Best Online Brokers List: These 4 Brokerages Top Their Peers (2024)

• News

The past year has delivered an unprecedented series of interest rate hikes and surprising stock market strength. Did the best online stock brokers help their customers make the most of it or could they have done more?

X

Our customer-driven rankings of the IBD Best Online Brokers for 2024 can help you decide. In our 12th annual survey, Investor's Business Daily and polling partner TechnoMetrica Market Intelligence asked thousands of investors to rate their online broker.

Out of eight major brokers included in the survey analysis, we recognize four as the best online brokers overall. We also recognize the top four brokers in 20 key performance categories that investors deemed important.

The fab four at the top of this year's survey are Ally Invest, Fidelity Investments, Charles Schwab and Merrill Edge.

The other brokers that qualified for the survey analysis based on the number of their customers who provided ratings were E-Trade (part of Morgan Stanley (MS)), Vanguard, Interactive Brokers (IBKR) and Robinhood (HOOD).

See Also

How institutional investors should step up as owners4 Types of Institutional Investors

IBD's Best Online Brokers List for 2024 is objective and the results are based solely on the data from our extensive customer survey. This independent special report is produced by the IBD editorial team. There is no sponsored content, nor are there any commission links.

Read Our Full Special Report On The Best Online Brokers

Check the lists to see how your online broker compares with others in the areas that matter to you. If it doesn't stack up, consider whether another broker in the study would better meet your needs. And to learn more, read our Best Online Brokers overview story for this year's report.

Best Online Brokers 2024: Best Overall Customer Experience
Broker	Strengths
Ally Invest	Ally Invest, the brokerage arm of Ally Bank/Ally Financial (ALLY), leaped into the top group this year. Ally ranked at the top or very high for such attributes as website security, site performance, portfolio analysis, and incentives, discounts and pricing. Overall, Ally ranked at the top of 11 of our 20 attributes in this year's report, including categories customers said were of the greatest importance. Check out Ally's profile to learn more about its newest features.
Fidelity Investments	Fidelity earns a top spot on our Best Online Brokers list for the 12th consecutive year — that's every year IBD has conducted this survey. For 2024, Fidelity scored the highest among survey respondents who said they were "very satisfied" with their broker. Fidelity also ranks No. 1 in eight of the attribute qualities, including availability of account types, choices for cash management, and customer service. See our Fidelity profile for more information.
Charles Schwab	Charles Schwab (SCHW), another long-standing member of the IBD Best Online Brokers list, ranked highly in IBD's 2024 special report for customer service, educational resources, customer service, and trade execution speed and price. Highlights for Schwab in 2023 include the integrations of TD Ameritrade into its business, including the well-regarded Thinkorswim trading platform. Read more about Schwab in this year's profile.
Merrill Edge	Merrill's offerings for investment research and for portfolio analysis and reports are among the reasons it ranked highly in IBD's 12th annual Best Online Brokers survey. Merrill also was lauded in the categories of wealth management, trade ideas, and trade ideas in a down market. Merrill Edge Self-Directed is a personalized investing experience. Merrill is part of Bank of America (BAC). Check out Merrill's profile to learn more.

Top Brokers In 20 Key Performance Categories
Best Online Brokers: Website Security
Protects clients' assets and personal data with strong password and user ID features; technologies and procedures prevent unauthorized account access.
	Ally
	Fidelity
	Vanguard
	Merrill

Best Online Brokers: Trade Execution Speed & Price
Broker routes orders quickly to trading platforms and gets you the best price possible.
	Fidelity
	Charles Schwab
	Vanguard
	Interactive Brokers

Best Online Brokers: Site Performance
Provides fast access to website; always available when you log in. Site is easy to use and navigate.
	Ally
	Fidelity
	Merrill
	Charles Schwab

Best Online Brokers: Equity Trading Platform
Easy to set up buy and sell trades, gauge position size and how much your account is on margin.
	Fidelity
	Charles Schwab
	Ally
	E-Trade

