Free trading accounts

The app takes the spare change you've got from linked debit or credit cards to invest in commission-free etfs.

Top-3 forex bonuses

7 Best Free Stock Trading Platforms, free trading accounts.

There are no fees for inactivity. Because of their wide selection of the commission-free etfs and mutual funds, schwab is a strong contender for free stock trading.

7 best free stock trading platforms

Thanks to the rise of fintech, investors now have the option to buy and sell stocks online or through mobile apps - and often free of charge.

There are dozens of trading apps and platforms that allow investors to invest cash in a variety of securities with minimal to no fees. With the increase in choices, here are the best free stock-trading platforms and how they compare.

7 best free stock trading platforms

Whether you're a beginner investor or have been playing the market since before the last recession, free stock trading platforms and apps provide a great opportunity to maximize your returns and keep trading easy and simple.

These investment platforms are top-notch.

1. E*TRADE

Although E*TRADE (ETFC) - get report accounts aren't always free, there are some promotions and accounts that allow investors to invest for free. Currently, E*TRADE is having a promotion when you open a new account. The promotion offers 60 days of commission-free trading for up to 500 trades with a minimum deposit of $10,000 or more.

The site offers 24/7 customer service, easy mobile trading, data and research information, and has trading vehicles that range from etfs to options. And while E*TRADE's commissions usually hit just under the $7 mark for normal (nonpromotional) trades, the site is still very popular for its ease of use and retirement services.

2. Robinhood

The free stock trading app has seen a meteoric rise in popularity in recent years, accumulating 6 million users in 2019 - and with good reason. Robinhood seems to be the darling of commission-free trading - as a fintech startup founded by baiju bhatt and vlad tenev in 2013 with their free stock trading model.

Although there has been some speculation over how robinhood makes money (given their free trading model), the app is very popular for its easy, free trading and variety of investment vehicles - including options and even cryptocurrency.

To get started, you simply have to submit an application to robinhood and meet a few basic requirements (although if you are planning to participate in options trading, additional requirements are necessary) - with no account minimum. As a bonus, there are no maintenance fees.

As somewhat of a drawback, robinhood doesn't currently allow fractional investing (you can only buy whole shares). But for its cost-efficiency and easily-accessible app format, robinhood is clearly a crowd favorite for a reason.

3. Charles schwab

Ideal for investors looking to get into etfs, charles schwab (SCHW) - get report has an impressive array of 200 etfs to choose from, all commission-free. And, as a bank and stockbroker all-in-one, the schwab app is a great one-stop-shop for investors.

Schwab also has no-transaction-fee mutual funds, with around 4,000 available. Their regular trades will set you back around $5 apiece. There is no minimum balance requirement (although normal accounts typically come with a $1,000 minimum).

Because of their wide selection of the commission-free etfs and mutual funds, schwab is a strong contender for free stock trading.

4. Acorns

If you're a beginner investor looking to make money in stocks, acorns is the perfect introductory stock trading app.

Acorns specializes in micro-investing - that is, investing your spare change in stocks. There is no minimum to create an account, but there is a $5 minimum to start investing.

The app takes the spare change you've got from linked debit or credit cards to invest in commission-free etfs. There are no fees for inactivity.

5. Vanguard

Boasting around 1,800 commission-free etfs (just shy of robinhood's 2,000,) vanguard offers a wide selection of free trading options. The platform offers over 3,000 transaction-free mutual funds to boot - including S&P 500 index funds.

The trading platform doesn't have a minimum account requirement, but they do charge $20 a year for a service fee.

6. TD ameritrade

Much like E*TRADE, TD ameritrade (AMTD) - get report offers a free trading promotional if you open an account. You can get up to 60 days of commission-free trading for options, etfs and other equities, as well as up to $600 if you deposit $3,000 or more.

And even when the 60 days runs out, trades average about $6.95 a trade - on par with several other competitors. But TD ameritrade also offers over 300 commission-free etfs, and hundreds of transaction-fee-free mutual funds to choose from.

As one of the biggest online trading platforms, TD ameritrade offers a variety of top-notch services including research, data, and information on stocks as well as cash management, among others.

7. M1 finance

M1 finance does things a bit differently (think: customization.)

In addition to being completely commission-free and fee-free, M1 finance allows investors to invest in fractional shares as small as one penny. And, what makes M1 finance different is it allows users to create "pies" - that is, pie graphs that are comprised of a variety of etfs, stocks, and bonds. The app also allows users to choose different kinds of pies based on their investment needs and risk tolerance.

Although there is a $100 minimum for investing, the app allows for total customization of your own portfolio, and offers different kinds of "pies" from moderate to "ultra-aggressive" or "market cap 100."

For a completely free, zero-commission stock trading app, M1 finance seems to offer a pretty good deal for the DIY investor.

The bottom line

So, which free stock trading platform is best for you?

While some platforms like TD ameritrade and E*TRADE only offer short-term free stock trading services through promotions or new accounts, they do offer some industry-leading services that may be worth the extra cost you'll incur when your trial run ends.

However, for the investor who wants a truly free stock trading experience, robinhood, acorns and M1 finance offer a formidable range of services and offerings - even including cryptocurrency and options. And, as trading is increasingly becoming mobile, these app-focused companies are optimized to provide a solid, easy-to-use trading experience from the comfort of your ios or android-enabled device.

