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Best Brokerage Accounts for Beginners: Our 7 Top Picks of 2025

Published Jan. 10, 2025
Brendan Byrnes
Author: Brendan Byrnes
Brendan Byrnes
Brendan Byrnes

Currently Managing Director of Motley Fool Money, Brendan has worked full-time for The Motley Fool since 2011. He has written hundreds of articles for The Motley Fool and provided analysis on TV outlets including CNBC and Fox. He holds a degree in finance from Virginia Tech.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

Embarking on your investing journey can feel daunting -- we get it. At The Motley Fool, we've been covering investing for over 30 years, so we understand how overwhelming it can feel to navigate the complexities.

The good news? A solid brokerage account can make all the difference. The best brokerage accounts for beginners have user-friendly platforms, educational tools, no fees, and the ability to buy fractional shares so you can start with even just a few dollars.

To help you get started, we've reviewed over 45 brokers to find the best beginner options, with many folks on our team actual users of these platforms themselves.

Explore our top-rated beginner-friendly platforms below to find the one that fits your needs.

  • Our team of experts assessed 45+ trading platforms
  • We evaluate all brokerage accounts across the same 4 key criteria: user experience, cost efficiency, product variety, and support and security
  • Our brokerage ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Our 7 best trading platforms for beginners

Broker/Advisor Best For Commissions Learn More
SoFi Active Investing Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best For:

Best for all-in-one financial app

 Commission:

$0 for stocks,¹ $0 for options contracts⁴
Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Award Icon 2025 Award Winner
Robinhood Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best For:

Best app for ease of use

 Commission:

$0 for stocks, ETFs, and options; up to $5 monthly for Robinhood Gold
Learn More for Robinhood

On Robinhood's Secure Website.

Award Icon 2025 Award Winner
E*TRADE Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best For:

Best app with educational resources

 Commission:

Commission-free; other fees apply
Learn More for E*TRADE

On E*TRADE's Secure Website.

J.P. Morgan Self-Directed Investing Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best For:

Best app with no mutual fund commissions

 Commission:

$0 per trade
Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

Fidelity Offer Image
Rating image, 5.0 out of 5 stars.
5.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Rating image, 5.0 out of 5 stars.
5.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Best For:

Best app with physical branch locations

 Commission:

$0 commission for online U.S. stock and ETF trades. No fees to buy fractional shares.
Read Review
Charles Schwab Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best For:

Best for retirement investors

 Commission:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
Read Review
Award Icon 2025 Award Winner
Vanguard Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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Best For:

Best for low-cost index investing

 Commission:

$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)
Read Review

  • As you compare options, keep in mind how well a brokerage aligns with your long-term financial goals and whether it can grow with you as you gain experience.

    1. Trust and brand recognition

    The most important factor when choosing a brokerage is trust. After all, no amount of savings on fees matters if your money isn't in a secure and reliable place. Every brokerage on our list has been thoroughly vetted and is SIPC insured, providing coverage for up to $500,000.

    When assessing trustworthiness, consider brands you already know -- especially if you bank with them, as they may offer seamless integration. If in-person assistance is important to you, focus on brokerages with physical branches.

    2. Platform usability

    The platform's usability can make or break your experience. A well-designed platform should be intuitive, modern, and easy to navigate -- especially for beginners. While some platforms are sleek and app-focused (e.g., Robinhood), others cater more to desktop users.

    Consider how you'll primarily interact with your account. For instance, while I use my brokerage's app to monitor my investments, I prefer the desktop version for executing trades. If you're a beginner, features like customizable charts, trade simulators, or advisory tools can be invaluable in helping you learn and make informed decisions.

    3. Fees

    The best beginner brokerages prioritize affordability by eliminating trading fees and monthly account fees. It's 2025 -- you shouldn't have to pay just to let your money work for you.

    One standout feature to look for is fractional share trading, which allows you to invest with small amounts of money. This flexibility is especially helpful for beginners, enabling you to invest in high-value stocks without needing to buy full shares.

