Best Brokerage Accounts for Index Funds: 2025 Picks

Robinhood simplifies investing with its innovative, beginner-friendly mobile app featuring an intuitive design and agile interface.

Trade commission-free index funds with as little as $1, enjoy 24/5 market access and benefit from an IRA that pays up to 3% in matching contributions. Additionally, earn 4% APY on your uninvested cash with Robinhood Gold.

• Why we like it

  Robinhood simplifies investing with its innovative, beginner-friendly mobile app featuring an intuitive design and agile interface.

  Trade commission-free index funds with as little as $1, enjoy 24/5 market access and benefit from an IRA that pays up to 3% in matching contributions. Additionally, earn 4% APY on your uninvested cash with Robinhood Gold.

• Pros and cons

  Pros

  • Commission-free index ETFs
  • 24/5 market
  • Intuitive trading platforms
  • Earn 3% in IRA matching contributions with Robinhood Gold
  • Earn 4% APY on uninvested cash with Robinhood Gold

  Cons

  • No robo-advisor
  • No index mutual funds
  • Limited advanced tools unless you upgrade to Robinhood Gold

• More details

  Available asset types	Stocks, Options, ETFs, Cryptocurrency, Futures
  Account types	Brokerage, IRA, Margin
  Annual fee	$0 per year
  Minimum deposit	$0
  Signup bonus	Get a free stock
  Cash sweep APY	4%

Public emphasizes transparency and stands out as one of the few brokers in the industry that doesn't use payment for order flow (PFOF).

Trade commission-free index ETFs with as little as $5 on Public's intuitive and user-friendly platform and earn 4.1% APY on your uninvested cash.

• Why we like it

  Public emphasizes transparency and stands out as one of the few brokers in the industry that doesn't use payment for order flow (PFOF).

  Trade commission-free index ETFs with as little as $5 on Public's intuitive and user-friendly platform and earn 4.1% APY on your uninvested cash.

• Pros and cons

  Pros

  • Commission-free index ETFs
  • Earn 4.1% APY on your uninvested cash
  • User-friendly platform

  Cons

  • No index mutual funds
  • Advanced data and analysis requires a Public Premium subscription

• More details

  Available asset types	Stocks, Bonds, Options, ETFs, Cryptocurrency, Alternatives, Retirement, Treasury Bills, High-yield cash account
  Account types	Brokerage, IRA
  Annual fee	$0 per month
  Minimum deposit	$0
  Signup bonus	Get up to $10,000 and transfer fees covered
  Cash sweep APY	4.1%

Trade commission-free index ETFs with as little as $1, automate your investing and rebalance your portfolio with a single click.

Choose from M1's expertly crafted model portfolios or build custom pies of index ETFs tailored to your preferences.

• Why we like it

  Trade commission-free index ETFs with as little as $1, automate your investing and rebalance your portfolio with a single click.

  Choose from M1's expertly crafted model portfolios or build custom pies of index ETFs tailored to your preferences.

• Pros and cons

  Pros

  • Earn 4.00% APY on uninvested cash
  • Brokerage accounts and IRAs
  • Model portfolios for easy investing
  • Auto investing and one-click rebalancing
  • User-friendly platform

  Cons

  • $3 platform fee if assets under $10,000
  • No index mutual funds

• More details

  Available asset types	Stocks, ETFs, Cryptocurrency
  Account types	Brokerage, IRA
  Annual fee	$3 per month
  Minimum deposit	$100
  Signup bonus	N/A
  Cash sweep APY	4.00%

• Partner terms and conditions

  M1 Finance, LLC does not charge commission, trading, or management fees for self-directed brokerage accounts. You may still be charged other fees such as M1’s platform fee, regulatory fees, account closure fees, or ADR fees. For a complete list of fees M1 may charge visit M1 Fee Schedule.
  M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc.. M1 High –Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC.
  Obtaining stated APY (annual percentage yield) with the M1 High-Yield Savings Account does not require a minimum account balance. Stated APY is accrued on account balance. APY is solely determined by M1 Spend LLC and its partner banks, and will include account fees that will reduce earnings. Rates are subject to change without notice. M1 High-Yield Savings Account is a separate offering from, and not linked to, the M1 High-Yield Cash Account offered by M1 Finance, LLC. M1 is not a bank.

