Best brokers for funds in 2024

Written by
Gyula L.
Fact checked by
Tamás D.
Updated
May 2024

Find below the strengths of the best brokers for mutual fund investing available in the United States, updated for 2024:

  1. Ally Invest is the best broker for mutual fund investing in 2024 - Low trading and non-trading fees. Easy and fully digital account opening. Great education.
  2. Firstrade - Free stock, ETF, fund and options trading. Solid research tools. Quality educational tools.
  3. Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
  4. Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
  5. Vanguard - Stocks and ETFs are free to trade. Easy account opening. Great mobile trading platform. Interest paid on uninvested cash.
  6. E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools. Pays interest on uninvested cash.
  7. Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  8. J.P. Morgan Self-Directed Investing - Commission-free US stocks, ETFs, funds and bonds. Fast and fully digital account opening. Well-established parent company. Pays interest on uninvested cash.
  9. Zacks Trade - Low fees. Extensive stock and ETF selection. Great customer service.
  10. Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
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Comparison of top brokers for funds in 2024

While many brokers and trading platforms offer an excellent service, the ones in our toplist go the extra mile.

Broker
Minimum deposit
Time to open account
Ally Invest
$0
1-3 days
Firstrade
$0
1-3 days
Interactive Brokers
$0
1-3 days
Charles Schwab
$0
1 day
Vanguard
$0
1-3 days
E*TRADE
$0
1-3 days
Fidelity
$0
1-3 days
J.P. Morgan Self-Directed Investing
$0
1 day
Zacks Trade
$0
>3 days
Merrill Edge
$0
1 day
Best brokers for funds key data compiled for May 2024

Popularity of the best broker for funds

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

Fee comparison of the best brokers for funds

How much you have to pay for a trade in spreads, commission and other trading costs is a key broker selection criteria. Check out how much you have to pay in fees for trading mutual funds at these top brokers.

Broker
Fund fee class
Ally Invest
Low
Firstrade
Low
Interactive Brokers
Average
Charles Schwab
High
Vanguard
Average
E*TRADE
High
Fidelity
High
J.P. Morgan Self-Directed Investing
Low
Zacks Trade
High
Merrill Edge
Average
Fees at the top brokers for funds in May 2024

Our calculations exclude ongoing fees (expense ratio), front-load and redemption fees, short-term redemption fees, and performance fees.

If you are unsure how brokerage fees work, check out our article on the various fees, charges and costs.

Non-trading fees at the best brokers for funds

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Broker
Account fee
Inactivity fee
Ally Invest
Firstrade
Interactive Brokers
Charles Schwab
Vanguard
E*TRADE
Fidelity
J.P. Morgan Self-Directed Investing
Zacks Trade
Merrill Edge
Non-trading fees at the top brokers for funds in May 2024

Recommended for investors and traders looking for low fees and focusing on the US market

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Ally Invest snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.0 stars
Read review For a detailed analysis of Ally Invest services, check out our review for 2024

Recommended for beginners and investors looking for zero-commission trading, focusing on the US market

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Firstrade snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.5 stars
Read review For a detailed analysis of Firstrade services, check out our review for 2024

Recommended for traders looking for broad market access and a professional trading environment

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Interactive Brokers snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.3 stars
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2024

Recommended for investors and traders looking for solid research, low fees and great customer service

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Charles Schwab snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.5 stars
Read review For a detailed analysis of Charles Schwab services, check out our review for 2024

Recommended for long-term investors looking for great ETF and mutual fund selection

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Vanguard snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.1 stars
Read review For a detailed analysis of Vanguard services, check out our review for 2024

Recommended for investors and traders looking for solid research and a great mobile trading platform

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E*TRADE snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.5 stars
Read review For a detailed analysis of E*TRADE services, check out our review for 2024

Recommended for investors and traders looking for solid research and great trading platforms

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Fidelity snapshot
Minimum deposit $0
Deposit method Bank transfer, PayPal, Venmo, Apple Pay
Withdrawal method Bank transfer, PayPal, Venmo, Apple Pay
Withdrawal fee $0
Trading platform score 4.7 stars
Read review For a detailed analysis of Fidelity services, check out our review for 2024

Recommended for beginners and buy-and-hold investors focusing on the US stock market

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J.P. Morgan Self-Directed Investing snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 3.6 stars
Read review For a detailed analysis of J.P. Morgan Self-Directed Investing services, check out our review for 2024

Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees

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Zacks Trade snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 3.7 stars
Read review For a detailed analysis of Zacks Trade services, check out our review for 2024

Recommended for investors and traders looking for low fees, quick account opening and simple platforms

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Merrill Edge snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 4.5 stars
Read review For a detailed analysis of Merrill Edge services, check out our review for 2024

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How did BrokerChooser pick the best brokers for Funds?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including commissions, non-trading fees),
  • We paid special attention to mutual fund fees,
  • Checked inactivity fees,
  • Looked at the range of funds available,
  • Opened an account and tested the platform (charting, features, usability) with real money.

Save hours of research!
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BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 600 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 60,000 data points overall.

FAQ

What makes a good broker for funds?

At BrokerChooser, we test online brokers along more than 500 criteria, using real accounts and real money. The following considerations weighed more heavily when our experts compiled the top list of the best brokers for funds:

  • Trading fees charged for funds
  • Non-trading fees such as inactivity fee
  • Wide range of products, especially mutual funds
  • Broker safety
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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Gyula Lencsés, CFA
Author of this article
Gyula is a former analyst expert and Head of Content at BrokerChooser. With over a decade in finance, he led content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. He opened real-money accounts, executed transactions, and engaged with customer services, offering firsthand assessments. Prior to BrokerChooser, he managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. His goal: simplify the hunt for top brokers in a dynamic investment landscape.
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