    4. Investment options

    Diverse investment options are essential, particularly for beginners. Ensure the brokerage supports stock trades and mutual funds or ETFs, as these are the most common starting points for new investors.

    Looking ahead, consider whether the account can accommodate your evolving strategies. Does it support more advanced features like options trading? Can you open specialized accounts, such as IRAs or custodial accounts, as your needs grow? A scalable platform will save you the hassle of switching brokerages down the road.

    5. Educational resources

    Finally, prioritize brokerages with robust educational resources. Investing can be daunting, but access to tutorials, articles, and webinars directly within the platform can help you build confidence and skills faster.

    Look for platforms that offer beginner-friendly guides, explain financial concepts in plain language, and provide tools to simulate trades or practice strategies. A solid educational foundation will set you up for long-term success.

In-depth reviews of the top online stock brokers for beginners

Best for all-in-one financial app: SoFi

SoFi Active Investing
Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Ratings Methodology
SoFi Active Investing

SoFi Active Investing

Learn More

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Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Bottom Line

A clear standout with a modern experience. Beginners and long-term investors may find the most value, particularly those interested in stocks and ETFs, and in buying fractional shares.³

Fees:

$0 for stocks,¹ $0 for options contracts⁴

Account Minimum:

$0

Special Offer Circle with letter I in it. For new accounts: Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.

Get up to $1,000 in stock when you fund a new Active Invest account.⁷

Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Trust and brand reputation

SoFi, widely known for its student loans and banking services, also offers a trustworthy and reliable brokerage account. If you're already a SoFi banking customer, adding a brokerage account can simplify your financial management.

However, keep in mind that SoFi is an online-only platform, so its customer service experience is crucial. While phone support is unavailable on weekends, they make up for it with 24/7 chat support, which can be a lifesaver when you need quick assistance.

Platform

SoFi's platform is one of the simplest that we've found. While it lacks the advanced features of some competitors, its streamlined design makes it ideal for beginners who want a no-frills experience. If your primary focus is straightforward stock and ETF investing, SoFi provides everything you need without unnecessary complexity.

Fees

SoFi has no commission fees for stocks or options, no account minimums, and no annual fees.¹ This makes it an excellent choice for beginners who want to maximize their investments without worrying about commissions.

That said, there are some fees to be aware of: a $25 inactivity fee per account for 12 months of login inactivity and a $100 fee for full or partial outgoing transfers. These charges are notably higher than what many other brokerages on this list impose, so consider whether these fees might impact your plans.

Investment options

SoFi offers a well-rounded selection of investment options. You can choose between self-directed trading and automated robo-advising services. In addition to trading stocks and ETFs, SoFi allows you to invest in IPOs at IPO prices -- an uncommon feature that sets it apart. Fractional share trading is also available, which is perfect for beginners looking to start small and diversify their portfolio without significant upfront costs.³

Educational resources

SoFi shines in the educational department with its SoFi Learn section, a comprehensive guide to financial literacy. This resource doesn't just cover investing basics -- it also provides insights into credit cards, insurance, budgeting, home buying, and more. As our pick for Best All-In-One Financial App, it offers far beyond investing.

Another standout feature is access to financial planners at no additional cost, a fantastic benefit for beginners who may need personalized guidance.⁵ These planners can help create a holistic financial plan that goes beyond investing, covering all aspects of your financial health.

Best app for ease of use: Robinhood

Robinhood
Learn More for Robinhood

On Robinhood's Secure Website.

Ratings Methodology
Award Icon 2025 Award Winner
Robinhood

Robinhood

Learn More

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Bottom Line

Simple-to-use investing experience and commission-free trading make Robinhood one of the best stock brokers for beginner investors, and Robinhood delivers on all these fronts, and more.

Fees:

$0 for stocks, ETFs, and options; up to $5 monthly for Robinhood Gold

Account Minimum:

$0

Learn More for Robinhood

On Robinhood's Secure Website.

