Best Free Trading Platforms – Easy Trade With No Commission

Best Free Trading Platforms

If you are looking forward to the best free trading platforms then you are at the right place. Today there are hundreds of trading platforms available and all these platforms offer various features to make trading journeys more flexible and positive.

Every day more and more traders are getting connected with these platforms but selecting one that meets your financial goal can be very time consuming and difficult. That’s why we decided to write this article to guide you about the best free trading platforms that you can use to start trading by not compromising your budget.

Also, in this article, we will talk about the metrics that you can consider if you want to select a free trading platform on your own. So, without further ado let’s jump straight into the article.

Things to consider before choosing a free trading platform 

Today there are thousands of best free trading platforms available in the market but selecting one that meets your financial goals can be time-consuming especially when you don’t know how to choose the best Platform that meets your financial goals. That’s why to save you time and energy below we have listed down a variety of metrics that you should consider before selecting the best free trading platform.

License and Regulation

Best Free Trading Platforms- regulation

This is the key metric, if a platform isn’t licensed or regulated then that’s the red flag. If the platform isn’t regulated or licensed by a financial regulatory authority then there is no guarantee that your funds are safe with the platform and if your broker dupes away with your money you can’t even raise a dispute. So, before you choose any platform make sure it is regulated.  For example, In the UK, the FCA is the regulatory body that ensures the platform can be trusted with the funds. And, if the platform is regulated by other jurisdictions, including ASIC and CySEC then it is icing on the cake. 

Diversified portfolio

Another major thing that you should look into before choosing the right broker for you is whether it gives access to your desired asset or not. And, along with that, whether it supports other investment classes to diversify your portfolio. Diversification plays an important role in investment. Simply put, if you invest in two or more things then there are changes if one investment fails others will work in your favour. That’s why to have a backup, diversification is important. Therefore, whenever you are planning on trading through a platform make sure it allows you to diversify your investments. For example, eToro is an online broker that gives you access to thousands of asset Classes, including the major ones such as ETFs, Cryptocurrencies, Stocks, Commodities and Indices Trading

Minimum Investment

Another important metric that you should look into is the Minimum Investment. Make sure the platform you are choosing for placing trades allows you to start with the minimum investments. If you are a beginner then of course you won’t have an amazing prior trading experience. That means there are chances that you may lose more or even all your investment. That’s why it is better to start with the lowest possible amount so that if you lose it you don’t have to be depressed over losing it all. Therefore, before you choose any trading platform make sure it allows you to start trading by investing a small amount. 

And, also make sure to start risking your money only when you can afford to lose it.

Fees and Commission 

Every platform is in the market to make money but the way they earn money differs from Platform to platform. There are Platforms that charge entry fees, there are those that charge commission and there are those that make money by deducting withdrawal and deposit fees. And, free trading platforms are also there to earn money, they usually charge ongoing fees. For example, webull charges $1 per month to keep your trading account open.

Deposits and Withdrawals

In most cases, many free Platforms offer you to make a deposit or a withdrawal for free. But, still, a few trading platforms that are free still charge minimal withdrawal or deposit fees. For example, Robinhood, the free trading platform allows you to deposit funds for free via ACH but that same platform charges $8 when deposited via bank wires.

Payment Methods

To make deposits and funds every platform offers different payment methods. And, platforms like eToro offer a variety of payment methods to fund your account. So before you choose any trading platform make sure it offers a variety of payment methods that are supported in your region. 

Trading Tools and Features

When selecting a free trading platform, make sure it also offers trading tools and features. There are free trading platforms that allow you to trade for free but they don’t offer you many tools and features to make your trading journey positive with minimizing the risk of losing. For example the free trading platform, eToro offers you amazing features like Copy Trading and Copy Portfolio. 

Copy-Trading

Copy Trading feature allows you to copy ongoing trades of expert traders. The minimum size of a copy is $1 so you should make sure you have sufficient funds in your account to be sure to copy all the trades by the trader you are copying. 

