Investing in the S&P 500 is a popular choice for those seeking to build a diversified and resilient portfolio.
However, selecting the right broker is crucial to maximizing your returns and ensuring a seamless trading experience.
To help you make an informed decision, we evaluated 18 brokers on factors like fees, platform usability, investment options, research tools and customer support.
Here are our top picks for the best S&P 500 brokers.
15+ online brokers reviewed and rated by our team of experts
Evaluated under our unbiased rating system covering eight categories
20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
Trade commission-free stocks, options and ETFs, with no per-contract fees for options. Enjoy 24/5 market access and benefit from an IRA offering up to 3% in matching contributions.
Additionally, trade stocks and ETFs with as little as $1, and earn 4.5% APY on your uninvested cash with Robinhood Gold.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get a free stock
Trade commission-free stocks, options and ETFs, with no per-contract fees for options. Enjoy 24/5 market access and benefit from an IRA offering up to 3% in matching contributions.
Additionally, trade stocks and ETFs with as little as $1, and earn 4.5% APY on your uninvested cash with Robinhood Gold.
Pros
Commission-free stocks, ETFs and options
No per-contract fees on options
24/5 market
Earn 3% in IRA matching contributions with Robinhood Gold
Earn 4.5% APY on uninvested cash with Robinhood Gold
Cons
No robo-advisor
No mutual funds
Limited advanced tools unless you upgrade to Robinhood Gold
eToro's suite of trading tools features TipRanks-powered analyst ratings and price targets, hedge fund activity, insider transactions and advanced charts. Trade commission-free stocks, options and ETFs, with no per-contract fees on options.
Additionally, leverage eToro's community of social traders to discuss investments, share insights and discover new trade ideas.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto
eToro's suite of trading tools features TipRanks-powered analyst ratings and price targets, hedge fund activity, insider transactions and advanced charts. Trade commission-free stocks, options and ETFs, with no per-contract fees on options.
Additionally, leverage eToro's community of social traders to discuss investments, share insights and discover new trade ideas.
Pros
Commission-free stocks, ETFs and options
No per-contract fees on options
Interact with over 35 million social traders
Earn 4.9% interest on your options account balance
Advanced charts and analysis tools
Cons
Unavailable in HI, MN, NV and NY
No mutual funds
Limited account types, with no IRAs
Available asset types
Stocks, Options, ETFs, Cryptocurrency
Account types
Brokerage, IRA
Annual fee
$0 per month
Minimum deposit
$0
Signup bonus
FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto
Cash sweep APY
4.9%
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto
Trade commission-free stocks and ETFs with as little as $5, all without the use of payment for order flow (PFOF).
Additionally, Public offers commission-free options with rebates and no per-contract fees, along with a cash account that pays 4.35% APY on your uninvested cash.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $10,000 and transfer fees covered
Trade commission-free stocks and ETFs with as little as $5, all without the use of payment for order flow (PFOF).
Additionally, Public offers commission-free options with rebates and no per-contract fees, along with a cash account that pays 4.35% APY on your uninvested cash.
Pros
Commission-free stocks, options and ETFs
No per-contract fees on options
Earn a rebate on options
Earn 4.35% APY on your uninvested cash
Cons
No index mutual funds
No IRAs
Advanced data and analysis requires a Public Premium subscription
Interactive Brokers offers a variety of trading platforms tailored to investors of all experience levels, from the advanced Trader Workstation and IBKR desktop to the beginner-friendly IBKR GlobalTrader app.
Trade commission-free stocks, ETFs and mutual funds across several account types, including IRAs and UGMA/UTMA accounts.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Interactive Brokers offers a variety of trading platforms tailored to investors of all experience levels, from the advanced Trader Workstation and IBKR desktop to the beginner-friendly IBKR GlobalTrader app.
Trade commission-free stocks, ETFs and mutual funds across several account types, including IRAs and UGMA/UTMA accounts.
Pros
Commission-free stocks, ETFs and mutual funds
Futures trading
Wide variety of account types
Several trading platforms for different experience levels
Trade no-fee commission stocks, options, ETFs and mutual funds, including the SoFi Select 500 ETF. With SoFi, invest in stocks and ETFs with as little as $5 and select S&P 500 mutual funds for just $1. Trade options without per-contract fees.
