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Best brokers for funds in 2022

Charles Stanley Direct Logo
1st place
Charles Stanley Direct
Interactive Brokers Logo
2nd place
Interactive Brokers
Firstrade Logo
3rd place
Firstrade

To help you find the best online brokers for funds, we went ahead and did the research for you. First, we looked at the 103 online brokers that we cover, then we checked and compared their fees, products, trading platforms, deposit and withdrawal conditions, and more.

Let's see the winners!

Our top 5 picks for the best online brokers for funds in 2022:

  1. Charles Stanley Direct is the best broker for funds in 2022. Low fund fees. Great customer service. Easy deposit and withdrawal.
  2. Interactive Brokers takes second place. Low trading fees. Wide range of products. Many great research tools.
  3. Firstrade rounds out the top three. Free stock, ETF, fund and options trading. Solid research tools. Quality educational tools.
  4. Ally Invest came in fourth. Low trading and non-trading fees. Easy and fully digital account opening. Great education.
  5. AJ Bell Youinvest just made it to the list at number five. Fast account opening. Easy to use trading platforms. Great customer service.
Best online brokers for funds in 2022
Broker Description Funds fee class Number of available fund providers
#1 Charles Stanley Direct UK-based stockbroker Low 280 Visit broker
#2 Interactive Brokers International broker providing all asset classes Average 400 Visit broker
#3 Firstrade US discount broker Low 450 Visit broker
#4 Ally Invest US stockbroker Low 600 Visit broker
#5 AJ Bell Youinvest UK discount broker Low 270 Visit broker

What makes a good online broker for mutual fund investing?

  • Fair fees for funds
  • Wide selection of funds
  • Safety
  • Low or no inactivity fee

We test brokers based on close to 500 criteria with real accounts and real money. We speak from experience.

For a tailored recommendation, check out our broker finder tool. Want more details? Compare brokers with the help of this detailed comparison tool.

And now, let's see the best brokers for fund investors one by one, starting with the winner, Charles Stanley Direct.

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Best brokers for funds in 2022
Charles Stanley Direct Logo

#1 Best brokers for funds
Charles Stanley Direct

Charles Stanley Direct is a UK-based stockbroker founded in 1985. It is regulated by the top-tier UK Financial Conduct Authority (FCA). In 2022 it was acquired by Raymond James Financial, Inc., which is an NYSE-listed financial services company, a constituent of the blue-chip S&P 500 index.

Charles Stanley Direct is considered safe because it has a long track record, its parent company is listed on a stock exchange, and is regulated by a top-tier regulator.

 

Pros Cons
Low fund fees Limited product portfolio
Great customer service Limited education materials
Easy deposit and withdrawal Basic research tools

Visit broker

#1 Charles Stanley Direct
Fees

Charles Stanley Direct has low fees when it comes to buying and selling funds.
Charles Stanley Direct fees
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund fee class Low Average Low Low Low
Mutual fund $0.0 $15.0 $0.0 $10.0 $2.1
Inactivity fee No No No No No

Note: We excluded the following fees:

  • Ongoing fees (expense ratio)
  • Front-load and redemption fees
  • Short-term redemption fees
  • Performance fees

Visit broker More

#1 Charles Stanley Direct
Markets and products

Charles Stanley Direct markets and products
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund providers (#) 280 400 450 600 270
Charles Stanley Direct available products other than funds
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Stocks Yes Yes Yes Yes Yes
Bonds Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes Yes
Forex No Yes No No No
Futures No Yes No No No
CFDs No Yes No No No
Crypto No Yes No No Yes

Visit broker More

Interactive Brokers Logo

#2 Best brokers for funds
Interactive Brokers

Interactive Brokers, one of the biggest US-based lowest spread brokers, was founded in 1977. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

Given that the broker has licenses from multiple top-tier regulators, has a long track record and publicly disclosed financials while being listed on a stock exchange; it all points towards IB being a safe service provider.

Interactive Brokers recently launched a new app for global stock trading: read our review of IBKR GlobalTrader.

In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools Understaffed customer service

Visit broker

#2 Interactive Brokers
Fees

Interactive Brokers has average fees when it comes to buying and selling funds.
Interactive Brokers fees
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund fee class Low Average Low Low Low
Mutual fund $0.0 $15.0 $0.0 $10.0 $2.1
Inactivity fee No No No No No

Note: We excluded the following fees:

  • Ongoing fees (expense ratio)
  • Front-load and redemption fees
  • Short-term redemption fees
  • Performance fees

Visit broker More

#2 Interactive Brokers
Markets and products

Interactive Brokers markets and products
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund providers (#) 280 400 450 600 270
Interactive Brokers available products other than funds
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Stocks Yes Yes Yes Yes Yes
Bonds Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes Yes
Forex No Yes No No No
Futures No Yes No No No
CFDs No Yes No No No
Crypto No Yes No No Yes

Visit broker More

Firstrade Logo

#3 Best brokers for funds
Firstrade

Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name First Flushing Securities.

Firstrade is considered safe because it has a long track record and is overseen by top-tier regulators.

