Best brokerage accounts in June 2024

A brokerage account is an investment account for buying and selling stocks, bonds, mutual funds, and ETFs or exchange traded funds.

Best brokerage accounts in June 2024
Photo by Sigmund / Unsplash

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
5% Webull → $0 $0.65 Yes
5% Robinhood → $0 $0.00 Yes
4.96% Fidelity → $0 $0.65 Yes
4.83% Interactive Brokers → $0 $0.65 Yes
4.6% Vanguard → $0 $1.00 No
0.45% Charles Schwab → $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