Best Brokerage Accounts for High Interest Rates: Up to 3.58%
Earning interest on your uninvested cash adds just a little more in your pocket. Check out the best brokers for uninvested cash below.The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
If you keep some cash in your brokerage account, it's a nice perk when it earns a high interest rate. These brokers made our list of the best options for earning interest on uninvested cash:
Vanguard: 3.58%
Moomoo: 3.35%
Public: 3.30%
Fidelity: 3.29%
M1: 3.10%
Webull: 3.35% with $40 annual premium subscription
Robinhood: 3.35% with $50 annual Gold fee
A brokerage account's interest rate isn't the only thing you should consider when opening an account. You may want to look at its investment minimum, fees, available investments, educational resources and customer service as well.
Below, you can compare each broker, including pros, cons and standout features. We've also included whether the broker offers a match on IRA contributions, and how much that match is.
Company | NerdWallet rating | Interest rate on uninvested cash | Promotion | Learn more |
|---|---|---|---|---|
Best App for Investing | 5.0/5 | 3.29% | None no promotion available at this time | Learn moreon Fidelity's website |
Learn moreon Fidelity's website | ||||
Learn moreon Fidelity's website | ||||
4.2/5 | 3.58% | None no promotion available at this time | Learn moreon Vanguard's website | |
Learn moreon Vanguard's website | ||||
Learn moreon Vanguard's website | ||||
4.5/5 | 3.35% | None no promotion available at this time | Learn moreon Robinhood's website | |
Learn moreon Robinhood's website | ||||
Learn moreon Robinhood's website | ||||
5.0/5 | 3.35% | Get 12 free shares when you open and fund an account with Webull | Learn moreon Webull's website | |
Learn moreon Webull's website | ||||
Learn moreon Webull's website | ||||
4.4/5 | 3.3% | None no promotion available at this time | Learn moreon Public's website | |
Learn moreon Public's website | ||||
Learn moreon Public's website | ||||
Fidelity
Fidelity is one of the largest and most well-established brokerages, and it shows. Fidelity charges no trading commissions, offers an extensive set of no-fee, no-minimum index funds. It also stands out for its top-notch research tools, a renowned trading platform and very strong customer service.
See how we rate Fidelity on other features ↓
Account minimum
$0
Stock trading costs
$0*
Options trades
$0.65 per contract
Account fees (annual, transfer, closing, inactivity)
Annual fee: $0 Inactivity fee: $0 Closing fee: $0
Interest rate on uninvested cash
Rates change frequently. For the current rate, check the 7-day SEC yield for Fidelity's SPAXX money market fund, its default account for idle cash.
Number of no-transaction-fee mutual funds
3,220
Tradable securities
Stocks, mutual funds, ETFs, options, bonds and fixed income, precious metals, crypto
Trading platform
Three: Fidelity.com, mobile app, Fidelity Trader+
Mobile app
Available for iOS and Android
Research and data
Several data providers, including Argus, Zacks, CFRA and S&P Global
Customer support options (includes how easy it is to find key details on the website)
24/7. Hours vary by contact method, but you can get help via phone, email, chat, over social media or at a physical branch.
IRA match
None
Vanguard
Vanguard is the king of low-cost investing, making it ideal for buy-and-hold and retirement investors. It offers a top-notch selection of proprietary, low-cost mutual funds, including many ESG options. Despite its $0 online stock trade commission, active traders will find the broker falls short due to the lack of a strong trading platform.
See how we rate Vanguard on other features ↓
Account minimum
$0; however fund minimums vary, with some over $1,000.
Stock trading costs
$0
Options trades
Up to $1 per contract
Account fees (annual, inactivity, closing)
Annual fee: $25 (no fee with e-delivery statements) Inactivity fee: $0 Closing fee: $100
Interest rate on uninvested cash
The default settlement fund is Vanguard's federal money market fund (VMFXX), As of July 7, 2026, the 7-day SEC yield was 3.64%. You can find the most recent yield here.
Number of no-transaction-fee mutual funds
Over 3,600
Tradable securities
Stocks, mutual funds, ETFs, options, bonds, brokered CDs
Trading platform
Two: Website and mobile app
Mobile app
Available for iOS and Android
Research and data
Two: Argus and Market Grader
Customer support options (includes how easy it is to find key details on the website)
Phone support Monday to Friday, 8:00 a.m. to 8:00 p.m. Eastern; email support
IRA match
None
Robinhood
At Robinhood, trades of stocks, ETFs and their options are commission free, as are cryptocurrency trades. (Other fees may apply, including on index options.) Robinhood Gold offers a high interest rate on uninvested cash and low margin rates. The company does not offer mutual funds or individual bonds.
