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If you’re going to be trading stocks, you should NOT be paying commissions on the stock trades you make. I mean why would you pay for something you can easily get for free?
The good news is there are plenty of online brokerage companies that offer free stock trading. Below, we’ll explore:
It wasn’t too long ago, that you’d have to pay a commission every time you bought or sold a stock. It could cost you $10, $20 or more. Those commissions add up and can take a big chunk out of your profits (or add insult to injury on your losses).
Over the last few years, however, brokerage accounts that offer free stock trades have become very common. Which makes it an awesome time to buy/sell stocks.
There are a bunch of lists you can find online of the “best” free stock trading sites. However, you have to be careful.
There are a number of smaller stock trading sites that offer juicy commissions for referrals. So if a site recommends a brokerage that offers a commission and you go and sign up with that brokerage, the site that referred you makes money off you.
Now, there are plenty of honest people out there who may genuinely believe in the stock trading sites they recommend. And, if they refer you to a stock trading site, they deserve to be rewarded.
However, just keep in mind that there’s a chance some sites’ recommendations are influenced by which brokerages offer the biggest referral fees.
(We do NOT earn a referral fee for any of the brokerage firms we recommend below. They are all ones we have used personally and believe are great options for investors and traders.)
Here are some things to look for before signing up with a brokerage firm:
All the companies listed below check all the boxes on the list above and then some. They are some of the largest, most respected brokerages in the world and all offer free trades (with no minimum account balances).
I’ve been using Fidelity for over a decade now and have been very happy with them (even happier since they started offering free online trading!). Great interface, great support. Plus they have physical locations around the US if you ever need to go see someone in person.
Another excellent option. They are well-known and regarded in the industry as having great trading tools, an easy to use interface and excellent customer service. They also have physical locations.
I’m not overly thrilled with E-Trade’s online interface. It’s a bit dated in my opinion. But it’s still a solid company and you can easily do what you need to do to trade your investments there.
TD Ameritrade is particularly popular with day and swing traders due to their charting and trading options. Charles Schwab bought TD Ameritrade in 2020. However, TD Ameritrade still operates its own separate stock trading site.