Top low-fee brokers compared

About Top low-fee brokers compared

Low-fee brokers sit at the point where what you pay per trade stops being the deciding factor. Across 11 brands here, the account fee, the stock trade fee and the inactivity fee all read €0, €0 and €0, so those columns no longer separate one brand from another. What does separate them is the money side of the account and the way the account works. Minimum deposits run €0 to €23.24 in this group, against a wider site median of €4.64. Some brokers clear transfers for nothing, others do not. Some hold your cash under a named regulator with a stated compensation scheme, others sit with a different cover level. Options pricing, forex spreads and leverage differ sharply too, and for the two brands with retail loss data, the share of accounts losing money runs from 65% to 66.43%. The ranking weighs cost at 35%, trust at 40% and the offer at 25%, so cheapness alone does not carry a brand to the top.

How we picked

Every brand in this ranking is scored on three things. Cost carries a weight of 35% and covers the account fee, the stock trade fee, the inactivity fee, the options fee, the minimum deposit and any deposit or withdrawal charge. Trust carries 40% and looks at the regulators, the legal entity, the investor protection scheme and the published retail loss percentage. The offer carries 25% and covers markets, features, account types, support channels and who the platform is built for. Figures come from the brand's own pricing and legal pages, from the Financial Conduct Authority, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Bank of Lithuania, the Cyprus Securities and Exchange Commission, the Securities Investor Protection Corporation list of members, the Financial Services Compensation Scheme and the European Securities and Markets Authority register of crypto asset service providers. Medians and quartiles come from our own data across the 270 brands we track, of which 194 hold a licence. Partner brands are listed first, then everything else by score. Where two brands share a score, the lower deposit floor settles the order.

Our top picks

1. 1. Robinhood: best for top-pick

   Robinhood heads this ranking because it clears the fees that decide most accounts, with a $0 account fee, a $0 stock trade fee and a $0 inactivity fee, while opening with a $0 minimum deposit. Its trust profile is the strongest in the group here: the firm is regulated by the Bank of Lithuania, appears in the Securities Investor Protection Corporation member list and holds EU investor compensation of EU ICS up to EUR 20,000. It also covers the widest spread of markets in this ranking, spanning stocks, etfs and options alongside fractional shares, crypto and futures. The trade-off sits in moving money: an outgoing transfer costs $100 outgoing transfer, and margin runs at 3.95% with retail leverage of 10X.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • Nothing to pay to open or hold an account, with an account fee of $0 and an inactivity fee of $0
   • Trading a share costs $0, so a small first order is not eaten by commission
   • You can start with a deposit of $0, lower than most brands on our data
   • Fractional shares, options, futures, crypto and a mobile app are all available on the same account
   • Supervised by the Bank of Lithuania and a SIPC member, so your money sits with a regulated firm

   Cons

   • Leverage is available at 10X, which magnifies losses as well as gains
   • Outgoing transfers carry a charge of $100 outgoing transfer
   • Margin borrowing is priced at a margin rate of 3.95%, so interest adds to your cost
   • The listed account types cover retirement and joint accounts rather than tax-sheltered UK and European wrappers

2. 2. Ally Bank

   Ally Bank sits fourth because its investing side runs on a $0 account fee and a $0 stock trade fee, with a $0 minimum deposit and no inactivity charge at $0. Its distinguishing strength is support, since help runs on email, chat and phone, the widest channel list in this ranking, and it is supervised by the Securities and Exchange Commission, the Financial Industry Regulatory Authority and the Federal Deposit Insurance Commission. The entity is Ally Bank, with SIPC cover of SIPC up to USD 500,000. Markets span stocks, etfs and options, the broadest conventional list in the group, and joint, IRA and Roth IRA accounts are all offered. The catch is options at $0.50 per contract, where Robinhood and Firstrade charge nothing.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • A stock trade costs $0 and the account fee is $0, so holding a US portfolio costs nothing at the platform level.
   • The inactivity fee is $0, and Ally ranks 1 on that measure among 56, so a dormant balance is not quietly drained.
   • Regulated in the US by SEC, FINRA and FDIC, with investor protection recorded as SIPC up to USD 500,000 and an FDIC certificate of FDIC cert 57803.
   • A bank behind the brokerage: the legal entity is Ally Bank, founded in 1919, so the deposit side carries the same name.
   • Support covers email, chat and phone, so phone and chat sit alongside email and the help centre.

