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The best online brokerages for free stock trading typically offer $0 account minimums or low minimum requirements, commission-free trading, investment education and/or market research, and flexible customer support.
A brokerage account is like a checking account for your investments. Some of the best online brokerage accounts offer a secure and educational platform to hold cash, stocks, bonds, ETFs, and other forms of investments (such as cryptocurrencies). If you're just starting out, the best online brokerages for beginners offer tips, tools, and educational guides.
The Best Free Stock Trading Apps
- Charles Schwab: Best overall
- Fidelity Investments: Best for index funds
- Firstrade: Best for fee-free active trading
- SoFi Invest: Best robo-advisors and low-cost investing
- Webull: Best for options trading
- Robinhood Investing: Best for active trading
- E*TRADE: Best for all types of investors
- Interactive Brokers: Best for advanced traders
Here are the best free stock trading apps as picked by Insider's editors.
Compare the Best Apps for Free Stock Trading
Best Free Stock Trading Apps Frequently Asked Questions
Several brokerages have free stock trading, including Charles Schwab, Fidelity, SoFi, and more.
Yes, many brokerages now allow you trade without paying a fee.
To start buying stocks for free, open a brokerage account with a free stock trading app such as Webull or Robinhood. Deposit money into your brokerage account, then use the funds to buy stocks.
Yes, you can trade stocks for free with Robinhood.
Free Stock Trading App Reviews
Best Free Stock Trading App Overall
Charles Schwab
If you're set on stock trading, Charles Schwab is a competitive choice. The brokerage's combined offering of commission-free accounts, low-cost automated accounts, and IRAs make it an attractive option for all types of traders and investors.
You'll also have access to several types of investments, including stocks, ETFs, options, mutual funds, and more. Like Fidelity, Schwab also offers several of its own index mutual funds, but these funds have slightly higher expense ratios.
Schwab's two automated accounts — Charles Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium — are best for hands-off investors. Schwab Intelligent Portfolios invests your money in a diversified portfolio of ETFs. The automated account also regularly monitors your portfolio's performance and rebalances the account when necessary.
Schwab Intelligent Portfolios Premium has a higher minimum requirement ($25,000) and annual fee, but it merges automated investing and one-on-one advice from a certified financial planner (CFP).
This brokerage also offers several investment education and market research resources. Charles Schwab has a knowledge center that provides informational articles on all areas of financial planning. It also offers market insights and live webcasts and programs on investing.
What to look out for: Keep in mind that you'll need at least $5,000 to use Schwab's Intelligent Portfolios automated account. If you want one-on-one access to a human advisor, you'll need at least $25,000.
Best Free Stock Trading App for Index Funds
Fidelity
Fidelity offers several investment products that cater to both active traders and passive investors. Like many of the brokerages on this list, it offers commission-free trading on stocks, ETFs, and options. But unlike the other brokerages mentioned below, Fidelity offers a considerably unique product: Zero Expense Ratio Index mutual funds.
Like the name suggests, Fidelity Investments Zero Expense Index Funds are free of account minimums and expense ratios. In other words, you'll only have to pay for shares. Fidelity offers four primary index funds: Fidelity® ZERO Large Cap Index Fund (FNILX), Fidelity® ZERO Total Market Index Fund (FZROX), Fidelity® ZERO Extended Market Index Fund (FZIPX), and Fidelity® ZERO International Index Fund (FZILX).
The brokerage also offers more than 3,400 mutual funds and more than 7,000 stocks and ETFs. If you're big on research access, Fidelity utilizes investment research from Thomson Reuters StarMine, and other sources.
If you're a passive or hands-off investor, Fidelity has multiple options for you. Its automated investment account, Fidelity Go, creates and manages an investment portfolio for you. The other option is Fidelity Personalized Planning and Advice. These accounts also offer automated investment management, but they give you one-on-one human advisor access as well.
What to look out for: One thing to keep in mind is that, if you're an automated investor, Fidelity Go charges more for higher account balances. For instance, Fidelity Go charges $0 for account balances under $10,000. You'll pay $3 per month if you have between $10,000 and $49,999. If you've got over $50,000, you'll pay an annual fee of 0.35%.
Best Free Stock Trading App for Active Trading Without Fees
Firstrade
Firstrade is an online discount brokerage offering a variety of wealth-building products for active traders. The investment app stands out due to three key qualities: Firstrade offers US trading and international trading in more than 65 regions, it offers a Chinese language support option for Chinese-speaking investors, and most of its investment products are free.
Firstrade charges no fees for stocks, ETFs, options and mutual funds. The investment app also charges $0 for options contracts (most investment apps charge $0.50 or $0.65 for options contracts).
