There are quite a few places nowadays that you can open a brokerage or retirement account online. Most of them are going to be great options, and since they are online – most of them will have reasonable fees and commissions. Here in these two tables are a quick look at some of the more popular account options, and the fees and commissions you can expect with each.
Brokerage Companies
| Account Minimum | Mutual Fund Commission | Stock Commission | Annual IRA Fee | Review | |
|---|---|---|---|---|---|
| Betterment | none | Included in 0.15-0.35% annual fee. | Included in 0.15-0.35% annual fee. | none | Betterment Review |
| Wealthfront | $500 | Included in fees. FREE up to $10,000. 0.25% annual fee for balances over $10,000. | Included in fees. FREE up to $10,000. 0.25% annual fee for balances over $10,000. | none | Wealthfront Review |
| TD Ameritrade | none | $0 | $9.99 | none | TD Ameritrade Review |
| Loyal3 | none | $0 | n/a | Loyal3 Review | |
| Kapitall Generation | none | $7.95 | none | Kapitall Review | |
| Etrade | none | Up to $19.99 | $9.99 | none | |
| Motif Investing | none | $9.95 (per motif/bundle of stocks) | Motif Investing Review | ||
| ShareBuilder by Capital One | none | $19.95 | $6.95 ($4 If Auto Invest) | none | ShareBuilder Review |
| optionsXpress | none | $9.95 | $9.95 | none | optionsXpress Review |
| Schwab | $1,000 | ? | $8.95 | none | |
| Fidelity | none | $0 | $7.95 | none | |
| tradeMONSTER | none | $15 | $7.50 | none | |
| Scottrade | $500 | $17 | $7.00 | none | Scottrade Review |
| Vanguard | none | $0 | $7.00 | $20 | |
| TradeKing | none | $14.95 | $4.95 | none | TradeKing Review |
| OptionsHouse | $1,000 | $9.95 | $2.95 | none | OptionsHouse Review |
Robo-Advisors
| Robo-Advisor | Assets Under Management (AUM) | Annual Fee | Account Minimum | Bonuses | Review |
|---|---|---|---|---|---|
| Wealthfront | $6.5 billion | 0.25% of account balance | $500 | $15k managed FREE (Bible Money Matters readers) | Review |
| Betterment | $9 billion | 0.25% of account balance. 0.40-0.50% w/ human advisors | None | Up to one year managed FREE | Review |
| WiseBanyan | $80 million | FREE (fees for add-on services) | None | Review | |
| Acorns | $257 million | $1/month under $5k. 0.25% of account balance above $5k. Free for college students. | None | Review | |
| SigFig | $120 million | Under $10k FREE; 0.25% of account balance above $10k | $2,000 | ||
| Personal Capital | $4.3 billion | 0.49% to 0.89% of account balance | $25,000 | Review | |
| Wealthsimple | $1 billion | Under $5k FREE; $5k-$100k 0.50%/yr; $100k+ 0.40%/yr | None | Up to a $100 sign-up bonus (Bible Money Matters readers) | Review |
| Charles Schwab | $15.9 billion | FREE (They require you to hold 6-30% of portfolio in cash) | $5,000 | ||
| Fidelity Go | N/A | 0.35% of account balance; | $5,000 | ||
| Vanguard | $65 billion | 0.30% of account balance | $50,000 |
On a related note, check out our post on the best place to open a Roth IRA, as well as the top 5 robo-advisors.
