Barrons online broker ratings, reviews, rankings, and comparison for Barrons magazine annual stock broker survey and review of the top rated investment accounts, best discount online trading companies.
Fidelity was awarded first place, while Just2Trade rounds out the bottom of the list. Brokerage Environment The U. Despite the surge in equity prices, commissions at many brokerage firms have actually fallen. Less expensive trading combined with a surging stock market means more profits for traders. Apparently, its IRA closeout fee, mutual fund transaction fee, and other charges reduced its overall value.
A new ETF screener with technical analysis tools earned Fidelity high marks. Interactive Brokers is a Close Second Frequent traders actually will pay less on a monthly basis at Interactive Brokers read review.
A new addition this year is iBot, an artificial intelligence that can answer questions in English. The most expensive option is just 0. The model investments are recommended by an independent third party. The newspaper also liked the ability to sync information and watchlists across devices. And the broker has several trading platforms. It also received a 4. For investor education, TD Ameritrade ranked third, behind Fidelity.
The broker was a close second for derivative traders, behind IB. Morningstar will soon be incorporated as well. The brokerage house performed poorly in Range of Offerings. Its cost effectiveness was also viewed as poor. Nevertheless, Firstrade performed poorly in other categories, including Range of Offerings and Technology. This flurry of activity has prompted the broker to start working on a new mobile platform.
Some of the results were a little surprising. For in-person service, Merrill Edge received top honors. This is probably due to its affiliation with Bank of America, as there are many bank locations with a Merrill Edge financial advisor. Schwab was deemed the best choice for investor education, with Fidelity and TradeStation in the top five.
New traders will find the best assistance at TD Ameritrade. Frequent traders will find good values at Interactive Brokers and TradeStation. IB also received top marks for option traders. This broker received high marks for its very low equity commission, but low marks for its lack of mutual funds and fixed-income products. It also performed poorly in the technology category. TradingBlock received just 1.
This year the broker was at 3 stars. Scottrade and Ally Invest were noticeably absent this year. Scottrade did not participate because of its upcoming merger with TD Ameritrade. Its costs went from 2. More stars mean lower fees.