The Best Online Brokerages of August 2026: $0 Trades and No Account Minimums
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The best online brokerages with no account minimums and $0 trades in August 2026 are Fidelity, Charles Schwab, Vanguard, E*TRADE, and SoFi Active Investing. Each one has a fast sign-up process, easy-to-use apps, and research tools for any investor type.
The right pick comes down to how you like to invest.
No account minimum means you can start with whatever you have, even a few dollars. Commission-free means buying and selling stocks and most ETFs costs you nothing. Here's how the five stack up, and who each one fits best.
1. SoFi Active Investing: best for beginners and mobile users
If I were starting my investing journey over, I'd probably begin with SoFi®. It's a great place to manage everything in one app, and it's about as low-cost and beginner-friendly as brokers get.
Why I like it: SoFi® keeps investing, banking, credit cards, and loans in a single, streamlined app. You can buy fractional shares and even get a 1% match on IRA contributions and rollovers. Terms apply. The research tools are a little light compared to traditional brokers, but the setup is hard to beat for simplicity. That focus on newcomers is why SoFi Active Investing won our Best Stock Broker for Beginners award for 2026.
Who it's best for: New investors, and anyone who already banks with SoFi®. It's the one I would hand a friend taking their first step.
2026 Award Winner
= Best
= Excellent
= Good
= Fair
= PoorThis brokerage is a clear standout for its well-rated mobile app and also has unique investment offerings like IPOs, options, and fractional shares.
$0 for stocks, $0 for options contracts
$0
Get 1% Match on contributions to a SoFi non-retirement Active Invest Account.
On SoFi Active Investing's Secure Website.
2. Fidelity: the best all-around brokerage
Fidelity is the best online brokerage for most people. And it's one I use personally for my Roth and traditional IRA, regular brokerage, and several custodial accounts.
Why I like it: Fidelity has a massive range of account types to choose from, which means it's a fit for almost any type of investor. It also matters when you're juggling a handful of pre-tax and post-tax accounts and want to manage everything under a single login.
Fidelity lets you buy fractional shares of thousands of stocks for as little as $1. Its ZERO index funds carry no expense ratio, so more of your money stays invested. That mix is why Fidelity earned our Best Stock Broker Overall award for 2026.
Who it's best for: Anyone who wants one reliable broker for the long haul.
2026 Award Winner
= Best
= Excellent
= Good
= Fair
= PoorFidelity makes investing easy with $0 commission trades, powerful tools, and 24/7 support. Trade stocks, ETFs, options, and even crypto -- all in one place. Get expert insights, automate your investing, and potentially earn more on uninvested cash.
$0 commission for online U.S. stock and ETFs*. No account fees****.
$0****
On Fidelity's Secure Website.
3. Charles Schwab: best for research and full-service investing
Charles Schwab has some of the deepest research and support in the business. It charges $0 to open an account and $0 for stock and ETF trades. Schwab won our Best Stock Broker for IRA Investors award for 2026, and my wife keeps her main brokerage account and Roth IRA there.
Why I like it: Schwab gives you serious tools if you want to be more hands-on, including the thinkorswim platform built for charting and options. But it's also beautifully simple for passive investors, so beginners won't be scared off. It also runs 400-plus branches and around-the-clock customer service. You can keep investing, banking, and a robo-advisor under one roof if you want.
Who it's best for: Hands-on investors that want research muscle, and retirement savers who value support.
2026 Award Winner
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= Excellent
= Good
= Fair
= PoorCharles Schwab pioneered the low-cost brokerage model decades ago, and that legacy continues with its lineup of no-commission-fee offerings. The robust lineup of account types, investment vehicles, and high quality app round out the stacked feature set.
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
$0
On Charles Schwab's Secure Website.
4. E*TRADE: best for hands-on and options traders
E*TRADE from Morgan Stanley is my top pick for active traders who like to really dig into the weeds. It offers $0 stock and ETF trades with no account minimum to start.
Why I like it: Its Power E*TRADE platform is built for options and technical traders. You can customize charts with dozens of metrics before you buy a single share. It now offers fractional shares on select stocks and ETFs too.
Who it's best for: More active investors who want powerful tools without going full professional. If you like to tinker before every trade, this is your account.