Still, as always, it is important to examine your personal investment goals and be realistic about how much you are willing to pay for extra services (if you do opt for one of the bigger brokerage names). But thanks to the surge of fintech companies in recent years, there are plenty of investment options that offer free stock trading services that can help grow your returns - all with the touch of a button.

Best free stock market simulators

Dan schmidt

Contributor, benzinga

“practice makes perfect” rings true when you’re trading, especially if you’re looking for the best stock trading simulator. The best traders all practice with paper money before putting any real capital at risk. Here’s what you need to know.

Learn to beat the market with warrior trading's market simulator

Warrior trading’s new WT simulator platform is a real-time trade simulator with a powerful learning device. With warrior trading’s simulator, you will see how your trades would do in the current market conditions, as opposed to relying on historical data of past stock trades.

Best stock market simulators:

Take a look at benzinga’s top picks:

Best overall: thinkorswim by TD ameritrade

Best for day trading bear bull traders simulator– get 20% off lifetime memberships with BENZINGA20 at checkout

Best for intermediate traders: tradestation

Best for new investors: warrior trading

Best for paper trading: ninjatrader free trading simulator

What’s a stock market simulator?

Ever play madden for xbox or playstation? Pretty much every football fan has simulated the NFL experience on a video game console. While playing virtual games won’t make you a better football player, it might make you a better stock trader. Paper trading allows novice investors to simulate the stock market experience by buying stocks and assets with fake cash.

With $100,000 in pretend capital, you can build a portfolio and test strategies without taking on any real risk. Want to see how different strategies work together? You might not be willing to take the risk if your own money is a stake. If it’s monopoly money, though, you’ll be more inclined to explore, take chances and learn from mistakes if your trades go wrong.

The goal of paper trading is to improve. You’ll learn to better identify chart patterns and trends and you might even feel a little pang of pain when one of your pretend trades blows up. Some paper trading platforms are connected to online brokerages, which means you need a real trading account to dabble in fake money. But most simulators can simply be downloaded and “funded” instantly and trading begins whenever the market opens.

Key qualities of the best stock market simulators

The top stock market simulators chosen by benzinga share a few common traits:

They closely resemble the actual market. You want an authentic stock trading experience when paper trading, so simulators must feel like the real thing. Buying and selling stocks in real time is important, so it’s important to have access to more advanced securities and order types.

Many securities are available. Buying and selling stocks is fun, but you might want to test some more conservative strategies such as buying and holding etfs and mutual funds. A good stock market simulator will let you trade triple-leveraged etns and hold mutual funds for 40 years.

Useful research tools and stock charts are included. What good is trading if you can’t do any research? Stock charting tools are a necessity for any (real or fake) trading platform, and it doesn’t hurt to have access to conference calls, news reports or economic data, either.

Best stock market simulators

We’ve ranked the best stock market simulators. All of them offer terrific platforms, but the top selections on this list will have all the features an advanced trader can ask for.

Free simulation accounts

The stock market is a historic enterprise and tends to stick to traditional methods and descriptions. Unlike other forms of modern trading such as cfds, binary options or forex, where brokers offer ‘demo’ accounts, stockbrokers use the term ‘paper trading’. Some of them still only provide printable paper practice sheets, rather than the digital versions we are perhaps more accustomed.

Fortunately, those stockbrokers with a more modern outlook are seeing the benefit of allowing clients to try out their services before investing and what better way than by offering them a simulation or demo version of the trading platform. Trials are usually made available for 30 to 90 days for new clients, offering you a valuable opportunity to get a feel for the broker before investing.

It is quite easy for a beginner to get confused by all of the different terminology and principles, let alone trying to find a stockbroker that is suited to their needs. By reading our extensive stockbroker review pages, you will find plenty of helpful information about safe and reliable brokers and what they can offer you as a retail investor.

In this article, you will learn:

Top rated stocks sites

Risk warning: the products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad disclosure: some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.

The right demo simulator

Some stockbrokers offer demo, simulated or paper trading accounts. The concept behind this being to provide you (as a potential client) a way to try your hand at stock trading without risking capital.

How easy is it to use

The answer to that question varies a substantial amount between different stockbrokers. As we have explained, some traditional brokers expect you to do your homework using real paper rather than by digital means! Others offer the opportunity to observe other traders and some of the most forward-thinking stockbrokers will allow you to trial a digital platform, but often this will not be equivalent to their ‘real’ trading platform.

Is it time-limited

Generally speaking, the answer to that would be yes. That is because stockbrokers have higher expectations of their potential clients’ knowledge of the stock market than brokers who offer more commonplace types of retail trading. Many stockbrokers will expect you to be verified as financially suitable before they will allow you to open an account and may offer a 30 to 90-day ‘trial’ period before expecting a commitment.

Compare features

There are stockbrokers out there who offer demos and simulations that portray the stockmarket in ‘real-time’ and give you a genuine opportunity to make decisions and try out various strategies using virtual currency. However, others just intend to give you a general idea of how the stock market operates, which means they may display delayed or even historic data. In most cases, the availability of information is likely to be limited to you in one way or another.

