Why trust NerdWallet
Our deep, independent analysis cuts through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating brokers and for evaluating robo-advisors.
Over 60 investment account providers reviewed and rated by our expert Nerds.
More than 50 years of combined experience writing about finance and investing.
Hands-on testing of the account funding process, provider websites and day trading platforms.
When you’re a beginner investor, the right broker is more than a platform for buying stocks — it should also offer investing educational resources. Whether you’re looking for a beginner-friendly platform to trade stocks or just want to build a portfolio of long-term investments like mutual funds, you’ll find an option on our list below.
Note: All of the brokers we review and list here uphold high standards for security and carry SIPC insurance, which provides coverage of up to $500,000 for lost or missing assets in the event the brokerage firm fails. They are also regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
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Read our detailed methodology
NerdWallet’s comprehensive review process evaluates and rates the largest U.S. brokerage firms by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which one will best meet your needs.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors.
We score each online broker against a set of criteria that factors in both the features offered and the actual user experience of using those features. This includes how easy it is to sign up for and fund a new account. Note that a broker may score highly for the stock trading platforms, tools or research it offers, but low for the experience of actually using those features. This means a broker can offer an advanced stock trading platform, but if it is clunky to use or the process of opening an account is unnecessarily arduous, that will be reflected in their score.
The final output produces star ratings from poor (one star) to excellent (five stars). For more details about the categories considered when rating brokers and our process, read our full methodology.