Brokerage Accounts for Beginners Compared
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Opening a first brokerage account is easy. Choosing one you will still want after the first few trades takes more thought. The useful differences often sit outside a phone app: IRA access, mutual funds and bonds, browser or desktop tools, customer support, what happens to idle cash, and what it costs to move the account later.
This guide compares ten self-directed brokerage relationships on those practical details. It does not try to name one account for everyone. Start with the products you expect to use, decide how much help you want when something goes wrong, and check the cash and transfer terms before you fund the account.
Educational comparison of published platform features. Not investment, tax, or legal advice. Not an offer or recommendation to open any account or buy any security. Some links are affiliate links. See disclosure.
How this comparison works
The comparison is organized around the parts of a brokerage relationship that a new investor is likely to notice after opening the account. The criteria are descriptive. They do not produce a numerical result or an overall recommendation.
| Criterion | Evaluation standard |
|---|---|
| Core account access | Check the opening minimum, taxable brokerage availability, IRA choices, and whether the standard account is self-directed. Keep managed and promotional minimums separate. |
| Investment range | Compare stocks, ETFs, mutual funds, fixed income, options, fractional shares, and recurring-investment support. State limits instead of turning a partial feature into a broad yes. |
| Platform access | Identify browser, downloadable desktop, and mobile access separately, including material feature gaps between them. |
| Research and service | Record the research and education available to ordinary customers, plus published phone, chat, digital, and branch support channels and hours. |
| Full account cost | Look beyond the headline commission to options contracts, low-priced securities, fund charges, transfers, closure, account-service fees, and conditional waivers. |
| Cash, custody, and protection | Explain the default treatment of uninvested cash, distinguish FDIC and SIPC coverage, name the brokerage and clearing entities where confirmed, and avoid implying protection against market loss. |
Platform comparison
Listed alphabetically. The order of this table is not a ranking.
Ally Invest
- Minimum opening deposit or funding requirement
- $0 minimum for a standard Ally Invest Self-Directed brokerage account. Robo Portfolios use a separate $100 minimum, and individual securities or products can have their own purchase requirements.
- Online stock and ETF commission
- $0 for online trades of eligible U.S. exchange-listed stocks and ETFs. Stocks priced below $2 carry a $4.95 base commission plus $0.01 per share, and opening purchases of OTCBB and Pink Sheet securities require at least $100.
- Options contract fee
- $0 base commission plus $0.50 per contract. Certain index option products can add a $0.35 per-contract exchange-related fee.
- IRA availability and types
- Traditional, Roth, and Rollover IRAs are available for self-directed investing.
- Fractional shares and minimum purchase
- Ally does not document a general program for placing fractional-share buy orders. Fractional shares can result from dividend reinvestment or corporate actions, and residual fractions may require liquidation with the whole-share position or by phone.
- Recurring investing
- Automatic recurring IRA cash contributions and free dividend reinvestment are supported. Ally does not document scheduled recurring purchases of a chosen stock or ETF.
- Web and desktop platform
- Trading is available through ally.com and the browser-based Ally Invest Live dashboard. Ally does not document a separate downloadable desktop trading platform.
- Mobile access
- The Ally mobile experience supports brokerage account access, holdings, order status, and trading workflows. Some settings, including option-level changes, require the desktop site.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- Ally Invest provides screeners, watchlists, news, company data, and TipRanks tools, including analyst research.
- Customer service channels and hours
- Phone support is available at 1-855-880-2559 Monday through Friday from 7 a.m. to 10 p.m. ET and Saturday from 9:30 a.m. to 6 p.m. ET. Chat and email support are also available.
- Default cash sweep or uninvested-cash treatment
- Cash balances in an Ally Invest Self-Directed account do not currently earn interest.
- Account transfer, closure and termination fees
- A full or partial outgoing ACATS transfer costs $50. Closing an IRA adds a $25 fee, so a full outgoing IRA transfer can total $75.
- Brokerage entity, clearing, custody and account protections
- Ally Invest Securities LLC is a FINRA and SIPC member, and Apex Clearing Corporation is the clearing firm. Brokerage securities are not FDIC-insured, are not bank-guaranteed, and may lose value.
- Last fact checked
- 2026-09-13
Charles Schwab
- Minimum opening deposit or funding requirement
- $0
- Online stock and ETF commission
- $0
- Options contract fee
- Base $0; $0.65 per contract
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA, SEP IRA
- Fractional shares and minimum purchase
- Schwab Stock Slices allows purchases of fractional shares in most U.S.-listed stocks and ETFs for as little as $1. Eligibility is not universal, and Schwab identifies eligible securities in the order experience.