   Cons

   • The automated portfolios take a management fee of 0% to 0.3% a year, so a free account is not the whole cost picture.
   • Options carry $0.50 per contract, so the commission-free model in commission free does not reach derivative trading.
   • Account types run to joint, ira and roth ira, with no wrapper for a tax-sheltered investor who is not saving through a retirement account.
   • stocks, etfs and options carries no forex, contracts for difference or crypto line, so traders in those markets need eToro or CFI instead.

3. 4. Firstrade

   Firstrade earns second place on the same clean fee sheet as Robinhood, with a $0 account fee, a $0 stock trade fee, a $0 options fee and a $0 inactivity fee, plus a $0 minimum deposit. The trust case is strong: it appears in the Securities Investor Protection Corporation member list with cover of SIPC up to USD 500,000, regulated by the Financial Industry Regulatory Authority, and the entity is FIRSTRADE SECURITIES INC. Money movement is its practical edge, since deposits and withdrawals run Free for bank transfers, $25 for wire transfers and support runs on phone and a help centre. Markets cover stocks, etfs and options, and a demo account plus fractional shares help newcomers start small. Against SoFi next in this ranking, Firstrade offers a wider market list and a demo account, while SoFi adds crypto.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • Regulated in the US by FINRA and SIPC, with protection stated as SIPC up to USD 500,000 and a membership record at SIPC member 34642.
   • A traditional IRA, a Roth IRA and a joint account all sit in ira, roth ira and joint under the commission-free pricing in commission free, so retirement and shared accounts hold at the same cost.
   • Fractional shares and a demo account sit in demo account, options and mobile app, which helps the beginners and day traders named in beginners, experienced and day traders start small.
   • Trading runs on the platforms in Web, iOS and Android, so the same account works in a browser and on a phone or tablet.

   Cons

   • The market list in stocks, etfs and options covers stocks, ETFs, options and funds, a narrow range next to eToro at stocks, etfs and forex and CFI at stocks, etfs and forex.
   • Live chat and email are not among the listed support channels (phone and help centre), which pair a phone line with a help centre.
   • An ISA and a SIPP are not among the listed account types (ira, roth ira and joint), which cover a traditional IRA, a Roth IRA and a joint account.
   • Across the site 70.15% of retail accounts lose money, and brands aimed at beginners sit at 74%, so a low price says little about how a portfolio ends.

4. 5. Merrill Edge

   Merrill Edge belongs in this ranking because it combines a $0 account fee, a $0 stock trade fee, a $0 inactivity fee and a $0 minimum deposit with a wider account range than most brands here, offering IRA, Roth IRA, joint and corporate accounts for beginners and experienced traders alike. The entity is Merrill Lynch, Pierce, Fenner and Smith Incorporated, regulated by the Financial Industry Regulatory Authority and the Securities and Exchange Commission, with SIPC cover of SIPC up to USD 500,000. Markets cover stocks, etfs and options, support runs on phone, chat and help centre, and options cost $0.65 per contract. Against Capital.com next, Merrill Edge is a stock and bond broker, while Capital.com leans on CFDs.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • Stock trades cost $0 and the account fee is $0, so the everyday cost of holding a brokerage account is minimal
   • No inactivity charge at $0, unlike several rivals that bill dormant accounts
   • Minimum deposit of $0 means an account can be opened and funded without a large starting balance
   • Regulated in the US by FINRA and SEC, with SIPC cover of SIPC up to USD 500,000 on securities held in the account
   • Options trading at $0.65 per contract, which sits inside the market band for per-contract pricing

   Cons

   • Options cost $0.65 per contract, so the free stock dealing does not extend to derivatives
   • Managed portfolios charge 0.45% to 0.85% in advisory fees, where commission-free dealing applies only to self-directed trading
   • Account types are limited to retirement and joint and corporate forms, so it does not cover the wider account range some rivals offer
   • Compared with CFI and eToro, the market list holds stocks, etfs and options and stops short of the wider asset mix those platforms cover

5. 6. BMO InvestorLine

   BMO InvestorLine ranks ninth on a CAD 0 account fee and a CAD 0 stock trade fee, with a CAD 0 inactivity fee that matches the rest of this ranking. It is the only Canadian brokerage in the group, so its figures are in Canadian dollars, and its differentiators are currency conversion at 0.4% to 1.6%, options at CAD 0.90 per contract and a margin rate of 8.75%. Markets cover stocks, etfs and options with phone and chat support, and transfers run $0 EFT, $10 wire. Charles Schwab, ranked last here, covers a similar conventional market list but reports SIPC cover of SIPC up to USD 500,000 and options at $0.65.

