Fidelity
Best all-around beginner brokerage — no minimums, no fees
Fidelity has no account minimums, $0 commissions, zero-expense-ratio index funds, and hands-down the best customer service in the industry. Call them at 2am — a real person answers. The safest, smartest choice for first-time investors.
Pros
- No minimums ever
- FZROX/FXAIX at 0% expense ratio
- Excellent educational content
- Fractional shares available
- Physical branch locations
Cons
- Website complexity can overwhelm beginners
- Options interface takes learning
- Crypto limited
Charles Schwab
Best for future retirement accounts
Schwab has no minimums, $0 commissions, and the best retirement account ecosystem. If you plan to open an IRA alongside your brokerage account (you should), Schwab makes managing both seamless. 24/7 customer service included.
Pros
- Seamless IRA + taxable account
- Free robo-advisor option
- Excellent retirement planning tools
- 24/7 customer service
- Schwab Intelligent Portfolios is free
Cons
- Slightly less polished mobile app
- Some mutual fund transaction fees
- Interface can feel dated
Robinhood
Best for absolute simplicity
If you just want to buy your first shares of Apple or an S&P 500 ETF with the least possible friction, Robinhood's interface is unmatched for simplicity. Fractional shares from $1, zero commissions, and crypto alongside stocks.
Pros
- Simplest interface in the industry
- Fractional shares from $1
- Stocks + ETFs + options + crypto
- Instant deposits up to $1,000
- Robinhood Gold adds research
Cons
- Limited research tools
- Payment for order flow
- Customer support can be slow
- No physical locations
Open a Roth IRA alongside your brokerage
Your brokerage account (taxable) and a Roth IRA are not the same thing. A Roth IRA lets the same investments grow completely tax-free. If you qualify (income under ~$150k single), open both — the Roth IRA is almost always the better account for long-term investing.
| Broker | Min | Commissions | Fractional Shares | Best Feature |
|---|---|---|---|---|
| Fidelity | $0 | $0 | Yes, from $1 | Research + service |
| Schwab | $0 | $0 | Yes, via Schwab Stock Slices | Retirement ecosystem |
| Robinhood | $0 | $0 | Yes, from $1 | Simplest interface |
| Webull | $0 | $0 | Yes | Advanced charting |
| M1 Finance | $100 | $0 | Yes, automatic | Automated pie investing |
| SoFi Invest | $0 | $0 | Yes | Banking + investing bundle |
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