- Recurring investing
- Automatic IRA contributions are supported.
- Web and desktop platform
- Yes
- Mobile access
- The Schwab Mobile app supports brokerage and IRA balances, trading, research, alerts, check deposit, transfers, and secure chat.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- Research: Broad product range; fixed-income access; strong retirement infrastructure; research; service channels; linked banking capabilities.; education: Platform education/help resources available; depth varies by topic.
- Customer service channels and hours
- Schwab provides phone support at 800-435-4000, live chat, and branch appointments. Schwab states that live online assistance is available 24 hours a day.
- Default cash sweep or uninvested-cash treatment
- Eligible individual retirement brokerage accounts can use Schwab's Bank Sweep feature; Schwab One Interest can also be available depending on account/cash-feature eligibility.
- Account transfer, closure and termination fees
- $50 per account for a full transfer out; partial transfer out: $0.
- Brokerage entity, clearing, custody and account protections
- Fully paid customer securities are subject to securities-customer protection and segregation rules. SIPC does not protect against declines in investment value.
- Last fact checked
- 2026-09-13
E*TRADE
- Minimum opening deposit or funding requirement
- $0 account minimum for self-directed IRA accounts.
- Online stock and ETF commission
- $0 commission for online trades of U.S.-listed stocks and ETFs. Regulatory, exchange, and other transaction fees can still apply.
- Options contract fee
- $0 base commission plus $0.65 per contract, reduced to $0.50 per contract after at least 30 stock, ETF, or options trades in a calendar quarter.
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA, SEP IRA
- Fractional shares and minimum purchase
- Yes
- Recurring investing
- Yes
- Web and desktop platform
- Yes
- Mobile access
- E*TRADE offers the E*TRADE and Power E*TRADE mobile apps for trading, portfolio monitoring, research, alerts, deposits, and account management.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- The platform includes screeners, market data, analyst research, Morgan Stanley research and insights, educational articles, and webinars.
- Customer service channels and hours
- Phone support is available at 800-387-2331, with online FAQs, forms, and secure document upload. E*TRADE's current contact page does not publish general brokerage phone hours.
- Default cash sweep or uninvested-cash treatment
- Eligible free credit balances in E*TRADE self-directed accounts are automatically swept through the Bank Deposit Program into interest-bearing deposits at participating FDIC-insured banks; balances above the program deposit maximum can move to the applicable money market sweep fund.
- Account transfer, closure and termination fees
- $75 for a full outgoing account transfer.
- Brokerage entity, clearing, custody and account protections
- Self-directed brokerage assets are held through Morgan Stanley Smith Barney LLC, a SIPC member. SIPC applies subject to its limits; cash swept into Bank Deposit Program banks is eligible for FDIC coverage under program terms and is not SIPC-covered while on deposit.
- Last fact checked
- 2026-09-13
Fidelity
- Minimum opening deposit or funding requirement
- $0
- Online stock and ETF commission
- $0
- Options contract fee
- Base $0; $0.65 per contract
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA, SEP IRA
- Fractional shares and minimum purchase
- Yes; minimum purchase $1
- Recurring investing
- Yes — recurring investments can be scheduled in stocks, ETFs and mutual funds inside Traditional, Rollover and Roth IRAs.
- Web and desktop platform
- Yes
- Mobile access
- The Fidelity Investments app for iOS and Android supports U.S. stock and ETF trading, account monitoring, transfers, check deposit, research, and planning tools.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- Research: Broad account lineup; large investment menu; mutual-fund access; retirement infrastructure; fractional shares; research and planning tools.; education: Platform education/help resources available; depth varies by topic.
- Customer service channels and hours
- Phone support is available 24 hours a day at 800-343-3548. The virtual assistant is available 24 hours a day, and live chat is available Monday through Friday from 8 a.m. to 10 p.m. ET and Saturday and Sunday from 9 a.m. to 4 p.m. ET.
- Default cash sweep or uninvested-cash treatment
- Certain eligible Fidelity retirement accounts can use the FDIC-Insured Deposit Sweep Program; other core-position choices can apply depending on account type.
- Account transfer, closure and termination fees
- IRA closeout fee: $0.
- Brokerage entity, clearing, custody and account protections
- Fidelity Brokerage Services LLC is the introducing broker-dealer, and National Financial Services LLC provides clearing and custody; both are FINRA members and SIPC members. SIPC protection does not cover market losses. Eligible deposits placed through the FDIC-Insured Deposit Sweep are obligations of program banks and use FDIC, not SIPC, coverage within applicable limits.
