Best Commission-Free Trading Brokers in the US 2024 - Investing.com (2024)

What Is Commission-Free Trading?

Commission-free trading refers to a brokerage service that doesn’t charge a fee for each trade you make. Instead, these brokers make money by other means, such as earning interest on the cash balances you keep in your account, or by selling order flow to high-frequency trading firms. This can be a more cost-effective way to trade, especially if you’re an active trader, as the fees and commissions can quickly add up.

However, it’s important to remember that commission-free trading is not the same as free trading. There are still other costs involved, such as bid-ask spreads and trading platform fees, so it’s essential to do your research and compare the different options available to you. With this in mind, let’s take a look at some of the best commission-free trading brokers for U.S.investors.

Best Commission-Free Stock Trading Platforms In The U.S.

In the world of online trading, there are now several commission-free stock trading platforms available to U.S. investors. Here are some of the best options on the market:

• Robinhood:

Robinhood is a commission-free stock trading platform that has become one of the most popular options for U.S. investors. The platform offers users the ability to trade stocks, ETFs, options, and cryptocurrencies without paying any commissions or fees. One of the key features of Robinhood is its user-friendly interface. The app is designed to be simple and intuitive, making it easy for beginner investors to get started. Additionally, the app is mobile-friendly and can be used on-the-go, making it convenient for busy individuals who need to manage their investments from their phone. Another reason for Robinhood’s popularity is its accessibility. With no account minimum, Robinhood makes it possible for anyone to start investing, regardless of their financial situation. This can be especially beneficial for young investors who may not have a lot of money to invest but still want to get started building their portfolios.

• TD Ameritrade:

TD Ameritrade offers a comprehensive trading experience for investors of all levels, from novice stock buyers using their phones to professional traders with multiple screens. With a range of trading platforms available, TD Ameritrade caters to the needs of every type of investor. In addition to offering commission-free trades, TD Ameritrade also provides access to a wealth of third-party research and reliable in-house content, ensuring that investors have the information they need to make informed trading decisions. The broker also places a strong emphasis on education, offering educational content that covers all levels and caters to different learning styles, making it easier for investors to improve their skills and knowledge. With its exceptional offerings and focus on education, TD Ameritrade is a top choice for investors in 2023.

• Charles Schwab:

Charles Schwab, a pioneer among the best commission-free brokers, offers its customers an extensive array of tools, guidance, and actionable investment ideas at a reasonable cost. With a broad selection of investment offerings, Charles Schwab is well-equipped to meet the needs of a diverse range of investors. Whether you are a long-term investor or a trader, Charles Schwab provides a rich library of research and content to help you make informed decisions. With its comprehensive offerings and commitment to delivering value to its customers, Charles Schwab is a strong option for investors in 2023.

• Fidelity:

As a broker that prioritizes value, Fidelity offers commission-free trades, exceptional market research, top-notch trading tools, and a user-friendly mobile app. With its extensive range of services, Fidelity is a formidable competitor in the online brokerage space. The broker’s commitment to education is evident in its top-notch educational offerings, including the Fidelity Bloom app, which helps individuals turn into savers by using an emotionally intelligent approach to personal finance. With a solid reputation built over decades of reliable client service, Fidelity is a highly trusted and well-regarded online broker. Whether you are a seasoned investor or just starting out, Fidelity offers the tools and resources you need to achieve your financial goals.

Commission-Free Crypto Trading Platforms

Cryptocurrency has seen a surge in popularity among investors of all levels of experience. With a vast array of online exchanges and brokers, it can be difficult to choose the right platform for trading crypto. To assist in this process, we have compiled a list of the top three commission-free crypto trading platforms that offer the best value in 2023. In this guide, we will provide a comprehensive overview of these platforms and highlight their key features, making it easier for you to find the best option for your trading needs.

• Coinbase Pro:

Coinbase is a well-known cryptocurrency exchange that has become a top choice among beginner traders. With support for a wide range of cryptocurrencies, including bitcoin, ethereum, Litecoin, Ripple, Bitcoin Cash, and more, Coinbase makes it easy for traders to access the crypto market. The platform offers both a web-based version and mobile applications for iOS and Android devices, making it convenient for users to trade on-the-go. Operating in over 100 countries, Coinbase has a large and growing user base, with over 43 million active traders registered on the exchange. Whether you’re new to cryptocurrency trading or a seasoned pro, Coinbase is a platform that you should definitely consider.

