Online Brokers Compared
A side-by-side look at 16 US online brokers. Nearly all charge $0 stock and ETF commissions now, so the real differences are options fees, what idle cash earns, margin rates and the cost of leaving. Filter and sort to find the one that fits how you invest.
Fees checked October 19, 2026
There is no single "best" broker; it depends on whether you invest for the long term or trade actively, whether you want IRAs and index funds or options and charting, and whether you value branches, an app, or the lowest costs. The table below compares 16 US brokers on what matters. Use the filters for beginners, options, IRAs, fractional shares, or advanced tools. We focus on the brokers, not stock tips. Nothing here is investment advice.
Compare online brokers
| Broker | Type | Stock/ETF | Options | Account min | Best for |
|---|---|---|---|---|---|
| FidelityFidelity InvestmentsFractional | Full-service | $0 | $0.65/contract | $0 | Long-term investors and IRA savers who want $0 transfer-out and IRA fees and a money market fund as the cash option |
| Charles SchwabCharles SchwabFractional | Full-service | $0 | $0.65/contract | $0 | Investors who want branches, banking and the thinkorswim trading platform in one account |
| VanguardThe Vanguard GroupFractional | Discount | $0 | $1.00/contract | $0 | Buy-and-hold investors who mainly hold Vanguard funds and ETFs and rarely trade |
| RobinhoodRobinhood MarketsFractional | App-first | $0 | $0 stock/ETF options; index options $0.50 ($0.35 with Gold) | $0 | App-first investors and traders who want $0 stock options and margin from 5.25%, and will pay for Gold to earn interest on cash |
| WebullWebullFractional | App-first | $0 | $0 stock/ETF options; index options $0.50 | $0 | Active app traders who want $0 stock options and a desktop platform, and may pay for Premium margin rates |
| E*TRADEMorgan StanleyFractional | Full-service | $0 | $0.65/contract ($0.50 with 30+ trades a quarter) | $0 | Options traders who place 30+ trades a quarter and want a full-service broker owned by Morgan Stanley |
| Interactive BrokersInteractive BrokersFractional | Advanced | $0 (IBKR Lite); from $0.005/share (Pro) | $0.65/contract ($1 minimum) | $0 | Experienced and international investors who want 175 markets and margin from 5.38% (Pro) |
| Merrill EdgeBank of America | Bank-owned | $0 | $0.65/contract | $0 | Bank of America customers who want brokerage linked to their BofA accounts |
| SoFi Active InvestSoFiFractional | App-first | $0 | $0 | $0 ($5 to start investing) | SoFi banking customers who want stocks, $0 options and an IRA match in the same app |
| M1 FinanceM1Fractional | App-first | $0 | n/a (no options) | $100 ($500 for IRAs) | Hands-off investors who want automatic "pie" portfolios and a low flat margin rate |
| PublicPublic HoldingsFractional | App-first | $0 | $0 stock/ETF options (rebate program); index options $0.35 | $0 | App investors who want stocks, options, Treasuries and a high-yield cash account in one place |
| MoomooMoomooFractional | App-first | $0 (platform fee waived during a promotion) | $0 stock/ETF options; index options $0.50 | $0 | Active traders who want US, Hong Kong and China A-share access in one app and do not need an IRA |
| TastytradetastytradeFractional | Advanced | $0 (plus $0.0008/share clearing) | $1 to open, $0 to close ($10 max per leg) | $0 | Options traders who open large orders and want the commission capped at $10 per leg |
| Ally InvestAlly Financial | Bank-owned | $0 (stocks $2+) | $0.50/contract | $0 | Ally Bank customers who want investing next to their Ally accounts and $0.50 options contracts |
| J.P. Morgan Self-DirectedJPMorgan ChaseFractional | Bank-owned | $0 | $0.65/contract (single-leg only) | $0 | Chase customers who want simple stock and ETF investing inside the Chase app |
| StashStash (Grab Holdings)Fractional | App-first | $0 trades with the $12/mo Stash Plan | n/a (no options) | $0 (invest from $5 or less) | Beginners who want a guided app with fractional shares, a retirement account and advice for one flat monthly price |
No brokers match those filters.
