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Personally, I use two different brokers. One is where I keep my long-term accounts (like Roth IRA, traditional IRA, and brokerage) for a passive "set-and-forget" system. The other I use for more active trading and money moves, like dabbling in individual stocks or ETFs.
Each broker has its strengths, and the best fit really depends on your investing style.
At The Motley Fool, we've spent over 30 years helping investors make smarter financial decisions. And our brokerage picks are based on hundreds of hours of hands-on research, not affiliate deals.
Here's our curated list of the best brokers and trading platforms for August 2025.
Short on time? Here are a few of our favorite picks:
Charles Schwab is a low-cost platform that works for investors at any stage. Beginners will appreciate the easy-to-use tools, $0 commissions, and clear educational resources, while experienced traders can take advantage of advanced features like thinkorswim, research tools, and fractional shares. With a long-standing reputation for reliability, Schwab is a one-stop shop that grows with you. Click here to open an account.
SoFi Active Investing offers zero-commission trading, fractional shares, and a full suite of financial tools for easy diversification and management. For a limited time, get up to $1,000 in stock when you fund a new account with at least $50 in the first 45 days. 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
The best online brokers and trading platforms for August 2025
4.5/5
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.
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4.5/5
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.
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Best For:
Low-cost investing with a full-featured platform
Commission:
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
4.5/5
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.
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4.5/5
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.
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Get up to $1,000 in stock when you open & fund a new Active Invest account.
Probability of Member receiving $1,000 is a probability of 0.026%;
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.
5.0/5
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.
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= Excellent
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5.0/5
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.
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Best For:
Full-service investing at every experience level
Commission:
$0 commission for online U.S. stock and ETFs*. No account fees****.
4.5/5
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.
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4.5/5
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.
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= Excellent
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= Poor
4.5/5
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.
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= Excellent
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= Poor
4.5/5
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.
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= Excellent
= Good
= Fair
= Poor
4.5/5
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.
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= Excellent
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= Fair
= Poor
4.5/5
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.
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= Excellent
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4.0/5
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.
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= Excellent
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4.0/5
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.
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= Excellent
= Good
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= Poor
4.5/5
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.
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= Excellent
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4.5/5
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.
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Best For:
Passive investing
Commission:
$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)
4.0/5
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.
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= Excellent
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4.0/5
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.
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= Excellent
= Good
= Fair
= Poor
4.5/5
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.
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= Excellent
= Good
= Fair
= Poor
4.5/5
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.
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= Excellent
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= Fair
= Poor
4.5/5
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.
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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 it made our list: Charles Schwab is one of the best platforms out there for low-cost investing -- especially if you're into ETFs and index funds. Its own lineup of Schwab-branded ETFs rivals big names like Vanguard and Fidelity on fees, making it a smart pick for cost-conscious investors.
But Schwab's appeal goes beyond just trades. You can open checking accounts, CDs, credit cards, and even swing by one of 300+ physical branches if you ever want help in person. It's a great all-in-one option for anyone who wants to invest and manage their money under one roof.
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
Best for all-in-one financial management: SoFi Active Investing
4.5/5
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.
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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.
Special Offer
Probability of Member receiving $1,000 is a probability of 0.026%;
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.
Get up to $1,000 in stock when you open & fund a new Active Invest account.
Why it made our list: 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.
If you're looking for a modern platform that blends investing with everyday money tools, SoFi®'s got you covered.
5.0/5
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.
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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 it made our list: Fidelity earned a perfect 5 out of 5 stars from our reviews team, and took home Motley Fool Money's Best Overall Stock Broker Award for 2025. It's got an unbeatable combo of low fees, powerful tools, and long-standing trust.
Fidelity has something for everyone, whether you're just getting started or managing a seven-figure portfolio. You'll enjoy zero-commission stock and ETF trades, access to crypto, 3,300+ no-transaction-fee mutual funds, and a deep library of research and educational content.
With decades of experience, rock-solid customer service, and more resources than most competitors, Fidelity is a platform that truly grows with you.
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
4.5/5
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.
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Bottom Line
A top pick for beginners, Robinhood combines $0 commission trades, an easy-to-use app, and a rare retirement deposit match.
Why it made our list: Robinhood shook up the investing world when it launched just 12 years ago. And it's still one of the best platforms for simple, fee-free trading. You can buy stocks, ETFs, and even options without paying commissions or per-contract fees.
One of the coolest features is Robinhood's IRA match. You'll get 1% added to your retirement contributions (or 3% if you're a Robinhood Gold member) -- basically free money, especially helpful if you're self-employed. With fractional shares and a clean, easy-to-use app, Robinhood makes it super simple to start investing with just a few bucks.
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
Best for deep data analysis: E*TRADE from Morgan Stanley
4.5/5
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.
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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.
Special Offer
Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, 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.
Open and fund a brokerage account and get up to $1,000. Terms apply.
Why it made our list: E*TRADE from Morgan Stanley offers a wide range of investment options, including stocks, ETFs, options, and thousands of no-load mutual funds -- many of which can be traded commission-free. It's a strong choice for investors who want both variety and low-cost trading.
Where E*TRADE really shines is its powerful research and analysis tools. The platform lets you customize charts with up to 16 columns and 65 different metrics, giving data-driven investors the ability to sort, prioritize, and analyze the numbers that matter most.
Whether you're using the deeply featured desktop platform or the robust mobile app, E*TRADE is one of the best online brokers for investors who love digging into research and analytics.
4.5/5
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.
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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 it made our list: If you're looking for unmatched market access, Interactive Brokers is tough to beat. With the ability to trade stocks, ETFs, options, futures, forex, cryptocurrencies, and mutual funds across 150-plus markets, it offers the widest range of tradable securities on this list. For investors who want global reach, this is the go-to platform.
