Best Brokers in the USA

An online broker is a financial institution that allows you to trade stocks, forex, commodities and other financial instruments through an online platform. Online brokers are frequently referred to as discount brokers because they can offer a considerable discount when it comes to fees when compared to what the typical full-service brokerage firm might charge.

However, with an online trading broker, you won’t be getting the same financial advice or investment recommendations that full-service brokers usually provide. However, you can conduct self-directed trading and get commission-free trades with access to a number of other key products and services depending on which broker you opt for. Choosing an online broker makes sense for most day traders and investors who want to maintain control over their trading activities.

Some of the best trading brokers in the industry are based out of the United States. However, there are quite a few limitations when it comes to how and what you can trade. This can make it difficult for traders in the USA to choose a broker. We have reviewed hundreds of brokers and only a handful will accept US clients. Therefore, we have put together this guide to help you discover some of the options that are available to you.

Top 10 Brokers USA

Here you will find the best United States brokers according to the many hours of research, testing, analysis and comparison that we have conducted across hundreds of brokers. By having all of the best brokers listed in one place, we aim to make it quick and easy for you to identify the best broker in the USA according to your own individual needs.

In order to be included within our best brokers in the USA list, the broker should be regulated and offer top trading conditions, including tight spreads, low fees, lots of liquidity and rapid execution speeds. They should have a choice of easy to use yet powerful trading platforms and trading apps along with a wide selection of quality trading tools for comprehensive market analysis and to assist you with your daily trading activities.

Other factors that we consider to be important when choosing the best USA broker include the variety of account types, funding options provided, reputation within the industry, customer support and range of financial instruments available to trade online. We also like to see enough educational resources provided to help beginners learn more about trading and investing online.

That being said, we have chosen these as the best brokers in the United States as they meet our criteria and are regulated by the relevant authorities. They have passed our strict broker reviews with flying colours and been awarded a top broker rating for the excellent range of trading and investing services that they provide.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.
IG Review

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

$250

1974

1:200

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
2.
Oanda Review

CFTC, NFA

$0

1996

1:200

Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone.
3.
TD Ameritrade Review

FINRA, SEC, SFC

$0

1975

N/A

All investments involve risk, including loss of principal. Past performance does not guarantee future results.
4.
Forex.com Review

ASIC, CIMA, CFTC, FCA, FSA, IIROC, JFSA, NFA, SFC

$100

2001

1:50

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.
Firstrade Review

FINRA

$1

1985

1:4

All investments involve risk and losses may exceed the principal invested.
6.
Fidelity Review

FINRA, SEC

$1

1946

N/A

All investments involve risk, including loss of principal. Past performance does not guarantee future results.
7.
Charles Schwab Review

CFTC, FINRA, SEC

$0

1971

N/A

All investments involve risk, including loss of principal. Past performance does not guarantee future results.
8.
E*TRADE Review

FINRA, NFA

$500

1982

1:2

All investments involve risk, including loss of principal. Past performance does not guarantee future results.
9.
Rosenthal Collins Group Review

CFTC, CME, NFA

$5,000

1923

1:100

An investment in futures contracts involves a high degree of risk.
10.
Cobra Trading Review

FINRA, NFA

$30,000

2013

1:4

All investments involve risk, including loss of principal. Past performance does not guarantee future results.

IG

IG Group is a world leader in derivatives trading and an established member of the FTSE 250. They are one of the top USA brokers offering trading on thousands of shares plus forex, indices, commodities, options and more.

The IG Group of companies are heavily regulated by the top leading authorities worldwide due to its global presence. You can get access to a wide range of markets, industry leading platforms, superior research, and comprehensive trader education.

IG can be a great choice for beginners due to their high-quality educational content, with the dedicated IG Academy being its main focus. It also publishes special reports, features podcasts, webinars, and seminars, has a subscription-based service, and delivers in-house trading recommendations from expert analysts.