2026 Award Winner
= Best
= Excellent
= Good
= Fair
= PoorE*TRADE offers low fees and tons of account types. If you need it, chances are, E*TRADE has it. You can access advanced features through its popular Power E*TRADE platform. Open an E*TRADE account to trade fee-free mutual funds and do all your investing in one place.
Commission-free; other fees apply
$0
Open and fund a brokerage account and get up to $1,500. Terms apply.
On E*TRADE's Secure Website.
5. Vanguard: best for long-term index investors
Vanguard has championed index funds since their inception 50 years ago. It's a perfect match for passive investors that don't want to manage or trade individual stocks. Vanguard is also the largest brokerage firm in the country by assets, according to Motley Fool Money research on the largest brokerage firms.
Why I like it: Vanguard practically invented low-cost index investing, and its funds are still among the cheapest anywhere. Once your money is in, you can set it and forget it. The platform is plain, but plain works fine for hands-off investing.
Who it's best for: Passive investors who want rock-bottom fund costs and rarely trade. It's the account I would point a set-and-forget investor toward.
= Best
= Excellent
= Good
= Fair
= PoorVanguard is one of the best brokerages for passive investors who want to buy low-cost index fund ETFs. It also offers thousands of no-transaction-fee mutual funds, and excellent zero-commission options for buying stocks online, with no account minimums for brokerage accounts. Vanguard tries to keep its costs and expense ratios low so investors (like you) can keep more of your returns.
$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)
$0
On Vanguard's Secure Website.
How to open a brokerage account with no minimum
Opening a brokerage account takes about 10 minutes online. You need your Social Security number, a bank account to link, and a photo ID.
But if you're not ready to transfer money in, that's OK. There are no minimum requirements with these brokers, so you won't be penalized for having a $0 balance.
Pick one of the five brokers above and start the application on its website or app. Link your bank, then move over money when you're ready to begin investing. Once the cash lands, you can buy your first stock or fund the same day.
The best time to start investing was years ago. The second best time is right now, so open an account and buy your first share. If you would rather compare every option first, see our list of the best online stock brokers.
FAQs
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You can transfer your account to a new broker through an ACAT transfer, which moves your investments without selling them. Some brokers charge an outgoing transfer fee, often $50 to $75.
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Yes, as long as your broker is a member of the Securities Investor Protection Corporation (SIPC). SIPC coverage protects up to $500,000 per account, including $250,000 in cash, if the brokerage fails. It doesn't protect against investment losses from market performance, however.
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Yes, all three offer traditional and Roth IRAs alongside standard brokerage accounts. SoFi® adds a 1% match on IRA contributions and rollovers, a perk that's uncommon among zero-commission brokers.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.
Motley Fool Stock Disclosures
Charles Schwab is an advertising partner of Motley Fool Money. Joel O'Leary has no position in any of the stocks mentioned. The Motley Fool recommends Charles Schwab and recommends the following options: short September 2026 $95 calls on Charles Schwab. The Motley Fool has a disclosure policy.Fidelity disclosure
Investing involves risk, including risk of loss
* - $0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (historically from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. A limited number of ETFs are subject to a transaction-based service fee of $100. See full list at Fidelity.com/commissions. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.
**Fidelity Crypto® is offered by Fidelity Digital Assets®. Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897). Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
***Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
****Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
E*TRADE services are available just to U.S. residents.
Vanguard disclosures
Visit vanguard.com to obtain a prospectus or, if available, a summary prospectus, for Vanguard and non-Vanguard funds offered through Vanguard Brokerage Services. The prospectus contains investment objectives, risks, charges, expenses, and other information; read and consider carefully before investing.
Commission-free trading of Vanguard ETFs applies to trades placed both online and by phone. All ETFs are subject to management fees and expenses; refer to each ETF's prospectus for more information. Account service fees may also apply. All ETF sales are subject to a securities transaction fee. See the Vanguard Brokerage Services commission and fee schedules for full details.
Vanguard funds not held in a brokerage account are held by The Vanguard Group, Inc., and are not protected by SIPC. Brokerage assets are held by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC.
Vanguard Marketing Corporation, Distributor of the Vanguard Funds