We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Best Low-Cost Brokers for July 2026 By Stella Osoba Full Bio Stella Osoba is the Senior Editor of trading and investing at Investopedia. She co-founded and chaired Women in Technical Analysis. She has 15+ years of experience as a financial writer and technical analyst. Learn about our editorial policies Updated June 29, 2026 Best Low-Cost Brokers for July 2026 View All Best Low-Cost Brokers for July 2026 Top Picks Fidelity Interactive Brokers Charles Schwab See More (2) Webull Robinhood Why You Should Trust Us How Does a Discount Broker Work? Companies We Reviewed Methodology Fidelity is our pick as the best low-cost broker in 2026, thanks to its rock-bottom fees, extensive investment selection, quality platform, and excellent service. Other brokers, such as Interactive Brokers, Webull, and Robinhood, also stood out for having the lowest fees across margin rates, options trading, and crypto. To identify the best low-cost brokers, we researched 24 brokers across 90 criteria and generated more than 2,000 data points. We zeroed in on factors such as trading commissions, platform fees, margin rates, and other costs that squeeze investors, in order to find brokers that deliver high-quality service at a reasonable cost. Best Low-Cost Brokers for July 2026 Best Overall: Fidelity Best for Low Margin Rates, Best for Low-Cost Futures Trading: Interactive Brokers Best for Free Education: Charles Schwab Best for Low-Cost Options Trading: Webull Best for Casual Low-Cost Crypto Trading: Robinhood Best Overall : Fidelity Account Minimum: $0Fees: $0 commissions for online stocks and ETF trades, $0.65 per contract for options Open Account (opens in a new tab) Why We Chose It We selected Fidelity as the best low-cost broker due to its commission-free stock and ETF trades, lack of payment for order flow (PFOF) on those trades, competitive pricing across other asset classes, and minimal miscellaneous fees. Fidelity’s platform delivers these low costs while still providing all the benefits of a full-service brokerage, such as user-friendly yet powerful trading platforms across all devices, great customer support, and a wide selection of assets. Pros & Cons Pros $0 commissions for stocks and ETFs No PFOF on stock and ETF trades Low margin rates Extensive investment selection High-quality support, including physical branches Cons Charges commissions on products such as mutual funds, fixed income, and bonds Doesn’t offer futures trading Cryptocurrency selection is limited Could improve its virtual assistant and portfolio analysis tools Overview Fidelity has been a long-time leader in affordable investing, so it’s no surprise it was our top pick for best low-cost broker. Unlike the competition, however, Fidelity can do so while still providing all the benefits of a traditional full-service brokerage. The company has solid trading platforms for every device, offers nearly every account type imaginable, and supports many asset types, including cryptocurrencies. It has a reputation for excellent customer support, even maintaining a network of physical locations–something very few brokers can boast about in 2026. Importantly, unlike most online brokers and even its arch-rival Schwab, Fidelity doesn’t accept payment for order flow on stock and ETF trades, which can lead to better execution prices. Lastly, the interest rate it pays on unused cash is among the best in the industry. Founded in 1946 and headquartered in Boston, Fidelity has long been a household name in the brokerage industry. Today it is one of the largest brokerages in the world. Best for Low Margin Rates, Best for Low-Cost Futures Trading : Interactive Brokers Interactive Brokers Account Minimum: $0.00Fees: $0 commission for stocks and ETFs (Lite plan); tiered pricing for Pro accounts based on volume. $0.65 per options contract on both plans, with Pro pricing scaled by volume. Open Account (opens in a new tab) Why We Chose It Best Broker for Low Margin Rates Interactive Brokers (IBKR) margin rates are among the industry’s lowest, and drop further for those who borrow large amounts on margin. This makes the platform especially cost-efficient for active traders who rely on leverage as part of their broader portfolio strategy. Best Low-Cost Futures Broker Interactive Brokers offers global futures trading at a competitive starting price per contract of $0.85, and the fee drops to as low as $0.25 per contract for high-volume IBKR Pro clients. This tiered structure makes the platform particularly cost-effective for active futures traders who scale their activity over time. Pros & Cons Pros Offers the lowest margin rates of all the brokers we researched Fees on futures contracts are among the industry's best Strong trade execution that helps you get better prices on trades Broad access to international markets Cons Confusing fee schedule, with different costs across plans Pro trading plan charges commissions May require more time to learn the Trader Workstation than competing platforms Overview More serious investors interested in advanced strategies can still keep their costs low by turning to Interactive Brokers. It charges some of the industry’s lowest borrowing rates to invest. Those who want to trade futures will also find Interactive Brokers’ contract fees among the lowest, especially at higher volumes. Despite its affordability (it even offers no-fee stock and ETF trades on the IBKR Lite plan), the company’s technology and product offerings are by far the most extensive on the market. Interactive Brokers offers access to an unrivaled 170 market centers