Investing in the S&P 500 is a popular choice for those seeking to build a diversified and resilient portfolio.
However, selecting the right broker is crucial to maximizing your returns and ensuring a seamless trading experience.
To help you make an informed decision, we evaluated 18 brokers on factors like fees, platform usability, investment options, research tools and customer support.
Here are our top picks for the best S&P 500 brokers.
15+ online brokers reviewed and rated by our team of experts
Evaluated under our unbiased rating system covering eight categories
20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
SoFi Invest®
4.2
★★★★★
Finder score
For full promotion terms please visit: https://www.sofi.com/acatoffer. SoFi does not accept cryptocurrencies and has limitations on some mutual funds and OTC stocks. Brokerage and Active Investing Products offered by SoFi Securities, LLC, Member FINRA/SIPC.
Trade commission-free stocks, options, ETFs and mutual funds, including the SoFi Select 500 ETF. With SoFi, invest in stocks and ETFs with as little as $5 and select S&P 500 mutual funds for just $1. Trade options without per-contract fees.
Additionally, SoFi offers a no-advisory-fee robo-advisor, a 1% IRA match on contributions and unlimited, complimentary access to financial planners, making it a comprehensive choice for new investors.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $10,000 cash
Trade commission-free stocks, options, ETFs and mutual funds, including the SoFi Select 500 ETF. With SoFi, invest in stocks and ETFs with as little as $5 and select S&P 500 mutual funds for just $1. Trade options without per-contract fees.
Additionally, SoFi offers a no-advisory-fee robo-advisor, a 1% IRA match on contributions and unlimited, complimentary access to financial planners, making it a comprehensive choice for new investors.
Pros
Commission-free stocks, options, ETFs and mutual funds
Trade commission-free stocks, options and ETFs, with no per-contract fees for options. Enjoy 24/5 market access and benefit from an IRA offering up to 3% in matching contributions.
Additionally, trade stocks and ETFs with as little as $1, and earn 5% APY on your uninvested cash with Robinhood Gold.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get a free stock
Trade commission-free stocks, options and ETFs, with no per-contract fees for options. Enjoy 24/5 market access and benefit from an IRA offering up to 3% in matching contributions.
Additionally, trade stocks and ETFs with as little as $1, and earn 5% APY on your uninvested cash with Robinhood Gold.
Pros
Commission-free stocks, ETFs and options
No per-contract fees on options
24/5 market
Earn 3% in IRA matching contributions with Robinhood Gold
Earn 5% APY on uninvested cash with Robinhood Gold
Cons
No robo-advisor
No mutual funds
Limited advanced tools unless you upgrade to Robinhood Gold
eToro's suite of trading tools features TipRanks-powered analyst ratings and price targets, hedge fund activity, insider transactions and advanced charts. Trade commission-free stocks, options and ETFs, with no per-contract fees on options.
Additionally, leverage eToro's community of social traders to discuss investments, share insights and discover new trade ideas.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
FINDER EXCLUSIVE: Get a guaranteed $15 bonus
eToro's suite of trading tools features TipRanks-powered analyst ratings and price targets, hedge fund activity, insider transactions and advanced charts. Trade commission-free stocks, options and ETFs, with no per-contract fees on options.
Additionally, leverage eToro's community of social traders to discuss investments, share insights and discover new trade ideas.
Pros
Commission-free stocks, ETFs and options
No per-contract fees on options
Interact with over 25 million social traders
Earn 4.9% interest on your options account balance
Trade commission-free stocks and ETFs with as little as $5, all without the use of payment for order flow (PFOF).
Additionally, Public offers commission-free options with rebates and no per-contract fees, along with a cash account that pays 5.1% APY on your uninvested cash.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $10,000 and transfer fees covered
Trade commission-free stocks and ETFs with as little as $5, all without the use of payment for order flow (PFOF).
Additionally, Public offers commission-free options with rebates and no per-contract fees, along with a cash account that pays 5.1% APY on your uninvested cash.
