Hey everyone,
The single most common question we get is some version of "okay, but which brokerage do I actually use?" So let's compare the four accounts most beginners end up choosing between — with no affiliate deals influencing what we say here.
The short version
All four of these let you open a standard taxable brokerage account or an IRA with $0 minimum to open, and all four charge $0 commission on stock and ETF trades. That means the differences that actually matter for a beginner are the interface, the account types on offer, and what happens once you need something more than "buy a fund."
Fidelity
Fidelity tends to be the default recommendation for a reason: it covers almost every account type a person could need — taxable brokerage, Roth and Traditional IRA, and custodial accounts for minors — inside one clean app, with genuinely useful research tools if you ever want to dig deeper. It's a strong pick whether this is your first account or your fifth.
Charles Schwab
Schwab plays in the same lane as Fidelity — full account lineup, solid mobile app, and (since absorbing TD Ameritrade) access to thinkorswim, a genuinely powerful platform for anyone who eventually wants deeper charting and options tools. If you think you might grow into a more active investor later, Schwab gives you room to grow without switching brokers.
Robinhood
Robinhood popularized the zero-commission, no-minimum model years before it was the norm, and its app is still the simplest of the four — genuinely good if the goal is "get started without being overwhelmed." The tradeoff is shallower research tools and a narrower menu of account types, so it fits an individual taxable account better than it fits retirement or custodial investing.
Vanguard
Vanguard is investor-owned rather than shareholder-owned, which is part of why it built its reputation on low-cost index funds in the first place. The app and website are the least polished of the four, but if your entire plan is "buy broad index funds and hold them for decades," Vanguard is built specifically for that, not for trading around it.
How to actually choose
- Want one account that can grow with you, from your first taxable account to a Roth IRA to a custodial account for a kid? Fidelity or Schwab.
- Want the simplest possible app for a first taxable account? Robinhood.
- Already sure you're a buy-and-hold indexer for the long haul? Vanguard.
Whichever you pick, the mechanics are covered in our five-minute account setup guide, and once the account is open, our Investing Basics course covers exactly what to do with it.
Open an account
These are the brokerages' own sites — not affiliate links, just where you'd actually go to open each one.
Not sure any of these fit? We also cover Webull and E*TRADE, which serve a slightly different kind of investor.
More soon,
Learn to Love Money