No Minimum Deposit Required at Schwab, Robinhood, or Firstrade
Key points:
• Brokerage accounts can be opened with a zero-dollar deposit at Robinhood, Schwab, and Firstrade.
• Each of these broker-dealers also offers commission-free trading.
• None of the three firms charge ongoing account fees such as low-balance charges.
If your goal is to find the lowest possible minimum deposits and fees in the brokerage industry, Schwab, Firstrade, and Robinhood are three strong choices.
Robinhood
A brokerage account with Robinhood can be opened with a $0.00 initial deposit if you choose. It can also remain unfunded if desired. If you later decide to add money, you can deposit even a very small amount (there is no required minimum) and still begin trading. Because of fractional-share trading, stocks and ETFs can be purchased starting at $1; cryptocurrencies can sometimes be purchased with even smaller amounts.
No matter what you trade inside a Robinhood account, commissions are not charged on most securities trades. This allows even very small accounts to trade stocks, funds, and equity options without paying transaction commissions. Keep in mind that bid-ask spreads and regulatory fees may still apply.
Once positions are established, fractional holdings will appear in the account details as partial shares or coins. Closing these positions is straightforward; simply enter the fractional amount when placing a sell order.
Throughout all trading activity and account maintenance, Robinhood does not charge account fees. The broker has no minimum balance requirement, so a small account can remain open with little or no balance without triggering fees.
Robinhood’s no-fee policy applies to both standard brokerage accounts and IRAs. If you ever decide to close your account, the broker does not charge a termination fee for these registrations.
In addition to brokerage services, Robinhood provides spending accounts. Like brokerage accounts, these can also be opened with no deposit and maintained without a balance. A spending account has no setup fee, monthly fee, inactivity fee, low-balance fee, or annual fee.
A cash card can be linked to the spending account, and this prepaid debit card has no ongoing maintenance fees. ATM withdrawals may carry a $2.50 charge, however.
Free Robinhood Account
3% deposit match and FREE stock worth up to $200 at Robinhood.
Visit Robinhood Website
Charles Schwab
Similar to Robinhood, Charles Schwab offers several account types that can be opened with a zero-dollar deposit. These include both brokerage and bank accounts. On the banking side, Schwab’s checking and savings accounts can be opened with any amount of money or even no deposit. A checking account does need to be funded before a checkbook and Visa debit card are issued.
On the brokerage side, accounts can also be opened without an initial deposit. Once the account is created, clients gain access to Schwab’s website, mobile app, and thinkorswim trading platforms.
Schwab also provides access to many securities that can be purchased with very small investments. For example, most mutual funds on the Schwab platform can be bought with as little as $1 (specifically, 4,947 funds out of a total of 5,740 funds have this minimum investment requirement). The mutual-fund screener is available under the Research tab on the website.
Schwab also offers fractional-share trading for stocks. Through its Stock Slices program, customers can buy shares of companies in the S&P 500 with a minimum purchase amount of $5. ETFs, however, must generally be traded in whole shares, although some of them have market prices under $50.
Self-directed investors at Schwab also gain access to many educational tools within the broker’s software platforms. These materials are available with no account minimums or extra charges, making them useful even for small accounts. During our testing of Schwab’s various platforms, we found free stock research reports, educational materials on trading basics, live streaming financial news channels, and commentary covering daily market developments.
While the account remains open, Schwab does not charge ongoing account fees. In addition, most trades carry no commissions, which adds even more value for smaller investors.
Free Charles Schwab Account
Visit Schwab Website
Firstrade
Finally, we have Firstrade on our list of brokers that require no minimum deposit. Opening either a domestic or international brokerage account is simple through the company’s easy-to-use website. After the account is created, there are no recurring fees to worry about—Firstrade does not charge maintenance fees, annual fees, or low-balance fees. Even closing an IRA does not result in a fee.
Both taxable and retirement accounts at Firstrade allow trading in many securities with relatively small investment amounts. Firstrade now provides fractional-share trading for both stocks and ETFs starting at $5. Trades can be placed through the firm’s website or mobile app. Market and limit orders are available for fractional-share purchases, although some advanced order types are not supported for fractional trading. Switching between dollar-based and share-based orders on the web or mobile ticket is simple; if a security cannot be traded in dollar amounts, the order ticket will automatically default to share quantity.
Many mutual funds at Firstrade can be traded with a minimum investment of $1 or less. During our review using the broker’s fund screener, we identified 3,436 funds with this low minimum requirement.
Across most asset classes, Firstrade does not charge trading commissions. Mutual funds, options, stocks, closed-end funds, and ETFs can generally be traded without commission fees imposed by the broker.
Updated on 3/4/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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