Best Online Brokers

Best Online Brokers

Here at Sprout Wealth we’re big fans of investing in the stock market. Not only is it one of the best ways to grow your wealth, but being in the market is vitally important if you plan on retiring some day. Given that, we’ve put together this list of the best online brokers to help you get an idea of what options your options are.

There are hundreds, if not more, of online brokerages out there and thus it’s somewhat difficult to narrow down who the best online brokers are. Ultimately it requires finding one that fits your needs and provides value for your investing dollars.

I either have accounts with several of the brokerages on our list or have extensive experience working with them from my days in the discount broker industry. If you do have any questions as to where you should start, feel free to contact me and I can help provide some direction. With that out of the way, let’s get on to some of the best online brokerages out there.

Motif Investing

Motif Investing is a newer player in the online brokerage industry, but they’ve quickly become one of the best online brokers in my opinion. With Motif, you don’t buy and sell individual stocks or mutual funds, rather you create your own motif. Think of this as your own personal index fund.

For $9.95 you can create your own motif that contains up to 30 stocks and ETFs or you can choose from one of their 100+ pre-made motifs. If you’re investing with $1,000 or less, Motif is a great option to look at as you can open an account with as little as $250. For a more detailed breakdown, you can read our Motif Investing review. Don’t forget about promotions either as Motif doesn’t disappoint there.

Open a new Motif Investing account today and get up to $150 cash back!

 

 

TradeKing

TradeKing is similar to Optionshouse as they offer a killer commission of $4.95 and offer Forex trading. Like Optionshouse, TradeKing is going to be a broker to consider if you’re fairly active or want a low trading fee.

Where TradeKing really sets themselves apart though and makes them one of the best online brokers in the space is they’ve recently added the TradeKing Advisors Program. This is aimed at those wanting a robo-advisor at lower minimums than what most offer.

Starting at $5,000 you can get a portfolio modeled by Morningstar that’ll be managed for you. For a further breakdown of what TradeKing has to offer check out our TradeKing review.

 

 

E*TRADE

Like Scottrade, E*TRADE is one of the more mature online brokerages in the industry. E*TRADE has a flat $9.99 commission and offers a wide variety of investment products from stocks to bonds to Futures and Forex trading.

While the price might scare some away, it is still competitive within the market and E*TRADE is second to none when it comes to tools and services to help you get on the path to growing wealth. E*TRADE also has a relatively low minimum opening balance requirement of $500. If you’d like a fuller breakdown of E*TRADE, make sure to check out our E*TRADE review.

Open a new E*TRADE account today and get up to $600 cash back!

 

Like I mentioned above, there are many brokerages to consider. Hopefully our list of best online brokers helps narrow down your choices. Take your time to find one that meets your needs and don’t be afraid to ask questions before opening an account. Don’t forget either that many brokerages offer promotions for your new business – don’t leave that free money on the table!