Pros
Commission-free stocks, options and ETFs
No per-contract fees on options
Earn a rebate on options
Earn 5.1% APY on your uninvested cash
Cons
No index mutual funds
No IRAs
Advanced data and analysis requires a Public Premium subscription
Trade commission-free stocks, options, ETFs and mutual funds across a variety of account types with E*TRADE. Utilize advanced trading tools on the Power E*TRADE platform and access extensive research from reputable sources like Morningstar, Thomas Reuters and Credit Suisse. Additionally, trade select ETFs 24/5.
For those seeking a more hands-off approach, E*TRADE's robo-advisor, Core Portfolios, provides straightforward, automated portfolio management.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $1,000 terms apply
Trade commission-free stocks, options, ETFs and mutual funds across a variety of account types with E*TRADE. Utilize advanced trading tools on the Power E*TRADE platform and access extensive research from reputable sources like Morningstar, Thomas Reuters and Credit Suisse. Additionally, trade select ETFs 24/5.
For those seeking a more hands-off approach, E*TRADE's robo-advisor, Core Portfolios, provides straightforward, automated portfolio management.
Pros
Commission-free stocks, options, ETFs and mutual funds
Interactive Brokers offers a variety of trading platforms tailored to investors of all experience levels, from the advanced Trader Workstation and IBKR desktop to the beginner-friendly IBKR GlobalTrader app.
Trade commission-free stocks, ETFs and mutual funds across several account types, including IRAs and UGMA/UTMA accounts.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Interactive Brokers offers a variety of trading platforms tailored to investors of all experience levels, from the advanced Trader Workstation and IBKR desktop to the beginner-friendly IBKR GlobalTrader app.
Trade commission-free stocks, ETFs and mutual funds across several account types, including IRAs and UGMA/UTMA accounts.
Pros
Commission-free stocks, ETFs and mutual funds
Futures trading
Wide variety of account types
Several trading platforms for different experience levels
Earn up to 75 fractional shares and an extra 2% APY for 30 days when you open an account and make an initial deposit of the qualified amount. T&C apply.
Trade commission-free stocks, options and ETFs with as little as $5, or automate your portfolio with Webull's robo-advisor.
Leverage advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information for informed trading decisions.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Earn up to 75 fractional shares and an extra 2% APY for 30 days
Trade commission-free stocks, options and ETFs with as little as $5, or automate your portfolio with Webull's robo-advisor.
Leverage advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information for informed trading decisions.
Pros
Commission-free stocks, options and ETFs
No options per-contract fees
Futures trading
Index options
Robo-advisor
Advanced trading tools and features
Earn 5% APY on your uninvested cash
Cons
No mutual funds
$2.99 per month for Level 2 data access
Available asset types
Stocks, Options, ETFs, Cryptocurrency
Account types
Brokerage, IRA
Annual fee
$0 per month
Minimum deposit
$0
Signup bonus
Earn up to 75 fractional shares and an extra 2% APY for 30 days
Cash sweep APY
5%
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Earn up to 75 fractional shares and an extra 2% APY for 30 days
Moomoo offers advanced, customizable charting and free access to professional-grade tools, including Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.
Trade commission-free stocks, options and ETFs, with no per-contract fees on options, and earn 5.1% APY on your uninvested cash.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to 15 free stocks
Moomoo offers advanced, customizable charting and free access to professional-grade tools, including Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.
Trade commission-free stocks, options and ETFs, with no per-contract fees on options, and earn 5.1% APY on your uninvested cash.
Trade commission-free stocks, options, ETFs and Schwab mutual funds, including proprietary Schwab S&P 500 funds. Schwab's popular thinkorswim platform offers advanced traders access to elite trading tools and resources.
Additionally, Schwab provides direct indexing, a managed account that lets you invest directly in individual stocks within a given index, alongside a robo-advisor for automated investing and personalized financial advisory services.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get a $101 bonus
Trade commission-free stocks, options, ETFs and Schwab mutual funds, including proprietary Schwab S&P 500 funds. Schwab's popular thinkorswim platform offers advanced traders access to elite trading tools and resources.
Additionally, Schwab provides direct indexing, a managed account that lets you invest directly in individual stocks within a given index, alongside a robo-advisor for automated investing and personalized financial advisory services.
