Intro and winners
Find below the best brokers for millennials available in the United States, updated for 2023:
- Webull is the winner. - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
- Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
- Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
- TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- SoFi Invest - Free stocks and ETFs. Fast and fully digital account opening. Great customer support.
- TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
- moomoo - Free stocks, ETFs and options. Fast and easy account opening. Quality analytical tools and excellent education.
- E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- Vanguard - Stocks and ETFs are free to trade. Easy account opening. Great mobile trading platform.
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Table of contents
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1. Intro and winners
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2. Key features of the best brokers for millennials
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3. Fees at the best brokers for young investors
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4. Webull
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5. Fidelity
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6. Merrill Edge
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7. TD Ameritrade
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8. SoFi Invest
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9. TradeStation
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10. moomoo
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11. E*TRADE
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12. Alpaca Trading
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13. Vanguard
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14. Didn't find the best broker for you?
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15. How did we select the best brokers for millennials?
Top 10 brokers
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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 |
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
10,804
20,775
5,493
27,291
6,118
7,414
29,295
6,577
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 |
| 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 |
#1 Best brokers for millennials
Webull
Recommended for investors and traders looking for zero-commission trading and easy platforms
| 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 |
#2 Best brokers for millennials
Fidelity
Recommended for investors and traders looking for solid research and great trading platforms
| 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 |
#3 Best brokers for millennials
Merrill Edge
Recommended for investors and traders looking for low fees, quick account opening and simple platforms
| 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 |
#4 Best brokers for millennials
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| 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 |
#5 Best brokers for millennials
SoFi Invest
Recommended for beginners and investors looking for zero-commission trading, focusing on the us market
| 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 |
#6 Best brokers for millennials
TradeStation
Recommended for traders focusing on us markets and buy-and-hold investing
| 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 |
#7 Best brokers for millennials
moomoo
Recommended for investors and traders looking for zero-commission trading and focusing on us markets.
| 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 |
#8 Best brokers for millennials
E*TRADE
Recommended for investors and traders looking for solid research and a great mobile trading platform
| 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 |
#9 Best brokers for millennials
Alpaca Trading
Recommended for traders interested in algorithmic stock trading
| 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 |
#10 Best brokers for millennials
Vanguard
Recommended for long-term investors looking for great etf and mutual fund selection
| 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).
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.
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