How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- Fidelity and Charles Schwab are the strongest all round brokers for most investors, pairing zero stock commissions with research, retirement accounts, and human support.
- Interactive Brokers wins for active and international traders, with the lowest margin rates in this list and access to markets in dozens of countries.
- Options cost 0.65 dollars per contract at most full service brokers, nothing at Robinhood and Webull, and a capped 1 dollar to open at tastytrade.
- Trading is risky: most active traders lose money, options and margin can lose more than a stock position, and no platform here can change that maths.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 Fidelity | All round investing and retirement | Free | No |
 Charles Schwab | Trading tools plus full service backup | Free | No |
 Interactive Brokers | Active, margin, and global traders | Free | No |
 E*TRADE | Clean platform with Morgan Stanley backing | Free | No |
 tastytrade | Options traders working in size | Free | No |
 Robinhood | Simplest mobile trading | Free | No |
 Webull | Mobile active traders on a budget | Free | No |
 Vanguard | Buy and hold index investors | Free | No |
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We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Starting priceFree
Free planNo
What we like- Fidelity is the most complete default broker in the US: zero commissions on stocks and ETFs, 0.65 dollars per options contract with buy to close orders at low premiums charged nothing, fractional shares, and a deep fund range including zero expense ratio index funds. Idle cash defaults into a government money market fund paying a competitive yield, around 3.5 percent in recent published figures, instead of the near zero sweep rates some rivals quietly pay. Retirement accounts, research, and hundreds of investor centres with human help complete the package.
Watch out for- Fidelity does not offer futures trading, so active traders needing CME products must look at Schwab, E*TRADE, or Interactive Brokers. Its margin rates sit at the high end of this list, above 11 percent at smaller balances in current comparisons. The platform estate is vast, and beginners can find the website's depth overwhelming next to Robinhood's single screen simplicity.
#2Charles Schwab
Best for: Trading tools plus full service backup1.5/5 on
Trustpilot (786 reviews, checked Oct 2026)
Visit schwab.com
Starting priceFree
Free planNo
What we like- Schwab pairs a full service brokerage and bank with thinkorswim, the charting and options platform inherited from TD Ameritrade that active traders still rate at the top of the industry. Stock and ETF trades are free, options cost 0.65 dollars per contract, futures are available, and Schwab adds strong research, retirement planning, and branch support. For an investor who trades actively but also wants a firm that answers the phone, it is hard to beat.
Watch out for- Schwab's default cash sweep pays a token rate, around 0.01 percent in current comparisons, unless you actively move cash into a money market fund, which quietly costs idle cash holders real money. Margin rates are also at the expensive end. The sheer size of the post merger platform means some legacy TD and Schwab features overlap awkwardly.
Starting priceFree
Free planNo
What we like- Interactive Brokers is the professional's retail broker: access to exchanges in dozens of countries, stocks, options, futures, forex, and bonds on one account, and margin rates far below the industry, with published blended rates around 4.4 percent on larger Pro balances against 10 percent or more at mainstream rivals. IBKR Lite gives casual US users zero commissions, while Pro's tiered pricing cuts options to as low as 0.15 dollars per contract at volume. Idle cash earns meaningful interest on Pro accounts above modest thresholds.
Watch out for- The Trader Workstation platform is powerful and famously unforgiving for beginners, and the tiered fee schedules take study to understand. Customer support is thinner and more technical than the hand holding at Schwab or Fidelity. Lite users give up the best margin and routing terms, so the famous pricing belongs to the Pro tier.
#4E*TRADE
Best for: Clean platform with Morgan Stanley backing4.0/5 on
G2 (24 reviews, checked Oct 2026)
Visit etrade.com
Starting priceFree
Free planNo
What we like- E*TRADE, owned by Morgan Stanley, runs two well regarded platforms: the clean web and mobile app for investors, and Power E*TRADE for options and futures traders. Stock and ETF trades are free, options cost 0.65 dollars per contract dropping to 0.50 dollars with 30 or more trades a quarter, and futures are offered at 1.50 dollars per contract. Its retirement and managed account options connect naturally to Morgan Stanley advice for clients who later want it.
Watch out for- E*TRADE's cash sweep pays very little on standard balances, like Schwab's, unless you move money deliberately. Margin rates sit in the same high band as the other full service firms. Since the Morgan Stanley acquisition, the brand's independent roadmap is less distinct, and some traders have drifted to specialist platforms.
Starting priceFree
Free planNo
What we like- Tastytrade was built by options traders, and its pricing shows it: 1 dollar per contract to open, nothing to close, capped at 10 dollars per leg, which makes multi leg spreads far cheaper than the 0.65 dollar standard once size grows. Stock trades are free, futures are 1 dollar per contract, and the platform's probability and volatility displays are designed for the way options traders actually think. Education content from its media arm is extensive and free.
Watch out for- Tastytrade is a trading platform, not a wealth platform: research, retirement planning, and banking are thin compared with Fidelity or Schwab. The interface assumes options knowledge, and beginners can place complex trades before they understand them, which is a risk the low fees amplify. Margin rates sit mid pack, and cash yields are not a selling point.
