The Top $0 Fee Brokerages
There are so many brokerages out there that it can be difficult to pick which one suits your needs. Well, we’ve taken the work out for you, and we have compiled a list of the top brokerages for you to choose from below.
| Company | Stock Trading | Options Trading | Mutual Funds Fees | ETF Fees | Account Fees | Minimum | Cons | Offers IRA? | Recurring Purchases? |
| Merrill Edge | $0 |
$0.65 per contract
|
$0 | $0 |
$49.95 full transfer fee, $49.95 closeout fees on retirement accounts
|
$0 | No futures or forex; no OTC penny stocks | Yes | Yes |
| Fidelity | $0 |
$0.65 per contract
|
$0 | $0 | None | $0 | No futures or forex; high fees for broker assisted trades | Yes | Yes |
| SoFi Active Investing | $0 | None |
Doesn't offer mutual funds
|
$0 |
$75 partial or full outgoing transfer fee
|
$0 | No margin lending; no mutual funds, options or foreign exchange; no penny or over-the-counter stocks; no trading platform; no margin lending; no individual bonds | Yes | Yes |
| E*Trade | $0 |
$0.65 per contract
|
$0 | $0 |
$75 transfer out fee; $25 partial
|
$0 | No forex trading; robo-advisor advisory fee | Yes | Yes |
| Interactive Brokers IBKR Lite | $0 |
$0.65 per contract
|
$0 | $0 | None | $0 | Requires a $10 minimum commission requirement | Yes | |
| Webull | $0 | $0 per contract | $0 | $0 | $75 transfer out fee | $0 | Can't trade forex, funds, bonds or futures | Yes | No |
| TD Ameritrade | $0 |
$0.65 per contract
|
$0 | $0 |
$75 transfer fee; $6.95 fee per trade for penny stocks
|
$0 | Doesn't offer direct cryptocurrency trades; futures fees are high | Yes | Yes |
| Robinhood | $0 | $0 per contract | N/A | $0 | $75 transfer fee | $0 | Can't trade mutual funds or bonds | No | Yes |
| Axos Self-Directed Trading | $0 |
$1.00 per contract
|
$9.95 per trade (no load)
|
$0 |
$75 transfer fee (including transfer of Roth to/from traditional IRA)
|
$0 | Some features require a subscription; can't trade bonds; $500 account minimum balance | Coming Soon | No |
|
JP Morgan Self-Directed Investing
|
$0 |
$0.65 per contract
|
$0 | $0 |
$0 per trade and a $75 transfer fee (partial or full)
|
$0 | No futures, crypyo or forex trading | Yes | No |
| Firstrade | $0 | $0 per contract | $0 | $0 |
$75 ongoing transfer fee (to another broker); $55 partial transfer fee
|
$0 | Only trade in U.S. markets; 8.8% margin rate; can't trade futures, forex or crypto | Yes | Yes |
| Vanguard | $0 | $1 per contract | $0 | $0 |
$20 annual fee for IRAs and brokerage accounts (can opt-out by opting into paperless statements)
|
$0 | No forex and futures trading; no access to cryptocurrency trading; designed for long-term retirement investors rather than active traders | Yes | Yes |
| Charles Schwab | $0 | $0.65 per contact | $0 | $0 |
$50 full transfer out fee; $25 partial
|
$0 | No forex; doesn't automatically sweep cash to money market | Yes | No |
| Ally Invest | $0 |
$0.50 per contract
|
$9.95 on no-load MFs | $0 |
$50 transfer fee, $50 IRA transfer fee, $25 IRA closing fee
|
$0 | Bonds, mutual funds, and other securities charge commissions | Yes | Yes |
