• Webull Stock Trading / $0 Commission and No Minimum

    Brand:Webull
    02
    • Webull is a zero-commission online brokerage to trade stocks, fractional shares, ETFs, and options trading.
    • Full-extended hours trading, free real-time quotes, and community forum.
    • $0 minimum balance. Invest with as little as $5.

    Promotion: Receive 2 FREE stocks. Open an account and make an initial deposit of any amount.

  • Robinhood / Commission-Free Stock Trading and Investing

    Brand:Robinhood
    01
    • Robinhood Invest offers 100% commission-free trades of stock, ETF, fractional shares, options, and cryptocurrency.
    • $0 account minimum with no monthly account fees.

    Promo: Get 1 FREE Stock with account opening. No deposit is required.

  • SoFi Active Investing / Invest Starting with $5 – Stocks, ETFs

    Brand:SoFi
    • 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 / Invest in Stocks and Engage in Community

    Brand:Public
    02
    • 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.

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.

Finally, understand your risk tolerance, investment goal, and time horizon. If this sounds overwhelming, then consider a Robo-advisor.

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