The best in investing

Fidelity Investments is a great choice for many different types of investors no matter if you’re an experienced trader or just getting started. Fees and commissions are among the lowest in the industry and you’ll have access to more than 3,000 no-transaction-fee mutual funds as well as more than 7,000 stocks and ETFs that can be purchased in fractional shares, a favorite feature of beginner investors. 

Their customer support is also top-notch, so you shouldn’t have any trouble finding answers to the questions you may have.

Fidelity Investments is a great fit for many investors and beginners are no exception. You’ll find low trading costs and no account fees, thousands of no-transaction-fee mutual funds, and a wide offering of stocks and ETFs that can be purchased in fractional shares, which is nice for those starting with small sums. 

Fidelity also offers a top-notch customer experience, so those investors just getting started will really appreciate that.

Interactive Brokers is a great choice for advanced traders because of its many trading platforms and access to a wide variety of securities in global markets, among other reasons. Its flagship Trader Workstation platform was designed for active traders and allows you to trade stocks, options, futures, currencies, bonds and funds on over 150 markets worldwide. 

You’ll also find other mobile platforms that allow you to trade on the go, or invest based on ESG initiatives. If you’re a trader that uses leverage, IB offers margin loans at rates that are among the lowest in the industry.

Charles Schwab has been a top broker for a long time, but its research and various tools really set it apart from other brokers. You’ll get free access to independent research from respected providers such as Morningstar and CFRA, while Schwab’s various planning tools can help you stay on track whether you’re saving for retirement or a child’s education. 

There’s also a vast offering of educational content that ranges from videos and podcasts to in-person workshops around the country.

Fidelity offers many different types of retirement accounts, so you should find what you’re looking for whether you’re in search of an individual or business account. You’ll find well-known plans such as traditional and Roth IRAs, as well as solo 401(k)s and SEP IRAs. 

Fidelity also offers thousands of no-transaction-fee mutual funds and a strong research offering that can help you identify the best funds for you. Plus, Fidelity doesn’t charge the annoying account fees that can often be found at other brokers.

Investors looking for a robo-advisor would be hard-pressed to find a better choice than Betterment. You’ll get access to low-cost funds across various asset classes while also getting one of the best cash management accounts in the industry. Betterment also offers automatic rebalancing when your portfolio drifts from its desired allocation, as well as daily tax-loss harvesting, which can save you money. 

If you opt for the premium tier, you’ll get regular access to human financial advisors, or you can purchase this on an as-needed basis.

SoFi Automated Investing takes its low-cost focus to the extreme by eliminating the annual management fee altogether (* this has recently changed, see below). You’ll also get low-fee funds in your portfolio and access to financial advisors at no extra cost. You could end up paying just a fraction of the cost that you would at other robo-advisors. 

Of course, you’ll also find key features like automatic rebalancing and a solid cash management account, making SoFi Automated Investing a great robo-advisor that won’t break the bank. 

(* Note: At the time Bankrate evaluated robo-advisors, SoFi Automated Investing offered their service with no management fee. SoFi has since introduced a new robo-advisor platform named SoFi Robo Investing that lifted the management fee to 0.25 percent annually, still on the low end of what competitors are charging. Other top low-cost robo-advisors based on our research include Schwab Intelligent Portfolios and Interactive Advisors.)

Betterment’s portfolio management is top-notch, with the robo-advisor offering a variety of low-cost funds across various asset classes and including premium features such as tax-loss harvesting for all clients. 

Whether you want your portfolio focused on technology companies, socially responsible companies or cryptocurrency, Betterment has options for you. If you’re part of Betterment’s premium tier, you’ll also get access to human financial advisors.

E-Trade offers investors not one, but two mobile apps to choose from depending on what you’re looking for. Its basic mobile app allows you to trade stocks, ETFs, mutual funds and options from anywhere, and you’ll also be able to easily transfer money, deposit checks or pay bills through the app. 

The Power E-Trade app caters more to advanced traders and allows you to execute customized options trades and research new ideas using interactive charts and popular technical studies. Both apps are available through Apple’s App Store or Google Play.

Charles Schwab has become one of the largest financial advisors and has a track record of investor-friendly policies. Clients who opt to work with an advisor can get help with financial planning, investment management, retirement planning, estate planning, tax planning and more.

You’ll need at least $500,000 to get started, above the level that others require, but Schwab charges less than many traditional advisors. Being able to access a wide range of financial services at an attractive price makes Schwab a great choice for anyone looking for an online financial advisor.