Trust and brand reputation

Robinhood revolutionized the investing world by popularizing commission-free trading, attracting younger, tech-savvy investors with its intuitive and accessible app. However, the platform faced criticism in 2020 due to system outages during periods of market volatility and in 2021 for freezing trades on GameStop during the stock's highly publicized rally.

Since then, Robinhood has worked to rebuild its reputation, addressing past issues and enhancing its platform. With over 10 million users now relying on Robinhood as their primary brokerage, it remains a popular choice for beginner investors seeking a straightforward entry point into the market.

Platform

Robinhood is renowned for its simple, beginner-friendly app, which makes navigating and managing investments easy. In October 2024, the company introduced Robinhood Legend, a desktop platform designed for advanced traders. This addition gives users room to grow by offering access to enhanced charting tools, technical indicators, and other advanced features, while retaining the app's hallmark simplicity for beginners.

This dual approach ensures that Robinhood accommodates both novice investors and those looking to expand their trading capabilities.

Fees

Robinhood led the way in commission-free trading, making it an excellent platform for new investors who want to start trading without worrying about fees eating into their gains. There are no account minimums or annual fees, further cementing its reputation as an affordable option. There is a $100 fee to transfer from Robinhood to an outside brokerage.

Investment options

Robinhood focuses on the essentials, allowing users to invest in stocks and ETFs. Fractional share trading is a standout feature, enabling users to buy into high-value stocks for as little as $1.

However, Robinhood's investment options are limited compared to some competitors. The platform does not offer mutual funds or many alternative investments. If these are important to your strategy, you might consider other brokers like Charles Schwab or Fidelity, which provide more diverse offerings.

Educational resources

Robinhood offers an educational hub called Robinhood Learn, which provides accessible content on the basics of investing. This resource is great for beginners looking to build foundational knowledge.

That said, Robinhood's in-app research tools are relatively basic unless you upgrade to Robinhood Gold, which provides access to advanced research and data. If deep analytical tools and comprehensive research options are a priority, other platforms may better meet your needs.

Best app with educational resources: E*TRADE

E*TRADE
Learn More for E*TRADE

On E*TRADE's Secure Website.

Ratings Methodology
Award Icon 2025 Award Winner
E*TRADE

E*TRADE

Learn More

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

E*TRADE manages to cater to active traders with one of the best stock trading platforms for beginners, while also appealing to long-term investors with thousands of mutual funds and ETFs that can be traded commission-free.

Fees:

Commission-free; other fees apply

Account Minimum:

$0

Special Offer Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, depending on the size of your deposit. Offer good for one use per customer, on a single account.

Open and fund and get up to $1,000

Learn More for E*TRADE

On E*TRADE's Secure Website.

Trust and brand reputation

E*TRADE is a well-established name in the investing world, and its 2020 acquisition by Morgan Stanley has only enhanced its credibility. This partnership allows customers to access in-person support at Morgan Stanley bank locations, offering a level of service that's rare among online brokerages.

Although E*TRADE originated as a discount brokerage, it has significantly expanded its offerings. Whether you're looking for a Roth IRA, custodial account, or traditional brokerage account, E*TRADE provides a wide array of account types. Additionally, you can bank through the platform, making it a versatile choice for managing multiple financial needs.

Platform

E*TRADE caters to both beginners and advanced traders by offering two platforms: the standard E*TRADE platform and the more advanced Power E*TRADE platform.

  • The basic platform, available via web and mobile app, is straightforward and user-friendly, making it an excellent starting point for new investors.
  • The Power E*TRADE platform, on the other hand, is designed for advanced traders, with tools tailored for options trading, technical analysis, and other complex strategies.

This dual-platform approach means E*TRADE can grow with you as your investing skills develop.

