We rate brokers on nine key categories, including investment options, trading platforms and cash sweep rates.
Finder’s investment experts assess brokers across nine key categories to help you objectively evaluate a broker’s overall performance and suitability for your unique needs.
The nine categories we measure are:
Investment options
Trading platforms and technology
Trading costs
Features and amenities
Account fees
Account types and minimums
Customer support
Mobile app
Cash sweep rates
Data collection
We collect data manually through online research and from providers directly. For many of the brokers we review, our investment experts perform hands-on testing. Some brokers also provide live demonstrations of their platforms and services.
Category weightings
We weigh each metric based on factors we believe are most important to traders and investors. Brokers earn a score in each category and then an overall score based on the weightings detailed on this page.
Scoring and rating
Brokers are evaluated on the nine key categories outlined on this page. These categories are broken down into 24 core elements and 79 weighted criteria. Some of these core elements are features that Finder’s experts consider perks to the main features. Providers that offer any of these perks are rewarded with additional points. However, brokers that don’t offer any of these perks are not penalized. These features include IPO access, 24/7 customer support, access to a robo-advisor, access to a financial advisor and paper trading.
We rate brokers using a system of one to five stars, incremented in tenths of a star, with 5 stars being the best possible score.
★★★★★5/5 — Excellent
★★★★★4/5 — Good
★★★★★3/5 — Average
★★★★★2/5 — Subpar
★★★★★1/5 — Poor
Investment options
This category evaluates the breadth and diversity of available assets.
Investment options
If a broker offers stocks, options and exchange-traded funds (ETFs), which we consider foundational investment options, it earns the highest score. If a provider doesn’t offer at least stocks and ETFs, it earns the lowest score. Brokers are then awarded five additional points for each additional available asset type. We consider access to mutual funds, bonds, cryptocurrency, futures, forex, precious metals, interval funds, collectibles, royalties, art and certificates of deposit (CDs).
★★★★★5/5 — N/A
★★★★★4/5 — N/A
★★★★★3/5 — Offers stocks, options and ETFs
★★★★★2/5 — Offers stocks and ETFs
★★★★★1/5 — Doesn’t offer stocks or ETFs
Trading platforms and technology
This category examines the trading platform’s usability, functionality and availability across devices. It assesses the quality of research tools, charts and technical analysis features.
Trading platforms
If a broker offers mobile, web browser and desktop trading platforms, it earns the highest score. If a provider offers only access via a mobile app or web browser, it earns the lowest score.
★★★★★5/5 — Offers mobile, web browser and desktop trading platforms
★★★★★4/5 — Offers two trading platforms
★★★★★3/5 — Offers trading only via a mobile app or web browser
★★★★★2/5 — N/A
★★★★★1/5 — N/A
Analysis and research tools
If a platform offers robust and useful tools that are significantly better than most competing platforms, including advanced charting, free third-party research, analyst ratings and price targets, it earns the highest score. If a broker offers no analysis or research tools, it earns the lowest score.
★★★★★5/5 — Offers advanced charts, screeners, watchlists, price alerts, earnings estimates, company financials, free third-party research, analyst ratings, price targets, news and company statistics
★★★★★4/5 — Offers advanced charting and analysis features and research tools, but not as robust as top platforms
★★★★★3/5 — Offers a basic mix of tools and information, such as screeners and alerts but no advanced charts or analyst research or price targets
★★★★★2/5 — Offers company details/statistics and news only
★★★★★1/5 — Offers no resources or tools
Trading costs
This category evaluates the broker’s trading fee structure, including stock, ETF and options commissions, as well as options contract fees. Futures-specific trading costs only apply to brokers that offer futures trading exclusively.
Commissions on stocks, options and ETFs
Platforms with commission-free stock, option and ETF trades get the highest score, while platforms that charge commissions to trade stocks, options and ETFs earn the lowest score.
★★★★★5/5 — Commission-free stock, option and ETF trading
★★★★★4/5 — N/A
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — Commissions on stocks, options and ETFs
Options contract fees
Brokers that charge no options contract fees earn the highest score. If a broker doesn’t offer options trading, it earns the lowest score.
