Are all brokers discount brokers?

By that definition, all brokers are discount brokers now. Even the traditional full-service brokers like T. Rowe Price, Fidelity, J.P. Morgan Chase, and Charles Schwab have a discount broker offering differentiated from their full-service offerings.

What is the difference between full-service and discount brokers?

There's a big distinction between full-service and discount brokers. You'll find differences in the level and types of services as well as costs when you consider a full-service vs. discount broker. The choice you make can have a big impact on your investing experience as well as how much you have to pay to invest.

Do discount brokers charge commissions?

The discount brokers below charge no commissions and low or no account fees. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

What makes a good discount brokerage firm?

Besides lowest trading fees and non-trading fees, a good discount brokerage firm should also offer access to a lot of markets and products, because providing low fees in more than one asset class is not an easy job. All brokers in our list offer real stocks, but we also looked into whether you can trade currencies, options or mutual funds.