in 40 countries while providing some of the most advanced trading platforms and competitive execution speeds on the market. Investors on the Pro plan do need to pay trading commissions, but that’s because the Lite plan routes trades through third parties who may execute them for slightly worse prices—which can add up if you’re trading in high volumes. IBKR Pro avoids this payment-for-order-flow model and instead uses SmartRouting to find the best prices. Interactive Brokers was founded in 1977 and is currently headquartered in Greenwich, Connecticut. Best for Free Education : Charles Schwab Charles Schwab Logo Account Minimum: $0Fees: $0 commissions for stock and ETF trades; $0.65 per options contract Open Account (opens in a new tab) Why We Chose It Despite charging extremely low fees, Charles Schwab does not skimp on investor support. We found it offers the most comprehensive range of free educational materials for its users, including articles, videos, webinars, news programming on the Schwab Network, and even in-person seminars at its branches. Pros & Cons Pros Extensive educational materials for investors of all skill levels In-person support and training at branches Low trading fees and commissions Offers backtesting and paper trading to test ideas for free Access to the thinkorswim advanced trading platform Cons Accepts payment for order flow No fractional-share ETF trades Higher margin rates than many competitors Very low interest rate for uninvested cash Overview Charles Schwab is an excellent option for investors who want to learn without paying for a financial advisor. It offers a massive range of free educational materials for investors of all skill levels. Despite this support, Schwab charges some of the lowest broker commissions we found. Schwab also offers paper trading and backtesting. These tools allow you to practice investing with play money and test strategies using real-time or historical data, without risking losses. Schwab does have a few issues. In exchange for not charging commissions, it accepts payment for order flow, which can influence routing. It also does not allow fractional ETF trading, so you’ll need to pay for full shares, which can be tough on a budget. Charles Schwab was founded in 1971 and has its headquarters in Westlake, Texas. Best for Low-Cost Options Trading : Webull Account Minimum: $0Fees: $0 commissions for stocks, ETFs, and options Open Account (opens in a new tab) Why We Chose It Webull is our top pick for low-cost options trading, as it offers a powerful trading platform and does not charge options contract fees in most situations. While it does apply fees to oversized options trades, the platform’s overall options-optimized experience and low baseline costs still make it one of the most competitive low-cost offerings in the market. Pros & Cons Pros Offers commission-free, fee-free options trading in most situations No commissions on U.S. stock and ETF trades Solid research, charting, and general options-trading user experience Easy to set up an account and get options trading approval Cons Charges options contract fees on bulk trades Payment for order flow may reduce trade execution quality Limited range of tools for portfolio management No access to fixed income or mutual funds Overview Webull delivers an exceptional experience for budget-minded options traders. It also stands out for not charging option contract fees in most situations. Despite marketing itself as a discount broker, Webull’s overall offering is quite impressive. The company has solid trading platforms with advanced tools and analytics, especially for options. It supports a wide range of tradable assets, including more exotic instruments such as futures, fractional shares, and OTC stocks. It is also one of a handful of brokers that support 24-hour trading. Lastly, the company has competitive margin rates and pays a high interest rate on uninvested cash. Like many other low-cost brokers, Webull does accept payment for order flow on trades. It also charges a $0.10 per-contract fee for oversized options orders (defined as orders over 500 contracts) and a $0.50 contract fee on certain index options. Webull Financial LLC, the company’s U.S. brokerage entity, was incorporated in 2017. Its headquarters is in St. Petersburg, Florida. Best for Casual Low-Cost Crypto Trading : Robinhood Robinhood Account Minimum: $0Fees: 0% on some trades; 0.03%–0.85% on others, depending on routingCurrencies: 71 Open Account (opens in a new tab) Why We Chose It Robinhood delivers a streamlined crypto trading experience with a $0 commission structure that is especially appealing for lower-frequency trading, where fixed fees at other brokers can eat into returns. Instead of charging commissions, Robinhood incorporates a spread into the execution price, keeping the process straightforward for users who want to trade crypto alongside stocks in a unified, mobile-first app. These embedded costs can accumulate over time for those trading more frequently, however. Pros & Cons Pros Wide selection of cryptocurrencies Competitive overall pricing Staking rewards on select assets Self-custody Web3 wallet access Recurring crypto purchase options Cons Pricing structure can be less transparent than commission-based models Crypto availability limited in certain states (including NY and TX) Fewer advanced trading tools Overview Robinhood’s move into crypto in recent years has been a natural evolution of its "disruptor" origins. The platform’s simplicity and unified experience make it especially convenient for investors who want crypto exposure without added complexity