Treasury bills are among the safest investments you can make, backed by the US government. We compare five platforms — from full-service brokerages to mobile-first fintech apps — on commissions, secondary-market access, laddering tools, and ease of use so you can pick the right one.
Treasury bills (T-bills) are short-term debt instruments issued by the US government, and they're among the safest investments available — backed by the full faith and credit of the federal government.1 With yields remaining attractive, individual investors have more ways than ever to buy them: the government's own TreasuryDirect portal, commission-free brokerages, and modern fintech apps all offer access.6
The right platform depends on what you prioritize. If you want direct auction access with zero fees and don't mind a clunky interface, TreasuryDirect works.1 If you want both auction and secondary-market access with laddering tools, a full-service brokerage like Fidelity or Schwab is the better fit.2 And if you just want a clean mobile experience with fractional investing, fintech apps like Public and Robinhood make T-bills accessible to anyone.4
Here's how the top platforms compare.
We looked at five factors that matter most for individual T-bill investors:
TreasuryDirect is worth mentioning as a baseline: it offers direct auction access with no fees, but its interface is widely described as clunky, and you can't sell on the secondary market — meaning you're locked in until maturity unless you transfer the security to a brokerage.1 Every platform below improves on at least one of those limitations.
Fidelity is our top pick because it covers every base: $0 online commissions on both new-issue and secondary-market Treasuries, a robust fixed-income screener, an auto-rolling ladder tool, and no account minimum.2 Whether you want to buy at auction, shop the secondary market for specific yields, or set up a hands-off ladder, Fidelity handles it all without charging you for the privilege.
The fixed-income screener is a standout — you can filter by maturity, yield, and coupon type to find exactly what you need. The auto-roll feature lets you automatically reinvest maturing T-bills into new issues, which is ideal for investors who want a set-and-forget ladder strategy.2
If you're serious about building a T-bill portfolio and want one platform that does everything well, Fidelity is the call.
Schwab matches Fidelity on cost — $0 online commissions on Treasuries — and adds Schwab BondSource, a fixed-income platform with deep research and selection tools.3 For investors who want to understand what they're buying before they commit, Schwab's research resources are hard to beat.
Schwab also offers paper trading for beginners who want to practice before using real money, and its customer service is consistently rated among the best in the industry.3 The BondSource platform gives you access to a wide inventory of fixed-income securities, making it easy to compare options side by side.
If you value analytical depth and research support alongside commission-free Treasury trading, Schwab is the stronger choice.
Public explicitly offers Treasury bond access with no account minimums and fractional investing, making it one of the most accessible fintech options for T-bill investing.4 The app's clean interface and social investment feed set it apart from traditional brokerages — you can see what other investors are doing and learn as you go.
Fractional investing is a meaningful feature here: it lets you start with smaller amounts rather than needing to buy full Treasury units, which lowers the barrier to entry significantly.4
The trade-off is that Public has fewer advanced fixed-income tools compared to Fidelity or Schwab. There's no sophisticated bond screener or auto-roll ladder. But if your priority is a smooth mobile experience and low barriers to entry, Public delivers.
Robinhood supports commission-free Treasury purchases with what is arguably the most seamless mobile interface in the investing world.5 For someone who has never bought a Treasury bill before, Robinhood's app makes the process about as simple as it gets — tap, buy, done.
Fractional shares are available, so you don't need a large sum to get started.5 The platform's design philosophy is to remove friction, and that extends to its Treasury offering.
The limitation is depth: Robinhood doesn't offer the fixed-income screeners, laddering tools, or research resources that Fidelity and Schwab provide. It's a great on-ramp, but serious T-bill investors may eventually outgrow it.
Vanguard's low-cost philosophy extends to Treasury investing: $0 commissions on Treasury purchases and laddering capabilities for investors building long-term portfolios.8 Vanguard is a trusted name in passive investing, and its approach to fixed income follows the same principle — keep costs low and let the strategy do the work.
Vanguard also offers Treasury bond ETFs for investors who prefer fund-based exposure rather than buying individual bills.8 This can be useful if you want broad Treasury market exposure without managing individual maturities.
The platform is less focused on active fixed-income trading than Fidelity or Schwab, but for a buy-and-hold investor who wants a reliable, low-cost home for T-bills, Vanguard is a solid choice.
| Feature | TreasuryDirect | Full-service brokerages (Fidelity, Schwab) | Fintech apps (Public, Robinhood) |
|---|---|---|---|
| Auction access | Yes, direct1 | Yes, via platform2 | Varies by platform4 |
| Secondary-market selling | No1 | Yes2 | Limited4 |
| Commissions | $01 | $02 | $04 |
| Laddering tools | Manual | Auto-roll / ladder2 | Limited or none4 |
| User experience | Clunky1 | Full-featured | Clean, mobile-first4 |
The bottom line: TreasuryDirect is free but inflexible. Brokerages give you the most control and tools at no commission cost. Fintech apps win on simplicity and accessibility but trade away advanced features.6
AskBuy may earn a commission when you sign up for some of the platforms listed above through our links. This doesn't affect our rankings — we recommend platforms based on what we believe is best for individual T-bill investors. Our research draws on official platform pages and established educational sources.1
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