Pros Cons
Free stock, ETF, fund and options trading No credit/debit cards and electronic wallets for money transfer
Solid research tools You can trade only on US markets
Quality educational tools No live chat or 24/7 availability

Visit broker

#3 Firstrade
Fees

Firstrade has low fees when it comes to buying and selling funds.
Firstrade fees
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund fee class Low Average Low Low Low
Mutual fund $0.0 $15.0 $0.0 $10.0 $2.1
Inactivity fee No No No No No

Note: We excluded the following fees:

  • Ongoing fees (expense ratio)
  • Front-load and redemption fees
  • Short-term redemption fees
  • Performance fees

Visit broker More

#3 Firstrade
Markets and products

Firstrade markets and products
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund providers (#) 280 400 450 600 270
Firstrade available products other than funds
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Stocks Yes Yes Yes Yes Yes
Bonds Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes Yes
Forex No Yes No No No
Futures No Yes No No No
CFDs No Yes No No No
Crypto No Yes No No Yes

Visit broker More

Ally Invest Logo

#4 Best brokers for funds
Ally Invest

Ally Invest is a US stockbroker regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Its parent company, Ally Financial Inc. dates back to 1911 when its predecessor, General Motors Acceptance Corporation (GMAC) was founded. Ally Financial Inc. is listed on the New York Stock Exchange and has a banking subsidiary, Ally Bank.

Ally Invest is considered safe because it has a long track record and is regulated by top-tier financial authorities.

Pros Cons
Low trading and non-trading fees You can trade only on US markets
Easy and fully digital account opening Forex trading is available through a separate account
Great education Lack of proper 2-step authentication

Visit broker

#4 Ally Invest
Fees

Ally Invest has low fees when it comes to buying and selling funds.
Ally Invest fees
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund fee class Low Average Low Low Low
Mutual fund $0.0 $15.0 $0.0 $10.0 $2.1
Inactivity fee No No No No No

Note: We excluded the following fees:

  • Ongoing fees (expense ratio)
  • Front-load and redemption fees
  • Short-term redemption fees
  • Performance fees

Visit broker More

#4 Ally Invest
Markets and products

Ally Invest markets and products
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund providers (#) 280 400 450 600 270
Ally Invest available products other than funds
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Stocks Yes Yes Yes Yes Yes
Bonds Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes Yes
Forex No Yes No No No
Futures No Yes No No No
CFDs No Yes No No No
Crypto No Yes No No Yes

Visit broker More

AJ Bell Youinvest Logo

#5 Best brokers for funds
AJ Bell Youinvest

AJ Bell Youinvest was founded in 1995 and it is one of the biggest discount brokers in the UK. It is regulated by the Financial Conduct Authority (FCA) and it is  listed on the London Stock Exchange (LSE).

AJ Bell Youinvest is considered safe because it has a long track record, it's listed on a stock exchange, and is regulated by a top-tier regulator.

Pros Cons
Fast account opening Limited product offer
Easy to use trading platforms Basic technical research tools
Great customer service

Visit broker

#5 AJ Bell Youinvest
Fees

AJ Bell Youinvest has low fees when it comes to buying and selling funds.
AJ Bell Youinvest fees
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund fee class Low Average Low Low Low
Mutual fund $0.0 $15.0 $0.0 $10.0 $2.1
Inactivity fee No No No No No

Note: We excluded the following fees:

  • Ongoing fees (expense ratio)
  • Front-load and redemption fees
  • Short-term redemption fees
  • Performance fees

Visit broker More

#5 AJ Bell Youinvest
Markets and products

AJ Bell Youinvest markets and products
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund providers (#) 280 400 450 600 270
AJ Bell Youinvest available products other than funds
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Stocks Yes Yes Yes Yes Yes
Bonds Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes Yes
Forex No Yes No No No
Futures No Yes No No No
CFDs No Yes No No No
Crypto No Yes No No Yes

Visit broker More

Best online brokers for funds in 2022 - Fee comparison included
What makes a good broker for funds?

Now that we have seen the top 5 brokers for funds, you're probably curious how we put together this list. Let us walk you through the process.

How did BrokerChooser pick the best brokers for funds?

At BrokerChooser, we test online brokers along close to 500 criteria, using real accounts and real money. We don't want to overwhelm you, so we'll list just a few important criteria that we took into consideration to find 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

Best online brokers for funds in 2022 - Fee comparison included
Bottom line

You saw the details, now let's zoom out again. Here are the best online brokers for mutual funds:

Best online brokers for funds for 2022
Charles Stanley Direct Interactive Brokers Firstrade Ally Invest AJ Bell Youinvest
Fund fee class Low Average Low Low Low
Fund providers (#) 280 400 450 600 270
Inactivity fee No No No No No
Overall score 4.3 4.9 4.3 4.6 4.5
Visit broker Visit broker Visit broker Visit broker Visit broker

Charles Stanley Direct is our winner, the best online broker for funds. Low fund fees. Great customer service. Easy deposit and withdrawal.
Pick the winner or any runner-up, and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use our broker finder tool to find the online broker most suitable for you.

Author of this article

András Iván

Author of this article

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so the best match can be found for each client.

András Iván

Broker Analyst

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so the best match can be found for each client.

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

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