See how we rate Robinhood on other features ↓
Account minimum
$0 for brokerage accounts, Robinhood Gold accounts and IRAs.
Stock trading costs
$0.
Options trades
$0 for equity options. $0.50 for index options, or $0.35 for Gold accounts.
Account fees (annual, transfer, closing, inactivity)
No annual or inactivity fees. $100 ACAT outgoing transfer fee. Robinhood Gold costs $5 a month or $50 per year. Matching funds in IRAs may be taken back if money is withdrawn in less than five years. Instant withdrawals cost 1.75% of the amount withdrawn, with a minimum fee of $1 and a maximum of $150.
Interest rate on uninvested cash
0.01% for free accounts, 3.35% for Gold accounts
Tradable securities
Stocks, ETFs, Options, Cryptocurrency, American Depositary Receipts for over 650 global companies, Futures, Fractional shares. Bonds only available in the form of bond ETFs.
Number of no-transaction-fee mutual funds
Not rated; no mutual funds.
Trading platform
Robinhood's mobile and web platforms are known for their smooth sign-up, funding and trading processes. The broker now also offers a desktop platform, Robinhood Legend.
Mobile app
Mobile trading platform includes customizable alerts, news feed, advanced charting and ability to listen live to earnings calls for some companies. Reviews are mostly positive, although the average star rating on both iOS and Android is below the 4.5 star line.
Research and data
Access to professional research from Morningstar and Level II market data from the Nasdaq Stock Exchange (with Gold subscription).
Customer support options (includes how easy it is to find key details on the website)
24/7 chat support. Phone support available from 7:00 a.m. ET to 9:00 p.m. ET, Monday - Friday. Decent suite of educational articles and webinar events, and an easily-navigable website.
IRA match
1% match on IRA contributions for free accounts, 3% for Gold accounts.
Webull
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, it lacks access to mutual funds.
See how we rate Webull on other features ↓
Account minimum
$0.
Stock trading costs
$0.
Options trades
$0 per trade and $0 per contract on equity options. $0.30 to $0.50 per contract on non-equity options such as index options.
Account fees
Annual fee: $0. Inactivity fee: $0. Outgoing transfer fee (partial or full): $75.
Interest rate on uninvested cash
3.6% for Premium users. 3.25% for non-Premium users with assets totaling more than $25,000, and 0.5% below that.
Number of no-transaction-fee mutual funds
None; mutual funds not available.
Tradable securities
Stocks, ETFs, Treasury bonds, Options, ADRs, Crypto, Futures, Prediction markets
Trading platform
Five: Web, desktop, two mobile apps (Webull and Webull Lite), APIs.
Mobile app
Available for iOS and Android.
Research and data
More than a dozen providers, including Benzinga, Nasdaq Total View, S&P, Dow Jones and CBOE.
Customer support options (includes how easy it is to find key details on the website)
Customer support is available by phone from 9:00 a.m. Eastern time to 4:15 p.m. Email and an in-app help center are available 24/7.
IRA match
1% contribution match for free accounts, 3.5% for paid accounts.
Public
Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto and bonds, as well as a high-yield cash account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.
See how we rate Public on other features ↓
Account minimum
$0.
Stock trading costs
$0 ($2.99 per trade for after-hours trades or OTC stocks, for non-Premium members.)
Options trades
$0. Public pays options traders a rebate of $0.06 to $0.18 per options transaction, as a share of their payment-for-order-flow revenue, depending on volume
Account fees (annual, transfer, closing, inactivity)
$75 ACAT outgoing transfer fee (partial or full). No annual fee for non-Premium members — Public Premium costs $10 a month or $96 a year.
$3.99 monthly inactivity fee for accounts with no activity for six months and balances below $70. Instant withdrawals cost 3.5% of the amount withdrawn, with a minimum of $1.
Interest rate on uninvested cash
New users can opt into a high-yield cash account with yield of over 4% by checking a box at sign-up.
Number of no-transaction-fee mutual funds
Not rated.
Tradable securities
Stocks, ETFs, options, cryptocurrency, American Depositary Receipts, fractional shares and bonds.
Trading platform
Public's mobile and web platforms offer a smooth sign-up, funding and trading experience, but are fairly basic when it comes to tools like charts and screeners.
Mobile app
Public's iOS and Android apps are both well-liked by users and offer virtually the same features as the web trading platform.
Research and data
Research from Morningstar, TradingView and S&P Global. Public offers earnings call playback, as well as bespoke company metrics like subscriber numbers.
Customer support options (includes how easy it is to find key details on the website)
Email and chat support available from 9 a.m. to 5 p.m. Eastern, Monday through Friday. Responses prioritized for Premium members. Website is fairly easy to navigate.
