Please ensure Javascript is enabled for purposes of website accessibility

This device is too small

If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.

Skip to main content

Where to Buy IPO Stocks: Best Brokers for IPO Access in 2026

Review Updated
Joel O'Leary
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation.

For most of stock market history, getting in on an initial public offering (IPO) was a privilege reserved for hedge funds and ultra-wealthy folks.

But that's changed. A new wave of brokers has opened the IPO door to everyday investors.

At Motley Fool Money, we've analyzed dozens of brokerages, and I'm personally signed up for IPO alerts with several of the brokerages on this list. Here's a rundown of our top picks for 2026.

Short on time? Here are a couple of our favorite picks:

  • Robinhood -- Allows all account holders to participate in IPOs, even those with small accounts.
  • SoFi Active Investing -- All account holders, regardless of balance, have IPO access -- but it layers in an advantage for people already using SoFi®'s broader ecosystem.
  • Our team of experts assessed 45+ trading platforms
  • We evaluate all brokerage accounts across the same 4 key criteria: user experience, cost efficiency, product variety, and support and security
  • Our brokerage ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Top brokers for IPO investing

Broker Best For Fees Special Offer Learn More
Award Icon 2026 Award Winner
Robinhood Offer Image
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best For:

Beginners

Fees:

$0 on trades of stocks, ETFs and their options. Other fees may apply.

N/A

Learn More for Robinhood

On Robinhood's Secure Website.

Award Icon 2026 Award Winner
SoFi Active Investing Offer Image
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best For:

The all-in-one crowd

Fees:

$0 for stocks, $0 for options contracts

Get up to $1,000 in stock when you fund a new account.

Circle with letter I in it. Probability of member receiving $1,000 is 0.028%. If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease.

Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Award Icon 2026 Award Winner
E*TRADE from Morgan Stanley Offer Image
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best For:

High-profile IPOs

Fees:

Commission-free; other fees apply

Open and fund a brokerage account and get up to $1,500. Terms apply.

Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash credit of up to $1,500, depending on the size of your deposit. Offer good for one use per customer, on a single account. Please read full terms and conditions on our website.

Award Icon 2026 Award Winner
Fidelity Offer Image
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best For: Fees:

$0 commission for online U.S. stock and ETFs*. No account fees****.

N/A

Learn More for Fidelity

On Fidelity's Secure Website.

Award Icon 2026 Award Winner
Charles Schwab Offer Image
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best For: Fees:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

N/A

Learn More for Charles Schwab

On Charles Schwab's Secure Website.

Webull Offer Image
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best For:

Active traders

Fees:

$0 per trade

N/A

Reviews of the best brokers for IPO investing

Best for beginners: Robinhood

Robinhood
Learn More for Robinhood

On Robinhood's Secure Website.

Award Icon 2026 Award Winner

Our Rating:

4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

A top pick for beginners, Robinhood combines $0 commission trades, an easy-to-use app, and a rare retirement deposit match.

Fees:

$0 on trades of stocks, ETFs and their options. Other fees may apply.

Account Minimum:

$0

Learn More for Robinhood

On Robinhood's Secure Website.

Why we like it: Robinhood democratized stock trading when it launched commission-free investing, and it's brought that same energy to IPO access. Unlike legacy brokers that gatekeep IPO participation behind high account balances, Robinhood lets essentially any account holder participate -- with no minimum balance required.

To request IPO shares, the process is really easy. You indicate your interest and request shares, and if you're allocated some, they show up in your account before the stock starts trading. It's about as frictionless as IPO investing gets.

One thing to know: Robinhood has a 30-day "flipping rule." If you sell your IPO shares within 30 days of the offering, you could be locked out of future IPO participation on the platform.

Who it's best for: Robinhood is a natural fit for newer investors or those with smaller accounts who want a genuine shot at IPO shares without needing to maintain a six-figure balance. If you've ever felt like the big IPOs weren't built for you, Robinhood is trying to change that.

Best for the all-in-one crowd: SoFi Active Investing

SoFi Active Investing
Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Award Icon 2026 Award Winner

Our Rating:

4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

This brokerage is a clear standout for its well-rated mobile app and also has unique investment offerings like IPOs, options, and fractional shares.

Fees:

$0 for stocks, $0 for options contracts

Account Minimum:

$0

Get up to $1,000 in stock when you fund a new account.

