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Best brokers for funds in 2023

Ally Invest Logo
1st place
Ally Invest
Firstrade Logo
2nd place
Firstrade
Interactive Brokers Logo
3rd place
Interactive Brokers

Top 5 brokers for funds in the United States in 2023:

  1. Ally Invest is the best broker for trading funds in 2023 - 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 - Low trading 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.

How did BrokerChooser pick the best brokers for funds?

  • We checked whether the broker is overseen by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • Checked minimum deposit requirements,
  • Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.


BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education and trading platforms. We check more than 500 criteria for each broker and fine-tune our methodology every year based on our own and users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 50,000 data points overall.

Best online brokers for funds in 2023 - Fee comparison included
Comparison of top brokers for funds in 2023

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

Best brokers for funds key data compiled for January 2023
Broker Minimum deposit Account activated in Number of available fund providers
Ally Invest $0 1-3 days 600
Firstrade $0 1-3 days 450
Interactive Brokers $0 1-3 days 400
Charles Schwab $0 1 day 600
Vanguard $0 1-3 days 344

Best online brokers for funds in 2023 - Fee comparison included
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.

Fees at the top brokers for funds in January 2023
Ally Invest Firstrade Interactive Brokers Charles Schwab Vanguard
Fund fee class Low Low Average High High
Mutual fund $10.0 $0.0 $15.0 $24.8 $20.0

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.

Best online brokers for funds in 2023 - Fee comparison included
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.

Ally Invest Firstrade Interactive Brokers Charles Schwab Vanguard
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0
Deposit fee $0 $0 $0 $0 $0
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And now, let's see the top brokers for funds one by one, starting with the winner, Ally Invest.

Ally Invest Logo

#1 Best brokers for funds
Ally Invest

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

Visit broker

Ally Invest snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 3.3 stars
Read review For a detailed analysis of Ally Invest services, check out our review for 2023
Firstrade Logo

#2 Best brokers for funds
Firstrade

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

Visit broker

Firstrade snapshot
Minimum deposit $0
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Trading platform score 3.9 stars
Read review For a detailed analysis of Firstrade services, check out our review for 2023
Interactive Brokers Logo

#3 Best brokers for funds
Interactive Brokers

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

Visit broker

Interactive Brokers 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 Interactive Brokers services, check out our review for 2023
Charles Schwab Logo

#4 Best brokers for funds
Charles Schwab

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

Visit broker

Charles Schwab 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 Charles Schwab services, check out our review for 2023
Vanguard Logo

#5 Best brokers for funds
Vanguard

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

Visit broker

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 2023

Best online brokers for funds in 2023 - Fee comparison included
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

Author of this article

Gyula Lencsés, CFA

Author of this article

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Gyula Lencsés, CFA

Head of Content

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

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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