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Best Brokers for Free Stock Trading in 2016

Best Brokers for Free Stock Trading in 2016

Here is the ultimate rundown of brokers, their prices, and the freebies they offer. This article contains information on the most popular and widely used brokers in the country, along with information on which offer free trades, minimum-free accounts and much more.

Commission Free Trades

Commission free trades are rare, but some companies are so desperate for investors that they will offer anything, which includes commission-free trades.

Loyal 3

  • You may invest as little as $10 in some stocks
  • Commission is $0 per trade
  • There is no account minimum
  • Invest in more than 70 well-known companies without a commission

Robinhood

  • There is a free trading app for buying stocks
  • Commission is $0 per trade
  • There is no account minimum
  • Offer commission free trading for over 5000 EFTs and equities

Commission-Free EFT Trading

Some brokers have commission-free EFT trading for a number of reasons. The most common reason is that it encourages investment through the broker. Some brokers have account minimums that demand you maintain a certain balance or level of trading if you wish to keep your account open.

+ Charles Schwab

  • 200+ commission-free ETFs
  • There is a $1000 minimum balance requirement

+ TD Ameritrade

  • 100+ commission-free ETFs
  • There is no account minimum

+ OptionsXpress

  • 200+ commission-free ETFs
  • There is no account minimum

+ Robinhood

  • 200+ commission-free ETFs
  • There is no account minimum

+ E*TRADE

  • 100+ commission-free ETFs
  • There is no account minimum

+ Fidelity Investments

  • 85+ commission-free ETFs
  • There is no account minimum

+ Firstrade

  • 10 commission-free ETFs
  • There is no account minimum

No-Transaction-Fee Mutual Funds

+ Merrill Edge

  • 5000 no-transaction-fee mutual funds
  • Operating expenses are subtracted from the fund’s annual returns
  • The usual transaction fee for mutual funds is $19.95

+ Fidelity Investments

  • 3500 no-transaction-fee mutual funds
  • Operating expenses are subtracted from the fund’s annual returns
  • The usual transaction fee for mutual funds is $49.95

No Minimum Deposit Or Opening Fee

Some banks and brokers insist that you pay a non-refundable opening fee, or that you pay a minimum deposit that you receive back when your account is opened. Such fees and/or deposits are an indication of your intent to invest. Here are some companies that do not demand an opening fee or minimum deposit.

  • Capital One Investing
  • Firstrade
  • Merrill Edge
  • OptionsHouse
  • TD Ameritrade
  • TradeKing

No Inactivity Fees

There are plenty of banks and brokers that charge you a fee for having your investing account, or they charge a fee if you do not use your account with a certain number of months (usually 12). As of the time of writing, here are some brokers that do not charge inactivity fees.

  • Capital One Investing
  • Charles Schwab
  • E*TRADE
  • Fidelity Investments
  • Firstrade
  • Lightspeed Trading
  • Merrill Edge
  • OptionsHouse
  • Scottrade
  • TD Ameritrade
  • TradeKing

Capital One Investing

  • Flat-fee Trade Plan $6.95
  • Mutual Fund Trade Fee      $19.95
  • Options Trade Base            $6.95
  • Options Per Contract         $0.75
  • Options Exercise Fee         $20.00
  • Options Assignment Fee   $20.00
  • Broker Assisted Trades     $19.95
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds

+Account Features

  • Web Based Platform
  • No Minimum Deposit
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Android Tablet App
  • Mobile Site

+Banking Features

  • Checking Accounts
  • Savings Accounts
  • Credit Card Accounts
  • Debit Card Accounts
  • Mortgage Loans
  • No Fee Banking

Charles Schwab

  • Flat-fee Trade Plan             $8.95
  • Mutual Fund Trade Fee      $76.00
  • Options Trade Base            $8.95
  • Options Per Contract         $0.75
  • Options Exercise Fee         $8.95
  • Options Assignment Fee   $8.95
  • Broker Assisted Trades     $25.00
  • Minimum Deposit                $1,000.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • Futures Trading

+Account Features

  • Desktop Based Platform
  • Web Based Platform
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Mobile Site

+Banking Features

  • Checking Accounts
  • Savings Accounts
  • Debit Card Accounts
  • Mortgage Loans
  • No Fee Banking

E*Trade

  • Flat-fee Trade Plan             $9.99
  • Mutual Fund Trade Fee      $19.99
  • Options Trade Base            $9.99
  • Options Per Contract         $0.75
  • Options Exercise Fee         $19.99
  • Options Assignment Fee   $19.99
  • Broker Assisted Trades     $25.00
  • Minimum Deposit                $500.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • FOREX Trading
  • Futures Trading
  • +Account Features
  • Desktop Based Platform
  • Web Based Platform
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Android Tablet App
  • Mobile Site
  • +Banking Features
  • Checking Accounts
  • Debit Card Accounts
  • No Fee Banking

Fidelity Investments

  • Flat-fee Trade Plan             $7.95
  • Mutual Fund Trade Fee      $49.95
  • Options Trade Base            $7.95
  • Options Per Contract         $0.75
  • Options Exercise Fee         $7.95
  • Options Assignment Fee   $7.95
  • Broker Assisted Trades     $32.95
  • Minimum Deposit                $2,500.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds

+Account Features

  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Android Tablet App
  • Mobile Site

+Banking Features

  • Checking Accounts
  • Savings Accounts
  • Credit Card Accounts
  • Debit Card Accounts
  • No Fee Banking