Fees

E*TRADE is a strong contender in the low-fee brokerage category, offering commission-free trading for stocks and ETFs with no inactivity fees. However, there are costs associated with specific services, such as options contracts and broker-assisted trades. There's also a $75 transfer out fee if you want to move money to another brokerage.

These fees are fairly standard in the industry, but worth considering if you plan to engage in more complex trading activities.

Investment options

E*TRADE offers a comprehensive range of investment options, making it a versatile choice for investors of all levels. In addition to stocks and ETFs, it provides access to over 6,000 mutual funds and supports a wide variety of account types, including IRAs, rollovers, and robo-advisory accounts.

One notable drawback is the lack of fractional share trading, which can be a barrier for beginners with limited funds. However, E*TRADE does allow dividend reinvestment into fractional shares, which can help grow your portfolio over time.

Educational resources

E*TRADE's educational resources are robust and varied. Its online library covers a broad range of topics, from investing basics to advanced strategies. Additionally, E*TRADE hosts regular webinars, allowing users to learn directly from experts about more advanced subjects like options trading and futures.

For those who want to dive deeper into technical analysis, the Power E*TRADE platform offers advanced charting and analysis tools. While these features may not be immediately useful for beginners, they're a great resource to explore as you gain experience.

Best app with no mutual fund commissions: J.P. Morgan

J.P. Morgan Self-Directed Investing
Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

Ratings Methodology
J.P. Morgan Self-Directed Investing

J.P. Morgan Self-Directed Investing

Learn More

Double arrow

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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= Poor
Bottom Line

J.P. Morgan stands out for beginners by offering an app-based platform for both self-directed and automated investing, all with $0 commissions -- even on mutual funds, which is pretty rare. Plus, if you bank with Chase your accounts will be integrated so you can manage your money in one place.

Fees:

$0 per trade

Account Minimum:

$0

Special Offer

Earn a bonus up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account (retirement or general) with qualifying new money by 04/15/2025.

Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

Trust and brand reputation

J.P. Morgan Chase is a household name, renowned for its credit cards and banking services. This brand recognition carries over to its brokerage services, which are backed by the reliability of a firm managing billions in assets. With a vast network of in-person branches and decades of expertise in financial markets, J.P. Morgan offers a trustworthy and stable option for investors.

Whether you're just starting or looking for a well-established financial partner, J.P. Morgan's storied reputation in both banking and investing makes it a compelling choice.

Platform

J.P. Morgan's trading platform is integrated into the Chase mobile app, providing a unified experience for Chase customers. If you already bank with Chase, consolidating your financial accounts in one place can be convenient.

That said, the user interface is less intuitive than some competitors, especially for beginners or those seeking advanced tools. If your strategy is primarily buy-and-hold investing, the platform should meet your needs. However, investors requiring more sophisticated tools or a more streamlined interface might find it less accommodating.

Fees

J.P. Morgan Investing is a cost-effective choice for low-cost investors. It offers commission-free trading for stocks, ETFs, and mutual funds -- a rarity in the brokerage world. This no-commission structure makes it particularly attractive to those who want to keep investing costs to a minimum.

There is a $75 fee for full transfers, but no fee on partial transfers out of the platform.

Investment options

J.P. Morgan provides a solid array of standard investment options, including stocks, ETFs, and mutual funds. While some brokers offer more diverse or specialized investment opportunities, the inclusion of mutual funds without commissions is a notable advantage for those seeking low-cost diversification.

Beyond its brokerage services, J.P. Morgan Chase offers a wide range of financial products, including bank accounts, credit cards, and personal loans. This comprehensive suite of services makes it a one-stop shop for many financial needs.

Educational resources

J.P. Morgan clients gain access to the firm's proprietary stock research, which covers over 1,200 publicly traded companies. This level of research can be valuable for investors looking for deeper insights into potential investments.

Additionally, J.P. Morgan provides a library of educational resources designed to help clients build their investing knowledge. While not as beginner-focused as some others on this list, these materials are a strong asset for those looking to grow their financial expertise.

