Best Brokers For Commission-Free Trading 2025
Dig into our exhaustively tested list of the top brokers for commission-free trading, made popular by the likes of Robinhood, but now available at various providers.
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1Interactive Brokers (IBKR) is a top brokerage firm offering access to 150 markets in 33 countries and a range of investment services. With 40 years in the field, this company listed on Nasdaq strictly follows the rules set by authorities such as the SEC, FCA, CIRO, and SFC. It's recognized as one of the most reliable brokers for global trading.
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2NinjaTrader is a US-based brokerage regulated for trading futures. It offers three different pricing plans for varied needs and budgets, along with extremely low margins on popular contracts. The company's renowned charting software and trading platform provides extensive customization options and excellent technical analysis features.
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3Established in 1999, FOREX.com is part of StoneX, a global financial services company that serves over a million customers. It's regulated in the US, UK, EU, Australia, and other countries. The broker offers a wide range of markets beyond forex and provides competitive pricing on advanced platforms.
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4OANDA is a well-known company that excels in quick trade executions, low deposit necessities, and impressive charting and trading platform functions. The highly-regarded brand has over 25 years of expertise and is overseen by reliable authorities like the NFA/CFTC. It provides 24/7 support for traders and offers flexible contract sizes with automated trade executions.
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5eToro is a platform for social investing that provides options for both short and long-term trading on stocks, ETFs, options, and crypto. The platform is recognized for its easy-to-use, community-oriented interface and reasonable fees. With oversight from FINRA and SIPC, and used by millions globally, eToro is a reputed name in the industry. Trading on eToro is facilitated by eToro USA Securities, Inc.
Top Commission-Free Brokers Comparison
| Broker |  |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | ✓ | $0 | $100 | 1:50 | ✗ | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF | Capitalise.ai & TWS API | ✓ | ✗ | |
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✓ | ✓ | $0 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Stocks, Options, Commodities, Futures, Crypto | NinjaTrader Desktop, Web & Mobile, eSignal | USD | NinjaScript or via Automated Trading Interface | ✗ | ✗ | |
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✓ | ✓ | $100 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Stocks, Futures, Futures OptionsForex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN | Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | |
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✓ | ✓ | $0 | 0.01 Lots | 1:50 | ✗ | NFA, CFTC | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) | OANDA Trade, MT4, TradingView, AutoChartist | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD | Expert Advisors (EAs) on MetaTrader | ✗ | ✓ | |
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✓ | ✓ | $100 | $10 | ✗ | ✓ | SEC, FINRA | Stocks, Options, ETFs, Crypto | eToro Trading Platform & CopyTrader | USD | ✗ | ✗ | ✗ | |
| Broker | |
USD Account |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best Brokers For Commission-Free Trading 2025 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✓ | ✓ | |
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✗ | ✗ | ✗ | |
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✗ | ✓ | ✗ | |
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✓ | ✗ | ✗ | |
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✗ | ✗ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Brokers For Commission-Free Trading 2025.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
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iOS & Android | ✓ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Brokers For Commission-Free Trading 2025 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $0 | $100 | ✓ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $100 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $100 | $10 | ✓ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Brokers For Commission-Free Trading 2025 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Capitalise.ai & TWS API | ✗ | ✗ | ✓ | ✗ | 1:50 | ✓ | ✓ |
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NinjaScript or via Automated Trading Interface | ✗ | ✗ | ✗ | ✗ | 1:50 | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✓ | ✓ | ✗ | 1:50 | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✗ | ✗ | 1:50 | ✓ | ✗ |
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✗ | ✗ | ✗ | ✗ | ✗ | ✓ | ✓ | |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Brokers For Commission-Free Trading 2025.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | USD: 4.8%, GBP: 4.7% | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |
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✓ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |
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✓ | USD: 4.9% | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Brokers For Commission-Free Trading 2025 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Brokers For Commission-Free Trading 2025.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | $0 | 0.003 | 0.08-0.20 bps x trade value | 0.12%-0.18% | |
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✗ | $25 | 1.3 | Floating | ||
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✗ | $15 | 0.14 | 1.2 | BTC 1.4%, ETH 2% | |
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✗ | $0 | 1.6 | $100 | ||
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✓ | $10 | $0 | BTC 0.75% | ||
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best Brokers For Commission-Free Trading 2025 are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Interactive Brokers |
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| eToro USA |
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| NinjaTrader |
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| FOREX.com |
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Why Trade With Interactive Brokers?
Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.
Pros
- IBKR is a highly regarded brokerage, regulated by prime authorities. This ensures the safety and reliability of your trading account.
- The new IBKR Desktop platform combines the advantages of TWS and adds unique tools like Option Lattice and Screeners with MultiSort to make trading accessible and impressive for traders of all levels.
- IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
Cons
- Customer service may take time to respond, and there may be delays in fixing problems based on tests. It could be difficult to reach the customer service promptly.
- IBKR offers many research tools. However, the tools are not uniformly distributed across trading platforms and the web-based 'Account Management' page, causing confusion for the users.
- TWS's platform may be difficult for beginners to grasp because of its complexity. Plus500's web platform, on the other hand, is more appropriate for those new to trading.
Why Trade With NinjaTrader?
NinjaTrader consistently satisfies active futures traders with its low-cost service and high-quality analysis tools. It offers superior charting features, including hundreds of indicators and over 10 chart types.
Pros
- You can access thousands of applications and add-ons from developers worldwide for trading.
- NinjaTrader provides detailed charting software for active traders, complete with custom technical indicators and widgets.
- NinjaTrader is a well-regarded and acclaimed futures broker, approved by the NFA and CFTC.
Cons
- You need to register with partner brokers to trade in securities other than forex and futures.
- Some payment methods require a withdrawal fee.
- The advanced trading tools require an additional fee.
Why Trade With FOREX.com?
FOREX.com is a top-tier brokerage suitable for forex traders of all skill levels. It offers more than 80 currency pairs, has small spreads starting from 0.0 pips, and features low fees. The platform provides powerful charting tools that include over 100 technical indicators and multiple research aids.
Pros
- FOREX.com has over 20 years of experience with strong regulatory oversight, and has received multiple awards, including second place in our 'Best Forex Broker' awards. As such, FOREX.com is globally reputed as a reliable trading brokerage.
- Numerous educational materials such as tutorials, webinars, and a comprehensive YouTube channel are available to assist you in learning about the financial markets.
- FOREX.com provides a selection of top trading platforms and additional features. These include Trading Central research, a SMART Signals pattern scanner, trading signals, and strategy builders.
Cons
- Demo accounts have a limited time duration of 90 days, which may not be sufficient for thoroughly testing trading strategies.
- FOREX.com's MT4 platform provides around 600 instruments for trading, which is considerably less than the 5,500+ options accessible on its other platforms.
- US clients do not have negative balance protection, so you can potentially owe more than your original account deposit.
Why Trade With OANDA US?
OANDA is a reputable broker for US traders. It offers user-friendly tools for analysis and a simple sign-up process. It is very trustworthy due to heavy regulation.
Pros
- There's a robust selection of 68 currency pairs for committed forex traders focusing on short-term trades.
- The broker's API provides access to extensive historical data from the past 25 years and rates from over 200 currencies for traders.
- The broker provides clear pricing without any concealed fees.
Cons
- The trading markets are limited to only forex and cryptocurrencies.
- Few payment options are available and e-wallets are not supported.
- Customer support is not accessible during weekends.
Why Trade With eToro USA?
eToro is a top choice for traders due to its top-notch social investing and copy trading services. The broker caters well to new traders with its low deposit requirement, commission-free trading, and user-friendly platform.
Pros
- The broker's Academy provides extensive educational resources for traders, ranging from beginners to advanced levels.
- Traders can use Smart Portfolios for a simpler approach, covering multiple sectors and markets like renewable energy and artificial intelligence.
- A free demo account enables new users and potential traders to test the broker without risk.
Cons
- The exclusive terminal does not accommodate trading bots and lacks extra equity market analysis tools.
- Average fees can reduce the profits of traders.
- There are fewer trading options available, including only stocks, ETFs, and cryptos, compared to competitors.
Filters
How We Chose the Best Commission-Free Brokers
To identify the best brokers for commission-free trading, we conducted an evaluation based on over 200 data points for each provider, combined with hands-on testing by our experts.
Our rankings prioritized brokers that offer true commission-free trading with no hidden fees, ensuring cost-effective access to the markets.
We also assessed key factors such as platform features, regulatory oversight, and overall user experience to ensure traders get the best combination of zero-commission trading and a seamless investing experience.
Note, commission-free trading may only be available on certain assets and account types at listed providers.
