United States · US · SEC, with FINRA as the self-regulatory organization

Brokers in the United States

The United States is our launch market and the only one where we publish a broker ranking. Every broker in our database is an active SEC-registered broker-dealer, a FINRA member and a SIPC member, and we publish each firm's CRD and SEC file number so you can check its status yourself.

Written by: Juan Manuel Gonzalez
Published: August 28, 2026
Data verified: August 28, 2026

Investor protection — SIPC

$500,000 per customer, including a $250,000 limit for cash

Covers the custody function only: it restores securities and cash missing from an account when a member firm fails. It does not cover a decline in the value of your holdings, bad advice, futures, foreign exchange, or digital assets that are unregistered investment contracts.

SIPC — What SIPC protects

What we verified

Read August 28, 2026

Primary securities regulator: US Securities and Exchange Commission (SEC) SEC — Investor.gov
Self-regulatory organization: Financial Industry Regulatory Authority (FINRA) FINRA BrokerCheck
Account minimums: $0 at Fidelity, Charles Schwab, Interactive Brokers, Robinhood, Webull and Merrill Edge, per each firm's published schedule.
Typical base currency: US dollar
Pattern day trader rule: FINRA requires a minimum $25,000 equity in a margin account for accounts flagged as pattern day traders. No broker can waive it.

Brokers available to residents

Ranked under our default weights, verified August 28, 2026.

Brokers available to residents of the United States. Every figure was read from a primary source on August 28, 2026.
#	Broker & legal entity. The entity named here is the one that would hold your account. Look up its CRD number on FINRA BrokerCheck to confirm everything on this row.	Score. Editorial score out of 10, from four sourced criteria weighted as shown above this table. Not a user rating.	Pillar profile. The four sub-scores behind the total. Two brokers can share a total and reach it very differently — this column is where that shows.	Stock / ETF. Online commission on US-listed stocks and ETFs. Over-the-counter and non-listed products are frequently priced separately.	Options / contract. Per-contract fee to open one equity option. Some firms charge per side, which doubles the cost of a round trip.	Account types. How many of the twelve account types we track this broker publishes.
1	Interactive BrokersINTERACTIVE BROKERS LLC · CRD 36418 · SEC 8-47257Widest product range	9.0/10Strong	99108	IBKR Lite $0; IBKR Pro from $0.0035/share (tiered) or $0.005/share (fixed)Pro minimum $0.35 (tiered) or $1.00 (fixed) per order, capped at 1% of trade value	$0.65 per contractIBKR Lite, first 1,000 US contracts a month. IBKR Pro tiered: $0.25 under $0.05 premium, $0.50 under $0.10, $0.65 above. Minimum $1.00 per order either way	8/12	Visit Interactive Brokers Read review
