzed only the free and most basic level of each brokerage’s service. But investors should note that many brokerages, including Interactive Brokers and Schwab, also offer free platforms for active or professional traders with more sophisticated bells and whistles. Find the best online brokers using our survey that compares investment offerings, tools, apps, advice and more.

Whether you’re a first-time investor or a seasoned pro looking for a new trading platform, many worthwhile options exist. To help you choose the right online broker, we’ve analyzed more than 20 of the most popular online brokers to help you with your selection. SoFi Active Investing provides commission-free trading on stocks, ETFs and options, and its fractional shares offering should appeal to new investors. An online broker is a financial institution that allows you to purchase securities, including stocks, through an online platform.

The top brokers for customer service improve the overall trading experience – reducing stress and solving issues swiftly. Leading firms should provide multiple contact methods and are available most of the time. Use our comparison guide to find the right swing trading platform for you. The best brokers for customer service will provide 24/7 support, allowing you to get in contact whenever an issue occurs. Other platforms may limit their opening times to set hours during the day or restrict it to weekdays.

You can create custom strategies, watchlists and charts, with desktop, web and mobile versions available. If you’re interested in futures trading, TradeStation offers a dedicated platform. Many Webull customers appreciate its excellent charting functionality and range of educational materials. However, there are criticisms about lags in trading execution, difficulty withdrawing funds and poor customer support. Schwab is one of the few brokerages on our list with physical branches that offer in-person customer service.

The top online brokers offer multiple contact methods, languages and reliable opening hours through an efficient team. In this tutorial, we explain why you should choose a broker with good customer service and the different support channels available. Interactive Brokers is an ideal choice for investors focused on keeping costs to a minimum. Active traders using the Pro platform will pay $1 minimum commission (or a half-cent per share above 200 shares), while users in the Lite tier won’t pay commission on stocks or ETFs.

• Though many customers appreciate IBKR’s range of investment products and advanced trading tools, a significant number of users report challenges with account setup and customer service.
• None of the brokers on our list are full-service brokers; they are all discount online brokerage firms.
• Most other fees can be sidestepped by simply choosing a broker that doesn’t charge them, or by opting out of services that cost extra.
• You desperately need to get into your account to close these trades or you risk losing your capital.

On the positive side, many users appreciate Robinhood’s user-friendly interface, which makes trading accessible to beginners. Conversely, many users have criticized Robinhood’s customer service, which can involve long hold times, delays in responses and multiple steps before an issue is resolved. Some users appreciate the platform and app’s ease of use, while others are dissatisfied by the user interface and frequent app updates. Some users also expressed frustration with customer service hold times and a lack of transparency related to policy changes. Fidelity is one of the few brokers on our list with branches that offer in-person customer support. If you enroll additional accounts at a later date, you can still take advantage of any remaining fee-waiver period.

Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our editorial team does not receive direct compensation from our advertisers. This way, they will have the knowledge base to solve any issues that may occur, or they will at least know the right specialist to transfer you to. This may seem like a hard metric to measure without dealing with the team.

Your money is indeed insured but only against the unlikely event a brokerage firm or investment company fails. SIPC insurance covers up to $500,000 for lost or missing assets; within that, $250,000 can be applied to cash that is not yet invested. Your account choices boil down to a taxable brokerage account or a tax-favored retirement account, such as an IRA. Retirement accounts are intended for retirement, and there can be penalties if you take your money out too early.

The best brokers have a positive team who know the brokerage inside and out, available 24/7 to help you. When looking for a broker, check our comparison guide to ensure you make the right choice. Blain Reinkensmeyer, co-founder of StockBrokers.com, has been investing and trading for over 25 years. After having placed over 2,000 trades in his late teens and early 20s, he became one of the first in digital media to review online brokerages. Today, Blain is widely respected as a leading expert on finance and investing, specifically the U.S. online brokerage industry.

You’ll get started by creating and funding your account and then choosing your investments. Charles Schwab is a great all-around broker, whether you’re just getting started investing or are more advanced, and it can bring the heat on almost anything you’re likely to need. Add on strong customer support, a wide investment selection, no-commission mutual funds, along with tons of research, and you have the makings of a five-star broker.

And all of the three offer preset screens for popular searches to help you quickly search for dividend-paying stocks, for example, or companies trading at discounts compared with their peers. Schwab and Fidelity offer plenty of investing education articles, videos and podcasts. Trailing in the investment choices category is Ally, which does not offer fractional trading, certificates of deposit (CDs), automated investing or much interest on cash accounts. If you want access to all types of investing, then E-Trade can give you that, with the ability to trade stocks, bonds, options, ETFs, mutual funds and futures. You’ll also be able to buy more than 6,000 mutual funds with no transaction fee. Though the best online brokers charge low fees, you’ll likely be responsible for covering certain costs as you invest.