- Last fact checked
- 2026-09-13
J.P. Morgan Self-Directed Investing
- Minimum opening deposit or funding requirement
- $0 account-opening minimum for the self-directed brokerage. The $5 fractional-share amount is a minimum eligible fractional purchase, not an account-funding requirement.
- Online stock and ETF commission
- $0 commission for online trades of U.S.-listed stocks and ETFs. Regulatory and other transaction fees can still apply.
- Options contract fee
- $0 base commission plus $0.65 per contract.
- IRA availability and types
- Traditional and Roth IRAs are available for J.P. Morgan Self-Directed Investing.
- Fractional shares and minimum purchase
- Yes
- Recurring investing
- Recurring purchases are available for eligible stocks, ETFs, and mutual funds. The minimum recurring purchase for an eligible stock or ETF is $5, and margin accounts are not eligible.
- Web and desktop platform
- The account can be managed and traded through the browser-based investing experience on chase.com. J.P. Morgan does not document a separate downloadable desktop trading platform for this account.
- Mobile access
- The Chase Mobile app supports account monitoring, research, order entry, transfers, and recurring investment management for Self-Directed Investing accounts.
- Mutual funds and fixed income
- Mutual funds: Yes
- Research and investor education
- Customers can use Investing Insights, market news, security research, screeners, and educational material within the Chase investing experience.
- Customer service channels and hours
- Phone support is available at 1-833-542-1013 Monday through Friday from 8 a.m. to 9 p.m. ET and Saturday from 9 a.m. to 5 p.m. ET.
- Default cash sweep or uninvested-cash treatment
- Unless another eligible option is selected, uninvested cash is automatically swept to a deposit account at JPMorgan Chase Bank, N.A. The bank deposit is eligible for FDIC insurance within applicable limits and is not protected by SIPC.
- Account transfer, closure and termination fees
- A full outgoing brokerage account transfer or account termination costs $75. A full retirement-account distribution or transfer also costs $75.
- Brokerage entity, clearing, custody and account protections
- J.P. Morgan Securities LLC is the broker-dealer and is a FINRA and SIPC member. Eligible cash swept to JPMorgan Chase Bank, N.A. is a bank deposit covered by FDIC insurance within applicable limits, while brokerage investments are not FDIC-insured.
- Last fact checked
- 2026-09-13
Merrill Edge
- Minimum opening deposit or funding requirement
- There is no minimum opening deposit for a Merrill Edge Self-Directed general investing account.
- Online stock and ETF commission
- $0
- Options contract fee
- Base $0; $0.65 per contract
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA, SEP IRA
- Fractional shares and minimum purchase
- Direct fractional-share purchase support is not documented in the current official Merrill self-directed product and pricing materials reviewed September 10, 2026.
- Recurring investing
- Recurring IRA funding is supported through Merrill's Automated Funding Service. Merrill also documents Automatic Investment Plans for eligible mutual funds already owned; this does not establish recurring stock or ETF purchases.
- Web and desktop platform
- Yes
- Mobile access
- The Merrill mobile app for iOS and Android supports trading, balances, watchlists, research, transfers, and mobile check deposit. Customers can use the same sign-in for linked Merrill and Bank of America accounts.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- Research: BofA Global Research, Morningstar, CFRA, Trading Central, OptionsPlay, Idea Builder, fixed income and mutual fund screeners, MarketPro analytics; education: Investor education, planning tools and market commentary within the Merrill Edge site
- Customer service channels and hours
- Phone support is available 24 hours a day at 888-637-3343. Merrill also provides online help and appointment scheduling.
- Default cash sweep or uninvested-cash treatment
- For a taxable Cash Management Account, eligible uninvested cash uses the Bank Deposit Accounts sweep. Money market mutual funds require a separate purchase and are not automatic sweep vehicles. IRA cash may use the Retirement Asset Savings Program, but that IRA arrangement does not describe the general taxable brokerage account.
- Account transfer, closure and termination fees
- A partial outgoing account transfer costs $0. A full transfer of a Merrill Edge Self-Directed general investing account costs $49.95. A retirement-account closeout or full transfer also costs $49.95.
- Brokerage entity, clearing, custody and account protections
- Merrill Lynch, Pierce, Fenner & Smith Incorporated is a SIPC member. Eligible brokerage assets receive SIPC protection subject to its limits; eligible cash in a bank-deposit sweep such as RASP II uses the applicable FDIC framework instead.
- Last fact checked
- 2026-09-13
Robinhood
- Minimum opening deposit or funding requirement
- Robinhood's standard self-directed brokerage account has no account minimum. The separate $50 minimum for Robinhood Strategies does not apply to this self-directed brokerage row.
