Brokers in the US 2026: a ranking built on verified facts
A ranking of brokers in the United States for private investors, built only on verifiable facts. It includes broker-dealers registered with the Securities and Exchange Commission (SEC) and members of the Financial Industry Regulatory Authority (FINRA); offshore brokers are excluded. Commission is measured on a reference order: buying 1,000 USD of a listed stock on the standard tariff, including the minimum fee. Spreads, currency conversion and taxes are excluded, so zero commission does not mean a free service; we recheck commissions every 60 days. We also record membership of the Securities Investor Protection Corporation (SIPC), which has limits and does not cover investment losses, and whether the broker offers an IRA. Reviews and media rankings are not used. This is not investment advice. Investing puts your capital at risk: you can lose money. The Score is not for sale; sponsored placements, if there are ever any, will be a separate labelled block.
| # | Company | Who it serves | ||||
|---|---|---|---|---|---|---|
| 1 | Interactive Brokers | 83 | Not verified | Yes | 0% | Compensation scheme Assets held separately No account fee Tax account App |
| 2 | Fidelity | 82 | Not verified | Yes | 0% | Compensation scheme Assets held separately No account fee Tax account App |
| 3 | Merrill Edge | 82 | Not verified | Yes | 0% | Compensation scheme Assets held separately No account fee Tax account App Account online |
| 4 | Robinhood | 81 | Not verified | Yes | 0% | Compensation scheme Assets held separately No account fee Tax account App Account online |
| 5 | J.P. Morgan Self-Directed Investing | 78 | Not verified | Yes | 0% | Compensation scheme Assets held separately Tax account App Account online |
| 6 | Firstrade | 76 | Not verified | Yes | 0% | Compensation scheme No account fee Tax account App Account online |
| 7 | Vanguard Brokerage | 73 | Not verified | Yes | 0% | Compensation scheme Assets held separately Tax account Account online |
| 8 | tastytrade | 72 | Not verified | Yes | 0% | Compensation scheme No account fee Tax account App |
| 9 | Public | 71 | Not verified | Yes | 0% | Compensation scheme No account fee Tax account App Account online |
| 10 | Webull | 70 | Not verified | Yes | 0% | Compensation scheme Tax account App Account online |
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- States officially that client assets are held separately from its own
Details Visit site ↗ 83% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- States officially that client assets are held separately from its own
Details Visit site ↗ 83% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- States officially that client assets are held separately from its own
Details Visit site ↗ 83% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- States officially that client assets are held separately from its own
- Publishes financial reports
Details Visit site ↗ 87% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- States officially that client assets are held separately from its own
Details Visit site ↗ 80% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- Publishes financial reports
Details Visit site ↗ 78% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- States officially that client assets are held separately from its own
Cons
- Charges a periodic account or custody fee
Details Visit site ↗ 79% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- Publishes financial reports
Details Visit site ↗ 74% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- Publishes financial reports
Details Visit site ↗ 74% backed by facts
-
- Licensed since
- Not verified
- Investor compensation scheme
- Yes
- Commission on the reference order
- 0%
Pros
- Low commission on the reference order
- Member of the national investor compensation scheme
- Wide choice of asset classes
- Publishes financial reports
Details Visit site ↗ 71% backed by facts
Not ranked yet: not enough verified data
These services are known to us, but we haven't verified enough facts to rank them fairly.
- Charles Schwab (28% backed by facts)
How we calculate the Score
45%
Safety
The year the broker was licensed (from the regulator's register or the official website), membership of the national investor compensation scheme, an official statement that client assets are held separately from the firm's own, and published financial reports. A compensation scheme has limits and does not cover investment losses.
25%
Cost
The commission on one reference online purchase of a domestic share, in percent of the order, on the standard published tariff including the minimum fee: 4,000 PLN on GPW (Poland), 1,000 EUR on Xetra or the broker's standard venue (Germany), 1,000 GBP (UK), 1,000 USD (US), 500,000 KZT on KASE (Kazakhstan). We also check whether there is a periodic account or custody fee. Spreads, currency conversion, taxes and stamp duty are excluded, so zero commission does not mean a free service.
15%
Products
How many of five asset classes retail clients can access: stocks, ETFs, bonds, funds and options. CFDs, forex, crypto and futures do not count. We also record a tax-advantaged account: IKE/IKZE in Poland, ISA or SIPP in the UK, IRA in the US. In Germany the new state-supported Altersvorsorgedepot is not counted yet, and in Kazakhstan we found no equivalent, so the fact is shown there as no data.
