Most online brokers offer two separate trading platforms in the form of regular users and power users. For regular users, trading platforms are relatively similar. Users specify the action type, number of shares, ticker symbol, order type and order duration. Each broker will then allow you to place market and limit orders, and each will also offer to handle stop, stop-limit and trailing stop orders. On the other hand, power users are categorized by large portfolio size or incur a large number of trades in a period. These users are granted a broader array of trading tools.

Top online brokers will give you fundamental data and research tools that hope to perform due diligence before purchasing an investment holding. Their data is comprehensive and typically result from trusted data sources. At the very least, price and volume data is provided, and chart options typically include lin, open-high-low-close, and candlestick.

Financial statements could also be provided.

Scottrade 

Scottrade provides a wealth of research information for account holders. The summary tab provides the latest company news and presents the upcoming dividend payment information on the company website. The fundamental tab and data elements are broke down into several categories — financial strength and management effectiveness, profitability, valuation, etc. As well, Scottrade offers media figures for company peers and the industry average for each of the data points offered.

Fidelity 

Fidelity is one of the most frequently used online discount brokers. Upon logging onto the website, you are provided with a list of your accounts, along with subtotals for each and a total portfolio value. Within that analysis, data is broken down between stock and fixed incoming holdings, granting a deeper breakdown of your asset allocation. The research section also reflects a quick snapshot of the tools available to Fidelity users, such as a one-year chart, and latest research reports. An additional bonus of Fidelity is the ability to compare up to five companies in a side by side view. These comparisons can be drawn on dividends, valuation measures, growth figures, and profitability ratios.

Charles Schwab 

Charles Schwab embodies one of the most simple, straightforward web-based platforms. The portfolio performance page reveals a breakdown of your current portfolio and provides some tips, while the accounts area provides all relevant information for the current holdings in your account.

TD Ameritrade

TD Ameritrade is unique in its ability to let you place conditional orders, that can combine multiple orders. For instance, an investor can set a condition for which after the execution of the first order, the second order will be canceled. Further, TDA is capable of handling stock, ETF, options, bond, mutual fund, and even futures and foreign exchange trades.

Vanguard

Vanguard is one of the newbies on the market. One of its main advantages is allowing investors to invest in Vanguard ETF funds without commission. Vanguard mutual funds typically see low expense ratios, hence purchasing these funds through a Vanguard brokerage account keeps the costs at a minimum.

While all of these aforementioned top 5 popular online brokers reflect advantages of their own — in the end, the choice is up to you. Individual preference could be placed on research reports, tools, or customer service. Further, even if you are not happy with your initial choice, switching brokerages is easy.

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