Best Commission-Free Stock Trading Platforms 2024
If you’re just starting to invest, many top brokerages offer free stock-trading platforms that can get you started. They offer zero-commission trading and no account minimums, making investing affordable.
CNBC Select has chosen the best brokers with offer zero-commission trading platforms in a variety of categories. (See our methodology for more information on how we made this list.)
Best for streamlined trading: Robinhood
Robinhood
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account or to start investing
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Fees
Fees may vary depending on the investment vehicle selected. Commission-free trading; regulatory transaction fees and trading activity fees may apply
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Bonus
Robinhood will add 1 share of free stock to your brokerage account when you link your bank account and fulfill the conditions in your promotion (you’ll be able to keep the stock or sell it after 2 trading days)
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Investment vehicles
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Investment options
Stocks, ETFs, options trading, fractional shares, IPOs, plus certain cryptocurrencies through Robinhood Crypto (depending on where you live)
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Educational resources
Pros
- $0 minimum deposit to open an account and invest
- Commission-free trading
- Free stock welcome bonus
- Plenty of investment options for active traders
- Variety of accessible learning tools
Cons
- Fees outside of commissions may apply
- Users rely on their own knowledge when building their portfolio
Who’s this for? One of the first zero-commission brokerages, Robinhood has an easy-to-use app that lets yo uget right to trading.
Standout benefits: Robinhood’s IRA has a contribution match of up to 3%.
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Best for joint banking and investing: Ally Invest
Ally Invest®
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No account minimum for Self-Directed Trading. $100 minimum for Robo Portfolios
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Fees
Fees may vary depending on the investment vehicle selected. Self-Directed Trading has zero commission fees for stock, ETF, options trades; $0.50 per options contract. Robo Portfolios have zero management fees
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Bonus
You may be eligible for up to $3,000 bonus cash when you open an Ally Invest Self-Directed account
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Investment vehicles
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Investment options
Stocks, bonds, ETFs, options, mutual funds, margin account and forex trading
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Educational resources
Offers informational articles to help users improve their understanding of investment strategies and market trends
Pros
- $0 minimum deposit for Self-Directed Trading
- No commission fees for stock, ETF and options trades
- Includes charts and calculators to help investors analyze their trades
- Robo Portfolios available as automated service option with four different portfolio types to choose from
- Offers informational articles about investment strategies and market trends
- 24/7 live customer service with brokers
Cons
- Robo Portfolios require a $100 minimum deposit
- Mutual funds may require transaction fee
Best for fractional shares: Charles Schwab
Charles Schwab
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No account minimum for active investing through Schwab One® Brokerage Account. Automated investing through Schwab Intelligent Portfolios® requires a $5,000 minimum deposit
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Fees
Fees may vary depending on the investment vehicle selected. Schwab One® Brokerage Account has no account fees, $0 commission fees for stock and ETF trades, $0 transaction fees for over 4,000 mutual funds and a $0.65 fee per options contract
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Bonus
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Investment vehicles
Robo-advisor: Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ IRA: Charles Schwab Traditional, Roth, Rollover, Inherited and Custodial IRAs; plus, a Personal Choice Retirement Account® (PCRA) Brokerage and trading: Schwab One® Brokerage Account, Brokerage Account + Specialized Platforms and Support for Trading, Schwab Global Account™, Schwab Organization Account and Schwab Trading Powered by Ameritrade™
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Investment options
Stocks, bonds, mutual funds, CDs and ETFs
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Educational resources
Extensive retirement planning tools
Pros
- $0 minimum deposit for active investing
- No commission fees for stock and ETF trades and no transaction fees for over 4,000 mutual funds
- Offers extensive retirement planning tools
- Users can get on-demand advice from a professional advisor/Schwab expert
- Robo-advisor Schwab Intelligent Portfolios® available as a no-fee automated service option (with Premium version available for a fee)
- Award-winning thinkorswim® trading platforms and all their cutting-edge tools are now available at Schwab.
- 24/7 customer support access by phone or chat
- Charles Schwab offers over 300 brick-and-mortar branches across the U.S. for in-person support
Cons
- Specific transactions may require commission fee
- Robo-advisor Schwab Intelligent Portfolios Premium charges a one-time planning fee of $300, then a $30 per month advisory fee. For that price, you get unlimited 1:1 guidance from a CFP, interactive planning tools, plus a personalized roadmap for reaching your goals
Who’s this for? With Schwab Stock Slices, Charles Schwab allows investors to buy fractional shares (“slices”) from up to 30 S&P 500 companies all at once, for as little as $5 each.
Standout benefits: Clients receive market commentary and earnings reports from top financial media, including Reuters and Morningstar.
