8 Best Discount Brokers of July 2025
Fees and commissions cut into your investment returns. The discount brokers below charge no commissions and low or no account fees.
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A discount broker is an online broker with rock-bottom pricing — generally, discount brokers charge no commission to buy or sell stocks, and keep other fees as low as possible. Those fees include inactivity fees, annual fees and account transfer fees, as well as options contract costs.
Here are the brokers with the best low-fee accounts — none of these brokers charge commissions, and all charge options contract fees of $.50 per contract or less. (In fact, many don't charge an options contract fee at all.) These discount brokers will help you keep transaction costs down without hindering your ability to trade stocks, exchange-traded funds or options.
ALSO CONSIDER: Best brokerage account promotions || Brokerage accounts with high interest rates || Best stock apps
Best Discount Brokers
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
5.0/5 | $0 per trade | $0 | Get 20 free fractional shares (each valued up to $3,000) when you open and fund an account with Webull. | Learn moreon partner's site on Webull's website | |
4.6/5 | $0 | $0 | Earn up to $10,000 when you transfer your investment portfolio to Public. | Learn moreon partner's site on Public's website | |
4.4/5 | $0 per trade | $0 | Get up to $1,000 in stock when you fund a new account. Terms & Conditions Apply. | Learn moreon partner's site on SoFi Invest®'s website | |
4.7/5 | $0 | $0 | Earn 8.1% APY on your uninvested cash for 3 months + up to 60 Free Stocks with qualified deposits. Terms & Conditions apply. | Learn moreon partner's site on Moomoo's website | |
4.5/5 | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn moreon partner's site on Robinhood's website |
Fees
$0
per trade
Account minimum
$0
Promotion
Get 20 free fractional shares (each valued up to $3,000)
when you open and fund an account with Webull.
Our Take
Commission-free stock, options and ETF trades.
Easy-to-use platform.
Advanced tools.
High interest rate on uninvested cash.
High order execution quality.
No mutual funds.
Separate app required to trade crypto.
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, it lacks access to mutual funds.
Fees
$0
Account minimum
$0
Promotion
Earn up to $10,000
when you transfer your investment portfolio to Public.
Our Take
Commission-free stock, options and ETF trades.
Rebates for trading options.
Easy-to-use signup and trading interface.
High interest rate on uninvested cash.
No mutual funds.
Lack of tools (e.g. customizable investment screeners).
Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto and bonds, as well as a high-yield cash account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.
Fees
$0
per trade
Account minimum
$0
Promotion
Get up to $1,000
in stock when you fund a new account. Terms & Conditions Apply.
Our Take
No commissions on stock, options and ETF trades
IPO access.
Low interest rate on uninvested cash.
SoFi's $0 trading commissions, no account minimum and fractional share offerings make it an attractive choice for investors on a budget.
Fees
$0
Account minimum
$0
Promotion
Earn 8.1% APY
on your uninvested cash for 3 months + up to 60 Free Stocks with qualified deposits. Terms & Conditions apply.
Our Take
Commission-free stock, ETF and options trades.
No contract fee on equity options.
Popular, easy-to-use app.
High yield on uninvested cash.
Low margin rates.
No mutual funds or bonds.
Lower than average execution quality.
Moomoo offers free stock and option trades in an easy-to-use trading platform that charges low margin rates. It's not built for passive retirement investors — IRAs aren't supported, nor are mutual funds — but there's a lot to like about Moomoo for more active traders.
Fees
$0
per trade
Account minimum
$0
Promotion
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Our Take
Commission-free stock, options and ETF trades.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match (3% for Gold members).
High interest rate on uninvested cash.
No mutual funds.
Little third-party research.
Robinhood provides free stock, options, ETF and cryptocurrency trades (but no bonds or mutual funds), and its account minimum is $0, too. Robinhood Gold offers a high interest rate on uninvested cash and low margin rates.
Fees
$0
Account minimum
$0
Promotion
None
no promotion available at this time
Our Take
Powerful trading platform.
Commission-free stock, options and ETF trades.
Low options contract fees.
Strong mobile trading app.
Limited external research providers.
Low interest rate on uninvested cash.
Advanced platform not suitable for beginners.
Tastytrade is a unique broker that offers a highly advanced trading experience. Investors will like the broad investment selection and advanced trading features, but beginners should be aware that this is not the platform for them.
Want to compare more options? Here are our other top picks:
Last updated on June 2, 2025
Methodology
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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.
NerdWallet's Best Discount Brokers of July 2025
Frequently asked questions
How much do discount brokers charge?
All of the brokers we've included here charge no trading commissions for stock, ETF or options trades. You may encounter other fees — some brokers charge options contract fees, and some mutual funds or other investments may come with transaction fees.
What is the difference between a full-service broker and a discount broker?
With a full-service broker, you pay higher fees in exchange for investment guidance and management, among other perks.
With a discount broker, you pay far less to trade investments, but generally, you’re in charge of managing your trades, and you’re likely to pay an extra fee if you want help from a person.
How can I trade online without a broker?
If you’re looking to sidestep a broker entirely, you can try investing directly through a company’s direct investment plan (aka DRIPs). Keep in mind, though, that generally it’s not as easy as trading with a broker — and only some publicly traded companies offer such plans.
How can I invest in stocks with little money?
It’s easier than ever to invest in stocks with very little money, in large part because a growing number of brokerages and robo-advisors offer fractional shares. These allow you to buy a small piece of a stock share, instead of the entire share. That means rather than needing hundreds of dollars to buy a pricey stock, you can invest in many companies at amounts as low as, say, $5.
How can I trade stocks for free?
It's actually almost hard to pay to trade stocks these days, as many brokers have eliminated commissions: All the options above provide free stock trades.
Is it better to invest with a bank or a broker?
If you have long-term goals you’re saving for, such as your own retirement or your kids’ college tuition, it makes sense to invest in the stock market because stocks offer the investment earnings that can power your savings.
Investing in the stock market usually means investing with a broker, because most banks don’t offer access to stock market investments; if they do, those investments tend to be offered through an investment advisory that likely charges higher fees than a discount broker.