   • Stock trade fee: CA$0
   • Account fee: CA$0
   • Inactivity fee: CA$0

   Pros

   • Stock and ETF trades cost CAD 0 and the account fee is CAD 0, so holding a portfolio costs nothing.
   • The inactivity fee is CAD 0, so an untouched account is not charged.
   • Support runs on phone and chat, giving a phone line and live chat.
   • Markets cover stocks, etfs and options, so bonds, funds and options sit alongside shares.

   Cons

   • Margin borrowing is priced at 8.75%, so a leveraged position carries a borrowing cost.
   • Options contracts carry a fee of CAD 0.90 each.
   • Currency conversion is the hidden cost, at 0.4% to 1.6%, and deposits and withdrawals run $0 EFT, $10 wire.

6. 7. Capital.com

   Its trust profile is the strongest European one in this ranking, regulated by the Financial Conduct Authority and the Cyprus Securities and Exchange Commission as CAPITAL VAULT LTD, with Financial Services Compensation Scheme cover of FSCS up to GBP 85,000. The market list is the widest here, stocks, etfs and forex on web, mobile, MT4 and TradingView, with retail leverage of 1:30 and CFDs at the core. Against BMO InvestorLine next, Capital.com is a CFD and forex platform, while BMO InvestorLine is a Canadian bank brokerage. Note 65% of retail accounts lose money.

   • Minimum deposit: £20
   • Stock trade fee: $0
   • Account fee: £0

   Pros

   • No account fee at all, which puts it joint first on that measure in our data (£0).
   • No inactivity charge, also joint first in our data, so an unused balance is not quietly billed (£0).
   • Stock trades cost $0 under a commission-free model.
   • Money is protected under the FSCS scheme, and UK clients trade under FCA regulation.
   • Deposits and withdrawals cost nothing, so funding and cashing out add no line to the bill.

   Cons

   • The minimum deposit of £20 is far higher than CFI, which asks for $0.
   • Support runs on chat and help centre, so there is no phone line for questions about a leveraged position.
   • Retail accounts lose 65% of money, and the market is open around the clock.
   • stocks, etfs and forex and max leverage of 1:30 give quick access to large positions, which magnifies losses as much as gains.

7. 8. SoFi

   SoFi places third because it pairs a $0 account fee with a $0 stock trade fee, a $0 minimum deposit and a $0 inactivity fee, and it is built for beginners. The legal entity is SOFI SECURITIES LLC, listed in the Securities Investor Protection Corporation member list with cover of SIPC up to USD 500,000, and it is supervised by the Federal Deposit Insurance Corporation alongside SIPC, which is the pair Ally Bank also carries. Markets reach stocks, etfs and options with fractional shares, crypto and a mobile app. Compared with Ally Bank next in this ranking, SoFi is a brokerage built around investing, while Ally Bank sits inside a bank and charges $0.50 per options contract.

   • Minimum deposit: $0
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • A stock trade costs $0 on a commission free model, so cost does not decide which shares you can hold.
   • The account fee is $0 and the inactivity fee is $0, so extra accounts and balances left untouched are not billed.
   • The minimum deposit is $0 where Vantage asks $5, so a small amount can start an account.
   • Fractional shares, crypto and a mobile app sit in the feature list crypto, fractional shares and mobile app, so small monthly amounts can be spread across holdings from a phone.

   Cons

   • The account types listed are ira, roth ira and joint, retirement and joint accounts, and a general taxable account is not among them.
   • Markets stop at stocks, etfs and options, while eToro lists stocks, etfs and forex, so forex, CFDs and futures are out of reach here.
   • The group sits in US and its registrations are SIPC member 68389 and FDIC cert 26881, with no UK or EU regulator named.

8. T29. Trading 212

   Trading 212 ranks fifth on a £0 account fee, a £0 stock trade fee and a £0 inactivity fee, with the lowest entry point in this ranking at £1. It is the only member built around UK wrappers, offering ISA, SIPP and joint accounts rather than the IRA and Roth IRA accounts common elsewhere, and it is aimed at beginners. Regulated by the Financial Conduct Authority and the Cyprus Securities and Exchange Commission, the entity is Trading 212 Markets Ltd, protected by the Financial Services Compensation Scheme at FSCS up to GBP 85,000. Markets cover stocks, etfs and forex. Against Fbs Partners next, Trading 212 has a lower minimum deposit, while Fbs Partners offers a demo account and metals trading.