• Binance:

Binance is a leading global cryptocurrency exchange with its headquarters located in Hong Kong. It holds a top position in the cryptocurrency world, according to CoinMarketCap, a leading cryptocurrency portal. Binance leads in terms of daily trading volume, number of new and active users, liquidity, and web traffic, among other key indicators. In addition to being a successful cryptocurrency exchange, Binance is also a cryptocurrency startup that has its own native asset, known as “Binance Coin”, which serves as the internal payment unit within the Binance ecosystem. With its strong track record and impressive performance metrics, Binance is a highly regarded player in the cryptocurrency world.

• Crypto.com:

The Crypto.com exchange offers an attractive platform for trading the most popular cryptocurrencies. With large trading volumes and a broad selection of assets, it provides users with ample opportunities to make trades. Additionally, the exchange allows for cryptocurrency loans, providing another avenue for earning potential. Investors can also take advantage of the Supercharger investment program and participate in regular trader competitions hosted by the exchange to further boost their earnings. Overall, Crypto.com offers a comprehensive and favorable environment for cryptocurrency trading.

Which Platforms Offer Commission-Free Options Trading?

Options trading is a popular form of investing that provides the opportunity to potentially earn high returns while also hedging against market risks. However, options trading can also be accompanied by high commission fees, which can eat into your profits. Fortunately, there are several commission-free options trading platforms available, providing investors with the ability to trade options without having to worry about exorbitant commission costs.

In this section, we will delve into the best commission-free options trading platforms available, evaluating their features, benefits, and drawbacks to help you choose the right platform for your needs. Whether you are a seasoned options trader or just starting out, you will find valuable information on the best platforms for commission-free options trading.

• Webull:

Webull caters to the tech-savvy generation of casual investors with its sleek and user-friendly interface for desktop and mobile applications. However, the brokerage does not compromise on delivering advanced tools for active traders. Whether you’re looking to trade on-the-go or from your desktop, Webull’s comprehensive platform caters to both novice and experienced traders. Webull has several features that make it an attractive platform for commission-free options trading. The platform offers a wide range of investment products, including stocks, options, ETFs, and cryptocurrencies, allowing traders to diversify their portfolios.

• ETrade:

ETrade stands out as a top choice for most investors due to its comprehensive offerings. Both novice and intermediate investors can greatly benefit from its extensive resources, including free access to financial consultants and trading specialists, as well as a robust educational and research platform. These features, coupled with its commission-free options trading, make ETrade the best choice for individuals seeking a well-rounded and convenient investment experience. ETrade offers expert guidance and support through its team of financial consultants and trading specialists, which is a great resource for inexperienced traders who want to grow their knowledge and skills. Additionally, the brokerage’s low trading fees and no minimum deposit requirement further solidify its position as the best platform for commission-free options trading.

• TradeStation:

TradeStation is widely regarded as an excellent choice for active traders, due to its powerful trading platform, commission-free trades, and extensive selection of tradable assets, including cryptocurrencies. TradeStation is widely considered as one of the best platforms for commission-free options trading due to several factors. Firstly, its trading platform is specifically designed to cater to the needs of active traders, offering advanced features and customizable tools for efficient and effective trading. Secondly, TradeStation offers $0 trade commissions, allowing traders to save on transaction costs and maximize their profits. Lastly, the platform offers a wide range of tradable securities, including cryptocurrencies, making it an ideal choice for traders looking to diversify their portfolios and capitalize on new investment opportunities. These factors combined make TradeStation a top choice for options traders.

Commission-Free ETF Trading Platforms

Exchange-traded funds (ETFs) have become a popular investment option for those looking to build a diverse portfolio affordably. The simplicity of investing in ETFs has made them a common offering among online brokers. As they trade similarly to individual stocks, the features investors look for in a stock-trading account are also relevant to ETF trading.

With the trend of offering commission-free trading for ETFs among brokers, it’s important to consider other crucial factors when choosing a broker. These include the selection of funds, tools for portfolio building and management, and overall user experience. To help you find the best online broker for your ETF investment needs, we have compiled a list of top picks.

