Broker Roundup — Updated July 2026
Best Investing Apps for Beginners
Fidelity, Charles Schwab, Robinhood, and Vanguard compared side by side — minimums, commissions, fractional shares, and who each one is actually built for.
Quick answer
Fidelity is our default pick for most beginners — zero minimums, zero-fee index funds, and a full cash management account in one place. Schwab is the pick if you travel internationally and want ATM fee reimbursement worldwide. Robinhood wins on pure simplicity and the fastest signup-to-first-trade of any app. Vanguard is worth it if you're building a buy-and-hold portfolio and want a fund company structurally aligned to keep your fees low forever.
The Comparison
| Broker | Account Min. | Commissions | Fractional Shares | Standout Feature | Get Started |
|---|---|---|---|---|---|
FidelityOur Pick | $0 | $0 | Yes, from $1 | FZROX and FZILX — proprietary index funds at a 0.00% expense ratio, plus a full cash management account bundled in | Open Fidelity |
Charles Schwab Best for travelers who want a bank + broker | $0 brokerage ($5,000 for robo portfolios) | $0 | Yes, from $5 (Stock Slices) | Schwab's brokerage debit card reimburses ATM fees worldwide — a real perk for frequent travelers | Open Schwab |
Robinhood Best for the fastest signup and simplest UI | $0 | $0 | Yes, from $1 | The cleanest onboarding of any broker, plus a Gold tier ($5/mo) that boosts your cash APY and IRA match | Open Robinhood |
Vanguard Best for buy-and-hold fund investors | $0 to open (many mutual funds require $1,000+) | $0 | Limited — mainly via Vanguard ETFs | Investor-owned structure gives it a built-in, permanent incentive to keep fund fees near zero | Open Vanguard |
Figures as of July 2026. Commissions and minimums are checked periodically, but fee schedules can change — confirm current terms on each provider's site before opening an account.
How We Picked
We limited this roundup to full-service brokers a true beginner can open, fund, and buy a diversified index fund in within 15 minutes — no options approval, no minimum deposit wall, no confusing account types. Fidelity, Schwab, Robinhood, and Vanguard all clear that bar and are also where Speedrun Finance has affiliate relationships, disclosed below. That relationship doesn't change what you pay or which broker we'd actually recommend — Fidelity has topped this list since we started covering brokers, affiliate or not.
Frequently Asked Questions
Why is Fidelity the pick over Schwab or Robinhood?
It's the combination: no minimums, no fees, fractional shares from $1, genuinely free research tools, and FZROX/FZILX — index funds at a literal 0.00% expense ratio, which no competitor matches. Schwab and Robinhood are both excellent — Schwab wins if you travel internationally, Robinhood wins if you want the absolute simplest first-time experience — but Fidelity is the broker that scales with you from your first $10 deposit to a full retirement portfolio.
Do these apps actually charge $0 in commissions?
Yes, for standard stock and ETF trades — commission-free trading has been the industry standard since 2019. Where fees still show up is options contracts, mutual funds outside a provider's no-fee list, and margin interest. Read the fee schedule before trading anything beyond plain stocks and ETFs.
What does 'fractional shares' actually mean for a beginner?
It means you can buy a $10 slice of a $500 stock instead of needing $500 up front. This matters most for beginners with small amounts to invest, or for building a diversified position in expensive stocks without waiting to save up a full share.
Is Robinhood safe to use as my only brokerage?
Yes — like the others here, Robinhood is a registered broker-dealer with SIPC coverage up to $500,000 (including $250,000 in cash) if the firm itself fails. That's separate from market risk, which applies to any brokerage. For most beginners we'd still steer toward Fidelity as a primary account, with Robinhood as a fine complement for its sign-up bonus and simple UI.
Should I pick a robo-advisor instead of a self-directed broker?
If you'd rather not choose your own funds, a robo-advisor (Betterment, Wealthfront, or Schwab Intelligent Portfolios) builds and rebalances a portfolio for you, usually for a small annual fee. All four brokers above also let you buy a single total-market index fund and get nearly the same result for less — see our index funds guide for the DIY version.
Ready to open one?
Start with Fidelity, then compare the rest
All four brokers above take about 10-15 minutes to open, charge $0 commissions on stocks and ETFs, and let you start with a small deposit. If you want the single best default for a first brokerage account, start with Fidelity.
Affiliate disclosure: Speedrun Finance may earn a commission if you open an account through the links on this page. This does not affect the fees you pay or cost you anything extra.