Pros
Commission-free stocks, options, ETFs and Schwab mutual funds
Trade commission-free stocks, options, ETFs and Fidelity mutual funds, with access to top-tier research tools, low account fees and competitive cash sweep yields.
Additionally, Fidelity offers direct indexing, a robo-advisor and access to human financial advisors for personalized investment guidance.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Trade commission-free stocks, options, ETFs and Fidelity mutual funds, with access to top-tier research tools, low account fees and competitive cash sweep yields.
Additionally, Fidelity offers direct indexing, a robo-advisor and access to human financial advisors for personalized investment guidance.
Pros
Commission-free stocks, options, ETFs and Fidelity mutual funds
Brokerage accounts and IRAs
Index options
Cash sweep program with competitive yields
Robo-advisor and human financial advisors
Direct indexing
Cons
No futures trading
$25,000 minimum to access a Fidelity financial advisor
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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Methodology: How we choose the best brokers for S&P 500 trading
Finder’s investments experts reviewed 18 brokers to identify the best brokerage accounts for investing in S&P 500 stocks, ETFs, options and futures.
Our analysis is based on 147 key metrics collected directly from brokers, evaluating each platform across eight categories that we weigh based on the expertise and insights of Finder’s investment experts. We then score and rank each provider depending on how it performs in each category.
How we weigh the overall rating
Category
Weighting
Investment options
15%
Trading platforms and technology
20%
Trading costs
20%
Account fees
7%
Account types and minimums
6%
Customer support
7%
Mobile app ratings and security
5%
Features and amenities
20%
We regularly update our best picks as products evolve, ensuring our recommendations reflect the most competitive options available in the market.
Tips for choosing a broker
Finder’s picks for the best brokers for S&P 500 trading are meant to provide you with a starting point for finding the right broker for your investing style and goals.
Consider the following factors when comparing your options:
Fees. From trading fees to miscellaneous fees, it’s important to understand the cost of trading and investing. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees, such as inactivity or transfer fees, that can also eat into your profit.
Tradable assets. Not every broker offers the same investment options. Stocks, options and ETFs are standard, but some brokers offer mutual funds, bonds, futures, forex, crypto and more.
Account types. What other account types, in addition to a brokerage account, does the broker offer? If you’re interested in saving for retirement, compare brokers that offer IRAs. Consider your other investment needs and how important it is to maintain all your accounts under one roof.
Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may not matter all that much. Active stock pickers may feel otherwise.
Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
Signup bonus. While it may not make sense to choose a broker solely based on whether it offers a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.
Common mistakes to avoid
When choosing a broker for trading the S&P 500, it’s crucial to avoid these common pitfalls:
Overlooking fees. High fees can erode your investment returns over time. Ensure you understand the fee structure, including commissions, account maintenance fees and any hidden charges.
Ignoring platform usability. A complex or non-intuitive platform can lead to mistakes and missed opportunities. Opt for brokers that offer user-friendly interfaces and robust mobile apps to facilitate smooth trading.
Neglecting research tools. Comprehensive research tools are essential for making informed investment decisions. Brokers should provide access to analytical tools, real-time data and expert insights.
Disregarding customer service quality. Poor customer service can result in delayed responses and unresolved issues. Choose brokers known for their responsive and helpful customer support to ensure assistance is available when needed.
Compare and find the broker that's right for you
Match your experience level with your trading and investing goals to find the right broker for you.
If you're a
And want to
Consider this
Beginner investor
Do most or all of your trading on your mobile device
To start trading the S&P 500, open an account with a reputable broker that offers access to S&P 500 stocks, funds, options or futures. Fund your account, then use the broker’s trading platform to purchase your chosen asset. Ensure you understand the fees, risks and trading tools available.
What should I look for in a broker for S&P 500 trading?
When choosing a broker for S&P 500 trading, look for low fees, a user-friendly platform and robust research tools. Additionally, ensure the broker offers strong customer service and provides access to S&P 500 stocks, funds, options or futures.
Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio
Matt's expertise
Matt has written 204 Finder guides across topics including:
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We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
