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GOBankingRates Announces the Best Brokers of 2018
Traders Magazine Online News, September 20, 2018
So, who are the Top Guns of the retail brokerage world?
With dozens of brokerage firms uniquely suited for investors’ needs, it can be difficult to navigate the masses and choose the best provider to manage your investments.
GOBankingRates took an objective look at services and offerings by the leading brokerages and revealed a list of the top-ranked brokers in six categories.
"Choosing a broker can be an intimidating process, but once you do it, it can open so many financial doors,” said Laira Martin, lead editor, GOBankingRates. “We simplified the process by doing the research for our readers so they can easily choose a broker that works for their individual needs and start investing.”
To determine its category rankings, GOBankingRates examined the top brokerages by asset size.
Best Investment Brokers: Fidelity
Ally Invest
Charles Schwab
TD Ameritrade
E-TRADE
Best Robo-Advisors: Schwab Intelligent Portfolios
SoFi Wealth Management
WiseBanyan
Blooom
Best Roth IRA Accounts: TD Ameritrade
Merrill Edge
Charles Schwab
E-TRADE
Ally Invest
TD Ameritrade
Fidelity
Charles Schwab
Merrill Edge
Best Online Stock Brokers for Beginners: Charles Schwab
TD Ameritrade
Merrill Edge
E-TRADE
Fidelity
Best 401K Companies: T. Rowe Price
ShareBuilder 401K
Employee Fiduciary
Ubiquity
Charles Schwab
The Best Investment Brokers category scored brokerages based on the following factors:
(1) Cost to trade
(2) Number of account types offered
(3) Number of investment options
(4) Opening investment requirement
(5) Promotional or introductory offers
(6) Free research and educational tools
(7) Customer experience, which includes: access to financial advisors, mobile and online access, and 24/7 customer service with a live person.
Brokers were then ranked according to their total score.
Each individual category took into consideration other factors tailored to the individual features and services of that account type. You can check out each ranking category for full methodologies.
“Every investor is different, as is every broker, so we focused on evaluating the fundamentals of effective and affordable investing: low costs and minimums, tons of investing options, helpful tools and information, and access to professional resources that can help investors reach their goals," said Martin.
GOBankingRates is also helping readers to jumpstart their investments by entering for a chance to win $1,000. Enter the sweepstakes daily at GOBankingRates.com/best-brokers.
For more information on the rankings and finalists, visit gobankingrates.com/best-brokers.
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