The fees that actually differ
Stock and ETF trades are $0 almost everywhere, so the cost of a broker shows up elsewhere: per-contract options fees, what your idle cash earns, the margin rate, and what it costs to leave. Every figure below comes from the broker's own fee schedule, margin or cash page, read on October 19, 2026.
| Broker | 10-contract options trade, open + close | Rate on idle cash | Margin rate on $10,000 | Transfer out |
|---|---|---|---|---|
| Fidelity | $13 | 3.48% 7-day yield if you pick SPAXX (no default named) | 12.075% | $0 |
| Charles Schwab | $13 | 0.01% | 12.075% | $50 |
| Vanguard | $20 | 3.82% (7-day yield) | 12.25% | $100 |
| Robinhood | $0 | 0% | 5.25% | $100 |
| Webull | $0 | Not published | 8.74% | $75 |
| E*TRADE | $13 | 0.01% | 12.45% | $75 |
| Interactive Brokers | $13 | 0% on the first $10,000; 2.38% above (Lite) | 6.38% | $0 |
| Merrill Edge | $13 | 0.01% | Not published | $49.95 |
| SoFi Active Invest | $0 | Not published | 9.75% | $100 |
| M1 Finance | No options | 0% | 5.9% | $100 |
| Public | $0 | Not published | 5.15% | $100 |
| Moomoo | $0 | Not published | 6.8% | $100 |
| Tastytrade | $12 | Not published | 11% | $75 |
| Ally Invest | $10 | 0% | 11.5% | $50 |
| J.P. Morgan Self-Directed | $13 | 0.01% | 11.75% | $75 |
| Stash | No options | Not published | No margin | $100 |
Options cost is commission plus the broker's own per-contract fees, before small regulatory and exchange fees. Idle cash: the rate on cash you leave uninvested without choosing another option; several brokers pay more on a fund or account you have to pick, and a few publish no rate at all (details in each review). Interactive Brokers: IBKR Lite rates. Rates change with the Federal Reserve's rate.
How to choose a broker
- Leaving cash uninvested? Vanguard sweeps it into a money market settlement fund and Fidelity lets you pick a money market core position; Schwab, E*TRADE, Merrill and J.P. Morgan pay 0.01% APY on swept cash unless you buy a fund yourself.
- Trading options? Robinhood, Webull, Public, Moomoo and SoFi charge $0 per contract on stock and ETF options; tastytrade caps its $1 opening commission at $10 per leg; Fidelity, Schwab, E*TRADE, Merrill and J.P. Morgan charge $0.65. See also our options trading platforms guide.
- Borrowing on margin? Rates on a $10,000 balance run from 5.15% (Public) to 12.45% (E*TRADE): compare the table above before you borrow, and remember margin can lose more than you put in.
- Might move later? Fidelity and Interactive Brokers charge $0 to transfer out; most others charge $50 to $100.
- Already bank somewhere? Merrill Edge (Bank of America), Ally Invest and J.P. Morgan Self-Directed (Chase) sit next to the bank accounts you already have.
- Want it done for you? See robo-advisors instead of a self-directed broker.
- Ready to open one? Our step-by-step guide to opening a brokerage account covers the documents, account types, funding and moving an old account.
Once you have picked a broker, put it to work: plan contributions with the free compound interest calculator, and if you are choosing funds, see our ETF comparisons and stock analysis tools.
Popular comparisons
Deciding between two specific brokers? These head-to-head breakdowns go deeper:
How we compare
We read each broker's own fee schedule, margin-rate page, cash-sweep disclosures, Form CRS and regulator records (SEC, FINRA BrokerCheck), quote every fact from those sources and link them in each review. We did not open accounts or run hands-on tests, and we do not score brokers with stars. Cost figures are our arithmetic from published fees. We re-check fees and rates about once a month. We do not earn a commission from any broker on this page. Nothing here is investment advice.