LemonTrades
TL;DR
- For most people, Fidelity or Schwab: no commissions on US stocks and ETFs, fractional shares, retirement accounts and solid support.
- Robinhood, Webull and Public suit people who want a simple app or active trading tools. Betterment and Wealthfront invest for you.
- Check what matters to you: account types, fees on funds, fractional shares, and whether the broker is a SIPC member.
- LemonTrades isn’t a broker. It tells you what moved your investments, and why, as it happens, whichever app you use.
Choosing an app is easier once you know what kind of investor you are.
| App | Best for | Stands out for |
|---|---|---|
| Fidelity | Most people, retirement accounts | No account fees, fractional shares, strong research |
| Charles Schwab | All-round investing | Large branch network, fractional S&P 500 shares, good trading tools |
| Vanguard | Buy-and-hold index investors | Its own low-cost funds; a simpler app |
| Robinhood | A simple app and crypto | Easy to use; extras in a paid Gold plan |
| Webull and Public | Active traders | Detailed charts and extended hours |
| SoFi Invest | People who bank with SoFi | Investing next to banking and loans |
| Betterment and Wealthfront | Hands-off investing | Robo-advisers that build and rebalance a portfolio for a small yearly fee |
What to check before you open an account
- Account types: do you need an IRA, a Roth IRA, a joint account or a custodial account for a child?
- Costs: stock trades are usually free; look at fund fees, transfer-out fees and margin rates.
- Fractional shares: useful if you invest small amounts.
- Protection: SIPC covers up to $500,000 per customer, including $250,000 in cash, if a broker fails. It doesn’t cover market losses.
- Support: phone help and branches matter more than you think when something goes wrong.
Three kinds of app
- Full-service brokers (Fidelity, Schwab, Vanguard): everything in one place, good for the long run.
- Trading apps (Robinhood, Webull, Public): quick and simple, with options and crypto.
- Robo-advisers (Betterment, Wealthfront): answer a few questions, and they manage a mix of funds for you.
Careful with gamified apps
Confetti, streaks and push alerts can make trading feel like a game. Trading more usually means earning less. Set up automatic monthly investing instead. If you do trade, see can you day trade on Robinhood and is day trading worth it.
Next steps
Pick an app, open the right account, then follow how to start investing money. Not sure what to buy? See best stocks to invest in and investment strategies.
Sources
Education, not financial advice. LemonTrades has no business relationship with these companies. See our disclaimer.