Copy Portfolio

Copy Portfolios is an incredible feature that takes Copy Trading to the next level. It helps traders to diversify Portfolios, minimize long-term risk, and to take advantage of current market opportunities. In Copy Portfolio investment, each portfolio is periodically re-balanced so that its users can get the most out of the trading strategy. To use this amazing feature, you first need to create a trading account on eToro’s official website. 

Customer Support 

Customer support is one of the most important services as it is always there with you in your trading journey to assist you whenever you come across any difficulties.

However, having 24/7 available customer support is a top-notch service that you may not find in all the free trading platforms. But to our luck, a few reputed trading platforms such as eToro offers you 24/7 customer support. 

Best Free trading platforms 

There are thousands of trading platforms in the market but finding the one that is safe and trustworthy can be very hectic and time-consuming. Therefore we have listed down the best free trading platforms for you with their pros and cons. 

All the below mentioned trading platforms are regulated and meet all the above-mentioned metrics.

eToro- world’s finest free trading platform

The best free trading platform that we have on our list is eToro. This free trading platform is attracting many traders globally. The platform is regulated by the FCA, ASIC and CySEC. Even the platform is accessible to US traders as it is also registered with FINRA. The very first reason that attracts thousands of traders towards it is that it offers a variety of assets including, assets, commodities trading, indices, cryptocurrencies, and many more without charging any commission. Except you will be required to pay a 0.5% fee on all your deposits and $5 on every withdrawal. It is the cheapest brokerage platform in the UK.

For beginners, eToro provides the copy trading feature. This feature allows you to copy ongoing trades of expert traders. You can also use the copy portfolio feature, which allows you to diversify your investment portfolio. Unlike other platforms, account creation on this platform is not time-consuming. It takes only a few minutes to create an account on eToro. Once you are done with creating an account you are then required to fund it to start your trading journey. For the convenience of its user’s, it accepts various payment methods for making a deposit such as Debit/Credit Card, Bank account, e-wallet e.t.c. The platform also offers a mobile trading apps for the convenience of its customers. This trading platform also offers 24/7 available customer support which other free platforms don’t offer.

Moreover, the platform also offers a free demo account. The demo account feature allows you to practice trading without investing in your real money. A demo account is already funded with $100k virtual money. This feature offers you an exact copy of what live trading is, by using this feature you gain enough confidence and experience that is needed to execute live trading.

Pros 

  • Beginner Friendly Platform 
  • Offers you to buy stocks without paying any commission 
  • Offers you 2400+ stocks and 250+ ETFs 
  • Offers you a variety of payment methods
  • Regulated by the FCA, CySEC, ASIC and registered with FINRA 
  • Offers Copy Trading and Copy Portfolio feature

Cons 

  • Not ideal for experienced traders

Libertex- free CFD trading platform

Libertex- Free trading platform

Another best trading platform that allows you to enter the platform without paying any fee is Libertex. This amazing platform offers CFD trading that means it is not suitable for US resident traders. The platform allows you to enter and exit the market without paying a spread. However, you will be required to pay a minimal amount as a commission which in any case will be less than 0.1%,  though many of the financial markets can be traded commission-free with Libertex. Libertex allows you to diversify your portfolio as it offers a variety of financial assets including forex, stocks and cryptocurrency trading. The platform also provides MT4 and MT5 and also a mobile application for the convenience of its traders. Moreover, the platform is completely safe to use as it is regulated by CySEC and FSA and also has a reputed history of more than 20 years. Libertex for the convenience of its traders also offers a free demo account feature that allows you to practice trading without investing in your real money. 

Pros 

  • Regulated trading platform 
  • Minimal commissions 
  • A well-reputed history record 
  • Compatible with MT4 and MT5
  • Offers a variety of financial investment assets
  • Offers zero spread CFD trading 

Cons 

  • Only CFDs are available.

TD Ameritrade- Best trading platform for seasoned investors

TD Ameritrade- Best free trading platform

Another trading platform that we have on our list which offers the best free trading services is TD Ameritrade, a US trusted brokerage firm. It is a fully-fledged paper account that also allows you to trade options at just $0.65 per contract. This trading platform is one of the most favourite trading platforms of those who are willing to access more advanced trading tools. And, for those who are looking forward to investing in this trading platform is the best option. This platform also offers demo account features that help traders to paper trade and practice trading without investing in their own real money. Moreover, the platform doesn’t charge any deposit or withdrawal fee plus there are no minimum account fees. It also offers mobile applications for the convenience of its traders.

