A brokerage account lets you buy and sell stocks, ETFs, mutual funds, and bonds. The best brokerage accounts offer $0 commissions, no minimums, and strong educational resources. With the shift to commission-free trading in recent years, the competition among brokers has never been more intense. Choosing the right platform is one of the most important financial decisions you will make, as it determines your investment options, fees, and overall experience.
Best Overall: Fidelity
Fidelity takes the top spot among the best brokerage accounts for its unbeatable combination of $0 commissions, no account minimum, and excellent research tools. Fidelity offers zero-expense-ratio index funds, a highly rated mobile app, and robust educational content. Whether you are buying your first stock or managing a complex portfolio, Fidelity delivers a premium experience at no cost.
Best for IRAs: Charles Schwab
Charles Schwab offers more than two times the number of no-transaction-fee mutual funds compared to Fidelity, making it an ideal choice for retirement investors. Schwab also provides a robo-advisor service, Schwab Intelligent Portfolios, and a full suite of retirement planning tools. If you are opening an IRA, Schwab should be at the top of your list of best brokerage accounts.
Best for Beginners: Robinhood
Robinhood pioneered commission-free trading and remains the easiest platform to use. With no account minimum, fractional shares, and cryptocurrency trading, it is perfect for new investors. Robinhood also offers a 1% IRA match on contributions and rollovers. The clean, simple interface removes intimidation from investing, making it one of the best brokerage accounts for getting started.
Best Low-Cost: Vanguard
Vanguard is the pioneer of passive investing and offers some of the lowest-cost index funds and ETFs in the industry. With no account minimum for most products, Vanguard is ideal for investors who prioritize low expense ratios above all else. While the app and platform are less flashy than competitors, the cost savings speak for themselves.
Best for Active Traders: Interactive Brokers
Interactive Brokers offers the lowest margin rates in the industry, an advanced trading platform, and access to global markets. Active traders and professionals will appreciate the sophisticated tools, competitive pricing, and extensive research. If you trade frequently, Interactive Brokers is among the best brokerage accounts for your needs.
Best Robo-Advisor: Wealthfront
Wealthfront provides automated portfolio management with tax-loss harvesting and a $500 minimum. It is an excellent choice for hands-off investors who want professional-grade portfolio management without hiring a human advisor. Wealthfront rounds out our list of the best brokerage accounts for those who prefer a set-it-and-forget-it approach.
Comparison Table
| Broker | Commissions | Account Minimum | App Rating | Fractional Shares |
|---|---|---|---|---|
| Fidelity | $0 | $0 | 4.8/5 | Yes |
| Charles Schwab | $0 | $0 | 4.7/5 | Yes |
| Robinhood | $0 | $0 | 4.6/5 | Yes |
| Vanguard | $0 | $0 | 4.3/5 | No |
| Interactive Brokers | $0 | $0 | 4.5/5 | Yes |
| Wealthfront | $0 | $500 | 4.6/5 | No |
Types of Accounts Available
The best brokerage accounts support a wide variety of account types including taxable brokerage accounts, Traditional IRAs, Roth IRAs, 401(k) rollovers, custodial accounts, and joint accounts. This flexibility allows you to consolidate all of your investing under one roof, simplifying management and tracking.
How to Choose the Best Brokerage Account
Consider fees first, then evaluate investment selection, available tools, customer service quality, and the mobile app experience. The best brokerage accounts excel across all of these dimensions. Start by identifying your investment goals and preferred account type, then match your needs to the broker that serves them best.
Getting Started
Opening an account with any of the best brokerage accounts takes just minutes. The process is simple: open an account online, fund it via bank transfer, choose your first investments (start with a total market index fund), and set up recurring deposits. Automating your investments ensures you stay consistent regardless of market conditions.
Disclaimer: Rates and terms are subject to change. This content is for informational purposes only and does not constitute financial advice. Always verify current rates directly with the financial institution. Aurwallet is not affiliated with any of the products mentioned.