Best app with physical branch locations: Fidelity

Ratings Methodology
Fidelity

Fidelity

Our Rating:

Rating image, 5.0 out of 5 stars.
5.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Fidelity is one of the largest and one of the most well-rounded brokerages available in the U.S. today. Importantly, Fidelity offers $0 commissions for online stock and ETF trades, plus a high-quality mobile app, making it one of the best brokerage accounts for beginners and seasoned investors alike.

Fees:

$0 commission for online U.S. stock and ETF trades. No fees to buy fractional shares.

Account Minimum:

$0, ($1 minimum per fractional share transaction)

Read Review

Trust and brand reputation

Fidelity is a name synonymous with investing, even for those new to the market. Founded in 1946, it brings decades of expertise and a reputation for reliability. Fidelity also stands out by offering physical branches, allowing investors to meet face to face with advisors -- an invaluable feature for those who prefer in-person support.

If a trusted brand with a proven track record and robust customer service is a top priority, Fidelity is an excellent choice.

Platform

Fidelity's platform is straightforward, offering just enough information to make informed decisions without being overwhelming. While it may not have the ultra-modern aesthetics of newer platforms like Robinhood, its reliability and functionality are consistently high.

Compared to its closest competitor, Charles Schwab, Fidelity's online platform edges out with a cleaner and more user-friendly experience, making it particularly well-suited for beginners.

Fees

Fidelity is a leader in low-cost investing. It offers $0 commission trades for stocks and ETFs, and its no-transaction-fee mutual funds set it apart from many other brokerages. Plus, Fidelity is as cheap as it gets when it comes to miscellaneous expenses like closing IRA account fees and account transfer fees (both $0).

One thing to note is that Fidelity charges $49.95 for redeeming no transaction fee, non-Fidelity funds within 60 days of buying them -- so hold onto them to avoid that.

Investment options

Fidelity provides a diverse selection of investment options, including stocks, ETFs, mutual funds, and specialized accounts such as IRAs and 529 college savings plans. One of its standout features is the no-transaction-fee mutual funds, which allow you to invest with low costs and achieve broad diversification -- perfect for building a well-rounded portfolio. These options, along with the ease of access and flexibility, make Fidelity an excellent choice for beginners looking to grow their investments.

Educational resources

Fidelity excels in educational resources, offering tools like free in-depth reports from over 20 independent research firms, StarMine analyst rating analysis, and daily market insights. Its robust screeners for stocks, funds, and ETFs make it easy for investors to find opportunities tailored to their goals. These features are invaluable for beginners and seasoned investors alike.

Best for retirement investors: Charles Schwab

Ratings Methodology
Charles Schwab

Charles Schwab

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Charles Schwab has aggressively slashed fees on its mutual funds and ETFs, eliminated common account fees, and lowered its base commissions to $0 per trade, making it one of the least-expensive brokers.

Fees:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

Account Minimum:

$0

Read Review

Trust and brand reputation

Alongside Fidelity, Charles Schwab is a trusted name in investing as one of the leading brokerage firms in the U.S. Since 1971, Schwab has maintained a strong reputation for providing reliable and accessible financial services. For beginners, Schwab is a go-to choice, offering decades of expertise and stability.

Platform

While Schwab's platform may feel more traditional compared to modern apps like Robinhood or SoFi, it remains a solid and dependable option for new investors. It's not flashy, but it provides everything you need to manage your investments without unnecessary complexity, making it especially suitable for beginners who prefer a straightforward experience.

Fees

Schwab was the first big brokerage firm to cut all commissions. Yes, all of them. A pioneer in fee-free investing, you can be sure an account with Charles Schwab means a reliable low-cost investing journey.

While there are some fees up to $74.95 on mutual funds, there are thousands for free, almost guaranteeing you'll be able to find a low-cost option. There's a $50 full account transfer fee out of the platform.

