Best Deposit Bond Firms in USA
Non-sponsored, Expert Verified and Transparently Ranked Deposit Bond Firms in USA
Published: December 22, 2025 | Verified by: Ted Scheiman & Rob Watts
Executive Summary
We analyzed 5 solutions. Top Recommendation: Bonds Marketplace by Interactive Brokers scored highest due to Ultra‑low bond commissions (quoted as a small percentage of trade value) and institutional‑grade trading tools, making it a top choice for active bond traders who need depth of markets and advanced functionality..
Content Verification
Side-by-Side Comparison
| Feature | #1 Bonds Marketplace (Interactive Brokers) | #2 Bonds, CDs & Fixed Income (Charles Schwab) | #3 Fixed Income, Bonds & CDs (Fidelity Investments) | #4 Bond Account (Public Holdings (Public.com)) | #5 J.P. Morgan Self-Directed Investing, Bonds (J.P. Morgan) |
|---|---|---|---|---|---|
| Best For | Ultra‑low bond commissions (quoted as a small percentage of trade value) and institutional‑grade trading tools, making it a top choice for active bond traders who need depth of markets and advanced functionality. | Large bond inventory (over 60, 000 bonds cited by industry reviews) combined with BondSource’s advanced filtering by yield, credit rating, maturity, and bond type, making it a leading all‑around bond broker for U.S. investors. | Very broad bond inventory (over 75, 000 fixed income securities) and low-cost structure with no markup on new-issue bonds and competitive secondary market pricing, making it stand out for cost-conscious bond buyers. | Positioned specifically as an automated bond account offering with no account minimums and a simple user experience, and highlighted by major reviewers as a leading option for automated bond investing. | Backed by a large, well‑established bank with unified access to banking and investing plus commission‑free trading on many securities, making it attractive for customers who want bond investing within a full‑service financial relationship. |
| Trading Costs | US Treasuries: 0.002% of face value to $1M; 0.0001% above; $5 min; no max. (interactivebrokers.com) Corporate & CDs: 0.1% first $10k face; 0.025% thereafter; $1 min; max $250 or 1% value. (interactivebrokers.com) Municipals: 0.05% first $10k; 0.0125% thereafter; $1 min; max $125 or 1%. (interactivebrokers.com) Plus FINRA TAF and venue fees (BondDesk/MuniCenter) where applicable. (interactivebrokers.com) | Online: Treasuries (auction & secondary) $0. Other secondary bonds/CDs/agencies/munis/STRIPS: $1 per bond ($10 min, $250 max). New-issue bonds & CDs: $0 (selling concession in price). Broker-assisted: online pricing +$25. Large blocks (>250 bonds) may get special pricing. (schwab.com) | Online secondary bonds: $1 per bond mark-up; $250 max ($50 max if maturity ≤1 year). (fidelity.com) New-issue bonds: $0. (fidelity.com) U.S. Treasuries: auctions and secondary online $0; rep-assisted $19.95. (fidelity.com) New-issue brokered CDs: $0. Secondary CDs: $1 per CD to buy or sell. (fidelity.com) | Buys and sells incur a corporate bond markup/markdown of $0.50 per $100 par value (50 bps) in the Bond Account. (help.public.com) This fee also applies when selling bonds to withdraw funds. (public.com) | Online bond trades: U.S. Treasury bills/notes/bonds (secondary market) $0. Secondary-market corporate, municipal, and agency bonds: $10 per trade + $1 per bond over 10 (max $250). Call-in: $30 per trade + $1 per bond over 10 (max $270). New-issue brokered CDs: $0 (selling concession included). (jpmorgan.com) |
| Bond Inventory Size | Over 1 million bonds globally (corporate, municipal, U.S. Treasuries, non‑US sovereign) available via IBKR Bond Marketplace. (interactivebrokers.com) | Over 200, 000 distinct daily CUSIPs available (including 150, 000+ municipal bonds) from listings across 225+ dealers; figures as of April 2025. (advisorservices.schwab.com) | Over 100, 000 individual bonds available; 150, 000+ total offerings (bonds & CDs) via Depth of Book. (fidelity.com) | 10 bonds per Bond Account portfolio (pre-selected corporate bonds; equal par value allocation). (public.com) | N/A |