Additionally, SoFi offers a 1% IRA match on contributions and complimentary access to financial planners, making it a comprehensive choice for new investors.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $1,000 in stock
Trade no-fee commission stocks, options, ETFs and mutual funds, including the SoFi Select 500 ETF. With SoFi, invest in stocks and ETFs with as little as $5 and select S&P 500 mutual funds for just $1. Trade options without per-contract fees.
Additionally, SoFi offers a 1% IRA match on contributions and complimentary access to financial planners, making it a comprehensive choice for new investors.
Pros
No-fee commissions stocks, options, ETFs and mutual funds
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
Probability of Member receiving $1,000 is a probability of 0.028%
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.
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 recordkeeping services separately.
Trade commission-free stocks, options, ETFs and mutual funds across a variety of account types with E*TRADE. Utilize advanced trading tools on the Power E*TRADE platform and access extensive research from reputable sources like Morningstar, Thomas Reuters and Credit Suisse. Additionally, trade select ETFs 24/5.
For those seeking a more hands-off approach, E*TRADE's robo-advisor, Core Portfolios, provides straightforward, automated portfolio management.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to $1,000 terms apply
Trade commission-free stocks, options, ETFs and mutual funds across a variety of account types with E*TRADE. Utilize advanced trading tools on the Power E*TRADE platform and access extensive research from reputable sources like Morningstar, Thomas Reuters and Credit Suisse. Additionally, trade select ETFs 24/5.
For those seeking a more hands-off approach, E*TRADE's robo-advisor, Core Portfolios, provides straightforward, automated portfolio management.
Pros
Commission-free stocks, options, ETFs and mutual funds
Earn up to 40 fractional shares and an extra 2% APY for 30 days when you open an account and make an initial deposit of the qualified amount. T&C apply.
Trade commission-free stocks, options and ETFs with as little as $5, or automate your portfolio with Webull's robo-advisor.
Leverage advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information for informed trading decisions.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Earn up to 40 fractional shares and an extra 2% APY for 30 days
Trade commission-free stocks, options and ETFs with as little as $5, or automate your portfolio with Webull's robo-advisor.
Leverage advanced charts, order flow distribution, short interest data, institutional ownership and holdings data and comprehensive fund information for informed trading decisions.
Pros
Commission-free stocks, options and ETFs
No options per-contract fees
Futures trading
Index options
Robo-advisor
Advanced trading tools and features
Earn 5% APY on your uninvested cash
Cons
No mutual funds
$2.99 per month for Level 2 data access
Available asset types
Stocks, Options, ETFs, Cryptocurrency
Account types
Brokerage, IRA
Annual fee
$0 per month
Minimum deposit
$0
Signup bonus
Earn up to 40 fractional shares and an extra 2% APY for 30 days
Cash sweep APY
4.25%
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Earn up to 40 fractional shares and an extra 2% APY for 30 days
Moomoo offers advanced, customizable charting and free access to professional-grade tools, including Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.
Trade commission-free stocks, options and ETFs, with no per-contract fees on options, and earn 5.1% APY on your uninvested cash.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get up to 15 free stocks
Moomoo offers advanced, customizable charting and free access to professional-grade tools, including Morningstar ratings, comprehensive fund information, data indicators, real-time Level 2 market data and short sale analysis.
Trade commission-free stocks, options and ETFs, with no per-contract fees on options, and earn 5.1% APY on your uninvested cash.
Trade commission-free stocks, options, ETFs and Schwab mutual funds, including proprietary Schwab S&P 500 funds. Schwab's popular thinkorswim platform offers advanced traders access to elite trading tools and resources.
Additionally, Schwab provides direct indexing, a managed account that lets you invest directly in individual stocks within a given index, alongside a robo-advisor for automated investing and personalized financial advisory services.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get a $101 bonus
Trade commission-free stocks, options, ETFs and Schwab mutual funds, including proprietary Schwab S&P 500 funds. Schwab's popular thinkorswim platform offers advanced traders access to elite trading tools and resources.
