Commissions and Fees


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $0 $49.99 $0.65 per contract $0 $0
Ally Invest $0 $9.95 $0.50 per contract $0 $0
Fidelity $0 $49.95 $0.65 per contract $0 $0
Charles Schwab $0 $49.95 $0.65 per contract $0 $0
Firstrade $0 $0 $0 per contract $0 $0
WeBull $0 na $0 per contract $0 $0
M1 Finance $0 na na $0 $0
Etrade $0 $19.95 $0.65 per contract $0 $0
IB $0 $14.95 $0.70 per contract $0 $30
Tastyworks $0 na $0.50 per contract $0 $0

Services

Best Investment Companies Overview


Listed above are the top 10 highest ranked investment firms in 2021 for individual investors. You can see the online investing companies ratings (the highest possible is 5-star); links to the brokerage websites (logo image); commissions on stocks, ETFs, no-load mutual funds, and options trades; investment products offered by the firms as well as the links to detailed account reviews that contain new client sign up offers.

Some of these top 10 investment companies allow opening an account with no initial deposit requirement ($0 down) and no obligation (customers can close non-retirement account with no fee with all of these firms; and some brokers, such as TD Ameritrade, Webull, and Charles Schwab, also dont charge retirement account closing fees). This is a great opportunity to open a few brokerage accounts, and see first-hand which one you like better.

All the top financial investment firms in the list above do not charge account maintenance fees for non-retirement accounts (except IB). Some companies do have retirement account fees: we suggest checking our Fees pages for complete information (links to these pages are available in our brokerage reviews). IB is the only broker in the list above that might charge account inactivity fee in some instances.

As you can see, commissions on stock and ETF trades are $0 at all brokerage companies.

Mutual funds commissions have a wide price range: the rate is anywhere from $9.95 at Ally Invest and all the way up to $49.95 for purchase transaction at Charles Schwab. Many of these investment firms also offer no transaction fee mutual funds and that allows their clients to buy and sell mutual funds without paying commissions.

Each of the 10 top investment companies has its strengths and weaknesses, and not every firm is right for a particular investor. We encourage readers to take time to read the reviews, to see if a specific firm is a good fit for them.

The companies are not shy to offer new customers promotional deals and incentives for opening a new non-IRA or even a retirement account: anything from reimbursing account transfer fees charged by an old broker; free trades for a period of time (usually one or two months); and up to significant cash bonuses (where amount of bonus often depends on the amount of initial deposit). Investors should definitely take advantage of these offers!

BEST

The Pros and Cons of Investment Firm Advice


While investment company advice can certainly be beneficial, there are nevertheless potential disadvantages. For example, some brokers might try to sell its own products to clients who pay for investment advice. In this situation, there is a conflict of interest because the brokerage house is supposed to be providing objective information, but may just be selling its own funds. These can include both mutual and exchange-traded funds. Some of the top 10 investment companies today manage and sell both types of funds.

Besides selling funds, there could be other conflicts of interest. For example, a stock investment company could benefit from placing trades in a managed account. The firm could also receive compensation by recommending a certain custodian for client assets.

Investors who elect to turn over their assets to an investment advisor also lose the incentive to educate themselves about financial topics. Theres a certain level of blind trust when clients simply turn their money over to an advisor.

Despite the disadvantages of investment broker advice, there are certainly benefits. A financial advisor is an excellent choice for beginners who arent confident enough to make decisions with their own money. Financial planning could also benefit older people who are in retirement or approaching retirement. People who simply dont have enough time to manage their finances could also benefit from the services of a professional money manager. Many of the above top 10 investment companies offer such investment advice.

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