Circle with letter I in it. Probability of member receiving $1,000 is 0.028%. If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease.
Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Why we like it: SoFi®'s IPO access is open to all account holders regardless of balance. Terms apply. To get started, you'll need a funded SoFi Active Investing account -- which you can open in the app with no minimum. From there, navigate to the "Invest" tab, select "IPO Investing," and submit an Indication of Interest (IOI) for any available offering.

Our analysts have personally bought IPO shares through SoFi® and found the whole experience refreshingly smooth: intuitive, fast, and well-integrated into the app.

Who it's best for: SoFi®'s biggest draw is its wider product ecosystem. If you're already banking, borrowing, or investing with SoFi®, adding IPO participation is even easier. Everything lives in one app, so you can manage IPO investing right alongside the rest of your finances.

Best for high-profile IPOs: E*TRADE from Morgan Stanley

Award Icon 2026 Award Winner

Our Rating:

4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

E*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.

Fees:

Commission-free; other fees apply

Account Minimum:

$0

Open and fund a brokerage account and get up to $1,500. Terms apply.

Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash credit of up to $1,500, depending on the size of your deposit. Offer good for one use per customer, on a single account. Please read full terms and conditions on our website.

Why we like it: E*TRADE has made a deliberate push to bring IPO access to retail investors, and it shows. Backed by the institutional muscle of Morgan Stanley -- one of Wall Street's most active IPO underwriters -- E*TRADE is positioned to land allocations in major offerings.

When SpaceX went public in June 2026, E*TRADE stood out for requiring no account minimum to participate in the IPO. Being tapped as a retail channel for an offering that size -- with parent Morgan Stanley among the lead underwriters -- is a real signal of where E*TRADE stands in the IPO landscape right now.

Who it's best for: Investors who already have a meaningful portfolio and want access to marquee IPOs backed by serious institutional underwriting. If you're a serious retail investor looking to level up your IPO game -- and you're comfortable with a more traditional brokerage experience -- E*TRADE is worth a hard look.

Best for high-balance investors: Fidelity

Fidelity
Learn More for Fidelity

On Fidelity's Secure Website.

Award Icon 2026 Award Winner

Our Rating:

5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Fidelity 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.

Fees:

$0 commission for online U.S. stock and ETFs*. No account fees****.

Account Minimum:

$0****

Learn More for Fidelity

On Fidelity's Secure Website.

Why we like it: Fidelity is one of the most active retail IPO brokers -- and I've experienced that firsthand. I'm signed up for IPO alerts through my Fidelity account and received notifications on a ton of offerings in 2026.

The tradeoff is a very high bar to clear: For most IPOs, Fidelity requires $500,000 in household assets to be eligible, though some offerings drop that threshold to $100,000. Premium, Private Client Group, and Active Trader members qualify regardless of assets.

Earlier in 2026, Fidelity lowered the threshold all the way to $2,000 for the SpaceX IPO -- but that was a special exception tied to SpaceX's unusually large retail allocation.

To participate, log in, navigate to News & Research, open the IPO Center, and submit an indication of interest to buy IPO stocks. If demand outstrips supply, Fidelity uses a lottery to distribute shares.

It also has a strict anti-flipping policy. If you sell within the first 15 days, you're blocked from future IPO participation for six months, with escalating bans for repeat offenses.

Who it's best for: Existing Fidelity customers with significant account balances who want a platform with genuinely active IPO deal flow.

Best for a full-service, traditional brokerage: Charles Schwab

Charles Schwab
Learn More for Charles Schwab

On Charles Schwab's Secure Website.

Award Icon 2026 Award Winner

Our Rating:

4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Charles 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.

Fees:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

Account Minimum:

$0

Learn More for Charles Schwab

On Charles Schwab's Secure Website.

Why we like it: Charles Schwab offers IPO access -- and I can confirm it personally. I'm a Schwab customer, I'm signed up for new issue alerts, and the notifications come through. However, deal flow seems to be much lighter than on other platforms.

To find available offerings, log in, click the Trade tab in the top navigation, and select IPOs from the dropdown. From there you can submit a conditional offer to purchase and complete a short eligibility questionnaire.

Schwab is upfront that participation requires meeting certain investment objectives, sufficient investment knowledge and experience, and a minimum liquid net worth threshold -- reported to be $100,000 in brokerage assets.

