Intro and winners
Find below the strengths of the best discount brokers in the United States, updated for 2025:
- moomoo is the best discount broker in 2025. - Commission-free stock and ETF trading. Fast and easy account opening. Quality analytical tools and excellent education services. Pays high interest on uninvested cash.
- Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
- Robinhood - Free US stock and ETF trading. Great mobile and web trading platforms. Fast and fully digital account opening. Interest paid on uninvested cash.
- Public.com - Commission-free stock and ETF trading. High interest on uninvested cash. Added community aspect to investing.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- 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.
- Webull - Free stock/ETF trading. High interest on uninvested cash. Fast and easy account opening. Great trading platforms.
- Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
- eToro - Low stock and ETF fees. Seamless account opening. Social trading.
- Ally Invest - Low trading and non-trading fees. Easy and fully digital account opening. Great education.
Overview of the best discount brokers
While many brokers with low fees offer an excellent service, the ones in our toplist go the extra mile.
| Broker | Fees class | Minimum deposit |
|---|---|---|
| moomoo | Low | $0 |
| Interactive Brokers | Low | $0 |
| Robinhood | Low | $0 |
| Public.com | Low | $20 |
| Alpaca Trading | Low | $0 |
| J.P. Morgan Self-Directed Investing | Low | $0 |
| Webull | Low | $0 |
| Oanda | Low | $0 |
| eToro | Low | $100 |
| Ally Invest | Low | $0 |
Popularity of the best discount brokers
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Fees at the top 10 discount brokers in 2025
What makes a good discount broker? Well, did we mention low fees? This includes commissions, financing rates, and, let's not forget, non-trading fees like inactivity or withdrawal fees. The tables below give you a good summary.
| Broker | US stock | UK stock |
|---|---|---|
| moomoo | $0.0 | - |
| Interactive Brokers | $1.0 | $3.8 |
| Robinhood | $0.0 | - |
| Public.com | $0.0 | - |
| Alpaca Trading | $0.0 | - |
| J.P. Morgan Self-Directed Investing | $0.0 | - |
| Webull | $0.0 | - |
| Oanda | $0.0 | $0.0 |
| eToro | $0.0 | $0.0 |
| Ally Invest | $0.0 | - |
| Broker | Account fee | Inactivity fee |
|---|---|---|
| moomoo | ||
| Interactive Brokers | ||
| Robinhood | ||
| Public.com | ||
| Alpaca Trading | ||
| J.P. Morgan Self-Directed Investing | ||
| Webull | ||
| Oanda | ||
| eToro | ||
| Ally Invest |
Product selection at the best discount brokers in 2025
Besides low trading fees and non-trading fees, a good discount brokerage firm should also offer access to a lot of markets and products, because providing low fees in more than one asset class is not an easy job. All brokers in our list offer real stocks, but we also looked into whether you can trade currencies, options or mutual funds.
| Broker | Stocks | ETFs |
|---|---|---|
| moomoo | ||
| Interactive Brokers | ||
| Robinhood | ||
| Public.com | ||
| Alpaca Trading | ||
| J.P. Morgan Self-Directed Investing | ||
| Webull | ||
| Oanda | ||
| eToro | ||
| Ally Invest |
And now, let's see the best discount brokers in detail one by one, starting with the winner, moomoo.
