Best Free Stock and Commission-Free Trading Platforms

The move to free stock and exchange-traded fund (ETF) trading has become the industry standard for most major online brokers. 

While “free” refers to the absence of certain trading commissions, it’s important to understand that the platforms get other revenue streams from customers, such as earning interest on uninvested cash balances, margin interest, premium services and subscriptions, and miscellaneous fees.

That said, the trend has lowered the entry barrier for many retail investors who are looking to avoid fees, and these five online brokers are among your best choices for free trades.

How We Chose the Best Free Stock And Commission-Free Trading Platforms

We evaluated the best stock and commission-fee brokers based on their ease of use, educational tools, quality and breadth of educational resources, and customer service responsiveness.

Best Free Stock And Commission-Free Trading Platforms

Fidelity — Best for Comprehensive Commission-Free Investing and Research

Fidelity’s commission-free trading platform caters to a variety of investors, from beginners to active traders. With zero commissions on online U.S. stock, ETF and option trades, Fidelity also provides a range of research and trading tools. Its commitment to low costs extends to default cash management, where uninvested funds automatically earn a competitive annual percentage yield (APY)  in a money market fund.

Key Features: 

• Fees: Fidelity offers zero commission for online U.S. stock, ETF and options trades, with a $0.65 per contract on options. No account minimum is required to open a brokerage account. Fidelity does not accept payment for order flow on equities.

• Investment Access: Fidelity provides access to a variety of investment products, including domestic and international stocks, mutual funds and a wide selection of ETFs, options, bonds and CDs. 

• Platform Experience: Fidelity’s user-friendly desktop and mobile apps offer strong functionality for managing accounts, placing trades and accessing research. For more active traders, Active Trader Pro is a downloadable platform with advanced charting, customizable layouts and real-time data. The Fidelity Mobile App provides extensive functionality for on-the-go trading and account management.

• Tools/Education Highlights: Fidelity’s tools and education include screeners for stocks, ETFs and mutual funds, sophisticated charting capabilities, and in-depth research from a variety of third-party providers. The Fidelity Learn center provides articles, videos, and webinars covering investment topics that range from beginner essentials to advanced trading strategies.

• Drawbacks: While options trades are commission-free, a $0.65 per contract fee still applies. The default cash sweep offers a competitive yield, but it’s a money market fund, so it’s not directly insured by the Federal Deposit Insurance Corp. (FDIC) like a bank deposit.  

Who It’s Best For: All types of investors who want a full-service brokerage offering commission-free trading, extensive research, a variety of investment choices and competitive interest in uninvested cash.  

Robinhood — Best for Beginners

Robinhood pioneered the commission-free trading movement, making investing accessible to millions. Its user-friendly, mobile-first platform makes it easy for novices to start trading with zero commissions on stocks, ETFs, options, cryptocurrency and fractional shares. The basic service provides a minimal yield on uninvested cash, but upgrading to Robinhood Gold membership unlocks a competitive APY on cash balances as well as features like higher IRA matches and professional research.

Key Features: 

• Fees: Robinhood offers zero commission for online U.S. stock, ETF and options trades. There are no account minimums to open a brokerage account. The 4% APY on uninvested cash is only available to Robinhood Gold members, which costs $5 per month or $50 annually.

• Investment Access: Robinhood provides commission-free access to U.S. exchange-listed stocks, ETFs and options. It also offers direct cryptocurrency trading and fractional shares, allowing investors to participate in high-priced stocks with smaller amounts of money. It does not support mutual funds or bonds, which may limit diversification for some investors.

• Platform Experience: Robinhood’s user-friendly, mobile-first platform makes it easy for novices to get started. Its desktop platform, Robinhood Legend, offers charting, customizable layouts and real-time data. The mobile app provides functionality for placing trades, managing watchlists and accessing basic information. 

• Tools/Education Highlights: Robinhood Gold membership is key to accessing the platform’s advanced features. Gold subscribers receive a higher APY on uninvested cash, a 3% match on IRA contributions, larger instant deposit limits and professional research from Morningstar. Gold members also have access to Nasdaq Level 2 market data for deeper insights into order book activity. 

• Drawbacks: The competitive APY on uninvested cash is only available to Robinhood Gold members. Customer service has improved, but it has historically gotten mixed reviews. Because of the platform’s streamlined nature, it lacks some advanced research, screening and complex order types available on more traditional brokerage platforms. 

Who It’s Best For: Cost-conscious, mobile-first investors and those interested in cryptocurrency or fractional shares and are willing to pay for a Robinhood Gold membership to access high-yield cash, advanced data and premium features.

Webull — Best for Advanced Tools

Webull offers commission-free trading of stocks, ETFs and options. It provides advanced analytical tools, in-depth market data and charting capabilities typically found in platforms for professional traders. Premium subscribers receive competitive interest rates on uninvested cash. 

Key Features: 

• Fees: Webull offers zero commission for online U.S. and ETF trades as well as for equity and ETF options contracts. It charges a fee of $0.55 per contract for index options and $0.10 per contract for oversized option orders above 500 contracts. There is no account minimum to open a brokerage account. Webull subscribers earn an APY of around 4.1% on uninvested cash.

• Investment Access: Webull provides access to U.S. exchange-listed stocks, ETFs and options. It also offers cryptocurrency trading through a separate Webull Pay app. Investors can trade fractional shares and over-the-counter securities. The platform also supports futures and U.S. Treasury bonds, but it does not offer mutual funds.