Pros 

  • Trusted US Brokerage Firm 
  • Offers mobile application
  • Offers Stocks and ETFs
  • Offers option trading also 
  • Offers 11000+ mutuals 
  • Free account 

Cons 

  • Not beginners-friendly

Skilling- Best CFD Broker

Skilling- Best CFD Broker

Another broker that we recommend for enjoying free service is skilling. This amazing platform specializes in CFD instruments. Also, it allows you to access more than 700 shares from the UK, US and Europe, including several high-paying dividends stocks. The platform allows you to diversify your investment portfolio as it offers a variety of tradable assets including cryptocurrencies, forex trading and CFD trading. And for those who are looking forward to using leverage, this platform can be very beneficial as it allows you to apply the leverage of up to 1:500 which means if you have 100 you can open a position worth 1500. Unlike other platforms, skilling charges a low overnight fee for leverage. However, how much leverage you can apply depends on your region and on the fact whether you are a professional or retail client.

The maximum capped limit for those who are based in the regions such as the UK, Europe and Australia is 1:30. This platform also allows you to place buy and sell orders for free that means the platform doesn’t charge any commissions. It also offers you a demo account feature that also doesn’t cost a penny. This feature allows traders to practice the platform to understand the functionality of the platform and most importantly how trading works. Using this feature Before you initiate Live trading is highly advisable. The minimum amount that is required to initiate live trading is $100. This minimum requirement isn’t the fee of the robot but a working capital that is needed by the traders.

Skilling is highly suitable for first-time value investors as it offers a variety of simple tools. Furthermore, the platform is very safe to use as it is regulated by the FCA and CySEC. And one more interesting thing about the platform is it doesn’t charge any withdrawal or deposit fees and it also offers a mobile application that is compatible with both iOS and Android.

Pros

  • Do not require fee or commission
  • Offers 700+ shares 
  • Offers a leverage of up 1:500
  • Offers trade assistant
  • Beginner-friendly
  •  Compatible with MT4 and cTrader 

Cons 

  • New trading platform 
  • Little stock analysis

Fidelity- Best free ETF trading platform

Fidelity- ETF Broker

If you are the kind of Trader who is willing to trade ETFs without paying any fee then Fidelity is your go-to partner. This trading platform allows you to access a variety of ETFs and if you are a US-based trader then all the luck is with you as in that case you won’t be required to pay any commission. The platform is very easy to navigate. That means finding an ETF that meets your financial goal won’t be challenging. And, the SliceSM feature offered by this platform allows you to buy fractional shares and ETFs. Also, there is no minimum required account balance or deposit on this platform. This platform also offers top-rated research and educational tools. Another reason that attracts many traders to this platform is that it gives you access to US-based tax forms that need to be submitted by the end of each year. 

Pros

  • Regulated Platform 
  • Offers diversification
  • Do not require minimum account balance 
  • Offers ETF trade screener 
  • Offers top-rated educational and research materials 

Cons 

  • Do not allow debit/credit Withdrawals
  • Slow account opening process

Robinhood – Best free trading platform for US residents 

Robinhood- trading platform

For American traders, Robinhood is the best free trading platform especially for those who are new to the online trading space. This amazing trading platform is listed on the NYSE and NASDAQ. It offers more than 5000 stocks, ETFs, cryptocurrencies such as Bitcoin and also options. The platform is a favourite among traders because it allows you to buy and sell financial instruments commission-free. Deposits and withdrawals on this trading platform are also free.

This trading platform also offers a premium account at a cost of $5, which is pretty affordable. One thing to note here is that it doesn’t support Debit/Credit cards.

Pros

  • Offers 5000+ stocks 
  • Offers cryptocurrencies, ETFs, options and stocks 
  • Doesn’t charge any commission 
  • No minimum deposit is required 
  • Beginner-friendly 
  • Heavily regulated.

