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Find the cheapest stock brokerage accounts

Compare your options to discover the lowest-cost discount stock brokers in the US.

Commission-free online trades are an ordinary feature among today’s discount stock brokers. But not all brokers are cut from the same cloth. Features differ and there are other miscellaneous costs and fees to consider.

So we put together a list of some of the cheapest brokerage accounts on the market based on trading fees and other typical costs. Ranked in no particular order — because overall costs will depend on the specific features you use and how you invest — here are six of the cheapest stock brokers in the US.

  1. Robinhood
  2. Webull
  3. Charles Schwab
  4. eToro
  5. Fidelity Brokerage Account
  6. SoFi Invest

6 of the cheapest discount stock brokers

Robinhood

Pioneer of commission-free trading, no list of the cheapest brokerage accounts would be complete without Robinhood. Robinhood boasts some of the lowest fees in the industry, with no commission on stocks, ETFs, options or crypto. Miscellaneous costs are minimal and margin rates are competitive, but transferring your account from Robinhood will cost a hefty $100.

Trade fees$0 for stocks, ETFs, options and crypto
Inactivity fees$0
Account maintenance fees$0
Reorganization fee$0
Regulatory transaction fee$.0000229 per $1 on sales with a notional value of $501 or more
FINRA trading fee$0.000130 per share for equity sells and $0.00218 per contract for options sells but no greater than $6.49
Account transfer out$100
Wire transfer$0
Margin interest rate6.5%
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Webull

Webull ranks among the best in terms of cost. With no commission on stocks, ETFs, options and crypto, no option per-contract fee and no stock split fees, Webull is more like a no-cost broker than a discount stock broker.

Trade fees$0 for stocks, ETFs, options and crypto; 100 basis point markup built into each crypto trade
Inactivity fees$0
Account maintenance fees$0
Reorganization fee$0
Regulatory transaction fee$0.0000229 per $1 on sells of equities and options
FINRA trading fee$0.000130 per $1 on sells of equities and $0.00218 per $1 on sells of options
Account transfer out$75
Wire transfer$8 per deposit, $25 per withdrawal
Margin interest rateAs low as 6.99%
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Charles Schwab

One of the largest brokerage firms in the US, Charles Schwab still offers investors a low-cost investing experience. It cut its commissions in 2019 and has kept the cost of investing low with no account fees, no reorganization fee and an account transfer fee that comes in below the competition.

Trade fees$0 for stocks, ETFs and options; $0.65 per option contract fee
Inactivity fees$0
Account maintenance fees$0
Reorganization fee$0
Regulatory transaction feeDoesn't specify
FINRA trading feeDoesn't specify
Account transfer out$25 partial, $50 full
Wire transfer$15 per online withdrawal
Margin interest rate8.75%

More info

eToro

Leading social investing platform eTorooffers a unique investing experience at a low cost. Even though they’re typically a fraction of a penny, eToro covers the cost of SEC and FINRA fees while providing a no-commission investing experience for stocks and ETFs.

Trade fees$0 for stocks and ETFs; 1% to buy or sell crypto
Inactivity fees$10 monthly fee if your account is inactive for over one year
Account maintenance fees$0
Reorganization fee$0
Regulatory transaction fee$0
FINRA trading fee$0
Account transfer out$75
Wire transfer$8 incoming, $25 outgoing
Margin interest rateN/A
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More info

Fidelity Brokerage Account

Another heavyweight brokerage firm and one of the biggest names in the 401(k) space, Fidelity Brokerage Account charges no commission on online stock and ETF trades and virtually no miscellaneous costs and fees. If you’re looking for a reliable investing experience with minimal costs, Fidelity is hard to beat.

Trade fees$0 for stocks, ETFs and options; $0.65 per option contract fee
Inactivity fees$0
Account maintenance fees$0
Reorganization fee$0
Regulatory transaction fee$0 for stocks, $0.03 to $0.05 per contract per option trade
FINRA trading fee$0
Account transfer out$0
Wire transfer$0
Margin interest rateAs low as 5.5%

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SoFi Invest

SoFi Invest is another brokerage firm that stands out for its lack of fees. No commission stocks and ETFs, yes — but also no-fee automated investing. That’s almost unheard of. It’s got no hidden account fees and the lowest margin interest rate on this list.

Trade fees$0 for stocks and ETFs; up to 1.25% on crypto trades
Inactivity fees$0
Account maintenance fees$0
Reorganization fee$0
Regulatory transaction fee$22.10 per $1,000,000 of the price of the transaction (sells only), rounded up to the nearest penny
FINRA trading fee$0.000119 per share for each equity sell rounded up to the nearest penny with a maximum of $5.95 per trade
Account transfer out$75
Wire transfer$25
Margin interest rate5.25%
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How do I compare cheap stockbrokers?

Fees are only one component you should consider when comparing stock trading accounts. Features, tools, customer support and ratings — like fees — will differ from platform to platform.

Start with what’s important to you in a brokerage account. And this is something you may not figure out until you’ve tried a few different platforms. While striking a balance between costs and function may be necessary, you don’t need to settle for high costs and fees for an enjoyable investing experience.

