What is the most popular brokerage?
They are often referred to as the "big four brokerages." Each of these firms—Charles Schwab, Fidelity Investments, and E*TRADE,—comprise the top in terms of customers and assets. This article provides a short analysis of each brokerage's products, services, and fee structures. They are listed in no particular order.
Platform | Active brokerage accounts, Q3 2022 (millions) | Active brokerage accounts, Q3 2023 (millions) |
---|---|---|
Fidelity | 35.6 | 38.0 |
Schwab | 34.0 | 34.5 |
Robinhood | 12.2 | 23.3 |
Bank of America/Merrill Lynch | 3.4 | 3.8 |
Stock Brokerage Firm | Assets under management* |
---|---|
Vanguard Group | $8.6 trillion |
Charles Schwab | $8.5 trillion |
Fidelity Investments | $4.4 trillion |
JPMorgan Chase & Co. | $3.9 trillion |
Company | Forbes Advisor Rating | BEST FOR |
---|---|---|
TD Ameritrade | 4.4 | Best Online Broker For Beginners And Best For Mobile App Users |
Fidelity Investments | 4.4 | Best Online Broker For Everyday Investors |
Charles Schwab | 4.3 | Best Online Broker For Customer Service |
Tastytrade | 3.9 | Best Online Broker For Options Trading |
- Interactive Brokers.
- SoFi Active Investing.
- E*TRADE.
- TradeStation.
- ZacksTrade.
- Firstrade.
- Ally Invest.
- Webull.
- Charles Schwab - Best for high net worth investors.
- Merrill Edge - Best rewards program.
- Fidelity - Best overall online broker.
- Interactive Brokers - Great overall, best for professionals.
- E*TRADE - Best web-based platform.
Fidelity serves more than 43 million accounts, while Charles Schwab has more than 34 million accounts. Charles Schwab has $8.2 trillion in client assets, while Fidelity has $11.5 trillion in assets under administration.
Fidelity and Charles Schwab are two great options for the online investor. You can't go wrong with either. However, the more active or sophisticated investors might prefer Charles Schwab's somewhat greater range of tools and analytical data.
eXp Realty
They were founded in 2009 and are one of the fastest-growing real estate brokerages in the industry, having the highest number of transactions in 2021. eXp Realty is headquartered in Bellingham, Washington.
TD Ameritrade has been acquired by Charles Schwab. Now you'll get access to thinkorswim® trading platforms and robust trading education at Schwab, along with great service, a commitment to low costs, and a wide range of wealth management and investing solutions.
Which broker is the best in USA?
- Best Overall: Fidelity.
- Best for Low Costs: Fidelity.
- Best for Beginners: Charles Schwab.
- Best for Advanced Traders: Interactive Brokers.
- Best for ETFs: Fidelity.
- Best for Options Trading: tastytrade.
- Best for International Trading: Interactive Brokers.
- Charles Schwab.
- Fidelity Investments.
- Interactive Brokers.
- Ally Invest.
- E-Trade Financial.
- Firstrade.
- Firstrade.
- Webull.
Best Overall - Zerodha
Zerodha, a top discount broker, excels in trading and demat account services. Positive reviews, a user-friendly interface, affordable fees, diverse investment options, and useful features like technical indicators and advanced charting tools make it the best choice overall.
Most investors, Warren Buffett included, use brokers and pay fees as they cannot simply go to the market themselves and buy shares. They need a middleman who has access to the market to execute the order, and they charge a fee for the service. He doesn't use a platform.
A billionaire may use some or all of these services, but for buying stocks, they may use a prime brokerage specifically to borrow securities for short selling (making money from stocks when they go down) or borrowing large amounts of money to buy stocks on margin.
Interactive Brokers has long been known as a brokerage for professionals and active investors, with a powerful trading platform and good trade execution.
Charles Schwab (ticker: SCHW) will now automatically offer wealthy customers access to financial advisors and personalized services, a move the company hopes will boost its business with a lucrative and fast-growing client segment.
eXp Realty is the fastest-growing real estate brokerage in the world. We are breaking down boundaries through our unique cloud-based model, the unrivaled state-of-the-art tools and technology, and a global community of agents, leadership and partners.
1 firm for millionaires, serving 38% of America's millionaire households, and has 17% overall share of assets for $1 million-plus households. Charles Schwab/TD Ameritrade, Vanguard, Bank of America Merrill, Morgan Stanley/ETrade, and JPMorgan Chase are among other leaders for these wealthy clients.
In most situations, you will find what you need at Fidelity. There are a few downsides. Fidelity does not offer cryptocurrency investing. The company is also missing some features found on other investment platforms, like futures trading and paper trading, where you can practice trading.
Is Fidelity or Schwab safer?
The reality is that either Schwab or Fidelity is an excellent broker choice for investors. The differences between the two are very small and may only matter to those looking for very specific offerings such as futures trading or a certain mutual fund.
Bottom Line. If you want to actively trade within your accounts, Fidelity might be the better option. However, if you want to focus more on index investing, or you want to use a robo-advisor, Vanguard has a slight edge.
Top Brokerage Firms by AUM and Number of Accounts | ||
---|---|---|
Rank | Firm | AUM |
1 | Fidelity Investments | $12.9 Trillion |
2 | Charles Schwab | $8.56 Trillion |
3 | Vanguard | $8.2 Trillion |
Overall, we found that Schwab is a great choice for self-directed investors and traders who want access to multiple platforms, plenty of tools, and full banking capabilities. Vanguard works well for buy-and-hold investors who may not be as tech-savvy and who want access to professional advice.
The truth is that either broker is suitable for a long-term investor, depending on one's needs. Vanguard could be a better choice for passive investors who want index funds; Charles Schwab offers more features that appeal to active investors. Ultimately, the better brokerage is dependent on how you invest.
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