Cons 

  • Offers fewer stocks 
  • Do not offer debit/credit and e-wallets 

Things to consider before you start investing through a trading platform : 

  • Before you start live trading you are advised to have a detailed knowledge of the trading platform so that if anything goes wrong you are able to fix it and have a seamless trading experience. Also, beware of scammers as there are a lot of websites that claim the money in the name of this reputed platform.
  • Another thing that is advised again and again is to use the demo account feature. This feature enables traders to practice trading before they start live trading. The demo account feature uses virtual money to help traders practice and gain enough confidence that is needed to execute live trading. This feature doesn’t cost a penny and can help you in having a life-saving experience in trading.
  • The most important thing that a trader should always keep in mind is to start trading with the lowest possible amount. Don’t shy over Investing small as this is the wisest decision one can make in trading. Even those who can afford to invest more are advised to start with the minimum deposit. Initiate trading with the lowest investment can be life-saving as if anything goes wrong while trading you don’t have to be depressed over losing high investments. First, take your time to learn trading by investing in small amounts. Once, you get familiar with the mechanism of trading and gain enough confidence only then start increasing your investments gradually.
  • A trader should make a habit of withdrawing profits as you never know when things go wrong in this highly volatile market. So, having your money in your hands is the safest decision you can make in trading. 

Also, traders are advised to reinvest their profits to generate more profits. This is a proven strategy used by many expert traders to maximize their profits. 

  • All the traders work on a simple agenda, that is to invest the amount that one can afford to lose. This is the most important point one can follow in the trading industry. This means that one should start trading with the money that he doesn’t need to run either his family or himself. As in this industry, you cannot predict anything and the high volatility of this industry means that with higher profits comes higher losses also. So, if you invest the only money you have, you are making the worst decision for yourself as the chances of losing and winning become fifty-fifty, one wrong can leave you with nothing. So, make sure to never ever start trading, if you don’t have extra money.
  • Learning from the mistakes of expert traders and prior users can help you have a seamless experience in trading. Learning from the mistakes can help you know what you don’t have to do in trading. So, make sure you read blog posts, watch YouTube, and all the other sources to gather information from the other users.

Conclusion 

We hope that now you have got all the knowledge you were looking for in a free trading platform. All the above-mentioned trading platforms are free trading platforms that offer you diversification and as well as amazing features. And, also if you want to trade on any different platform of your choice then make sure to consider all the above-mentioned metrics. 

FAQs 

  1. Which is the best free trading platform? 

All the above-mentioned Platforms are the best Platforms. However, our most favourite platform is eToro. The platform has everything that we look for in the best trading platforms. Anyone can use the platform without worrying about the prior trading experience, the platform is commission-free, and also offers a demo account that is already funded with virtual money.

  1. How beneficial a demo account feature is?

A demo account feature is highly beneficial as it allows you to practice trading without investing in your original money. The demo account feature is easily accessible and provides an exact copy of live trading so that its traders can learn how to execute trades in a better way. It allows you to gain the confidence that live trading requires as it can be nerve-wracking. The demo account feature brings the best out of a trader so that he can make the most out of trading. 

  1. What is the best CFD trading platform? 

There are many  Platforms that allow CFD trading only and are totally amazing. But on comparing all the CFD trading platforms we have concluded the best of all is again our eToro free trading platform. It offers you to trade more than thousands of CFDs without paying a penny. 

  1. What is the best free Cryptocurrency Trading Platform?

Almost all the above-mentioned Platforms are the best cryptocurrencies trading platform. But among all of the platforms, the very best is eToro. On this platform, you can start trading cryptocurrencies at $25 only, which is very affordable. 

  1. How to know which is the best trading platform for me?

Before you select a trading platform that works the best for you make sure to consider a few metrics like, regulation, payment, withdrawals and deposit fees, educational and research tools. And, also check whether the platform meets your financial goal or not. If yes, then the platform is good for you and if not then move to another one.  

Also before you start trading make sure you are ready to risk your money.