IBD Releases Eighth Annual Survey of the Best Online Brokers

Investor’s Business Daily (IBD), a leading financial news and research organization, today announced the results of its eighth annual investor survey of the Best Online Brokers. Notably, Fidelity reclaimed its position as the leader in Overall Customer Experience, making this the fifth time in six years that it secured the top spot, narrowly edging out Charles Schwab. This year Fidelity ranked among the top five brokers in 14 of the 15 categories and ranked first or second in 11 categories while Charles Schwab was among the top five brokers in all 15 categories.

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A newcomer to the survey, Tastyworks, also put up a strong showing, ranking among the top five brokers in Overall Customer Experience as well as in 12 categories of performance. That included seven categories where it earned the top rating. Rounding out the top five brokers in Overall Customer Experience were TD Ameritrade and Interactive Brokers.

Five other brokers -- E-Trade, Robinhood, Merrill Edge, TradeStation and Vanguard-- all showed one or more areas of strength.

“Best Online Brokers is one of our most popular reports,” said Chris Gessel, Chief Content Officer of IBD. “The fact that this list is driven by brokers’ actual customers is key. Investors value different things, and with this list they can learn from people using these services day-in and day-out, which is very different than when an ‘expert’ comes in to test a service for a few minutes. Our survey offers real value.”

From the beginning, IBD’s Best Online Brokers list has been based solely on objective data drawn from the brokers’ own clients, unlike other broker rankings constructed from editors’ subjective selections. The result is honest, unfiltered feedback from investors, including everyone from beginning ETF investors to veteran options traders who actively use the brokers to execute their investment strategies.

Conducted in conjunction with respected polling partner TechnoMetrica Market Intelligence, this year’s study analyzed responses from more than 4,000 participating investors to determine which brokers met or exceeded expectations.

In a related survey of more than 1,000 investors, respondents indicated that Low Commissions & Fees, Website Security and Trade Reliability were the most important considerations for them.

As in past years, the rankings were determined through a two-phase process that assessed both investor priorities and their brokerage’s ability to satisfy them. During Phase I, survey respondents were queried regarding which attributes of an online broker were most and least important to them. In the next phase, they were asked to rate their primary broker on what were determined to be the 15 most important criteria. Weights were assigned to each attribute to compute an Overall Customer Experience Index for each broker. The top five overall and in each category are recognized as Best Online Brokers.

“This year’s top online brokers have raised the bar,” Gessel said. “Each of these leaders stands out in the eyes of their clients, which is quite an accomplishment at a time when great service and experience are paramount.”

2020 Survey Results:

Top Overall Customer Experience:

• Fidelity
• Charles Schwab
• Tastyworks
• Interactive Brokers
• TD Ameritrade

Low Commissions & Fees:

• Tastyworks
• Robinhood
• Interactive Brokers
• Charles Schwab
• Fidelity

Website Security:

• Charles Schwab
• Fidelity
• Interactive Brokers
• Tastyworks
• TD Ameritrade

Trade Reliability:

• Tastyworks
• Charles Schwab
• Fidelity
• Interactive Brokers
• TD Ameritrade

Site Performance:

• Tastyworks
• Fidelity
• Charles Schwab
• Interactive Brokers
• TD Ameritrade

Equity Trading Tools:

• Fidelity
• Charles Schwab
• TD Ameritrade
• TradeStation
• Interactive Brokers

Customer Service:

• Tastyworks
• Charles Schwab
• Fidelity
• TD Ameritrade
• E-Trade

Research Tools:

• Fidelity
• Charles Schwab
• TD Ameritrade
• Merrill Edge
• E-Trade

Broad Choice of Investments:

• Charles Schwab
• Fidelity
• Interactive Brokers
• TD Ameritrade
• Tastyworks

Low-Cost/Free ETF Trading:

• Fidelity
• Robinhood
• Charles Schwab
• Tastyworks
• Vanguard

Investment Research:

• Fidelity
• Charles Schwab
• TD Ameritrade
• Merrill Edge
• E-Trade

Mobile Trading Platforms/Apps:

• Fidelity
• Charles Schwab
• Interactive Brokers
• TD Ameritrade
• Tastyworks

Options Trading Platform:

• Tastyworks
• TD Ameritrade
• Interactive Brokers
• Charles Schwab
• TradeStation

Portfolio Analysis and Reports:

• Fidelity
• Charles Schwab
• Interactive Brokers
• Tastyworks
• TD Ameritrade

Trade Ideas:

• Tastyworks
• Fidelity
• Charles Schwab
• TD Ameritrade
• E-Trade

Educational Resources

• Tastyworks
• Fidelity
• TD Ameritrade
• Charles Schwab
• TradeStation

To learn more about this year’s winners and find brokerage profiles, please visit Investors.com/BestOnlineBrokers. To learn more about the rankings, read the details of the survey methodology.

Licensing and Reprints of the 2020 Best Online Brokers logo and accolades are available through IBD’s partner, The YGS Group. For more information, please contact YGS at IBDlicensing@theygsgroup.com or call 1-800-290-5460.

About IBD

Investor's Business Daily (IBD) is a leading financial news and research organization recognized for proprietary stock screens, comparative performance ratings and a record of identifying stock leaders as they emerge. The company takes a data-first approach to investing, educating investors about how to invest successfully using tested methods and sound research. IBD has honed its approach over the last 50 years to help investors make smarter decisions. Its stock lists have outperformed the S&P, and its presidential poll, the most accurate over the past four election cycles, was one of only two national polls to accurately predict the outcome of the 2016 Presidential Election. IBD offers a number of interactive stock research tools and provides information for investors of every level. To learn more about all that IBD has available, please visit www.investors.com.

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