Intro and winners
Find below the top commission-free brokers for stock trading available in the United States, updated for 2023:
- Fidelity - the best broker for free stock trading in 2023. Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
- TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools.
- Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
- Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
- J.P. Morgan Self-Directed Investing - Commission-free US stocks, ETFs, funds and bonds. Fast and fully digital account opening. Well-established parent company.
- Ally Invest - Low trading and non-trading fees. Easy and fully digital account opening. Great education.
- SoFi Invest - Free stocks and ETFs. Fast and fully digital account opening. Great customer support.
- Vanguard - Stocks and ETFs are free to trade. Easy account opening. Great mobile trading platform.
- Webull - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
Best brokers for free stock trading in 2023
Trust level of the best brokers for free stock trading
Choosing a legit broker is the single most important step in anyone’s trading career. In the table below you can assess the trustworthiness of these brokers by checking the following information: regulation, foundation date, investor protection, and brokers' involvement in scandals.
| Broker | Top-tier regulators | Trusted broker |
|---|---|---|
| Fidelity | SEC and FINRA in the US | |
| TD Ameritrade | SEC and FINRA in the US | |
| E*TRADE | SEC and FINRA in the US | |
| Merrill Edge | SEC and FINRA in the US | |
| Charles Schwab | SEC and FINRA in the US | |
| J.P. Morgan Self-Directed Investing | SEC and FINRA in the US | |
| Ally Invest | SEC and FINRA in the US | |
| SoFi Invest | SEC and FINRA in the US | |
| Vanguard | SEC and FINRA in the US | |
| Webull | SEC and FINRA in the US |
Best brokers for free stock trading in 2023
Overview
Despite all of them offering free stock trading, there can still be significant differences among zero-commission brokers. A good selection of stocks to trade, easy-to-use mobile apps or desktop trading platforms, the absence of add-on fees and a rock solid regulatory background can make all the difference.
| Broker | Stock fee class | Minimum deposit |
|---|---|---|
| Fidelity | Low | $0 No minimum account balance |
| TD Ameritrade | Low | $0 $0 for US non-margin accounts, $2,000 for US margin accounts, and clients in Malaysia and Singapore are recommended to start with $3,500. |
| E*TRADE | Low | $0 No minimum deposit for non-margin brokerage account, while $2,000 for margin accounts and $500 for Core Portfolios |
| Merrill Edge | Low | $0 No minimum deposit |
| Charles Schwab | Low | $0 $0 for US clients and $25,000 for non-US clients |
| J.P. Morgan Self-Directed Investing | Low | $0 No minimum account balance |
| Ally Invest | Low | $0 No minimum account balance |
| SoFi Invest | Low | $0 No minimum deposit |
| Vanguard | Low | $0 No minimum deposit; however, for funds and ETFs there is an investment minimum (starting with $1,000). |
| Webull | Low | $0 No minimum deposit for cash accounts, but there is a $2,000 minimum for margin accounts |
Popularity of the best brokers for free stock trading
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Before we go on, an important notice: Some brokers' portfolios contain CFDs. These are complex and very risky instruments, therefore not suitable for everyone. You can easily lose all your invested money when you trade CFDs. If you need a more detailed explanation of what a CFD is, start with these CFD trading tips.
Best brokers for free stock trading in 2023
Fees and platform features
Let's take a look at the key details of the best brokers for commission-free stock trading in 2023.
Other fees at the best free stock trading platforms
The promise of free stock trades can sour quickly if you need to deposit a fortune just to get started or pay a hefty fee simply to retrieve your funds. Here's what, if anything, the best free stock trading apps will charge you for services other than stock trading.