Starting priceFree
Free planNo
What we like- Robinhood made commission free trading the industry standard and still offers the simplest app in the business, with zero commissions on stocks, ETFs, and options, fractional shares, and a Gold subscription at 5 dollars a month that adds a competitive cash yield and an IRA contribution match. Futures and index options have been added for active users. For a first small account, its clarity is a genuine feature.
Watch out for- Simplicity hides machinery: Robinhood earns heavily from payment for order flow, its research and tools are thin beside thinkorswim or Trader Workstation, and account transfer out fees of 100 dollars sting. Margin rates remain high, and the app will not stop a beginner from overtrading, which is where most losses in this category actually happen. Phone support exists but the service model is app first.
Starting priceFree
Free planNo
What we like- Webull gives mobile first traders charting, screeners, and paper trading that Robinhood lacks, with zero commissions on stocks and options and a small clearing fee on options. It has added futures trading and keeps extended hours access broad. For an active trader who lives on a phone and pays nothing for the platform, the toolset per dollar is strong.
Watch out for- Webull's research, retirement depth, and human support trail the full service brokers, and its margin rates sit near 10 percent in current comparisons. Options pricing carries the extra clearing charge, so the zero headline needs a footnote. The firm has changed ownership structures over the years, and long term investors may prefer the stability records of Fidelity or Vanguard.
Starting priceFree
Free planNo
What we like- Vanguard remains the benchmark for low cost index investing, with an average fund expense ratio around 0.07 percent and a client owned structure that returns profits as lower costs rather than shareholder dividends. Stock and ETF trades are free, its money market yields are competitive, and the platform deliberately does nothing to encourage frequent trading. For a retirement saver who buys index funds monthly and ignores the market, it is arguably the best home on this list.
Watch out for- Vanguard's apps and website trail Fidelity and Schwab for usability, options cost up to 1 dollar per contract, and active traders get little of what they need. Full account transfers out carry a fee, reported at 100 dollars for many accounts. Customer service hours and tools suit patient investors, not people resolving a trade problem at market open.
How we chose
We compared brokers on the costs that remain after zero stock commissions: options contract fees, margin rates, cash sweep yields, transfer fees, platform tools by trading style, and support depth. We favoured SEC registered, SIPC member firms with long operating records and published fee schedules, and we used brokers' own comparison pages and October 2026 fee reporting where firms disagree. We excluded offshore and CFD brokers, since US readers cannot legally use most of them for securities trading, and we excluded crypto only apps.
How to choose the right online broker
Match the broker to the trading you will actually do, not the trading you imagine. If you buy index funds monthly and hold for decades, Fidelity, Schwab, or Vanguard all serve you well, and Fidelity's cash sweep and zero fee funds give it a small edge. If you trade options weekly, compare tastytrade's capped pricing with the 0.65 dollar standard and thinkorswim's tools at Schwab. If you borrow on margin or trade international markets, Interactive Brokers is in a class of one at retail level.
Then check the quiet numbers on the fee schedule before you fund: what idle cash earns, what a transfer out costs, what options exercise and assignment charges apply, and what margin would cost at your realistic balance. Paper trade any active strategy first, since Schwab, Interactive Brokers, and Webull all offer it. Keep the risk framing in front of you throughout: most people who trade actively lose money, borrowed money and options multiply losses as fast as gains, and the best platform is the one that helps you trade less badly, not more often. Fees and rates here are October 2026 published figures and move with markets, so verify the current schedule. This guide is general information, not financial advice.
Frequently asked questions
Are online brokers safe to hold money with?
US brokers on this list are SEC registered and SIPC members, which protects securities and cash up to 500,000 dollars per account, including 250,000 dollars of cash, if the firm fails. SIPC does not protect against market losses: if your investments fall in value, that loss is yours. Brokers also carry excess SIPC policies in many cases, and cash sweep programmes may place cash in partner banks with FDIC cover instead.
Why do brokers charge nothing for stock trades?
Because they earn elsewhere: payment for order flow from market makers, interest on margin loans and idle cash, options and futures fees, and subscription products. Zero commission is real, but it is not charity, and the quality of order execution is part of what you should compare, since a slightly worse fill price can cost more than an old style commission.
How much do options really cost?
At Fidelity, Schwab, and ETRADE the standard rate is 0.65 dollars per contract, with ETRADE dropping to 0.50 dollars at volume. Robinhood and Webull charge no commission, though Webull adds a small clearing fee. tastytrade charges 1 dollar to open and nothing to close, capped at 10 dollars per leg. Interactive Brokers Pro tiers down to 0.15 dollars at high volume. Exercise and assignment fees vary and sit outside these rates.
What is a margin rate and who should care?
A margin rate is the interest charged when you borrow against your investments to buy more. It matters because the spread is huge: Interactive Brokers Pro publishes blended rates near 4.4 percent on larger balances, while mainstream brokers charge 10 to 13 percent at smaller balances. At those rates, a borrowed position must gain a lot just to break even, which is one reason margin is where many active traders lose money.
Which broker is best for a beginner?
For a beginner investing for the long term, Fidelity is the safest default: free trades, fractional shares, strong education, good cash yield, and real human support. Robinhood is simpler, and its Gold IRA match is attractive, but its design encourages frequent trading, which is the behaviour most likely to lose a beginner money. Whichever you choose, start with broad index funds rather than options or margin.
Sources we checked (0)
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.