![]() TD Ameritrade is another broker with split offerings. Who to choose? Check out our guide to choosing a broker here. That will make the choice less about technology and more about the broker itself. Schwab traders will soon get access to thinkorswim. StreetSmart Mobile rates 1.6 stars on the App Store while thinkorswim rates 4.7 stars. That means that Schwab traders are stuck with Schwab’s clunkier suite of apps for the time being… It’s so big, it acquired the next big broker on this list, TD Ameritrade, in 2020.Īs of now, Schwab and TD Ameritrade still have separate apps. Schwab is one of the biggest brokers out there… If you’re not just trading the day’s biggest gainers, this might be a solid option. It has the same IBKR engine and a clean layout. If you trade a lot, IBKR Pro might be worth it. Better order routing makes for better executions… IBKR Pro gives traders access to better order routing. All of them have their own associated fees. IBKR serves traders in more than 200 countries. The fee structure is complicated, but that’s because IBKR offers so much. IBKR Lite is the free version, while you pay to trade with IBKR Pro. Like E-Trade, they split their offerings between a beginner’s model and a paid pro option… ![]() Like much of the industry, IBKR moved to a zero-commission model in the past few years. And Interactive Brokers (IBKR) is a great broker for active traders. Remember - an app is just a gateway to a broker. ![]() Their full suite of broker services might make a difference to you. It’s complicated, but a lot of traders like Fidelity. Citadel is a big market maker that pays other brokers for their order flow. And it routes many of its trades through Citadel. (As an Amazon Associate, we earn from qualifying purchases.)įellow big broker Schwab has said this isn’t the full story…įidelity still accepts payment for order flow on options trades. Once you read “ Flash Boys” by Michael Lewis, this might be a big attraction! Both Robinhood and E-Trade have been fined in the past for their order routing practices.įidelity is the only major broker that doesn’t accept payment for order flow… All brokers must provide the ‘ best execution’ when routing your orders. What does this mean for traders? In terms of order execution, not much. Fidelity Investmentsįidelity’s trading app is the first we’ll look at from a traditional ‘big broker.’ It’s since integrated this suite of options tools into the Power E-Trade app. It has most of the tools that professional traders are looking for…Į-Trade bought rival broker OptionsHouse in 2016. It’s connected with the Power E-Trade web-based platform. The Power E-Trade app steps up the charting quite a bit. The regular app is cleaner, less complicated. There’s the regular E-Trade app and the Power E-Trade app. I still like the Robinhood alternatives on this list more for serious traders. Trading OTCs might not be part of your strategy…īut why would you want to cut yourself off from trading possibilities? Especially if you’re looking to cut trading costs.įor traders looking for a bit more, there’s a Robinhood Gold upgrade. It puts ease of use before power.Īnother drawback is you can’t trade OTC stocks on Robinhood. Robinhood was designed to be mobile first. Robinhood lacks the tools of some of the other apps on this list. But Robinhood is still one of the biggest names in day trading. ![]() Other brokers have adopted Robinhood’s $0 minimum balance and no-commission trading. It’s not my favorite platform…īut it’s largely responsible for the mobile trading revolution. How Much Will Fees Impact My Bottom Line? ![]()
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