We’ve compiled a list of the best brokerage accounts for index investing, highlighting their features, fees and the unique benefits they offer to help you make an informed decision and maximize your investment potential.
Choosing the right brokerage account can significantly enhance your investment experience and returns.
So here are our picks for the best brokerage accounts for index funds.
The following are our top picks of the best brokerage accounts for index funds, each highlighted for certain unique strengths.
While we’ve categorized each broker based on a specific standout feature, many excel in multiple areas. For example, while Charles Schwab is noted as one of the best for teens, it also serves as an excellent option for beginners due to its user-friendly platform and comprehensive educational resources.
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9.2 Excellent
Robinhood simplifies investing with its innovative, beginner-friendly mobile app featuring an intuitive design and agile interface.
Trade commission-free index funds with as little as $1, enjoy 24/5 market access and benefit from an IRA that pays up to 3% in matching contributions. Additionally, earn 4% APY on your uninvested cash with Robinhood Gold.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get a free stock |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get a free stock |
9 Excellent
Public emphasizes transparency and stands out as one of the few brokers in the industry that doesn't use payment for order flow (PFOF).
Trade commission-free index ETFs with as little as $5 on Public's intuitive and user-friendly platform and earn 4.1% APY on your uninvested cash.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to $10,000 and transfer fees covered |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to $10,000 and transfer fees covered |
8.2 Great
Trade commission-free index ETFs with as little as $1, automate your investing and rebalance your portfolio with a single click.
Choose from M1's expertly crafted model portfolios or build custom pies of index ETFs tailored to your preferences.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $100 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $100 |
| Signup bonus | N/A |
8.6 Great
SoFi Invest offers one of the most user-friendly trading experiences among the brokers we review, providing easy market access with a robo-advisor option for automated investing.
Trade no-fee commission SoFi exchange-traded funds (ETFs) and third-party index funds with as little as $5. Additionally, SoFi provides access to credentialed financial planners, a valuable service that often costs hundreds of dollars per session. SoFi Plus members enjoy as many appointments with financial planners as they like during their eligibility period, while non-SoFi Plus members are limited to one appointment.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | For a limited time, get up to $2,000 in stock |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | For a limited time, get up to $2,000 in stock |
7.4 Great
Cash App's commission-free trades, ease of use and fractional share trading make it an excellent choice for beginners investing in index funds.
Start investing with as little as $1, and seamlessly send and receive shares with just a few taps.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
8.8 Great
Moomoo offers advanced, customizable charting and free access to professional-grade tools, such as Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.
Track market capital flow to optimize transaction timing, view position cost distribution and other technical indicators and use Moomoo's Sentiment Indicator for a quick overview of the overall status of all technical indicators.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to 30 free stocks |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to 30 free stocks |
8.2 Great
eToro offers a user-friendly mobile app featuring advanced charts and a community of over 35 million social investors.
Trade commission-free index ETFs with as little as $10.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
9.2 Excellent
Webull offers a user-friendly trading platform featuring advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information.
Trade commission-free index ETFs with as little as $5, or automate your index investing with Webull's robo-advisor, Smart Advisor.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Earn up to 40 fractional shares and an extra 2% APY for 30 days |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Earn up to 40 fractional shares and an extra 2% APY for 30 days |
9.2 Excellent
Interactive Brokers offers a variety of commission-free index ETFs and mutual funds, along with several feature-rich trading platforms and UGMA/UTMA accounts for minors.
Trade fractional shares of index funds with as little as $1, or choose an automated portfolio of actively managed funds with Interactive Advisors.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
8.8 Great
Minors and parents with children looking to start investing will find E*TRADE an excellent choice. As a pioneer of online trading, E*TRADE offers a diverse lineup of account types, including custodial brokerage accounts, IRAs for minors and Coverdell Education Savings Accounts.
Trade commission-free index ETFs and mutual funds, with 24/5 trading on select ETFs. Additionally, E*TRADE's robo-advisor, Core Portfolios, provides a straightforward, automated portfolio management option.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to $1,000 terms apply |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to $1,000 terms apply |
8.8 Great
Schwab provides access to over 3,000 index mutual funds and ETFs, along with trading in 33 of its proprietary index mutual funds and ETFs that span US equity, international equity and US fixed-income markets. All index ETFs are commission-free.
Additionally, benefit from a robo-advisor, personalized financial advisory services and the renowned thinkorswim trading platform.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get a $101 bonus |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get a $101 bonus |
9.2 Excellent
Trade 28 Fidelity index mutual funds, including equity, fixed income and hybrid options, along with 13 Fidelity Freedom Index Funds and 21 Fidelity index ETFs. Additionally, access over 370 third-party index mutual funds and more than 1,840 third-party index ETFs.
Invest with as little as $1, or automate your investments with Fidelity's robo-advisor.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
8.2 Great
Trade a wide variety of commission-free Vanguard index mutual funds and ETFs, including options in stock, bond, balanced, international, ESG and target-date funds.
Trade index ETFs with as little as $1, and access both Vanguard's human and automated advisory services.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $50,000 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $50,000 |
| Signup bonus | N/A |
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Finder’s investments experts reviewed 18 brokers to identify the best brokerage accounts for investing in index funds.
Our analysis is based on 147 key metrics collected directly from brokers, evaluating each platform across eight categories, including investment options, trading costs, account types and more.
Since most brokers offer access to index funds, we highlight the unique characteristics that make these brokers stand out for index fund investing.
We regularly update our best picks as products evolve, ensuring our recommendations reflect the most competitive options available in the market.
Complete the account opening process online in minutes with most investing platforms available today.
Choose an investing platform and complete a brief application by providing personal information such as your name, address, date of birth and Social Security number.
Completed applications are typically approved instantly, though the broker may take a couple of days to verify your information.
Then, connect a bank account to fund your account.
Finder’s picks for the best brokerage accounts provide a starting point for finding the right broker for your investing style and goals.
Consider the following factors when comparing your options:
| If you're a | And want to | Consider this |
|---|---|---|
| Beginner investor | Do most or all of your trading on your mobile device | Best stock trading apps |
| Beginner investor | Trade and invest with as few fees as possible | Best discount stock brokers |
| Beginner investor | Outsource portfolio management automatically and at a low cost | Best robo-advisors |
| Beginner investor | Gain exposure to multiple assets like stocks, bonds or gold through a single fund | Best ETF brokers |
| Experienced investor | Get an overall idea of providers on the market and what they're best for | Best brokerage accounts |
| Experienced investor | Invest internationally in stocks, ETFs and other assets | Best international stock brokers |
| Retirement saver of any experience level | Save for retirement with upfront tax benefits | Best (traditional) IRA |
| Retirement saver of any experience level | Save for retirement and enjoy tax-free withdrawals | Best Roth IRA |
| Investor of any experience level | Diversify with low-cost index funds | Best brokerage accounts for index funds 2024 |
Check out Finder's picks for the best brokerage accounts
Compare top brokerage accounts and apps to help you maximize your investment.
Invest in index funds through various account types, including taxable brokerage accounts, IRAs and workplace retirement plans such as 401(k)s. The specific index funds available for trading depend on each broker’s offerings.
Investing in index funds has some downsides, including limited flexibility, as they passively track a market index and cannot capitalize on market opportunities. They also offer no protection against market downturns since they reflect the overall market performance. Additionally, index funds may include underperforming stocks.
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