Best brokerage accounts in November 2024
A brokerage account is an investment account for buying and selling stocks, bonds, mutual funds, and ETFs or exchange traded funds.
Top 12 based on variable annual percentage yield (APY %):
| APY | Institution | Min to Open | Options Contract Fee | Fractional Shares |
|---|---|---|---|---|
| 8.1% | moomoo → | $0 | $0.65 | No |
| 4.5% | Fidelity → | $0 | $0.65 | Yes |
| 4.5% | Robinhood → | $0 | $0.00 | Yes |
| 4.15% | Vanguard → | $0 | $1.00 | No |
| 1.299% | Interactive Brokers → | $0 | $0.65 | Yes |
| 0.45% | Charles Schwab → | $0 | $0.65 | Yes |
| 0% | Webull → | $0 | $0.65 | Yes |
| 0% | Firstrade → | $0 | $0.00 | No |
| 0% | TradeStation → | $0 | $0.60 | No |
| 0% | E-Trade Financial → | $0 | $0.65 | No |
| 0% | Merrill Edge → | $0 | $0.65 | No |
| 0% | tastytrade → | $0 | $1.00 | No |
What is a brokerage account?
A brokerage account is an investment account for buying and selling stocks, bonds, mutual funds, and ETFs or exchange traded funds.
Brokerage vs. Retirement vs. Checking account
| Brokerage | Retirement | Checking | |
|---|---|---|---|
| Interest Rate | Low, or zero | Zero | Low, or zero |
| Types | Cash, Margin | Traditional IRA, Roth, Rollover | Traditional, Online, High-Yield |
| Contributions | Unlimited | Limited | Unlimited |
| Withdrawals | Unlimited | Limited | Unlimited |
| Minimum Balance | Low, or no minimum balance required | Low, or no minimum balance required | Low, or no minimum balance required |
| Tax Benefits | No | Yes | No |
| Insurance | SIPC | SIPC | FDIC |
| Insurance Limit | $500K, including $250K for cash | $500K, including $250K for cash | $250K |
| Gain/Loss Protection | None | None | N/A |
Disclosure: INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
