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Best Online Brokers of 2026

Most online brokers now charge $0 for stock trades, so we compared what still differs: options contract fees, minimums, fractional shares and each firm's regulatory record.

By BestGuide Editorial Team, Editorial Team. See their work.Updated October 16, 2026This page was compiled from primary sources: company disclosures and terms, the BBB and regulators. Our ratings method is described on the methodology page.
  • 7 companies compared, 2 removed
  • 23 sources cited
  • Prices checked October 2026
  • How we rate

Before you open a brokerage account, check whether TreasuryDirect (free, for Treasury securities) or your workplace 401(k) fits the goal, and look up any broker on the free FINRA BrokerCheck. For most investors, Fidelity is our top pick for $0 online trades, no minimum and fractional shares from $1; Public is cheapest for options with no per-contract fee; and Schwab pairs a similar brokerage with a no-advisory-fee robo option. Choose by the options fee if you trade options, and by fractional share coverage and account fees if you buy and hold.

Our top picks
  1. Self-directed investors who want stocks, options, bonds and crypto in one app, and options traders who will use the rebate program. Public.com BestGuide Score: 4.5 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.
    Read review
  2. Buy-and-hold investors who want low-cost, index-based management and are fine with a robo or an advisor team until they reach $500,000. Vanguard BestGuide Score: 4.5 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.
    Read review
  3. Investors who want a free or low-cost robo through Fidelity Go, or who already keep most of their money at Fidelity and value one firm for banking, brokerage and a dedicated advisor. Fidelity BestGuide Score: 4.4 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.
    Visit siteRead review
  4. Beginners who want commission-free US stocks and options with a social feed, a practice account and the option to copy other investors. eToro BestGuide Score: 4.4 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.
    Read review
  5. Self-directed investors and options traders who want low trading costs plus savings and checking from the same Morgan Stanley login. E*TRADE BestGuide Score: 4.3 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner.
    Read review

This guide is for people opening a self-directed brokerage account to buy stocks, ETFs or options. We compared Fidelity, Charles Schwab, Interactive Brokers, E*TRADE, Public, Vanguard, Merrill Edge and eToro.

All eight list $0 commissions on online US stock and ETF trades, so the differences are in options contract fees, fractional share coverage, account fees and how the firm shows up on FINRA BrokerCheck.

Below you will find free and public options to check first, each broker's published fees and weak spots, and what SIPC protection does and does not cover.

Stock and ETF commissions
$0 online at all eight brokers, as listed October 20261
Options contract fees
$0 (Public, eToro) to $1 (Vanguard) per contract11
Account minimums
$0 at most brokers in this guide3
SIPC limit
$500,000 per customer, including $250,000 cash19
Free option
TreasuryDirect: Treasuries from $100 with no fees22
On this page11 sections
  1. Our top picks
  2. Company reviews
  3. How we chose
  4. Free and public options to check first
  5. What online brokers cost
  6. How to choose an online broker
  7. What SIPC protection covers and what it does not
  8. Red flags when picking a broker
  9. Alternatives to a self-directed broker
  10. Frequently asked questions
  11. Sources

Company reviews

Self-directed investors who want stocks, options, bonds and crypto in one app, and options traders who will use the rebate program.: Public.com

4.5/5

Why we picked it. Public.com is a FINRA-registered broker for stocks, ETFs, options, bonds and crypto with $0 stock commissions and a 3.30% APY cash account. FINRA has fined it three times since 2023.

Pros and cons

Pros

  • $0 commissions on stocks, ETFs and stock options, with options rebates
  • 3.30% APY cash account with up to $5 million of FDIC coverage through partner banks
  • Stocks, options, bonds, Treasuries and crypto in one place
  • 1% IRA contribution match without a paid plan
  • SEC and FINRA registered, SIPC member

Cons

  • FINRA fines in 2023 and 2025, including a share lending program that auto-enrolled customers
  • Crypto fees up to 1.25% per trade, higher than many crypto exchanges
  • $100 fee to transfer your account out
  • Support is mostly chat and email; reviewers struggle to reach a person
  • Best rates and matches require the $20 a month Reserve tier
Read full review

Buy-and-hold investors who want low-cost, index-based management and are fine with a robo or an advisor team until they reach $500,000.: Vanguard

4.5/5

Why we picked it. Vanguard now sells four advice tiers: a $100 robo, a $50,000 hybrid at about 0.30% net, and a dedicated CFP from $500,000 for no more than 0.30%. In 2025 it paid the SEC $19.5 million over advisor pay disclosures.

