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11 Best Online Brokers for Free Trading of December 2024

All of the online brokers below offer free stock trading, so investors can bypass transaction costs and build portfolios free of charge. They also charge low or no account fees.

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Written by Chris Davis
Assigning Editor
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Edited by Arielle O'Shea
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Our deep, independent analysis of online brokers sorts through key account details to find and evaluate the information investors want when choosing an account. To see our full methodology and learn more about our process, read our criteria for evaluating brokers.

Over 60 investment account providers reviewed and rated by our expert Nerds.

More than 50 years of combined experience writing about finance and investing.

Hands-on testing of the account funding process, broker websites and stock-trading platforms.

Dozens of objective ratings rubrics, and strict guidelines to maintain editorial integrity.

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Commission-free trades for stocks, exchange-traded funds and options are the industry standard among top online brokerages. That means investors looking for the best free stock trading platform need to compare their options on other factors — things like investment selection, trading platform and options contract fees.

We've done that work for you. Here are NerdWallet’s picks for the best brokers for free trading. In addition to not charging commissions on stock, ETF or options trades, all of the brokers below offer fractional shares and solid execution quality.

Note: Increasingly, brokers are doing away with their options contract fees in addition to commissions. Below, we've flagged the brokers that don't charge commissions for options trades.

Our deep, independent analysis of online brokers sorts through key account details to find and evaluate the information investors want when choosing an account. To see our full methodology and learn more about our process, read our criteria for evaluating brokers.

Over 60 investment account providers reviewed and rated by our expert Nerds.

More than 50 years of combined experience writing about finance and investing.

Hands-on testing of the account funding process, broker websites and stock-trading platforms.

Dozens of objective ratings rubrics, and strict guidelines to maintain editorial integrity.

sparkle-illustration

Get matched with a trusted financial advisor for free  with NerdWallet Advisors Match

Commission-free trades for stocks, exchange-traded funds and options are the industry standard among top online brokerages. That means investors looking for the best free stock trading platform need to compare their options on other factors — things like investment selection, trading platform and options contract fees.

We've done that work for you. Here are NerdWallet’s picks for the best brokers for free trading. In addition to not charging commissions on stock, ETF or options trades, all of the brokers below offer fractional shares and solid execution quality.

Note: Increasingly, brokers are doing away with their options contract fees in addition to commissions. Below, we've flagged the brokers that don't charge commissions for options trades.

Best Online Brokers for Free Trading

Our pick for

no options contract fee

NerdWallet rating 

5.0

/5
Webull
Learn more

on Webull's website

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to 40 free fractional shares ( each valued up to $3,000)

when you open and fund an account with Webull.

Pros

  • Commission-free stock, options and ETF trades.

  • Easy-to-use platform.

  • Advanced tools.

  • High interest rate on uninvested cash.

  • High order execution quality.

Cons

  • No mutual funds.

  • Separate app required to trade crypto.

Why We Like It

Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, it lacks access to mutual funds.

NerdWallet rating 

4.6

/5
Public
Learn more

on Public's website

Fees

$0

Account minimum

$0

Promotion

Earn up to $10,000

when you transfer your investment portfolio to Public.

Pros

  • Commission-free stock, options and ETF trades.

  • Rebates for trading options.

  • Impressive selection of alternative assets.

  • Easy-to-use signup and trading interface.

  • High interest rate on uninvested cash.

Cons

  • No mutual funds.

  • Lack of tools (e.g. customizable investment screeners).

  • No IRA accounts.

Why We Like It

Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto, alternative assets and bonds, as well as a high-yield savings account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.

NerdWallet rating 

4.5

/5
Robinhood
Fees

$0

per trade

Account minimum

$0

Promotion

1 Free Stock

after linking your bank account (stock value range $5.00-$200)

Pros

  • Commission-free stock, options and ETF trades.

  • Streamlined interface.

  • Cryptocurrency trading.

  • IRA with 1% match (3% for Gold members).

  • High interest rate on uninvested cash.

Cons

  • No mutual funds.

  • Little third-party research.

Why We Like It

Robinhood provides free stock, options, ETF and cryptocurrency trades (but no bonds or mutual funds), and its account minimum is $0, too. Robinhood Gold offers a high interest rate on uninvested cash and low margin rates.

NerdWallet rating 

4.4

/5
SoFi Active Investing
Learn more

on SoFi Invest's website

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $1,000

in stock when you fund a new account.

Pros

  • No commissions on stock, options and ETF trades

  • Complimentary access to financial planners.

  • IPO access.

  • IRA match.

Cons

  • Low interest rate on uninvested cash.

Why We Like It

SoFi Active Investing's $0 trading commission, complimentary access to financial advisors, fractional shares and $0 account minimum are attractive to new investors. More advanced investors will appreciate the company's wide mutual fund selection and IPO access.

NerdWallet rating 

4.7

/5
Moomoo
Fees

$0

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Commission-free stock, ETF and options trades.

  • No contract fee on equity options.

  • Popular, easy-to-use app.

  • High yield on uninvested cash.

  • Low margin rates.

Cons

  • No mutual funds or bonds.

  • Lower than average execution quality.

Why We Like It

Moomoo offers free stock and option trades in an easy-to-use trading platform that charges low margin rates. It's not built for passive retirement investors — IRAs aren't supported, nor are mutual funds — but there's a lot to like about Moomoo for more active traders.

NerdWallet rating 

4.8

/5
Charles Schwab
Learn more

on Charles Schwab's website

Fees

$0

per online equity trade

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Commission-free stock, options and ETF trades.

  • Five trading platforms with no minimums or fees.

  • Access to thinkorswim platforms.

  • Extensive research offerings.

  • Large fund selection.

Cons

  • Low interest rate on uninvested cash.

Why We Like It

Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, four free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.

NerdWallet rating 

5.0

/5
Interactive Brokers IBKR Lite
Learn more

on Interactive Brokers' website

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Commission-free stock, options and ETF trades.

  • Large investment selection.

  • Strong research and tools.

  • Huge selection of no-transaction-fee mutual funds.

  • High order execution quality.

Cons

  • High minimum to earn interest on uninvested cash.

  • Website can be difficult to navigate.

Why We Like It

Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 19,000 mutual funds, and a well-featured platform.

NerdWallet rating 

5.0

/5
Fidelity
Fees

$0

per trade for online U.S. stocks and ETFs

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Commission-free stock, options and ETF trades.

  • Large selection of research providers.

  • Strong customer service.

  • Expense-ratio-free index funds.

  • Highly rated mobile app.

  • High interest rate on uninvested cash.

Cons

  • Relatively high broker-assisted trade fee.

Why We Like It

Fidelity is one of the largest and most well-established brokerages, and it shows. Fidelity charges no trading commissions, offers an extensive set of no-fee, no-minimum index funds. It also stands out for its top-notch research tools, a renowned trading platform and very strong customer service.

NerdWallet rating 

4.5

/5
tastytrade
Fees

$0

Account minimum

$0

Promotion

N/A

Pros

  • Powerful trading platform.

  • Commission-free stock, options and ETF trades.

  • Low options contract fees.

  • Strong mobile trading app.

Cons

  • Limited external research providers.

  • Low interest rate on uninvested cash.

  • Advanced platform not suitable for beginners.

Want to compare more options? Here are our other top picks:

Last updated on December 3, 2024

Methodology

How do we review brokers?

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating brokers and our process, read our full methodology.

To recap our selections...

NerdWallet's Best Online Brokers for Free Trading of December 2024