• Interactive Brokers:

Interactive Brokers may be considered the best commission-free ETF trading platform for several reasons. Firstly, it offers a wide range of ETFs for trading, including both domestic and international options, making it an ideal choice for diversifying a portfolio. Additionally, Interactive Brokers has a powerful trading platform, which allows investors to make informed trades and manage their portfolios effectively. The platform also offers a variety of tools and resources for investors to make the most out of their investments. Moreover, Interactive Brokers is known for its low trading fees, making it an attractive choice for cost-conscious ETF investors. All these factors make Interactive Brokers an ideal choice for those who are looking for a commission-free ETF trading platform.

• Merrill Edge:

Merrill Edge is considered as a one of the best commission-free ETF Trading Platform for several reasons. Firstly, it offers a comprehensive suite of investment tools, including educational resources and market research, which can help investors make informed investment decisions. Additionally, Merrill Edge offers a wide range of commission-free ETFs from top asset managers, providing investors with a variety of choices to build a well-diversified portfolio. Moreover, the platform’s user-friendly interface and easy-to-use mobile app make it simple for investors to track their portfolios, research new investments, and execute trades on-the-go. Additionally, Merrill Edge offers competitive pricing with no account minimums, making it accessible to both new and experienced investors.

• J.P. Morgan Self-Directed Investing:

J.P. Morgan Self-Directed Investing is an online trading platform that offers a wide range of investment options to its clients. The platform has a user-friendly interface, making it accessible for both novice and experienced investors. In addition to commission-free ETF trading, J.P. Morgan Self-Directed Investing also provides a robust research and educational platform, with access to market insights and investment analysis from the firm’s team of experts. The platform also offers a wide range of tools and resources, including portfolio analysis and risk management tools, that can help investors make informed investment decisions. Furthermore, J.P. Morgan is a well-established financial institution with a long history of providing reliable and secure investment services, making it a trusted choice for investors looking for a commission-free ETF trading platform.

Commission-Free Forex Trading Platforms

Forex trading has become a popular investment opportunity for individuals looking to expand their portfolios and trade on a global market. With the rise in online trading, more and more platforms have emerged that offer commission-free forex trading. Commission-free trading means that investors can trade without having to pay extra fees, which can significantly reduce the overall cost of investing. This section will highlight some of the best commission-free forex trading platforms, offering features such as a variety of currency pairs, low spreads, and high levels of security and support.

• IG Group:

IG is a highly regarded multi-asset broker that offers a complete trading solution with top-notch trading and research tools, industry-leading education, and a broad range of markets to trade in. With a strong reputation for trust and reliability, IG is publicly traded and regulated globally, making it a reliable choice for traders. Its comprehensive offering guarantees a fantastic overall trading experience.

• FOREX.com:

FOREX.com is a reputable brand that provides a top-notch trading experience for forex worldwide. With a broad array of markets available and an impressive set of proprietary platforms, as well as some access to MetaTrader, it offers an outstanding solution for traders in the market. With its extensive range of tradable markets and its suite of proprietary platforms, FOREX.com stands out as one of the best commission-free forex trading platforms available.

• eToro:

eToro stands out as an exceptional commission-free forex trading platform due to its user-friendly copy-trading feature. This platform allows traders to follow the trades of experienced investors and replicate their strategies, or even receive special benefits for sharing their own successful trading techniques. eToro is considered one of the best commission-free forex trading platforms due to its innovative and user-friendly copy-trading feature. This feature allows traders to effortlessly follow and copy the trades of experienced investors, helping to simplify the trading process and potentially improve returns. Additionally, eToro rewards users who choose to share their own successful trading strategies, further adding to its appeal. The platform’s ease-of-use, combined with its unique features, makes it a top choice for both beginner and experienced forex traders.

Comparison of Features and Fees of The Top Commission-Free Trading Platforms

Final Say

Overall, commission-free trading platforms have gained popularity in recent years as they allow traders and investors to buy and sell stocks, options, ETFs, forex, and other assets without incurring additional costs. Each platform offers a unique set of features, tools, and fees that cater to different types of traders and investors, whether they are looking for a beginner-friendly platform, a platform with advanced trading tools, or a platform that specializes in a specific asset class.

When choosing a commission-free trading platform, it is important to consider your specific needs and goals as a trader or investor. Consider factors such as the platform’s range of tradable assets, fees, user interface, research and educational resources, and customer support. Ultimately, the best commission-free trading platform for you will depend on your individual circ*mstances and preferences.