Pros and cons

Pros

  • Low fees: about 0.15% to 0.16% net for the robo and no more than 0.30% for a dedicated CFP
  • $100 robo minimum and a 90-day fee waiver
  • Advisors act as fiduciaries under an SEC-registered adviser
  • Tax-loss harvesting included in the advisory fee
  • Index-based portfolios built with low-cost Vanguard funds

Cons

  • No dedicated advisor until $500,000
  • Phone support weekdays only, no branches
  • $19.5 million SEC penalty in 2025 over advisor incentive disclosures
  • Advice only covers accounts held at Vanguard; 401(k)s at other firms, 529s and UTMAs don't count toward minimums
  • Very poor Trustpilot score driven by service complaints
Read full review

Investors who want a free or low-cost robo through Fidelity Go, or who already keep most of their money at Fidelity and value one firm for banking, brokerage and a dedicated advisor.: Fidelity

4.4/5

Why we picked it. Fidelity Go is free under $25,000 and 0.35% above. A Fidelity advisor team costs 1.10% a year from $50,000, and a dedicated advisor up to 1.50%, less fund credits.

Pros and cons

Pros

  • Fidelity Go has no advisory fee under $25,000 and uses zero expense ratio funds
  • Advice programs reach from $10 to $10 million, with 215 Investor Centers for in-person meetings
  • Gross advisory fees are reduced by a credit for fund revenue Fidelity keeps
  • Advisory arm reports no material disciplinary events in its current brochure
  • Fee is prorated if you leave mid-quarter

Cons

  • Fidelity Advisory Services charges 1.10% gross, more than triple Fidelity Go's 0.35%
  • A dedicated advisor costs about 1.25% at $500,000, far above Vanguard's 0.30% and Schwab's 0.80%
  • Representatives earn more when you move into Wealth Services, a conflict Fidelity discloses
  • Some program funds can only be held in the program and are sold if you leave, which can trigger taxes
  • Very low review site scores for service across all of Fidelity, and a customer data breach that led to a 2026 Massachusetts fine
Visit siteRead full review
Show all 5 picks2 more, ranked 4 to 5

Beginners who want commission-free US stocks and options with a social feed, a practice account and the option to copy other investors.: eToro

4.4/5

Why we picked it. eToro is a Nasdaq-listed trading app known for CopyTrader. Its US site now lists 100+ cryptoassets again, up from three after its 2024 SEC settlement, and charges 1% each way on crypto.

Pros and cons

Pros

  • $0 commission on US stocks, ETFs and options with no per-contract fee
  • CopyTrader and a $100,000 practice portfolio
  • Public company with SIPC-covered US brokerage accounts
  • 100+ cryptoassets for most US users
  • No withdrawal fee

Cons

  • 1% fee on every crypto buy and sell
  • Crypto transfers out cost up to 2%
  • CopyTrader not available in every state
  • Crypto not offered in NV, HI, Puerto Rico or the US Virgin Islands
  • 2024 SEC settlement and a B- BBB rating
Read full review

Self-directed investors and options traders who want low trading costs plus savings and checking from the same Morgan Stanley login.: E*TRADE

4.3/5

Why we picked it. E*TRADE is now E*TRADE from Morgan Stanley. Max-Rate Checking has no monthly fee but pays 2.00% APY only from $10,000, and basic Checking is open only to businesses.

Pros and cons

Pros

  • $0 online commissions on US-listed stocks, ETFs and options, with a lower $0.50 contract fee for active options traders
  • Bank and brokerage under one login, with instant transfers between them
  • Premium Savings promo of 4.25% APY for 6 months, and up to $500,000 FDIC coverage ($1,000,000 joint) through program banks
  • Max-Rate Checking has no monthly fee and refunds ATM fees worldwide
  • 24/7 customer service by phone

Cons

  • D- BBB rating on the main profile, tied to a pattern of unanswered complaints
  • Margin rates start at 12.70% on small balances
  • Max-Rate Checking pays only 0.05% APY under $10,000
  • The Premium Savings boost lasts 6 months and is closed to existing savings customers
  • OTC stock trades cost $6.95 ($4.95 for active traders), and broker-assisted trades add $25
Read full review
Companies we removed from this list
  • Robinhood: We do not have a Robinhood review yet and used our two non-reviewed slots elsewhere; its fee schedule lists $0 stock and ETF option contract fees and $0.50 on index options for non-Gold members.
  • SoFi Invest: Our SoFi review covers its banking products, not its brokerage, so we left it out until we review SoFi Invest's fees directly.