- Online stock and ETF commission
- $0
- Options contract fee
- Base $0; $0
- IRA availability and types
- Traditional IRA, Roth IRA
- Fractional shares and minimum purchase
- Yes; minimum purchase $1 minimum value for eligible fractional stock/ETF orders.
- Recurring investing
- Yes
- Web and desktop platform
- Robinhood mobile app, Robinhood web (classic), Robinhood Legend
- Mobile access
- Yes
- Mutual funds and fixed income
- Mutual funds: No; fixed income: No
- Research and investor education
- Research: Robinhood Legend charting, indicators, drawing tools, real-time scanners and options analysis; options chains with Greeks, implied volatility and simulated returns; futures ladder and product search; Strategies digests and insights for managed accounts.; education: Robinhood Learn articles, in-app product education, Gold Learn & Earn content and options approval education. Robinhood does not provide a full research-desk publication library.
- Customer service channels and hours
- In-app chat is available 24 hours a day. Eligible investing questions can use callback support Monday through Friday from 7 a.m. to 9 p.m. ET, excluding holidays, and Robinhood says a callback typically arrives within 30 minutes. Not every request is eligible for phone support.
- Default cash sweep or uninvested-cash treatment
- Cash swept to participating program banks can be eligible for FDIC pass-through deposit insurance subject to limits and conditions.
- Account transfer, closure and termination fees
- Robinhood charges $100 for a full or partial outgoing ACATS transfer. A separate match-removal fee can apply when matched IRA assets leave before the promotion's holding period; that conditional recapture is not part of the permanent ACATS fee.
- Brokerage entity, clearing, custody and account protections
- Robinhood Financial LLC and Robinhood Securities LLC are SIPC members for eligible securities/cash. Robinhood Crypto positions and Robinhood Derivatives futures positions are not SIPC-protected. Eligible swept cash at program banks may receive FDIC pass-through insurance subject to program conditions. SIPC does not insure market losses.
- Last fact checked
- 2026-09-13
SoFi Invest
- Minimum opening deposit or funding requirement
- Self-directed minimum $5. Robo Investing minimum $50. Private-market fund minimums are fund-specific, including USVC $500 and CAZ funds $2,500.
- Online stock and ETF commission
- $0 online commissions on eligible trades
- Options contract fee
- Base $0, with exchange, regulatory and other contract-related charges still applying
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA, SEP IRA
- Fractional shares and minimum purchase
- Yes; minimum purchase $5 minimum for an eligible fractional stock purchase (Stock Bit).
- Recurring investing
- Yes — eligible fractional stocks/ETFs; scheduled dollar-based purchases.
- Web and desktop platform
- SoFi Active Investing is available through a web browser. SoFi does not document a separate downloadable desktop trading platform.
- Mobile access
- The SoFi app supports self-directed stock and ETF trading, account monitoring, order management, and transfers.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- Research: Consumer-grade investing tools within the SoFi app rather than a professional active-trading terminal.; education: SoFi member education content and access to financial planners as part of the broader member ecosystem; a complimentary planning session is not an ongoing human-managed advisory relationship.
- Customer service channels and hours
- Customer support is available by phone at 855-456-7634 and through chat. SoFi publishes support hours of Monday through Thursday from 5 a.m. to 7 p.m. PT and Friday through Sunday from 5 a.m. to 5 p.m. PT. Investment specialists can also be reached at 855-525-7634 for trading assistance.
- Default cash sweep or uninvested-cash treatment
- Brokerage cash sweep: eligible uninvested brokerage cash may be swept by Apex to program banks and may earn variable interest. The brokerage-sweep APY can change daily without notice; no fixed current APY is published here. Swept deposits may be eligible for FDIC insurance at program banks; before sweep, applicable brokerage cash follows SIPC rules.
- Account transfer, closure and termination fees
- SoFi charges $100 for a full or partial outgoing ACATS transfer. If assets earned a promotion, an additional early-withdrawal fee can reclaim some or all of the match during the holding period. The promotional recapture is conditional and should not be combined with the standard transfer fee.
- Brokerage entity, clearing, custody and account protections
- Apex Clearing Corporation provides clearing and custody of conventional securities under the current SoFi disclosure structure
- Last fact checked
- 2026-09-13
Vanguard
- Minimum opening deposit or funding requirement
- $0 to open a Vanguard Brokerage IRA.
- Online stock and ETF commission
- $0 commission for online trades of stocks and ETFs in a Vanguard Brokerage Account. Regulatory, exchange, and other transaction fees can still apply.
- Options contract fee
- For clients with less than $1 million in qualifying Vanguard assets, online options trades have no base commission and cost $1 per contract. Higher asset tiers can receive a limited number of commission-free options trades before the $1 per-contract rate applies.
