Fidelity is our top pick for clients to use as a brokerage firm. Fidelity is a well-rounded brokerage that has no account fees, no account minimums, no commission on stock or ETFs and has great trading technology for beginners. Options trades are commission-free but still have a $0.65 contract charge. Fidelity automatically directs unused cash to a money market fund which has competitive yielding rates. Their customer support is great when you need additional assistance.

Vanguard is our second pick for clients to use as a brokerage firm. Their typical client is a buy and hold (long term investor) that doesn’t need much trading capability. Stock trading cost are $0, account minimum is $0 (although some funds require a minimum) and they have superb customer service. Their settlement money market fund has a competitive yield for unused cash. If you are looking to automate your investing, with a low-cost solution, Vanguard may be right for you.

IBKR Lite is our third pick for clients to use as a brokerage firm. IBKR Lite has no account fees, no account minimums, no commission on stock or ETFs and has great trading technology. Options trades are commission-free but still have a $0.65 contract charge. Interest on uninvested cash has a average competitive yield.