| User Interface and Automation | Web UI: Bond Search Tool with filters (maturity, yield, credit quality), sortable results, plot YTW vs Duration, save scans, export/copy to watchlists, and compare pricing vs other brokers. (interactivebrokers.com) Automation: TWS/Client Portal/FIX APIs enable programmatic bond trading and data access. (interactivebrokers.com) | BondSource’s web UI provides advanced filters, saved searches, and market‑depth views in trade pop‑ups. Automation includes a CD & Treasury Ladder Builder to construct/purchase ladders and Auto‑Rollover to reinvest maturing CDs and new‑issue Treasuries with email notifications and management from Positions. (schwab.com) | Web UI: Fixed Income Dashboard shows portfolio summary, up to 1, 000 holdings, cash‑flow charts, and analytics; Bond Ladder Tool offers a one‑page workflow with pre‑purchase income/principal charts; Depth of Book search spans ~150k offerings. (fidelity.com) Automation: Auto Roll reinvests maturing Treasuries/CDs (incl. model CD ladders) and fixed‑income alerts cover new issues, maturities, and rating changes. (fidelity.com) | UI: Available in app and on web; Income Hub shows monthly income, asset-class filters, and 12‑month estimates. Automation: Deposits/coupons auto-buy $100 increments via Buy Order Methodology; interest auto‑reinvests at ~$100; no auto‑rebalancing except corporate actions. (public.com) | Available on Chase Mobile app and web, the fixed‑income UI adds a Yield Comparison Table, customizable bond/Treasury/muni/CD screeners you can save, and a streamlined trade ticket with quick yield view and min/max quantity display. (chase.com) Saved screens enable repeatable workflows; tools are integrated within the broader Chase interface. (chase.com) |
Interactive BrokersCompany Information
Description
Interactive Brokers provides a trading platform that allows individuals and institutions to trade a wide array of financial instruments including stocks, options, futures, currencies, and bonds worldwide. It offers various account types and services tailored for different customer segments, including individuals, advisors, and institutions.
What They Do
Interactive Brokers is a financial services company that offers an online trading platform for individuals and institutions to trade stocks, options, futures, currencies, and bonds on global financial markets.
Who They Serve
The company serves both individual investors and institutional customers, including advisors, family offices, hedge funds, and small businesses.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Navigation Links
Summary
Interactive Brokers offers a global bond trading platform with electronic access to a wide range of government, corporate, and municipal bonds, aimed at active and professional traders as well as sophisticated retail investors. It supports low‑cost bond trading with advanced order types and analytics.
Key Features
- Bond Search Tool for comparing yields, maturities, and credit quality
- Direct access to a broad universe of bonds: US government, corporate, municipal, CDs, non-US sovereign
- Trading hours: US Treasuries, EGBs, and UK Gilts up to 22 hours a day, five days a week
- Client-to-client bond trading for better terms and larger block sizes
- Transparent commission structure with no hidden fees
- Support for fixed-income futures and options
Key Benefits
- No mark-ups or built-in spreads; low, transparent commissions
- Access to over 1 million bonds globally
- Nearly 24-hour trading for US Treasuries, European Government Bonds (EGBs), and UK Gilts
- Direct client-to-client bond trading, bypassing intermediaries
- Transparent price discovery and improved strategy performance
- Enhanced liquidity and flexibility for diverse trading strategies
- Awarded 'Best for Active Bond Traders' by Benzinga
Who Is It For
- Self-directed individual investors
- Institutional investors
- Registered Investment Advisors
- Family Offices
- Proprietary Trading Groups
- Hedge Funds
- Introducing Brokers
- Small Businesses
- Money Managers
The Bond Marketplace has a Vast Selection of Global Fixed Income Securities
Interactive Brokers offers a vast selection of global fixed income securities, accessible via the Bond Search Tool.
