What Is a Good Broker? Ultimate Guide to Choosing the Best Brokerage in 2025

Bankrate’s list of the best online brokers is a great place to start if you want to start investing or find a new brokerage account. The best ones have low fees, good trading platforms, a lot of research and education materials, and helpful customer service. These are all things that will help you do well as an investor. Bankrate logo.

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Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

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If you’re starting to invest or looking for a new brokerage account, checking out Bankrates list of the best online brokers is a great place to begin. The best ones have low fees, good trading platforms, a lot of research and education materials, and helpful customer service. These are all things that will help you do well as an investor. Bankrate logo.

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Heres an explanation for . Bankrate logo.

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.

Our investing reporters and editors focus on the points consumers care about most — how to get started, the best brokers, types of investment accounts, how to choose investments and more — so you can feel confident when investing your money.

The investment information in this table is only meant to be educational and informative. It should not be taken as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. When you decide what investments to make, you should look at your own finances, needs, risk tolerance, and investment goals. Investing involves risk including the potential loss of principal. Bankrate logo.

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo

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Best online brokers for 2025

• If you’re looking for a broker that can do everything, Fidelity is a great choice. It has a reputation for being investor-friendly, a lot of free research and tools, quick customer service, and a wide range of retirement accounts. Investors who want to save money don’t have to worry about the Boston-based broker charging them a lot of account fees when they trade stocks, ETFs, and thousands of mutual funds with no transaction fees. With a $0 account minimum and a program that lets you buy fractional shares, you can start investing with as little as $1. Fidelity is a great choice for new investors because it has a lot of research and learning tools. If you’re looking for a broker that can do everything, Fidelity is a great choice. It has a reputation for being investor-friendly, a lot of free research and tools, quick customer service, and a wide range of retirement accounts. Investors who want to save money don’t have to worry about the Boston-based broker charging them a lot of account fees when they trade stocks, ETFs, and thousands of mutual funds with no transaction fees. With a $0 account minimum and a program that lets you buy fractional shares, you can start investing with as little as $1. Fidelity is a great choice for new investors because it has a lot of research and learning tools.
• Overall experience, first-time investors, and customer service Overall experience, first-time investors, and customer service
• No fee to trade stocks or ETFs; 65¢ per options contract. No fee to trade stocks or ETFs; 65¢ per options contract.

• Charles Schwab has good research, low fees, and no account minimum. They also have a fair trading commission. Beginners will like that there are no commissions and thousands of funds with no transaction fees. More experienced traders will like the thinkorswim platform, which was brought over from TD Ameritrade’s purchase of the broker. Schwab is also known for putting the needs of its customers first by putting an emphasis on education for investors and keeping that up with quick customer service. Schwab may be a good choice for buy-and-hold investors because it has low trading costs, low-fee funds, and many retirement account options. Charles Schwab has good research, low fees, and no account minimum. They also have a fair trading commission. Beginners will like that there are no commissions and thousands of funds with no transaction fees. More experienced traders will like the thinkorswim platform, which was brought over from TD Ameritrade’s purchase of the broker. Schwab is also known for putting the needs of its customers first by putting an emphasis on education for investors and keeping that up with quick customer service. Schwab may be a good choice for buy-and-hold investors because it has low trading costs, low-fee funds, and many retirement account options.
• Overall experience, research, customer support Overall experience, research, customer support
• No fee to trade stocks or ETFs; 65¢ per options contract. No fee to trade stocks or ETFs; 65¢ per options contract.

• People who use Ally Bank and want an extra broker that can do all kinds of trades—stocks, ETFs, bonds, mutual funds, and even forex for more experienced traders—can get Ally Invest. Ally does not charge a fee to trade stocks or ETFs, like most online brokers do. The best thing about this is that Ally’s commission on options contracts is the lowest in the business, at just 50 cents. The broker also doesn’t charge any fees to trade more than 17,000 mutual funds. However, some funds may have other fees that the broker has to pay. People who use Ally Bank and want an extra broker that can do all kinds of trades—stocks, ETFs, bonds, mutual funds, and even forex for more experienced traders—can get Ally Invest. Ally does not charge a fee to trade stocks or ETFs, like most online brokers do. The best thing about this is that Ally’s commission on options contracts is the lowest in the business, at just 50 cents. The broker also doesn’t charge any fees to trade more than 17,000 mutual funds. However, some funds may have other fees that the broker has to pay.
• Low trading fees for Ally Bank customers Low trading fees for Ally Bank customers
• It costs 50 cents per options contract and nothing to trade stocks or ETFs.