Best Online Brokers: Customer Service
Responds to questions and requests in a way that serves your needs; may include phone, email, chat, online FAQs or automated AI-driven tools. Short wait times.
	Fidelity
	Charles Schwab
	Ally
	Merrill

Best Online Brokers: Research Tools
Offers screening tools and data that let you find stocks, bonds, ETFs or mutual funds based on earnings, sales, yield, duration, investing style, performance, ESG rating, social community lists, etc.
	Fidelity
	Charles Schwab
	Ally
	Merrill

Best Online Brokers: Investment Research
Offers information that helps you understand and select investments, such as analyst stock research reports, profit forecasts, buy and sell ratings, or research on ETFs, mutual funds, options, etc.
	Fidelity
	Merrill
	Ally
	Charles Schwab

Best Online Brokers: Portfolio Analysis & Reports
Provides tools and information for you to stay on top of your portfolio, such as monthly/quarterly reports that show gains and losses, asset allocation, and performance vs. the broad market.
	Ally
	Merrill
	Fidelity
	Charles Schwab

Best Online Brokers: Timely Information On Market Shifts
Provides information on trends driving stock market shifts.
	Ally
	Merrill
	Fidelity
	Charles Schwab

Best Online Brokers: Incentives/Discounts/Pricing
Broker may offer discounts, cash rewards or other incentives. Also considers various other fees that you may pay.
	Ally
	Vanguard
	Fidelity
	Charles Schwab

Best Online Brokers: Trade Ideas
Provides buy and sell ideas such as analyst recommendations, access to investor forums and watchlists.
	Ally
	Merrill
	Robinhood
	Fidelity

Best Online Brokers: Choices For Cash Management
Provides attractive interest-bearing vehicles to hold uninvested cash.
	Fidelity
	Vanguard
	Ally
	Robinhood

Best Online Brokers: Availability Of Account Types
Provides access to various types of accounts from which an investor can trade, such as Roth, 529s, Coverdell, UTMA, HSAs, charitable accounts, etc.
	Fidelity
	Vanguard
	Ally
	Charles Schwab

Best Online Brokers: Mobile Trading Platforms/Apps
Mobile website and apps provide a convenient way to conduct trades, perform research, track holdings and access news, with data security you trust.
	Robinhood
	Ally
	Fidelity
	Charles Schwab

Best Online Brokers: Coverage Of Pre-Market and After-Hours Trading
Allows investors to make trades on certain securities that are tradeable after hours.
	Ally
	Robinhood
	Interactive Brokers
	E-Trade

Best Online Brokers: Educational Resources
Assistance in learning how to invest via articles, tutorials, web tools, downloadable software, webinars and consultations with advisors or videos.
	Fidelity
	Charles Schwab
	Ally
	Merrill

Best Online Brokers: Key Inflation/Other Data
Helps investors stay up to date on and understand key market-influencing statistics.
	Ally
	Fidelity
	Charles Schwab
	Merrill

Best Online Brokers: Trade Ideas For A Down Market
Offers information and ideas that help investors select investments in a down market.
	Ally
	Merrill
	Fidelity
	Vanguard

Best Online Brokers: Options Trading Platform
Provides breadth of tools to find ideas, set up complex trades, test strategies, measure risk/reward and meet your educational needs.
	Ally
	Charles Schwab
	Interactive Brokers
	Robinhood

Best Online Brokers: Wealth Management
Investment advisory services, usually at an additional fee; may include creating investment portfolios, estate planning, tax, retirement and accounting services.
	Ally
	Merrill
	Fidelity
	Vanguard

Results are based on a two-phase study conducted by Investor's Business Daily and TechnoMetrica. For Phase 1, an online survey of 501 visitors to IBD's Investors.com website and a Barron's research panel between Aug. 31, 2023, and Oct. 23, 2023, was used to determine which online broker features and services investors consider most important. In phase 2, conducted from Oct. 12 to Nov. 20, 2023, 2,775 investors ranked their primary broker on the 20 attributes listed above.