Beyond its $0 stock and ETF commissions, Interactive Brokers stands out for its low margin rates, which are among the most competitive we've reviewed. That makes it a strong choice for margin traders looking to keep borrowing costs down.
For active traders, the desktop platform delivers advanced charting and technical analysis tools that few competitors can match. Whether you're a beginner opting for the Lite plan or a pro trader choosing the Pro plan, Interactive Brokers has a platform built to fit your needs.
Best for mutual funds: J.P. Morgan Self-Directed Investing
4.0/5
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.
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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.
Earn a bonus up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account (retirement or general) with qualifying new money by 10/21/2025.
On
J.P. Morgan Self-Directed Investing's
Secure Website.
Why it made our list: J.P. Morgan Self-Directed Investing stands out with its $0 commission on all mutual funds -- a rarity in the brokerage world. Unlike many brokers that only offer commission-free trades on a limited selection of mutual funds, J.P. Morgan provides no-transaction-fee access across the board, making it one of the best brokers for mutual fund investors.
For Chase customers, the convenience factor is another key advantage. The platform integrates seamlessly with existing Chase accounts, allowing you to easily sign up for an investment account directly from the app. If you're already a Chase user, this integration makes getting started incredibly simple and efficient.
4.5/5
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.
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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 it made our list: Vanguard is a retirement-focused broker that's beloved by investors with a long-term, buy-and-hold strategy. If you're looking for a platform that aligns with this philosophy, Vanguard's simple and user-friendly interface makes it an excellent choice. However, it's not designed for active traders -- there are no real-time streaming news or advanced charting tools for those who prioritize short-term trading.
Where Vanguard truly shines is in its mutual funds. Vanguard's own suite of mutual funds is known for offering some of the lowest expense ratios in the industry, and it also gives you access to thousands of no-transaction-fee funds from other firms.
For investors who prefer a more passive investing approach and are focused on affordability and long-term growth, Vanguard is one of the best platforms to consider.
4.0/5
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.
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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 it made our list: Public stands out by offering a refreshing alternative to brokers like Robinhood that rely on payment for order flow (PFOF). Instead of relying on PFOF, Public charges customers upfront fees, eliminating any uncertainty around price execution.
But it's not just the pricing model that sets Public apart, it's the variety of investment options. While many brokers stick to the basics, Public goes beyond with access to stocks, ETFs, bonds, options, OTC stocks, and even cryptocurrencies. All of this is priced transparently and affordably.
If you're just getting started, Public makes it easy to invest with fractional shares, meaning you can begin investing at any price point -- perfect for beginners. If you want an investing platform that's clear, straightforward, and offers a diverse range of investments, Public is definitely worth checking out.
4.5/5
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.
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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 it made our list: Webull is one of the best trading platforms for advanced traders on the go. It combines powerful charts, a customizable interface, and $0 commissions -- all within a mobile app. For those who want to get fancy with their trades from their phone, Webull is tough to beat.
One of its standout features is the lack of options contract fees -- a rarity in the industry, as most brokers charge per-contract fees for options. This makes Webull a great option for options traders looking to save on costs.
Additionally, Webull allows you to trade fractional shares, letting you buy stocks and ETFs for as little as $5, making it accessible for investors with smaller budgets. If you're looking for a feature-rich platform that doesn't break the bank, Webull is definitely worth a look.
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."
-Sharice Wells, Editor here at The Motley Fool
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.
Step-by-step: How to open a brokerage account
Opening a brokerage account is just like opening a regular bank account or applying for a credit card.
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
Most online brokers don't charge commissions for online stock trades. However, there may be commissions for other types of investments like mutual funds and options, and brokers have their own fee schedules for various other services. The best pick for you depends on what services and investments you anticipate using the most.
Thanks to zero-commission online stock trading and many brokerage firms offering fractional shares, it's easier than ever to diversify your investments. If your goal is to create a diverse portfolio of individual stocks without a large upfront capital commitment, be sure the broker you choose has both of these features.
Yes. If your account is with a brokerage firm that is a member of the Securities Investor Protection Corporation (SIPC), cash and securities in your account are protected from loss due to broker failure, up to $500,000 ($250,000 for cash). However, your money is not insured against losses that result from declines in value of the investments in your account.
This depends on your goals. If you simply want the best platform to buy and sell stocks, a standard (taxable) brokerage account could be the best choice for you. If you want to save for retirement and/or reduce your taxes, a retirement account like a traditional or Roth IRA might be better. There are other specialized brokerage account types as well, and you can usually find a list of the types offered on your broker's website.
There's no broker that is inherently safer than all the rest, but there are some important things to look for. First, make sure your broker is covered by SIPC protection, which insures the cash and securities in your account in the event of a broker's failure. Second, make sure your broker has a fraud protection guarantee, which will make you whole in the event that someone hacks into your account and makes unauthorized trades or withdrawals.
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Charles Schwab is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Brendan Byrnes has positions in Amazon and Apple. The Motley Fool has positions in and recommends Amazon, Apple, Axos Financial, Best Buy, Interactive Brokers Group, Intuit, JPMorgan Chase, Maker, Target, and XRP. The Motley Fool recommends Charles Schwab and Flow 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 September 2025 $92.50 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.
Robinhood Disclosure:
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are 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. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
Investing is risky. Bonus offers subject to terms and conditions, visit robinhood.com/hoodweek for more information. Margin is not suitable for all investors. Robinhood Gold is offered through Robinhood Gold LLC and is a subscription offering services for a fee. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.
E*TRADE from Morgan Stanley Disclosure:
E*TRADE services are available just to U.S. residents.
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.
J.P. Morgan Self-Directed Investing Disclosure:
J.P Morgan 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
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