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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.
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Whether you just got a tax refund, finally have a little extra cash to put to work, or have simply decided that this is the year you start investing -- you're in the right place.
At Motley Fool Money, we've spent over 30 years helping people make smarter financial decisions. The picks on this page are investing platforms our team has personally evaluated and would genuinely recommend to friends and family.
Each broker has its strengths, and the best fit for you really depends on your investing style.
Short on time? Here are a few of our favorite picks:
Fidelity stands out for its rare ability to serve both beginners and experienced investors on the same platform. New investors benefit from its user-friendly tools, strong educational content, and $0 commissions, while seasoned traders get advanced research, customization, and depth. It’s a one-stop shop with a reputation for reliability, making it an easy choice no matter where you are in your investing journey. Click here to open an account.
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
4.90/5
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
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:
All-in-one financial planning tool
Fees:
$0 for stocks, $0 for options contracts
Get up to $1,000 in stock when you fund a new account.
Customer must fund their Active Invest account with at least $50 within 45 days of opening the account. Probability of member receiving $1,000 is 0.026%. Percentages for the $1,000 are subject to decrease.
5.00/5
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
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:
Full-service investing at every experience level
Fees:
$0 commission for online U.S. stock and ETFs*. No account fees****.
4.90/5
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
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:
Deep data analysis
Fees:
Commission-free; other fees apply
SPECIAL OFFER
Open and fund a brokerage account and get up to $1,500. Terms apply.
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.
4.90/5
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
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:
Low-cost investing with a full-featured platform
Fees:
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
4.80/5
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
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 and mobile-first users
Fees:
$0 on trades of stocks, ETFs and their options. Other fees may apply.
1 Free Stock After Linking Your Bank Account (stock value range $5.00-$200)
4.70/5
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
4.70/5
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
4.00/5
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
4.00/5
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
4.50/5
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
4.50/5
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:
Passive investing
Fees:
$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)
4.80/5
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
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
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
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
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.
Get up to $1,000 in stock when you fund a new account.
Customer must fund their Active Invest account with at least $50 within 45 days of opening the account. Probability of member receiving $1,000 is 0.026%. Percentages for the $1,000 are subject to decrease.
Why we like it: SoFi® is great if you want to manage your entire financial life in one place. You can trade stocks, invest for retirement, open a bank account, and even apply for loans -- all from the same app, with no trading commissions. Getting started is beginner-friendly too. Fractional shares let you invest in big-name companies like Apple or Amazon for as little as $5, and you'll also get access to mutual funds, IPOs, and other extras.
Who it's best for: Someone who wants to consolidate their financial life into one app -- banking, investing, and borrowing -- without paying commissions or juggling multiple platforms.
5.00/5
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.
Why we like it: Fidelity earned a perfect 5 out of 5 stars from our reviews team -- and also won Motley Fool Money's Best Stock Broker Overall award for 2026. What makes Fidelity special is that it somehow manages to be the right platform for a brand-new investor and someone managing a seven-figure retirement account. It's hard to go wrong choosing Fidelity.
Who it's best for: Anyone -- seriously. But especially long-term investors who want a trusted, full-featured platform they'll never have to outgrow.
First-hand review from one of our employees who uses Fidelity personally:
"I've been using Fidelity for over a decade, and my experience has been excellent. I've found it to be an easy-to-use platform, has great customer service, and the fees are low or nonexistent."
-Brendan Byrnes, Managing Director of Motley Fool Money
Best for deep data analysis: E*TRADE from Morgan Stanley
4.90/5
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.
Open and fund a brokerage account and get up to $1,500. Terms apply.
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 is where data nerds come to feel at home. The platform lets you customize your charts with up to 16 columns and 65 different metrics -- which sounds like a lot until you realize how much you actually want that kind of control when you're doing real research.
The mobile app is robust too, so you're not sacrificing anything when you're on the go. Oh, and if you're just getting started, see if these E*TRADE new account promotions fit your situation.
