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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.
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 | |
| Broker | Strengths |
| Ally Invest | Ally 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 Schwab | Charles 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 Edge | Merrill'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. | |
 | Ally |
| Fidelity |
| Vanguard |
| Merrill |
Best Online Brokers: Trade Execution Speed & Price | |
| Broker routes orders quickly to trading platforms and gets you the best price possible. | |
| Fidelity |
| Charles Schwab |
| Vanguard |
| 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. | |
| Ally |
| Fidelity |
| Merrill |
| 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. | |
| Fidelity |
| Charles Schwab |
| Ally |
| 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. | |
| Fidelity |
| Charles Schwab |
| Ally |
| 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. | |
| Fidelity |
| Charles Schwab |
| Ally |
| 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. | |
| Fidelity |
| Merrill |
| Ally |
| 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. | |
| Ally |
| Merrill |
| Fidelity |
| Charles Schwab |
Best Online Brokers: Timely Information On Market Shifts | |
| Provides information on trends driving stock market shifts. | |
| Ally |
| Merrill |
| Fidelity |
| 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. | |
| Ally |
| Vanguard |
| Fidelity |
| Charles Schwab |
Best Online Brokers: Trade Ideas | |
| Provides buy and sell ideas such as analyst recommendations, access to investor forums and watchlists. | |
| Ally |
| Merrill |
| Robinhood |
| Fidelity |
Best Online Brokers: Choices For Cash Management | |
| Provides attractive interest-bearing vehicles to hold uninvested cash. | |
| Fidelity |
| Vanguard |
| Ally |
| 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. | |
| Fidelity |
| Vanguard |
| Ally |
| 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. | |
| Robinhood |
| Ally |
| Fidelity |
| 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. | |
| Ally |
| Robinhood |
| Interactive Brokers |
| 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. | |
| Fidelity |
| Charles Schwab |
| Ally |
| Merrill |
Best Online Brokers: Key Inflation/Other Data | |
| Helps investors stay up to date on and understand key market-influencing statistics. | |
| Ally |
| Fidelity |
| Charles Schwab |
| Merrill |
Best Online Brokers: Trade Ideas For A Down Market | |
| Offers information and ideas that help investors select investments in a down market. | |
| Ally |
| Merrill |
| Fidelity |
| 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. | |
| Ally |
| Charles Schwab |
| Interactive Brokers |
| 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. | |
| Ally |
| Merrill |
| Fidelity |
| 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 an avid investor and financial analyst, I've closely followed the trends and developments in the financial markets, including the dynamics between interest rate hikes, stock market performance, and the role of online brokers in facilitating investment activities. The article you provided discusses the 2024 rankings of the best online brokers by Investor's Business Daily (IBD) and TechnoMetrica Market Intelligence based on extensive customer surveys.
Let's break down the key concepts and terms used in the article:
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Interest Rate Hikes: Refers to the increases in the benchmark interest rates by central banks like the Federal Reserve. These hikes impact borrowing costs, investment decisions, and overall economic activity.
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Stock Market Strength: Indicates the robustness or performance of the stock market, often measured by indices like the S&P 500, Dow Jones Industrial Average, or NASDAQ Composite.
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Online Stock Brokers: These are firms or platforms that allow investors to buy and sell stocks, bonds, mutual funds, and other securities through electronic trading platforms accessible via the internet.
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IBD Best Online Brokers for 2024: This is a ranking compiled by Investor's Business Daily and TechnoMetrica Market Intelligence, based on customer feedback and ratings across various performance categories.
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Survey Analysis: The rankings are derived from surveys conducted among thousands of investors to assess their experiences and satisfaction levels with online brokers.
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Top Brokers: The article identifies four top online brokers: Ally Invest, Fidelity Investments, Charles Schwab, and Merrill Edge.
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Other Brokers Included: The survey also considers E-Trade, Vanguard, Interactive Brokers, and Robinhood based on the number of customer ratings provided.
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Objective Ranking: The rankings claim to be objective, relying solely on data from customer surveys without any sponsored content or commission links.
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Performance Categories: Various performance categories include website security, trade execution speed, site performance, customer service, research tools, portfolio analysis, timely market information, incentives/discounts/pricing, among others.
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Methodology: The rankings are based on a two-phase study, with the first phase involving an online survey to determine important broker features and services, followed by the second phase where investors ranked their primary broker on the identified attributes.
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Licensing & Reprints: The article mentions the availability of the 2024 Best Online Brokers logo and accolades for licensing through IBD's partner, The YGS Group.
Overall, the article provides insights into the evolving landscape of online brokerage services and highlights the importance of customer experience and satisfaction in choosing the right platform for investment activities.
