For investors focused on maximizing returns, cost matters. Whether you’re trading a few times a year or rebalancing a diversified portfolio regularly, high fees can quietly eat away at your gains. The good news is, the era of expensive commissions is largely behind us. Today’s discount brokers combine zero-commission trading with strong platforms, solid research and broad asset access – making it easier than ever to invest cost-effectively without sacrificing quality.
These are the best discount stock brokers selected based on their pricing transparency, platform quality, available investment options and overall value to investors. From long-term retirement savers to active traders looking to reduce execution costs, these brokers help make investing more efficient and affordable.
How We Chose the Best Discount Stock Brokers
We evaluate brokerage platforms based on six key factors:
- Commission structure and pricing transparency: We prioritized brokers with low or zero-cost trading across stocks, ETFs and options, along with minimal hidden fees.
- Platform usability: Mobile and desktop functionality must be intuitive, fast and beginner-accessible.
- Account options: Platforms must offer a range of account types, including IRAs and taxable accounts.
- Customer service quality: Reliable support through multiple channels remains essential even at low cost.
- Asset class availability: While focused on stock trading, we factored in access to ETFs, options and in some cases, crypto.
- Educational resources: Platforms that empower users through research, guides and tutorials scored higher.
Best Discount Brokers
Each of the brokers below offers low-cost trading with unique strengths from research tools to platform design so you can choose the one that best fits your investing style and goals.
Fidelity – Best for Long-Term Discount Investing
- Best For:Stock ResearchVIEW PROS & CONS:securely through Fidelity Investments's website
Fidelity consistently ranks as one of the best overall brokers due to its combination of zero trading fees, no account minimums and institutional-grade research tools. Despite being a full-service firm, Fidelity competes aggressively on pricing and offers better-than-average value for investors at every level.
The platform is designed with long-term investors in mind, offering access to thousands of mutual funds and index funds, many of which have zero expense ratios. Its desktop and mobile platforms are streamlined, intuitive and supported by deep educational content and market analysis. Fidelity also includes strong retirement planning tools, calculators at no extra cost.
Key Features:
- Fees: $0 commissions on U.S. stocks, ETFs and options ($0.65 per options contract)
- Investment Access: Stocks, ETFs, mutual funds, bonds, options
- Platform Experience: Modern desktop and mobile apps with integrated research
- Education: Webinars, tools for retirement and college planning and live support
- Drawbacks: May be more feature-rich than necessary for very casual investors
Charles Schwab – Best for Research at a Discount
- Best For:Fund InvestingVIEW PROS & CONS:securely through Charles Schwab's website
Charles Schwab offers a low-cost trading environment without cutting back on features, making it an ideal choice for cost-conscious investors who still want professional-level insights, resources. The broker offers $0 stock and ETF trades, $0 account minimums and educational tools tailored to all experience levels.
Its in-house research is supported by Morningstar, CFRA and Schwab Equity Ratings. With access to a broad selection of investments and a newly integrated thinkorswim platform (following its acquisition of TD Ameritrade), Schwab is particularly appealing to those who want to scale their strategy without scaling their costs.
Key Features:
- Fees: $0 on U.S. stocks, ETFs and options ($0.65 per contract)
- Investment Access: Equities, mutual funds, bonds, options, futures
- Platform Experience: Full-featured web platform, mobile app and access to thinkorswim
- Education: Interactive courses, live workshops, third-party research
- Drawbacks: Some tools may be more complex than needed for beginners
Robinhood – Best for Beginner-Friendly Free Trading
Robinhood helped spark the zero-commission revolution and it remains a top choice for investors looking for simple, mobile-first access to markets with no trade fees. While it doesn’t offer the depth of research or asset variety found in larger platforms, Robinhood excels in streamlined usability and accessibility.
Its app is fast, minimalist and offers instant account setup and fractional share investing. Users can also trade options and crypto alongside stocks with no commissions. Research tools are limited, educational content is fairly basic.
Key Features:
- Fees: $0 for stocks, ETFs and options (no contract fees); no account minimum
- Investment Access: Stocks, ETFs, options, crypto, fractional shares
- Platform Experience: Clean, mobile-first design with simple navigation
- Education: Basic educational content; Robinhood Gold adds limited research ($5/month)
- Drawbacks: Lacks deeper analytical tools and support for mutual funds or fixed income
Webull – Best for Technical Traders on a Budget
Webull is a zero-commission platform geared toward data-driven investors. It supports stock, ETF and options trading with no base fees and its interface features professional-grade charts and indicators typically found on paid platforms.