Who it's best for: Research-driven investors who want to dig into the numbers and want a platform that can keep up with them.
4.90/5
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.
Why we like it: Schwab basically invented the low-cost brokerage model -- and decades later, it's still one of the best in the business. What separates Schwab from the other discount brokers is depth -- you can open a checking account, get a credit card, and even walk into a physical branch if you ever need face-to-face help.
Who it's best for: Cost-conscious investors who want low fees, broad investment options, and the option to eventually manage their whole financial life in one place.
First-hand review from one of our employees who uses Charles Schwab personally:
"I opened my Charles Schwab account as a brand-new investor who knew almost nothing about investing, and I've learned a lot through the educational resources available. While the website isn't the most modern, it's easy to use. I've spent a good amount of time using their customer service support as well as a Schwab Financial Consultant and both have been tremendously helpful."
-Brooklyn Sprunger, Content Lead here at Motley Fool Money
4.80/5
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.
Why we like it: Robinhood changed the investing world when it launched zero-commission trading. And it still stands strong today, taking home the Best Online Trading Platform award for 2026 in the most recent Motley Fool Money Awards. The feature that surprises people most is the IRA match. You can get a 1% contribution match added to your traditional or Roth IRA automatically (3% if you're a Robinhood Gold member), which is basically free money. The app is clean, fast, and genuinely one of the easiest platforms to use.
Who it's best for: Beginner investors and mobile-first traders who want a no-frills, low-cost platform that makes it easy to start with whatever you have.
First-hand review from one of our employees who uses Robinhood personally:
"I've been using Robinhood since it launched. At the time, it was one of the only platforms to offer zero-fee trades. The platform was developed to be mobile-first, so the app is clean and easy to use."
-Louis Feldsott, Data Analyst here at The Motley Fool
4.70/5
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
Public is an investing platform that simplifies trading stocks, bonds, ETFs, options, and crypto. With zero fees on many trades, Public stands out as a low-cost brokerage, while also providing yield-focused products to help you earn returns on your cash.
Why we like it: Most brokers quietly profit off your trades through a practice called payment for order flow (PFOF) -- meaning they're getting paid by market makers for routing your orders, which can affect how your trades get executed. Public opted out of that model entirely and charges upfront fees instead, so you always know what you're paying and why. Beyond the transparency angle, Public punches above its weight on investment variety. It offers fractional shares which make investing accessible no matter your starting budget.
Who it's best for: Fee-conscious investors who want full transparency on how their trades are handled, plus a wide range of assets to explore.
Best for mutual funds: J.P. Morgan Self-Directed Investing
4.00/5
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 no-frills platform with $0 mutual fund fees, J.P. Morgan Self-Directed Investing offers easy trading, an optional robo-advisor, and seamless Chase integration.
NEW! Get a cash bonus up to $1,000 when you open and fund a J.P. Morgan Self-Directed Investing account.
$1,000 when you fund with $250,000 or more; $325 when you fund with $100,000-$249,999; $150 when you fund with $25,000-$99,999; $50 when you fund with $5,000-$24,999. Cash promotion is limited to one per customer and can only be applied to one new J.P. Morgan Self-Directed Investing account (General Investment, Traditional IRA, or Roth IRA). To enroll in the up to $1,000 offer, you must open an account through this page.
On
J.P. Morgan Self-Directed Investing's
Secure Website.
Why we like it: Here's something rare: $0 commissions on all mutual funds. Most brokers offer commission-free trading on a limited selection -- J.P. Morgan gives you no-transaction-fee access across the board, which is a genuinely big deal if mutual funds are a core part of your strategy. Bonus points if you're already a Chase customer -- the platform integrates directly with your Chase account.
Who it's best for: Mutual fund investors, especially Chase customers who want everything under one banking roof.
4.50/5
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
Vanguard 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.
