The Best Trading Apps with Low Brokerage Fees for Active and Beginner Traders
When it comes to mobile trading apps offering the lowest brokerage fees, the best option really depends on your region, the type of assets you want to trade (stocks, options, forex, etc.), and your trading frequency. In this article, we’ll explore some of the most popular trading platforms with low or zero commission fees that are widely used by traders around the globe.
Robinhood
Best for U.S. Users
Brokerage Fees: Zero commission for stocks, ETFs, options, and cryptocurrencies. Features: A user-friendly interface designed for beginners, no account minimums, and free stock trading. Extended hours trading pre-market and after-hours. Best For: Beginner traders who want to avoid fees and don’t require advanced research tools.Webull
Best for U.S. Users
Brokerage Fees: Zero commission on stocks, ETFs, and options trading. No account maintenance fees. Features: Advanced trading tools for more experienced traders, free real-time market data and research, paper trading feature for practicing without risk, no fees for extended hours trading. Best For: Intermediate and advanced traders who want robust charting tools, technical analysis, and low-cost trades.Freetrade
Best for UK and European Users
Brokerage Fees: Zero commission for basic trades, limited to a few stocks, but premium features and more extensive stock choices may have a small fee. Features: A simple interface and user-friendly for easy-to-use, invest in UK and U.S. stocks, ETFs, and some international shares, offers fractional shares in popular U.S. stocks, limited research tools for traders. Best For: UK-based investors who want simple, commission-free trading with access to global stocks.MooMoo
Best for U.S. and Global Users
Brokerage Fees: Zero commission for stocks, ETFs, and options trading, some fees may apply for certain transactions or exchanges. Features: Advanced charting and analysis tools, free level 2 market data and other research features, access to extended-hours trading, no minimum balance required. Best For: Active traders who seek advanced tools but still want to keep their trading costs low.TD Ameritrade
Best for U.S. Users Seeking Robust Tools
Brokerage Fees: Zero commission for stocks, ETFs, and options trades, though options have a small contract fee of 0.65 per contract. Features: Extensive educational resources, webinars, and research tools, advanced trading platform. Best For: Long-term investors or active traders who want access to deep market research and trading tools.Charles Schwab
Best for U.S. Investors Seeking Stability
Brokerage Fees: Zero commission for stocks, ETFs, and options, options trades include a small fee of 0.65 per contract. Features: A well-established brokerage with a wide range of research tools, free stock trading, fractional shares, large variety of ETFs, no account minimums, strong customer support. Best For: Beginners and long-term investors looking for stability and comprehensive educational resources.Interactive Brokers (IBKR)
Best for Advanced Traders and International Investors
Brokerage Fees: Extremely low commissions, starting from 0.005 per share with a minimum of $1 per trade. Features: Access to a wide range of global markets and asset types, excellent for day traders, professionals, and international traders, advanced research and trading tools, offers both fixed and tiered commission structures. Best For: Advanced traders who trade frequently or globally and require low commission rates.eToro
Best for Global and Social Traders
Brokerage Fees: Zero commission for stocks but there is a small spread on some assets, especially in forex and crypto trading. Features: A social trading platform allowing you to copy the trades of successful traders, access to stocks, ETFs, and cryptocurrencies, no account minimums or inactivity fees. Best For: Beginners and social traders who want to follow and copy professional traders’ strategies.Acorns
Best for Passive Investors
Brokerage Fees: No commission for ETF and index fund investments, accrues a small fee based on your plan, starting at $3/month for individual accounts. Features: Primarily a robo-advisor with round-ups for micro-investing, auto-invest into diversified portfolios, great for long-term passive investors. Best For: Investors looking to grow their wealth passively through low-cost ETF investments.SoFi Invest
Best for New Investors in the U.S.
Brokerage Fees: Zero commission for stocks, ETFs, and cryptocurrencies. Features: A simple mobile app with no minimum balance requirements, access to stock trading, ETFs, and fractional shares, offers automated investing and cryptocurrency options, provides educational tools and insights for beginners. Best For: New investors seeking an easy-to-use platform for stock and crypto trading with no commissions.Conclusion
The best trading app for you heavily depends on your individual needs, but here are some suggestions:
For Zero-Commission Stock Trading: Robinhood, Webull, MooMoo (U.S.), and Freetrade (UK/EU) For Active Traders: Interactive Brokers and TD Ameritrade, U.S. offer low commissions, advanced tools, and international market access For Global Access: eToro is great for international trading and social trading, with a zero-commission model for stocks For Beginners: SoFi Invest and Acorns are ideal for those who want to start with minimal costs and hands-off investment approaches.Remember, it is crucial to consider the trading fees, platform features, and educational resources available on each app to choose the one that fits your needs.