Is your broker getting you a good price?
Trading firms pay brokers for your orders. We read the official reports to show what that costs you.
Per $10,000 of S&P 500 market orders, Fidelity customers get $0.09 better than the fair price (midpoint of the best buy and sell quotes); eToro customers pay $1.77 above the fair price.
Paid by trading firms in Apr–Jun 2026.
Paid-more brokers do slightly worse outside the S&P 500, but cheap shares explain it, not payment.
How does your broker do?
Per $10,000 of market orders, all sizes under $200,000 averaged, so large orders weigh most. For your own trade size, use the calculator.
- Paid about $0.73 by trading firms for that order.
- Worse prices than most brokers on identical trades.
- No interest on idle cash.
- $0 per options contract.
Compared with other brokers
What each broker costs per $10,000 traded
S&P 500 stocks · tap a bar
Show as a table
| Broker | Extra cost / $10k | Broker is paid / $10k |
|---|---|---|
| Fidelity | −$0.09 | $0.03 |
| J.P. Morgan | −$0.08 | −$0.00 |
| Vanguard | $0.04 | $0.00 |
| Schwab | $0.08 | $0.05 |
| WF FiNet | $0.12 | no report of its own |
| Wells Fargo | $0.15 | $0.00 |
| Edward Jones | $0.34 | $0.00 |
| Merrill | $0.51 | −$0.02 |
| E*TRADE | $0.59 | $0.06 |
| Robinhood | $0.82 | $0.73 |
| UBS Wealth | $0.84 | $0.00 |
| IBKR | $0.91 | $0.14 |
| Wealthfront | $0.96 | $0.00 |
| Webull | $1.02 | $0.77 |
| tastytrade | $1.21 | $0.07 |
| Public | $1.33 | $0.09 |
| moomoo | $1.34 | $0.04 |
| Stash | $1.38 | no report of its own |
| Albert | $1.47 | no report of its own |
| SoFi | $1.48 | $0.10 |
| Altruist | $1.50 | $0.11 |
| Coinbase | $1.56 | no report of its own |
| Avenue | $1.60 | no report of its own |
| Cash App | $1.73 | −$0.07 |
| eToro | $1.77 | no report of its own |
What your broker costs you in a year
Your yearly estimate
Change the numbers to match how you trade.
At Robinhood this would cost about $203 a year; at Vanguard it would cost about $1.19.
Show as a table
| Broker | Total per year | Trade prices | Commissions | Options fees | Idle cash | Margin interest |
|---|---|---|---|---|---|---|
| Vanguard | $1.19 | $1.19 | $0.00 | $0.00 | $0.00 | $0.00 |
| Fidelity | $18 | −$0.22 | $0.00 | $0.00 | $18 | $0.00 |
| Webull | $190 | $21 | $0.00 | $0.00 | $169 | $0.00 |
| Wells Fargo | $194 | $1.44 | $0.00 | $0.00 | $193 | $0.00 |
| Merrill | $197 | $3.40 | $0.00 | $0.00 | $194 | $0.00 |
| Robinhood | $203 | $8.95 | $0.00 | $0.00 | $194 | $0.00 |
Popular comparisons
What we found
Getting paid doesn't predict the price
Webull and Robinhood are paid the most, yet unpaid Cash App costs customers more.
See payment vs priceSame stock, very different price
Same trading firms, yet Fidelity customers get the best prices and Cash App the worst on identical trades.
See every brokerMost of the money is in options
69% of the $1.48B paid in Apr–Jun 2026 was for options, which the price reports don't cover.
See how we measureHow your order gets filled
You place an order
You tap "buy" in your broker's app.
Your broker sends it on
Usually to a trading firm (a "market maker"), which may pay the broker for it.
The trading firm fills it
Your price lands between the best buy and sell quotes; every cent a share off the middle (the fair price) is $1 on a $10,000 trade.