How we chose

We compared online brokers on options contract fees, online stock and ETF commissions, account minimums and yearly fees, fractional share coverage, phone trade charges and regulatory standing. Fees came from each broker's official pricing page or fee schedule, checked October 12, 2026, and each firm's FINRA CRD number came from BrokerCheck. SIPC rules came from SIPC.org and Treasury rules from TreasuryDirect. We ranked brokers by fit for most investors: no minimum and broad fractional shares first, then options cost, then account fees and extra charges. Fidelity leads for $0 minimums, $1 fractional shares across US stocks and ETFs and few account fees; Schwab is close behind and adds a no-fee robo option; Interactive Brokers has the widest fractional list but a more complex platform; E*TRADE rewards active options traders; Public has the lowest options cost but a $5 fractional minimum; Vanguard fits Vanguard fund investors but charges $1 per contract and a waivable $25 fee; Merrill Edge suits Bank of America customers but lists no dollar-based buying; and eToro is last for its 1% crypto fee and narrower tools. We did not count BrokerCheck disclosures, since large firms report many events and counts are not comparable across firm sizes; read each firm's report yourself. Read our full methodology.

Free and public options to check first

You do not need a brokerage account to buy U.S. Treasury securities. TreasuryDirect, run by the U.S. Treasury, sells Treasury bills, notes, bonds, TIPS and floating rate notes for a $100 minimum, and savings bonds from $25. There are no fees to open an account or buy securities there.

Before you open any account, look up the firm on FINRA BrokerCheck. It is free and shows a firm’s registrations, disciplinary events, customer disputes and arbitration awards. Every broker in this guide is a FINRA member and a SIPC member; the CRD number for each is listed in its pick card so you can search the exact legal entity.

If your employer offers a 401(k) with a match, that account usually comes before a taxable brokerage account for retirement savings.

What online brokers cost

Every broker in this guide charges $0 for online US stock and ETF trades, as listed October 2026. The real price differences are elsewhere:

  • Options contract fees: $0 at Public and eToro (stock and ETF options), $0.65 at Fidelity, Schwab, Merrill Edge, E*TRADE and Interactive Brokers, $0.50 at E*TRADE with 30 or more trades a quarter, and $1 at Vanguard.
  • Phone trades: $25 at Schwab, E*TRADE and Vanguard, and $29.95 at Merrill Edge.
  • Account fees: Vanguard charges $25 a year unless you qualify for a waiver such as e-delivery; Merrill Edge charges $49.95 to close a retirement account.
  • Crypto: 1% each way at eToro and 0.50% at E*TRADE through its crypto partner.

Regulatory fees (the SEC fee and FINRA trading activity fee on sales, and the options regulatory fee) are passed through at every broker.

How to choose an online broker

  1. Start with what you will trade. Long-term ETF investors care about fractional shares and account fees. Options traders should compare the per-contract fee first.
  2. Check fractional share coverage. Fidelity, Schwab and Interactive Brokers sell fractions of most US stocks and ETFs from $1. Vanguard limits dollar-based buying to its own funds, and E*TRADE and Public set a $5 order minimum.
  3. Look at minimums and yearly fees. Most brokers here have no minimum, but Vanguard’s $25 annual fee applies unless waived.
  4. Confirm the account types you need. IRAs, custodial and joint accounts are not offered the same way everywhere.
  5. Search the firm on BrokerCheck. Use the CRD numbers in this guide to find the correct legal entity.

What SIPC protection covers and what it does not

SIPC steps in when a member brokerage firm fails and customer cash or securities are missing. Protection is limited to $500,000 per customer, including a $250,000 limit for cash.

SIPC does not protect you against a drop in the value of your investments, against bad investment advice, or against being sold worthless securities. It also does not cover digital asset investment contracts that are not registered with the SEC, and crypto held through a separate crypto partner is generally outside SIPC.

Red flags when picking a broker

  • A firm or app you cannot find on FINRA BrokerCheck.
  • A “$0 commission” claim that hides per-contract options fees or high crypto fees.
  • Fractional shares you cannot transfer to another broker; at Public, for example, fractional shares are not transferable.
  • Pressure to trade on margin before you understand margin calls and forced liquidation fees.
  • Bonus offers that require a large deposit and a minimum holding period; read the terms before you move money.

Alternatives to a self-directed broker

If you would rather not pick investments, a robo advisor builds and rebalances a portfolio for a yearly fee, and some charge nothing below a set balance. See our best robo advisors guide for fees, minimums and tax-loss harvesting.

For one-time help with a plan, a fee-only financial advisor can review your accounts without managing them.

