Best Online BrokersUpdated August 2026 · 12 brokers, every figure sourced

INTERACTIVE BROKERS LLC · CRD 36418 · SIPC member

Stocks and ETFs

IBKR Lite $0; IBKR Pro from $0.0035/share (tiered) or $0.005/share (fixed)

Options, per contract

$0.65 per contract

To open

$0

Leads this ranking on 9.1/10. The largest single contribution is 9/10 on fees and total cost, weighted 35% here and worth 3.2 of the total. Its 8/10 on account types and features adds 1.0 at 13%.

On fees and total cost: IBKR Lite is $0 on US listed equities for US residents. IBKR Pro tiered starts at $0.0035 per share with a $0.35 order minimum and a 1% of trade value cap, which is the cheapest published schedule in our set for large orders. Small Pro orders hit the per-order minimum, so it is not universally cheapest.

FIDELITY BROKERAGE SERVICES LLC · CRD 7784 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0.65

To open

$0

Ranks 2nd on 8.9/10. The largest single contribution is 9/10 on fees and total cost, weighted 35% here and worth 3.2 of the total. Its 10/10 on account types and features adds 1.3 at 13%.

On fees and total cost: $0 equity and ETF commissions, $0.65 per options contract, no account minimum, no published account service or inactivity fee, and $0 to transfer assets. Options pricing is mid-pack rather than lowest.

CHARLES SCHWAB & CO., INC. · CRD 5393 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0.65

To open

$0

Ranks 3rd on 8.7/10. The largest single contribution is 8/10 on fees and total cost, weighted 35% here and worth 2.8 of the total. Its 9/10 on account types and features adds 1.2 at 13%.

On fees and total cost: $0 listed equity and ETF commissions, $0.65 per options contract, $0 account minimum and $0 opening and maintenance fees. Marked down from 9 on 30 August 2026 after we read the April 2026 pricing guide, which adds three costs the headline schedule does not show: a $6.95 OTC equity commission, $50 to transfer a full account out, and a currency conversion markup of up to 3% of principal. Fidelity charges none of the three.

MORGAN STANLEY · CRD 149777 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0.65

Ranks 4th on 8.1/10. The largest single contribution is 8/10 on fees and total cost, weighted 35% here and worth 2.8 of the total. Its 9/10 on account types and features adds 1.2 at 13%.

On fees and total cost: $0 on stocks, ETFs and mutual funds with a $0.65 options contract fee that falls to $0.50 at 30 trades per quarter. Futures at $1.50 per contract are the most expensive futures rate we recorded, and crypto at 0.50% is mid-pack.

TASTYTRADE, INC. · CRD 277027 · SIPC member

Stocks and ETFs

$0

Options, per contract

$1.00 to open, $0 to close

Ranks 5th on 7.5/10. The largest single contribution is 8/10 on fees and total cost, weighted 35% here and worth 2.8 of the total. Its 6/10 on account types and features adds 0.8 at 13%, and is what holds it back here.

On fees and total cost: Free equity trades and a $10 per leg cap that makes large multi-leg options orders unusually cheap, with nothing charged to close a position. Scored below the flat-zero firms because a single equity option contract costs $1 to open, against $0.04 at the cheapest firm in our set, and — read on 30 August 2026 — closing the account costs $75 on the way out.

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED · CRD 7691 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0.65

To open

$0

Ranks 6th on 7.5/10. The largest single contribution is 9/10 on safety and regulation, weighted 30% here and worth 2.7 of the total. Its 8/10 on account types and features adds 1.0 at 13%.

On safety and regulation: Active SEC-registered broker-dealer (8-7221) — the lowest SEC file number in our set, indicating a very long registration history — and a SIPC member within Bank of America. No headline retail enforcement matter identified in our sourced review.

WEBULL FINANCIAL LLC · CRD 289063 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0

To open

$0

Ranks 7th on 7.2/10. The largest single contribution is 9/10 on fees and total cost, weighted 35% here and worth 3.2 of the total. Its 5/10 on account types and features adds 0.7 at 13%, and is what holds it back here.

On fees and total cost: $0 on US-listed stocks, ETFs and standard options contracts, with regulatory fees itemised transparently. Held off a 10 by the $75 outgoing transfer fee, which is a real switching cost.

OPEN TO THE PUBLIC INVESTING, INC. · CRD 127818 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0

Ranks 8th on 7.2/10. The largest single contribution is 8/10 on fees and total cost, weighted 35% here and worth 2.8 of the total. Its 5/10 on account types and features adds 0.7 at 13%, and is what holds it back here.

On fees and total cost: $0 on US-listed stocks and ETFs in regular hours, $0 per stock and ETF options contract, and margin from 4.90% falling to 3.95% — the cheapest margin schedule we recorded, undercutting the next firm by more than six percentage points at the entry tier. Held to an 8 by three charges the headline pricing does not show: $2.99 per extended-hours or OTC trade without Premium, $100 to transfer the account out, and a 0.30% fee on currency conversion.

VANGUARD MARKETING CORPORATION · CRD 7452 · SIPC member

Stocks and ETFs

$0

Options, per contract

$1.00

Ranks 9th on 7.2/10. The largest single contribution is 9/10 on safety and regulation, weighted 30% here and worth 2.7 of the total. Its 8/10 on account types and features adds 1.0 at 13%.

On safety and regulation: Active SEC-registered broker-dealer (8-21570) with a low CRD number indicating long registration history, and a SIPC member. No headline retail enforcement matter identified in our sourced review.

TRADESTATION SECURITIES, INC. · CRD 39473 · SIPC member

Stocks and ETFs

$0 per share

Options, per contract

$0.50–$0.80 per contract per side

To open

$2,000

Ranks 10th on 6.8/10. The largest single contribution is 8/10 on safety and regulation, weighted 30% here and worth 2.4 of the total. Its 6/10 on account types and features adds 0.8 at 13%, and is what holds it back here.

On safety and regulation: Active SEC-registered broker-dealer (8-48711) and SIPC member with a registration history predating the newer app-first firms. No enforcement matter identified in our sourced review.

ROBINHOOD FINANCIAL, LLC · CRD 165998 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0.04

To open

$0

Ranks 11th on 6.6/10. The largest single contribution is 8/10 on fees and total cost, weighted 35% here and worth 2.8 of the total. Its 5/10 on account types and features adds 0.7 at 13%, and is what holds it back here.

On fees and total cost: $0 commissions on stocks and ETFs and $0.04 per equity options contract — the lowest per-contract fee we recorded — alongside the lowest margin rates in our set, from 5.00% down to 3.95%. Marked down from 9 on 30 August 2026 after we read the standard fee schedule, which charges $100 to move an account out, on partial transfers as well as full ones. That is the joint-largest exit charge among the firms we publish.

ETORO USA SECURITIES INC. · CRD 298361 · SIPC member

Stocks and ETFs

$0

Options, per contract

$0

Ranks 12th on 6.4/10. The largest single contribution is 8/10 on fees and total cost, weighted 35% here and worth 2.8 of the total. Its 3/10 on account types and features adds 0.4 at 13%, and is what holds it back here.

On fees and total cost: $0 stock and ETF commissions with no per-contract options fee for US users, and $0 withdrawal fees. The full brokerage fee schedule, read on 31 August 2026, shows the costs the headline does not: $75 to transfer the account out, $10 a month in inactivity fees, and a 0.25% FX spread on non-USD wires. With crypto at a flat 1% as well, that is a wider fee surface than the zero-commission framing suggests.