Webull is a great value for traders who want more control over their trades but don’t want to pay for a premium platform. Its tools include extended-hours trading, real-time data feeds, customizable technical setups. Users should note the platform is better suited to self-directed investors and offers limited advisory or financial planning services.
Key Features:
- Fees: $0 for U.S. stocks, ETFs and options (no per-contract fee)
- Investment Access: Stocks, ETFs, options, crypto
- Platform Experience: Advanced charting, mobile and desktop apps with Level II data (optional)
- Education: Basic tutorials, in-platform news and earnings calendar
- Drawbacks: Limited account types (no joint or 529 accounts); minimal advisory tools
SoFi Invest – Best for Integrated Financial Services
- Best For:IPO InvestingVIEW PROS & CONS:securely through SoFi Active Invest (Brokerage)'s website
SoFi Invest offers zero-fee stock and ETF trading in a clean, easy-to-use interface that’s ideal for newer investors or those already using SoFi for banking or student loans. What sets SoFi apart is its integrated financial ecosystem offering users one platform for saving, spending and investing.
Investors can access automated portfolios (robo-advising), trade crypto, invest fractionally. While SoFi’s trading tools are limited compared to more advanced platforms, its overall value is high for casual investors seeking simplicity and integration with other financial services.
Key Features:
- Fees: $0 commissions on stocks, ETFs and crypto; no account minimums
- Investment Access: Stocks, ETFs, crypto, fractional shares, automated portfolios
- Platform Experience: User-friendly mobile and web apps with goal-based investing
- Education: Beginner-oriented articles, calculators and member perks
- Drawbacks: No access to options, mutual funds or advanced research tools
Merrill Edge – Best for BofA Customers Seeking Low-Cost Trading
- Best For:Bank of America CustomersVIEW PROS & CONS:securely through Merrill Edge's website
Merrill Edge combines low-cost trading with direct integration into Bank of America’s digital ecosystem, offering a smooth experience for existing BofA clients. It’s particularly appealing for investors who want to manage banking and investing under one roof.
With $0 stock and ETF trades, solid research tools from Morningstar and BofA Global Research, personalized dashboards, Merrill Edge provides good value. Customers in the Preferred Rewards program also benefit from higher interest rates and potential fee discounts.
Key Features:
- Fees: $0 for U.S. stocks, ETFs and options ($0.65 per contract); no account minimum
- Investment Access: Equities, mutual funds, ETFs, bonds, options
- Platform Experience: Integrated account access through Bank of America
- Education: Proprietary research, portfolio analysis and goal-planning tools
- Drawbacks: Less advanced trading functionality than brokers like Webull or Schwab
Why Lower Fees Don’t Mean Lower Quality
There was a time when cheaper trading meant sacrificing tools, support or product access. That’s no longer true. Today’s discount brokers offer sophisticated tools, powerful platforms and extensive educational content, often at no cost. From fractional share investing to AI-backed portfolio analysis, low fees no longer signal low value.
Still, cost savings alone don’t guarantee success. What matters is how a platform’s features align with your strategy. If you’re a passive investor, you might value simplicity and free index funds. Active traders may look for low spreads and execution speed. Beginners, meanwhile, benefit from educational tools and clean interfaces. The best discount brokers meet these needs without forcing you to pay for extras you don’t use.
Invest Smarter by Paying Less
Discount brokers have made investing more accessible than ever. Fidelity and Schwab lead for long-term investors wanting low fees and full-service support. Robinhood and Webull offer lean platforms with zero-cost trading for active or mobile-focused users. SoFi and Merrill Edge give added value through financial integration and personalized support.
Choosing the right broker is about more than cost, it’s about finding the best value for how you invest. Match your platform to your goals and you can trade with confidence while keeping more of your returns.
Frequently Asked Questions (FAQ)
What is a discount broker?
A discount broker offers low or zero-commission trading services, usually through online platforms, without the full advisory services of a traditional broker. These platforms often focus on self-directed investors who want to trade independently at minimal cost.
Are discount brokers safe to use?
Yes. Reputable discount brokers are regulated by the SEC and FINRA and often provide SIPC insurance coverage for your assets. Always check a broker’s credentials before opening an account.
Do discount brokers offer retirement accounts?
Most major discount brokers like Fidelity, Schwab and SoFi offer retirement accounts, including IRAs, Roth IRAs and SEP IRAs. These accounts often include the same low-cost features as taxable brokerage accounts.