What are the costs

A simulated paper account is not something that a reputable broker would charge for and there is a good reason for that. Before you can access the intimate workings of a stockbroker’s online system, you will have to sign up for an account. This will involve extensive verification of your financial details, including your proven income and net wealth. One reason why we urge you to peruse our broker reviews before you begin that process. If keeping your trading costs to a minimum is high on your list of priorities then you should research free and low-cost stockbrokers.

Online trading

Buy and sell securities using a wealth of research and advanced tools on our intuitive trading website.

Why trade online with fidelity

Competitive online commission rates

Free, independent research from 20+ providers

Margin, short selling, and options trading tools

Features & benefits

Advanced tools and services

Accounts with online trading

Features & benefits

Pay $0 commission for online U.S. Stock, ETF and options trades, plus $0.65 per contract for option trades.

Get an overview of what’s happening right now in specific markets and sectors, and read news and analysis to help you understand the short- and long-term impact.

Dig into the details with research reports on 4,500+ stocks from more than 20 independent, third-party research firms.

Evaluate your investing ideas using the accuracy-weighted equity summary score provided by starmine.

Take advantage of stock screen strategies from independent third-party experts to research stocks, etfs, and options, or create your own screens using over 140 custom filters.

Create real-time watch lists to track stocks that interest you.

Set alerts to receive balance updates, trade notifications, market news, or stock research messages via email and our mobile apps.

Track real-time profit and loss information on every trade.

Advanced tools and services

Set trailing stops and conditional orders ahead of time to help manage risk and maximize profits.

Monitor, trade, and manage up to 50 stocks as a single entity using basket trading.

Explore advanced account features including margin, short selling, and options trading.

Qualified customers can take advantage of our active trading software to get streaming quotes, directed trading, and more.

Invest in multiple bonds with staggered maturities to help provide a consistent income stream and hedge against interest rate risk.

Compare bonds by coupon rates, yields, call dates, and ratings.

Using up to 10 years of daily historical data, test strategies before you invest. Save strategies and manage trade alerts.

Accounts with online trading

Explore the details of this full-featured brokerage account, consistently rated among the best in the industry.

Pay no taxes on your gains within an IRA until you take withdrawals.

View all of your brokerage account choices including trusts, the fidelity account for businesses, custodial accounts, and more.

Next step

Questions?

Get our free mobile app

Keep up with the changing markets, research, trade, & more, wherever you are.

Fidelity was just rated best online broker in 2020 by barron’s 1 and investor’s business daily 2 .

Research investments

$0.00 commission applies to online U.S. Equity trades, exchange-traded funds (etfs), and options (+ $0.65 per contract fee) in a fidelity retail account only for fidelity brokerage services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an options regulatory fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See fidelity.Com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through fidelity clearing & custody solutions ® are subject to different commission schedules.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read characteristics and risks of standardized options. Supporting documentation for any claims, if applicable, will be furnished upon request.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

The equity summary score is provided for informational purposes only, does not constitute advice or guidance, and is not an endorsement or recommendation for any particular security or trading strategy. The equity summary score is provided by starmine from refinitiv, an independent company not affiliated with fidelity investments. For more information and details, go to fidelity.Com.

Barron's, february 21, 2020 online broker survey. Fidelity was ranked against nine other competitors in six major categories and 78 subcategories. Fidelity tied interactive brokers for #1 overall.

Investor's business daily ® , january 2020: best online brokers special report. Fidelity was named best overall online broker, and also first in equity trading tools, research tools, low-cost/ETF trading, investment research, mobile trading platforms/apps, and portfolio analysis & reports. Results based on having the highest customer experience index within the categories composing the survey, as scored by 4,199 respondents. The survey was conducted by investor's business daily's polling partner, technometrica market intelligence. © investor's business daily, inc. All rights reserved.

System availability and response times may be subject to market conditions.

Best brokers for free stock trading 2021

The stockbrokers.Com best online brokers 2021 review (11th annual) took three months to complete and produced over 40,000 words of research. Here's how we tested.

When it comes to free stock trading in 2021, investors need to look beyond the price of stock and ETF trades. Why? Because all brokers offer free trades. However, not all brokers have excellent education, a great trading platform, or robust market research. Also, most brokers accept payment for order flow (PFOF), a hidden fee that generates over $1B each year in profits for the industry.

For our 2021 annual review, we scored 11 different online brokers that offer free trading. To assess each platform, we tested well over 100 features, broke down miscellaneous account fees, and researched each firm's order execution practices.

Best brokers for free stock trading 2021

Fidelity - best free trading platform

TD ameritrade - free trading, best education

Interactive brokers - free trading, best pro tools

E*TRADE - free trading, best trader app

Charles schwab - free trading, best research

Best free trading platform - open account
trade commission-free: no commissions to trade online U.S. Stocks, etfs, and options. 1

Fidelity is the best free trading platform for 2021 because it offers $0 trades while also NOT accepting payment for order flow (PFOF). This guarantees customers get the absolute best price on every stock and ETF trade. Pricing aside, fidelity offers industry-leading research, excellent trading tools, and a feature-rich trading app built for everyday investors. Read full review

Free trading, best education - open account
exclusive offer: get up to $375 and trade commission-free with TD ameritrade.

TD ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners, and reliable customer service. This outstanding all-around experience makes TD ameritrade our top overall broker in 2021. Read full review

Free trading, best pro tools - open account
exclusive offer: new clients that open an account today receive a special margin rate.