2	FidelityFIDELITY BROKERAGE SERVICES LLC · CRD 7784 · SEC 8-23292Most account types	9.0/10Strong	99810	$0Online US stocks and ETFs	$0.65	12/12	Visit Fidelity Read review
3	Charles SchwabCHARLES SCHWAB & CO., INC. · CRD 5393 · SEC 8-16514	8.7/10Strong	9899	$0Online listed stocks and ETFs	$0.65	10/12	Visit Charles Schwab Read review
4	E*TRADE from Morgan StanleyMORGAN STANLEY · CRD 149777 · SEC 8-68191	8.2/10Solid	8889	$0Stocks, options base, mutual funds and ETFs	$0.65$0.50 with 30+ trades per quarter	10/12	Visit E*TRADE from Morgan Stanley Read review
5	Merrill Edge Self-DirectedMERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED · CRD 7691 · SEC 8-7221	7.6/10Solid	9768	$0Online, no trade or balance minimums	$0.65	10/12	Visit Merrill Edge Self-Directed Read review
6	tastytradeTASTYTRADE, INC. · CRD 277027 · SEC 8-69649Cheapest large multi-leg options orders	7.4/10Mixed	8876	$0Opening and closing	$1.00 to open, $0 to closeEquity options capped at $10 per leg. Index options $1 to open, $0 to close	7/12	Visit tastytrade Read review
7	VanguardVANGUARD MARKETING CORPORATION · CRD 7452 · SEC 8-21570	7.3/10Mixed	9668	$0Online	$1.00Under $1m qualifying assets. $0 for the first 25 trades at $1m–$5m; first 100 at $5m+	11/12	Visit Vanguard Read review
8	PublicOPEN TO THE PUBLIC INVESTING, INC. · CRD 127818 · SEC 8-66049	7.0/10Mixed	8865	$0US-listed stocks and ETFs in regular hours. Extended hours and OTC are $2.99 per trade unless you hold Premium	$0Stock and ETF options. Index options $0.50 per contract, or $0.35 with Premium	4/12	Visit Public Read review
9	WebullWEBULL FINANCIAL LLC · CRD 289063 · SEC 8-69978	7.0/10Mixed	7965	$0US-listed securities	$0Standard contracts. $0.50 on certain index options, $0.10 on oversized option orders	5/12	Visit Webull Read review
10	TradeStationTRADESTATION SECURITIES, INC. · CRD 39473 · SEC 8-48711	6.8/10Mixed	8676	$0 per shareDirect routing adds $0.0032–$0.0048 per share by volume tier	$0.50–$0.80 per contract per sideSingle-leg, by volume tier. Multi-leg $0.25–$0.40 per contract per side	6/12	Visit TradeStation Read review
11	RobinhoodROBINHOOD FINANCIAL, LLC · CRD 165998 · SEC 8-69188Lowest options contract fee	6.4/10Limited	6865	$0Commission-free stocks, ETFs and their options	$0.04Equity options. Index options $0.35 for Robinhood Gold, $0.50 otherwise	4/12	Visit Robinhood Read review
12	eToro (US)ETORO USA SECURITIES INC. · CRD 298361 · SEC 8-70212	6.1/10Limited	7853	$0Zero commission to buy or sell a stock	$0US users. Non-US users are charged $0.50 per contract	1/12	Visit eToro (US)Read review