- Over 1 million bonds globally
- US Treasuries, corporate, municipal, CDs, non-US sovereign bonds
The IBKR Advantage
Key advantages of using IBKR for bond trading.
- No mark-ups or built in spreads
- Low, transparent commissions
- Trade US Treasuries around the clock
- Bond Search tool for yield comparison
- Overnight trading for US Treasuries, EGBs, UK Gilts
- Direct client-to-client trading
- Award-winning platform
No Mark Ups or Built-in Spreads
Bond trades are executed without hidden mark-ups or built-in spreads, providing clearer price discovery and improved performance.
- Treasury bills, notes and bonds: 0.2 bps for first USD 1 million, 0.01 bps above
- Corporate bonds: 10 bps for first USD 10,000, 2.5 bps above
- Municipal bonds: 5 bps for first USD 10,000, 1.25 bps above
Greater Breadth = Greater Opportunity
Direct access to a broad and diverse bond universe for better execution, flexibility, and performance.
- US government securities
- 32,456 Corporate bonds
- 1,055,573 Municipal securities
- 7,979 CDs and non-US sovereign bonds
- Fixed-income futures and options
Nearly 24 Hour Access to Global Bond Markets
Trade US Treasuries, EGBs, and UK Gilts up to 22 hours a day, five days a week.
- Trading hours: 8:00 pm to 5:00 pm ET (7:00 pm to 5:00 pm ET from Nov to early Mar)
Discover Better Bond Pricing with Our Bond Search Tool
Use the Bond Search Tool to compare yields and prices across over 1 million bonds.
- Search by maturity, yield, credit quality
- Compare IBKR prices and commissions with other brokers
Client-to-Client Bond Trading
Internal crossing of trades between IBKR clients for better terms and access to unique bonds.
- Avoid hidden fees
- Negotiate better terms
- Access to unique bonds and larger block sizes
Understanding Bond Types and Structures
Overview of bond issuer types and common bond structures.
- Government, municipal, corporate, agency, supranational bonds
- Fixed-rate, floating-rate, zero-coupon, convertible, callable, puttable bonds
The Role of Credit Ratings in Bonds
Credit ratings assess issuer creditworthiness and influence bond pricing and demand.
- Investment grade: BBB-/Baa3 and above
- High yield: Below investment grade
Key Bond Terms to Know
Definitions of important bond terms such as face value, coupon, maturity, yield, duration, and more.
- Face Value, Coupon, Maturity, Yield, Yield to Maturity, Yield to Worst, Coupon Rate, Call Provision, Duration, Credit Rating, Spread, Bid-Ask Spread, Accrued Interest
How to Buy Bonds
Steps for self-directed investors to buy bonds through Interactive Brokers.
- Find bonds using search tools
- Enter order online
- Review total cost including commission
Why Trade Bonds?
Benefits and risks of bond investing.
- Steady income, capital preservation, diversification, lower volatility, tax advantages, predictable returns
- Risks: interest rate, credit, inflation, liquidity, call, reinvestment
Interactive Brokers’ Education and Resources for Bonds
Educational resources including courses, webinars, and commentary.
- Traders' Academy courses
- IBKR Webinars
- Traders' Insight blog
Get Started with the Bond Search Tool
User guides for the Bond Search Tool on different trading platforms.
- Trader Workstation (TWS) guide
Resources
Supporting Resources
Detailed Comparison
Trading Costs
Bond Inventory Size
User Interface and Automation
Charles SchwabCompany Information
Description
Charles Schwab is a financial services company offering a full range of brokerage, banking, and financial advisory services through its operating subsidiaries. It provides an array of investment products, financial planning, and wealth management solutions to individual and institutional investors.