Traditionally known for its leading offering of platforms, tools, and pricing for professionals, interactive brokers has made significant strides in recent years and today also appeals to casual investors, thanks to $0 trades and its client portal web platform. Read full review

Free trading, best trader app - open account
current offer: open an E*TRADE account & get $50 or more w/ code: WINTER21

Founded in 1982 as one of the first online brokerages in the united states, E*TRADE highlights include $0 trades, two excellent mobile apps, and the power E*TRADE platform, which is great for beginners, active trading, and options trading. Read full review

Free trading, best research - open account
current offer: $0 online stock, ETF, and options commissions at schwab.

With more than $6 trillion in client assets, charles schwab understands how to consistently deliver value to its customers. Highlights include $0 trades, excellent stock research, a diverse selection of trading tools, and an industry-leading offering of financial planning services. Read full review

Other trading platforms for free stock trading

Beyond our top five free trading platforms for 2021, here are high-level takeaways for merrill edge, tradestation, webull, and robinhood. To dive deeper, read our full reviews.

Merrill edge - open account
current offer: invest in a new account and get up to $600.

Merrill edge offers $0 trades with industry-leading research tools (especially ESG research) and excellent customer service. Better yet, for current bank of america customers, merrill edge's preferred rewards program provides the best rewards of any best bank broker we tested in 2021. Read full review

Tradestation

As a trading technology leader, tradestation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. Like its other active-trader focused competitors, tradestation lacks in its offering of fundamental company research for casual investors. Education is also a mixed bag, making it just an "ok" choice for beginners. Read full review

Webull
while webull's mobile app offers more features than robinhood, it struggles to compete with the extensive amount of trading tools provided by the best stock trading apps. Also, like robinhood, webull's top source of revenue is payment for order flow (PFOF), making hidden trading costs a substantial drawback to using the app. Read full review

Robinhood
robinhood's stock app is very easy to use; however, now that all online brokers offer $0 stock and ETF trades, robinhood's lack of trading tools and research leaves it a step behind the competition. In addition, robinhood's top source of revenue is payment for order flow (PFOF), making hidden trading costs a substantial drawback to using the app. Read full review

Trading fees comparison

Using our online brokerage comparison tool, here's a comparison of the trading and account fees for the best free trading platforms.

Feature	fidelity open account	TD ameritrade open account	interactive brokers open account	*ETRADE** open account	charles schwab open account
minimum deposit	$0.00	$0.00	$0.00	$0.00	$0.00
stock trade fee (per trade)	$0.00	$0.00	$0.00	$0.00	$0.00
ETF trade fee	$0.00	$0.00	$0.00	$0.00	$0.00
options base fee	$0.00	$0.00	$0.00	$0.00	$0.00
options per contract fee	$0.65	$0.65	$0.65	$0.65	$0.65
mutual fund trade fee	$49.95	$49.99	$14.95	$19.99	$49.95
broker assisted trades fee	$32.95	$44.99	$30.00	$25.00	$25.00

feature	fidelity open account	TD ameritrade open account	interactive brokers open account	*ETRADE** open account	charles schwab open account
IRA annual fee	$0.00	$0.00	$0.00	$0.00	$0.00
IRA closure fee	$0.00	$0.00	$0.00	$60.00	$50.00
returned ACH fee	$0.00	$25.00	N/A	$0.00	$25.00
returned wire fee	$0.00	$25.00	N/A	$0.00	$25.00
stock certificate processing fee	$0.00	$0.00	N/A	$0.00	$100.00
stock certificate delivery fee	$100.00	$500.00	N/A	$75.00	N/A
paper statement fee	$0.00	$0.00	N/A	$2.00	$0.00
paper confirmation fee	$0.00	$0.00	N/A	$0.00	$0.00
domestic wire fee	$0.00	$25.00	$10.00	$25.00	$25.00
international wire fee	$0.00	$25.00	$10.00	$25.00	$25.00

What is commission free trading?

Commission-free trading means there is no charge for placing a stock or ETF trade. In october 2019, a pricing war led to the full-service brokerages cutting their stock and ETF commissions to $0 to compete with free trading platforms such as robinhood.

How do brokers make money on commission free trades?

For startup brokers such as robinhood and webull, payment for order flow (PFOF) is the primary way they make money. Meanwhile, for larger full-service brokers such as fidelity and schwab, their largest revenue source comes from sweeping the idle cash sitting in customer accounts into subsidiary banks each night.

More details: when online brokers sweep uninvested cash overnight into their subsidiary banks, they earn a tiny bit of interest. Brokers claim they share this with their customers, but the reality is, most keep the majority of interest for themselves. While it may not seem like much, earned interest adds up when conducted across millions of accounts and billions in idle cash.

What is the best free trading platform?

The best free trading platforms offer $0 stock and ETF trades, easy to use trading apps, quality market research and education, and a diverse selection of trading tools. Our top picks for free stock trading in 2021 are fidelity, TD ameritrade, interactive brokers, E*TRADE, charles schwab.

Summary

To recap, here are the best brokers for free stock trading.

Methodology

For the stockbrokers.Com 11th annual best trading platforms review published in january 2021, a total of 2,816 data points were collected over three months and used to score brokers. This makes stockbrokers.Com home to the largest independent database on the web covering the online broker industry.

