14 Best Online Brokers for Free Stock Trading of October 2022
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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 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. (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 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. (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 |
|---|---|---|---|---|---|
 Fidelity Learn more on Fidelity's website | $0 per trade for online U.S. stocks and ETFs | $0 | 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 | |
 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 $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 | |
 Webull Learn more on Webull's website | $0 per trade | $0 | Get up to 12 free stocks (valued up to $30,600) when you open and fund an account with Webull. Promotion ends 10/31/2022. | Learn more on Webull's website |
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.
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.
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.
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
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.
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.
Fees
$0
per trade
Account minimum
$0
Promotion
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.
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
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
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 10/31/2022.
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.
Fees
$0
per trade
Account minimum
$0
Promotion
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.
Access to extensive research.
Advanced mobile app.
Commission-free stock, options 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.
Fees
$0
per trade
Account minimum
$0
Promotion
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.
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
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.
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.
Fees
$0
per trade (on eligible US securities)
Account minimum
$0
Promotion
$100-$3,000
in cash bonus with qualifying deposit.
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.
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.
Fees
$0
per trade
Account minimum
$0
Promotion
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
No account minimum.
Streamlined interface.
Cryptocurrency trading.
Cons
No retirement accounts.
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.
Fees
$0
per trade
Account minimum
$0
Promotion
Get $150
when you open and fund an Axos Self-Directed Trading account with a minimum of $1,000
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.
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.
Fees
$0
per trade
Account minimum
$0
Promotion
$5 to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock and ETF trades.
Cryptocurrency trading.
Fractional shares available.
No account minimum.
Free financial counseling.
Cons
Small selection of tradable securities.
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.
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 October 3, 2022
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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). 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.
To recap our selections...
