- M1 Finance is a free finance app allowing you to invest, borrow, and spend in one platform.
- $0 account minimum. 100% commission-free trades and no hidden fees.
- SoFi Active Investing allows you to buy and sell stocks, fractional shares, and ETFs.
- No commission trades no account minimums.
SoFi Invest promo: Fund your account with $100 and get $25 in stock.
- Public.com enables you to invest in stocks and funds, commission-free through an easy-to-use mobile interface.
- Community features allow you to follow friends and expert investors, share insights, and interact.
- No account minimums. Buy and sell fractional shares.
Promotion: Get a $10 share of stock for new signups.
- Stash Invest is a robust financial app to start and grow your investments in stocks, ETFs, and fractional shares for as little as $1.
- Get investment and banking features to help you achieve your investing goals.
Stash Promotion: Get $20 for signing up and adding cash.
- Stockpile is an online brokerage enabling investors to buy and sell stocks or fractional shares of stocks, ETFs, ADRs, and every stock in the S&P 500.
- Open an individual brokerage or custodial account (under 18 years old).
Frequently Asked Questions
What Online Brokerage Account Should I Choose?
The best type of online brokerage accounts for you depends on your financial goals. For example, if your goal is retirement, focus on tax-advantage accounts like IRAs. You’ll then need to open an account with an online broker that offers them. Learn more about the differences between stock trading and Robo-advisor platforms.
How Much Money Do I Need to Open an Online Brokerage Account?
Depending on the online broker, you’ll have a range of account minimums that range from $0 to several thousand dollars.
Can I open accounts with more than one online brokerage firm?
In short, yes, you can open a brokerage account with as many online brokers as you’d like. However, It’s not necessary to do so. Focus on simplicity and investing strategy as opposed to managing multiple brokerage accounts.
What You Need to Know about Online Brokerage Accounts
Whether you’re planning to actively trade stocks or passively invest in low-cost index funds or get the help of Robo-advisors, you’ll need a brokerage account.
As you decide which online broker to use, consider your investment strategy, as it’ll help inform which platform is best. Look for a platform that offers everything you need in one place. For example, it provides taxable accounts and retirement accounts. And access to different investment types like stocks, ETFs, bonds, commodities, options, or more.