Who it's best for: Established Schwab customers who meet the net worth threshold and want to participate in IPOs through a platform they already use and trust.

Best for active traders: Webull

Our Rating:

4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Webull is a standout mobile investing app. You can access advanced trading tools on desktop and mobile. Basic trades are commission-free, so it's competitive with similar apps. The mobile app offers Lite mode, a simpler interface for beginner investors. Consider opening a Webull account for its advanced toolset, more powerful than its closest competitors'.

Fees:

$0 per trade

Account Minimum:

$0

Why we like it: Webull's IPO access is open to all account holders -- though you'll need at least $100 in settled cash to place an IPO order, and the minimum purchase is $100. Beyond that low bar, Webull punches above its weight as a trading platform. It offers advanced charting, real-time data, extended-hours trading, and a more technical interface than most apps in this category -- tools that come in handy when you're researching a company ahead of its public debut.

Who it's best for: Active traders or more research-minded investors who want a feature-rich experience without a big account requirement. If you find simpler apps too basic but aren't ready to commit to a full-service brokerage, Webull hits a nice middle ground.

At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

Our aim is to maintain a balanced best-of list featuring top-scoring brokerages from reputable brands. Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates brokerage accounts.

At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

Our aim is to maintain a balanced best-of list featuring top-scoring brokerages from reputable brands. Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates brokerage accounts.

How to choose the right broker for IPO investing

Here's what to look for when evaluating an online trading platform when you're specifically looking for IPO access:

  • No (or low) fees and account minimums: You don't need to work with a high-cost broker just to get access to IPOs. In fact, all the brokers on our list are low-cost and give access to everyday investors.
  • Track record of allocations: A broker can offer IPO access without actually getting meaningful share allocations. So look for platforms with a history of participation in notable deals.
  • Flipping policies: Some brokers restrict how quickly you can sell IPO shares. Just make sure to know the rules before you participate.
  • Process simplicity: IPOs move fast. A clunky app or a confusing indication-of-interest process can cause you to miss a window. So make sure you get familiar with how the app works and are comfortable with the trading interface.

What to know before investing in an IPO

IPOs can be exciting -- and genuinely lucrative. But they can also disappoint.

A few things to keep in mind:

  • You may not get the shares you request. IPO allocations are often oversubscribed. So even if you indicate interest, there's no guarantee you'll receive an allocation, especially for high-demand offerings.
  • The first-day pop isn't guaranteed. Some IPOs surge on day one. Others fall flat or drop below their offering price. Buying at the IPO price isn't automatically a winning trade.
  • Lock-up periods apply to insiders, not you. That being said, insider selling after the lock-up expirations (typically 90-180 days post-IPO) can create downward price pressure worth watching.
  • Do your homework. A good rule of thumb is don't invest in anything you don't fully understand. Deep research is key for successful IPO trading -- not just following news headlines or hype.

Alternatives to Consider

We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2026.

Broker Best For Commissions Learn More
Logo for Fidelity
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Full-service investing at every experience level $0 commission for online U.S. stock and ETFs*. No account fees****.
Learn More for Fidelity

On Fidelity's Secure Website.

Logo for Charles Schwab
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Low-cost investing with a full-featured platform $0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
Learn More for Charles Schwab

On Charles Schwab's Secure Website.

Logo for Robinhood
4.80/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Low fees on stocks, ETFs, crypto, and options $0 on trades of stocks, ETFs and their options. Other fees may apply.
Learn More for Robinhood

On Robinhood's Secure Website.

FAQs

  • Anthropic filed confidential IPO paperwork with the SEC in June 2026 and is targeting a Nasdaq listing around October 2026. But there is no firm date, ticker, or broker access. Sign up for IPO alerts on the brokers above so you don't miss the window when it opens.

  • There's no fee to request or receive IPO shares on these platforms. But some brokers charge "flipping" fees if you sell shares too soon after you buy them.

    SoFi®, for example, may charge a $50 fee if you sell allocated IPO shares within 120 days of the offering. Robinhood doesn't charge a fee for early selling, but may restrict your IPO access for 60 days.

  • Nothing happens. No money is charged, and no action is required. You can still buy shares on the open market once trading begins, but you'll pay the market price rather than the IPO price.