Why we like it: The founder of Vanguard, John "Jack" Bogle, was known as the "father of index funds" and created one of the most passive investing philosophies many people (including myself) follow today. If you want to buy low-cost index funds and ETFs, hold them for decades, and not pay more than you have to along the way, Vanguard is the gold standard. Its own suite of mutual funds offers some of the lowest expense ratios in the industry.
Vanguard's interface is simple, the fees are minimal, and the philosophy is built around you keeping more of your returns. Our kind of company.
Who it's best for: Long-term, buy-and-hold investors who care more about low costs and compounding than fancy tools or active trading features.
4.80/5
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'.
Why we like it: If you want to do serious technical analysis from your phone, Webull is in a class of its own. Advanced charts, a fully customizable interface, $0 commissions, and no per-contract fees on options. Most platforms charge for that, so it's a meaningful edge if options are part of your strategy.
You can also trade fractional shares starting at $5, so it's accessible even if you're not working with a huge starting balance. One of our editors has used Webull for three years and specifically called out the portfolio risk assessment feature as something she hasn't seen replicated elsewhere.
Who it's best for: Active traders and options investors who want desktop-level power in a mobile app, without paying extra for the privilege.
First-hand review from one of our employees who uses Webull personally:
"I've had my Webull trading account for three years and primarily did my trading using my mobile device. I love that the app allows you to check your individual account's risk level based on your investments. Trading isn't too complicated on it, but beyond the risk assessment component, it was pretty similar to other platforms I've used. It could be worthwhile for people seeking to buy OTC and fractional shares."
5.00/5
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 great low-cost option for small trade volume. While the interface isn't as clean or modern as that of other brokers, it gets the job done. Interactive Brokers is also a great choice for options investors, traders, and those trading on margin.
Why we like it: If breadth of access matters to you, nothing on this list beats Interactive Brokers. We're talking stocks, ETFs, options, futures, forex, crypto, and mutual funds across 150+ markets globally. For investors who want to trade internationally or work with a wide range of asset classes, this is the platform. Margin rates are among the lowest we've reviewed, making it a go-to for traders who borrow to invest.
The desktop platform delivers serious charting and technical analysis tools -- and between the Lite and Pro plans, there's a version for wherever you are in your trading journey.
Who it's best for: Experienced and active traders who want maximum market access, low margin rates, and advanced tools -- and don't need the platform to hold their hand.
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.
What to consider when choosing a brokerage
As you read through and compare brokerage features, think about how you plan to invest and what tools you actually need.
Some platforms are packed with features. But if you never use any of those advanced bells and whistles, maybe it's simpler to stick with a basic option with low fees.
Here are a few things to consider:
Starting small? Look for brokers with no minimum deposit and fractional shares so you can invest with just a few bucks.
Just want to buy and hold? A basic discount broker will likely cover everything you need.
Planning to invest in mutual funds, bonds, or options? Not all platforms support these -- and fees can vary -- so be sure to compare.
Need human help or branch access? Some brokers offer phone support and in-person locations, but many don't.
Most investors don't need super advanced features -- but if you do, it's worth choosing a broker that fits your style from day one.
It's a simple online form which usually takes five to 10 minutes to fill out. Super easy!
Here's a quick overview:
Compare brokers based on your goals
Choose your account type (individual, joint, IRA, etc.)
Apply online -- you'll need your SSN and some basic info to get set up
Fund your account -- You can "link" your existing bank account so that you can transfer money back and forth. There are other funding options but bank transfers are the most common method.
Start investing! Once the funds land in your new brokerage account, you're ready to put that money into investments.
Most brokers let you open an account for free, and many don't require an initial deposit. If your broker offers fractional shares, you can start with just a few bucks.
What you can invest in
There are a ton of options when it comes to investing -- but not all platforms support everything.
Here's what to look for:
Stocks & ETFs: These are the go-to for most investors. Stocks offer ownership in companies, while ETFs bundle assets for instant diversification. Nearly all discount brokers offer commission-free trading on both.
Mutual funds: If you want a hands-off approach, mutual funds can be a solid choice. Look for brokers that offer no-transaction-fee (NTF) funds to avoid extra costs.