or multiple accounts. The app also includes practical tools, such as price alerts, that help users stay informed in fast-moving markets. Beyond trading, Robinhood supports features such as staking rewards on eligible crypto assets and IRA accounts that may include crypto exposure, reinforcing its goal of combining investing and long-term savings in one ecosystem. While it may lack the depth of analytics and execution tools preferred by advanced traders, it remains a strong fit for users prioritizing ease of use and low-cost access. Founded in 2013 and based in Menlo Park, California, Robinhood pioneered commission-free investing and has since expanded its platform to include digital assets as part of its broader all-in-one investing experience. Survey Insight According to Investopedia's latest Reader Survey, nearly half said they have been buying dips in their favorite stocks, despite more than one-third of respondents believing there is a 50-50 chance of a recession in the next six months. Why You Should Trust Us Investopedia collected 90 criteria that are critical to investors from 24 online brokers. We used this data to review each platform on fees, commissions, margin rates, and other key features, so we could provide unbiased, comprehensive reviews to help our readers make the right decision for their investing needs. Investopedia launched in 1999 and has been helping readers find the best brokers since 2019. How Does a Discount Broker Work? A discount broker executes buy and sell orders for investments at reduced—or zero—commissions. These brokers are typically available online, and unlike full-service brokers, they generally offer little to no personalized investment advice. Many brokers now offer commission-free trading, meaning investors don’t pay fees to buy or sell certain investments—like stocks and exchange-traded funds (ETFs). However, some of these brokers still charge commissions on other types of investments like options and bonds. Note then when brokers offer commission-free trading, they may profit from trades in other ways. Some discount brokers rely on a practice known as payment for order flow (PFOF). With PFOF, brokers receive payments when they route transactions to market makers who execute the transaction. Companies We Reviewed We researched and reviewed 24 online brokers to create our list of the best brokers. Here are all of the companies we researched: Interactive Brokers, tastytrade, Fidelity, Charles Schwab, E*TRADE, Lightspeed, TradeStation, TradeZero, Merrill, Ally Invest, ChoiceTrade, Webull, eToro, SOGOTRADE, Lime Financial, J.P. Morgan SDI, Public, Vanguard, MooMoo, SoFi Active, eOption, Wellstrade, Robinhood, and T. Rowe Price. How We Chose the Best Low-Cost Brokers Providing readers with unbiased, comprehensive reviews of low-cost brokers is a top priority for Investopedia. Our team of researchers, data collectors, and editors pored over provider websites and other online sources to gather data on 90 criteria across 24 companies. We combined our industry research and subject-matter expertise to inform the research and weightings for our 2026 low-cost broker rankings. The data collection process spanned from Dec. 18, 2025, to Jan 30, 2026, and April 7 to 8, 2026. We then developed a proprietary model that scored each company’s performance across 8 major categories to find the best low-cost brokers. The score for each company’s overall rating is a weighted average of the criteria in the following categories: Account Amenities: 27.50%Costs: 17.50%Research Amenities: 15.50%Trading Experience: 14.00%Security: 8.50%Educational Material: 7.00%Customer Service: 6.00%Mobile Amenities: 4.00% For more information, read our full methodology explanation. Investing involves risk, including risk of loss **$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (historically from $0.01 to $0.03 per $1,000 of principal). A limited number of ETFs are subject to a transaction-based service fee of $100. See full list of ETFs subject to this service fee [here]. There is an Options Regulatory Fee that applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.** The Fidelity ETF Screener is a research tool provided to help self-directed investors evaluate these types of securities. The criteria and inputs entered are at the sole discretion of the user, and all screens or strategies with preselected criteria (including expert ones) are solely for the convenience of the user. Expert Screeners are provided by independent companies not affiliated with Fidelity. Information supplied or obtained from these Screeners is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell securities, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy or approach to screening or evaluating stocks, preferred securities, exchange-traded products, or closed-end funds. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from its use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation, and other individual factors, and reevaluate them on a periodic basis. ****Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See [Fidelity.com/commissions] for further details. Before investing, consider the funds’ investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully. Investopedia / Alice Morgan Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Interactive Brokers. “Futures and Futures Options (FOP).” Interactive Brokers. "Discover a World of Opportunities." U.S. Securities and Exchange Commission. “Annual Report, Form X-17A-5.” Page 7. Webull. “Contact Webull.” Linkedin. “Robinhood, About.” Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.