Here are some considerations when comparing cheap stockbrokers:

  • Fees. Are the fees reasonable and competitive? Are the fees for a feature you don’t plan to use? For instance, a particular broker may charge the highest margin interest rates in the industry. If you have no interest in trading on margin, this won’t matter.
  • Trading platform. Do you require a trading platform with advanced charting capabilities or does a simple buy and sell function suffice?
  • Customer support. Quality customer support is always important, and the more options for contacting them, the better. Some prefer to call, while others prefer the convenience of a live chat. You shouldn’t have to jump through hoops to get help, especially when your money is on the line.
  • Investment options. Stock trading might be enough if you’re only dipping your toes into the markets, but what if you want to expand your portfolio to include ETFs, mutual funds or crypto?
  • Account types. Does the broker offer more than individual brokerage accounts? Do they offer retirement accounts or an automated investing feature?
  • Usability. How complicated is it to make a trade? Is the platform intuitive and beginner-friendly?
  • Research tools and market data. Does the broker offer adequate asset and market data so you can research your investment to your comfort level before investing?

Compare online trading platforms

1 - 7 of 7
Name Product Asset types Stock trade fee Minimum deposit Signup bonus
SoFi Invest
Stocks, ETFs, Cryptocurrency
$0
$0
$10 - $100
when you open an account and place a first crypto trade of $50 - $5,000+
A free way to invest in most equities.
eToro
Stocks, ETFs, Cryptocurrency
$0
$10
8%-12% of your deposit
when you sign up and deposit at least $50. T&Cs apply.
Trade stocks in the app or online with $0 commissions. Not available in NY, NV, MN, TN, and HI.
Public
Stocks, ETFs, Cryptocurrency
$0
$0
Receive a free stock slice worth between $3–$300
when you sign up for an account and deposit at least $20.
Commission-free trading in stocks and ETFs with a social networking twist.
Tastyworks
Stocks, Options, ETFs, Cryptocurrency
$0
$0
$200 in US stocks
when you open and fund an account with min. $2,000 for 3+ mos.
Trade stocks, options, ETFs and futures on mobile or desktop with this advanced platform.
JPMorgan Self-Directed Investing
Stocks, Bonds, Options, Mutual funds, ETFs
$0
$0
$125 - $625
when you open and fund an account with $25,000 - $250,000+
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Robinhood
Stocks, Options, ETFs, Cryptocurrency
$0
$0
Get a free stock
when you successfully sign up and link your bank account.
Make unlimited commission-free trades, plus earn 3% interest on uninvested cash in your account with Robinhood Gold.
Tradier
Stocks, Options, ETFs
$0
$0
N/A
Customize your trade platform or build your own Deep tools, charts and screens Analyzers to help you study before you trade
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Compare up to 4 providers

*Signup bonus information updated weekly.

What fees should you look for?

Most discount stock brokers no longer charge commission for US-listed online stock and trades of exchange-traded funds (ETFs), but some charge fees for cryptocurrency and options trades. Investors should also be aware of some miscellaneous fees. These include:

  • Inactivity fees. Although rare, some brokers charge a fee if your account remains unused for a specific time.
  • Custody fees. This fee may be charged when you trade American depository receipts (ADRs), which are securities listed on US exchanges that represent ownership of shares in foreign companies. This is typically a pass-through fee charged by the bank that issues the ADR. The average fee is one to three cents per share and may be charged quarterly or annually.
  • Account maintenance fees. Another rare fee for brokerage accounts, some brokers assess this fee for your account management and upkeep, which can include issuing statements and providing research tools. For instance, Vanguard charges a $20 annual fee for its brokerage accounts, but it will waive it if customers simply sign up for online statements.
  • Reorganization fee. You might see this fee as either a mandatory reorganization fee or a voluntary reorganization fee. Brokers may charge a mandatory reorganization fee whenever there is a reverse stock split or mandatory cash merger. They may charge a voluntary reorganization fee if you accept a tender offer for your shares.
  • Regulatory transaction fee. A fee the Financial Industry Regulatory Authority (FINRA) charges to recover the quarterly fee it pays to the US Securities and Exchange Commission (SEC). This fee is passed to brokers, who in turn pass it to customers. The SEC sets the regulatory transaction fee for 2022 at $22.90 per $1 million, or $0.0000229 per $1. For most retail investors, this translates to typically no more than a fraction of a penny.
  • Trading activity fee. A fee charged by FINRA to fund its regulatory responsibilities, such as performing examinations, financial monitoring and its policy, rulemaking and enforcement activities. This is another pass-through fee and, like the regulatory transaction fee, typically costs a fraction of a penny.
  • Account transfer fees. Many brokers use what’s called automated customer account transfer service (ACATs), which allows customers to switch accounts and avoid any tax consequences of selling investments. Many brokers charge between $75 and $100 for outgoing account transfers. Some brokers will cover the outgoing broker’s fee for new customers who transfer their accounts.
  • Wire transfer fees. A fee charged for an immediate transfer of funds from your brokerage account. Transfers are typically completed in one business day but are subject to a fee for the speediness of the transaction. This fee typically ranges from $0 to $50 per transfer.
  • Margin interest rate. The interest rate a broker charges for lending money for margin trading. Many brokers use a tiered rate schedule based on the amount of the margin loan.
Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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