The Billionaires Plan

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Business Operations > Online Stock / Investment Management (regular)

Name	Description	Top Pros	Top Cons	Best For	Highlights	Commissions Per Trade
Wealth simple Rating: 96%	Wealthsimple is backed by a team of world-class financial experts and the best technology talent. Their Investment Advi read more	first $5,000 managed free (NerdWallet promotion), low ETF expense ratios, daily tax-loss harvesting, direct indexing read more	no fractional shares, no large-balance discounts	hands-off investors, taxable accounts, free financial tools,, even if you don't have a Wealthfront account, 529 college savings plan management read more	low fees, truly robust planning tools	0.25%
TradeStation Rating: 88%	TradeStation Technologies is a software development company which offers analytics subscriptions that self-directed inve read more	high-quality trading platforms, comprehensive research, low commissions, advanced tools, active trader community	no commission-free ETFs, minimum balance requirement for active trading platform	advanced and aspiring traders, stock, options and futures traders, active stock traders	discount trading, comprehensive research, active trader community, noteworthy platforms	$5.00
Betterment Rating: 97%	Betterment is an online financial advisor that provides portfolio-based investment options for people looking to simplif read more	no account minimum, fractional shares limit uninvested cash, robust goal-based tools	no direct indexing	hands-off investors, retirement investors, users with low balances, those who want automatic rebalancing, users who like goal-based tools read more	low-cost access to human experts and a strong lineup of investments and tools	0.25%
Ameritrade Rating: 97%	TD Ameritrade is one of the biggest and oldest names in online brokerages. For over 40 years, TD Ameritrade has been pro read more	large investment selection, free research, high-quality trading platforms, no account minimum, good customer support	higher trade commission, costly broker-assisted trades, high short-term ETF trading fee	beginner investors, advanced traders, investor education / advice	large selection of commission-free ETFs and funds	$6.95
Interactive Brokers Rating: 95%	Interactive Brokers Group, Inc. founding member has completed its a 41 as a Broker-Dealer with consolidated equity capit read more	low commissions, quality trading platform, advanced tools, low margin rates, wide investment selection	inactivity fees, complex pricing, minimal educational resources	advanced traders, day traders, penny stock traders, margin accounts, options trading, research and data	discounts for frequent traders among best platforms	$0.01
Fidelity Investments Rating: 99%	Fidelity Investments is a privately-owned investment management company that was established in 1946 as a mutual fund co read more	low commissions, large selection of research providers, strong customer service	high account minimum, trade minimum for active trading platform	retirement investors, active traders, premium research, low fees, fund selection	strong trading platform, low commissions	$4.95
Robinhood Rating: 90%	Founded in 2013, Robinhood is an online broker that has raised $539 million in venture capital funding. The brokerage, w read more	no commissions on stock trades, no account minimum, streamlined interface	no retirement accounts, no mutual funds or bonds, limited customer support	high-yield checking and savings, mobile users, individual taxable accounts, margin accounts, cryptocurrency	no-frills, free trading app for beginners	$0
Vanguard Rating: 83%	Started in 1975 Vanguard has grown to become the world’s largest no-load mutual fund company. While Vanguard is mostly read more	large mutual fund selection, over 50 commission-free ETFs, the leader in low-cost funds, helpful customer support	high trade commissions, no trading platform or tools, limited research and data	long-term or retirement investors, those who prefer low-cost investments, index fund and ETF investors, investors with high account balances read more	commission-free: 1,800+ ETFs and 3,080+ mutual funds	$7
Ally Invest Rating: 99%	Ally Invest is part of a diversified financial services company that includes banking and lending. Brokerage customers t read more	low commissions, no account minimum, strong web-based platform, robust research and tools	the standard website is dated and difficult to navigate, portfolio performance reports cannot be customized	active traders, options traders, Forex traders	impressive platform and research, low commissions	$4.95
E-Trade Rating: 96%	E-Trade prides itself on being the one-stop trading and banking resource for all types of traders, from the investing be read more	easy-to-use tools, large investment selection, excellent customer support, access to extensive research, advanced mo read more	higher commissions for low-volume traders, minimum balance requirement for active trading platform	frequent traders, beginner investors, commission-free exchange-traded funds, research and data, retirement planning assistance read more	broad selection of investment options, power trading platforms and research providers	$6.95

Wealth simple

Top Pros	first $5,000 managed free (NerdWallet promotion), low ETF expense ratios, daily tax-loss harvesting, direct indexing on accounts over $100,000, automatic rebalancing
Top Cons	no fractional shares, no large-balance discounts
Overall Rating	96%
Best For	hands-off investors, taxable accounts, free financial tools,, even if you don't have a Wealthfront account, 529 college savings plan management
Highlights	low fees, truly robust planning tools
Commissions Per Trade	0.25%

Wealthsimple is backed by a team of world-class financial experts and the best technology talent. Their Investment Advisory Committee is recognized thought leaders in the investment community. They play an advisory role in Wealthsimple's investment management process and serve as a sounding board for Wealthsimple's management team.

TradeStation

Top Pros	high-quality trading platforms, comprehensive research, low commissions, advanced tools, active trader community
Top Cons	no commission-free ETFs, minimum balance requirement for active trading platform
Overall Rating	88%
Best For	advanced and aspiring traders, stock, options and futures traders, active stock traders
Highlights	discount trading, comprehensive research, active trader community, noteworthy platforms
Commissions Per Trade	$5.00

TradeStation Technologies is a software development company which offers analytics subscriptions that self-directed investors and traders can use to chart, analyze and design back-tested strategies for Equities, Options, Futures and Forex markets.

