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Best Online Brokerage

8 best online brokerage accounts

Eric Esposito

Fact checked by Clay Halton

Updated May 19, 2025

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A brokerage account is your gateway to investing, giving you access to buy and sell stocks, ETFs, mutual funds and more. But with so many options on the market, finding the best one can be challenging. Whether you’re looking for low fees, robust trading tools, or top-notch customer support, we’ve rounded up the best brokerage accounts to help you make an informed choice.

Best brokerage accounts

  • Methodology: How we rank the best alternative investment platforms

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    Our ranking methodology

    The best online brokerage accounts reviews and ratings are determined by seven Moneywise subject matter experts. We focused on factors that matter most to everyday users, following strict editorial integrity standards to help you make informed decisions with confidence.

    Our team includes fintech journalists, analysts, and investing pros — people who know what matters and what doesn’t.

    While the platforms featured in this article were independently selected, some links may be from our sponsors.

    Our evaluation process

    We collected and evaluated over 5000+ data points and dug deep into more than 19 platforms — from niche players to big names — to find the best options for your money. We want you to confidently choose platforms that match your goals.

    Moneywise.com rates products and services on a scale of 1 to 5 stars, with 5 stars being the highest rating. Our evaluation considers the most important factors for investors, including: customer support, educational resources, ease of use, app performance and features, brand reputation, assets and investment types offered, fees, and hidden fees.

    Our data-driven approach

    Every rating and review is rooted in research. We do compare partners, but we do not accept paid placements — putting readers first.

    Each factor was appropriately weighted to fairly compare providers based on the data points collected, reflecting the needs of both beginner and experienced investors

    Our goal

    Our mission is to provide independent, transparent reviews so you can confidently choose the best platform for your investment needs.

Best online broker overall: Interactive Brokers

Interactive Brokers logo
Fast facts:
  • Investment type offered: Stocks, ETFs, mutual funds, options, futures, forex, bonds, commodities and cryptocurrencies
  • Minimum investment: $0
  • Fees: Fixed or tiered fees that vary depending on IBKR Lite versus IBKR Pro
  • Robo-advisor available: Yes
  • Research tools: Yes
  • ESG investing: Yes

  • Why we chose Interactive Brokers

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    Interactive Brokers (IBKR) has been around since 1978, and it has become a powerhouse for investors around the world. Available in 30+ countries and connected with hundreds of asset categories and markets, this brokerage likely has a way to get exposure to whatever financial products strike your fancy. And it’s not just the variety of assets that makes IBKR stand out.

    For instance, IBKR often ranks as having some of the lowest trading fees and margin rates. Traders also love all of the advanced order types and technical tools on IBKR’s proprietary Trader Workstation (TWS) software.1 While there is a learning curve when getting involved with IBKR, it’s a great all-around account in terms of its available assets, attractive fee structure and reputation.

Interactive Brokers pros and cons

  • Strong reputation: While it’s not the oldest brokerage, IBKR has a long history of transparency and security.
  • Wide range of assets: Beyond stocks and ETFs, you can access dozens of other assets like futures, forex and crypto on IBKR.
  • Advanced trading tools: IBKR is a day trader’s dream come true with technical indicators galore and exceptional execution speeds.
  • Not the most beginner-friendly: While IBKR has an education hub and features like automated investing and fractional shares, the layout isn’t as beginner-friendly as competitors.
  • Fee complexity: IBKR has competitive fees, but reviewing its tiered and fixed choices across assets takes time.2
  • Customer service complaints: IBKR has a modest 2.8-star average on Trustpilot, with most complaints centered around slow customer service.3

Best online brokers for beginners: Fidelity

Fidelity logo
Fast facts:
  • Investment type offered: Stocks, ETFs, mutual funds, crypto, options, bonds, CDs and IPOs
  • Minimum investment: $0
  • Fees: $0 commission for online US stocks, Fidelity mutual funds, and ETFs; contract fees, advisory fees, and service fees may apply
  • Robo-advisor available: Yes
  • Research tools: Yes
  • ESG investing: Yes

  • Why we chose Fidelity

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    Fidelity Investments is a force in modern finance with $15 trillion in assets under management (AUM).4 With roots going back to the 1940s, this massive financial services firm is one of the largest in the world, which translates to a lot of offerings for clients. While mutual funds and ETFs are Fidelity’s main offerings, you can choose from solo stocks, options, bonds and crypto-related assets with a brokerage account.5

    Fidelity has an advanced trading suite called Active Trader Pro (ATP) with powerful technical analysis tools and multiple precise order types.6 But for those just starting, don’t worry — Fidelity has plenty of features like fractional shares and automated offerings, including a robo-advisor called Fidelity Go.7 The security of this brand, coupled with all of these investing options, makes Fidelity one of the best brokerages for beginners to consider.

