If you're dipping your toe into investing, most top online brokerages have online programs and mobile apps to get you started.
Many offer free stock trading platforms with no account minimums, making investing even more affordable. (Though you may still be charged expense ratios or management fees.)
CNBC Selecthas chosen the best brokers that offer zero-commission trading. (Seeour methodologyfor more information on how we made this list.)
Best free stock-trading platforms
- Best for joint banking and investing: Ally Invest®
- Best for fractional shares: Charles Schwab
- Best for educational resources: E*TRADE
- Best for mutual funds: J.P. Morgan Self-Directed Investing
- Best for customer service: Fidelity Investments
- Best for streamlined trading: Robinhood
- Best for uninvested funds: Vanguard
Best for joint banking and investing: Ally Invest
Ally Invest®
On Ally's secure site
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
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
Bonus
You may be eligible for up to $3,000 bonus cash when you open an Ally Invest Self-Directed account
Investment vehicles
Robo-advisor: Ally Invest Robo Portfolios IRA: Ally Invest Traditional, Roth and Rollover IRAs Brokerage and trading: Ally Invest Self-Directed Trading
Investment options
Stocks, bonds, ETFs, options, mutual funds, margin account and forex trading
Educational resources
Offers informational articles to help users improve their understanding of investment strategies and market trends
Terms apply.
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
Who's this for? Ally Invest offers an intuitive trading platform for both novice and experienced investors. Customers can choose from either Ally's self-directed portfolio or managed portfolio option, which is essentially a robo-advisor.
Standout benefits: Opening an Ally savings account alongside your investing account allows you to see all your money in one place and could save you time when transferring your funds.
[ Jump to more details ]
Best for fractional shares: Charles Schwab
Charles Schwab
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
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
Bonus
None
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™ and Schwab Organization Account
Investment options
Stocks, bonds, mutual funds, CDs and ETFs
Educational resources
Extensive retirement planning tools
Terms apply.
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)
- Trading platform StreetSmart Edge® available for more active investors
- 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? Charles Schwab offers something to investors of all experience levels, like no minimum account balances, helpful online tools and 24/7 customer service.
Standout benefits: Schwab Stock Slices allow you to buy fractional shares ("slices") in up to 30 top U.S. companies in one transaction. That can enable you to own part of a stock that might be outside your normal price range.
[ Jump to more details ]
Best for educational resources: E*TRADE
E*TRADE
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open an E*TRADE brokerageaccount; minimum $500 deposit to invest in robo-advisor platform Core Portfolios
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
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
Investment options
Stocks, bonds, mutual funds, CDs, ETFs, options and futures
Educational resources
Educational library includes in-depth articles and videos for any type of investor
Terms apply.
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 offers a comprehensive library of online resources, like 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 by creating watchlists for assets you're interested in.
[ Jump to more details ]
Best for mutual funds: J.P. Morgan Self-Directed Investing
Who's this for? J.P. Morgan's Self-Directed Investing is one of the few platforms that offers commission-free online mutual fund trading.
Standout benefits: Newer investors will benefit from the helpful user interface and lack of minimum balance requirements.
[ Jump to more details ]
Best for customer service: Fidelity Investments
Fidelity Investments
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
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)
Bonus
Find special offers here
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®
Investment options
Stocks, bonds, ETFs, mutual funds, CDs, options and fractional shares
Educational resources
Extensive tools and industry-leading, in-depth research from 20-plus independent providers
Terms apply.
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 has an A+ from the Better Business Bureau, making it a good choice if you prioritize customer service.
Standout benefits: Fidelity investors can purchase fractional shares for as little as $1.
[ Jump to more details ]
Best for streamlined trading: Robinhood
Robinhood
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
Fees
Fees may vary depending on the investment vehicle selected. Commission-free trading; regulatory transaction fees and trading activity fees may apply
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)
Investment vehicles
Brokerage account: Robinhood Financial commission-free investing
Investment options
Stocks, ETFs, options trading, fractional shares, IPOs, plus certain cryptocurrencies through Robinhood Crypto (depending on where you live)
Educational resources
"Investing basics" blog, an online library of content and Robinhood Snacks newsletter
Terms apply.