Firstrade also has no shortage of investment research and trading platforms. It offers free market research from Morningstar, Benzinga, Zacks, and Briefing.com. In addition to its web and mobile platforms, Firstrade also gives you more trading flexibility with its Options Wizard and Firstrade Navigator tools.
Firstrade currently offers more than 11,000 mutual funds and more than 2,200 commission-free ETFs.
What to look out for: Firstrade is best for active traders who prefer to handle investment transactions and research on their own. The brokerage isn't the best option for you if you're looking for automated or advisor-assisted accounts.
Best Free Stock Trading App for Low-cost Trading and Automated Investing
SoFi Invest
Though SoFi Invest is popularly known for its loan services, the company also offers competitive investment products. Its investments include stocks, ETFs, IPOs, and cryptocurrencies, and it offers complimentary certified financial planner (CFP) access.
Whether you'd like to actively trade stocks and other investments, park your money in an IRA, or build wealth through an automated account, SoFi has an option for you. Plus, both it charges zero fees for both its self-directed accounts and its automated account.
You'll mainly run into fees when trading cryptocurrencies. SoFi currently offers bitcoin, ether, dogecoin, and more than 19 other coins (see its complete list of coins here). But it charges a 1.25% markup on these assets.
What to look out for: SoFi only offers stocks, ETFs, and cryptocurrencies. If you're looking for other investments (e.g., mutual funds or bonds), this platform may not be the best choice for you.
Best Free Stock Trading App for Options Trading
Webull
Webull offers low-cost trading all around. While the investment app's account selection is limited to individual brokerage accounts and IRAs, it lets you open either account at no additional cost (with the exception of small clearing firm and regulatory agency fees).
Like Firstrade, Webull charges $0 for options contracts. Its other account features include extended hours trading (from 4 a.m. to 9:30 a.m. or 4p.m. to 8p.m.), Nasdaq-sponsored market data, and free real-time market quotes.
If you're interested in investing in virtual assets or borrowing money to invest, Webull also offers cryptocurrencies and margin trading.
What to look out for: Webull's investment selection only includes stocks, ETFS, American depositary receipts (ADRs), and cryptocurrencies. If you're interested in other investment choices, you may need to look elsewhere.
Best Free Stock Trading App for Active Trading
Robinhood
Robinhood Investing is best for active traders, options traders, and day traders looking to buy and sell investments at low costs. The app currently offers commission-free stocks, ETFs, and options (though options cost $0.65 per contract), and cryptocurrencies.
Robinhood and Webull share several similarities when it comes to fee-free active trading. They both offer the same investments, but they vary when it comes to account types and account features. Unlike Webull, Robinhood offers larger instant deposits (up to $50,000) for margin accounts, plus a cash management account that offers a 0.30% APY.
Robinhood also provides professional investment research, but this only applies to Robinhood Gold members. Robinhood Gold has a $5 monthly fee, but it includes both margin trading (borrowing money to invest) and bigger deposits.
What to look out for: Robinhood's investment research is mainly available for Robinhood Gold members. Though the investment app offers a library that contains informational blog posts on investing topics, you won't get much guidance beyond that. Another thing to note is that Robinhood doesn't currently allow you to name beneficiaries on investment accounts. This could be a downside for those looking to transfer their assets after death.
The investment app also faced backlash earlier in 2021 after it temporarily restricted trades of Gamestop (GME), AMC Entertainment (AMC), and other companies. The app eventually reopened trading on those stocks.
Best Free Stock Trading App for All Types of Investors
E*TRADE
E*TRADE is another popular brokerage that offers free trades on stocks, ETFs, and other investments. The investment app also has thousands of no-load, no-transaction-fee mutual funds (mutual funds that are free of commissions or sales charges).
Its options — which are also commission-free — cost $0.65 per contract if you make less than 30 trades per quarter. But if you make more than 30 trades per quarter, E*TRADE charges $0.50 per contract.
E*TRADE's account selection also includes automated accounts and managed portfolios. Its Core Portfolios automated account has a $500 minimum requirement and 0.30% annual fee. Its managed portfolios — Blend Portfolios and Fixed Income Portfolios — give you access to human advisors who help manage your investments.
E*TRADE also offers IRAs, Coverdell Education Savings Accounts (ESAs), and custodial accounts.
What to look out for: If you're planning on trading options, you'll pay less if you trade more frequently, but you'll pay more if you make less than 30 trades per quarter.