| moomoo snapshot | |
|---|---|
| Recommended for | Investors and traders looking for zero-commission trading and focusing on US markets |
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 4.4 stars |
| Read review | For a detailed analysis of moomoo services, check out our review for 2025 |
| Interactive Brokers snapshot | |
|---|---|
| Recommended for | Traders looking for broad market access and a professional trading environment |
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | Yes |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 3.1 stars |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2025 |
| Robinhood snapshot | |
|---|---|
| Recommended for | Beginners and buy-and-hold investors focusing on the US stock market |
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 5.0 stars |
| Read review | For a detailed analysis of Robinhood services, check out our review for 2025 |
| Public.com snapshot | |
|---|---|
| Recommended for | Beginners and buy-and-hold investors focusing on the US stock market |
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | Yes |
| Minimum deposit | $20 |
| Inactivity fee | Yes |
| Easiness of account opening | 4.4 stars |
| Read review | For a detailed analysis of Public.com services, check out our review for 2025 |
| Alpaca Trading snapshot | |
|---|---|
| Recommended for | Traders interested in algorithmic stock trading |
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 5.0 stars |
| Read review | For a detailed analysis of Alpaca Trading services, check out our review for 2025 |
| J.P. Morgan Self-Directed Investing snapshot | |
|---|---|
| Recommended for | Beginners and buy-and-hold investors focusing on the US stock market |
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 5.0 stars |
| Read review | For a detailed analysis of J.P. Morgan Self-Directed Investing services, check out our review for 2025 |
| Webull snapshot | |
|---|---|
| Recommended for | Investors and traders looking for zero-commission trading and easy platforms |
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC 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 2025 |
Visit broker
75% of retail CFD accounts lose money
| Oanda snapshot | |
|---|---|
| Recommended for | Forex traders who value a user-friendly platform and great research tools |
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | No |
| Minimum deposit | $0 |
| Inactivity fee | Yes |
| Easiness of account opening | 4.4 stars |
| Read review | For a detailed analysis of Oanda services, check out our review for 2025 |
Visit broker
eToro securities trading offered by eToro USA Securities Inc, member of FINRA & SIPC. Investing involves risk.
| eToro snapshot | |
|---|---|
| Recommended for | Traders interested in social trading (i.e. copying other investors’ trades) and stock trading with low fees |
| Trading fee class | Low |
| Fractional share dealing | Yes |
| OTC share dealing | No |
| Minimum deposit | $100 |
| Inactivity fee | Yes |
| Easiness of account opening | 5.0 stars |
| Read review | For a detailed analysis of eToro services, check out our review for 2025 |
| Ally Invest snapshot | |
|---|---|
| Recommended for | Investors and traders looking for low fees and focusing on the US market |
| Trading fee class | Low |
| Fractional share dealing | No |
| OTC share dealing | Yes |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Easiness of account opening | 4.4 stars |
| Read review | For a detailed analysis of Ally Invest services, check out our review for 2025 |
Didn't find the best broker for you?
Answer a few questions and get a personalized broker list!
Get a personalized broker recommendation
How did we come up with this list of best discount brokers in 2025 ?
A great broker with low fees is the backbone of many trading strategies.
- So we checked trading fees, with a special focus on stock and ETF fees,
- We scrutinized non-trading fees (e.g. inactivity fees and withdrawal fees),
- We took measure of their investment product selection,
- We opened an account and tested their services with our own money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
FAQ
What is a discount broker?
A discount stock broker is a brokerage company that executes your buy and sell orders at a low trading fee. Discount brokers can afford to charge lower fees because, unlike full-service brokers, they usually don't provide extra services such as research, personal investment advice, tax planning or robo-advisory.
The difference between full-service brokers and discount brokers has blurred somewhat in recent years. Discount brokers started to offer extra services as well, like research; while full-service brokers started to lower their fees. The traditional brokerage and wealth management industry is under fee pressure from increasingly cost-effective online broker companies.
Many US brokers have slashed their fees to zero and now promote commission-free trading, following in the footsteps of brokers such as Robinhood. Drawbacks for some of these commission-free brokers include the limited number of assets you can trade (for example, mutual funds are less likely to be offered), so some investors and traders still prefer traditional discount brokers, where order execution also tends to be better compared with zero-commission brokers.
How did BrokerChooser pick the best discount brokers?
We tested brokers based on more than 600 criteria, using real accounts and real money. When we selected the best discount brokers, the primary selection criteria were fees. Importantly, we only included brokers where you can trade real stocks. This means that we excluded brokers where stocks were only offered through CFDs.
We calculated the rankings based on trading fees for all asset classes, such as stock fees; as well as fees not directly related to trading, such as withdrawal fees. We also assigned a higher score to brokers that offer a wide range of asset classes, because providing low fees in more than one asset class is not an easy job and definitely a big plus for investors.
Lastly, we incorporated additional criteria to measure the overall quality of the broker: if the account opening process, customer service and other aspects of the broker are high quality, they all boosted the overall score.
Are these brokers reliable?
These brokers are all considered reliable. They are regulated by at least one top-tier financial authority. We at BrokerChooser distinguish between mid-tier and top-tier regulators, based on various factors with the most important being the investor protection amount.
Still unsure? Check out our broker finder tool and find the best broker for you, or learn more about how to invest your money.
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.