IRA match
1% match on all rollovers and contributions.
Moomoo
Moomoo offers free stock and option trades in an easy-to-use trading platform that charges low margin rates. It's not built for passive retirement investors — IRAs aren't supported, nor are mutual funds — but there's a lot to like about Moomoo for more active traders.
See how we rate Moomoo on other features ↓
Account minimum
$0.
Stock trading costs
$0 for U.S. stocks. 0.03% for Hong Kong and Chinese A-shares.
Options trades
$0 for equity options. $0.50 per-contract fee for index options.
Account fees (annual, transfer, closing, inactivity)
No annual or inactivity fees. $75 ACAT outgoing transfer fee (full or partial).
Interest rate on uninvested cash
Base rate is 0.03%, but various new customer promos can boost the rate to 8.10% for limited periods of time
Tradable securities
U.S. stocks, Hong Kong and China A-shares, ETFs, options, American Depositary Receipts, fractional shares, crypto in eligible states. Bonds only available in the form of bond ETFs.
Number of no-transaction-fee mutual funds
No mutual funds; not rated.
Trading platform
Mobile platform has a smooth signup process. Trading experience is oriented toward advanced traders; not quite as seamless as Robinhood or Public. Desktop, web and API platforms also available.
Mobile app
Available for iOS and Android. Easy-to-use; earns more than 4.5 stars on both app stores.
Research and data
Nasdaq, NYSE, CBOE, CME, Morningstar, S&P, Dow Jones, Bloomberg, Seeking Alpha, LSEG, Benzinga, proprietary research.
Customer support options (includes how easy it is to find key details on the website)
24/7 chat and email support. Phone support available from 8:30 a.m. ET to 4:30 p.m. Eastern time, Monday - Friday.
IRA match
None.
M1
M1 Finance stands out for its unique investment approach — it helps investors visualize their portfolios as a pie, with "slices" made up of different securities. The mix of automation and manual investing will appeal to beginner investors who want to grow their skills and long-term investors who want help maintaining their portfolio allocation.
See how we rate M1 on other features ↓
Account minimum
$100 ($500 for retirement accounts).
Stock trading costs
$0.
Options trades
Options trading not available.
Account fees (annual, transfer, closing, inactivity)
Annual fee: $36 (charged monthly) on balances under $10,000.
Inactivity fee: $50 (charged on accounts with balances up to $50 with no trading or deposit activity for 90+ days).
Closing fee: Full and partial outgoing ACAT: $100; IRA closing fee: $100.
Interest rate on uninvested cash
Around 4%.
Number of no-transaction-fee mutual funds
None; mutual funds not available.
Tradable securities
Stocks, ETFs and crypto.
Trading platform
Two: M1.com and mobile app.
Mobile app
Available for iOS and Android.
Research and data
Quotemedia.
Customer support options (includes how easy it is to find key details on the website)
Customer support is available from 9 a.m. to 4 p.m EST on days when the market is open.
FAQ: Brokerage accounts vs. bank accounts for earning interest
While these brokers pay interest similar to what you'd receive in a savings account, there are a number of differences to be aware of, including deposit insurance.
Savings accounts are insured by the Federal Deposit Insurance Corp. (FDIC), which protects up to $250,000 per person, per bank. All of the brokerages above are members of the Securities Investor Protection Corp. (SIPC), which protects up to $500,000 per person (up to $250,000 in cash), per brokerage account in the event that the broker becomes insolvent.
However, SIPC coverage doesn't protect the value of money market funds, such as those that Vanguard sweeps funds into by default. In other words, SIPC coverage doesn't necessarily cover the exact dollar amount of cash in a brokerage account the way FDIC coverage does in a savings account.
Bill Hampton, a financial consultant based in Atlanta, says that brokerage accounts can still be good places to earn interest — especially for savers who don’t need immediate access to their money.
However, Hampton says that some brokerage accounts have limitations. “For instance, some do not offer the ability to write checks like a bank would. Some limit the amount of transactions you can make in a particular month,” Hampton says.
“A client would have to determine if it’s a long-term savings account that they’re not going to touch for six months or a year, or if it’s going to be an emergency fund that they don’t plan to utilize. If it’s going to be their regular account that they move cash in and out of, they may want to check with the restrictions that each brokerage firm has,” Hampton says.
He points out that many accounts are limited to six transactions per month, which is “plenty in most cases.”
Despite these limitations, brokerage accounts can still be a viable option for savers who are seeking high yields and don’t need to touch their money several times a week.
“If individuals or clients can find better rates at a brokerage firm than at their local bank, which is most likely, then that’s a very good opportunity to earn a high interest rate,” he says.
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokerage firms by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.