Best Free Stock Trading App for Advanced Traders
Interactive Brokers
Interactive Brokers offers a long list of trading tools and platforms, market research resources, and investment products for experienced, active traders. In addition to its commission-free offering, the brokerage lets you place trades both in the US and in international markets. This might be appealing to retail traders interested in investing in foreign currencies.
Interactive Brokers also provides fractional shares, automated investing, cryptocurrencies (through Paxos Trust Company), and investment education. For instance, its Traders Academy offers courses on all things investing. The brokerage's Trader Workstation (TWS) application gives you trading access in over 100 markets worldwide.
Interactive Brokers' automated advisor, Interactive Advisors, could be a good fit for those looking for more guidance. Minimums on its automated accounts range from $100 to $50,000, and annual fees span from 0.08% to 1.5%.
What to look out for: The investment platform's website can be tricky to navigate.
Other Brokers We Considered for Free Stock Trading
- Vanguard: Vanguard offers a vast collection of wealth-building products, including brokerage accounts, automated and advisor-assisted accounts, IRAs, cash management accounts, and more. It also provides commission-free trading on stocks, ETFs, and options.
- Ally Invest: Ally Invest is best for all types of investors. The online brokerage provides active trading, automated investing, IRAs, forex trading, and more. You can also use Ally to open checking, savings, or other bank accounts.
- Merrill Edge: Merrill Edge caters to all types of investors. The brokerage offers commission-free trading on stocks, ETFs, and options. And due to its affiliation with Bank of America, BOA users can integrate personal bank accounts with any Merrill Edge investing accounts (including its automated portfolios). The biggest thing to keep in mind is that you won't be able to buy investments like precious metals or cryptocurrencies.
- M1 Finance: This money management investment app offers a wide array of account types and features. Though it only allows you to trade stocks or ETFs, M1 Finance also offers an automated investing option for hands-off investors.
- TD Ameritrade: Now owned by Charles Schwab, TD Ameritrade offers interactive trading platforms, commission-free trading, automated investing, investment research resources, and more.
- tastytrade: Previously called tastyworks, tastytrade is an online trading platform that offers commission-free trades for stocks and ETFs. But this platform is more focused toward options and futures trading.
Why You Should Trust Us: Our Expert Panel on The Best Stock Trading Apps
We consulted financial planners, investing experts, and our (now former) wealth-building reporter to inform our picks for the best online brokers for free stock trading.
We're focusing on what makes an online brokerage account most useful. When comparing an app, it's best to consider fees, account types, investment choices, and investment research and education resources.
We interviewed the following three investing experts to see what they had to say about investment apps:
- Brian Fry, CFP, founder at Safe Landing Financial
- Charlotte Geletka, CFP, CRPC, managing partner at Silver Penny Financial Planning
- Kaysian Gordon, MBA, CFP, CDFA, CPA, wealth manager at Clarus Group
What are the advantages and/or disadvantages of using an online broker for free stock trading?
Brian Fry, CFP:
Online brokers offering free stock trading offer greater savings for investors. There are several options to choose from which is great for DIY investors.
It's important to consider how financial companies are making money, which may not always provide as transparent of an investing experience. Not to say this is always the case, but free trades encourage more trading instead of long-term investing.
Charlotte Geletka, CFP, CRPC:
Online brokerages are great for DIY, and they are typically very low cost. However, you will not receive the same financial advice as you would working with a financial advisor.
Kaysian Gordon, MBA, CFP, CDFA, CPA:
There are lots of advantages. As long as [the brokerage] has the guidance you need and the research capabilities, you're able to start investing for little to no cost.
Who should consider using a broker that offers free stock trading?
Brian Fry, CFP:
Investors that have the time and interest to manage investments along with the discipline and experience of riding out volatile markets are a good fit for using an online broker for free stock trading.
Charlotte Geletka, CFP, CRPC:
This is a great place for what I call "fun money," so you can trade without risking your retirement or serious investment dollars.
Any other advice you'd offer someone who's considering opening a commission-free brokerage account?
Brian Fry, CFP:
When considering opening a commission-free online brokerage account, proceed with caution. Free isn't always best. Consider the importance of investing long-term over short-term trading.
Kaysian Gordon, MBA, CFP, CDFA, CPA:
Do the comparisons. There are lots of great companies out there.
Methodology: How we Reviewed the Best Stock Trading Apps
When narrowing down our list of the best brokerages, we used Insider's rating methodology for investing platforms to examine fees, investment selection, account types, investment research availability, and customer support. We also included information on each broker's Better Business Bureau rating.
Each brokerage listed in this review offers unique features, but what they all provide is $0 or low account minimums and commission-free trading.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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