What They Do
Charles Schwab offers a comprehensive range of financial services including brokerage, banking, and investment management.
Who They Serve
Individuals, institutions, and investment professionals.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Navigation Links
Summary
Charles Schwab offers BondSource, a dedicated fixed income platform providing access to tens of thousands of bonds including Treasuries, corporates, munis, and CDs for U.S. retail and institutional investors. It is designed for investors who want a broad selection of bonds with robust research and screening tools.
Key Features
- Access to thousands of individual bonds from hundreds of dealers
- Straightforward, transparent pricing
- Over a thousand new bond issues available annually
- Hundreds of no-load mutual funds and commission-free bond ETFs
- Fixed Income Specialists for personalized guidance
- Online trading features for self-directed investors
- Professional management through Wasmer Schroeder Strategies and other solutions
- Bond ladders, bullets, barbells, and other strategies supported
Key Benefits
- Potential for regular, predictable income
- Portfolio diversification
- Capital preservation
- Potential tax benefits (e.g., municipal bonds)
- Access to a wide range of fixed income products
- Objective, non-commissioned guidance from specialists
- Professional management options available
Who Is It For
- Investors seeking regular income
- Those looking to diversify their portfolios
- Individuals aiming to preserve capital
- Investors interested in potential tax benefits
- Clients nearing or in retirement
- Self-directed investors and those seeking professional management
Resources
Supporting Resources
Detailed Comparison
Trading Costs
Bond Inventory Size
User Interface and Automation
Fixed Income, Bonds & CDs
Fidelity InvestmentsCompany Information
Description
Fidelity Investments provides investment solutions and advisory services, allowing users to invest confidently and save for various financial goals, including retirement, children's education, and health care.
What They Do
Investment services including trading, wealth management, and retirement planning.
Who They Serve
Individual investors and financial advisors.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Summary
Fidelity’s fixed income platform provides access to more than 75, 000 fixed income securities, including U.S. Treasury, corporate, municipal bonds, and CDs, with online tools to research and trade bonds. It targets U.S. investors seeking low-cost bond investing with extensive product coverage.
Key Features
- Over 100, 000 individual bonds available
- Brokered CDs from multiple banks
- Fractional CDs with $100 minimum investment
- Deferred fixed annuities with guaranteed rates
- Credit Union Share Certificates (CUSCs) with NCUA insurance
- Bond mutual funds (taxable and tax-exempt, Fidelity and non-Fidelity)
- Bond ETFs for low minimum investment and diversification
- Money market funds (taxable and tax-exempt)
- Fixed income separately managed accounts (SMAs)
- Wealth Management with dedicated advisor for eligible clients
- Fixed Income Dashboard for cash flow visualization (login required)
- Research tools, bond ladders, and retirement income strategy tools
Key Benefits
- Access to a wide range of fixed income investment options
- Low, transparent fees ($1 per bond online)
- Free online trading for US Treasuries and CDs
- Specialist support and high net worth desk for eligible clients
- FDIC and NCUA insurance on eligible CDs and share certificates
- Tools and research to help manage and optimize fixed income portfolios
Who Is It For
- Investors seeking income, diversification, or tax efficiencies
- Investors looking for protection from stock market volatility
- Self-directed investors wanting to build their own fixed income portfolio
- Investors preferring mutual funds or ETFs for diversification
- Investors seeking professional management of fixed income assets
- High net worth clients (with access to dedicated support)
Fixed income, bonds, and CDs
Bonds, CDs, and other fixed income investments can provide income, diversification, tax efficiencies, and protection from stock market volatility.
Choice
Access to a wide range of fixed income investment options, including FDIC-insured CDs, bond funds, over 100,000 individual bonds, and professionally managed bond portfolios.
Value
Low, transparent fees of just $1 per bond, plus free online trading for US treasuries and CDs.
