13 Best Online Brokers for Free Stock Trading

Open Account

on TD Ameritrade's website

TD Ameritrade

5.0

NerdWallet rating

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $600

cash credit with qualifying deposit

Open Account

on TD Ameritrade's website

Promotion

Up to $600

cash credit with qualifying deposit

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, options and ETF trades and a large selection of mutual funds.

Pros

Commission-free stock, ETF and options trades.
Free research.
High-quality trading platforms.
No account minimum.
Good customer support.
Large investment selection.

Cons

Costly broker-assisted trades.

Read Full Review

Open Account

on Interactive Brokers's website

Interactive Brokers IBKR Lite

5.0

NerdWallet rating

Fees

$0

per trade

Account Minimum

$0

Promotion

None

No promotion available at this time

Open Account

on Interactive Brokers's 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 4,300 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.
Inactivity fees on IBKR Pro.

Read Full Review

Open Account

on Robinhood's website

Robinhood

5.0

NerdWallet rating

Fees

$0

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time

Open Account

on Robinhood's website

Promotion

None

no promotion available at this time

Why we like it

Robinhood is truly free: There are no hidden costs here. You’ll give up a few things in exchange for free trades — trading tools, research, education, investment options beyond stocks and ETFs — but if limiting costs is your No. 1 concern, 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

Open Account

on TradeStation's website

TradeStation

4.5

NerdWallet rating

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $2,500

cash credit with a qualifying deposit

Open Account

on TradeStation's website

Promotion

Up to $2,500

cash credit with a qualifying deposit

Why we like it

TradeStation is a strong choice for active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. Trades of up to 10,000 shares are commission-free.

Pros

High-quality trading platforms.
Comprehensive research.
Commission-free stock, ETF and options trades.
Advanced tools.
Active trader community.

Cons

Free trading on advanced platform requires TS Select.
No transaction-fee-free mutual funds.
Plans and pricing can be confusing.

Read Full Review

Open Account

on SoFi Invest's website

SoFi Active Investing

4.5

NerdWallet rating

Fees

$0

per trade

Account Minimum

$0

Promotion

Free

career counseling plus loan discounts with qualifying deposit

Open Account

on SoFi Invest's website

Promotion

Free

career counseling plus loan discounts with qualifying deposit

Why we like it

SoFi Active Investing's $0 trading commission and $0 account minimum is 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.
Limited track record.

Read Full Review

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

Summary of Best Online Brokers for Free Stock Trading

Broker	Commissions	Promotion	Account Minimum	Learn More
ETRADE NerdWallet rating Open Account on ETRADE's website	$0 per trade	$100 to $2,500 cash credit with a qualifying deposit or transfer	$0	Open Account on E*TRADE's website
TD Ameritrade NerdWallet rating Open Account on TD Ameritrade's website	$0 per trade	Up to $600 cash credit with qualifying deposit	$0	Open Account on TD Ameritrade's website
Interactive Brokers IBKR Lite NerdWallet rating Open Account on Interactive Brokers's website	$0 per trade	None No promotion available at this time	$0	Open Account on Interactive Brokers's website
Robinhood NerdWallet rating Open Account on Robinhood's website	$0 per trade	None no promotion available at this time	$0	Open Account on Robinhood's website
TradeStation NerdWallet rating Open Account on TradeStation's website	$0 per trade	Up to $2,500 cash credit with a qualifying deposit	$0	Open Account on TradeStation's website
SoFi Active Investing NerdWallet rating Open Account on SoFi Invest's website	$0 per trade	Free career counseling plus loan discounts with qualifying deposit	$0	Open Account on SoFi Invest's website
Firstrade NerdWallet rating Read review	$0 per trade	Up to $200 in Transfer Fee Rebates	$0	Read review
Merrill Edge NerdWallet rating Read review	$0 per trade	Up to $600 cash credit with qualifying deposit	$0	Read review
Ally Invest NerdWallet rating Read review	$0 per trade	$50 - $3,500 in cash bonus with qualifying deposit.	$0	Read review
eOption NerdWallet rating Read review	$0 per trade	None no promotion available at this time	$500	Read review
Vanguard NerdWallet rating Read review	$0 per trade	None no promotion available at this time	$0	Read review
Charles Schwab NerdWallet rating Read review	$0 per trade	None No promotion at this time	$0	Read review
Fidelity NerdWallet rating Read review	$0 per trade	None No promotion available at this time	$0	Read review

Last updated on April 1, 2020

Methodology

NerdWallet's ratings for brokers and robo-advisors are weighted averages of several categories, including investment selection, customer support, account fees, account minimum, trading costs and more. Our survey of brokers and robo-advisors includes the largest U.S. providers by assets under management, plus notable and/or emerging players in the industry. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

To recap our selections...

NerdWallet's Best Online Brokers for Free Stock Trading

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