What to Look For in a Top Broker With Commission-Free Trading
When choosing the best broker to use for commission-free trading, you need to pay particular attention to the five following things:
Regulatory Status
This should be the first thing on any trader’s checklist, regardless of the type of brokerage you wish to employ.
The booming popularity of online trading has led to an explosion in the number of fraudulent operators and brokers engaging in poor business practices.
Unsuspecting traders frequently see unscrupulous businesses and individuals disappear with their cash and reams of personal data.
Investors can protect themselves by ensuring the commission-free brokerage they choose is authorized by a respected global regulator. Great examples include the US Securities and Exchange Commission (SEC), and the UK’s Financial Conduct Authority (FCA).
Pro tip: Regulators often publish a list of licenced trading platforms – as well as a ‘warning list’ of disreputable parties – to help individuals avoid getting caught out.
FOREX.com is one of the most well-regulated commission-free brokers based on our tests, boasting licenses from 10 top-tier financial bodies, including the CFTC, NFA, and FCA.
Fee Structure
We’ve found that commission-free brokers often try to claw back the money they ‘lose’ by not charging transaction fees in other ways. For frequent traders, this can lead to higher dealing costs than they’d otherwise incur by using a brokerage that charges per trade.
As well as billing customers to deposit and withdraw cash, commission-free brokers can also slap fees on inactive traders, clients who wish to use margin, and traders who buy and sell assets that are denominated in particular currencies.
As a result, it’s important to look at all trading costs and consider how they will impact your profitability based on your trading style.
Expert take: Some commission-free brokers also only offer $0 charging fees on particular assets. IG, for instance, doesn’t charge traders for buying and selling US, European and Australian shares, but bills for transactions involving UK equities.
IG web platform
Trade Execution
Being able to execute orders rapidly is critical for all investors and traders. But with many commission-free brokers using payment for order flow (PFOF) to bump up revenues, buying and selling smoothly and cost effectively can be severely compromised.
The problem can be especially severe in fast-moving markets such as forex. In the worst case, the cost of buying or selling a security at a worse price than expected can eliminate the advantage of avoiding commission charges.
Individuals should therefore closely observe how effectively and reliably a trading platform carries out their trades.
Interactive Brokers can be an attractive option for traders in this regard, as it doesn’t engage in PFOF in certain account types.
Product Range
The range of tradeable assets can differ significantly across brokers so check the instruments you want to trade without commissions are supported.
This may not be an issue for focused traders, but those who wish to trade a variety of securities to build a diverse portfolio may find themselves severely restricted.
In general, you can trade a wide variety of markets commission-free, including:
- Stocks
- Forex
- Bonds
- Exchange-traded funds (ETFs)
- Cryptocurrencies
- Derivatives (like futures contracts and contracts for difference (CFDs))
Pro tip: Some commission-free brokers facilitate the trading of fractional shares, instruments that allow individuals to gain exposure to expensive stocks with just a few dollars.
eToro still provides commission-free trading on ETFs, including via its CopyTrader and Smart Portfolios. However, stocks now incur a small commission depending on your location and the stock exchange.
Trading Tools
Growing competition has created an arms race amongst brokers as to who can offer the best trading platform and the greatest selection of tools and other resources.
The best one may simply come down to personal preference, like a platform’s appearance. But other differences may be more consequential. For instance, if trading on the go is essential, we’ve found providers like Moomoo optimal because it offers excellent app-based trading.
Moomoo Platform
FAQ
What Is a Commission-Free Trading Broker?
A broker that provides commission-free trading allows the buying and selling of financial securities without paying transaction fees. This can have significant advantages for high-volume traders, and those who wish to make low-value transactions.
Yet while this can have significant cost advantages for traders, you need to beware of other potential steep costs and order execution delays.
The number of commission-free brokers has grown sharply after the first one – Robinhood – opened for business in the early 2010s.
What Are the Risks of Using a Commission-Free Broker?
There’s no such thing as a ‘free lunch,’ and many commission-free operators can make their money back in other ways. They can charge withdrawal or deposit fees, for instance, and their bid-offer spreads can also be wider than those of conventional brokers.
Commission-free brokerages also routinely sell their customers’ trade orders to market makers instead of routing them directly to an exchange.
This process, known as payment for order flow (PFOF), can result in higher buying and lower selling prices, as well as delays to order execution.