Bonds: Bonds offer steady income and lower risk, but not every broker has a strong bond marketplace -- so check if that's part of your strategy.
Options: If you're interested in more advanced strategies, make sure your broker offers low-cost options trading and some solid educational support.
Some platforms also let you access alternative investments -- like crypto, venture funds, or even music royalties. These are more niche, but growing in popularity.
Safety and protections
Your brokerage account is generally safe. But it's important to understand the limits.
SIPC protection: Covers up to $500,000 if the broker fails (including $250,000 for cash)
Fraud protection: Most brokers offer account protection if your login gets compromised (as long as you report it quickly)
That being said, you are 100% on the hook for investment losses. Take your time, study your investments wisely, and be patient. The market will have ups and downs, but a well-thought-out plan and long-term mindset can make all the difference.
Discount brokers vs. full-service platforms
Many of the top platforms today are low-cost and self-directed (you're the one calling the shots on your investments). But they vary widely in how much support, service, and flexibility they offer.
Old-school firms like Fidelity, Schwab, and Vanguard have been around for decades. They offer robust tools, strong customer service, and the option to manage everything -- from retirement accounts to checking and credit cards -- all under one roof.
New-school platforms like Robinhood and SoFi® lean into simplicity. They're mobile-first, fee-light, and often include access to newer features like crypto trading, fractional shares, and slick app experiences. These are especially appealing if you're just starting out or want a more streamlined way to invest on the go.
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Brokerages we monitor
Brokerages we evaluated for consideration on this page:
Acorns, Ally Invest, Axos Self-Directed Trading, Betterment, Cash App Investing, Charles Schwab, Delphia, Domain Money, Ellevest, Empower, eToro Brokerage, E*TRADE Core Portfolios from Morgan Stanley, E*TRADE from Morgan Stanley, Fidelity, Fidelity Cash Management, Fidelity Go®, Firstrade, FOREX.com, Interactive Brokers, J.P. Morgan Self-Directed Investing, M1 Finance, Magnifi, Marcus Invest, Merrill Edge® Self-Directed, Moomoo, NinjaTrader, Personal Capital, Plynk, Prosperi Academy, Public, Robinhood, Rocket Dollar, Schwab Intelligent Portfolios, SoFi Active Investing, SoFi Robo Investing, Stash, Stockpile, tastytrade, Titan, Tornado App, TradeStation, Tradier, Vanguard, Vanguard Digital Advisor®, Wealthfront, Webull, Zacks Trade.
FAQs
Yes, it can be one of the smartest things you do with it. A refund is essentially a lump sum landing in your account -- and putting it into a brokerage instead of spending it gives it a chance to compound over time. Even a few hundred dollars invested early can grow to a meaningful balance down the road. That said, it's worth paying off high-interest debt first before investing.
SoFi® just won Motley Fool Money's Best Stock Broker for Beginners Award for 2026. But platforms like Fidelity, Charles Schwab, and Robinhood consistently rank well for new investors. These offer $0 commissions, no account fees, and intuitive apps that don't require a finance degree to navigate.
Most top stock brokers these days have no minimum deposit requirement, so you can open an account with $0 and start investing with as little as $1 if the broker offers fractional shares.
A brokerage account is a standard taxable investment account -- flexible, no contribution limits and you can withdraw money anytime. An IRA (individual retirement account) comes with tax advantages but has annual contribution limits and rules around withdrawals. Most people benefit from having both.
Yes -- all reputable brokers are members of the Securities Investor Protection Corporation (SIPC), which protects your account up to $500,000 (including $250,000 in cash) if the broker fails. That's separate from investment risk, which is always on you.
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Motley Fool Stock Disclosures
Ally is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. Joel O'Leary has positions in Target. The Motley Fool has positions in and recommends Amazon, Apple, Axos Financial, Best Buy, Interactive Brokers Group, Intuit, JPMorgan Chase, Target, and XRP and is short shares of Apple. The Motley Fool recommends Charles Schwab, Flow, and Maker and recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group, short January 2027 $46.25 calls on Interactive Brokers Group, and short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
Fidelity Disclosure:
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 from Morgan Stanley Disclosure:
E*TRADE services are available just to U.S. residents.
