Best Online Discount Brokers
Discount brokers allow stock market investors to trade with a minimum brokerage fee. Discount brokers help you in keeping your transaction amount to a minimum. This list of discount brokers was prepared to help you make the right decision before investing in stock markets. You might have already found some good discount brokers online. All those brokers may appear to provide the same services on the surface level. But when you try to dig in deeper, you will notice there are many contrasting differences between those brokers. Here is the list of our choices of best online discount brokers for investors in 2020.
You Invest by J.P Morgan
You Invest by J.P Morgan is one of the top choices of investors for trading in the stock market. The You Invest by J.P Morgan is backed by Chase. ETFs, Stock trades and options trade are all charged $0 by You Invest. A mobile app by Chase makes trading accessible and easy anywhere, anytime. J.B Morgen also offers cash bonuses for new investors who sign up for You Invest.
- For a minimum deposit of $25,000, a cash bonus of $200
- A minimum deposit of $100,000, a cash bonus of $350
- For a minimum deposit of $250,000, a cash bonus of $725
Ally Invest
Among all the banks, Ally Invest is one of the most user-friendly websites. On deposit accounts, Ally’s rates are some of the most profitable ones you will find. Similar to the You Invest by J.P Morgan, Ally Invest’s transaction rates are either very low or non-existent. Ally Invest’s services are acclaimed widely for their consumer-friendly services.
Another service offered by Ally is Cash Enhanced Managed Portfolio. Dividend rebalancing and reinvesting are both managed by Ally Invest, which contributes to the portfolio. Ally Invest charges no fee at all for this service. Moreover, the minimum investment in Ally Investment is just $100.
TD Ameritrade
TD Ameritrade is the least expensive discount broker in this list of brokers. Despite the fact that TD Ameritrade is the least expensive discount broker on this list, it does provide some of the best trading tools online. TD Ameritrade has two mobile applications, that cater to the purposes of casual and advanced traders respectively. Casual investors can download the TD Ameritrade Mobile App. Mobile Trader by TD Ameritrade is aimed at catering to the needs of advanced investors. TD Ameritrade also offers a $0 fee for trading stocks. Another advantage of TD Ameritrade is that the users can sign up with a minimum investment of $0.
Capital One Investing
Capital One investing was formerly known as ShareBuilder. A full range of trading services is catered by Capital One Investing. Capital One Investment’s rates are not free of cost, but they are indeed reasonable. However, due to the fees, Capital One Investing is not recommended by us.
E*Trade
Trading platforms and tools for several different investment lifestyles are offered by E*TRADE. TradeMonster and OptionsHouse merged back in 2014. Later on, E*TRADE acquired this merger company. Based on the investor’s debt balance, the margin rates range from 7.00% to 10.50%. The trade stock fee is $0.