Support
Access to specialists in fixed income and, for eligible clients, a high net worth desk for portfolio integration support.
How do you like to invest?
Fidelity offers options for self-directed investors, fund investors, and those seeking managed solutions.
- Choose your own individual investments: individual bonds, CDs, annuities, CUSCs
- Invest in funds: bond mutual funds, bond ETFs, money market funds
- Have investments managed: fixed income SMAs, Wealth Management
Research and tools
Stay up to date with news, market data, and research on fixed income investing and the bond market. Access tools to create retirement income strategies, build bond ladders, and monitor market updates.
Education
Learn about the risks and opportunities of fixed income options, investing for income, and attend exclusive webinars.
Ready to get started?
Open an account, call, chat, or visit an Investor Center to begin investing in fixed income products.
Resources
Supporting Resources
Detailed Comparison
Trading Costs
Bond Inventory Size
User Interface and Automation
Public Holdings (Public.com)Company Information
Description
Public is a platform that empowers individuals to invest in stocks, options, ETFs, cryptocurrency, and bonds with services designed for modern investors including AI-powered analysis and a unique options trading rebate program.
What They Do
Public provides a platform for investing in various assets like stocks, cryptocurrencies, ETFs, and options. They offer unique services such as AI-powered analysis and options trading rebates.
Who They Serve
Individual investors who are looking to build their wealth and make informed investment decisions.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Navigation Links
Summary
Public provides automated bond-focused investment accounts that allocate customer funds into bond portfolios, simplifying fixed income investing for U.S. retail investors. It is designed for users who prefer a more hands-off, automated approach to bond exposure.
Key Features
- Portfolio of 10 fractionalized corporate bonds (investment-grade and high-yield)
- Equal par value allocation across all 10 bonds
- Yield is locked in at purchase for each deposit
- Regular interest payments (20 per year, semi-annual per bond, staggered schedules)
- Automatic reinvestment of interest income at current yield
- Self-directed account structure
- Available via Public app and web
Key Benefits
- Lock in your yield at the time of purchase (current average YTW: 5.6%)
- Receive 20 regular interest payments per year from 10 bonds
- Diversified exposure to investment-grade and high-yield corporate bonds
- Low minimum investment ($1,000) compared to typical $10,000+ bond minimums
- Automatic reinvestment of income once it reaches ~$100
- Ability to schedule recurring investments (weekly or monthly)
- Monitor income sources and projected earnings in the Public app
Who Is It For
- Investors seeking higher yield than cash or Treasury accounts
- Individuals looking for regular income from bond interest payments
- Those who want to access corporate bonds with lower minimums ($1,000)
- Investors comfortable with the risks of corporate and high-yield bonds
What is a Bond Account?
Invest in a diversified portfolio of investment-grade and high-yield corporate bonds that earn yield over an extended period of time. Yield is locked in at purchase, with regular interest payments and low minimums.
- Lock in your yield at purchase
- Minimum $1,000 investment
- Receive 20 interest payments per year
- Fractionalized access to 10 bonds
Lock in your 5.6% yield in two steps
Deposit cash to allocate to 10 bonds, then receive regular payments throughout the year. Income is reinvested at ~$100.
- Deposit cash
- Get regular payments (20 per year)
- Automatic reinvestment at ~$100
Earn 5.6% even if the Fed cuts rates.
Lock in your yield before potential rate cuts. Your yield is fixed for each deposit until bonds mature, are called, or default.
- Yield is locked in for each deposit
- First bond maturity in 2028 (4 years of yield)
- Protect earnings from rate cuts
Explore the key stats
Portfolio stats: 5.6% yield, 6.07% avg coupon, BBB/BBB- avg rating, 4.33 avg duration, $60.68 annual income per $1,000.
- 5.6% yield
- 6.07% average coupon
- BBB/BBB- average rating
- 4.33 average duration
- $60.68 annual income per $1,000
What else do I need to know?