You can access exclusive data and expert analysis day or night, with live prices available even before you log in. IG’s trading app is built to fit around you and regularly updated to suit your changing needs, so you can be sure you’re getting the best possible trading experience.

Pros
  • Transparent, fair and competitive costs
  • Powerful and customisable platforms and apps
  • Enhanced MT4 access with plenty of trading tools
  • Spread only pricing from 0.8 pips
  • Build your trading skills via the IG Academy
  • Superb selection of over 18,000 financial instruments
  • Instant online verification
  • Quick and easy withdrawals
  • Free demo trading accounts
Cons
  • Limited deposit and withdrawal options
  • $250 minimum deposit is not the lowest
  • No MetaTrader 5 platforms
  • Inactivity fee after 24 months

OANDA

OANDA is among the best forex brokers in the USA in terms of customer funds held. They are regulated in multiple top-tier jurisdictions and provide client with excellent trading conditions on powerful trading platforms and apps.

They offer a wide range of global CFD instruments, including indices, forex, cryptocurrencies, commodities, metals and bonds. You can analyse the global markets in great detail using a plethora of top-class trading tools to help you find opportunities and make informed trade decisions.

Pros
  • Industry leading trading platforms
  • Excellent range of financial instruments
  • Very competitive trading conditions
  • No minimum deposit required to get started
  • Lots of professional trading tools
  • Institutional trading via FIX API connectivity
  • Quick and easy fully digital account opening process
  • Free demo trading accounts
Cons
  • Inactivity fees
  • Products can be limited in certain locations
  • Not the lowest fx spreads you will find
  • Could add some more tutorial videos

TD Ameritrade

TD Ameritrade are considered by many to be one of the best US brokers for online stock trading, long-term investing, and retirement planning. You can stay on top of the market with access to the brokers innovative technology, extensive product range, personalized education, and award-winning service.

They have desktop, web, and mobile platforms which are built for all levels of investors. You can trade the markets with very low fees and powerful platforms along with an abundance of advanced trading tools to help you discover opportunities according to your own financial goals.

Pros
  • Wide range of trading instruments
  • Low trading fees in general
  • Free stock and ETF trading
  • Sophisticated desktop trading platform
  • Super selection of market research and analytical tools
  • Comprehensive educational content
  • Good customer support
Cons
  • You can only trade on US markets
  • Accounts mainly limited to US residents
  • Limited deposit and withdrawal options
  • Not the fastest signing up process
  • USD currency accounts only

Forex.com

Forex.com offers forex and metals trading with award winning trading platforms, tight spreads, quality executions, low commissions and dedicated support. They have an excellent choice of trading platforms that can give you that extra edge in your trading strategies. There are intuitive and fully customisable platforms packed with tools for your desktop, web and mobile devices. You will also get access to a fantastic selection of in-house and third-party market research to help you make informed trade decisions. City Index are another trading broker under the same umbrella which further emphasises the stature of the company.

Pros
  • Good variety of currency pairs
  • Low fees for trading forex
  • Superb market analysis and research tools
  • Powerful and customisable trading platforms and apps
  • Free demo trading accounts
Cons
  • Minimum $100 deposit not the lowest
  • Inactivity fees may apply
  • Not many options for deposits and withdrawals
  • Limited product portfolio compared to some brokers

Firstrade

Firstrade is a discount broker that provides self-directed US investors with online brokerage services. They have very competitive trading conditions including zero commission investing on a wide range of investment products. You can trade on intuitive and versatile platforms with the tools designed to help investors build and take control of their portfolio. As a pioneer in online trading, Firstrade has been serving US traders since way back in 1985.

Pros
  • Free stock, ETF, funds and options trading
  • Robust trading and investing platforms
  • Advanced market research tools
  • Lots of high-quality educational content
  • $0 account minimum
  • No inactivity fees
Cons
  • Limited payment options
  • You can only trade on US markets
  • No live chat or 24/7 support

Fidelity

Fidelity is a US brokerage offering a broad choice of investments with competitive fees, advanced trading platforms, expert analysis and powerful tools to help you make informed decisions.

