BEST OF

14 Best Online Brokers for Free Stock Trading of August 2022

Aug 1, 2022

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Welcome to the new era for free stock trading.

While stock trading price steadily declined in recent years, only a handful of brokerages offered $0 trades until October 2019, when the race to zero commissions broke into a sprint led by Charles Schwab. Now commission-free trades for stocks, exchange-traded funds and options are the industry standard among top online brokerages.

Here are NerdWallet’s picks for the best brokers for commission-free trading. (Need to back up on this process? See our step-by-step instructions for how to buy stocks.)

Best Online Brokers for Free Stock Trading

Fidelity
Learn more

on Fidelity's website

Fidelity

5.0

NerdWallet rating 
Fidelity

Fees

$0

per trade for online U.S. stocks and ETFs

Account minimum

$0

Promotion

Get $100

when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.

Learn more

on Fidelity's website


Promotion

Get $100

when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.

Why we like it

Fidelity offers $0 trading commissions, a selection of more than 3,700 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.

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.

Cons

  • Relatively high broker-assisted trade fee.

Read Full Review
Merrill Edge
Learn more

on Merrill Edge's website

Merrill Edge

4.5

NerdWallet rating 
Merrill Edge

Fees

$0

per trade

Account minimum

$0

Promotion

Up to $600

when you invest in a new Merrill Edge® Self-Directed account.

Learn more

on Merrill Edge's website


Promotion

Up to $600

when you invest in a new Merrill Edge® Self-Directed account.

Why we like it

Merrill Edge offers high-quality customer service, robust research and low fees. Customers of parent company Bank of America will love the seamless, thoughtful integration, with a single login to access both accounts.

Pros

  • Robust third-party research.

  • Integrated with Bank of America.

Cons

  • Advanced traders may find fewer securities on offer.

Read Full Review
Vanguard
Learn more

on Vanguard's website

Vanguard

4.0

NerdWallet rating 
Vanguard

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Learn more

on Vanguard's website


Promotion

None

no promotion available at this time

Why we like it

Vanguard is the king of low-cost investing, making it ideal for buy-and-hold and retirement investors. But active traders will find the broker falls short despite its $0 trade commission, due to the lack of a strong trading platform.

Pros

  • Large mutual fund selection.

  • Commission-free stock, options and ETF trades.

  • Leader in low-cost funds.

Cons

  • Basic trading platform only.

  • Limited research and data.

Read Full Review
TD Ameritrade
Learn more

on TD Ameritrade's website

TD Ameritrade

5.0

NerdWallet rating 
TD Ameritrade

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Learn more

on TD Ameritrade's website


Promotion

None

no promotion available at this time

Why we like it

TD Ameritrade meets the needs of both active traders and beginner investors with quality trading platforms; $0 commissions on online stock and ETF trades; and a large selection of mutual funds.

Pros

  • Commission-free stock and ETF trades.

  • Free research.

  • High-quality trading platforms.

  • No account minimum.

  • Good customer support.

  • Large investment selection.

Cons

  • No fractional shares.

Read Full Review
Interactive Brokers IBKR Lite
Learn more

on Interactive Brokers' website

Interactive Brokers IBKR Lite

5.0

NerdWallet rating 
Interactive Brokers IBKR Lite

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Learn more

on Interactive Brokers' website


Promotion

None

no promotion available at this time

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.

Pros

  • Large investment selection.

  • Strong research and tools.

  • Over 17,000 no-transaction-fee mutual funds.

  • NerdWallet users who sign up for IBKR Pro get a 0.25 percentage point discount on margin rates.

Cons

  • Website is difficult to navigate.

Read Full Review
SoFi Active Investing
Learn more

on SoFi Invest's website

SoFi Active Investing

4.0

NerdWallet rating 
SoFi Active Investing

Fees

$0

per trade

Account minimum

$0

Promotion

$5 to $1,000

in free stock for users who sign up via mobile app

Learn more

on SoFi Invest's website


Promotion

$5 to $1,000

in free stock for users who sign up via mobile app

Why we like it

SoFi Active Investing's $0 trading commission and $0 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.

Pros

  • Commission-free stock and ETF trades.

  • Cryptocurrency trading.

  • Fractional shares available.

  • No account minimum.

  • Free financial counseling.

Cons

  • Small selection of tradable securities.

Read Full Review
E*TRADE
Learn more

on E*TRADE's website

E*TRADE

4.5

NerdWallet rating 
E*TRADE

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $600 or more

when you open and fund an E*TRADE account

Learn more

on E*TRADE's website


Promotion

Get up to $600 or more

when you open and fund an E*TRADE account

Why we like it

E*TRADE has long been one of the most popular online brokers. The company's $0 commissions and strong trading platforms appeal to active traders, while beginner investors benefit from a large library of educational resources.

