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Best brokers for millennials in 2023


Find below the best brokers for millennials available in the United States, updated for 2023:
  1. Webull is the winner. - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
  2. Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  3. Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
  4. TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  5. SoFi Invest - Free stocks and ETFs. Fast and fully digital account opening. Great customer support.
  6. TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
  7. moomoo - Free stocks, ETFs and options. Fast and easy account opening. Quality analytical tools and excellent education.
  8. E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools.
  9. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
  10. Vanguard - Stocks and ETFs are free to trade. Easy account opening. Great mobile trading platform.
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Best trading platform for millennials in 2023 - Fee comparison included
Key features of the best brokers for millennials

Broker
Minimum deposit
Time to open account
Webull
$0
No minimum deposit for cash accounts, but there is a $2,000 minimum for margin accounts
1 day
Fidelity
$0
No minimum account balance
1-3 days
Merrill Edge
$0
No minimum deposit
1 day
TD Ameritrade
$0
$0 for US non-margin accounts, $2,000 for US margin accounts, and clients in Malaysia and Singapore are recommended to start with $3,500.
1-3 days
SoFi Invest
$0
No minimum deposit
1-3 days
TradeStation
$0
$1 for cash accounts, $2,000 for margin accounts, and $5,000 for futures accounts
1 day
moomoo
$0
There is no minimum deposit
1-3 days
E*TRADE
$0
No minimum deposit for non-margin brokerage account, while $2,000 for margin accounts and $500 for Core Portfolios
1-3 days
Alpaca Trading
$0
$0 for retail account, $30,000 for business accounts
1 day
Vanguard
$0
No minimum deposit; however, for funds and ETFs there is an investment minimum (starting with $1,000).
1-3 days
Overview of best brokers for millennials in 2023

Popularity of the best brokers for millennials

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

Popularity
9,499
16,823
6,118
7,414

Best trading platform for millennials in 2023 - Fee comparison included
Fees at the best brokers for young investors

Broker
US stock
UK stock
Webull
$0.0
$0 per trade plus regulatory and exchange fees
-
Not available
Fidelity
$0.0
Free stock and ETF trading
$11.2
£9 per trade
Merrill Edge
$0.0
Commission-free stock and ETF trading
-
Not available
TD Ameritrade
$0.0
Free stock and ETF trading
-
Not available
SoFi Invest
$0.0
$0 per trade
-
Not available
TradeStation
$0.0
Commission-free up to the first 10,000 shares per trade for US clients. $5 per trade for non-US clients
-
Not available
moomoo
$0.0
$0 per trade
-
Not available
E*TRADE
$0.0
Free stock and ETF trading
-
Not available
Alpaca Trading
$0.0
Commission-free stock trading
-
Not available
Vanguard
$0.0
Commission-free
-
Not available
Trading fees at the best brokers for millennials in 2023
Broker
Account fee
Inactivity fee
Webull
No account fee
No inactivity fee
Fidelity
No account fee
No inactivity fee
Merrill Edge
No account fee
No inactivity fee
TD Ameritrade
No account fee
No inactivity fee
SoFi Invest
No account fee
No inactivity fee
TradeStation
No account fee
$50 per year if your balance is less than $2,000 or if you make less than 5 trades per year
moomoo
No account fee for US stocks, but HK$ 15 per order for Hong Kong stocks
No inactivity fee
E*TRADE
No account fee
No inactivity fee
Alpaca Trading
No account fee
No inactivity fee
Vanguard
$20 per year for standard accounts unless you hold $10,000+ or choose electronic statements
No inactivity fee
Non-trading fees at the best brokers for millennials in 2023
Webull Logo

#1 Best brokers for millennials
Webull

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

Visit broker

Webull snapshot
Trading fee class Low
Fractional share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 5.0 stars
Read review For a detailed analysis of Webull services, check out our review for 2023
Fidelity Logo

#2 Best brokers for millennials
Fidelity

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

Visit broker

Fidelity snapshot
Trading fee class Low
Fractional share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.2 stars
Read review For a detailed analysis of Fidelity services, check out our review for 2023
Merrill Edge Logo

#3 Best brokers for millennials
Merrill Edge

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

Visit broker

Merrill Edge snapshot
Trading fee class Low
Fractional share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 5.0 stars
Read review For a detailed analysis of Merrill Edge services, check out our review for 2023
TD Ameritrade Logo

#4 Best brokers for millennials
TD Ameritrade

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker

TD Ameritrade snapshot
Trading fee class Low
Fractional share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.0 stars
Read review For a detailed analysis of TD Ameritrade services, check out our review for 2023
SoFi Invest Logo

#5 Best brokers for millennials
SoFi Invest

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

Visit broker

SoFi Invest snapshot
Trading fee class Low
Fractional share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.2 stars
Read review For a detailed analysis of SoFi Invest services, check out our review for 2023
TradeStation Logo

#6 Best brokers for millennials
TradeStation

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

Visit broker

TradeStation snapshot
Trading fee class Low
Fractional share dealing No
Minimum deposit $0
Inactivity fee Yes
Easiness of account opening 5.0 stars
Read review For a detailed analysis of TradeStation services, check out our review for 2023
moomoo Logo

#7 Best brokers for millennials
moomoo

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

Visit broker

moomoo snapshot
Trading fee class Low
Fractional share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.2 stars
Read review For a detailed analysis of moomoo services, check out our review for 2023
E*TRADE Logo

#8 Best brokers for millennials
E*TRADE

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

Visit broker

E*TRADE snapshot
Trading fee class Low
Fractional share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.2 stars
Read review For a detailed analysis of E*TRADE services, check out our review for 2023
Alpaca Trading Logo

#9 Best brokers for millennials
Alpaca Trading

Recommended for traders interested in algorithmic stock trading

Visit broker

Alpaca Trading snapshot
Trading fee class Low
Fractional share dealing Yes
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.8 stars
Read review For a detailed analysis of Alpaca Trading services, check out our review for 2023
Vanguard Logo

#10 Best brokers for millennials
Vanguard

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

Visit broker

Vanguard snapshot
Trading fee class Low
Fractional share dealing No
Minimum deposit $0
Inactivity fee No
Easiness of account opening 4.2 stars
Read review For a detailed analysis of Vanguard services, check out our review for 2023

Best trading platform for millennials in 2023 - Fee comparison included
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Best trading platform for millennials in 2023 - Fee comparison included
How did we select the best brokers for millennials?

  • We checked if the broker was regulated by a trusted regulator,
  • We checked and compared every aspect of their services (with a special focus on their mobile platform),
  • We checked trading and non-trading fees,
  • We checked deposit and withdrawal options,
  • We opened an account and tested the trading platform with our own money (charting, features, usability, customer service).
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.

We recommend only quality brokers, so you can be sure that none of the listed online brokers is a scam. To be on the safe side, we check safety-related criteria, such as regulation, investor protection amount, and the transparency of the broker's financials. All the brokers you find on BrokerChooser are regulated by at least one top-tier financial authority.

Author of this article

Adam Nasli

Author of this article

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

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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