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Best for educational resources: E-Trade
E*TRADE
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open an E*TRADE brokerage account; minimum $500 deposit to invest in robo-advisor platform Core Portfolios
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Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock, ETF and options trades; zero transaction fees for over 4,400 mutual funds; robo-advisor Core Portfolios charges 0.30% annual advisory fee
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Investment vehicles
Robo-advisor: E*TRADE Core Portfolios IRA: E*TRADE Traditional, Roth, Rollover, Beneficiary, SEP and SIMPLE IRAs, IRA for Minors and E*TRADE Complete™ IRA Brokerage and trading: E*TRADE Trading Other: E*TRADE Coverdell ESA (Education Savings Account), Custodial Account for minors and small business retirement plans
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Investment options
Stocks, bonds, mutual funds, CDs, ETFs, options and futures
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Educational resources
Educational library includes in-depth articles and videos for any type of investor
Pros
- No commission fees for stock, ETF and options trades
- No transaction fees for over 4,400 mutual funds
- Automated investing through Core Portfolios platform (minimum required)
- E*TRADE Coverdell ESA helps you save for college early on
- Active traders receive volume discounts on options
- Free analyst research and investing tools
- Strong mobile platform
Cons
- Robo-advisor Core Portfolios requires minimum $500 to enroll and charges 0.30% annual advisory fee
- Website may be cumbersome to wade through
- No forex trading
Who’s this for? E-Trade has a comprehensive library of online resources, including retirement and tax-planning guides, market analysis from Morgan Stanley analysts and on-demand educational events and webinars.
Standout benefits: E-Trade’s mobile app allows you to customize your portfolio, including creating watchlists for assets you’re interested in.
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Best for mutual funds: J.P. Morgan Self-Directed Investing
Best for customer service: Fidelity Investments
Fidelity Investments
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Fidelity Go® account, but minimum $10 balance for robo-advisor to start investing
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Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock, ETF, options trades and some mutual funds; zero transaction fees for over 3,400 mutual funds; $0.65 per options contract. Fidelity Go® has no advisory fees for balances under $25,000 (0.35% per year for balances of $25,000 and over and this includes access to unlimited 1-on-1 coaching calls from a Fidelity advisor)
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Bonus
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Investment vehicles
Robo-advisor: Fidelity Go® IRA: Traditional, Roth and Rollover IRAs Brokerage and trading: Fidelity Investments Trading Other: Fidelity Investments 529 College Savings; Fidelity HSA®
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Investment options
Stocks, bonds, ETFs, mutual funds, CDs, options and fractional shares
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Educational resources
Extensive tools and industry-leading, in-depth research from 20-plus independent providers
Pros
- No commission fees for stock, ETF, options trades
- No transaction fees for over 3,400 mutual funds
- Limited-time special offers
- Abundant educational tools and resources
- 24/7 customer service
- Over 100 brick-and-mortar branches across the U.S. for face-to-face support
Cons
- Fidelity Go® has a 0.35% advisory fee per year for balances of $25,000 and over
- Some of Fidelity’s mutual funds require reaching specific thresholds
- Reports of platform outages during heavy trading days
Who’s this for? Fidelity topped J.D. Power’s 2024 U.S. Self-Directed Investor Satisfaction Study and earned an A+ from the Better Business Bureau, making it a good choice if you prioritize customer service.
Standout benefits: As a Fidelity investor, you can purchase fractional shares for as little as $1.
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Best for uninvested funds: Vanguard
Vanguard
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Vanguard account, but minimum $1,000 deposit to invest in many retirement funds; robo-advisor Vanguard Digital Advisor® requires minimum $100 to enroll
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Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock and ETF trades; zero transaction fees for over 3,000 mutual funds; $20 annual service fee for IRAs and brokerage accounts unless you opt into paperless statements; robo-advisor Vanguard Digital Advisor® charges up to 0.20% in advisory fees (after 90 days)
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Bonus
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Investment vehicles
Robo-advisor: Vanguard Digital Advisor® IRA: Vanguard Traditional, Roth, Rollover, Spousal and SEP IRAs Brokerage and trading: Vanguard Trading Other: Vanguard 529 Plan
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Investment options
Stocks, bonds, mutual funds, CDs, ETFs and options
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Educational resources
Retirement planning tools
Pros
- No commission fees for stock and ETF trades
- No transaction fees for over 3,000 mutual funds
- One of the largest ETF and mutual fund offerings around
- Robo-advisor Vanguard Digital Advisor® available for 90-day free trial with no advisory fees
- Vanguard 529 Plan helps you save for college early on
- Excellent customer service
- Offers retirement planning tools
- Customers get access to GetHuman, a website dedicated to human-to-human customer service, with features that include talking to a Vanguard rep, notice of the current hold time, reminders to call when call center opens, as well as pro tips and talking points for customers
- Vanguard Personal Advisor Services® available for personalized support
Cons
- $20 annual service fee for IRAs and brokerage accounts (investors can waive this fee by opting into paperless statements)
- Robo-advisor Vanguard Digital Advisor® requires minimum $100 to enroll and charges up to 0.20% in advisory fees (after 90 days)
- Basic trading platform only
- No robust research and data tools
Who’s this for? Known for its low-cost investing options, Vanguard is a good option if you want to keep more cash on hand.