Terms to know

Commission
A fee a broker charges to place a trade.
Options contract fee
A per-contract charge on options trades, usually listed separately from the commission.
Fractional share
Part of one share, bought with a dollar amount instead of a share count.
SIPC
The Securities Investor Protection Corporation, which restores missing customer cash and securities up to $500,000 when a member firm fails.
FINRA BrokerCheck
A free FINRA tool that shows a broker or firm's registrations and disciplinary history.
CRD number
The ID a firm or broker has in FINRA's Central Registration Depository, used to search BrokerCheck.
Broker-assisted trade
A trade placed by phone with a representative, which usually costs more than an online trade.

Frequently asked questions

What is the best online broker?

For most investors, Fidelity is a strong start: $0 online stock and ETF trades, no account minimum and fractional shares of US stocks and ETFs from $1. Public is cheaper for options, with no per-contract fee on stock and ETF options. Check any broker on FINRA BrokerCheck before you open an account.

Which brokers have no commission on stock trades?

Every broker in this guide lists $0 commissions on online US stock and ETF trades, as of October 2026. Interactive Brokers charges $0 only on its IBKR Lite plan; IBKR Pro charges per share.

Which broker is cheapest for options?

Public and eToro charge no per-contract fee on stock and ETF options for US customers. E*TRADE charges $0.65, dropping to $0.50 with 30 or more trades a quarter. Fidelity, Schwab and Merrill Edge charge $0.65, and Vanguard charges $1.

Can I buy fractional shares?

Yes, at most brokers here. Fidelity, Schwab and Interactive Brokers sell fractions of most US stocks and ETFs from $1. E*TRADE and Public set a $5 order minimum, and Vanguard limits dollar-based buying to its own ETFs and mutual funds.

Is my money safe at an online broker?

SIPC protects up to $500,000 per customer, including $250,000 in cash, if a member brokerage firm fails and assets are missing. It does not protect against market losses. All brokers in this guide are SIPC members.

How do I check if a broker is legitimate?

Search the firm on FINRA BrokerCheck, which is free. It shows registrations, disciplinary events, customer disputes and arbitration awards. Match the exact legal name, such as Morgan Stanley Smith Barney LLC for E*TRADE accounts.

Do I need money to open a brokerage account?

Usually not. Fidelity, Schwab, Interactive Brokers and Merrill Edge list no account minimum. Vanguard lists no minimum but charges a $25 annual fee unless you qualify for a waiver.

Can I buy Treasury bonds without a broker?

Yes. TreasuryDirect sells Treasury bills, notes, bonds, TIPS and floating rate notes for a $100 minimum, with no fees to open an account or buy securities.

What is the difference between an online broker and a robo advisor?

With an online broker you choose and place your own trades. A robo advisor picks a portfolio for you and rebalances it for an advisory fee, though some charge no fee below a set balance.

Sources (23)

Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards

  1. Fidelity: Commissions, margin rates and fees (accessed October 12, 2026)
  2. Fidelity: Fractional shares (accessed October 12, 2026)
  3. Charles Schwab: Pricing (accessed October 12, 2026)
  4. Charles Schwab: Fractional shares (accessed October 12, 2026)
  5. Vanguard: Brokerage services commission and fee schedules (accessed October 12, 2026)
  6. Vanguard: What is dollar-based investing? (accessed October 12, 2026)
  7. E*TRADE from Morgan Stanley: Pricing and rates (accessed October 12, 2026)
  8. E*TRADE from Morgan Stanley: Fractional shares (accessed October 12, 2026)
  9. Merrill Edge: Pricing (accessed October 12, 2026)
  10. Merrill Edge: Self-Directed Investing Terms of Service (PDF) (accessed October 12, 2026)
  11. Public: Fee schedule (PDF) (accessed October 12, 2026)
  12. Public: Options trading and rebates (accessed October 12, 2026)
  13. Public Help Center: What is the minimum amount to invest in stock? (accessed October 12, 2026)
  14. eToro US: Fees and charges (accessed October 12, 2026)
  15. Interactive Brokers: Stock commissions (accessed October 12, 2026)
  16. Interactive Brokers: Options commissions (accessed October 12, 2026)
  17. Interactive Brokers: Account minimums and fees (accessed October 12, 2026)
  18. Interactive Brokers: Fractional shares (accessed October 12, 2026)
  19. SIPC: What SIPC protects (accessed October 12, 2026)
  20. FINRA: About BrokerCheck (accessed October 12, 2026)
  21. FINRA BrokerCheck: Firm search (CRD records for each broker in this guide) (accessed October 12, 2026)
  22. TreasuryDirect: FAQs about Treasury marketable securities (accessed October 12, 2026)
  23. Public: Stocks (fractional shares disclosure) (accessed October 12, 2026)
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