Picking an online brokerage used to be about who charged the least per trade. Now almost every major broker charges $0 to buy US stocks and ETFs, so the real differences are elsewhere: options fees, research, app quality, what you can actually invest in, and how much the broker pays on your idle cash.

This list covers ten established online brokerages worth considering for 2027. Some are better suited to long-term investors, while others focus on active trading. We’ve included a quick comparison and the main features worth looking at before choosing a brokerage account.

Fees and features were checked in November 2026 and can change. Always confirm the latest pricing on the broker’s own site before you open an account. This article is for information only and isn’t investment advice.

Best Online Brokerages at a Glance

Broker	Best for
Fidelity	Long-term investors who want everything in one place
Charles Schwab	Research and the thinkorswim platform
Interactive Brokers	Trading on international markets
E*TRADE from Morgan Stanley	Options traders who want strong tools
Vanguard	Low-cost index fund investing
Merrill Edge	Bank of America customers
Robinhood	First-time investors on mobile
Webull	Active traders who want paper trading
Public	Mixing stocks, bonds and crypto in one app
Moomoo	Charts and market data in a single app

The 10 Best Online Brokerages for 2027

1. Fidelity: Best All-Round Broker for Long-Term Investors

Fidelity is the kind of broker account most people can open and never outgrow. You get $0 online trades on US stocks and ETFs, no account minimum, fractional shares and a huge choice of mutual funds, including its own zero-expense-ratio index funds. Research is detailed, and the bond desk is one of the better ones for buying Treasuries and CDs.

Good to know: retirement, custodial and cash management accounts all sit under one login.
Drawbacks: no futures trading, and active traders may find the platform less polished than Schwab’s thinkorswim.

2. Charles Schwab: Best for Research and Advanced Tools

Schwab combines a beginner-friendly app with thinkorswim, a platform serious traders rate highly for charting and options analysis. Stocks, ETFs and options trade online at $0 commission, with options at $0.65 per contract. There’s 24-hour trading on a selection of stocks and ETFs five days a week, plus a deep library of education.

Good to know: Schwab Stock Slices let you buy fractional shares of S&P 500 companies.
Drawbacks: no spot crypto, and the rate on uninvested cash is low unless you move it into a money market fund.

3. Interactive Brokers: Best for Global Market Access

If you want to buy shares listed in London, Tokyo or Frankfurt from one account, Interactive Brokers is hard to beat. It reaches more than 170 markets worldwide, and its margin rates are among the lowest you’ll find. The IBKR Lite plan offers commission-free trading on eligible US-listed stocks and ETFs for qualifying customers, while IBKR Pro uses a separate pricing structure for active traders.

Good to know: PortfolioAnalyst tracks performance and risk across accounts, even ones held elsewhere.
Drawbacks: Trader Workstation has a steep learning curve, and newer investors can feel lost.

**4. E*TRADE from Morgan Stanley: Best for Options Traders**

E*TRADE has been around since the early days of online trading, and it shows in its tools. Power E*TRADE gives options traders risk visualization, strategy builders and live analysis, and customers get access to Morgan Stanley research. Stock and ETF trades are $0, and options are $0.65 per contract.

Good to know: a solid bond resource center and a choice of web, desktop and mobile platforms.
Drawbacks: base margin rates are high, and there are no fractional shares on individual stocks.

5. Vanguard: Best for Low-Cost Index Fund Investors

Vanguard isn’t built for trading. It’s built for buying low-cost funds and holding them for decades, which is exactly why so many retirement savers use it. Stock and ETF trades are $0, and Vanguard’s own funds are among the cheapest available.

Good to know: the $25 annual account fee is waived if you opt into e-delivery of documents.
Drawbacks: options cost $1 per contract for most investors, and the tools are basic compared with other brokers on this list.

6. Merrill Edge: Best for Bank of America Customers

If you already bank with Bank of America, Merrill Edge makes a lot of sense. Your checking, savings and investments sit side by side, and larger combined balances can unlock Preferred Rewards perks across both. Online stock, ETF and options trades are $0 commission, with options at $0.65 per contract, and the research is well organized for everyday investors.

Good to know: the Options Strategy Assistant walks you through trades step by step.
Drawbacks: no crypto, futures or fractional shares.

7. Robinhood: Best for First-Time Investors

Robinhood made $0 trading mainstream, and its app is still one of the easiest to use. Stocks, ETFs and options are all commission-free, and the Robinhood Legend desktop platform now gives more experienced traders proper charting. Robinhood Gold costs $5 per month and offers additional benefits, including higher interest on eligible cash and a 3% match on qualifying annual IRA contributions, compared with 1% without Gold. Conditions apply.