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA, SEP IRA
- Fractional shares and minimum purchase
- Yes — fractional investing is available for Vanguard ETFs, with purchases from $1. Not every stock, ETF, or mutual fund is fractionally eligible.
- Recurring investing
- Yes — Vanguard supports recurring investments into eligible brokerage/fund accounts, including retirement-account funding workflows; investment eligibility depends on the product selected.
- Web and desktop platform
- The account can be managed and traded through vanguard.com. Vanguard does not document a separate downloadable desktop trading platform for its standard brokerage account.
- Mobile access
- The Vanguard mobile app supports trading, account balances, order history, research, transfers, check deposit, and movement of cash to or from the settlement fund.
- Mutual funds and fixed income
- Mutual funds: Yes; fixed income: Yes
- Research and investor education
- Research: Portfolio-planning and retirement tools plus fund research; not built as an active-trader analytics workstation.; education: Extensive first-party investor education, planning tools and retirement guidance; depth varies by topic.
- Customer service channels and hours
- Personal-investor phone support is available at 877-662-7447 Monday through Friday from 8 a.m. to 8 p.m. ET. Vanguard also provides an online support center.
- Default cash sweep or uninvested-cash treatment
- Uninvested cash in a Vanguard Brokerage IRA is held in the account's settlement fund until it is invested; the applicable settlement option and yield can change with the account and product.
- Account transfer, closure and termination fees
- $100 for an account closure and full transfer to another firm; specified high-asset and Vanguard-affiliated advisory-service clients can qualify for waivers.
- Brokerage entity, clearing, custody and account protections
- IRA investments held in a Vanguard brokerage account are covered by SIPC subject to its limits. SIPC protects against certain brokerage-custody failures, not market losses.
- Last fact checked
- 2026-09-13
Webull
- Minimum opening deposit or funding requirement
- $0
- Online stock and ETF commission
- $0
- Options contract fee
- Base $0; $0
- IRA availability and types
- Traditional IRA, Roth IRA, Rollover IRA
- Fractional shares and minimum purchase
- Yes
- Recurring investing
- Yes
- Web and desktop platform
- Webull Desktop, Webull WebTrade, Webull Mobile App, Webull Lite
- Mobile access
- Webull's iOS and Android apps support self-directed trading, charting, market data, account monitoring, deposits, withdrawals, and order management.
- Mutual funds and fixed income
- Fixed income: Yes
- Research and investor education
- Research: Advanced charts; desktop and mobile trading; extended hours; paper-trading and active-trader features; no general brokerage minimum.; education: Platform education/help resources available; depth varies by topic.
- Customer service channels and hours
- Phone support is available at 888-828-0618 Monday through Friday from 8 a.m. to 5 p.m. ET. Webull also provides in-app help and email support.
- Default cash sweep or uninvested-cash treatment
- Customers enrolled in Webull Cash Management have eligible uninvested cash swept to a network of program banks. Webull states that combined FDIC coverage can reach $5 million, subject to the $250,000 limit per customer, per bank, per ownership category and to deposits held at the same banks outside the program. Cash that is not enrolled in the bank-sweep program remains subject to brokerage cash treatment, including applicable SIPC protection rather than FDIC insurance.
- Account transfer, closure and termination fees
- A full or partial outgoing ACATS transfer costs $75. A full transfer closes the account; Webull's current account-closure instructions do not list a separate general closure fee.
- Brokerage entity, clearing, custody and account protections
- Webull Financial LLC is an SEC-registered broker-dealer and a FINRA and SIPC member. SIPC protection is limited to $500,000 per customer, including up to $250,000 for cash, and does not protect against market losses. Clearing arrangements can involve Apex Clearing Corporation; any excess coverage depends on the applicable clearing arrangement.
- Last fact checked
- 2026-09-13
Which platform fits which situation
Broad brokerage and support access
For readers who want a full self-directed brokerage relationship with retirement accounts, broad product access, research, and several ways to reach support.
Schwab combines brokerage and IRA access with stocks, ETFs, mutual funds, fixed income, browser and mobile tools, live support, and branches.
Not a fit if: You want a phone-first experience with very few account or product choices.
Fact checked
Broad brokerage and support access
For readers who want a full self-directed brokerage relationship with retirement accounts, broad product access, research, and several ways to reach support.
Fidelity covers taxable and retirement accounts, a wide product range, research, recurring features, mobile access, and round-the-clock phone support.
Not a fit if: You want the smallest possible menu and do not expect to use research, retirement, or fund tools.