Participation is required to be included. Each broker completed an in-depth data profile and provided executive time (live in person or over the web) for an annual update meeting. Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

About the author: blain reinkensmeyer as head of research at stockbrokers.Com, blain reinkensmeyer has 20 years of trading experience with over 1,000 trades placed during that time. Referenced as a leading expert on the US online brokerage industry, blain has been quoted in the wall street journal, the new york times, and the chicago tribune, among others.

All pricing data was obtained from a published web site as of 01/19/2021 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

1 $0.00 commission applies to online U.S. Equity trades, exchange-traded funds (etfs), and options (+ $0.65 per contract fee) in a fidelity retail account only for fidelity brokerage services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an options regulatory fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See fidelity.Com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through fidelity clearing & custody solutions® are subject to different commission schedules.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read characteristics and risks of standardized options. Supporting documentation for any claims, if applicable, will be furnished upon request.

TD ameritrade, inc. And stockbrokers.Com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

Advertiser disclosure: stockbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While stockbrokers.Com has all data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by stockbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

Investing for everyone

Break free from commission fees

Make unlimited commission-free trades in stocks, etfs, and options with robinhood financial, as well as buy and sell cryptocurrencies with robinhood crypto. See our fee schedule to learn more about cost.

Introducing fractional shares

Fractional shares disclosure

Learn as you grow

Our goal is to make investing in financial markets more affordable, more intuitive, and more fun, no matter how much experience you have (or don’t have).

Our products

Earn 0.30% APY* on your uninvested cash and get more flexibility with your brokerage account.

Variable APY and debit card disclosures

Robinhood means robinhood markets and its in-application and web experiences with its family of wholly owned subsidiaries which includes robinhood financial, robinhood securities, and robinhood crypto.

All investments involve risks, including the possible loss of capital.

Securities trading is offered to self-directed customers by robinhood financial. Robinhood financial is a member of the financial industry regulatory authority (FINRA) .

Best free stock market simulators

Dan schmidt

Contributor, benzinga

Learn to beat the market with warrior trading's market simulator

Best stock market simulators:

Take a look at benzinga’s top picks:

Best overall: thinkorswim by TD ameritrade

Best for day trading bear bull traders simulator– get 20% off lifetime memberships with BENZINGA20 at checkout

Best for intermediate traders: tradestation

Best for new investors: warrior trading

Best for paper trading: ninjatrader free trading simulator

What’s a stock market simulator?

Key qualities of the best stock market simulators

The top stock market simulators chosen by benzinga share a few common traits:

They closely resemble the actual market. You want an authentic stock trading experience when paper trading, so simulators must feel like the real thing. Buying and selling stocks in real time is important, so it’s important to have access to more advanced securities and order types.

Many securities are available. Buying and selling stocks is fun, but you might want to test some more conservative strategies such as buying and holding etfs and mutual funds. A good stock market simulator will let you trade triple-leveraged etns and hold mutual funds for 40 years.

Useful research tools and stock charts are included. What good is trading if you can’t do any research? Stock charting tools are a necessity for any (real or fake) trading platform, and it doesn’t hurt to have access to conference calls, news reports or economic data, either.

Best stock market simulators

We’ve ranked the best stock market simulators. All of them offer terrific platforms, but the top selections on this list will have all the features an advanced trader can ask for.

Forex trading accounts

To trade online, you need to open a forex trading account. When you sign up, you will likely have to choose among several account types. The best forex trading accounts are those that suit your personal needs perfectly. On this page, we look at the forex trading account options you have. We also discuss ways in which these account options will impact your trading performance. You will learn:

Which is the best forex trading account?

Account types. What is a standard account, a funded account, a mini/micro account, a managed account, etc?

Geographic account type considerations.

Below are the best forex trading accounts in your location:

The top 5 forex trading accounts

Opening a forex trading account

What do you need to consider when opening a new forex trading account?

The brokerage firm. Is it reputable or is it a known scammer?

The services the brokerage firm offers.

Costs and incentives involved.

The account type that best suits your needs.

Once you have gotten these issues sorted, there is 3 step process for opening an account:

Fill out the application forms and provide the information your broker requires.

Fund your account.

Start looking for investment opportunities.

When you select a brokerage firm, you take all these factors into account. You need to know whether your would-be broker is a trustworthy destination for traders. Though fewer these days, rogue operations still exist. Creating a real money account with such a broker is flushing money down the toilet.

You also need to know what incentives your broker offers. Match up these incentives with the costs. The broker has to support the account type you prefer and it has to give you access to a proper suite of services. You may even have a preferred account funding method. The broker may or may not accept/support that method.

Services-wise, you are looking for:

Proper trading platforms, with solid technical analysis tools.

Access to education and research.

Trading foreign markets.

Special features you may want.

Convenience. Some brokerage firms offer face-to-face guidance. Others do not. It always makes sense from the perspective of trust, to prefer an operator with physical offices close by.

As far as incentives go, some brokers offer commission-free trading. Others may even reward you for certain achievements as a trader. You may even want to keep your savings with the broker if it rewards you for it.

Make sure you read and understand the full pricing schedule/policy of your broker.

Determining the right trading account type to meet your needs depends on what kind of trader you are, and what your objectives are.