Fidelity pros and cons

  • Low fees for trading: There are no commissions on US stocks and ETFs, zero-expense ratios on Fidelity’s FidFolios, and low contract fees on options.8
  • Multiple advisory offerings: Whether you want a robo-advisor or a one-on-one agent, Fidelity has plenty of ways to offload the responsibility of managing your investments.
  • Strong reputation and reliability: Fidelity is a long-standing company with a high reputation for security and stability.
  • Lacks more advanced assets: Experienced traders may not like that Fidelity doesn’t offer trading for some assets, such as futures and forex.
  • High broker-assisted trade fees: If you opt to place a trade with the help of a Fidelity representative, it’ll likely cost a high fee.9
  • Limited crypto offerings: Although Fidelity offers ways to get into crypto, they aren’t direct and there are limited options.

Best for low fees: Vanguard

Vanguard logo
Fast facts:
  • Investment type offered: Stocks, ETFs, mutual funds, bonds, CDs, annuities and money market funds
  • Minimum investment: $1,000
  • Fees: $0 commission for US stock, ETF and options trades; mutual fund expense ratios; advisory, service and contract fees may apply
  • Robo-advisor available: Yes
  • Research tools: Yes
  • ESG investing: Yes

  • Why we chose Vanguard

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    Similar to Fidelity, Vanguard is a robust financial firm that’s an attractive brokerage for people who want an established brand with low fees. This company is particularly attractive with long-term investors focused on low-cost, passive investing. After all, Vanguard’s claim to fame is introducing the first S&P 500 index fund, and it continues to be best known for its low-fee mutual funds and ETFs.

    Most of these funds come with industry-leading low-expense ratios, and its self-directed brokerage charges no commissions on online trades for US stocks, ETFs and Vanguard mutual funds.10 For more automation, Vanguard also offers a robo-advisor service and plenty of wealth management accounts. While not ideal for active traders, Vanguard shines as a low-cost, long-term option thanks to its low fees and diversified portfolios.

Vanguard pros and cons

  • Attractive fees and expense ratios: Many investors first become interested in Vanguard because of its low-expense ratios and zero commissions on US stocks, ETFs and Vanguard mutual funds.
  • Long-standing reputation for retirement planning: Vanguard is particularly well-known as a long-term investment platform thanks to its focus on diversified instruments like index funds.
  • Multiple advisory services: There are many accessible ways to let Vanguard manage your money, either through its robo-advisory platform or human advisors.
  • Minimums for mutual funds: To invest in one of Vanguard's famous mutual funds, you need between $1,000 and $3,000.11
  • Lacks advanced trading features: While it’s possible to day trade on Vanguard, it doesn’t have the highest reputation for technical charting or execution speed.
  • Focuses on conservative assets: Compared with other brokerages, Vanguard sticks with more traditional asset categories and doesn’t offer access to futures, forex or crypto.12

Best for retirement planning tools: E*TRADE

E*TRADE logo
Fast facts:
  • Investment type offered: Stocks, ETFs, mutual funds, options, futures, bonds and CDs
  • Minimum investment: $0
  • Fees: $0 commission for US stocks and ETFs; contract, advisory and service fees may apply
  • Robo-advisor available: Yes
  • Research tools: Yes
  • ESG investing: Yes

  • Why we chose E*TRADE

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    Morgan Stanley’s E*TRADE is another strong contender for investors who want a reliable brokerage with low fees and many investment options. Beginners love features like E*TRADE’s convenient mobile app and educational resources, while more advanced users can take advantage of options, margin and futures trading at competitive rates.13 As a part of Morgan Stanley, E*TRADE also excels in offering plenty of retirement planning services, whether through IRA rollovers or robo-advisors like its Core Portfolios.14 While not the most robust in terms of features and charting analysis, E*TRADE is a convenient pick for those who want a well-rounded brokerage with plenty of investment choices.

E*TRADE pros and cons

  • Low fees and multiple assets: E*TRADE users don’t have to worry about commissions on stocks or ETFs, and contract rates are low for options and futures.
  • Backing of Morgan Stanley: As a part of the Morgan Stanley family, E*TRADE has a strong safety profile and integrations with other financial resources.
  • Easy-to-use mobile app: E*TRADE’s mobile app is user-friendly and has solid rankings on iOS and Android.
  • Access to robo-advisory service: The E*TRADE Core Portfolios gives investors a hands-off way to invest with a small minimum deposit.
  • No fractional shares: While E*TRADE offers many beginner-friendly tools, it doesn’t offer fractional share investing.
  • Limited advanced trading tools: Professional traders won’t find sophisticated order types or technical analysis tools with an E*TRADE account.
  • No crypto or forex trading: Although E*TRADE has many asset categories, it currently doesn’t offer crypto or forex exposure.