SoFi Invest offers one of the most user-friendly trading experiences among the brokers we review, providing easy market access with a robo-advisor option for automated investing.

Trade no-fee commission SoFi exchange-traded funds (ETFs) and third-party index funds with as little as $5. Additionally, SoFi provides access to credentialed financial planners, a valuable service that often costs hundreds of dollars per session. SoFi Plus members enjoy as many appointments with financial planners as they like during their eligibility period, while non-SoFi Plus members are limited to one appointment.

• Why we like it

  SoFi Invest offers one of the most user-friendly trading experiences among the brokers we review, providing easy market access with a robo-advisor option for automated investing.

  Trade no-fee commission SoFi exchange-traded funds (ETFs) and third-party index funds with as little as $5. Additionally, SoFi provides access to credentialed financial planners, a valuable service that often costs hundreds of dollars per session. SoFi Plus members enjoy as many appointments with financial planners as they like during their eligibility period, while non-SoFi Plus members are limited to one appointment.

• Pros and cons

  Pros

  • No-fee commission index ETFs
  • 1% in matching IRA contributions
  • Access to SoFi's credentialed financial planners
  • Proprietary SoFi ETFs

  Cons

  • Limited research and analysis tools
  • Low interest on uninvested cash
  • $25 inactivity fee

• More details

  Available asset types	Stocks, Options, Mutual funds, ETFs, Alternatives
  Account types	Brokerage, IRA
  Annual fee	$0 per month
  Minimum deposit	$0
  Signup bonus	Get up to $1,000 in stock
  Cash sweep APY	0.01%

• Partner terms and conditions

  INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
  
  Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
  
  Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).
  
  There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
  
  Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options
  
  Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.
  
  Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information
  
  Up to $1,000 in stock. Customer must fund their Active Invest account with at least $50 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
  
  SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
  
  Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.
  
  unlimited 1% match on recurring deposits to a SoFi InvestⓇ account, paid in rewards points. Must be a SoFi Plus member at the time a recurring deposit is received into your SoFi Active or Automated investing account to qualify. Bonus calculated on net monthly recurring deposits made via ACH and paid out as Rewards Points. See Rewards Terms of Service. SoFi reserves the right to change or terminate this promotion at any time without notice. See terms and limitations. https://www.sofi.com/sofiplus/invest/#disclaimers
  
  1% bonus when you transfer your portfolio to SoFi Active Invest. For full promotion terms please visit: SoFi.com/ACATterms. You must transfer at least $20,000 before April 17, 2025 and keep the investments in your SoFi Active Invest account through December 31, 2025 to be eligible for the incentive, which will be paid by January 31, 2026. SoFi does not accept cryptocurrencies and has some limitations on mutual funds and OTC stock.
  
  Robo Advisor:
  Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser.
  0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and record keeping services separately.

Cash App's commission-free trades, ease of use and fractional share trading make it an excellent choice for beginners investing in index funds.

Start investing with as little as $1, and seamlessly send and receive shares with just a few taps.

• Why we like it

  Cash App's commission-free trades, ease of use and fractional share trading make it an excellent choice for beginners investing in index funds.

  Start investing with as little as $1, and seamlessly send and receive shares with just a few taps.

• Pros and cons

  Pros

  • Commission-free index ETFs
  • User-friendly platform
  • Send and receive shares

  Cons

  • Only available on mobile
  • No robo-advisor
  • No index mutual funds
  • No IRAs
  • Limited research and analysis tools

• More details

  Available asset types	Stocks, ETFs, Cryptocurrency
  Account types	Brokerage, Custodial
  Annual fee	$0 per month
  Minimum deposit	$0
  Signup bonus	N/A
  Cash sweep APY	4%

Moomoo offers advanced, customizable charting and free access to professional-grade tools, such as Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.

Track market capital flow to optimize transaction timing, view position cost distribution and other technical indicators and use Moomoo's Sentiment Indicator for a quick overview of the overall status of all technical indicators.

• Why we like it

  Moomoo offers advanced, customizable charting and free access to professional-grade tools, such as Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.

  Track market capital flow to optimize transaction timing, view position cost distribution and other technical indicators and use Moomoo's Sentiment Indicator for a quick overview of the overall status of all technical indicators.