When you fill out your application forms, be aware that you will have to provide information on your employment status, investable assets, and net worth. Some find such probing on the part of the broker quite intrusive.

You also have to provide a copy of your ID/driver’s license. If you want to trade options or gain access to margin, you may have to provide additional information.

Brokers accept several account-funding methods.

Various e-wallets. (neteller, paypal, skrill etc)

Bank transfer.

Electronic funds transfer.

Checks.

Some may accept asset transfers and even paper stock certificates.

Which is the best forex trading account?

As mentioned, the best account type for you is the one that best suits your needs and personal profile. The factors you should consider in this regard fall into two main categories.

Your investment objectives.
The type of trader you are.

Choosing a forex trading account based on your investment objectives

– most “casual” traders invest with a relatively near-term goal. The “make some money” mantra is the main driver behind such efforts. If this mantra describes your investment objectives, you likely need a traditional brokerage account. Such accounts do not offer any tax advantages. On the other hand, they do not tie up your investments long-term either.
You may also be able to trade on margin with such an account. Trading on margin involves borrowing money from the broker. The assets in your account will serve as collateral in this case. Trading on margin carries some obvious risks.

– if your goal is to secure your nest-egg for your retirement, an IRA (individual retirement account) is your option. All IRA options, such as traditional IRA, roth IRA, and rollover IRA offer you tax benefits. On the downside, you will not be able to touch this money before you are old.

Choosing a forex trading account based on what type of investor you are

– you are an absolute beginner. And as such, not much of an investor. What you need at this stage is education. Possibly some good trading signals as well. In a word, you need an account, through which the broker can hold your hand. It could be that your ambitions are not high. Still, you need to know why you are doing what you are doing. Customer service and user interface are important factors in your account selection.

– you are a “value” investor. Such investors buy and hold assets, to sell them when they appreciate. Such investors are not active traders. If you are a value investor, you value fundamental analysis. You have little use for charting and fancy technical indicators, however.

– passive investing. Those who invest in index funds passively do not require much from their broker. Unlike beginners, such traders don’t need their hands held either. They just need access to index funds, and good tradable asset selection within this category.

– high frequency trader. Active traders do not hold their positions long-term. They buy and sell with high frequency. Thus, they need all the bells and whistles their broker can offer them. They want good trading platforms with superb charting. Outstanding reporting and a highly functional interface are also musts. Technical analysis is the bread and butter of this trader category. Trading costs are also very important for active traders.

Forex trading account types

There are four basic account type categories: standard, funded, mini and managed. We will look at each in turn.

Within these categories, there are a few additional variants, such as the micro accounts. There are a handful of special account types as well, such as islamic accounts, demo accounts, and VIP accounts. Every one of these account options carries some advantages and some disadvantages.

Standard trading accounts

The name of this account option stems from the standard lots to which it gives traders access. A standard currency lot is worth $100,000. Such a lot size seemingly places this account type out of the reach of average traders.

You do not have to have $100,000 in your account to trade, however. The existence of margin and leverage means that you only have to have $1,000 to trade a standard lot.

Leverage varies based on many things. In the EU, forex leverage is capped at 1:30. In other places, brokers may offer leverage up to 1:500 even on standard accounts.

Brokers offer full services for the holders of standard accounts. Such accounts require upfront capital, so these are all depositing traders. The profit potential of this account type is significant as well.

On the downside, the same goes for loss potential. For this reason, you should only trade through a standard account if you are an experienced trader.

Funded trading accounts

Some brokers/other financial organizations fund certain traders. They provide them with starting capital, in exchange for a share of their future profits.

How does such a setup work?

Would-be funded account owners need to pass an evaluation program. If the broker’s analysts consider them to be good candidates, they grant them a funded account.

Funding can run into millions of dollars. Profit splits are in the 50% range. Funded accounts carry monthly profit targets. Traders who fulfill these targets can gain additional funding.

The broker pays out the profits periodically.

What do you need to do to secure such a funded account?

Your first step is to sign up for the evaluation program.

Trade through the evaluation account and reach the targets.

Earn a proper funded account and start making money for you and the account provider.

Mini and micro trading accounts

A standard account features $100,000 lots. For traders who cannot afford to trade in that league, despite margin and leverage, mini accounts offer an alternative. A mini account supports mini lots. These lots are worth $10,000 each. Mini accounts usually accompany standard accounts and they target new traders.

Micro accounts take this approach a step further. They support micro-lots of $1,000. Such accounts are even more affordable than the mini ones. Like the minis, micro accounts target beginners as well.

The main advantage of mini and micro accounts resides in risk-reduction. For a mere $250-$500, you can open such a trading account. Trading in lower increments stretches your funds longer as well. This is one of the reasons why professional traders like to use such accounts. They can test their strategies in a low-risk, real-money environment.

In addition to the inherent risk-minimization benefits, mini and micro accounts let you spread your funds thinner. Thus, you can better micro-risk-manage them.

The obvious downside is that risk/loss minimization reduces profit potential as well. Such accounts are, therefore, hardly suited to cover the profit needs of professional/advanced traders.

Managed trading accounts

Forex trading account management works like this, A managed account is one that holds your funds but excludes you from decision-making. You make your deposit, and someone else – usually a broker-side expert – does the trading for you. You may be able to set objectives, however.