• Platform Experience: Webull’s customizable trading platform is available on desktop, web and via a powerful mobile app. The desktop version offers multi-monitor support and advanced features. The mobile app allows active traders to conduct in-depth analysis, manage portfolios and execute trades from their smartphones. 

• Tools/Education Highlights: Webull provides tools for technical analysis, including more than 60 technical indicators and 17-plus drawing tools for advanced charting. Real-time market data is available, and features like customized screeners, a paper trading simulator and access to a community forum enhance the trading experience. 

• Drawbacks: Webull’s highest APY is reserved for Premium subscribers. The platform can be overwhelming for beginners because of its complexity and numerous features. Webull does not offer mutual funds, and customer service is available primarily through an in-app chat. 

Who It’s Best For: Active traders, options traders and tech-savvy investors who want advanced charting tools, real-time market data and a feature-rich platform for commission-free trading across a range of assets.

Interactive Brokers — Best for Global Access

Interactive Brokers (IBKR) offers commission-free trading through its IBKR Lite plan, which provides retail investors zero commissions on U.S. exchange-listed stocks and ETFs, low margin rates and access to more than 150 markets around the world. The blend of commission-free access, competitive interest rates on cash balances and market breadth makes IBKR Lite a good choice for investors who want a powerful platform without high trading costs. 

Key Features: 

• Fees: IBKR offers zero commission trading for online U.S. exchange-listed stocks and ETFs. There are no account minimums or inactivity fees. It charges between $0.15 and $0.65 per contract for options.

• Investment Access: IBKR provides access to global markets, allowing clients to trade stocks, ETFs, options, futures, forex, bonds and mutual funds in more than 150 markets in 33 countries from a single account. Fractional shares are also available. 

• Platform Experience: IBKR Lite clients have access to Client Portal, a user-friendly web interface for account management and basic trading, IBKR Mobile and the Trader Workstation for customizable, professional-grade tools, advanced charting and sophisticated order types.

• Tools/Education Highlights: IBKR provides research tools, screeners and market data. The IBKR Campus offers financial education, including the Traders’ Academy course, webinars, podcasts and articles covering various asset classes and trading strategies. It also offers a Stock Yield Enhancement Program, allowing clients to earn extra income by lending out fully paid shares.

• Drawbacks: IBKR’s platforms can be overwhelming for beginners. The pricing structure for non-U.S. assets can be complex. Customer support is generally less personalized than at some full-service brokerages. 

Who It’s Best For: Cost-conscious investors, global traders and those who want advanced tools and a range of investment products without paying commissions on U.S. stocks and ETFs.

E*Trade — Best for Diverse Investment Choices

E*Trade balances user-friendliness with powerful trading tools. It provides a wide variety of investment products, robust research and educational resources, making it a versatile choice for investors wanting to grow their wealth through diverse strategies. 

Key Features: 

• Fees: E*Trade offers zero commission trading for online U.S. stocks, ETFs and mutual funds. For options, the standard fee is $0.65 per contract, which drops to $0.50 per contract for clients who execute at least 30 stock, ETF and options trades per quarter. Futures cost $1.50 per contract. There are no account minimums to open most brokerage accounts. 

• Investment Access: E*Trade provides access to domestic and international stocks, more than 6,000 no-transaction-fee mutual funds and a wide selection of ETFs, options, futures, bonds and CDs. It also offers fractional share investing through dividend reinvestment plans but not for direct purchases. Direct cryptocurrency trading is not available.

• Platform Experience: The E*Trade website is intuitive and well-suited for beginners and long-term investors. Its navigation for portfolio analysis and basic trading is easy. For advanced traders, the Power E*Trade platform, available on desktop and mobile, offers advanced charting, customizable layouts, sophisticated order types and risk/reward analysis tools. 

• Tools/Education Highlights: E*Trade offers powerful screeners for stocks, ETFs, mutual funds and options as well as advanced charting capabilities and in-depth research from Morgan Stanley experts and third-party providers. The Knowledge Center provides articles, videos and webinars covering everything from investing basics to complex trading strategies, including a paper trading simulator on Power E*Trad to practice strategies risk-free.

• Drawbacks: E*Trade does not support direct cryptocurrency trading. Interest rates on uninvested cash are generally lower than its competitors. Fractional shares are mainly available through dividend reinvestment, not for direct purchases. 

Who It’s Best For: All levels of investors who want advanced tools for options, futures and stock analysis with commission-free trading. 

Choosing the Best Free Stock And Commission-Free Trading Platforms

While the shift to zero-commission trading has removed a major cost barrier, choosing the best free trading platform requires careful consideration beyond just pricing. Investors should evaluate the platform’s available asset classes, user interface, educational resources, and how idle cash is managed.

Fidelity stands out for its robust research tools, cash yield options, and rejection of payment for order flow—making it a strong all-around option. Robinhood appeals to mobile-first users seeking simplicity and crypto access, especially if they opt for the Gold membership with high-yield cash and Morningstar research.

Webull provides deeper technical tools and is geared toward active traders seeking a more sophisticated experience. Interactive Brokers (IBKR Lite) opens global market access and offers some of the lowest margin rates in the industry, ideal for more advanced investors. E*Trade delivers versatility and education across investment products and levels of experience.

The best platform is the one that fits your goals—whether you’re trading casually or managing a diverse, long-term portfolio. Don’t let “free” be the only factor guiding your decision.

Frequently Asked Questions