5 Brokerage Apps for Investors: Comparing Fees, Features, and Minimums

Investors don't need a large initial deposit to start building a portfolio. Many brokerage platforms offer commission-free trading, no minimum opening deposit, and fractional shares, allowing beginners to invest with as little as $1 to $5.
A recent comparison highlights five brokerage apps, each designed for different investing needs:
1. SoFi Invest – Financial Simplicity
SoFi offers stocks, alternative assets, cryptocurrencies, and pre-IPO investments. Users can start with $5 and access other financial services, including bank accounts, loans, and credit cards. Its limitations include relatively basic research tools and no tax-loss harvesting for automated portfolios.
2. Robinhood – Mobile Stock Trading
Robinhood provides access to stocks, options, cryptocurrencies, and IPOs, with fractional investing starting at $1. Its mobile interface and advanced trading features appeal to active investors. However, it lacks mutual funds, bonds, and Treasuries, while its research tools are relatively limited.
3. Public – AI-Powered Investing
Public integrates AI agents that provide daily market briefings, analyze portfolio holdings, and can help manage investments. It offers a base margin rate of 5.15% and options trading rebates. Its limitations include no mutual funds, futures, or forex trading.
4. Fidelity – Retirement Accounts
Fidelity offers a broad range of retirement and education accounts, competitive ETF options, and customer support. Investors can start with $1. Its drawbacks include limited cryptocurrency offerings and relatively higher margin rates and robo-advisor fees.
5. Moomoo – Advanced Trading Tools
Moomoo provides access to stocks, options, cryptocurrencies, pre-IPO investments, and prediction markets. It offers advanced charting tools, no options contract fees, and a base margin rate of 6.8%. However, it does not offer retirement accounts, mutual funds, or bonds.
What Investors Should Consider
Before choosing a brokerage, investors should compare:
- Fees: Trading commissions, options fees, margin rates, and other costs.
- Investment choices: Stocks, ETFs, bonds, options, cryptocurrencies, and alternative assets.
- Tools: Research features, charting, AI assistance, and portfolio management.
- Account types: Standard brokerage accounts, IRAs, and 529 education plans.
The right platform depends on an investor's goals, experience, and preferred investment products. Some investors may also use multiple brokerages to access different features.