• If you’re a more active trader, E-Trade should be on your list of brokerage accounts to look into. The broker has a number of highly rated trading platforms that give clients access to a lot of research and market commentary. You can easily handle many types of assets with E-Trades’ advanced tools, such as stocks, bonds, options, ETFs, mutual funds, futures, and more than 5,000 mutual funds, all without having to pay any fees. Customer service is also available when you need it, 24 hours a day, seven days a week, via phone, email, and online chat. If you’re a more active trader, E-Trade should be on your list of brokerage accounts to look into. The broker has a number of highly rated trading platforms that give clients access to a lot of research and market commentary. You can easily handle many types of assets with E-Trades’ advanced tools, such as stocks, bonds, options, ETFs, mutual funds, futures, and more than 5,000 mutual funds, all without having to pay any fees. Customer service is also available when you need it, 24 hours a day, seven days a week, via phone, email, and online chat.
• Active trading, strong trading platforms, and mutual funds with no transaction fees are all things that are available this year.
• You don’t have to pay anything to trade stocks or ETFs. Instead, you’ll only have to pay 65 cents per options contract. If you trade 30 or more times in a quarter, you’ll only have to pay 50 cents per contract.

• Firstrade lets investors trade stocks, ETFs, and options without having to pay any fees. This is still not common among brokers. You can also choose from a number of different account types, such as a range of IRAs and education savings accounts, as well as a good research account. Firstrade’s mobile app is highly rated and offers advanced features. Along with these great features, Firstrade lets you trade more than 11,000 mutual funds without any fees. However, the funds may still charge sales commissions. Fractional shares of stock can be bought for as little as $5. This lets you own a piece of expensive companies without having to make a big investment all at once. Firstrade lets investors trade stocks, ETFs, and options without having to pay any fees. This is still not common among brokers. You can also choose from a number of different account types, such as a range of IRAs and education savings accounts, as well as a good research account. Firstrade’s mobile app is highly rated and offers advanced features. Along with these great features, Firstrade lets you trade more than 11,000 mutual funds without any fees. However, the funds may still charge sales commissions. Fractional shares of stock can be bought for as little as $5. This lets you own a piece of expensive companies without having to make a big investment all at once.
• Options traders, research, mobile app Options traders, research, mobile app
• If you trade stocks or ETFs, you won’t be charged anything. If you trade options, you won’t be charged anything either.

• It looks like Interactive Brokers is a simple broker because its trading interface is very simple. But this “broker to the pros” has done everything it can to make things great for active traders. It’s not a surprise that advanced traders and people who care about small details, like quick trade execution, love it. There are discounts based on volume and a trading platform for professionals that draw in many of these active traders. Interactive Brokers is a great option for investors who want to keep costs as low as possible. Active traders on the Pro platform will pay a minimum of $1 in commission, or 0.5¢ per share for every 200 shares they trade. Lite users, on the other hand, will not have to pay any commission on stocks or ETFs. You can also invest in more than 20,000 mutual funds without paying a transaction fee. This is the largest list of free mutual funds in the industry. You also won’t have to worry about annoying account or transfer fees. It looks like Interactive Brokers is a simple broker because its trading interface is very simple. But this “broker to the pros” has done everything it can to make things great for active traders. It’s not a surprise that advanced traders and people who care about small details, like quick trade execution, love it. There are discounts based on volume and a trading platform for professionals that draw in many of these active traders. Interactive Brokers is a great option for investors who want to keep costs as low as possible. Active traders on the Pro platform will pay a minimum of $1 in commission, or 0.5¢ per share for every 200 shares they trade. Lite users, on the other hand, will not have to pay any commission on stocks or ETFs. You can also invest in more than 20,000 mutual funds without paying a transaction fee. This is the largest list of free mutual funds in the industry. You also won’t have to worry about annoying account or transfer fees.
• Low-cost margin trading, tradable securities, active trading
• You can get a discount if you buy a lot of options. The prices are $0 for the “Lite” service and $1 for the “Pro” service. The prices go down as you buy more options. One option costs 65 cents.

• Merrill Edge’s best service is the research it gives clients, which comes from the company’s large team of in-house analysts. It comes with in-depth analyst reports for the companies it covers, as well as research from outside sources, ongoing market commentary, and other economic data. You should check out Merrill Edge if you already do business with Bank of America. One of the best things about the broker is that it works with Bank of America. This means that you can manage all of your finances from one dashboard, quickly move money from bank to broker, and, depending on your brokerage balance, get extra credit card rewards. And the best part is that it’s all free! Merrill Edge’s best feature is the research it gives clients, which comes from the broker’s large team of in-house analysts. It comes with in-depth analyst reports for the companies it covers, as well as research from outside sources, ongoing market commentary, and other economic data. You should check out Merrill Edge if you already do business with Bank of America. One of the best things about the broker is that it works with Bank of America. This means that you can manage all of your finances from one dashboard, quickly move money from bank to broker, and, depending on your brokerage balance, get extra credit card rewards. Plus, it all comes at a great price: free! .
• Study, Bank of America customers, and customer service Study, Bank of America customers, and customer service
• No fee to trade stocks or ETFs; 65¢ per options contract. No fee to trade stocks or ETFs; 65¢ per options contract.