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? Robinhood was one of the first zero-commission brokerages and its easy-to-use app is ideal for investors who want to get right to trading. Standout benefits:
[ Jump to more details ]
Best for uninvested funds: Vanguard
Vanguard
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Vanguardaccount, but minimum $1,000 deposit to invest in many retirement funds; robo-advisor Vanguard Digital Advisor® requires minimum $100 to enroll
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)
Bonus
None
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
Investment options
Stocks, bonds, mutual funds, CDs, ETFs and options
Educational resources
Retirement planning tools
Terms apply.
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: By default, any uninvested funds are put into the Vanguard Federal Money Market Fund, which can provide a better return than the 0.01% default options offered by some competitors.
[ Jump to more details ]
More on our top free stock trading apps
Ally Invest
You won't pay commissions with Ally Invest as long as you're investing in eligible U.S. securities. ETF options include ones from iShares and Vanguard, both known for their low expense ratios. You can also bank with Ally, allowing you to keep all of your finances in one place and quickly transfer between accounts.
Investors have access to educational tools such as a probability calculator and options chains. With managed portfolios, Ally requires a $100 minimum 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
Available mobile app
Available in Apple App Store and Google Play
[ Return to summary ]
Charles Schwab
Charles Schwab allows investors to choose between no-transaction-fee mutual funds and ETFs, including from Schwab's proprietary lineup. Many of the expense ratios are extremely competitive, some as low as 0.05%.
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
Mobile app
Available in Apple App Store and Google Play
[ Return to summary ]
E*TRADE
E*TRADE provides educational resources for all levels, including webinars on how to diversify a portfolio and to build an income-seeking strategy with ETFs. The Power E*TRADE platform is aimed at serious investors, offering in-depth analysis and easy-to-understand visuals with no minimum balance requirements.
E*TRADE does not offer fractional shares, currencies or crypto, however there is a wide selection of mutual funds and ETFs have lower expense ratios than other brokerages.,
Minimum deposit and balance
No minimum to open an E*TRADE brokerageaccount; $500 minimum to invest in Core Portfolios robo-advisor platform.
Investment options
Stocks, bonds, mutual funds, CDs, ETFs, options and futures
Mobile app
Yes, available on both the App Store and Google Play
[ Return to summary ]
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
Mobile app
Available in Apple App Store and Google Play
[ Return to summary ]
Fidelity Investments
More active traders will find Fidelity has ample research tools from third-party providers such as Thomson 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, mutualfunds, bonds and CDs, precious metals, crypto
Mobile app
Available in Apple App Store and Google Play
[ Return to summary ]
Robinhood
Robinhood offers a library of educational articles to help beginner investors, as well as a daily financial newsletter.
While investors have access to stocks, options, ETFs, cryptocurrency, fractional shares and even IPO shares, Robinhood doesn't offer mutual funds or bonds.
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)
Mobile app
Available in Apple App Store and Google Play
[ Return to summary ]
Vanguard
Vanguard is aimed at investors who want to hold funds long-term, so it doesn't have many tools for active or short-term traders. It offers investment advice through the Vanguard Digital Advisor robo-advisor and Vanguard Personal Advisor Services.
Minimum deposit and balance
No minimum to open a Vanguardaccount, 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
Mobile app
Yes, available on both the App Store and Google Play
[ Return to summary ]
FAQs
What is zero-commission trading?
Zero-commission trading is when 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).
What are expense ratios?
An expense ratio is a fee charged annually to investors which covers the administrative and operating expenses of ETFs or mutual funds. This cost is expressed as a percentage and taken out from the amount you've invested, which lowers the amount of returns you receive.
Can I start trading with just $1?
While some accounts may have higher monetary requirements, accounts like the J.P. Morgan Self-Directed Investing allow you to start trading with just $1.
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every stock trading platform review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of investing products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best free stock trading platforms.
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 also looked into each company's customer support structure, available avenues of communication and app reviews.
Note that with all trading platforms, 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.
Catch up on CNBC Select's in-depth coverage ofcredit cards,bankingandmoney, and follow us onTikTok,Facebook,InstagramandTwitterto stay up to date.
Read more
The best investing apps
The 5 best robo-advisors
How to set up your first brokerage account
E*TRADE review: What makes this broker so popular
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.
