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Good news for people who want to cut costs: The price war among companies in the investment world are finally making brokerage accounts more accessible.

For you, it means the fees brokerage firms charge per trade continue to drop. It also means you can open a brokerage account without an account minimum.

Yet, deciding which broker to use is still difficult. Beyond commissions, there are other expenses to factor in, such as the tax consequences. There are also other considerations, like whether the company offers no-fee commission options.

Plus, price is only one factor you’ll want to consider in making a decision. You’ll also want to find out about what tools and funds the broker makes available, as well as the kind of digital experience it offers, among other things. Also keep in a mind a risk: Some financial professionals believe the low prices could tempt you to trade too much, eventually eroding your returns.

While price is only one factor you’ll want to consider in making a decision, here’s what to know about some of the lowest-cost online brokerage accounts.

Here are the best online brokers for lowest fees

  • Ally Invest: $4.95 per stock and ETF trades
  • Charles Schwab: $4.95 per stock and ETF trades
  • Fidelity Investments: $4.95 per stock and ETF trades
  • JPMorgan Chase’s You Invest: 100 free trades on ETFs and stocks for the first year. Then, $2.95 per stock and ETF trades
  • Robinhood: $0.00 per stock and ETF trades

Best brokerage account details

Ally Invest

In 2017, Ally Financial launched Ally Invest (formerly TradeKing), and it’s among the cheapest brokerage accounts for self-directed investors to sell stocks, ETFs, mutual funds and more.

Ally Invest charges $4.95 per trade, while option trades are $4.95 plus $0.65 per contract. More active traders (those who make at least 30 trades per quarter or maintain a daily balance of $100,000) get a discount: They pay $3.95 per trade and $3.95 plus $0.50 per contract on options.

These rates were once considered cutting edge. But nowadays, rivals like Charles Schwab and Fidelity Investments also offer similar pricing.

While Ally Invest doesn’t offer the most commission-free ETFs among its competitors, it still makes dozens of them available. This summer, Ally Invest added more than 100 commission-free ETFs to its trading platform. However, that amount is fewer than what Charles Schwab and Fidelity Investments offer, and hundreds and hundreds fewer than what The Vanguard Group offers.

Ally Invest’s mutual fund commissions are $9.95, which is generally considered a deal compared to other brokers.

Ally Invest earned a 5 out of 5 on affordability in Bankrate’s review.

  • Cost per trade: $4.95. Option trades are $4.95 plus $0.65 per contract
  • Minimum balance to open an account: $0
  • Mutual funds: $9.95 to buy or sell no-load mutual funds

Charles Schwab

The brand name likely rings a bell, and you may already associate Charles Schwab with pioneering the concept of slashing fees for individual investors in the 1970s. Fast-forward to the present, and Charles Schwab remains one of the lowest-cost online brokers.

Like Ally Invest, Charles Schwab charges $4.95 per trade and charges an additional $0.65 per contract on options.

However, you will need $1,000 to open an account unless you meet another condition, such as automatically transferring $100 into the account on a monthly basis.

Charles Schwab also offers more than 250 commission-free ETFs to all account holders. So, you could save on costs there.

It offers more than 3,000 no-transaction-fee mutual funds, too. However, for its transaction-fee funds, it charges more than you probably expect: $76 per buy and $0 to sell.

Charles Schwab earned a 5 out of 5 on affordability in Bankrate’s review.

  • Standard pricing for trades: $4.95. Option trades are $4.95 plus $0.65 per contract
  • Minimum amount to open a brokerage account: $1,000
  • Mutual funds: More than 3,000 mutual funds that you can buy and sell without paying a transaction fee. If you want a fund not on the list, the transaction fee is high: $76 on buys and $0 when you sell.

Fidelity Investments

Fidelity Investments is making its mark in the price war.

This summer, the household name known for its mutual funds raised the competitive pricing stakes by launching four index funds that charge no management fees. Yes, that’s a zero.

It’s not skimping on competitive prices for ETFs, either. In fact, Fidelity makes more than 265 commission-free ETFs available.

Per trade, it charges investors $4.95 — a price that is competitive with Ally Invest and Charles Schwab.

Fidelity Investments earned a 4 out of 5 on affordability in Bankrate’s review.

  • Standard pricing for trades: $4.95. Option trades are $4.95 plus $0.65 per contract
  • Minimum amount to open new account: $0.00
  • Mutual funds: As little as zero. Certain non-Fidelity funds will have a transaction fee of $75, but most will have a commission of $49.95 on buys and $0 when you sell.

JPMorgan Chase’s You Invest

In late August, JPMorgan Chase announced You Invest, a digital investment platform from the biggest U.S. bank. It’s the newest of the bunch, and it already has made quite a splash on price.

On You Invest, investors can make 100 free trades on ETFs and stocks for the first year. Then, it costs only $2.95 per trade — making it more expensive than only Robinhood.

You Invest clients don’t pay transaction fees for mutual funds they trade online either.

The bank sweetens the pricing deal based on the kind of relationship you have with Chase. For instance, if you are a Chase private client, you will get unlimited free trades.

The newer offering for retail investors is available within Chase and JPMorgan mobile apps and websites.

  • Standard pricing for trades: 100 trades for free within one year of opening plus $2.95 per trade after that
  • Minimum amount to open new account: $0
  • Mutual funds: Available with no commissions or transaction fees

Robinhood

In terms of price, it doesn’t get better than Robinhood: On the fintech app, it’s free to trade stocks and ETFs. There are no fees for options or cryptocurrency trading either. However, mutual funds are not offered on the platform.

To attract you, Robinhood offers an award-winning trading app. In fact, the company is viewed as one of the hottest fintech companies, and like many other fintech companies, it states its goal as attempting to democratize finance.

In a blog post, Robinhood wrote: “At Robinhood, we’re guided by the belief that America’s financial system should work for everyone – not only the wealthy.”

The popular investing app also offers a premium account. Called Robinhood Gold, you will pay to get extra features, like the ability for extended-hours trading and larger instant deposits.

Robinhood earned a 5 out of 5 on affordability in Bankrate’s review.

  • Cost per trade: $0.00
  • Minimum balance to open an account: $0
  • Mutual funds: N/A

You may also want to consider The Vanguard Group if you’re in the market for ETFs (Vanguard offers more than 1,800 commission-free ETFs) or Interactive Brokers if you’re more of a veteran investor. You may also consider signing up with a robo-adviser, like Betterment, if you want a more hands-off approach to your investment strategy.