![]() The firm reported it has more than 100,000 unique corporate and municipal securities on offer. Highlights at E*Trade include a gigantic menu of bond choices. But at Fidelity, the default sweep account paid 4.75%. Morgan Self-Directed Investing and Merrill Edge (both pay 0.01%) and WellsTrade (0.15% for balances under $1,000,000), among others, were a drag on the average. Among the firms surveyed, the average sweep account interest rate was below 1.0% as of the end of May. (Fidelity offers similar access to fractional stock and ETF shares.) Interactive also offers the ability to set up recurring stock and ETF trades – much like regular 401(k) contributions.įidelity's sweep accounts (where uninvested cash sits) shone. The firm lets its customers buy fractional shares in thousands of stocks and 3,125 ETFs for as little as $1. (Schwab comes close to that, with 4,406 E*Trade offers 4,278.) But Interactive's fractional-share trading in stocks and ETFs stood out. Interactive Brokers offers access to markets in the U.S. Interactive Brokers won the top spot overall in this category, but Fidelity and E*Trade weren't far behind. Because interest rates are higher this year, we also asked about the income you can earn on cash. We asked the firms to pony up information on the breadth of investments they offer, including individual corporate and municipal bonds how many mutual funds customers can buy without a transaction fee and whether the firms offer fractional-share purchases of stocks and ETFs. More is definitely more in this category, which accounted for 20% of the final score. (Image credit: Future) Online brokers with the best investment opportunities Rowe Price and Vanguard declined to participate. Siebert didn't respond to our invitations T. ![]() The remaining two, Firstrade and Interactive Brokers, focus more on trading and are popular with active investors. Morgan Self-Directed Investing (Chase Bank), WellsTrade ( Wells Fargo) and Ally Invest (the online-only Ally Bank). Three are online brokers with affiliated banks: J.P. Half of this year's participants are well known: E*Trade, Fidelity, Merrill Edge, Charles Schwab and TD Ameritrade. Every year we invite a number of firms, but to be included, a broker must offer online trading in stocks, exchange-traded funds ( ETFs), mutual funds and individual bonds. To help you choose, we rounded up data from 10 brokers who agreed to participate in our annual survey. Or if you don't know much about investing, a firm with a good robo advisor may suit you best. If you're just getting started, you may want the ability to invest in partial shares of stocks. Maybe you need technical reports on stocks or charting tools that let you slice and dice a stock's moves. You may want a broker that has an array of no-transaction-fee mutual funds at the ready. Figuring out which broker is right for you depends on what you need and what you value.
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