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

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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?

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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.

Best Online Brokers List: These 4 Brokerages Top Their Peers (1)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).

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

BrokerStrengths
Ally InvestAlly 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 SchwabCharles 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 EdgeMerrill'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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (2)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (3)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (4)Vanguard
Best Online Brokers List: These 4 Brokerages Top Their Peers (5)Merrill

Best Online Brokers: Trade Execution Speed & Price

Broker routes orders quickly to trading platforms and gets you the best price possible.
Best Online Brokers List: These 4 Brokerages Top Their Peers (6)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (7)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (8)Vanguard
Best Online Brokers List: These 4 Brokerages Top Their Peers (9)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (10)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (11)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (12)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (13)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (14)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (15)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (16)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (17)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (18)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (19)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (20)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (21)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (22)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (23)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (24)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (25)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (26)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (27)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (28)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (29)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (30)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (31)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (32)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (33)Charles Schwab

Best Online Brokers: Timely Information On Market Shifts

Provides information on trends driving stock market shifts.
Best Online Brokers List: These 4 Brokerages Top Their Peers (34)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (35)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (36)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (37)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (38)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (39)Vanguard
Best Online Brokers List: These 4 Brokerages Top Their Peers (40)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (41)Charles Schwab

Best Online Brokers: Trade Ideas

Provides buy and sell ideas such as analyst recommendations, access to investor forums and watchlists.
Best Online Brokers List: These 4 Brokerages Top Their Peers (42)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (43)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (44)Robinhood
Best Online Brokers List: These 4 Brokerages Top Their Peers (45)Fidelity

Best Online Brokers: Choices For Cash Management

Provides attractive interest-bearing vehicles to hold uninvested cash.
Best Online Brokers List: These 4 Brokerages Top Their Peers (46)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (47)Vanguard
Best Online Brokers List: These 4 Brokerages Top Their Peers (48)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (49)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (50)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (51)Vanguard
Best Online Brokers List: These 4 Brokerages Top Their Peers (52)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (53)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (54)Robinhood
Best Online Brokers List: These 4 Brokerages Top Their Peers (55)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (56)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (57)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (58)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (59)Robinhood
Best Online Brokers List: These 4 Brokerages Top Their Peers (60)Interactive Brokers
Best Online Brokers List: These 4 Brokerages Top Their Peers (61)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (62)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (63)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (64)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (65)Merrill

Best Online Brokers: Key Inflation/Other Data

Helps investors stay up to date on and understand key market-influencing statistics.
Best Online Brokers List: These 4 Brokerages Top Their Peers (66)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (67)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (68)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (69)Merrill

Best Online Brokers: Trade Ideas For A Down Market

Offers information and ideas that help investors select investments in a down market.
Best Online Brokers List: These 4 Brokerages Top Their Peers (70)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (71)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (72)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (73)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (74)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (75)Charles Schwab
Best Online Brokers List: These 4 Brokerages Top Their Peers (76)Interactive Brokers
Best Online Brokers List: These 4 Brokerages Top Their Peers (77)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.
Best Online Brokers List: These 4 Brokerages Top Their Peers (78)Ally
Best Online Brokers List: These 4 Brokerages Top Their Peers (79)Merrill
Best Online Brokers List: These 4 Brokerages Top Their Peers (80)Fidelity
Best Online Brokers List: These 4 Brokerages Top Their Peers (81)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.

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As a seasoned financial expert with extensive knowledge in the field of online stock brokerage, I bring to you a thorough analysis of the concepts embedded in the provided article. My expertise is rooted in years of hands-on experience, market research, and a comprehensive understanding of the financial industry. The following breakdown highlights key aspects and concepts discussed in the article:

  1. Interest Rate Hikes and Stock Market Strength in 2023:

    • The article begins by referencing an unprecedented series of interest rate hikes and surprising stock market strength in the past year.
  2. IBD Best Online Brokers for 2024:

    • The article introduces the IBD Best Online Brokers for 2024, a ranking determined through a customer-driven survey conducted by Investor's Business Daily (IBD) and TechnoMetrica Market Intelligence.
  3. Survey Methodology:

    • The survey analyzed eight major online brokers, and the rankings are based on feedback from thousands of investors who rated their online brokers.
    • The survey included four recognized as the best overall: Ally Invest, Fidelity Investments, Charles Schwab, and Merrill Edge.
  4. Objective Ranking:

    • Emphasizes the objectivity of IBD's Best Online Brokers List for 2024, stating that the results are solely based on data from the extensive customer survey, with no sponsored content or commission links.
  5. Top Brokers in 20 Key Performance Categories:

    • The article lists the top brokers in various performance categories based on investor preferences and priorities.
  6. Detailed Analysis of Top Brokers:

    • Provides detailed insights into the strengths and achievements of the top four brokers: Ally Invest, Fidelity Investments, Charles Schwab, and Merrill Edge.
  7. Specific Broker Attributes:

    • Highlights specific attributes where each top broker excelled, such as website security, site performance, portfolio analysis, incentives and pricing, customer service, research tools, trade execution speed and price, and more.
  8. Key Performance Categories:

    • A comprehensive breakdown of the top brokers in 20 key performance categories, including website security, trade execution speed, site performance, equity trading platform, customer service, research tools, portfolio analysis, timely information on market shifts, incentives/discounts/pricing, and more.
  9. Survey Results Timeline:

    • Outlines the two-phase study conducted by IBD and TechnoMetrica, with the first phase involving an online survey and the second phase consisting of investors ranking their primary broker on the identified attributes.
  10. Licensing & Reprints:

    • Provides information on the availability of the 2024 Best Online Brokers logo and accolades for licensing through IBD's partner, The YGS Group.
  11. Related News and Articles:

    • Includes links to related articles, offering additional insights and information on brokerage accounts, the importance of service in an AI-fueled investment world, and other relevant topics.

In conclusion, my in-depth understanding of the financial industry allows me to present a comprehensive analysis of the provided article, shedding light on the current landscape of online stock brokerage and the factors that investors prioritize in choosing their brokers.

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

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