Rank 1 of 12
Interactive Brokers
CRD 36418 · SIPC member
Widest product range
9.0
Strong
- Safety and regulation9
- Fees and total cost9
- Investment selection10
- Account types and features8
Account minimum
$0No account minimums
Stock / ETF
IBKR Lite $0; IBKR Pro from $0.0035/share (tiered) or $0.005/share (fixed)Pro minimum $0.35 (tiered) or $1.00 (fixed) per order, capped at 1% of trade value
Options / contract
$0.65 per contractIBKR Lite, first 1,000 US contracts a month. IBKR Pro tiered: $0.25 under $0.05 premium, $0.50 under $0.10, $0.65 above. Minimum $1.00 per order either way
Account types
8/12
Visit Interactive Brokers Full review →
Rank 2 of 12
Fidelity
CRD 7784 · SIPC member
Most account types
9.0
Strong
- Safety and regulation9
- Fees and total cost9
- Investment selection8
- Account types and features10
Account minimum
$0No minimums to open an account
Stock / ETF
$0Online US stocks and ETFs
Options / contract
$0.65
Account types
12/12
Visit Fidelity Full review →
Rank 3 of 12
Charles Schwab
CRD 5393 · SIPC member
8.7
Strong
- Safety and regulation9
- Fees and total cost8
- Investment selection9
- Account types and features9
Account minimum
$0$0 account minimum, $0 opening and maintenance
Stock / ETF
$0Online listed stocks and ETFs
Options / contract
$0.65
Account types
10/12
Visit Charles Schwab Full review →
Rank 4 of 12
E*TRADE from Morgan Stanley
CRD 149777 · SIPC member
8.2
Solid
- Safety and regulation8
- Fees and total cost8
- Investment selection8
- Account types and features9
Account minimum
Not verified
Stock / ETF
$0Stocks, options base, mutual funds and ETFs
Options / contract
$0.65$0.50 with 30+ trades per quarter
Account types
10/12
Visit E*TRADE from Morgan Stanley Full review →
Rank 5 of 12
Merrill Edge Self-Directed
CRD 7691 · SIPC member
7.6
Solid
- Safety and regulation9
- Fees and total cost7
- Investment selection6
- Account types and features8
Account minimum
$0No minimum for general investing accounts
Stock / ETF
$0Online, no trade or balance minimums
Options / contract
$0.65
Account types
10/12
Visit Merrill Edge Self-Directed Full review →
Rank 6 of 12
tastytrade
CRD 277027 · SIPC member
Cheapest large multi-leg options orders
7.4
Mixed
- Safety and regulation8
- Fees and total cost8
- Investment selection7
- Account types and features6
Account minimum
Not verified
Stock / ETF
$0Opening and closing
Options / contract
$1.00 to open, $0 to closeEquity options capped at $10 per leg. Index options $1 to open, $0 to close
Account types
7/12
Visit tastytrade Full review →
Rank 7 of 12
Vanguard
CRD 7452 · SIPC member
7.3
Mixed
- Safety and regulation9
- Fees and total cost6
- Investment selection6
- Account types and features8
Account minimum
Not verified
Stock / ETF
$0Online
Options / contract
$1.00Under $1m qualifying assets. $0 for the first 25 trades at $1m–$5m; first 100 at $5m+
Account types
11/12
Visit Vanguard Full review →
Rank 8 of 12
Public
CRD 127818 · SIPC member
7.0
Mixed
- Safety and regulation8
- Fees and total cost8
- Investment selection6
- Account types and features5
Account minimum
Not verified
Stock / ETF
$0US-listed stocks and ETFs in regular hours. Extended hours and OTC are $2.99 per trade unless you hold Premium
Options / contract
$0Stock and ETF options. Index options $0.50 per contract, or $0.35 with Premium
Account types
4/12
Visit Public Full review →
Rank 9 of 12
Webull
CRD 289063 · SIPC member
7.0
Mixed
- Safety and regulation7
- Fees and total cost9
- Investment selection6
- Account types and features5
Account minimum
$0No deposit minimum stated in the fee schedule
Stock / ETF
$0US-listed securities
Options / contract
$0Standard contracts. $0.50 on certain index options, $0.10 on oversized option orders
Account types
5/12
Visit Webull Full review →
Rank 10 of 12
TradeStation
CRD 39473 · SIPC member
6.8
Mixed
- Safety and regulation8
- Fees and total cost6
- Investment selection7
- Account types and features6
Account minimum
$2,000Stated as the minimum to open and maintain a margin position; no cash-account opening minimum published
Stock / ETF
$0 per shareDirect routing adds $0.0032–$0.0048 per share by volume tier
Options / contract
$0.50–$0.80 per contract per sideSingle-leg, by volume tier. Multi-leg $0.25–$0.40 per contract per side
Account types
6/12
Visit TradeStation Full review →
Rank 11 of 12
Robinhood
CRD 165998 · SIPC member
Lowest options contract fee
6.4
Limited
- Safety and regulation6
- Fees and total cost8
- Investment selection6
- Account types and features5
Account minimum
$0No fees to open or maintain an account
Stock / ETF
$0Commission-free stocks, ETFs and their options
Options / contract
$0.04Equity options. Index options $0.35 for Robinhood Gold, $0.50 otherwise
Account types
4/12
Visit Robinhood Full review →
Rank 12 of 12
eToro (US)
CRD 298361 · SIPC member
6.1
Limited
- Safety and regulation7
- Fees and total cost8
- Investment selection5
- Account types and features3
Account minimum
Not verified
Stock / ETF
$0Zero commission to buy or sell a stock
Options / contract
$0US users. Non-US users are charged $0.50 per contract
Account types
1/12
Visit eToro (US)Full review →

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Risk warning

Investing involves risk, including the possible loss of principal. Nothing on this site is personalized investment advice, a recommendation to buy or sell any security, or a solicitation. Figures are read from public sources on the dates shown and can change without notice — verify anything you intend to act on with the provider directly. Read the full risk disclosure.