• Pros and cons

  Pros

  • Commission-free index ETFs
  • Advanced trading tools and features on an intuitive trading platform
  • Earn 4.1% APY on uninvested cash

  Cons

  • No robo-advisor
  • No index mutual funds
  • Limited account types with no IRAs

• More details

  Available asset types	Stocks, Options, ETFs
  Account types	Brokerage
  Minimum deposit	$0
  Signup bonus	Get up to 60 free stocks
  Cash sweep APY	Up to 8.1%

eToro offers a user-friendly mobile app featuring advanced charts and a community of over 35 million social investors.

Trade commission-free index ETFs with as little as $10.

• Why we like it

  eToro offers a user-friendly mobile app featuring advanced charts and a community of over 35 million social investors.

  Trade commission-free index ETFs with as little as $10.

• Pros and cons

  Pros

  • Commission-free index ETFs
  • Advanced charts and analysis tools
  • Social community

  Cons

  • No index mutual funds
  • No robo-advisor
  • No IRAS

• More details

  Available asset types	Stocks, Options, ETFs, Cryptocurrency, Futures, Investments
  Account types	Brokerage
  Annual fee	$0 per month
  Minimum deposit	$0
  Signup bonus	N/A
  Cash sweep APY	3.9%

Webull offers a user-friendly trading platform featuring advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information.

Trade commission-free index ETFs with as little as $5, or automate your index investing with Webull's robo-advisor, Smart Advisor.

• Why we like it

  Webull offers a user-friendly trading platform featuring advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information.

  Trade commission-free index ETFs with as little as $5, or automate your index investing with Webull's robo-advisor, Smart Advisor.

• Pros and cons

  Pros

  • Commission-free index ETFs
  • Robo-advisor
  • Advanced trading tools and features on an intuitive trading platform
  • Earn 5% APY on your uninvested cash
  • 24/7 customer support

  Cons

  • No index mutual funds
  • $2.99 per month for Level 2 data access

• More details

  Available asset types	Stocks, Bonds, Options, ETFs, Futures, Money market funds
  Account types	Brokerage, IRA
  Annual fee	$0 per month
  Minimum deposit	$0
  Signup bonus	Get 20 free fractional shares
  Cash sweep APY	Up to 4.10%

Interactive Brokers offers a variety of commission-free index ETFs and mutual funds, along with several feature-rich trading platforms and UGMA/UTMA accounts for minors.

Trade fractional shares of index funds with as little as $1, or choose an automated portfolio of actively managed funds with Interactive Advisors.

• Why we like it

  Interactive Brokers offers a variety of commission-free index ETFs and mutual funds, along with several feature-rich trading platforms and UGMA/UTMA accounts for minors.

  Trade fractional shares of index funds with as little as $1, or choose an automated portfolio of actively managed funds with Interactive Advisors.

• Pros and cons

  Pros

  • Commission-free index ETFs and mutual funds
  • UGMA/UTMA accounts for minors
  • Several trading platforms for different experience levels

  Cons

  • Live chat rarely works
  • No instant buying power
  • Cash sweep only available to Pro accounts

• More details

  Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures, Forex, Treasury Bills
  Account types	Brokerage, IRA, Custodial, Joint brokerage, Trust
  Annual fee	$0 per year
  Minimum deposit	$0
  Signup bonus	N/A
  Cash sweep APY	3.83% Lite 4.83% Pro

Minors and parents with children looking to start investing will find E*TRADE an excellent choice. As a pioneer of online trading, E*TRADE offers a diverse lineup of account types, including custodial brokerage accounts, IRAs for minors and Coverdell Education Savings Accounts.

Trade commission-free index ETFs and mutual funds, with 24/5 trading on select ETFs. Additionally, E*TRADE's robo-advisor, Core Portfolios, provides a straightforward, automated portfolio management option.

• Why we like it

  Minors and parents with children looking to start investing will find E*TRADE an excellent choice. As a pioneer of online trading, E*TRADE offers a diverse lineup of account types, including custodial brokerage accounts, IRAs for minors and Coverdell Education Savings Accounts.