15%
Service
Whether there is a mobile app, whether an account can be opened fully remotely, how many support channels are stated (phone, e-mail or web form, live chat with a human) and whether the broker issues an annual tax statement.
How to choose a broker
Check the licence in the register
Find the broker in the regulator's register: KNF in Poland, BaFin in Germany, the FCA in the UK, the SEC and FINRA BrokerCheck in the US, ARDFM in Kazakhstan. Search by the exact firm name and compare the website address: fraudsters build clones with names and sites that look like real brokers. If the firm is not on the register, do not send it money.
Find the compensation scheme and its limit
Check on the scheme's own website whether the broker belongs to it: KDPW in Poland, EdW or EdB in Germany, FSCS in the UK, SIPC in the US. Every scheme has a limit. It may help if a broker fails and client assets are missing, but it does not cover investment losses. We found no comparable scheme in Kazakhstan.
Read the full fee schedule
Look beyond the dealing commission to custody, currency conversion, withdrawal and inactivity fees. These often matter more than the headline number. Zero commission does not mean a free service: a broker can earn from spreads and currency conversion.
Understand where your assets are held
Find out who actually holds your securities, whether they are kept apart from the broker's own assets, and in which country. If they sit in a pooled account, ask what that means if the broker fails. The answer should be in the contract and terms.
Check the tax reporting
Find out which document you will receive after the year ends, and whether the broker withholds tax or you must work it out and pay it yourself. If tax accounts such as IKE/IKZE, an ISA or an IRA are available, read their rules. If in doubt, ask a tax adviser.
Understand the risk
The value of any investment can fall, and past returns guarantee nothing. Invest only money you could afford to lose. Complex products such as CFDs and leveraged trades lose most retail clients money. We do not rate or recommend them.
Know where to complain
First file a written complaint with the broker and keep its reference number. If the answer does not satisfy you, go to the financial ombudsman where one exists or to the regulator, then to court. The route is usually published on the broker's website.
Frequently asked questions
What does first place in the ranking mean?
The broker in first place has the highest Score under our open methodology among brokers in that country. That is not advice: look at what matters to you, and always read the broker's contract and fee schedule.
Is this investment advice? Can I lose money?
No, this is not investment advice. The ranking compares brokers, not securities, and does not tell you what to buy. Investing puts your capital at risk: you can lose money, and neither a licence nor a high Score protects you from that.
Who is included and where does the data come from?
Only brokers licensed by their own country's regulator: KNF, BaFin, the FCA, the SEC and FINRA, ARDFM. Offshore brokers are excluded. The data comes from registers, compensation scheme member lists and official websites. Every fact links to the page and shows the date we checked it.
How do you measure commission? Does zero commission mean free?
We take the standard published tariff with its minimum fee and work out the percentage of a reference order: 4,000 PLN on GPW (Poland), 1,000 EUR on Xetra or the standard venue (Germany), 1,000 GBP (UK), 1,000 USD (US), 500,000 KZT on KASE (Kazakhstan). Spreads, currency conversion, taxes and stamp duty are excluded, so zero commission does not mean a free service. Commissions are rechecked every 60 days.
Which asset classes do you count?
Five: stocks, ETFs, bonds, funds and options. CFDs, forex, crypto and futures do not count: we do not rate leveraged products or recommend them.
Does a compensation scheme protect me from losses?
No. A compensation scheme (KDPW in Poland, EdW or EdB in Germany, FSCS in the UK, SIPC in the US) applies when a broker fails, has limits and does not cover a fall in the value of your investments. We found no comparable scheme in Kazakhstan, so the fact is empty there.
Why do some facts show no data, and can I compare countries?
We count a tax-advantaged account only where we found a clear equivalent: IKE/IKZE in Poland, ISA or SIPP in the UK, IRA in the US. It is not counted in Germany and Kazakhstan. An empty fact earns no points, and reference orders and rules differ by country, so compare the Score only within one country.
Why don't you use reviews and media rankings?
They cannot be reliably verified, and the number of complaints depends on a broker's size. We rely only on facts with a source.
Can a place in the ranking be bought?
No. The Score uses one formula for all brokers and is not for sale. Sponsored placements, if there are ever any, will be a separate labelled block and will not affect the Score.