Licensing & Reprints

The 2024 Best Online Brokers logo and accolades are available for licensing through IBD's partner, The YGS Group, at [emailprotected] or 800-290-5460.

YOU MAY ALSO LIKE:

Score An Easy $5,000 Just For Opening This Brokerage Account

Best Online Brokers: Great Service Still Matters Most In An AI-Fueled Investment World

How The Best Online Brokers Boost Your Cash Holdings

Best Online Brokers Survey: What It Takes To Make The Grade

Related news

Score An Easy $5,000 Just For Opening This Brokerage Account

1/25/2024How would you like $5,000 (or more) just for opening a brokerage account? That's just one of the offers up...

1/25/2024How would you like $5,000 (or more) just for opening...

• How The Best Online Brokers Boost Your Cash Holdings

• Ally Invest Is Growing Its Name Among The Best Online Brokers

• Best Online Brokers: Great Service Still Matters Most In An AI-Fueled Investment World

• Best Online Brokers Survey: What It Takes To Make The Grade

• Merrill Edge Wants To Inspire Success Stories

• Charles Schwab Boosts Its Online Brokerage With Big TD Ameritrade Deal

• Banks And Financial Stocks: Latest News And Analysis

• Ally Financial Clears Technical Benchmark, Hitting 90-Plus RS Rating

As an enthusiast and expert in the field of online brokerage and financial markets, my depth of knowledge allows me to provide comprehensive insights into the information presented in the article. I have a strong background in financial markets, investment strategies, and the functioning of online brokerage platforms. Let's dive into the key concepts and provide additional context to the information presented.

Key Concepts:

1. Interest Rate Hikes and Stock Market Strength:

   • The article mentions an unprecedented series of interest rate hikes and surprising stock market strength in the past year. Understanding the impact of interest rate changes on financial markets and how stock markets react to such developments is crucial. As an expert, I would analyze historical trends and economic indicators that influence interest rates and stock market performance.

2. IBD Best Online Brokers for 2024:

   • Investors Business Daily (IBD) and TechnoMetrica Market Intelligence conducted their 12th annual survey to determine the best online brokers for 2024. The rankings are based on customer feedback, making it important to consider the methodology behind the survey and the significance of customer-driven rankings in the financial industry.

3. Top Online Brokers:

   • The article identifies four top online brokers for 2024: Ally Invest, Fidelity Investments, Charles Schwab, and Merrill Edge. My expertise allows me to delve into the specific strengths and offerings of each broker mentioned. This includes aspects like website security, trade execution speed, customer service, and incentives.

4. Performance Categories:

   • Brokers are evaluated across 20 key performance categories, ranging from website security and trade execution speed to educational resources and wealth management services. Understanding the importance of each category in the context of an investor's needs is essential for making informed decisions.

5. Survey Methodology:

   • The article emphasizes that the results are based solely on data from an extensive customer survey. As an expert, I would stress the significance of transparency in survey methodology and the absence of sponsored content or commission links, ensuring the objectivity of the rankings.

6. Broker Profiles:

   • Each top broker is discussed individually, highlighting their strengths and areas where they excel. Analyzing these profiles allows investors to align their preferences with the specific attributes offered by each broker.

7. Key Performance Categories and Brokers:

   • The article lists key performance categories and the top brokers in each category. As an expert, I can provide additional insights into why certain brokers excel in specific areas, such as website security, trade execution speed, customer service, and more.

8. Market Trends and News:

   • The article briefly touches on market trends, including the integration of TD Ameritrade into Charles Schwab's business and the growth of Ally Invest. I can elaborate on these trends, connecting them to broader market dynamics and industry developments.

By combining my expertise with the information presented in the article, investors can gain a deeper understanding of the online brokerage landscape and make more informed decisions based on their specific needs and preferences.