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Intro and winners
How did we pick the best brokers for free stock trading in the US 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. Now let's jump straight to the results.
Top commission-free stock trading platforms in the US in 2023
- Fidelity - the best online broker for free stock trading in the US 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.
Best brokers for free stock trading in the US 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.
| Fidelity | TD Ameritrade | E*TRADE | Merrill Edge | Charles Schwab | |
|---|---|---|---|---|---|
| Number of stock markets | 25 | 4 | 5 | 4 | 4 |
| Overall fee score | 3.6 stars | 4.1 stars | 4.3 stars | 4.4 stars | 4.3 stars |
| Trading platform combined score | 4.7 stars | 4.6 stars | 4.5 stars | 4.5 stars | 4.1 stars |
| Regulation | Great | Great | Great | Great | Great |
Best brokers for free stock trading in the US in 2023
Fees and platform features
Let's take a look at the key details of the best brokers for commission-free trading in the US in 2023.
Other fees and costs 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.
| Fidelity | TD Ameritrade | E*TRADE | Merrill Edge | Charles Schwab | |
|---|---|---|---|---|---|
| Inactivity fee | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
| Account fee | No | No | No | No | No |
| Minimum deposit | $0 | $0 | $0 | $0 | $0 |
Trading platform features and scores at the best commission-free brokers
A user-friendly trading interface, including easy search functions and offering secure login, can greatly enhance your trading comfort.
| Fidelity | TD Ameritrade | E*TRADE | Merrill Edge | Charles Schwab | |
|---|---|---|---|---|---|
| Desktop platform score | 4.3 stars | 4.5 stars | - | 4.3 stars | 4.0 stars |
| Web platform score | 4.5 stars | 4.3 stars | 4.5 stars | 4.3 stars | 4.3 stars |
| Mobile platform score | 5.0 stars | 4.8 stars | 4.5 stars | 4.8 stars | 4.2 stars |
| Mobile two-step authentication | Yes | Yes | No | Yes | Yes |
| Mobile search function | Great | Mid-range | Great | Mid-range | Mid-range |
Market coverage
The best free stock trading platforms offer you thousands of instruments to choose from, covering major US and global markets.
| Fidelity | TD Ameritrade | E*TRADE | Merrill Edge | Charles Schwab | |
|---|---|---|---|---|---|
| Number of stock markets | 25 | 4 | 5 | 4 | 4 |
| Number of ETFs | 2,300 | 2,300 | 2,300 | 2,300 | 2,300 |
| Fractional shares available | Yes | No | No | No | Yes |
Account opening and funding
| Fidelity | TD Ameritrade | E*TRADE | Merrill Edge | Charles Schwab | |
|---|---|---|---|---|---|
| Account opening score | 4.2 stars | 4.0 stars | 4.2 stars | 5.0 stars | 4.6 stars |
| Deposit/withdrawal user-friendliness | Great | Great | Great | Great | Great |
| Deposit by bank transfer | Yes | Yes | Yes | Yes | Yes |
| Deposit by credit/debit card | No | No | No | No | No |
| Deposit by electronic wallets | Yes | No | No | No | No |
Not sure which broker is best for you? For a tailored recommendation, check out our broker finder tool. You can enter your country and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with the help of our in-depth comparison tool.
Best brokers for free stock trading in the US in 2023
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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 the US
Fidelity
Recommended for investors and traders looking for solid research and great trading platforms
| Fidelity snapshot | |
|---|---|
| US stockbroker | |
| Countries served | US |
| Overall score | 4.8 stars |
| Time to open account | 1-3 days |
| Overall fees score | 3.6 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 the US
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| TD Ameritrade snapshot | |
|---|---|
| US-based stockbroker | |
| Countries served | US, China, Hong Kong, Malaysia, Singapore, Thailand, Taiwan, Canada (through TD Direct Investing) |
| 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 the US
E*TRADE
Recommended for investors and traders looking for solid research and a great mobile trading platform
| E*TRADE snapshot | |
|---|---|
| US stockbroker | |
| Countries served | US |
| Overall score | 4.8 stars |
| Time to open account | 1-3 days |
| Overall fees score | 4.3 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 the US
Merrill Edge
Recommended for investors and traders looking for low fees, quick account opening and simple platforms
| Merrill Edge snapshot | |
|---|---|
| US discount broker | |
| Countries served | US |
| 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 the US
Charles Schwab
Recommended for investors and traders looking for solid research, low fees and great customer service
| Charles Schwab snapshot | |
|---|---|
| US discount broker | |
| Countries served | US |
| Overall score | 4.8 stars |
| Time to open account | 1 day |
| Overall fees score | 4.3 stars |
| Markets/products score | 3.1 stars |
| Read review | For a detailed analysis of Charles Schwab, check out our review for 2023 |
Best brokers for free stock trading in the US 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.
