Borrowing against your portfolioRates checked 2026-10-24
What it costs to borrow against your stocks
On a $100,000 margin loan, published rates run from 4.75% at Robinhood to 11.20% at E*TRADE from Morgan Stanley. That gap is about $6,450 a year in interest on the same loan. Here is every major broker's published rate, and the arithmetic for what happens if the market falls.
Margin rates by loan size
The rate each broker publishes for a margin loan of that size. Click a broker for its full schedule and the page it comes from.
| Broker | $10K | $50K | $100K | $500K | $1M |
|---|---|---|---|---|---|
| Robinhood | 5.25% | 5.05% | 4.75% | 4.75% | 4.50% |
| Public | 5.15% | 5.15% | 5.00% | 4.75% | 4.50% |
| Interactive Brokers IBKR Pro | 5.38% | 5.38% | 5.38% | 4.98% | 4.93% |
| M1 | 5.90% | 5.90% | 5.90% | 5.90% | 5.90% |
| Interactive Brokers IBKR Lite | 6.38% | 6.38% | 6.38% | 6.38% | 6.38% |
| SoFi Invest | 9.75% | 9.00% | 8.50% | 7.00% | 6.00% |
| Webull | 8.74% | 8.74% | 8.74% | 8.74% | 8.74% |
| Ally Invest | 11.50% | 10.50% | 9.25% | 7.75% | 7.00% |
| tastytrade | 11.00% | 10.00% | 9.50% | 8.50% | 8.00% |
| Charles Schwab | 12.075% | 10.625% | 10.575% | call | call |
| Fidelity | 12.075% | 10.625% | 10.575% | call | call |
| Vanguard | 12.25% | 11.25% | 10.75% | call | call |
| Firstrade | 12.25% | 11.50% | 11.00% | 8.85% | 8.25% |
| E*TRADE from Morgan Stanley | 12.45% | 11.70% | 11.20% | call | call |
Every tier, base rates and the brokers that do not publish rates
Know the day your margin rate changes
Margin rates move with the Fed. After its September 17 raise, Schwab, Fidelity and Vanguard dated new base rates the next day, and IBKR's benchmark moves every business day with overnight rates. Set an alert and you hear about it before your next statement does.
Two ways to borrow, one risk
A margin loan comes from your broker and can buy more securities. A securities-based line of credit comes from a bank and cannot. Both are secured by the same thing, your portfolio, and both let the lender sell it if prices fall far enough, without asking you first and at whatever price the market gives. You can lose more than you put in. The rate is what you pay in a good year. The margin call calculator shows what a bad one looks like.
The rates on this site are copied from each broker’s own schedule, with the date the broker prints and a link to the page. Where a broker publishes no rate, such as Merrill Edge, we say so rather than estimate one.
Questions people ask
Why are some brokers' margin rates so much lower?
They price off a market benchmark. Interactive Brokers, Robinhood, Public and M1 add a spread to a rate tied to fed funds, while Schwab, Fidelity, Vanguard and E*TRADE set an internal base rate near 10% and add or subtract from it by balance.
Can I negotiate a margin rate?
Some brokers say outright that balances of $500,000 or more should call for pricing, and the schedules here are the starting point. A published rate from a cheaper broker is useful to have in hand when you ask.
How much can I borrow on margin?
For most stocks, up to 50% of the purchase price under the Federal Reserve's Regulation T, and you must keep equity of at least 25% afterward under FINRA Rule 4210. Brokers often require more.
Is a securities-based line of credit cheaper than margin?
It can be at Schwab, Fidelity, Vanguard and E*TRADE, where published margin rates on $100,000 run above 10.5%. Most SBLOC providers do not publish rates. Get a quote and put it in the interest calculator next to the published margin rates.
Rates are copied from each broker's own published schedule and change without notice; your broker's statement and disclosures govern. Disclosures.