View all news

Charles Schwab Named No. 1 Online Broker by Investor’s Business Daily


Charles Schwab has been named the top online brokerage firm by Investor’s Business Daily (IBD).In its 11th annual report of the Best Online Stock Brokers, Schwab ranked first in seven of the 18 performance categories: Customer Service, Investment Research, Timely Information on Market Shifts, Incentives/Discounts/Pricing, Up-to-the-Minute Data on Inflation & Other Market Influences, Availability of Account Types, and Trade Ideas for a Down Market. Companies named to the list were selected based on objective data from more than 3,446 investors.

“Investors today have a wide range of choices and high expectations when it comes to their financial partner,” said Jonathan Craig, Managing Director, Head of Investor Services & Marketing at Charles Schwab. “This recognition is especially gratifying to see because it is derived directly from conversations with clients who experience Schwab every day. These results are a testament to our ‘through clients’ eyes’ strategy and our ability to provide the great service, value, and innovative solutions investors deserve – at low costs. As we bring together the strengths of Schwab and TD Ameritrade, clients will have an even broader array of resources to help them pursue their financial goals, backed by our long-standing commitment to provide the best experience in investing, trading and wealth management.”

Schwab is the only broker to place in the top three in Overall Customer Experience in all 11 years of the survey’s history. In the 2023 ranking, Schwab also ranked in the top three in the following sub-categories in the IBD report: Portfolio Analysis & Reports, Coverage of Pre-Market/After-hours Trading, Options Trading Platform, Trade Ideas, and Educational Resources.

TD Ameritrade, which Charles Schwab acquired in 2019, ranked No. 3 overall and earned top honors in the following performance categories: Trade Execution Speed/Price, Website Security, Equity Trading Platform, Site Performance, Options Trading Platform and Educational Resources. Schwab will begin transitioning TD Ameritrade accounts in February and plans to transition the vast majority of accounts to Schwab by the end of the year.

“IBD congratulates Charles Schwab for consistently ranking among the top overall brokers since the Best Online Brokers report first launched 11 years ago,” said Susan Warfel, Managing Editor at IBD. “Schwab’s clients value the services it provides, made clear by the firm’s high ratings from survey respondents across a wide range of categories.”

Susan Warfel and IBD are not clients of Schwab and were not compensated by Schwab for their comments. The experience described may not be the experience of all clients and is no guarantee of future performance or success. IBD’s complete 2023 report on the Best Online Stock Brokers is available at Schwab paid a licensing fee for use of this award and logos.

Investor’s Business Daily 2023 Best Brokers Methodology

IBD again collaborated with its respected polling partner, TechnoMetrica Market Intelligence, to measure investor sentiment toward brokers' performance in a number of critical service areas. Since 2012, IBD has asked investors to rate their primary online broker based on the most important and desirable broker attributes. This year's study follows the two-phase methodology employed in previous years. Both phases use online surveys to collect data.

Phase I, conducted between August and September 2022, examined a total of 29 different attributes to determine which features and services offered by online brokers are most important to investors. Based on these results, the attributes were narrowed to 18 and assigned weights to compute the Best Overall Experience Index for each broker. The attributes for the 2023 Best Online Brokers were (in order of customer importance): Trade Execution Speed/Price, Website Security, Equity Trading Platform, Site Performance, Customer Service, Investment Research, Research Tools, Mobile Trading Platforms/Apps, Portfolio Analysis & Reports, Timely Information on Market Shifts, Coverage of Pre-market & After-hours Trading, Incentives/Discounts/Pricing, Options Trading Platform, Trade Ideas, Educational Resources, Up-to-the-Minute Data on Inflation & Other Market-influencing Statistics, Availability of Account Types and Trade Ideas for a Down Market.

Moving into Phase II (September to November 2022), the study measured consumers' experience and satisfaction with their primary online broker based on these 18 specific attributes. To qualify for ranking on the Best Online Brokers list, a broker must have had at least 125 customers participate in Phase II. Seven brokers met this threshold: Charles Schwab, Fidelity, TD Ameritrade (a subsidiary of The Charles Schwab Corporation), E-Trade Financial (part of Morgan Stanley), Vanguard, Robinhood and Interactive Brokers.


Investing involves risk including loss of principal.

About Charles Schwab

At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at Follow us on Twitter, Facebook, YouTube, and LinkedIn.

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 33.8 million active brokerage accounts, 2.4 million corporate retirement plan participants, 1.7 million banking accounts, and approximately $7.05 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC,, and their affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at

TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.


Michael Cianfrocca
Charles Schwab
(415) 667-0344

Source: The Charles Schwab Corporation

Multimedia Files:

View all news