FAQs on how to invest, benefits/risks, comparison to other yield accounts, interest rate changes, fees, and protection.
- Invest via app or web, $1,000 minimum
- Lock in yield at purchase
- Higher yield and risk than cash/Treasury accounts
- Fees: 50bps markup, $3.99/month (waived until 2025), $0.50/$100 withdrawal
- SIPC protection up to $500,000
Resources
Supporting Resources
Detailed Comparison
Trading Costs
Bond Inventory Size
User Interface and Automation
J.P. Morgan Self-Directed Investing, Bonds
J.P. MorganCompany Information
J.P. Morgan is a global financial services firm that provides a wide range of financial services to corporations, institutions, and individuals. They offer solutions in commercial banking, institutional investing, payments, credit and financing, and investment banking.
Keywords
Summary
J.P. Morgan Self‑Directed Investing allows U.S. investors to trade bonds alongside stocks, ETFs, and funds with $0 account minimums inside a self‑directed brokerage account. It is integrated with the broader J.P. Morgan and Chase ecosystem for banking and investing.
Detailed Comparison
Trading Costs
User Interface and Automation
Our Ranking Methodology
How we rank these offerings
We ranked these Deposit Bond Firms in USA based on three key factors: Bond Inventory Size (40% weight), Trading Costs (35% weight), and User Interface and Automation (25% weight). Interactive Brokers scored highest because it offers the largest bond inventory and competitive pricing, which are crucial for cost-effective and diverse bond investing. Its advanced platform features also contributed to a user-friendly experience.
Ranking Criteria Weights:
Frequently Asked Questions
- What are the typical costs and pricing models for fixed income platforms in the USA?
- Typical costs for accessing bond trading platforms such as those provided by Charles Schwab and Interactive Brokers involve commission structures that often focus on low-cost trading. Platforms like Fidelity offer some of the most competitive rates with a focus on low-cost bond investing, which are essential for retail and institutional investors aiming to maximize returns. Interactive Brokers specifically targets professional traders with low trading costs, supported by sophisticated analytics.
- What key selection criteria should decision-makers consider when choosing deposit bond firms?
- Decision-makers should assess the range of bonds available, as platforms like Charles Schwab and Fidelity offer access to tens of thousands of securities including Treasuries, corporates, and municipal bonds. Comprehensive research tools and analytics, available through platforms like J.P. Morgan's self-directed investing, are also crucial for informed decision-making. The integration with broader financial services, as seen in J.P. Morgan, can provide additional value through synergistic product offerings.
- How do fixed income platforms in the USA ensure compliance with industry standards?
- Compliance with industry standards is ensured through rigorous adherence to regulatory requirements such as those set by the SEC and FINRA. Platforms like Interactive Brokers and Fidelity maintain compliance by offering transparency in trading activities and robust client disclosures. Automated systems for compliance monitoring, as used by many trading platforms, ensure real-time adherence to legal standards, minimizing risks of trading infractions.
- What are the common implementation challenges faced and their solutions in adopting a bond trading platform?
- Implementation challenges include the integration of new platforms with existing financial systems and training users on sophisticated platforms. Companies like Public that offer automated bond-focused investment accounts simplify this by providing hands-off investment management. Solutions often involve leveraging professional support from platform providers and utilizing in-depth training programs offered by companies like J.P. Morgan to facilitate seamless adoption.
- How is ROI and value delivery measured for users of deposit bond firms?
- ROI is typically measured by evaluating the returns on investments versus the costs of trading on these platforms. Fidelity, with its low-cost trading model, maximizes returns for users by minimizing fees. The availability of comprehensive research and trading tools, such as those provided by Charles Schwab, allows users to make informed investment decisions, significantly impacting the overall value delivery positively.
Our Promise: We promise to deliver the highest quality company and offering data, free from sponsored bias. We compile data from across the internet, to give the most accurate and true rankings, according to our transparent algorithms.