Robinhood Disclosure:
Robinhood disclosure
Margin borrowing increases your level of market risk, as a result it has the potential to magnify both your gains and losses. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance. Regardless of the underlying value of the securities you purchased, you must repay your margin loan. Robinhood Financial can change its maintenance margin requirements at any time without prior notice. If the equity in your account falls below the minimum maintenance requirements (varies according to the security), you’ll have to deposit additional cash or acceptable collateral. If you fail to meet your minimums, Robinhood Financial may be forced to sell some or all of your securities, with or without your prior approval. For more information please see Robinhood Financial’s Margin Disclosure Statement, Margin Agreement and FINRA Investor Information.
Margin trading involves risk and may not be suitable for all investors. Borrowing on margin increases your level of market risk and can amplify both gains and losses.
Robinhood Financial may change maintenance margin requirements at any time without prior notice. If the equity in your account falls below minimum maintenance requirements, you may need to deposit additional cash or collateral. If those requirements are not met, Robinhood Financial may sell securities in your account without prior approval.
The 3% matching on annual contributions requires a subscription with Robinhood Gold ($5/mo) and customers must stay subscribed to Gold for 1 year from the date of the first eligible deposit to keep the full Gold match. The funds that earned the match must be kept in the account for at least 5 years to avoid a potential Early IRA Match Removal Fee. Match rate subject to change. Non-Gold customers receive a 1% match. Offer only applies to self-directed IRAs. For more information refer to the IRA Match FAQ.
You must have compensation (wage income) in order to contribute to an IRA. Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.
The Robinhood IRA is available to any U.S. customer with a Robinhood brokerage account in good standing.
The 3% matching on annual contributions requires a subscription with Robinhood Gold ($5/mo) and customers must stay subscribed to Gold for 1 year from the date of the first eligible deposit to keep the full Gold match. The funds that earned the match must be kept in the account for at least 5 years to avoid a potential Early IRA Match Removal Fee. Match rate subject to change. Non-Gold customers receive a 1% match. Offer only applies to self-directed IRAs. For more information refer to the IRA Match FAQ.
You must have compensation (wage income) in order to contribute to an IRA. Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.
The Robinhood IRA is available to any U.S. customer with a Robinhood brokerage account in good standing.
Robinhood Strategies charges an annual management fee of 0.25% on the net portfolio value of each managed account. Eligible Robinhood Gold subscribers pay no management fees on the portion of their managed account net portfolio value that exceeds $100,000, thereby limiting the annual management fee to $250. Other fees apply.
All investments involve risk and loss of principal is possible.
Brokerage services are offered through Robinhood Financial LLC, ("RHF") a registered broker dealer (member SIPC) and clearing services through Robinhood Securities, LLC, ("RHS") a registered broker dealer (member SIPC).
RHF and RHS are not banks. All are separate but affiliated entities. Securities offered by RHF are not FDIC insured and involve risk, including possible loss of principal.
Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC.
Portfolio management of managed accounts by Robinhood Asset Management, LLC (“Robinhood Strategies”), an SEC-registered investment advisor.
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before trading options.
Cryptocurrency trading is offered through Robinhood Crypto, LLC (NMLS ID 1702840). Trading and holding digital assets involves significant risk, including the risk of substantial loss. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.
*Trading and owning digital assets involves significant risk, including the risk of substantial loss. Cryptocurrency trading is offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the
New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.
** Network fees may apply. Availability may be subject to regulatory approval in certain states.
J.P. Morgan Self-Directed Investing Disclosure:
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Vanguard Disclosure:
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
Interactive Brokers Disclosure:
Interactive Brokers disclosure: The inclusion of Interactive Brokers’ (IBKR) name, logo or weblinks is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
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