★★★★★5/5 — No per-contract fees
★★★★★4/5 — $1 or less in total contract fees
★★★★★3/5 — $0.65 or less per contract
★★★★★2/5 — $1 or more per options contract
★★★★★1/5 — N/A
Margin rates
If the broker’s highest margin rate is between 6% and 10%, it earns the highest score. Brokers that don’t offer margin earn the lowest score.
★★★★★5/5 — Margin rate of 6–10%
★★★★★4/5 — Margin rate of 10.01%–13%
★★★★★3/5 — Margin rate of 13.01% or more
★★★★★2/5 — N/A
★★★★★1/5 — No margin
Features and amenities
This category evaluates the availability of features such as access to advisory services, fractional shares, instant deposits, paper trading, IPO access and educational resources.
Access to a robo-advisor
If a broker offers access to a robo-advisor with no advisory fees and no minimum balance requirements, it earns the highest score. Brokers that don’t offer access to a robo-advisor are not penalized.
★★★★★5/5 — Offers access to a robo-advisor with no advisory fees and no minimum balance requirements
★★★★★4/5 — Offers access to a robo-advisor but has a minimum balance requirement or charges an annual advisory fee
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — N/A
Access to a financial advisor
If a broker offers access to a financial advisor with no advisory fees and no minimum balance requirements, it earns the highest score. Brokers that don’t offer access to a financial advisor are not penalized.
★★★★★5/5 — Offers free access to a financial advisor with no advisory fees and no minimum balance requirements
★★★★★4/5 — Offers access to a financial advisor but has a minimum balance requirement or charges an annual advisory fee
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — N/A
Fractional shares
If a broker offers fractional shares, it earns the highest score. If a broker doesn’t offer fractional shares, it earns the lowest score.
★★★★★5/5 — Offers fractional share trading
★★★★★4/5 — N/A
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — Doesn’t offer fractional share trading
Instant buying power
If a platform offers instant buying power, it earns the highest score. If a provider doesn’t offer instant buying power, it earns the lowest score.
★★★★★5/5 — Offers instant buying power
★★★★★4/5 — N/A
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — Doesn’t offer instant buying power
Paper trading
If a broker offers paper trading, it earns the highest score. Brokers that don’t offer paper trading are not penalized.
★★★★★5/5 — Offers paper trading
★★★★★4/5 — N/A
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — N/A
IPO access
If a broker offers IPO access, it earns the highest score. Brokers that don’t offer IPO access are not penalized.
★★★★★5/5 — Offers IPO access
★★★★★4/5 — N/A
★★★★★3/5 — N/A
★★★★★2/5 — N/A
★★★★★1/5 — N/A
Extended hours trading
If a broker offers 24/5 market access, it earns the highest score. If a broker doesn’t offer extended trading hours, it earns the lowest score.
★★★★★5/5 — Offers 24/5 market access
★★★★★4/5 — N/A
★★★★★3/5 — Offers extended hours trading, but not 24/5 market access
A broker earns the highest score if it offers live webinars, courses, tutorials, articles, videos, live-streaming news, and market commentary. Brokers that offer no educational content earn the lowest score.
★★★★★5/5 — Offers live webinars, courses, tutorials, articles, videos and live-streaming news and market commentary
★★★★★4/5 — Offers articles, videos, interactive courses and market commentary but no live webinars
★★★★★3/5 — Offers articles and videos but no interactive courses, market commentary or live webinars
★★★★★2/5 — Offers informational tools only, like newsletters and market news
★★★★★1/5 — Doesn’t offer any educational content
Account fees
This category assesses annual fees, inactivity fees and outgoing account transfer fees.
Annual fee
If a broker charges no annual fee, it earns the highest score. If a platform charges an annual fee of $31 or more, it earns the lowest score.
★★★★★5/5 — $0
★★★★★4/5 — N/A
★★★★★3/5 — $1–$30
★★★★★2/5 — N/A
★★★★★1/5 — $31 or more
Inactivity fee
If a broker charges no inactivity fee, it earns the highest score. If a broker charges an inactivity fee that totals $150 or more annually, it earns the lowest score.
