Which brokerage is best for value investing in 2026?

For Graham Number-style value investors, Interactive Brokers offers the deepest research tools, but moomoo is the best combination of free fundamental research + commission-free trading for everyday investors. Both are solid choices.

Does moomoo offer free stocks for new accounts?

Yes. moomoo has been running promotions offering up to 15 free stocks when you open and fund a new account. Check the current offer on their website as it changes periodically.

Is Webull good for value investors?

Webull is excellent for investors who combine technical analysis with fundamentals. Its charting is best-in-class and it offers free stock bonuses for new users. Less robust on deep balance sheet research than moomoo or IBKR.

What is the Graham Number and which brokers support it?

The Graham Number is a formula (√(22.5 × EPS × BVPS)) that estimates an intrinsic stock value. No brokerage calculates it for you natively — but valueofstock.com/calculator does it free.

Is Fidelity or Schwab better for long-term value investors?

Both are excellent custodians for long-term investors. Fidelity edges out Schwab on research tools. Neither pays you bonuses to sign up, but both offer superior customer service and account stability.

Best Online Brokerages for Value Investors in 2026 (Graham Number Edition)

⚠️ Disclosure: This article contains affiliate links. If you open an account through certain links below, I may earn a commission at no cost to you. I only recommend platforms I've personally researched. Nothing here is financial advice — it's research to help you make your own decision.

Tax day just passed. If you're sitting on a refund — or finally ready to stop letting cash rot in a savings account — the first real decision isn't which stock to buy. It's where to buy it.

Your brokerage is your home base. The research tools, the order types, the data access, the fees — all of it shapes how well you can execute a value investing strategy. And most brokerage comparison articles are written by people who've never actually calculated a Graham Number in their life.

This one is different.

I'm going to walk you through five major brokerages — Fidelity, Charles Schwab, Interactive Brokers, moomoo, and Webull — specifically through the lens of Graham Number-style value investing. Which one gives you the tools to find genuinely undervalued companies? Which one gets out of your way and lets you invest? And which ones will actually pay you just for showing up?

What Value Investors Actually Need From a Brokerage

Before I rank them, let me explain what I'm evaluating. Benjamin Graham's approach to stock selection — the foundation of value investing and the training ground for Warren Buffett — requires:

Access to fundamental data: P/E ratio, price-to-book ratio, EPS, book value per share. These are the inputs to the Graham Number formula.
Screener tools: The ability to filter stocks by those metrics, not just by price or volume.
Commission-free trading: Because value investing often means holding positions for years, and unnecessary friction kills returns.
Stability and reliability: Your money needs to be safe. SIPC insurance and regulatory oversight matter.
Research access: Analyst reports, financial statements, earnings history.

Now let's see how each brokerage stacks up.

🏆 Interactive Brokers — Best Research Depth (For Serious Investors)

Interactive Brokers (IBKR) is the professional's choice. It's where hedge fund managers, independent quants, and serious retail investors go when they want every tool on the planet and don't mind a learning curve.

What it does brilliantly for value investors:

Fundamental Explorer: Probably the best built-in fundamental screening tool in any retail brokerage. You can screen by P/B, P/E, EPS growth, debt-to-equity, dividend yield, and dozens more metrics — exactly what you need to hunt for Graham Number candidates.
Global market access: IBKR gives you access to 90+ exchanges in 150+ markets. If you want to find undervalued international stocks — a category Graham himself explored — you're covered.
Margin rates: If you use leverage, IBKR has the lowest margin rates in the industry by a significant margin.
IBKR Lite: Commission-free US stock and ETF trading. No excuse on fees.

The downsides:

The interface is complex. The platform feels like it was designed by engineers, for engineers. If you're newer to investing, the learning curve is steep. Customer service, while improving, isn't as accessible as Fidelity or Schwab.

Bottom line: If you're running a serious Graham Number screening operation and want the most powerful toolkit, IBKR is the gold standard. Not the warmest welcome mat, but the most powerful workbench.

🥈 moomoo — Best for Everyday Value Investors (+ Free Stocks)

moomoo is where I'd send most value investors who don't need IBKR's institutional-grade firepower but want something dramatically better than a basic trading app.

What makes moomoo exceptional for value investing:

Free financial statements: Full income statements, balance sheets, and cash flow statements — the three documents Graham used to evaluate companies — are freely available on every stock's profile page. No premium subscription required.
Institutional ownership data: See which funds are buying and selling. When a stock is being quietly accumulated by value-oriented institutions, that's a signal.
Free Level 2 quotes: Real-time order book data that most brokerages charge $5–$15/month for. Free at moomoo.
Paper trading: Practice applying the Graham Number before risking real capital. A feature that actually makes you a better investor.
$0 commissions: Same deal as every other major brokerage now.

The sign-up bonus (don't leave money on the table):

moomoo has been running promotions where new users who open and fund an account can receive up to 15 free stocks. The exact offer changes — check their current promotion here — but it's consistently one of the most generous sign-up bonuses in the industry. That's free equity for doing something you were going to do anyway.

Who it's for: The value investor who wants real research tools, not just a price chart, without paying for a Bloomberg terminal.

👉 Open a Free moomoo Account — Check Current Free Stock Offer → (affiliate link — we may earn a commission)

🥉 Fidelity — Best All-Rounder (Especially for Long-Term Holders)

Fidelity has been around since 1946. If Interactive Brokers is the research powerhouse and moomoo is the modern value investor's tool, Fidelity is the dependable veteran you trust with serious money.