Firstrade

  • Flat-fee Trade Plan             $6.95
  • Mutual Fund Trade Fee      $9.95
  • Options Trade Base            $6.95
  • Options Per Contract         $0.75
  • Options Exercise Fee         $16.95
  • Options Assignment Fee   $16.95
  • Broker Assisted Trades     $19.95
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds

+Account Features

  • Web Based Platform
  • No Minimum Deposit
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • Android App
  • Mobile Site

+Banking Features

  • Checking Accounts
  • Debit Card Accounts

Lightspeed Trading

  • Flat-fee Trade Plan             $4.50
  • Per-Share Trade Plan         $0.01
  • Options Trade Base            $0.00
  • Options Per Contract         $0.60
  • Options Exercise Fee         $15.00
  • Options Assignment Fee   $15.00
  • Broker Assisted Trades     $25.00
  • Minimum Deposit                $5,000.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Futures Trading
  • +Account Features
  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • No Inactivity Fees
  • Mobile Site

Merrill Edge

  • Flat-fee Trade Plan             $6.95
  • Mutual Fund Trade Fee      $19.95
  • Options Trade Base            $6.95
  • Options Per Contract         $0.75
  • Options Exercise Fee         $6.95
  • Options Assignment Fee   $6.95
  • Broker Assisted Trades     $29.95
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • +Account Features
  • Web Based Platform
  • No Minimum Deposit
  • No Inactivity Fees
  • iPhone App
  • iPad App
  • Android App
  • Mobile Site

+Banking Features

  • Checking Accounts
  • Savings Accounts
  • Credit Card Accounts
  • Debit Card Accounts
  • Mortgage Loans

OptionsHouse

  • Flat-fee Trade Plan             $4.95
  • Mutual Fund Trade Fee      $20.00
  • Options Trade Base            $4.95
  • Options Per Contract         $0.50
  • Options Exercise Fee         $4.95
  • Options Assignment Fee   $4.95
  • Broker Assisted Trades     $25.00
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • Futures Trading
  • +Account Features
  • Web Based Platform
  • Virtual Trading
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Android Tablet App
  • Mobile Site

Scottrade

  • Flat-fee Trade Plan             $7.00
  • Mutual Fund Trade Fee      $17.00
  • Options Trade Base            $7.00
  • Options Per Contract         $0.70
  • Options Exercise Fee         $17.00
  • Options Assignment Fee   $17.00
  • Broker Assisted Trades     $32.00
  • Minimum Deposit                $2,500.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds

+Account Features

  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Mobile Site
  • +Banking Features
  • Checking Accounts
  • Savings Accounts
  • Debit Card Accounts

TD Ameritrade

  • Flat-fee Trade Plan             $9.99
  • Mutual Fund Trade Fee      $49.99
  • Options Trade Base            $9.99
  • Options Per Contract         $0.75
  • Options Exercise Fee         $19.99
  • Options Assignment Fee   $19.99
  • Broker Assisted Trades     $44.99
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • FOREX Trading
  • Futures Trading
  • +Account Features
  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • No Minimum Deposit
  • No Inactivity Fees
  • No-Fee IRAs
  • iPhone App
  • iPad App
  • Android App
  • Android Tablet App
  • Mobile Site

+Banking Features

  • Checking Accounts
  • Credit Card Accounts
  • Debit Card Accounts
  • No Fee Banking

TradeKing

  • Flat-fee Trade Plan             $4.95
  • Mutual Fund Trade Fee      $9.95
  • Options Trade Base            $4.95
  • Options Per Contract         $0.65
  • Options Exercise Fee         $9.95
  • Options Assignment Fee   $4.95
  • Broker Assisted Trades     $20.00
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • FOREX Trading
  • Futures Trading
  • +Account Features
  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • No Minimum Deposit
  • No-Fee IRAs
  • iPhone App
  • Android App
  • Mobile Site

TradeStation

  • Flat-fee Trade Plan             $9.99
  • Per-Share Trade Plan         $0.01
  • Mutual Fund Trade Fee      $14.95
  • Options Trade Base            $0.00
  • Options Per Contract         $1.00
  • Options Exercise Fee         $14.95
  • Options Assignment Fee   $5.95
  • Broker Assisted Trades     $20.00
  • Minimum Deposit                $5,000.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • Futures Trading
  • +Account Features
  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • iPhone App
  • iPad App
  • Android App
  • Mobile Site
  • TradeKing

OptionsXpress

  • Flat-fee Trade Plan             $8.95
  • Mutual Fund Trade Fee      $9.95
  • Options Trade Base            $12.95
  • Options Per Contract         $1.25
  • Broker Assisted Trades     $0.00
  • Minimum Deposit                $0.00

+Trade Types They Offer

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • Bonds
  • Futures Trading
  • Penny Options
  • +Account Features
  • Desktop Based Platform
  • Web Based Platform
  • Virtual Trading
  • No Minimum Deposit
  • iPhone App
  • iPad App
  • Android App
  • Mobile Site

About The Author

Ben Todd

Ben was a seriously broke graduate student with bad credit who after finding himself rejected for any sort of credit card or loan for most of his adult life, finally decided to get his financial life in order. ‘

He spent several years reading as many financial advice books and blogs as he could.

And suprisingly, Ben found he actually LIKED the topic of personal finance; after fixing his own finances, starting his own successful work at home website business, and using his earnings to get out of debt, created echeck.org to help others do likewise!

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