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Best brokers for free stock trading in the US in 2024

Written by
Adam N.
Fact checked by
Updated
May 2024

Find below the strengths of the best commission-free brokers for stock trading available in in the US, updated for 2024:

  1. Fidelity - the best broker for free stock trading in the US in 2024. Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  2. E*TRADE - Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools. Pays interest on uninvested cash.
  3. Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
  4. Merrill Edge - Low trading fees. Easy and seamless account opening. Strong parent company.
  5. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  6. Ally Invest - Low trading and non-trading fees. Easy and fully digital account opening. Great education.
  7. SoFi Invest - Free stock and ETF trading. Fast and fully digital account opening. Fast customer support.
  8. J.P. Morgan Self-Directed Investing - Commission-free US stocks, ETFs, funds and bonds. Fast and fully digital account opening. Well-established parent company. Pays interest on uninvested cash.
  9. Vanguard - Stocks and ETFs are free to trade. Easy account opening. Great mobile trading platform. Interest paid on uninvested cash.
  10. Firstrade - Free stock, ETF, fund and options trading. Solid research tools. Quality educational tools.
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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
E*TRADE
Low
$0
Charles Schwab
Low
$0
Merrill Edge
Low
$0
eToro
Low
$10
Ally Invest
Low
$0
SoFi Invest
Low
$0
J.P. Morgan Self-Directed Investing
Low
$0
Vanguard
Low
$0
Firstrade
Low
$0
Best brokers for free stock trading key data compiled for May 2024

Popularity of the best brokers for free stock trading in the US

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.

Fees and platform features

Let's take a look at the key details of the best brokers for commission-free stock trading in the US in 2024.

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
$0
E*TRADE
$0
Charles Schwab
$0
Merrill Edge
$0
eToro
$5
Ally Invest
$0
SoFi Invest
$0
J.P. Morgan Self-Directed Investing
$0
Vanguard
$0
Firstrade
$0
Other fees at the top brokers for free stock trading

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
2,500
E*TRADE
5
2,800
Charles Schwab
4
2,300
Merrill Edge
4
2,300
eToro
17
420
Ally Invest
5
2,300
SoFi Invest
5
2,300
J.P. Morgan Self-Directed Investing
3
2,000
Vanguard
4
2,300
Firstrade
5
2,300
Product selection at the top brokers for free stock trading

Account opening and funding

Broker
Account opening score
Deposit and withdrawal user-friendliness
Fidelity
4.4
/5
Great
E*TRADE
4.4
/5
Great
Charles Schwab
5.0
/5
Great
Merrill Edge
5.0
/5
Great
eToro
5.0
/5
Great
Ally Invest
4.4
/5
Great
SoFi Invest
4.4
/5
Great
J.P. Morgan Self-Directed Investing
5.0
/5
Great
Vanguard
4.4
/5
Great
Firstrade
4.4
/5
Great
Account opening and funding at the top brokers for free stock trading

Recommended for investors and traders looking for solid research and great trading platforms

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Fidelity snapshot
US stockbroker
Overall score 4.7 stars
Time to open account 1-3 days
Overall fees score 3.6 stars
Markets/products score 3.6 stars
Read review For a detailed analysis of Fidelity, check out our review for 2024.

Recommended for investors and traders looking for solid research and a great mobile trading platform

Visit broker

E*TRADE snapshot
US stockbroker
Overall score 4.5 stars
Time to open account 1-3 days
Overall fees score 3.8 stars
Markets/products score 2.9 stars
Read review For a detailed analysis of E*TRADE, check out our review for 2024.

Recommended for investors and traders looking for solid research, low fees and great customer service

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Charles Schwab snapshot
US discount broker
Overall score 4.7 stars
Time to open account 1 day
Overall fees score 4.0 stars
Markets/products score 3.7 stars
Read review For a detailed analysis of Charles Schwab, check out our review for 2024.

Recommended for investors and traders looking for low fees, quick account opening and simple platforms

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Merrill Edge snapshot
US discount broker
Overall score 4.6 stars
Time to open account 1 day
Overall fees score 4.2 stars
Markets/products score 2.4 stars
Read review For a detailed analysis of Merrill Edge, check out our review for 2024.

Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero-commission stock trading

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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal

eToro snapshot
Global social trading broker
Overall score 4.8 stars
Time to open account 1 day
Overall fees score 4.0 stars
Markets/products score 3.9 stars
Read review For a detailed analysis of eToro, check out our review for 2024.

Recommended for investors and traders looking for low fees and focusing on the US market

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Ally Invest snapshot
US stockbroker
Overall score 4.5 stars
Time to open account 1-3 days
Overall fees score 4.3 stars
Markets/products score 2.4 stars
Read review For a detailed analysis of Ally Invest, check out our review for 2024.

Recommended for beginners and investors looking for zero-commission trading, focusing on the US market

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SoFi Invest snapshot
US discount broker
Overall score 4.4 stars
Time to open account 1-3 days
Overall fees score 4.4 stars
Markets/products score 2.5 stars
Read review For a detailed analysis of SoFi Invest, check out our review for 2024.

Recommended for beginners and buy-and-hold investors focusing on the US stock market

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J.P. Morgan Self-Directed Investing snapshot
US-based discount broker
Overall score 4.5 stars
Time to open account 1 day
Overall fees score 4.5 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 2024.

Recommended for long-term investors looking for great ETF and mutual fund selection

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Vanguard snapshot
US stockbroker
Overall score 4.3 stars
Time to open account 1-3 days
Overall fees score 4.1 stars
Markets/products score 2.6 stars
Read review For a detailed analysis of Vanguard, check out our review for 2024.

Recommended for beginners and investors looking for zero-commission trading, focusing on the US market

Visit broker

Firstrade snapshot
US discount broker
Overall score 4.4 stars
Time to open account 1-3 days
Overall fees score 4.2 stars
Markets/products score 3.0 stars
Read review For a detailed analysis of Firstrade, check out our review for 2024.

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How did we pick the best brokers for free stock trading in the US in 2024?

  • 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

Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology. This includes collecting more than 600 data points for each broker.

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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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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