Additionally, Schwab provides direct indexing, a managed account that lets you invest directly in individual stocks within a given index, alongside a robo-advisor for automated investing and personalized financial advisory services.
Pros
Commission-free stocks, options, ETFs and Schwab mutual funds
Trade commission-free stocks, options, ETFs and Fidelity mutual funds, with access to top-tier research tools, low account fees and competitive cash sweep yields.
Additionally, Fidelity offers direct indexing, a robo-advisor and access to human financial advisors for personalized investment guidance.
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Trade commission-free stocks, options, ETFs and Fidelity mutual funds, with access to top-tier research tools, low account fees and competitive cash sweep yields.
Additionally, Fidelity offers direct indexing, a robo-advisor and access to human financial advisors for personalized investment guidance.
Pros
Commission-free stocks, options, ETFs and Fidelity mutual funds
Brokerage accounts and IRAs
Index options
Cash sweep program with competitive yields
Robo-advisor and human financial advisors
Direct indexing
Cons
No futures trading
$25,000 minimum to access a Fidelity financial advisor
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Methodology: How we choose the best brokers for S&P 500 trading
Finder’s investments experts reviewed 18 brokers to identify the best brokerage accounts for investing in S&P 500 stocks, ETFs, options and futures.
Our analysis is based on 147 key metrics collected directly from brokers, evaluating each platform across eight categories that we weigh based on the expertise and insights of Finder’s investment experts. We then score and rank each provider depending on how it performs in each category.
How we weigh the overall rating
Category
Weighting
Investment options
15%
Trading platforms and technology
20%
Trading costs
20%
Account fees
7%
Account types and minimums
6%
Customer support
7%
Mobile app ratings and security
5%
Features and amenities
20%
We regularly update our best picks as products evolve, ensuring our recommendations reflect the most competitive options available in the market.
Tips for choosing a broker
Finder’s picks for the best brokers for S&P 500 trading are meant to provide you with a starting point for finding the right broker for your investing style and goals.
Consider the following factors when comparing your options:
Fees. From trading fees to miscellaneous fees, it’s important to understand the cost of trading and investing. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees, such as inactivity or transfer fees, that can also eat into your profit.
Tradable assets. Not every broker offers the same investment options. Stocks, options and ETFs are standard, but some brokers offer mutual funds, bonds, futures, forex, crypto and more.
Account types. What other account types, in addition to a brokerage account, does the broker offer? If you’re interested in saving for retirement, compare brokers that offer IRAs. Consider your other investment needs and how important it is to maintain all your accounts under one roof.
Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may not matter all that much. Active stock pickers may feel otherwise.
Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
Signup bonus. While it may not make sense to choose a broker solely based on whether it offers a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.
Common mistakes to avoid
When choosing a broker for trading the S&P 500, it’s crucial to avoid these common pitfalls:
Overlooking fees. High fees can erode your investment returns over time. Ensure you understand the fee structure, including commissions, account maintenance fees and any hidden charges.
Ignoring platform usability. A complex or non-intuitive platform can lead to mistakes and missed opportunities. Opt for brokers that offer user-friendly interfaces and robust mobile apps to facilitate smooth trading.
Neglecting research tools. Comprehensive research tools are essential for making informed investment decisions. Brokers should provide access to analytical tools, real-time data and expert insights.
Disregarding customer service quality. Poor customer service can result in delayed responses and unresolved issues. Choose brokers known for their responsive and helpful customer support to ensure assistance is available when needed.
Compare and find the broker that's right for you
Match your experience level with your trading and investing goals to find the right broker for you.
If you're a
And want to
Consider this
Beginner investor
Do most or all of your trading on your mobile device
To start trading the S&P 500, open an account with a reputable broker that offers access to S&P 500 stocks, funds, options or futures. Fund your account, then use the broker’s trading platform to purchase your chosen asset. Ensure you understand the fees, risks and trading tools available.
What should I look for in a broker for S&P 500 trading?
When choosing a broker for S&P 500 trading, look for low fees, a user-friendly platform and robust research tools. Additionally, ensure the broker offers strong customer service and provides access to S&P 500 stocks, funds, options or futures.
Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio
Matt's expertise
Matt has written 208 Finder guides across topics including:
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