Investment options

Charles Schwab offers a comprehensive range of investment options, including stocks, ETFs, mutual funds, IRAs, and more. In addition, Schwab provides checking and savings accounts, CDs, loans, and credit cards through partnerships with American Express, making it a versatile platform for investors who also want to manage their everyday finances.

Educational resources

Schwab offers all kinds of training in different learning styles: articles, videos, podcasts, and online courses. Additionally, you'll get access to daily market reports, screeners for stocks, ETFs, and funds. While there are a lot of options, it's not necessarily more than most other big-name brokers on this list. But you can rest assured if you need it, Schwab has it.

Best for low-cost index investing: Vanguard

Ratings Methodology
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Vanguard

Vanguard

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Vanguard is one of the leading options for hands-off, low-cost index investing. Vanguard offers some of the lowest cost index ETFs, plus it packs in a well-rounded feature set that is a fit for more experienced investors as well.

Fees:

$0 online; $25 broker-assisted fee for some phone trades of stocks and ETFs from other companies (Less than $1 million)

Account Minimum:

$0

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Trust and brand reputation

Vanguard is another name you've probably heard of before. Vanguard is known for offering low-cost investment options, and is especially popular for its index funds, which are great for long-term investors. Its focus on keeping fees low and putting investors first has earned it a lot of trust. If you're looking for a reliable and straightforward way to invest without paying high fees, Vanguard is a top option.

Platform

Vanguard's platform is solid, but tends to be more basic compared to some of the flashier alternatives. Optimized for desktop use, it's ideal for investors who prefer a simple, no-frills approach to managing their investments. Vanguard's focus is on long-term, passive investing, so if you're looking for advanced tools or active trading features, it may feel too minimal.

Fees

Vanguard is owned by its investors, allowing it to keep costs low -- the average expense ratio for its ETFs and mutual funds is 82% less than the industry average. It truly shines by waiving commissions for trades involving its own ETFs and mutual funds. However, it does charge fees for some ETFs and mutual funds from other companies. If you're looking to invest in a broad index fund for the long term, Vanguard offers an excellent low-cost option.

Investment options

Vanguard offers a wide range of investment products and account types, including ETFs, mutual funds, and retirement accounts like IRAs. Where it really shines is its index fund offerings.

It's worth noting that Vanguard offers fractional shares for ETFs only, not for stocks or non-Vanguard ETFs.

Educational resources

Vanguard offers in-depth research and educational materials on topics such as the economy, retirement planning, market trends, and investing strategies. Its experts provide valuable insights into stock market trends, global economies, and asset allocation, making it an excellent resource for beginners who want to build their knowledge over time.

Our brokerage rating methodology

At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

Learn more about how Motley Fool Money rates brokerage accounts.

  • Acorns, Ally Invest, Axos Self-Directed Trading, Betterment, Cash App Investing, Charles Schwab, Delphia, Domain Money, Ellevest, Empower, eToro Brokerage, E*TRADE Core Portfolios, E*TRADE, Fidelity, Fidelity Cash Management, Fidelity Go®, Firstrade, FOREX.com, Interactive Brokers, J.P. Morgan Self-Directed Investing, M1 Finance, Magnifi, Marcus Invest, Merrill Edge® Self-Directed, Moomoo, NinjaTrader, Personal Capital, Plynk, Prosperi Academy, Public, Robinhood, Rocket Dollar, Schwab Intelligent Portfolios, SoFi Active Investing, SoFi Robo Investing, Stash, Stockpile, tastytrade, Titan, Tornado App, TradeStation, Tradier, Vanguard, Vanguard Digital Advisor®, Wealthfront, Webull, Zacks Trade.

FAQs

  • Many beginner brokerage accounts offer commission-free trading and no account maintenance fees, but some may charge for certain transactions or advanced services.

  • Yes, many beginner brokerage accounts allow you to start with as little as $1, especially if they offer fractional share investing.