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The Best Discount Brokers in 2024

Overview of the Top Discount Brokers in 2024

Our comprehensive table provides a quick comparison of the top discount brokers in 2024, helping you make an informed choice. It includes key details such as the minimum deposit requirements, fee classifications, availability of credit/debit card funding options, and the typical time required to open an account with each broker. This overview will assist you in finding the best broker that suits your financial needs and preferences.

BrokerMinimum DepositFees ClassCredit/Debit CardTime to Open an Account
Interactive Broker$0 LowNo1-3 days
tastytrade$0 LowNo1 day
Alpaca Trading$0LowNo1 day
E*Trade$0 LowNo1-3 days
Webull$0 LowYes1 day
Saxo$0 AverageYes1 day
Fidelity Investments$0 LowNo1-3 days
MEXEM$0 AverageNo1 day
TD Ameritrade$0 LowOnly debit cards1-3 days
J.P. Morgan$0 LowNo1 day

Trading Fees at the Best Discount Brokers

Explore the low trading fees offered by the best discount brokers. Compare costs to maximize your investment returns and find the most cost-effective broker for your needs.

BrokerUS StockUS Stock Index OptionsUK StockMutual Fund
Interactive Broker$1.0 $6.5 $3.8 $15.0
tastytrade$0.0 $7.5 Not availableNot available
Alpaca Trading$0.0 Not availableNot availableNot available
E*Trade$0.0 $6.5 Not available$20.0
Webull$0.0 $5.5 Not availableNot available
Saxo$1.6 $20.0 $3.8 $0.0
Fidelity Investments$0.0 $6.5 $11.3 $37.5
MEXEM$2.5 $20.0 $3.1 $5.4
TD Ameritrade$0.0 $6.5 Not available$50.0
J.P. Morgan$0.0 $6.5 Not available$25.0

Non-Trading Fees at the Best Discount Brokers

Non-trading fees are charges that are not directly tied to individual trades. These typically include account maintenance, deposit and withdrawal fees, and inactivity fees. The table below provides information on the non-trading fees of the best discount brokers, helping you make an informed choice.

BrokerAccount FeeDeposit FeeWithdrawal FeeInactivity Fee
Interactive BrokerNo$0 $0 No
tastytradeNo$0 $0 No
Alpaca TradingNo$0 $0 No
E*TradeNo$0 $0 No
WebullNo$0 $0 No
SaxoNo$0 $0 No
Fidelity InvestmentsNo$0 $0 No
MEXEMNo$0 $0 No
TD AmeritradeNo$0 $0 No
J.P. MorganNo$0 $0 No

Product Availability at the Best Discount Brokers

Discover the wide range of products available at the best discount brokers. From stocks and bonds to mutual funds and ETFs, these brokers offer a comprehensive selection to meet all your investment needs. Compare product availability to ensure you choose the broker that best aligns with your financial goals.

BrokerStocksForexETFsFunds
Interactive BrokerYesYesYesYes
tastytradeYes NoYesNo
Alpaca TradingYes NoYes No
E*TradeYes YesYesYes
WebullYesYesYesNo
SaxoYesYesYesYes
Fidelity InvestmentsYesYesYesYes
MEXEMYesYesYesYes
TD AmeritradeYesYesYesYes
J.P. MorganYesYesYesYes

Can I Trust These Best Discount Brokers?

When choosing a discount broker, trust is paramount. We evaluate each broker’s regulatory status, protections available to investors, customer reviews, and track record for transparency and reliability. Learn about the measures these brokers take to protect your investments and ensure a secure trading environment.

