Intro and winners
Find below the strengths of the best brokers for mutual fund investing available in in the US, updated for 2024:
- 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.
- Firstrade - Free stock, ETF, fund and options trading. Solid research tools. Quality educational tools.
- Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
- Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
- Vanguard - Stocks and ETFs are free to trade. Easy account opening. Great mobile trading platform. Interest paid on uninvested cash.
- E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools. Pays interest on uninvested cash.
- Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
- 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.
- Zacks Trade - Low fees. Extensive stock and ETF selection. Great customer service.
- Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
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 | $250 | >3 days |
| Merrill Edge | $0 | 1 day |
Popularity of the best broker for funds in the US
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 | High |
| E*TRADE | High |
| Fidelity | High |
| J.P. Morgan Self-Directed Investing | Low |
| Zacks Trade | High |
| Merrill Edge | Average |
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 |
Recommended for investors and traders looking for low fees and focusing on the US market
| 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
| 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
| Interactive Brokers 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 Interactive Brokers services, check out our review for 2024 |
Recommended for investors and traders looking for solid research, low fees and great customer service
| 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
| Vanguard 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 Vanguard services, check out our review for 2024 |
Recommended for investors and traders looking for solid research and a great mobile trading platform
| 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
| 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
| J.P. Morgan Self-Directed Investing snapshot | |
|---|---|
| Minimum deposit | $0 |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Trading platform score | 4.6 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
| Zacks Trade snapshot | |
|---|---|
| Minimum deposit | $250 |
| 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
| 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!
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 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
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.