Pros
  • Broad choice of investments to choose from
  • US and international stocks
  • Powerful yet user-friendly platforms
  • Expert insights and investing tools
  • Commission-free US stocks and ETFs
  • Very competitive fees for everyone
  • Multiple account base currencies
  • Excellent 24/7 customer service
Cons
  • Do not currently support CFDs and Cryptos
  • Limited account funding options
  • Long account opening process
  • Certain account benefits require larger deposits
  • High mutual fund fees and margin rates

Charles Schwab

Charles Schwab is a leading US brokerage offering a vast range of investment products across high quality platforms for all of your devices with powerful tools and educational resources to help guide you along the way.

Pros
  • Trade stocks, mutual funds, ETFs, and more with the flexible brokerage account
  • Get commission-free online trades plus $0.65 per-contract fees for options
  • Versatile and easy to use investing platforms for all of your devices
  • Intuitive tools and personalized support available around the clock
  • Transparent pricing and low costs
  • Quality order executions provide additional value for your trading
  • Get real-time trade analysis and decision support from experienced professionals
  • Sharpen your instincts with premium research from Schwab and third parties
  • Fortune 500 company with many years of U.S. market experience
  • No account opening and maintenance fees
  • Fractional shares as low as $5
  • Robo-advisor with 0% advisory fee
  • No account minimum required
Cons
  • Limited account funding options
  • High fees for managed accounts and financial advisor assistance
  • No direct access to cryptocurrencies

E*TRADE

E*TRADE offers a variety of solutions for all kinds of investors and traders—with no account minimums and no confusing jargon. You can build your portfolio with access to intuitive tools, resources and help whenever you need it.

Pros
  • Great range of investment choices
  • Low trading fees (free stock and ETF trading)
  • Intuitive trading platforms for all of your devices
  • Advanced trading tools for detailed market analysis
  • Innovative portfolio-building tools
  • Abundance of educational resources to help beginners
  • Excellent customer support
Cons
  • No forex, cryptos or CFDs
  • No fractional shares investing
  • Limited funding options

Rosenthal Collins Group

Rosenthal Collins Group (RCG) is a well-established brokerage firm, commodities broker and regulated futures commission merchant (FCM). RCG offers trading instruments on a wide range of professional trading platforms for all of your devices.

Pros
  • Access to trade on over 10 professional trading platforms
  • Powerful tools for comprehnesive market analysis
  • Market news and technical analysis are presented daily
  • Multiple tradable assets to choose from
  • Practice accounts to trial the platforms
  • Good customer support
Cons
  • Minimum $5,000 deposit is quite high
  • Lack of educaitonal content for beginners
  • Demo account is limited to 14 days
  • Limited payment options
  • CFD trading not supported

Cobra Trading

Cobra Trading offers powerful trading platforms and sophisticated trading tools along with unparalleled support to competitive day traders who want to capitalize on every opportunity by trading faster and more efficiently.

Pros
  • Premium trading platforms for professional traders
  • Excellent range of powerful trading tools
  • Competitive fees and bespoke pricing
  • Quality execution at the best available prices
  • Many options to route orders directly to market
  • Exceptional and personalised customer service
Cons
  • Minimum $30,000 deposit
  • No forex, CFD or crypto trading
  • Limited account funding options
  • Platform fees and some other charges

Conclusion

Whilst this article covers what we consider to be amongst the most important things to consider when choosing a broker in the USA, it can differ depending on your individual preferences. Thus, it is important that you choose a broker that meets your needs and use this information only for educational purposes and not as advice. Take your time to research brokers and conduct your own due diligence. You can even test a broker with a free demo account to see if they are suitable before making a commitment. Please feel free to use our broker comparison tool if you are looking for some further inspiration to help you choose a broker.


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