BrokerEstablishment YearTop-tier RegulatorsInvestor ProtectionInvolved in the scandal
Interactive Broker1978FCA in the UK, SEC in the US, and ASIC in Australia$500k (up to $250k on cash) to US clients.No
tastytrade2017SEC and FINRA in the US, ASIC in the Australia$500k (including $250k for claims for cash) to the global clients except for Australian clients.No
Alpaca Trading2015SEC in the United States$500k (including $250k for claims for cash) to the USNo
E*Trade1982SEC and FINRA in the US$500k (including $250k for claims for cash) to the USNo
Webull2017SEC, FINRA in the US$500k (securities up to $500k, cash up to $250k)No
Saxo1992FSA in Denmark, FCA in the UK, FINMA in Switzerland and ASIC in Australia$100k cash and €20k securities to most EU clients. No
Fidelity Investments1946SEC in the US$500k (securities up to $500k, cash up to $250k)No
MEXEM2018CySEC in the CyprusUp to €20000No
TD Ameritrade1974SEC, CFTC in the US, SFC in Hong Kong, and MAS in Singapore$500k (including $250k for claims for cash) to the US, £85k to the UK, and a minimum €20k to EU countriesNo
J.P. Morgan1871SEC, CFTC, and FINRA in the US$500k (securities up to $500k, cash up to $250k)No

The Best Discount Brokers Snapshot

Interactive Brokers
Interactive Brokers
Minimum Deposit$0                                                                                                                                         
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsBank transfer
Withdrawal MethodsBank transfer
Time to Open an Account1-3 days
Demo Account✔️
Customer ServicesAvailable 24/5 via live chat, phone, and email
Tastytrade
Tastytrade
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing
Inactivity Fee
Deposit MethodsBank transfer
Withdrawal MethodsBank transfer
Time to Open an Account1 day
Demo Account
Customer ServicesAvailable 24/5 via live chat, email, and fax
Alpaca Trading
Alpaca Trading
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing
Inactivity Fee
Deposit MethodsBank wires
Withdrawal MethodsBank wires
Time to Open an Account1 day
Demo Account✔️
Customer ServicesAvailable 24/7 via email
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsBank transfer
Withdrawal MethodsBank transfer
Time to Open an Account1-3 days
Demo Account
Customer ServicesAvailable 24/7 via live chat, phone, and email
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsWire transfer, payments through the automated clearing house ACH
Withdrawal MethodsWire transfer, payments through the automated clearing house ACH
Time to Open an Account1 day
Demo Account✔️
Customer ServicesAvailable 24/7 via live chat, phone, and email
Minimum Deposit$0
Trading Fee ClassAverage
Fractional Share Dealing
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsBank transfer, Credit/debit cards
Withdrawal MethodsBank transfer
Time to Open an Account1 day
Demo Account✔️
Customer ServicesAvailable 24/5 via live chat, phone, and email
Fidelity Investment
Fidelity Investment
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsBank transfer, PayPal for a deposit, Wise for a deposit, Revolut for a deposit, Other Electronic wallets
Withdrawal MethodsBank transfer, Electronic wallets
Time to Open an Account1-3 days
Demo Account✔️
Customer ServicesAvailable 24/7 via live chat, phone, and email
Minimum Deposit$0
Trading Fee ClassAverage
Fractional Share Dealing✔️
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsBank transfer / ACH / Credit or debit card / E-wallet transfer
Withdrawal MethodsBank transfer
Time to Open an Account1 day
Demo Account✔️
Customer ServicesAvailable 24/5 via live chat, phone, and email
TD Ameritrade
TD Ameritrade
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing
OTC Share Dealing✔️
Inactivity Fee
Deposit MethodsBank transfer
Withdrawal MethodsElectronic Funds Transfer (ACH), Wire Transfer, Physical Check, Account Transfer
Time to Open an Account1-3 days
Demo Account✔️
Customer ServicesAvailable 24/7 via live chat, phone, and email
J.P. Morgan
J.P. Morgan
Minimum Deposit$0
Trading Fee ClassLow
Fractional Share Dealing✔️
OTC Share Dealing
Inactivity Fee
Deposit MethodsBank transfer
Withdrawal MethodsBank transfer
Time to Open an Account1 day
Demo Account
Customer ServicesAvailable 24/7 via live chat, phone, and email

Methodology

To choose the best discount broker, we thoroughly check, verify, and compare the elements that we consider to be the most important to consider when choosing an excellent broker. This includes the benefits, drawbacks, and overall grades determined by our research. Our goal is to help you find the ideal broker for your investor needs. You can read more about our methodology by visiting this page.

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