Fact checked
Broad brokerage and support access
For readers who want a full self-directed brokerage relationship with retirement accounts, broad product access, research, and several ways to reach support.
Merrill Edge offers a broad self-directed account and can place brokerage and Bank of America access behind one sign-in.
Not a fit if: You do not use Bank of America and want a stand-alone trading interface without a bank-linked account experience.
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Bank-linked self-directed investing
For readers who value keeping investing alongside an existing banking relationship, while retaining control of their own trades.
Ally Invest places self-directed brokerage access next to Ally's banking tools and includes a browser dashboard, options trading, IRAs, and research.
Not a fit if: General fractional-share purchases or scheduled stock and ETF purchases are essential to your plan.
Fact checked
Bank-linked self-directed investing
J.P. Morgan Self-Directed Investing
For readers who value keeping investing alongside an existing banking relationship, while retaining control of their own trades.
The account sits inside Chase's web and mobile experience and supports IRAs, recurring eligible investments, research, and a bank-deposit cash sweep.
Not a fit if: You want a separate downloadable desktop trading platform or want to avoid a $75 full transfer fee.
Fact checked
Bank-linked self-directed investing
For readers who value keeping investing alongside an existing banking relationship, while retaining control of their own trades.
SoFi Active Investing works on the web and in the SoFi app, with stocks, ETFs, fractional purchases, IRAs, and other SoFi financial products available through the same customer relationship.
Not a fit if: You want a downloadable desktop platform or a large catalog of traditional mutual funds and fixed-income securities.
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Multiple trading platforms
For readers who want more than one interface for placing and monitoring trades, including a mobile app and a more detailed web or desktop experience.
E*TRADE provides standard and Power E*TRADE experiences across web and mobile, plus a downloadable Pro platform, research, education, and broad brokerage products.
Not a fit if: You prefer one simple interface and do not want to choose among several trading platforms.
Fact checked
Multiple trading platforms
For readers who want more than one interface for placing and monitoring trades, including a mobile app and a more detailed web or desktop experience.
Webull offers mobile, browser, and downloadable desktop platforms with charting and market tools for self-directed trading.
Not a fit if: Mutual funds, traditional branch access, or broad retirement-planning support matter more than trading tools.
Fact checked
Fund-focused long-term account
For readers whose main use is buying and holding funds in a taxable account or IRA, with less emphasis on frequent trading.
Vanguard's brokerage account centers its own funds alongside stocks, ETFs, other funds, bonds, and retirement accounts, with web and mobile access.
Not a fit if: You want a feature-heavy trading workstation, broad fractional-share eligibility, or inexpensive frequent options trading.
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Simple stock and ETF account
For readers who mainly want a direct way to buy stocks and ETFs, including fractional and recurring purchases, without making a full-service brokerage menu the priority.
Robinhood's self-directed account focuses on mobile and web access to stocks, ETFs, fractional shares, recurring purchases, and selected additional products without an account minimum.
Not a fit if: You need traditional mutual funds, a deep fixed-income catalog, branches, or phone service for every support request.
Fact checked
Platform notes
Ally Invest
Ally Invest covers the basics of self-directed stock, ETF, and options trading and can be convenient for an existing Ally customer. The tradeoff is that fractional shares mainly arise through dividend reinvestment or corporate actions, not through a general fractional-order feature. Idle cash in the self-directed account does not currently earn interest, and outgoing transfers carry a fee.
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Charles Schwab
Schwab provides a wide brokerage menu, retirement accounts, research, mobile tools, phone and chat support, and branches. Its fractional-share program now covers most U.S.-listed stocks and ETFs from $1, but eligibility still has to be checked for the security you want. The breadth can be useful, though it also means there is more to learn than in a minimal trading app.
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E*TRADE
E*TRADE gives beginners room to grow from a standard web or mobile account into the Power E*TRADE tools and downloadable Pro platform. It also covers retirement accounts, funds, bonds, research, and education. Options pricing depends partly on quarterly trading activity, so the headline contract fee is not the same for every customer.
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Fidelity
Fidelity combines a broad product range with taxable accounts, IRAs, recurring features, research, a mobile app, and 24-hour phone support. It can suit someone who wants one brokerage for both everyday investing and retirement. Cash treatment can vary by account type and eligibility, so the specific core position still needs to be checked when the account is opened.
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J.P. Morgan Self-Directed Investing
J.P. Morgan Self-Directed Investing fits inside the Chase website and mobile app, which may be useful for an existing Chase customer. It supports $5 recurring purchases of eligible stocks and ETFs, along with IRAs, research, funds, and bonds. The standard full outgoing transfer fee is $75, and the default bank-deposit cash sweep has different protection from brokerage securities.