Standout benefits: Any uninvested funds are put into the Vanguard Federal Money Market Fund by default, which can provide a better return than some competitors’ default 0.01% options. competitors.
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More on our top free stock-trading apps
Robinhood
Minimum deposit and balance
No minimum deposit is required to open an account and Robinhood has a $2,000 minimum for margin trading
Investment options
Stocks, ETFs, options trading, fractional shares, IPOs, plus cryptocurrencies through Robinhood Crypto (depending on where you live)
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Ally Invest
As long as you’re investing in eligible U.S. securities, you won’t pay commissions with Ally Invest. ETFs include options from iShares and Vanguard, both known for low expense ratios. Investors can access educational tools such as a probability calculator and options chains. Ally requires a $100 minimum for managed portfolios, but doesn’t charge any advisory fees.
Minimum deposit and balance
No account minimum for self-directed trading, $100 minimum for robo-portfolios
Investment options
Stocks, bonds, ETFs, options, mutual funds, margin accounts and forex trading
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Charles Schwab
Novices can use Schwab’s ETF Select List to determine which funds are suited for their needs, while the Personalized Portfolio Builder tool creates a diversified portfolio based on information provided around financial goals. Advanced investors can access research and earnings reports, plus real-time news from sources like Morningstar and Credit Suisse.
Minimum deposit and balance
No account minimum for active investing through Schwab One® Brokerage Account. Automated investing through Schwab Intelligent Portfolios® requires a minimum $5,000 deposit
Investment options
Stocks, bonds, mutual funds, CDs and ETFs
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E-Trade
While E-Trade does not offer fractional shares, currencies or crypto, there is a wide selection of mutual funds and its ETFs have lower expense ratios than other brokerages.
Minimum deposit and balance
No minimum to open an E-Trade brokerage account; $500 minimum to invest in Core Portfolios robo-advisor platform.
Investment options
Stocks, bonds, mutual funds, CDs, ETFs, options and futures
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J.P. Morgan Self-Directed Investing
In May 2024, J.P. Morgan ended its automatic investing platform and converted accounts to Self-Directed Investing. It offers an enhanced stock screener to help filter stocks based on criteria like sector and market cap and users can buy fractional shares for as little as $5.
Minimum deposit and balance
No minimum deposit to open an account and no minimum balance is required.
Investment options
Stocks, ETFs, mutual funds, options and fixed-income products
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Fidelity Investments
Active traders will find Fidelity has ample research tools from third-party providers such as Reuters, Ned Davis Research and Recognia.
Minimum deposit and balance
No minimum to open a Fidelity Go® account, $10 balance minimum for robo-advisor
Investment options
Stocks, ETFs, mutual funds, bonds and CDs, precious metals, crypto
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Vanguard
Minimum deposit and balance
No minimum to open a Vanguard account, a minimum $1,000 deposit to invest in many retirement funds, and a $3,000 minimum to enroll in Vanguard Digital Advisor® robo-advisor
Investment options
Stocks, bonds, mutual funds, CDs, ETFs and options
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How to choose an investing app
To choose the investing app that works for you , compare fees, required minimums, investment options, ease of use and customer service.
You should be able to find an investing app with zero commission fees, low expense ratios and plenty of investment vehicles for you to grow your money in the market.
What to consider when using an investing app
When using an investing app, know that you’re taking on some risk. Only invest with money that you’re comfortable losing. You’ll also want to consider how the app can best work for you, whether that’s letting you actively trade on your own, offering a robo-advisor service for automated investing or even giving you access to real-life financial advisors.
Know what fees you’ll be expected to pay for making trades or transactions, as well as management or advisory fees and expense ratios.
FAQs
What is zero-commission trading?
With zero-commission trading, a broker doesn’t charge fees for executing a trade. You may have to pay third-party fees, however, like mutual fund transaction fees and fees for options contracts.
What fees should I look for when trading?
Each brokerage platform charges different fees but, aside from commissions, investors should look at per-contract fees (for options), brokerage-assisted trades, management or advisory fees and transfer fees (when switching brokerages).
Can I start trading with just $1?
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Why trust CNBC Select?
Our methodology
To determine which zero-commission trading platforms offer the best for investors, CNBC Select narrowed down a list of 10 initial platforms. We then analyzed and compared each one based on the following factors:
- Investment account types
- Selection of investments
- Investment account minimums
- Investment account and advisory fees
- Expense ratios of available investments
- Trading fees
- Available technology, including mobile platforms
- Educational tools and resources
- Customer support
After reviewing the above features, we based our recommendations on platforms offering the widest range of investment options, robust educational tools and resources, user-friendly technology, as well as the lowest fees and expense ratios. We reviewed each company’s customer support structure, available avenues of communication and app reviews.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
With any trading platform, there are no guarantees you’ll earn a certain rate of return or current investment options will always be available. To determine the best approach for your specific investment goals, speaking with a reputable fiduciary investment advisor is recommended.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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