Pros

  • Easy-to-use tools.

  • Large investment selection.

  • Excellent customer support.

  • Access to extensive research.

  • Advanced mobile app.

  • Commission-free stock, options and ETF trades.

Cons

  • Website can be difficult to navigate.

Read Full Review
Webull
Learn more

on Webull's website

Webull

4.5

NerdWallet rating 
Webull

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to 12 free stocks (valued up to $30,600)

when you open and fund an account with Webull. Promotion ends 8/31/2022.

Learn more

on Webull's website


Promotion

Get up to 12 free stocks (valued up to $30,600)

when you open and fund an account with Webull. Promotion ends 8/31/2022.

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.

Pros

  • Low costs.

  • Easy-to-use platform.

  • Advanced tools.

  • Access to cryptocurrency.

Cons

  • No mutual funds.

  • Thin educational support.

Read Full Review
Ally Invest
Learn more

on Ally Invest's website

Ally Invest

4.5

NerdWallet rating 
Ally Invest

Fees

$0

per trade (on eligible US securities)

Account minimum

$0

Promotion

$100-$3,000

in cash bonus with qualifying deposit.

Learn more

on Ally Invest's website


Promotion

$100-$3,000

in cash bonus with qualifying deposit.

Why we like it

Ally Invest’s robust trading platform and lineup of free research, charting, data and analytical tools make it a good choice for active traders. But it’s also appropriate for beginning investors who will appreciate that there is no account minimum and no annual fees.

Pros

  • Commission-free trades on eligible U.S. stocks, options and ETFs.

  • No account minimum.

  • Strong web-based platform.

  • Robust research and tools.

Cons

  • No no-transaction-fee mutual funds.

  • No branches.

Read Full Review
J.P. Morgan Self-Directed Investing
Learn more

on J.P. Morgan's website

J.P. Morgan Self-Directed Investing

4.0

NerdWallet rating 
J.P. Morgan Self-Directed Investing

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $625

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


Promotion

Get up to $625

when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money

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

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.

Read Full Review
Robinhood
Learn more

on Robinhood's website

Robinhood

4.0

NerdWallet rating 
Robinhood

Fees

$0

per trade

Account minimum

$0

Promotion

1 Free Stock

after linking your bank account (stock value range $2.50-$225)

Learn more

on Robinhood's website


Promotion

1 Free Stock

after linking your bank account (stock value range $2.50-$225)

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.

Pros

  • No account minimum.

  • Streamlined interface.

  • Cryptocurrency trading.

Cons

  • No retirement accounts.

  • No mutual funds or bonds.

  • Limited customer support.

Read Full Review
Axos Self-Directed Trading
Learn more

on Axos Invest's website

Axos Self-Directed Trading

3.0

NerdWallet rating 
Axos Self-Directed Trading

Fees

$0

per trade

Account minimum

$0

Promotion

Get $200

when you open and fund an Axos Self-Directed Trading account (Promo Code “LEVEL UP”)

Learn more

on Axos Invest's website


Promotion

Get $200

when you open and fund an Axos Self-Directed Trading account (Promo Code “LEVEL UP”)

Why we like it

Axos Self-Directed — with its affordable trading fees and easy integration with Axos Bank — make the provider a logical pick for existing Axos customers or investors who are looking for a one-stop shop when it comes to banking and investing. However, the brokerage’s trading platform is relatively basic, and you’ll need to pay a monthly subscription to access features that often come free with other providers. Advanced, active traders may be better off relying on mainstays.

Pros

  • Commission-free stock and ETF trades.

  • Expansive selection of low-minimum mutual funds.

  • Integration with Axos Bank.

Cons

  • Thin investment selection.

  • Some features require a premium subscription.

  • Underwhelming educational tools.

Read Full Review

Want to compare more options? Here are our other top picks:

Disclosure: The author held no positions in the aforementioned securities at the time of publication.

Last updated on August 1, 2022

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People often identify opening a savings account as their next money move.

Marcus by Goldman Sachs Online Savings Account

4.5

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

1.50%

With $0 min. balance for APY

at Marcus by Goldman Sachs, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

1.50%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

American Express® High Yield Savings Account

4.5

NerdWallet rating 
American Express® High Yield Savings Account

APY

1.40%

With $1 min. balance for APY

at American Express National Bank, Member FDIC

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). Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating brokers and our process, read our full methodology.