Why would you want to give up control through such a trading account?

– you are not an expert and you feel that the manager will do a better job than you ever could. Thus you let the manager handle your individual trading account.
– you feel that pooling your money with the funds of other investors offers you a degree of protection. Such managed accounts work like mutual funds. Managers handle the trading and they distribute the profits.

Managers rank these pooled accounts according to risk tolerance. Those looking for higher profits opt for more risky accounts. Those with a lower risk tolerance play it safer, earning less.

The main advantage of a managed account is that it allows you to cash in on the skills of a forex professional. Furthermore, you get to do it hands-off.

The disadvantage is that this forex expert will cut a commission from your profits. Managed accounts require larger deposits than regular ones. Individual accounts may require as much as $10,000. Pooled accounts are slightly cheaper at around $2,000.

Islamic trading accounts

Islam holds trading to be haram (not permitted). There are ways to turn it into halal (permitted), however.

All trading activity has to adhere to the principles of islamic finance.

There must not be any interest (riba) involved.

Exchanges involved in trading have to be immediate.

No gambling is allowed.

Risks, as well as benefits, have to be distributed.

Islamic accounts are swap-free accounts, through which transactions and the payments of costs associated with them, happen instantly. In the context of islamic trading accounts, the margin, commissions and administrative fees are not riba.

VIP accounts

Brokers reserve their VIP accounts to their most privileged clients. A VIP account holder enjoys special benefits, such as superior trading conditions. Forex brokerages often invite VIP traders to special events, treating them to special rewards.

What do you have to do to gain access to such an account?

You normally need to deposit an unusually large amount of money (often upward of $100,000). You will also need to trade frequently and perhaps meet certain trade volume requirements.

Demo accounts

A demo account is the “play money” simulation of a real account. It allows traders to test the platform and trading conditions. Some may also use such accounts to test-run certain strategies.

When you sign up for a demo account , the broker credits your account with a set amount of virtual funds. Some demo accounts offer the same functionality as a standard/mini/micro account. Others limit their users’ access to certain features.

Geographic considerations

Sometimes, your geographic location should play a role in your account type selection. Some jurisdictions may limit certain trade types. In the US, there is no CFD trading. The practice is against US securities laws.

Leverage varies greatly between EU regulated countries, the UK for example, and other parts of the world. In the EU forex margin is limited to 1:30 by ESMA, the european regulator.

In other parts of world, india and south africa for example, leverage can be offered up to 1:1000 (though 1:400 or 1:500 is more typical)

The taxes you have to pay on your profits also vary from one jurisdiction to another. Read our taxes page for more on that.

Brokerage account

Put your money to work in our easy-to-manage account

Enjoy $0 commissions for online US-listed stock, ETF, and options trades. 2 get easy access to your cash with a free debit card, checking, or bill pay. 3

Open an account in about 10 minutes.

What you get
with an E*TRADE
brokerage account

We have tools to help make investing easy. Youвђ™ll get a full range of investment choices. Ideas of what to invest in. Easy-to-use trading tools. And help whenever you need it.

Start the year with a cash bonus, plus commission-free trades

Got $5,000? Get $50 or add even more and get up to $2,500 when you open and fund a new account. Learn how 1

Trade more, pay less

With E*TRADE, you pay $0 commissions for online US-listed stock, ETF, and options trades.
Hereвђ™s a quick overview of our clear, competitive per-trade pricing.

Stocks

Mutual funds

Prices vary

No load, no-transaction-fee for more than 4,400 funds 4

Options

50вў - 65вў

Bonds

Per bond for online secondary market trades ($10 minimum, $250 maximum) 5

Futures

Per contract, per side вђ”plus fees 6

Investing doesn't need to be confusing

Not sure where to begin? We can help you learn the ins and outs of investing with in-depth tutorials, articles, videos, and more.

Up your game with our trading tools

We have tools for every trading level. Placing a trade is easy with E*TRADE's desktop and mobile platforms. Not new to the game? Power E*TRADE is our innovative platform for traders who are passionate about the markets.

Have questions? Get jargon-free answers.

We're always here if you need help or want to bounce ideas off us. Our team leaves confusing financial jargon at the door, and instead talks to you like a human.

Start investing today

Enjoy $0 commissions on online US-listed stock, ETF, and options trades with no account minimums. 2В

Get up to $2,500 with promo code WINTER21. Learn how 1

About us 

Service 

Quick links 

Connect with us

Check the background of ETRADE securities LLC onв FINRA's brokercheckв andв see
ETRADE securities LLC and E*TRADE capital management, LLCВ relationship summary.

PLEASE READ THE IMPORTANT DISCLOSURES BELOW.

E*TRADE credits and offers may be subject to U.S. Withholding taxes and reporting at retail value. Taxes related to these credits and offers are the customer's responsibility.В

Offer validВ for new E*TRADE securities customers opening one new eligible retirement or brokerage account by 1/31/2021 and funded within 60 days of account opening with $5,000 or more. Promo code 'WINTER21'.