   • Minimum deposit: £1
   • Stock trade fee: £0
   • Account fee: £0

   Pros

   • Nothing to pay for holding or for going quiet: the account fee reads £0 and the inactivity fee reads £0.
   • Trading shares costs £0, the same stock trade fee eToro lists at $0, so the trade price is not the reason to move.
   • The entry of £1 sits under the $5 Vantage asks for, which matters for a first transfer.
   • Investor protection stands at FSCS up to GBP 85,000, with a Financial Conduct Authority registration in the UK and a Cyprus Securities and Exchange Commission registration in Cyprus.
   • ISA, SIPP and joint accounts sit under one login, covered by isa, sipp and joint, so a tax-wrapped pot and a shared pot do not need separate providers.

   Cons

   • The market list pairs shares and ETFs with forex and CFDs in stocks, etfs and forex, so a platform aimed at beginners, beginners, also carries leveraged products.
   • The fee sheet is the easy part: retail accounts lose money at 70.15% across the brokers compared, and a £0 trade cost does not remove that risk.
   • The money side runs through Trading 212 Markets Ltd in CY, registered with the Cyprus Securities and Exchange Commission as MiCA CASP 21380045KC28948FNE32, so a UK saver is dealing with a Cyprus entity alongside the UK one.
   • CFI opens an account from a minimum deposit of $0, so the £1 entry here is not the lowest on the table.

9. 10. FBS

   Fbs Partners takes sixth place with a $0 account fee, a $0 stock trade fee and a $0 inactivity fee, and its withdrawals are the cheapest in this ranking at free. It is a Cyprus firm regulated by the Cyprus Securities and Exchange Commission, operating as Tradestone Limited with EU investor compensation of EU ICS up to EUR 20,000. Markets reach stocks, etfs and forex on MetaTrader, so currency trading is central here, and the euro against the dollar trades at a 0.5% spread. A demo account helps with the deposit, which starts at $5. Compared with Merrill Edge next in this ranking, the retail loss figure of 66.43% of accounts losing money matters more than the fees, which are identical.

   • Minimum deposit: $5
   • Stock trade fee: $0
   • Account fee: $0

   Pros

   • An account regulated by the Cyprus Securities and Exchange Commission: Cyprus Securities and Exchange Commission licenses Tradestone Limited under 331/17, so the contract has a named entity behind it.
   • The stock trade fee is $0 on a commission free model, so dealing in the shares and ETFs inside stocks, etfs and forex carries no ticket charge.
   • The inactivity fee is $0, so a dormant balance is not quietly drained by account charges.
   • Support runs on email, phone and help centre, so a phone line and email sit alongside the help centre for questions that need a reply from a person.
   • A single account covers stocks, etfs and forex, from shares to metals, on the platforms named in MetaTrader 4 and MetaTrader 5.

   Cons

   • The EUR/USD spread of 0.5% is the charge that lands on every forex and CFD trade, so currency traders feel it more than the flat fees suggest.
   • The minimum deposit of $5 sits above CFI's $0, so readers who want the smallest opening balance have a lower floor elsewhere.
   • The market list stocks, etfs and forex leaves out crypto and futures, which eToro covers in stocks, etfs and forex.
   • Retail accounts here lose money at a rate of 66.43%, so the low fees make trading cheaper without making it safer.

What to look for

Read the account fee next to the stock trade fee

A commission-free model is common here, so the account fee is what separates a genuinely cheap broker from one that moves the charge. The account fee and the stock trade fee are both €0 and €0 for every brand, which means the options fee, the minimum deposit and the withdrawal charge decide the real cost.

Check the minimum deposit, not the headline

A low fee means little if you cannot fund the account. Minimum deposits in this ranking run €0 to €23.24, with a median of €0 and a top quartile of €0.87. The wider site median of €4.64 shows this group opens cheaper than most.

Read the protection scheme, not just the regulator

Regulator names tell you who supervises the firm. Investor protection tells you what you get back if the firm fails. Cover in this group runs from EU investor compensation of EU ICS up to EUR 20,000 through SIPC at SIPC up to USD 500,000 to the Financial Services Compensation Scheme at FSCS up to GBP 85,000.

Price the extras you will actually use

Options trade at $0.50 per contract at Ally Bank, $0.65 at Merrill Edge and $0.65 at Charles Schwab, while currency conversion runs 0.4% to 1.6% at BMO InvestorLine. A commission-free stock trade says nothing about these.

Weigh leverage and loss rates with care

Retail leverage reaches 10X and 1:30 in this group. Where accounts losing money are published, the figures are 65% for Capital.com and 66.43% for Fbs Partners, against a site median of 70.15%.

Frequently asked questions

Top low-fee brokers compared by country

• United States

Brokers compared head to head

• Robinhood vs Ally Bank
• Robinhood vs Fidelity
• Robinhood vs Firstrade

The data behind this ranking

All data and the CSV