11 Best Online Brokers for Free Stock Trading of February 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.)
Best Online Brokers for Free Stock Trading
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 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 | |
 Merrill Edge Learn more on Merrill Edge's website | $0 per trade | $0 | Up to $600 when you invest in a new Merrill Edge® Self-Directed account. | Learn more on Merrill Edge'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 | |
 Webull Learn more on Webull's website | $0 per trade | $0 | Get up to 12 free fractional shares (valued up to $30,600) when you open and fund an account with Webull. Promotion ends 2/28/2023. | Learn more on Webull's website | |
 E*TRADE Learn more on E*TRADE's website | $0 per trade | $0 | Get up to $600 or more when you open and fund an E*TRADE account | Learn more on E*TRADE's website |
$0
per trade
$0
None
no promotion available at this time
Pros
Large investment selection.
Strong research and tools.
Over 18,000 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.
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
Up to $600
when you invest in a new Merrill Edge® Self-Directed account.
Pros
Robust third-party research.
Integrated with Bank of America.
Cons
Advanced traders may find fewer securities on offer.
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.
$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.
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
Get up to 12 free fractional shares (valued up to $30,600)
when you open and fund an account with Webull. Promotion ends 2/28/2023.
Pros
Low costs.
Easy-to-use platform.
Advanced tools.
Access to cryptocurrency.
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
Get up to $600 or more
when you open and fund an E*TRADE account
Pros
Easy-to-use tools.
Large investment selection.
Excellent customer support.
Advanced mobile app.
Commission-free stock, options, mutual fund and ETF trades.
Cons
Website can be difficult to navigate.
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.
$0
per trade
$0
None
no promotion available at this time
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.
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.
$0
per trade (on eligible US securities)
$0
None
no promotion available at this time
Pros
Commission-free trades on eligible U.S. stocks, options and ETFs.
No account minimum.
Strong web-based platform.
Cons
No fractional shares.
Limited third-party research providers.
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.
$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.
Cons
No mutual funds or 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.
Want to compare more options? Here are our other top picks:
Last updated on February 1, 2023
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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...