Best for automated investing: Stash

Stash investing logo
Fast facts:
  • Investment type offered: Stocks and ETFs
  • Minimum investment: $5
  • Fees: $3 or $9 per month
  • Robo-advisor available: Yes
  • Research tools: Educational resources, analysis and ideas
  • ESG investing: Yes

  • Why we chose Stash

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    Beginner investors looking for a user-friendly, mobile-first platform might sync with Stash’s interface. Launched in 2015, Stash gained a strong reputation from people just starting out in the stock market thanks to its low minimums, transparent monthly fees, and accessible features like fractional shares and robo-investing. In addition to opening a solo brokerage account for stock and ETF investing, you can easily rollover retirement accounts like a traditional or Roth IRA into Stash to start saving for your golden years.15

    As an optional perk, Stash offers a unique “stock-back” debit card that rewards users with 3% back in their preferred equity.16 While some may not like the recurring monthly fees or the lack of investment options, Stash stands out for investors looking for a straightforward stock-focused platform that works great on a smartphone.

Stash pros and cons

  • Easy-to-use platform: Stash’s app has an intuitive design and many positive ratings on the App Store and Google Play.
  • Low fees and minimums: Stash has a transparent monthly fee model, and it only costs $5 to start investing in fractional shares.17
  • Robo-advisory option: If you’d prefer a hands-off investing approach, Stash offers an automated investing option.18
  • Positive Trustpilot ratings: Although Stash isn’t an accredited BBB business, it has positive rankings on Trustpilot.19
  • Monthly subscription model: While Stash’s monthly fee rate is easy to understand, it may not be as cost-effective as other brokerages in the long run.
  • Limited to stocks and ETFs: People who want to branch out from equities won’t find alternative opportunities on Stash.
  • Lacks advanced trading features: Don’t expect to find advanced analytics or technical tools on this beginner-friendly platform.

Best for active investors: tastytrade

tastytrade logo
Fast facts:
  • Investment type offered: Stocks, ETFs, options, futures, micro futures and crypto
  • Minimum investment: $0
  • Fees: $0 for stocks/ETFs to open and close, but contract-based fees for options and futures. Other fees may apply (regulatory, service, crypto, etc.)
  • Robo-advisor available: No
  • Research tools: Options backtesting, portfolio risk analysis, charting tools and access to live and on-demand educational content through tastylive.
  • ESG investing: Available through self-directed selection of ESG-themed assets

  • Why we chose tastytrade

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    Active traders who don’t need a lot of hand-holding are often impressed by tastytrade’s features. This advanced brokerage caters to day and swing traders most interested in sophisticated strategies that require multiple order types, powerful charting tools and technical indicators. While tastytrade’s advanced features can be daunting for beginners, it excels for more experienced traders who appreciate its no-commission structure and low contract fees on options and futures.20

    More recently, tastytrade has entered the crypto game with an assortment of coins, futures and ETFs, and it’s well-known for an attractive margin schedule.21 To keep traders up-to-date, tastytrade boasts a repository of educational content and a dedicated news and analysis station called tastylive.22 Although tastytrade isn’t a wise choice for beginners and passive investors, it’s one of the go-to brokerages for those who want powerful tools for fast trades.

tastytrade pros and cons

  • Low fees and margin rates: Frequent traders appreciate tastytrade’s compelling fee schedule, including no commissions on US stocks and ETFs as well as competitive margin rates.
  • Access to multiple markets: Beyond standard stocks, ETFs, and options, you can invest in futures, micro-futures, and digital assets like Bitcoin with a tastytrade account.
  • Many tools for technical traders: A key selling point for tastytrade’s platform is its wealth of technical indicators and customizable charting tools.
  • Educational resources: In addition to its wealth of written content, tastytrade has the tastylive network to keep traders in the loop.
  • Tailored for advanced traders: People who crave simplicity and passive investing won’t love tastytrade’s complex layout.
  • No advisory choices: There’s no way to hand your money off to a wealth manager or robo-advisor on tastytrade’s platform.
  • No mutual funds or forex: Although tastytrade has numerous financial vehicles, it doesn’t offer a few choices, like mutual funds or foreign currencies.