Good to know: 24-hour trading on selected stocks and access to futures.
Drawbacks: no mutual funds or individual bonds, and limited account types for trusts or custodial accounts.

8. Webull: Best for Active Traders Who Want Practice

Webull is designed for investors who prefer detailed charts and active trading tools. It offers commission-free trading on eligible US stocks, ETFs and options, along with extended-hours trading and a paper trading account where users can practise without risking real money. Certain options trades and regulatory fees may still carry charges.

Crypto trading is also available through the platform.

Good to know: Replay Mode lets you rewind a trading day and practice on it.
Drawbacks: no human financial advice, and fewer account types than the big full-service firms.

9. Public: Best for Building a Mixed Portfolio in One App

Public lets you hold stocks, ETFs, Treasuries, bonds and crypto side by side, which few brokers manage this cleanly. Public offers commission-free stock and ETF trading and eligible stock and ETF options trades. Options rebates are available under its rewards programme, while index options have separate charges.

Good to know: an optional Premium plan removes fees on after-hours and OTC trades.
Drawbacks: no mutual funds or futures, and crypto trades carry their own fees.

10. Moomoo: Best for Charts and Market Data

Moomoo packs a surprising amount of professional-grade data into a free app: real-time quotes, detailed charting, institutional holdings and news from several providers. Eligible US customers can trade US stocks and ETFs without commissions. Moomoo also offers $0 contract fees on eligible equity options, although index options and other transactions may carry charges.

Good to know: extended trading hours run from early morning to evening Eastern Time.
Drawbacks: no IRA accounts at the time of writing, no mutual funds, and the busy interface can overwhelm beginners.

What Is an Online Brokerage Account?

An online brokerage account provides you with the capability to transact in investments using either an app or a website. Depending on the trading firm, one can invest in any of the instruments such as stocks, ETFS, bonds, mutual funds, etc. Unlike in the case of a savings account, the value of investments can be varying. There are different types of accounts available, such as individual accounts, joint accounts, and retirement accounts.

How to Choose the Right Online Brokerage

Since zero-commission trading has become common practice, it has become important to compare brokers based on factors that incur actual expenses.

The first point of comparison is what you want to invest in. If you are interested in mutuals, companies like Fidelity, Schwab and Vanguard will be able to provide more options than mobile and app-based banks. If you prefer cryptocurrencies or shares from international markets, it will be a completely different situation, and the list will be entirely different.
The second issue is frequency of trades. Long-term investors pay attention to mutual fund expenses and the range of features offered by their trading accounts. Those who trade frequently must consider commissions on options and margin expenses.
The third issue is the software environment. Try out a sample platform before committing to a particular broker. If you do not like the program, it will cost you more than paying for fees.
The fourth issue is the treatment of cash and margin interest rates. The money lying on account without being invested will bring you a variety of returns, depending on a broker.

How We Chose These Brokers

This list is based on publicly available information about trading fees, investment choices, account features and platform tools.

The brokers are included for different investing needs, rather than ranked by investment returns. Features and pricing may change, so check the latest details before opening an account.

Conclusion

There’s no single best online brokerage account for everyone. Fidelity, Schwab and Vanguard are worth considering for long-term investing, while E*TRADE, Interactive Brokers and Webull offer tools that may appeal to active traders. For investors who prefer mobile platforms, Robinhood, Public and Moomoo are also worth exploring.

Work out what you’ll invest in and how often you’ll trade, then compare the two or three brokers that fit. Check the brokerage services you might need later, such as advice or retirement planning, so you don’t have to switch firms down the line. Before opening an account, check the broker’s latest fees, account requirements and available services to make sure it suits your investing needs.

Frequently Asked Questions

1. Can I Transfer My Investments to Another Online Brokerage Without Selling Them?

In many cases, yes. Eligible stocks, ETFs and other investments can be moved between brokerage firms through an account transfer. Some assets, including fractional shares, may need to be sold instead. Check for transfer fees before switching.

2. Can I Have Brokerage Accounts With More Than One Broker?

Yes. You can keep accounts with different brokerage firms, whether for retirement savings, long-term investments or active trading. Just keep track of your holdings, fees and tax records across those accounts.

3. Can I Open a US Online Brokerage Account if I Live Outside the US?

It depends on your country of residence and the brokerage. Some firms mainly serve US residents, while Interactive Brokers accepts eligible customers from many countries. Always check account availability, fees and investment restrictions before applying.

4. What Happens if an Online Brokerage Shuts Down?

If a US brokerage firm fails, eligible customers may receive protection through the Securities Investor Protection Corporation (SIPC), up to $500,000, including a $250,000 limit for cash. SIPC helps recover missing assets but does not cover investment losses caused by market movements.