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Merrill Edge
Merrill Edge combines a full self-directed brokerage account with a linked Bank of America experience. It has no opening minimum for a general investing account and includes stocks, ETFs, funds, bonds, IRAs, research, and mobile access. Its taxable-account cash sweep is not the same as the IRA sweep, and buying a money market fund requires a separate order.
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Robinhood
Robinhood keeps the standard self-directed account focused on stocks, ETFs, fractional shares, recurring purchases, and a mobile-first interface. The brokerage account has no account minimum, and the separate Robinhood Strategies minimum should not be used to describe it. The narrower support model and lack of traditional mutual funds may matter more as an investor's needs expand.
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SoFi Invest
SoFi Active Investing offers web and mobile access, fractional stock purchases, IRAs, and a connection to the broader SoFi account experience. It can make sense for someone who wants straightforward self-directed investing alongside other SoFi products. It does not document a downloadable desktop trading platform, and its product range is not the same as a traditional full-service broker's fund and bond catalog.
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Vanguard
Vanguard is built around long-term brokerage and retirement investing, particularly for investors who use Vanguard funds. Online stock and ETF trades cost $0, but options usually cost $1 per contract for clients below the first qualifying asset tier. Its tools are more focused on account management and long-term investing than on an active-trading workstation.
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Webull
Webull offers mobile, web, and downloadable desktop platforms with charting and market tools. That gives a new investor more room to explore trading features, but the product and service model is less traditional than a brokerage with branches, broad mutual-fund access, and retirement planning support. Its optional cash-management sweep and brokerage protections should be read as separate arrangements.
Fact checked
What actually drives your costs
A $0 stock or ETF commission does not make an account free in every situation. Options contracts, low-priced or over-the-counter securities, outgoing transfers, account closure, wires, mutual-fund transactions, and regulatory charges can still create costs. Cash also deserves its own check. Depending on the broker and account, idle cash may sit in a brokerage balance, move to a bank-deposit sweep, use a money market position, or earn no interest.
- Ally Invest
- $0 for eligible online U.S. stock and ETF trades, $0.50 per options contract, $50 for a full or partial outgoing ACATS transfer, and an extra $25 IRA closure fee. Self-directed cash does not currently earn interest.
- Charles Schwab
- $0 online stock and ETF commission under the standard schedule. Check the current options, transfer, service, and cash-sweep terms for the account you open.
- E*TRADE
- $0 online U.S.-listed stock and ETF commission. Options cost $0.65 per contract, or $0.50 after at least 30 qualifying trades in a quarter.
- Fidelity
- $0 online U.S. stock and ETF commission under the standard retail schedule. Cash treatment can depend on account type and eligibility.
- J.P. Morgan Self-Directed Investing
- $0 online U.S.-listed stock and ETF commission, $0.65 per options contract, and $75 for a full outgoing brokerage or retirement-account transfer. Default eligible cash moves to a JPMorgan Chase Bank deposit account.
- Merrill Edge
- $0 online stock and ETF commission and $0.65 per options contract under the standard schedule. Partial outgoing transfers cost $0, while a full transfer costs $49.95. The taxable Cash Management Account uses a bank-deposit sweep; money market funds require a separate purchase.
- Robinhood
- $0 commission for standard online stock, ETF, and options trades, though regulatory and product-specific charges can apply. Review the current transfer fee, IRA-match recapture terms, and cash-program enrollment before moving an account.
- SoFi Invest
- $0 online stock and ETF commission under the standard Active Investing schedule. Other product, regulatory, fund, and transfer charges can apply, and promotional terms should be evaluated separately.
- Vanguard
- $0 online stock and ETF commission. Clients below $1 million in qualifying Vanguard assets generally pay $1 per options contract; a $100 account closure or full-transfer fee and a $25 annual account fee can apply unless an exception or waiver applies.
- Webull
- $0 commission for standard online stock and ETF trades under the published schedule. A full or partial outgoing ACATS transfer costs $75. Eligible cash receives bank-sweep treatment only when enrolled in Cash Management.
Pricing and cash terms checked
Pricing and cash terms were checked on September 13, 2026. Providers can change them, and some charges depend on the security, account type, balance, activity, enrollment, or service channel. Confirm the current schedule before opening or transferring an account.
Who this page is not for
- People who want a managed portfolio and do not want to choose or place investments themselves. A robo-adviser comparison is a closer match.
- Active derivatives traders who need futures, complex order routing, or specialist options analytics. Those needs call for a trading-platform comparison.
- Investors choosing only by a temporary transfer bonus, IRA match, or deposit promotion. Offers can change faster than the underlying account.