★★★★★5/5 — $0
★★★★★4/5 — $1–$49
★★★★★3/5 — $50–$100
★★★★★2/5 — $101–$149
★★★★★1/5 — $150 or more
Full outgoing account transfer fee
If a provider charges clients no fee to transfer their entire account to another broker, it earns the highest score. If a broker charges a fee of $101 or more, it earns the lowest score.
★★★★★5/5 — $0
★★★★★4/5 — $1–$75
★★★★★3/5 — $76-$100
★★★★★2/5 — $101 or more
★★★★★1/5 — N/A
Account types and minimums
This category examines a broker’s lineup of account types and minimums to open an account.
Account types
Brokers that offer individual, joint and custodial brokerage accounts, 529 plans and traditional, Roth, rollover, custodial and SEP IRAs earn the highest rating, while a broker that offers only an individual brokerage account earns the lowest rating.
★★★★★5/5 — Offers individual, joint and custodial brokerage accounts, 529 plans and traditional, Roth, rollover, custodial and SEP IRAs
★★★★★4/5 — Offers individual and joint brokerage accounts and traditional, Roth, rollover and SEP IRAs, but no custodial brokerage accounts, 529 plans or custodial IRAs
★★★★★3/5 — Offers individual and joint brokerage accounts and traditional, Roth and rollover IRAs
★★★★★2/5 — Offers individual and joint brokerage accounts, with no IRAs
★★★★★1/5 — Offers individual brokerage accounts only
Account minimums
Brokers that have no minimum deposit requirements earn the highest rating, while brokers with a minimum deposit requirement of more than $500 earn the lowest rating.
★★★★★5/5 — No minimum deposit required
★★★★★4/5 — Minimum deposit of $25 or less
★★★★★3/5 — Minimum deposit of up to $100
★★★★★2/5 — Minimum deposit of up to $500
★★★★★1/5 — Minimum deposit of more than $500
Customer support
This category rates the broker’s customer support responsiveness and accessibility and evaluates available support channels, such as live chat, phone and email.
Contact methods and availability
If a broker offers 24/7 customer support, it earns the highest score. If they only offer email support, the broker earns the lowest score.
★★★★★5/5 — Offers 24/7 support
★★★★★4/5 — Offers phone support and live chat but no 24/7 support
★★★★★3/5 — Offers phone support or live chat during regular business hours
★★★★★2/5 — Only offers email support
★★★★★1/5 — N/A
Mobile app
This category analyzes a mobile app’s user reviews and ratings.
App store ratings
We take the average of the broker’s ratings across the Apple App Store and Google Play App Store to calculate a final score.
Cash sweep rates
This category assesses the annual percentage yield (APY) offered on cash balances through the broker’s cash sweep program. It also considers any minimums to earn the APY. If a broker offers an APY of 5% or more on uninvested cash, with automatic sweeps and no additional steps needed to earn these rates, it earns the highest score. If a broker doesn’t offer a cash sweep program, it earns the lowest score. If a broker requires a minimum of $1,000 or more to earn the APY, it earns the lowest score.
Cash sweep rates
★★★★★5/5 — Offers an APY of 5% or more on uninvested cash, with automatic sweeps and no additional steps needed to earn these rates
★★★★★4/5 — Offers an APY of 5% or more on uninvested cash but may require the customer to sign up with a separate product
★★★★★3/5 — Offers an APY of between 1% and 4.99% on uninvested cash and may require the customer to sign up with a separate product
★★★★★2/5 — Offers an APY of less than 1% on uninvested cash and may require the customer to sign up with a separate product
★★★★★1/5 — Doesn’t offer a cash sweep program
Minimum to earn the APY
★★★★★5/5 — No minimum
★★★★★4/5 — Requires a balance of between $1–$499 to earn the APY
★★★★★3/5 — Requires a balance of between $500–$999 to earn the APY
★★★★★2/5 — Requires a balance of $1,000 or more to earn the APY
★★★★★1/5 — Doesn’t offer a cash sweep program
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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
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