| Broker | Inactivity fee | Withdrawal fee |
|---|---|---|
| Fidelity | No inactivity fee | $0 Free withdrawal, but wire transfers in currency other than USD cost up to 3% |
| TD Ameritrade | No inactivity fee | $0 Free ACH withdrawal, but wire transfers cost $25. |
| E*TRADE | No inactivity fee | $0 Free ACH withdrawal, but wire transfers cost $25. |
| Merrill Edge | No inactivity fee | $0 Free withdrawal |
| Charles Schwab | No inactivity fee | $0 Free withdrawal, but wire transfers cost $25. |
| J.P. Morgan Self-Directed Investing | No inactivity fee | $0 Free withdrawal if you have an account at J.P. Morgan. Wire transfers cost $25. |
| Ally Invest | No inactivity fee | $0 Free withdrawal, but wire transfers cost $30. |
| SoFi Invest | No inactivity fee | $0 Free ACH withdrawal, but wire transfers cost $25 |
| Vanguard | No inactivity fee | $0 Free ACH withdrawal, but wire transfers cost $10 |
| Webull | No inactivity fee | $0 Free withdrawal, but domestic wire transfers cost $25 and international wire transfers cost $45 |
Market coverage
The best free stock trading platforms offer you thousands of instruments to choose from, covering major US and global markets.
| Broker | Stock markets (#) | ETFs (#) |
|---|---|---|
| Fidelity | 25 | 2,300 |
| TD Ameritrade | 4 | 2,300 |
| E*TRADE | 5 | 2,800 |
| Merrill Edge | 4 | 2,300 |
| Charles Schwab | 4 | 2,300 |
| J.P. Morgan Self-Directed Investing | 3 | 2,000 |
| Ally Invest | 5 | 2,300 |
| SoFi Invest | 3 | 2,300 |
| Vanguard | 4 | 2,300 |
| Webull | 5 | 2,300 |
Account opening and funding
| Broker | Account opening score | Deposit and withdrawal user-friendliness |
|---|---|---|
| Fidelity | 4.2 | Great |
| TD Ameritrade | 4.0 | Great |
| E*TRADE | 4.2 | Great |
| Merrill Edge | 5.0 | Great |
| Charles Schwab | 4.6 | Great |
| J.P. Morgan Self-Directed Investing | 5.0 | Great |
| Ally Invest | 4.2 | Great |
| SoFi Invest | 4.2 | Great |
| Vanguard | 4.2 | Great |
| Webull | 5.0 | Great |
And now, let's see in detail which are the best brokers for free stock trading in 2023, one by one.
#1 Best brokers for free stock trading in 2023
Fidelity
Recommended for investors and traders looking for solid research and great trading platforms
| Fidelity snapshot | |
|---|---|
| US stockbroker | |
| Overall score | 4.8 stars |
| Time to open account | 1-3 days |
| Overall fees score | 3.7 stars |
| Markets/products score | 4.0 stars |
| Read review | For a detailed analysis of Fidelity, check out our review for 2023 |
#2 Best brokers for free stock trading in 2023
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| TD Ameritrade snapshot | |
|---|---|
| US-based stockbroker | |
| Overall score | 4.9 stars |
| Time to open account | 1-3 days |
| Overall fees score | 4.1 stars |
| Markets/products score | 3.9 stars |
| Read review | For a detailed analysis of TD Ameritrade, check out our review for 2023 |
#3 Best brokers for free stock trading in 2023
E*TRADE
Recommended for investors and traders looking for solid research and a great mobile trading platform
| E*TRADE snapshot | |
|---|---|
| US stockbroker | |
| Overall score | 4.7 stars |
| Time to open account | 1-3 days |
| Overall fees score | 4.1 stars |
| Markets/products score | 2.9 stars |
| Read review | For a detailed analysis of E*TRADE, check out our review for 2023 |
#4 Best brokers for free stock trading in 2023
Merrill Edge
Recommended for investors and traders looking for low fees, quick account opening and simple platforms
| Merrill Edge snapshot | |
|---|---|
| US discount broker | |
| Overall score | 4.8 stars |
| Time to open account | 1 day |
| Overall fees score | 4.4 stars |
| Markets/products score | 2.5 stars |
| Read review | For a detailed analysis of Merrill Edge, check out our review for 2023 |
#5 Best brokers for free stock trading in 2023
Charles Schwab
Recommended for investors and traders looking for solid research, low fees and great customer service
| Charles Schwab snapshot | |
|---|---|
| US discount broker | |
| Overall score | 4.8 stars |
| Time to open account | 1 day |
| Overall fees score | 4.2 stars |
| Markets/products score | 3.1 stars |
| Read review | For a detailed analysis of Charles Schwab, check out our review for 2023 |
#6 Best brokers for free stock trading in 2023
J.P. Morgan Self-Directed Investing
Recommended for beginners and buy-and-hold investors focusing on the us stock market