Best all-in-one platform: SoFi

SoFi logo
Fast facts:
  • Investment type offered: Stocks, ETFs, options, mutual funds and alternative funds
  • Minimum investment: $0
  • Fees: $0 commission for stocks and ETFs. Other fees may apply for some services, including transfers, IRA closures and advisory fees.
  • Robo-advisor available: Yes
  • Research tools: Educational resources, financial advisor consultation, news and updates within the app.
  • ESG investing: Yes

  • Why we chose SoFi

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    Social Finance (SoFi) started by revolutionizing how students manage their college loans, but it has since grown to become a comprehensive financial app with access to various features like investing. On SoFi’s user-friendly platform, investors enjoy commission-free trading for stocks, ETFs, and options and access to alternative assets like pre-IPO companies and commodities.23

    One feature that sets SoFi apart is its complimentary session with a Certified Financial Planner (CFP) to talk about your most pressing money questions.24 SoFi also offers an automated investing option for those who are interested in a robo-advisor.25 While SoFi doesn’t have deep research tools or advanced trading features, its simplicity, low fees and access to multiple services make it a great all-around pick for many investors.

SoFi pros and cons

  • Free consultation with a human advisor: One of the major perks of joining SoFi is you get a free consultation call with a financial advisor.
  • High online reviews: SoFi enjoys near-perfect scores for its app on iOS and Android, as well as excellent ratings on Trustpilot.26
  • Robo-advisory service: Anyone who prefers passive investing should consider SoFi’s automated robo-advisor service.
  • Access to alternative assets: SoFi offers access to many alternative assets for those who want to diversify their portfolios.
  • Limited technical tools: People could use SoFi for short-duration trades, but it doesn’t have the technical features, execution speeds, or advanced order types professional traders crave.
  • No crypto trading: While SoFi offered crypto in the past, it no longer lets people buy digital assets like Bitcoin or Ethereum.27
  • Inactivity fee: Keep in mind that SoFi charges an inactivity fee if you forget to log into your account at least once every six months.28

Best for crypto: Robinhood

Robinhood logo
Fast facts:
  • Investment type offered: Stocks, ETFs, options, futures and crypto
  • Minimum investment: $1
  • Fees: $0 commission for stocks and ETFs. Other fees may apply, including contract-based, advisory and service fees.
  • Robo-advisor available: Yes
  • Research tools: Robinhood Legend dashboard, technical indicators, educational resources, stock screeners, custom intervals and advanced order types.
  • ESG investing: Yes

  • Why we chose Robinhood

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    Robinhood shook up the brokerage industry when it introduced commission-free trades on its sleek, smartphone-friendly app. While commission-free trading no longer sets Robinhood apart, this mobile-first brokerage continues to attract investors with innovative financial products and services. For instance, beyond buying stocks, options and ETFs, Robinhood now offers futures and direct crypto trading.

    In 2024, Robinhood unveiled its advanced trading portal, "Robinhood Legend," offering day and swing traders an attractive suite filled with charting tools and indicators.29 Robinhood has also become more involved in long-term investing with both a robo-advisory service called Robinhood Strategies and IRA rollovers.30 Despite its comparative youth versus brokerages like Fidelity and Vanguard, Robinhood is a strong contender for many mobile-friendly investors.

Robinhood pros and cons

  • Easy-to-use platform: Robinhood’s mobile app is well known for its intuitive display and has high rankings on iOS and Android.
  • Low fees and margin rates: Robinhood ranks as one of the cheapest brokerages with commission-free trading, low contract fees and competitive margin rates.31
  • Direct access to crypto: Traders on Robinhood can buy over a dozen digital assets directly and transfer them to a self-custodial wallet.32
  • IRA contribution match: One of Robinhood’s biggest perks is its 1% to 3% match on IRA contributions.
  • Complaints with customer service: Despite high rankings for Robinhood’s mobile app, this platform struggles with poor rankings on Trustpilot for its customer care.33
  • Regulatory controversies: Over the years, Robinhood has been involved in a few scandals including a 2020 SEC fine for misleading customers about how it made money.34
  • History of outages: Robinhood has experienced a few high-profile outages during periods of heavy market activity that temporarily prevented users from accessing their accounts.35

Which brokerage account is right for you?

Unlike a few years ago, it’s now commonplace to find a brokerage that offers easy commission-free access to stocks and ETFs. While most brokers share this trait, the other tools and features they offer investors vary. 

