The Best Broker Reviews offer a wide selection of investment options, strong research and customizable trading platforms. But they also go a step further by providing tools and services to help you manage your account and stay on track with your investing goals. This may include education materials, on-call customer support or the ability to sync your external accounts for a holistic view of your investing activities.
Most online brokers offer investors a way to trade stocks and exchange-traded funds (ETFs), but some go further. Robo-advisors, for example, use algorithms to analyze your financial situation and risk tolerance, then design and manage a portfolio of exchange-traded funds (ETFs) or mutual funds for you. They generally charge lower fees than full-service brokers, but they may not provide the personalized guidance of a human advisor.
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Other brokers specialize in niche assets or offer advanced tools for active traders. Lightspeed, for instance, caters to active traders with low prices and high-powered trading platforms. Its “follow feed” feature lets you copy the strategies of other traders, which can boost your profits.
Investors with more modest investing needs may find a good fit with Schwab, Fidelity or Merrill Edge. All three offer excellent trading platforms, educational resources and a large number of investments, including options, mutual funds and ETFs. They also offer a range of deposit and withdrawal options, including checks and mobile banking. They also offer a robust range of retirement and bank-owned brokerage accounts, such as the popular Rollover IRA and the self-directed Simple IRA.