11 Best Online Brokers for Free Stock Trading of December 2023
All of the online brokers below offer free stock trading, so investors can bypass transaction costs and build portfolios free of charge. They also charge low or no account fees.
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Commission-free trades for stocks, exchange-traded funds and options are the industry standard among top online brokerages. That means investors looking for the best free stock trading platform need to compare their options on other factors — things like investment selection, trading platform and options contract fees.
We've done that work for you. Here are NerdWallet’s picks for the best brokers for commission-free trading — these brokers also excel in other areas, offering quality customer support, high mobile app ratings and low or no account fees. (Need to back up on this process? See our step-by-step instructions for how to buy stocks.)
Commission-free trades for stocks, exchange-traded funds and options are the industry standard among top online brokerages. That means investors looking for the best free stock trading platform need to compare their options on other factors — things like investment selection, trading platform and options contract fees.
We've done that work for you. Here are NerdWallet’s picks for the best brokers for commission-free trading — these brokers also excel in other areas, offering quality customer support, high mobile app ratings and low or no account fees. (Need to back up on this process? See our step-by-step instructions for how to buy stocks.)
Investing can help outpace inflation — which is especially important when inflation is high.
Best Online Brokers for Free Stock Trading
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Robinhood Learn more on Robinhood's website | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn more on Robinhood's website | |
 Fidelity Learn more on Fidelity's website | $0 per trade for online U.S. stocks and ETFs | $0 | None no promotion available at this time | Learn more on Fidelity's website | |
 E*TRADE Learn more on E*TRADE's website | $0 per trade. Other fees apply. | $0 | Get up to $600 or more when you open and fund an E*TRADE account | Learn more on E*TRADE's website | |
 J.P. Morgan Self-Directed Investing Learn more on J.P. Morgan's website | $0 per trade | $0 | Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money. | Learn more on J.P. Morgan's website | |
 Interactive Brokers IBKR Lite Learn more on Interactive Brokers' website | $0 per trade | $0 | None no promotion available at this time | Learn more on Interactive Brokers' website |
$0
per trade
$0
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
No account minimum.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match.
High interest rate on uninvested cash.
Cons
No mutual funds or individual bonds.
Limited customer support.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. Mutual funds and bonds aren't offered, and only taxable investment accounts are available. Still, if you're looking to limit costs or trade crypto, Robinhood is a solid choice.
$0
per trade for online U.S. stocks and ETFs
$0
None
no promotion available at this time
Pros
Commission-free stock, ETF and options trades.
Large selection of research providers.
Strong customer service.
Expense-ratio-free index funds.
Highly rated mobile app.
High interest rate on uninvested cash.
Cons
Relatively high broker-assisted trade fee.
Why We Like It
Fidelity offers $0 trading commissions, a selection of more than 3,300 no-transaction-fee mutual funds and top-notch research tools and trading platform. Its zero-fee index funds and strong customer service reputation are just icing on the cake.
$0
per trade
$0
Get up to $700
when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
Pros
Easy-to-use platform.
$0 commissions.
App connects all Chase accounts.
No account minimum.
Cons
Limited tools and research.
Portfolio Builder tool requires $2,500 balance.
Low interest rate on uninvested cash.
Why We Like It
J.P. Morgan Self-Directed Investing is a clear-cut investment platform that is great for beginners looking to learn how to buy and sell investments. More advanced investors, however, may find it lacking in terms of available assets, tools and research. INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
$0
per trade
$0
None
no promotion available at this time
Pros
Large investment selection.
Strong research and tools.
Over 19,000 no-transaction-fee mutual funds.
High order execution quality.
Cons
High minimum to earn interest on uninvested cash.
Why We Like It
Interactive Brokers' IBKR Lite is a strong option for frequent traders: The broker offers international trade capabilities, no stock-trading commission and a quality trading platform.
$0
per trade
$0
None
no promotion available at this time
Pros
Four trading platforms with no minimum or fees.
Above-average mobile app.
Extensive research.
Large fund selection.
Commission-free stock, options and ETF trades.
Cons
Low interest rate on uninvested cash.
Why We Like It
Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, four free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.
$0
per trade
$0
Get up to 12 free fractional shares (valued up to $3,000)
when you open and fund an account with Webull.
Pros
Low costs.
Easy-to-use platform.
Advanced tools.
Access to cryptocurrency.
High interest rate on uninvested cash.
High order execution quality.
Cons
No mutual funds.
Thin educational support.
Why We Like It
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to a few common asset classes.
$0
per trade
$0
$5 to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock and ETF trades.
Fractional shares available.
Free financial counseling.
Cons
Small selection of tradable securities.
No mutual funds.
Low interest rate on uninvested cash.
Why We Like It
SoFi Active Investing's $0 trading commission and $1 account minimum are attractive to new investors, but a lack of investment choices such as mutual funds and bonds is a drawback for those saving for retirement.
Want to compare more options? Here are our other top picks:
Last updated on November 1, 2023
Methodology
How do we review brokers?
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
To recap our selections...