  Trade commission-free index ETFs and mutual funds, with 24/5 trading on select ETFs. Additionally, E*TRADE's robo-advisor, Core Portfolios, provides a straightforward, automated portfolio management option.

• Pros and cons

  Pros

  • Custodial brokerage, custodial IRAs and Coverdell ESAs
  • Commission-free index ETFs and mutual funds
  • Robo-advisor

  Cons

  • No fractional share investing
  • Low interest on uninvested cash
  • No instant buying power

• More details

  Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, CDs, Futures
  Account types	Brokerage, IRA, Education (529), Custodial, Joint brokerage
  Annual fee	$0 per year
  Minimum deposit	$0
  Signup bonus	Get up to $1,000 terms apply
  Cash sweep APY	0.01% to 0.15%

Schwab provides access to over 3,000 index mutual funds and ETFs, along with trading in 33 of its proprietary index mutual funds and ETFs that span US equity, international equity and US fixed-income markets. All index ETFs are commission-free.

Additionally, benefit from a robo-advisor, personalized financial advisory services and the renowned thinkorswim trading platform.

• Why we like it

  Schwab provides access to over 3,000 index mutual funds and ETFs, along with trading in 33 of its proprietary index mutual funds and ETFs that span US equity, international equity and US fixed-income markets. All index ETFs are commission-free.

  Additionally, benefit from a robo-advisor, personalized financial advisory services and the renowned thinkorswim trading platform.

• Pros and cons

  Pros

  • Commission-free index ETFs and select mutual funds
  • Proprietary Schwab index funds and mutual funds
  • Top-tier third-party research
  • Brokerage accounts and IRAs

  Cons

  • Low interest on uninvested cash
  • No instant buying power

• More details

  Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Futures, Treasury Bills
  Account types	Brokerage, Education (529), Custodial, Joint brokerage, Trust
  Annual fee	$0 per month
  Minimum deposit	$0
  Signup bonus	Get a $101 bonus
  Cash sweep APY	0.45%

Trade 28 Fidelity index mutual funds, including equity, fixed income and hybrid options, along with 13 Fidelity Freedom Index Funds and 21 Fidelity index ETFs. Additionally, access over 370 third-party index mutual funds and more than 1,840 third-party index ETFs.

Invest with as little as $1, or automate your investments with Fidelity's robo-advisor.

• Why we like it

  Trade 28 Fidelity index mutual funds, including equity, fixed income and hybrid options, along with 13 Fidelity Freedom Index Funds and 21 Fidelity index ETFs. Additionally, access over 370 third-party index mutual funds and more than 1,840 third-party index ETFs.

  Invest with as little as $1, or automate your investments with Fidelity's robo-advisor.

• Pros and cons

  Pros

  • Commission-free index ETFs and mutual funds
  • 24/7 customer support
  • Brokerage accounts and IRAs
  • Cash sweep program with competitive yields
  • Robo-advisor

  Cons

  • $25,000 minimum to access a Fidelity financial advisor
  • Dated desktop trading platform

• More details

  Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Gold/Commodities, CDs, Treasury Bills
  Account types	Brokerage, IRA, Custodial, Joint brokerage, Trust
  Annual fee	$0 per year
  Minimum deposit	$0
  Signup bonus	N/A
  Cash sweep APY	4.95%

Trade a wide variety of commission-free Vanguard index mutual funds and ETFs, including options in stock, bond, balanced, international, ESG and target-date funds.

Trade index ETFs with as little as $1, and access both Vanguard's human and automated advisory services.

• Why we like it

  Trade a wide variety of commission-free Vanguard index mutual funds and ETFs, including options in stock, bond, balanced, international, ESG and target-date funds.

  Trade index ETFs with as little as $1, and access both Vanguard's human and automated advisory services.

• Pros and cons

  Pros

  • Wide variety of index mutual funds and ETFs
  • Robo-advisor
  • Brokerage accounts and IRAs
  • Human advisory services

  Cons

  • $25 annual fee
  • No instant buying power

• More details

  Available asset types	Stocks, Options, Mutual funds, ETFs
  Account types	Brokerage, IRA, Education (529), Custodial, Trust
  Annual fee	$20 per year
  Minimum deposit	$50,000
  Signup bonus	N/A
  Cash sweep APY