| J.P. Morgan Self-Directed Investing snapshot | |
|---|---|
| US-based discount broker | |
| Overall score | 4.8 stars |
| Time to open account | 1 day |
| Overall fees score | 4.9 stars |
| Markets/products score | 2.1 stars |
| Read review | For a detailed analysis of J.P. Morgan Self-Directed Investing, check out our review for 2023 |
#7 Best brokers for free stock trading in 2023
Ally Invest
Recommended for investors and traders looking for low fees and focusing on the us market
| Ally Invest snapshot | |
|---|---|
| US stockbroker | |
| Overall score | 4.7 stars |
| Time to open account | 1-3 days |
| Overall fees score | 4.5 stars |
| Markets/products score | 2.6 stars |
| Read review | For a detailed analysis of Ally Invest, check out our review for 2023 |
#8 Best brokers for free stock trading in 2023
SoFi Invest
Recommended for beginners and investors looking for zero-commission trading, focusing on the us market
| SoFi Invest snapshot | |
|---|---|
| US discount broker | |
| Overall score | 4.7 stars |
| Time to open account | 1-3 days |
| Overall fees score | 4.9 stars |
| Markets/products score | 2.2 stars |
| Read review | For a detailed analysis of SoFi Invest, check out our review for 2023 |
#9 Best brokers for free stock trading in 2023
Vanguard
Recommended for long-term investors looking for great etf and mutual fund selection
| Vanguard snapshot | |
|---|---|
| US stockbroker | |
| Overall score | 4.5 stars |
| Time to open account | 1-3 days |
| Overall fees score | 4.3 stars |
| Markets/products score | 2.7 stars |
| Read review | For a detailed analysis of Vanguard, check out our review for 2023 |
#10 Best brokers for free stock trading in 2023
Webull
Recommended for investors and traders looking for zero-commission trading and easy platforms
| Webull snapshot | |
|---|---|
| US discount broker | |
| Overall score | 4.8 stars |
| Time to open account | 1 day |
| Overall fees score | 4.8 stars |
| Markets/products score | 2.9 stars |
| Read review | For a detailed analysis of Webull, check out our review for 2023 |
Best brokers for free stock trading in 2023
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Best brokers for free stock trading in 2023
How did we pick the best brokers for free stock trading in 2023?
- We checked whether the broker is overseen by a trusted regulator
- We checked stock fees at over 100 brokers
- We looked beyond “no commission” pledges to check non-trading fees and other costs
- We used real money to test all trading platforms for user-friendliness and functionality
- We assessed market coverage and the overall quality of each broker's services
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology. This includes collecting more than 500 data points for each broker.
Best brokers for free stock trading in 2023
FAQ
What is commission-free stock trading?
Commission-free stock trading means that the broker does not charge you a fee for buying or selling a stock. Normally, brokers would charge either a flat fee or a per-share commission (or a combination of both) for stock trades. Commission-free stock trading was pioneered by US-based mobile-only broker Robinhood in the 2010s, and became near-universal among US brokers in 2019-20.
Is there a catch to free stock trading?
Brokers offering commission-free stock trading often make money from non-trading fees, from commissions on products other than stocks, or from routing clients' stock trade orders to specific market makers, a controversial practice called payment for order flow. In the latter case, customers often do not get the best execution price available on the market, and as such may incur an implicit (though small) cost on each stock trade.
Are free stock trading apps safe?
Your best bet to find a safe broker is to look for one that is regulated by a top-tier financial authority such as the US Securities and Exchanges Commission. In other aspects of safety, many stock trading apps require two-step authentication, where you are sent a one-time password or a similar prompt after entering your ID and regular password. A growing number of mobile trading apps also use biometric authentication (such as fingerprint readers) to make the login process more convenient without compromising security.
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