Picks are based on features, costs, and retirement tools, not on whether a company pays us. All links below are plain links to the provider's own site. Fees change, so we show the date we checked each one. Confirm current pricing before you open an account.
$0 stock trades, $0.65 options contracts, no minimum deposit
Key takeaways
Updated 2026-10-28.
Look at the total cost of the account, not just “$0 trades”: fund expense ratios, transfer-out fees, and advisory or account fees add up over a long retirement.
Check any broker on FINRA BrokerCheck before opening an account. SIPC protection covers missing customer assets if a brokerage fails, not market losses.
For retirees, IRA support, required minimum distribution (RMD) tools, and easy withdrawals matter as much as research tools.
Families should look for trusted-contact, beneficiary, and power-of-attorney support so a helper can step in when needed.
Our reviews
Pick #1
Fidelity
Best overall
Our rating: Not star-rated. Qualitative award; see Methodology.
Key data (checked 2026-10-28)
$0 commissions on online US stock, ETF, and options trades; $0.65 per options contract
No minimum to open an account
Fidelity ZERO index funds (FZROX, FNILX, FZILX, FZIPX) with 0% expense ratios
RMD calculator/automatic distributions and qualified charitable distribution (QCD) tools
Bonds bought through a representative: $19.95 minimum markup
Why we chose it
Fidelity combines $0 online trades, no account minimums, and retirement-income tools (RMDs, QCDs) that matter most once withdrawals start.
Pros
No account minimums
Zero-expense-ratio index funds
Strong RMD and QCD support
Investor centers for in-person help
Cons
ZERO funds can't be transferred in-kind to another broker
Broker-assisted bond trades carry a markup
The website has a lot of menus, which can be a lot for new investors
Who should skip it
Very active traders who want per-share pricing or wide international market access.
Figures change often. Each row shows the date we checked it; confirm on the provider's site before you decide.
Provider
Online stock/ETF trades
Options (per contract)
Account minimum
Notable fees
Checked
Fidelity
$0
$0.65
None
$19.95 min markup on rep-assisted bonds
2026-10-28
Charles Schwab
$0
$0.65
None
$25 broker-assisted trades
2026-10-28
Vanguard
$0
$0–$1 by asset tier
None for brokerage; fund minimums vary
$25 annual fee (waivable); $100 full transfer-out
2026-10-28
Interactive Brokers
$0 (Lite) / from $0.0035–$0.005 per share (Pro)
See IBKR schedule
None
No platform fees
2026-10-28
E*TRADE
$0
$0.65 ($0.50 tier)
None
$25 broker-assisted; $75 full transfer-out
2026-10-28
How to choose
Most people saving for or living in retirement don’t need an active-trading platform. They need a low-cost, well-protected place to hold IRAs and taxable investments, and a way to take money out on a schedule.
Start with protection. U.S. brokers that hold customer accounts are generally members of FINRA and SIPC. You can look up a firm’s registration and disciplinary history on FINRA BrokerCheck. SIPC protection helps if a member brokerage fails and customer assets are missing. It does not protect you from investments losing value.
Add up the real costs. Many brokers advertise $0 commissions on stock and ETF trades. Ask about the costs that remain: fund expense ratios, fees on some mutual funds, account transfer-out fees, paper statement fees, and fees for broker-assisted trades by phone. A small yearly fee difference compounds over a 20- or 30-year retirement.
Check retirement tools. If you or a parent is at or near RMD age, look for a broker that calculates the required minimum distribution and can send it automatically. The IRS sets the rules and penalties for missed RMDs, so automation is worth having.
Plan for help. Ask how the broker handles a trusted contact person, a power of attorney, and beneficiary or transfer-on-death designations. These features make it much easier for a family member to help during an illness, or after a death, without a scramble.
Know when you want advice. If you’d rather have someone build and rebalance a portfolio for you, compare robo-advisors or a fee-only adviser, and ask how they’re paid. Every SEC-registered broker and adviser serving retail investors must give you a Form CRS that explains services, fees, and conflicts.
Frequently asked questions
Is my money safe at an online broker?
Look for FINRA and SIPC membership. SIPC protects customer assets if a member firm fails (up to limits SIPC publishes). It does not cover market losses.
What’s the difference between a broker and a robo-advisor?
A broker lets you buy and sell investments yourself. A robo-advisor builds and manages a portfolio for you, usually for an advisory fee.
Can I hold an IRA at an online broker?
Most major online brokers offer traditional and Roth IRAs. Confirm rollover help and any account fees.
Do brokers handle required minimum distributions?
Many do, but tools vary. Check whether the broker calculates your RMD and can schedule automatic withdrawals.
How can I help a parent with their brokerage account?
Ask the broker about adding a trusted contact, its power-of-attorney process, and beneficiary designations. Each firm has its own forms.
Are $0 commissions really free?
Not always. Check fund expense ratios, transfer-out fees, and phone-trade fees.
Where do I check a broker’s record?
Use FINRA BrokerCheck for firms and individual brokers.
Methodology
We reviewed 5 providers' public pricing, rate, and disclosure pages on 2026-10-28. We don't assign star scores. Each pick gets a qualitative "Best for…" award based on the criteria below, and "Preliminary" marks picks where our research is still thin. Partner or affiliate status plays no role in which providers we pick or how we rank them.
We evaluated providers on:
Costs: commissions, options/contract fees, mutual fund and ETF availability without transaction fees, account and transfer-out fees
Protection and oversight: FINRA membership, SIPC membership, BrokerCheck disclosures
YouRetire Editorial writes for families planning retirement and care. We use regulator and government sources, show when we last checked data, and don’t let partners buy ratings. Read how we review and our editorial standards.
This guide is educational and not individual financial, tax, insurance, or legal advice.
YouRetire uses essential cookies for security, sessions, and site functionality. With your permission, we may also use cookies to understand site usage and improve retirement planning tools.