What Fidelity does well:

Research quality: Fidelity's research ecosystem is genuinely excellent. They aggregate reports from multiple third-party research providers (Morningstar, CFRA, Argus, and others) at no extra cost.
Fidelity Stock Screener: A capable screener with fundamental filters — P/E, P/B, EPS growth, yield. Not as deep as IBKR's Fundamental Explorer, but solid for finding Graham Number candidates.
Zero expense ratio index funds: Fidelity's own index funds (FZROX, FZILX) have 0% expense ratios. Not directly relevant to individual stock picking, but great for the portion of your portfolio you're not actively managing.
Customer service: Actual human beings, available by phone, who know what they're talking about. Underrated in 2026.
No sign-up bonus: Fidelity doesn't pay you to open an account. If you want free stocks, look at moomoo or Webull.

Bottom line: Fidelity is the right answer if you want maximum trust, stability, and research quality without a learning curve. The research tools are good — not IBKR-level, but significantly better than the average app.

Charles Schwab — Solid, Dependable, Not Exciting

Schwab is Fidelity's peer. After acquiring TD Ameritrade (and its excellent thinkorswim platform), Schwab is now the largest brokerage by assets under custody in the US.

What Schwab does well:

thinkorswim: TD's legendary platform is now Schwab's. For technical analysis and charting alongside fundamental research, it's a strong combination.
Schwab Equity Ratings: Their proprietary ratings system gives you a quick A–F grade on stocks based on fundamentals and momentum. Not a Graham Number, but useful context.
No commission, no account minimum: Same as everyone else now.
Customer service: Comparable to Fidelity — good.

Where Schwab loses to Fidelity: The integration of TD Ameritrade has been bumpy. Some features from the TD platform still haven't fully migrated. Research depth is comparable to Fidelity but not quite as polished.

Bottom line: If you're choosing between Fidelity and Schwab, Fidelity edges it slightly on research. But Schwab is excellent — you won't go wrong. Choose based on which app you like better.

Webull — Best for Technical + Fundamental Hybrid Investors

Webull sits in an interesting middle ground: better than most apps for fundamental research, but truly exceptional for technical charting.

What Webull does well for value investors:

Financial statements: Available directly in the app. Not as deep as moomoo, but accessible.
Options analysis tools: If you sell covered calls on your value positions (a legitimate income strategy for long-term holders), Webull's options tools are excellent.
Charting: Best technical charting in the consumer brokerage space. Period.
Free stocks for new users: Webull offers bonus stocks when you open an account and make a deposit — check the current Webull promotion here. Typically 12 free stocks when you deposit $100. That's real money.

Where Webull falls short: The fundamental research depth isn't at moomoo's level. If you're running strict Graham Number screens across hundreds of stocks, moomoo gives you more data to work with.

Bottom line: If you blend technical analysis timing with fundamental value identification — using the Graham Number to find undervalued stocks and technical signals to find entry points — Webull is a genuine contender.

👉 Open a Free Webull Account — Get Your Sign-Up Bonus → (affiliate link — we may earn a commission)

The Graham Number Quick Test: Which Broker Lets You Run It Easiest?

The Graham Number formula is: √(22.5 × EPS × Book Value Per Share)

A stock is potentially undervalued when its price trades below this number. Here's how each brokerage stacks up for finding the inputs:

| Brokerage | EPS Accessible? | Book Value Per Share? | Screener Filters? | Free Research? | |-----------|----------------|----------------------|-------------------|----------------| | Interactive Brokers | ✅ Deep | ✅ Deep | ✅ Advanced | ✅ Included | | moomoo | ✅ Full statements | ✅ Full statements | ✅ Good | ✅ Included | | Fidelity | ✅ Via research | ✅ Via research | ✅ Moderate | ✅ Included | | Schwab | ✅ Via research | ✅ Via research | ✅ Moderate | ✅ Included | | Webull | ✅ Basic | ✅ Basic | ⚠️ Limited | ✅ Included |

Want to skip manually calculating the Graham Number for every stock? Our calculator at valueofstock.com/calculator does it for you across 500+ stocks. Free to try, Pro unlocks the full universe.

The Verdict: Which Brokerage Should Value Investors Choose in 2026?

| Investor Type | Best Brokerage | |---------------|----------------| | Serious researcher, deep fundamentals | Interactive Brokers | | Everyday value investor, best tools for free | moomoo ⭐ | | Long-term holder, want stability + service | Fidelity | | Technical + fundamental hybrid | Webull | | Either/or between legacy names | Schwab or Fidelity |

My personal pick for most readers: moomoo.

Here's why: the research tools are genuinely professional-grade (free balance sheets, institutional ownership, Level 2 quotes), the commissions are zero, and the sign-up bonus means you're getting paid to make the switch. For a value investor running Graham Number analysis on a moderate portfolio, you get 90% of what IBKR offers without paying for it or climbing its learning curve.

If you want the most powerful toolkit and don't mind the complexity, go with IBKR. If you want stability and don't care about bonuses, Fidelity is never wrong.

Before You Pick a Brokerage, Calculate Your Targets

Opening a brokerage account without knowing what you're looking for is like buying a car without knowing where you're driving. Use the Graham Number to identify your target stocks first.

Run the Graham Number Calculator at valueofstock.com/calculator →

Free. No account required. Calculates intrinsic value based on EPS and book value, then shows you the margin of safety at the current price.

Build a Complete Value Investing Toolkit

If you want the full framework — how to screen for stocks, calculate intrinsic value, build a margin of safety, and manage a value portfolio through a correction — the StockWise 6 Value Investing Toolkit has everything in one place.

Get the StockWise 6 Toolkit on Gumroad →

Disclaimer: This article is for educational and informational purposes only. It is not financial advice. Always conduct your own research before making investment decisions. Past performance of any brokerage or investment strategy does not guarantee future results. Harper Banks and valueofstock.com may have affiliate relationships with brokerages mentioned.