Betterment

Top Pros	no account minimum, fractional shares limit uninvested cash, robust goal-based tools
Top Cons	no direct indexing
Overall Rating	97%
Best For	hands-off investors, retirement investors, users with low balances, those who want automatic rebalancing, users who like goal-based tools
Highlights	low-cost access to human experts and a strong lineup of investments and tools
Commissions Per Trade	0.25%

Betterment is an online financial advisor that provides portfolio-based investment options for people looking to simplify investing. Founded in 2008 and officially launched in 2010, Betterment made waves in the online investing industry by focusing on algorithmic portfolio investing. With a focus on ETF-based portfolios, Betterment works to bring their clients automatic diversification and tax-efficiency.

Ameritrade

Top Pros	large investment selection, free research, high-quality trading platforms, no account minimum, good customer support
Top Cons	higher trade commission, costly broker-assisted trades, high short-term ETF trading fee
Overall Rating	97%
Best For	beginner investors, advanced traders, investor education / advice
Highlights	large selection of commission-free ETFs and funds
Commissions Per Trade	$6.95

TD Ameritrade is one of the biggest and oldest names in online brokerages. For over 40 years, TD Ameritrade has been proud to help the clients pursue their financial goals from guidance, to powerful trading tools and retirement resources.

Interactive Brokers

Top Pros	low commissions, quality trading platform, advanced tools, low margin rates, wide investment selection
Top Cons	inactivity fees, complex pricing, minimal educational resources
Overall Rating	95%
Best For	advanced traders, day traders, penny stock traders, margin accounts, options trading, research and data
Highlights	discounts for frequent traders among best platforms
Commissions Per Trade	$0.01

Interactive Brokers Group, Inc. founding member has completed its a 41 as a Broker-Dealer with consolidated equity capital of more than $7 billion. The company conducts its business on over 120 market destinations worldwide and together with its affiliates execute over 848,000 trades per day.

Fidelity Investments

Top Pros	low commissions, large selection of research providers, strong customer service
Top Cons	high account minimum, trade minimum for active trading platform
Overall Rating	99%
Best For	retirement investors, active traders, premium research, low fees, fund selection
Highlights	strong trading platform, low commissions
Commissions Per Trade	$4.95

Fidelity Investments is a privately-owned investment management company that was established in 1946 as a mutual fund company. Based in Boston, Massachusetts, it is one of the largest investment management firms in the United States, with over 26 million customers, $6.5 trillion in total customer assets, and more than $2.4 trillion in global assets under management.

Robinhood

Top Pros	no commissions on stock trades, no account minimum, streamlined interface
Top Cons	no retirement accounts, no mutual funds or bonds, limited customer support
Overall Rating	90%
Best For	high-yield checking and savings, mobile users, individual taxable accounts, margin accounts, cryptocurrency
Highlights	no-frills, free trading app for beginners
Commissions Per Trade	$0

Founded in 2013, Robinhood is an online broker that has raised $539 million in venture capital funding. The brokerage, which appeals primarily to young Millennial do-it-yourself investors, is best known for offering $0 stock, ETF, options, and cryptocurrency trades alongside an easy-to-use website and mobile trading app.

Vanguard

Top Pros	large mutual fund selection, over 50 commission-free ETFs, the leader in low-cost funds, helpful customer support
Top Cons	high trade commissions, no trading platform or tools, limited research and data
Overall Rating	83%
Best For	long-term or retirement investors, those who prefer low-cost investments, index fund and ETF investors, investors with high account balances
Highlights	commission-free: 1,800+ ETFs and 3,080+ mutual funds
Commissions Per Trade	$7

Started in 1975 Vanguard has grown to become the world’s largest no-load mutual fund company. While Vanguard is mostly known for its low-cost index funds, they also offer a variety of low-cost, actively managed mutual funds and exchange-traded funds

Ally Invest

Top Pros	low commissions, no account minimum, strong web-based platform, robust research and tools
Top Cons	the standard website is dated and difficult to navigate, portfolio performance reports cannot be customized
Overall Rating	99%
Best For	active traders, options traders, Forex traders
Highlights	impressive platform and research, low commissions
Commissions Per Trade	$4.95

Ally Invest is part of a diversified financial services company that includes banking and lending. Brokerage customers tend to be focused on options trading and tools, but you can trade a wide variety of asset classes on the InvestLIVE platform. The prevailing focus for the team at Ally is providing tools that are convenient and easy to use at an affordable price, with an eye on its fast-growing millennial user base.

E-Trade

Top Pros	easy-to-use tools, large investment selection, excellent customer support, access to extensive research, advanced mobile app, reduced commissions for frequent traders
Top Cons	higher commissions for low-volume traders, minimum balance requirement for active trading platform
Overall Rating	96%
Best For	frequent traders, beginner investors, commission-free exchange-traded funds, research and data, retirement planning assistance
Highlights	broad selection of investment options, power trading platforms and research providers
Commissions Per Trade	$6.95

E-Trade prides itself on being the one-stop trading and banking resource for all types of traders, from the investing beginner to the high-rolling seasoned trader. For the beginner, E-Trade offers tons of educational tools and guidance. Its browser, desktop, and mobile platforms are all easy to navigate and customize.