• Webull is not as well known as its competitor Robinhood, but the trading app lets users trade stocks, ETFs, options, and cryptocurrencies without having to pay any fees. One thing that works in Webull’s favor is that you can call customer service at any time. Webull offers attractive charting as part of the mobile experience. You can read about other traders’ thoughts on each stock on its own page, which also has links to news and other third-party content. Your account will be credited right away, and you’ll be able to buy fractional shares. Even though the app is meant for new investors, we didn’t find any good educational materials in it. Webull is not as well known as its competitor Robinhood, but the trading app lets users trade stocks, ETFs, options, and cryptocurrencies without having to pay any fees. One thing that works in Webull’s favor is that you can call customer service at any time. Webull offers attractive charting as part of the mobile experience. You can read about other traders’ thoughts on each stock on its own page, which also has links to news and other third-party content. Your account will be credited right away, and you’ll be able to buy fractional shares. Even though the app is meant for new investors, we didn’t find any good educational materials in it.
• Forex, cryptocurrency, and mobile trading without fees. Forex, cryptocurrency, and mobile trading without fees.
• If you trade stocks or ETFs, you won’t be charged anything. If you trade options, you won’t be charged anything either.

We’ve examined the best brokers based on characteristics that matter to individual investors, including trading fees, account minimums, free research and many other features. We’ve evaluated each broker on their pros and cons, and here’s how they stack up on the most important aspects.

• Bankrate rates brokers based on several things, such as: Cost (account fees, commissions, etc.) Bankrate rates brokers based on a number of factors, such as: Cost (commissions, account fees, etc.) Investment options Research and education Customer service ) Account types Investment offerings Research and education Customer support .

The brokers below also scored highly on the criteria we use to evaluate and rate providers.

• Dont let the unconventional name fool you. Tastytrade is dedicated to making the marketplace a good place for traders. Traders of options should pay attention: Tastytrade only charges a commission on the buy side of an options trade, and the total commission on any options leg is capped at $10. This is a good price if you make a lot of trades. Along with stocks, ETFs, and futures, you’ll be able to trade cryptocurrency. It will not be possible to trade mutual funds. Dont let the unconventional name fool you. Tastytrade is dedicated to making the marketplace a good place for traders. Traders of options should pay attention: Tastytrade only charges a commission on the buy side of an options trade, and the total commission on any options leg is capped at $10. This is a good price if you make a lot of trades. Along with stocks, ETFs, and futures, you’ll be able to trade cryptocurrency. It will not be possible to trade mutual funds.

• Robinhood is a trading app for your phone that looks good and works well. You can use it to buy stocks, ETFs, options, and cryptocurrency with no extra fees. You can also buy fractional shares, and Robinhood Gold members can get a good rate of interest on their cash here. Robinhood also has IRAs (and will often match your contributions) and a new service that manages your portfolio automatically. Robinhood is a trading app for your phone that looks good and works well. You can use it to buy stocks, ETFs, options, and cryptocurrency with no extra fees. You can also buy fractional shares, and Robinhood Gold members can get a good rate of interest on their cash here. Robinhood also has IRAs (and will often match your contributions) and a new service that manages your portfolio automatically.

• Even though Moomoo is new to the brokerage world, it has been working hard to get customers by offering great deals. It lets you trade stocks and ETFs without any fees, but it takes things to the next level by also letting you trade options without any fees. Moomoo also has low margin rates, which makes it a good choice for traders who want this feature. Even though Moomoo is new to the brokerage world, it has been working hard to get customers by offering great deals. It lets you trade stocks and ETFs without any fees, but it takes things to the next level by also letting you trade options without any fees. Moomoo also has low margin rates, which makes it a good choice for traders who want this feature.

• SoFi Active Investing is great for new investors because it doesn’t charge any fees for stocks, ETFs, or options. SoFi’s fractional share plan lets customers buy only a portion of a stock and reinvest any dividends back into the plan. This helps your money work harder for you. If you already do business with the company in some other way, like through a loan or bank account, the brokerage account is a good extra. SoFi Active Investing is great for new investors because it doesn’t charge any fees for stocks, ETFs, or options. SoFi’s fractional share plan lets customers buy only a portion of a stock and reinvest any dividends back into the plan. This helps your money work harder for you. If you already do business with the company in some other way, like through a loan or bank account, the brokerage account is a good extra.

How To Choose The Best Brokerage Account For Beginners

FAQ

How do you know if a broker is good?

Use FINRA’s BrokerCheck and the SEC’s IAPD to verify a broker’s registration and background. Verify brokerage firm membership with the SIPC to ensure investor protection. Regularly check investment statements for discrepancies and unexpected changes.

How do I choose a good broker?

6 Factors to Consider When Choosing an Online BrokerRegulation. Regulation is the most important consideration for any beginner when choosing a broker. Trading Platform. Trading Conditions. Tools and Resources. Payment Methods. Customer Support.

How much does a good broker cost?

Brokerage fee: Usually costs $50 to $75 per year; inactivity fees may be charged monthly, quarterly, or annually, adding up to $50 to $200 or more per year; research and data subscriptions cost $1 to $30 per month; trading platform fees range from $50 to more than $200 per month.

Who is the best broker to use?

Best Online Brokerage Accounts and Trading PlatformsBest Overall: Fidelity. Best for Low Costs: Fidelity. Best for Beginners: Charles Schwab. Best for Advanced Traders: Interactive Brokers. Best for ETFs: Fidelity. Best for Options Trading: tastytrade. Best for International Trading: Interactive Brokers.