After testing 15+ brokerages, here are our top picks for beginners. All charge $0 commissions on stocks and ETFs and have no account minimum. The best choice depends on your specific needs.
Phone availability, response times, quality of support
Account Types
10%
IRA availability, 401k rollover, joint accounts, custodial accounts
💡 Our #1 Pick: Fidelity
Fidelity wins for most investors because it combines $0 commissions, no account minimum, zero-expense-ratio index funds, best-in-class research tools, and 24/7 customer service. It's the only brokerage that excels in every category.
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₿ Want to Add Crypto to Your Portfolio?
Traditional brokerages handle stocks and ETFs well, but for crypto you'll want a dedicated exchange. Coinbase is the most regulated, beginner-friendly crypto exchange in the US — 250+ coins, FDIC-insured USD balances, and no minimum deposit.
Fidelity is our top pick for most beginners. It has no account minimum, $0 commissions, excellent educational resources, and the best customer service in the industry. If you want the absolute simplest experience, Robinhood's app is more intuitive but lacks retirement accounts and research tools.
Most top brokerages have no account minimum — you can open an account with $0. Fidelity, Schwab, Robinhood, Webull, and SoFi all have no minimum. You can start investing with as little as $1 using fractional shares at Fidelity or Robinhood.
All of our top picks are SIPC members, which protects your securities up to $500,000 (including $250,000 in cash) if the brokerage fails. Note that SIPC does not protect against investment losses — only against brokerage failure. Your investments can still lose value.
If you're investing for retirement and your income qualifies, open a Roth IRA first. Roth IRA contributions grow tax-free and withdrawals in retirement are tax-free. Once you've maxed your Roth IRA ($7,000/year in 2026), open a regular taxable brokerage account for additional investing.
Focus on the Annual Percentage Rate (APR), which includes both interest and fees. Compare minimum credit score requirements, funding speed, loan amounts, and repayment terms. Read recent customer reviews on Trustpilot and the BBB. Getting pre-qualified lets you see real personalized offers.
The interest rate is the base cost of borrowing. APR (Annual Percentage Rate) includes the interest rate plus all fees (origination fees, closing costs, etc.), expressed as a yearly rate. APR gives you a more complete picture of the true cost of a loan — always compare APRs, not just interest rates.
Credit scores have a dramatic impact on rates. On a $20,000 personal loan, the difference between a 720 score (8% APR) and a 580 score (25% APR) is over $9,000 in additional interest over 5 years. Improving your score before applying can save thousands.
Reputable online lenders use bank-level encryption (256-bit SSL) to protect your data. Look for HTTPS in the URL, check that the lender is registered in your state, verify their BBB rating, and read privacy policies before submitting personal information. Avoid lenders who contact you unsolicited.
Fidelity Investments
Charles Schwab
Robinhood
SoFi Invest
Acorns