Brokerage account
Who is it for and why?
Interactive Brokers
Ideal for experienced traders who want low fees, advanced tools, and global market access to a wide range of assets 
Fidelity
Offers options for investors of all skill levels with low fees, strong research and a full suite of investment offerings 
Vanguard
Perfect for long-term, buy-and-hold investors focused on index funds and retirement planning
E*TRADE
Works for both active traders and beginners with a user-friendly interface and attractive fees for major investment categories
Stash
Designed for beginners who value simplicity and want to start small with stock and ETF investing 
tastytrade
A good fit for active, options-focused traders who want powerful technical tools and customizable trade setups 
SoFi
Ideal for new investors looking for a simple low-fee platform with access to free financial advice and a wide array of services and investment choices 
Robinhood
Perfect for mobile-first investors who want commission-free trading on stocks, ETFs, options and cryptocurrencies

How do online brokerages protect you in the trading process?

Virtually all online stock brokers maintain strong security procedures to protect you while you’re accessing your account. While that doesn’t mean risk is totally off the table, it’s less likely considering all of the safeguards brokerages have in place to secure your funds. 

Common broker security measures include:

  • Secure Sockets Layer (SSL) encryption. This typically includes the use of a 128-bit key to encrypt and decrypt data files. 128-bit encryption is generally considered to be “unbreakable” because it would take thousands of years of computation to hack.
  • Secure servers. Encrypted data is stored behind monitored firewalls in fully secured facilities.
  • Two-step authentication. This feature is an additional login step you use after entering your passcode. It’s best practice to take advantage of this step if you have the option, as it puts an extra barrier between your account and a potential hacker.
  • Automatic logout. To prevent prying eyes or hacking attempts, your brokerage account should automatically close out after a few minutes of inactivity.
  • System monitoring. Your brokerage will routinely monitor its entire software system for vulnerabilities and upgrade its systems as necessary.

How to choose the best online brokerage

Choosing the best online brokerage depends on your trading style and goals. For instance, what works for an active day trader isn’t suitable for a beginner who wants plenty of passive options. Be sure to keep a few features in mind when evaluating different choices and consider where they rank on your preference list: 

Feature
What to consider
Cost per trade
Compare the brokerage’s full fee structures, including any commissions, service fees and “sneaky charges” like inactivity or data streaming. 
Minimum investment
Many brokers require little or no upfront deposit, but be sure you know how much you need to deposit to keep an active account. Also, look into whether there are more accessible features like fractional shares. 
Account types
On top of individual and joint accounts, see if your brokerage supports IRAs for retirement or custodial accounts for your children. 
Ease of use
A clean, efficient platform can make a big difference, especially if you’re just starting.
Investment options
Stocks and ETFs are usually standard. After that, look into whether your broker has the alternatives you’re interested in, such as crypto, ESG offerings, bonds, mutual funds or futures.
Investment advice
People who aren’t familiar with investing may prefer brokers like SoFi and Fidelity that offer personalized guidance from financial advisors. 
Customer support
Look into the communication channels and availability of a broker’s customer care team and consider giving it a “test run” by calling a representative.

  • Which is the best brokerage account?

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    The best brokerage account depends on your needs. Typically, passive investors and beginners prioritize brokerages that have an easy-to-use layout and low barriers to entry to start investing. By contrast, more advanced traders look for platforms with sophisticated charting and technical analysis tools, as well as fast execution speeds and multiple order types.

  • Which broker is best for a beginner?

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    For complete beginners, look for a brokerage with a reputation for an intuitive interface, strong customer support and educational resources. It may also help to pick a brokerage that has hands-off features like a robo-advisor or financial manager to help take the stress of investing off your hands.

  • Who are the “Big 4’ brokers?

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    Due to their long reputations and massive scale, the Big 4 US brokers are Charles Schwab, Fidelity, Vanguard and JP Morgan.

  • Should I keep more than $500,000 in a brokerage account?

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    Since the Securities Investor Protection Corporation (SIPC) protects your brokerage account up to $500,000 (including a $250,000 limit for cash), it’s “safe” to keep $500K in one SIPC-insured brokerage, even in a liquidation event. In this exceptional case, there’s a chance accounts over $500K won’t recover all their funds. For maximum security, it’s best to open another SIPC-insured brokerage account if you have more than $500K in investments.

Advertiser Disclosure – This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and Moneywise, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. Moneywise is not a member of FINRA or SIPC.

Eric Esposito Freelance Contributor

Eric Esposito is a freelance contributor on MoneyWise with an interest in financial markets, investing, and trading. In addition to MoneyWise, Eric’s work can be found on financial publications such as WallStreetZen and CoinDesk. When not researching the latest stock market trends, Eric enjoys biking, walking his dog, and spending time with family in Central Florida. Eric holds a BA in English from Quinnipiac University.

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