- Anyone looking for a recommendation based on personal taxes, risk tolerance, or retirement circumstances. Those questions require individual analysis that this comparison does not provide.
Methodology
Inclusion criteria
- The provider offers a U.S. self-directed brokerage account to individual investors.
- The account provides online access to stocks and ETFs and publishes enough first-party information to evaluate the page's factual dimensions.
- The provider has a live ROIStreet review record and can be resolved through the frozen roundup data model.
Evidence policy
- Pricing, eligibility, support hours, cash treatment, transfer fees, and entity details use current first-party product pages, fee schedules, help pages, customer agreements, or regulatory disclosures.
- A provider's own marketing statement is reported only as the provider's published term. It is not treated as an independent endorsement or evidence of investment results.
- When a feature applies only to a product, account type, security list, balance tier, enrollment state, or promotion, that condition stays in the canonical fact.
Limitations
- This comparison does not cover every broker, every fee, every security, or every account restriction.
- Support wait times, app behavior, security eligibility, interest rates, and promotions can change between review dates and can differ by customer or account.
- SIPC and FDIC coverage have different rules and do not protect an investor from a decline in market value. Tax and account-suitability questions are outside this guide's scope.
Review workflow
- Resolve every platform to its existing canonical review record and audit all 14 dimensions for missing, stale, conflicting, or incorrectly scoped data.
- Verify change-sensitive facts against current first-party sources, store plain reader-facing text, and attach citations without placing source data in the table.
- Run a final editorial, display, intent-overlap, regression, and publication-state audit before requesting separate publication approval.
Review cycle
Quarterly, with an earlier review if a provider changes pricing, account eligibility, cash treatment, transfer fees, or its brokerage or clearing arrangement. Byline: ROIStreet Editorial. Reviewer: ROIStreet Publisher. Reviewed September 13, 2026; next scheduled review December 13, 2026.
Disclosure
ROIStreet may earn compensation when a reader opens an account through certain links on this page. Commercial relationships do not determine which platforms are included, the platform order, the facts reported, or the editorial conclusions. This page is educational and is not investment, tax, or legal advice.
Frequently asked questions
What is the difference between a brokerage account and an investing app?
An investing app describes an interface. A brokerage account is the legal account used to hold cash and securities and place trades. Some brokers are mainly experienced through an app, while others also provide browser tools, downloadable software, retirement accounts, mutual funds, bonds, branches, and more extensive service. This guide compares the broader account relationship, not just the app.
Do beginner brokerage accounts have a minimum deposit?
Many self-directed brokerage accounts have no opening minimum, but a security or feature can have its own purchase minimum. Fractional shares, mutual funds, recurring orders, margin, promotions, and managed products may each use different thresholds. Read the account minimum separately from those product-specific amounts.
Should a beginner open a taxable brokerage account or an IRA?
They serve different purposes. A taxable brokerage account offers flexible access to the money but does not have the same retirement tax treatment. An IRA has contribution, withdrawal, and eligibility rules. The right choice depends on the purpose of the money and the investor's tax situation, so the presence of an IRA is a comparison fact rather than a recommendation.
Is uninvested brokerage cash protected by FDIC or SIPC?
It depends on where the cash is held. Cash swept to an eligible bank deposit may receive FDIC insurance within applicable limits. Cash or securities held at a SIPC-member brokerage may receive SIPC protection if the brokerage fails and customer property is missing. Neither program covers investment losses, and deposits at the same bank can count together toward FDIC limits.
Why do transfer fees matter if trading commissions are $0?
A broker can charge nothing for an online stock trade and still charge to move or close an account. Full and partial outgoing transfers can have different prices, and IRAs, promotional benefits, and fractional positions can follow separate rules. Check the transfer schedule before choosing an account you may later move.
Are fractional shares and recurring investing the same feature?
No. Fractional trading lets an investor buy less than one whole share. Recurring investing schedules future purchases. A broker may offer one without the other, limit either feature to eligible securities, or create fractional shares only through dividend reinvestment.
Does branch or phone support matter for a first brokerage account?
It can matter when an account transfer stalls, a tax form looks wrong, a beneficiary needs to be changed, or online access is locked. Someone comfortable with chat and self-service tools may place less value on branches or round-the-clock phone access. The useful comparison is which channels exist and when they are available.
Can someone use more than one brokerage account?
Yes. Investors can hold accounts at more than one broker, but doing so adds statements, tax forms, cash balances, beneficiaries, and security settings to manage. Protection limits and wash-sale reporting can also require attention across accounts. Simplicity is a reasonable factor when choosing a first account.
Head-to-head comparisons
Related pages
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