New customer opening one account:В these rules strictly apply to clients who are opening one new E*TRADE account, do not have an existing E*TRADE account and do not open any other new E*TRADE account for 60 days after enrollment in this offer. For other circumstances, please refer to the вђњexisting clients or new clients opening more than one accountвђќ disclosures below. Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 days of account opening, as follows:$5,000-$9,999 will receive $50; $10,000-$19,999 will receive $100; $20,000-$24,999 will receive $150; $25,000-$99,999 will receive $200; $100,000-$249,999 will receive $300; $250,000-$499,999 will receive $600; $500,000-$999,999 will receive $1,200; $1,000,000 or more will receive $2,500. Reward tiers under $100,000 ($5,000-$9,999; $10,000-$19,999; $20,000-$24,999; $25,000-$99,999) will be paid following the expiration of the 60 day period. However, if you deposit $100,000-$249,999, you will receive a cash credit within seven business days. If you have deposited at least $100,000 in the new account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60 day window. For example, if you deposit $150,000, you will receive a cash credit of $300 within seven business days, then if you deposit an additional $100,000 into your new account, you will receive an additional cash credit of $300 at the end of the 60 day window for a total reward of $600. If you deposit between $250,000 and $999,999 in your new account, you will receive a cash credit in two transactions at the end of the 60 day windowвђ”depending on your initial funding amount. If you deposit $1,000,000 in your new account, you will receive two cash credits that will total $2,500 within seven business days.

Existing clients or new clients opening more than one accountв are subject to different offer terms. Please click here to view offer terms.

Offer rules for all participantsВ new funds or securities must be deposited or transferred within 60 days of enrollment in offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of twelve months or the cash credit(s) may be surrendered. For purposes of the value of a deposit, any securities transferred will be valued the first business day following completion of the deposit. Removing any deposit or cash during the promotion period (60 days) may result in lower reward amount or loss of reward. E*TRADE securities reserves the right to terminate this offer at any time. If you are attempting to enroll in this offer with a joint account, the primary account holder may have to fulfill at the tiers noted before the secondary account holder can enroll in this offer. If you experience any issues when attempting to enroll with a joint account, please contact us 800-387-2331 (800-ETRADE-1) and we will be able to assist you with your enrollment.

Best brokers for free stock trading 2021

The stockbrokers.Com best online brokers 2021 review (11th annual) took three months to complete and produced over 40,000 words of research. Here's how we tested.

Best brokers for free stock trading 2021

Fidelity - best free trading platform

TD ameritrade - free trading, best education

Interactive brokers - free trading, best pro tools

E*TRADE - free trading, best trader app

Charles schwab - free trading, best research

Best free trading platform - open account
trade commission-free: no commissions to trade online U.S. Stocks, etfs, and options. 1

Free trading, best education - open account
exclusive offer: get up to $375 and trade commission-free with TD ameritrade.

Free trading, best pro tools - open account
exclusive offer: new clients that open an account today receive a special margin rate.

Free trading, best trader app - open account
current offer: open an E*TRADE account & get $50 or more w/ code: WINTER21

Free trading, best research - open account
current offer: $0 online stock, ETF, and options commissions at schwab.

Other trading platforms for free stock trading

Beyond our top five free trading platforms for 2021, here are high-level takeaways for merrill edge, tradestation, webull, and robinhood. To dive deeper, read our full reviews.

Merrill edge - open account
current offer: invest in a new account and get up to $600.

Tradestation

Trading fees comparison

Using our online brokerage comparison tool, here's a comparison of the trading and account fees for the best free trading platforms.

Feature	fidelity open account	TD ameritrade open account	interactive brokers open account	*ETRADE** open account	charles schwab open account
minimum deposit	$0.00	$0.00	$0.00	$0.00	$0.00
stock trade fee (per trade)	$0.00	$0.00	$0.00	$0.00	$0.00
ETF trade fee	$0.00	$0.00	$0.00	$0.00	$0.00
options base fee	$0.00	$0.00	$0.00	$0.00	$0.00
options per contract fee	$0.65	$0.65	$0.65	$0.65	$0.65
mutual fund trade fee	$49.95	$49.99	$14.95	$19.99	$49.95
broker assisted trades fee	$32.95	$44.99	$30.00	$25.00	$25.00

feature	fidelity open account	TD ameritrade open account	interactive brokers open account	*ETRADE** open account	charles schwab open account
IRA annual fee	$0.00	$0.00	$0.00	$0.00	$0.00
IRA closure fee	$0.00	$0.00	$0.00	$60.00	$50.00
returned ACH fee	$0.00	$25.00	N/A	$0.00	$25.00
returned wire fee	$0.00	$25.00	N/A	$0.00	$25.00
stock certificate processing fee	$0.00	$0.00	N/A	$0.00	$100.00
stock certificate delivery fee	$100.00	$500.00	N/A	$75.00	N/A
paper statement fee	$0.00	$0.00	N/A	$2.00	$0.00
paper confirmation fee	$0.00	$0.00	N/A	$0.00	$0.00
domestic wire fee	$0.00	$25.00	$10.00	$25.00	$25.00
international wire fee	$0.00	$25.00	$10.00	$25.00	$25.00

What is commission free trading?

How do brokers make money on commission free trades?

What is the best free trading platform?

Summary

To recap, here are the best brokers for free stock trading.

Methodology

TD ameritrade, inc. And stockbrokers.Com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

So, let's see, what we have: you can now trade stocks online or through apps - and often for free. But, what are the best free stock trading platforms? At free trading accounts