Best brokers for IPO in 2024

Written by
Adam N.
Fact checked by
Updated
3w ago

Find below the strengths of the best brokers for IPO investment available in the United States, updated for 2024:

  1. moomoo - the best broker for IPO investment in 2024. Commission-free stock and ETF trading. Fast and easy account opening. Quality analytical tools and excellent education services. Pays high interest on uninvested cash.
  2. Webull - Free stock/ETF trading and high 5% interest on uninvested cash. Fast and easy account opening. Great trading platforms.
  3. E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools. Pays interest on uninvested cash.
  4. SoFi Invest - Free stock and ETF trading. Fast and fully digital account opening. Fast customer support.
  5. TradeStation - Great web and mobile trading platform. High level of investor protection. High-quality research and education tools.
  6. Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  7. Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
  8. Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
  9. Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
  10. Ally Invest - Low trading and non-trading fees. Easy and fully digital account opening. Great education.
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Overview of the best brokers for IPO

Broker
Speed of US IPO listing
Minimum deposit
moomoo
Great
$0
Webull
Great
$0
E*TRADE
Great
$0
SoFi Invest
Great
$0
TradeStation
Great
$0
Fidelity
Great
$0
Charles Schwab
Great
$0
Merrill Edge
Great
$0
Interactive Brokers
Great
$0
Ally Invest
Great
$0
Best brokers for IPO data compiled for May 2024

Popularity of the best brokers for IPO

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

Trading fees at the best brokers for IPO

In the case of IPO investing, the key broker selection criteria is fees for stock trading. We compared brokers by calculating all the fees of a typical trade in the US: buying stocks for $2,000, holding them for a week and then selling them. As most IPO prices are usually well above $20 per share, this means trading less than 100 shares of a stock.

Broker
US stock fee
moomoo
$0 per trade
Webull
$0 per trade plus regulatory and exchange fees
E*TRADE
Free stock and ETF trading
SoFi Invest
$0 per trade
TradeStation
$5 per trade for non-US clients. For US clients, commission-free up to the first 10,000 shares per trade.
Fidelity
Free stock and ETF trading
Charles Schwab
Free stock and ETF trading
Merrill Edge
Commission-free stock and ETF trading
Interactive Brokers
Fixed pricing: $0.005 per share, min. $1, max. 1% of trade value. Free for US clients choosing IBKR Lite plan.
Ally Invest
Free stock and ETF trading for stocks priced above $2, otherwise $4.95 commission plus $0.1 per share
US stock trading fees at the best brokers for IPO in May 2024

If you are unsure how brokerage fees work, check out our article explaining various brokerage fees.

Non-trading fees at the best brokers for IPO

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
Withdrawal fee
moomoo
$0
Webull
$0
E*TRADE
$0
SoFi Invest
$0
TradeStation
$35
Fidelity
$0
Charles Schwab
$0
Merrill Edge
$0
Interactive Brokers
$0
Ally Invest
$0
Non-trading fees at the best brokers for IPO in May 2024

Recommended for investors and traders looking for zero-commission trading and focusing on US markets

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moomoo snapshot
US zero-fee discount broker
Minimum deposit $0
Trading platform score 4.3 stars
Deposit and withdrawal score 1.2 stars
Customer service score 5.0 stars
Read review For a detailed analysis of moomoo services, check out our review for 2024

Recommended for investors and traders looking for zero-commission trading and easy platforms

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Webull snapshot
US discount broker
Minimum deposit $0
Trading platform score 5.0 stars
Deposit and withdrawal score 1.3 stars
Customer service score 3.6 stars
Read review For a detailed analysis of Webull 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
US stockbroker
Minimum deposit $0
Trading platform score 4.5 stars
Deposit and withdrawal score 1.6 stars
Customer service score 2.9 stars
Read review For a detailed analysis of E*TRADE 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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SoFi Invest snapshot
US discount broker
Minimum deposit $0
Trading platform score 4.3 stars
Deposit and withdrawal score 1.6 stars
Customer service score 3.3 stars
Read review For a detailed analysis of SoFi Invest services, check out our review for 2024

Recommended for traders focusing on US markets and buy-and-hold investing

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TradeStation snapshot
US stockbroker
Minimum deposit $0
Trading platform score 3.9 stars
Deposit and withdrawal score 1.4 stars
Customer service score 2.9 stars
Read review For a detailed analysis of TradeStation 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
US stockbroker
Minimum deposit $0
Trading platform score 4.7 stars
Deposit and withdrawal score 3.8 stars
Customer service score 2.7 stars
Read review For a detailed analysis of Fidelity 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
US discount broker
Minimum deposit $0
Trading platform score 4.5 stars
Deposit and withdrawal score 1.6 stars
Customer service score 4.7 stars
Read review For a detailed analysis of Charles Schwab 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
US discount broker
Minimum deposit $0
Trading platform score 4.5 stars
Deposit and withdrawal score 1.6 stars
Customer service score 3.8 stars
Read review For a detailed analysis of Merrill Edge 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
International broker providing all asset classes
Minimum deposit $0
Trading platform score 4.3 stars
Deposit and withdrawal score 3.3 stars
Customer service score 3.4 stars
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2024

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

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Ally Invest snapshot
US stockbroker
Minimum deposit $0
Trading platform score 4.0 stars
Deposit and withdrawal score 1.5 stars
Customer service score 3.4 stars
Read review For a detailed analysis of Ally Invest services, check out our review for 2024

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How did BrokerChooser select the best brokers for IPO investing?

  • We checked the 101 online brokers BrokerChooser has reviewed so far, testing their platforms
  • We looked at the brokers where it is possible to invest in US stock IPOs
  • We evaluated the IPO services, e.g. how quickly brokers list shares after their IPO
  • We compared fees for products favored by IPO investors, such as stocks
  • We looked at the overall profile of the broker (other products, trading platforms, account opening process)


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 fine-tune 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

Which broker is best for IPOs?

A broker is good for IPO investing if it provides access to IPOs on the US market, at stock exchanges like the NYSE, AMEX and Nasdaq. It is also preferable that stocks be available to trade as quickly as possible after their IPO (i.e. within a few days) and that stock trading fees at the broker are low. In our current ranking, moomoo is the best broker for IPOs.

What is an IPO?

IPO stands for initial public offering. It is a transaction when a private company offers its shares to the public for the first time in a new stock issuance. The company is “going public,” which means that its private ownership becomes public and its shares will be listed and traded on a stock exchange.

Want to understand IPO investing in more detail?

Check out these articles written by our broker and trading experts:

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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
Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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