Brokers Offering Free Stock Trades
Other than trading losses, the most expensive part of trading has to do with the trade commissions that are charged every time you buy or sell a security. But, what if you could get your trades for free? There are several brokers that offer free trades, either as a new account incentive or as a reward for making a certain number of trades every month. Some even offer them as a finder’s fee for your referrals. So, if you are an active trader looking for a way to save a few dollars a month on commissions, then check out the brokers below.
E*Trade - Trade Free For 60 Days & Get Up To $500
- E*Trade is a great example of brokers offering commission free trading. By simply opening a new broker account with E*Trade and funding it with at least $2,000, you can trade stocks and options all you want for 60 days without ever paying a dime in commissions. This means that you can buy and sell as much stock or as many options contracts as you want for free, for that limited period.
- You can also get a $500 bonus deposit if you fund your new account within 45 days of opening it.
- The free trade offer applies to an E*Trade Complete Investment Account, an E*Trade Regular IRA or Rollover IRA.
- You can fund your account via a wire transfer request, an account transfer, a mail in check or a free quick transfer via ACH transfer.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $9.99 | $9.99 | $0.75 | $500.00 | $45.00 | $0.00 - $19.99 |
E*Trade - IRA Offer of Cash & Trades
- E*Trade offers free stock trades for 60 days when you open a new traditional IRA.
- IRA accounts are available for investors who are at least 18 years of age. Enjoy tax free savings while funding your retirement.
- Opening a rollover IRA with E*Trade can yield you up to $500 in a cash credit. The bonus is based on the funds you transfer. Deposits over $250,000 will earn $500; $100,000 to $249,999 will earn $250; $50,000 to $99,999 will earn $100; $25,000 to $49,000 will earn $50.
- The rollover IRA has no annual fee. It also has no minimum balance required.
- You can rollover funds from a 401(k), 457, 403(b) account or any other employer sponsored retirement plan.
- Access stocks, options, ETFs, over 7,600 mutual funds (of which 1,100 are no-load), target date funds, bonds and other fixed income products.
- Get access to E*Trade's exclusive All-Star Funds.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $7.99 - $9.99 | $7.99 - $9.99 | $0.75 | $500.00 | $45.00 | $0.00 - $19.99 |
OptionsHouse
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $3.95 | $8.50 | $0.15 | $0.00 | $3.95 | $9.95 |
TDAmeritrade
- TDAmeritrade offers 30 days of commission-free online equity trades.
- Open a new account and fund it with at least $2,000. With $2,000, you get free equity trades for a month. If you fund your account with $25,000 - $99,000, you'll get $100 above the free trades. With a balance of $100,000 - $249,000, you'll earn $250 plus free trades. With $250,000 or more, you'll receive $500 plus 30 days of free trades.
- To receive the cash bonus, you'll need to fund a non-IRA account.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $9.99 | $9.99 | $0.75 | $2,500 | $44.99 | $0.00 - $49.99 |
Firstrade
- Firstrade has a triple bonus promotion for a limited time. You can receive 250 free trades, a rebate of up to $100 if you switch to Firstrade, and $250 cash back, depending on your balance.
- With free trades, there are no limits with regard to the number of trades you can make or the size of each trade.
- The free trades could be a great deal for active traders. All you have to do to take advantage of this offer is to open a new account and fund it with at least $1,000 within 30 days of account open.
- Receive a wire transfer fee rebate as well, that's valued up to $25.
- Get $50 if you refer a friend to Firstrade.
- Like a lot of other discount brokers, they have a good selection of mutual funds, investment tools, free research and streaming quotes.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $6.95 | $6.95 | $0.75 | $0.00 | $26.95 | $0.00 - $9.95 |
Scottrade - Get 3 Free Trades (ReferALL Program)
- The Scottrade ReferALL program allows you to earn 3 free trades for each friend or family member you refer to Scottrade.
- Both referrer and referee will be eligible for free trades as soon as the referred account is approved. So current and new customers can enjoy this offer.
- The referee must use an eligible ReferALL code when applying. Make sure you read the program terms before opening an account.
- You can refer an unlimited number of investors through the ReferALL program.
- Participants in this program will immediately receive 3 free trades each once the new account is approved.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $7.00 | $7.00 | $1.25 | $500.00 | $27.00 | $0.00 - $17.00 |
Who Offers Free Stock Trades?
There’s nothing better than getting something for nothing and getting free trades is no exception. Everyone knows that in order to dabble in the stocks and other investments, you have to have a broker. These middlemen typically charge a fee or commission for executing your order. These brokers have fees for every type of transaction, may it be a buy, sell or stop loss order. Also, the fees can vary based on the type of transaction or investment product that is impacted by the transaction. As a form of promotion, some brokers are looking to pick up your business by offering new customers a chance to trade for free, as a way to say thanks for opening an account.
So, what can you expect from a broker offering free trades?
- Completely commission free trades. Some brokers will allow you to make a specific number of trades commission free while others will allow you to make an unlimited number of free trades during a specified period of time. If you trade frequently, it might make sense to utilize a broker that's offering a free trade period versus a total number of free trades.
- Free trades on a variety of investments. While most brokers that offer free trades will do so on any investment vehicle they offer, some will only offer them on specific investment products. So make sure that you read the fine print carefully before signing up and starting your trading.
- Ongoing free trades. A few brokers will allow you to continue getting free trades on an ongoing basis if you maintain a specific balance in your account or make a certain number of trades each month. This feature is worth its weight in gold if you are a frequent trader or can keep a higher balance in your trading account.
But, as with all other financial endeavors, keep in mind that broker commissions are only one part of the process of deciding which broker you should choose. Before you select a broker, make sure that they offer a full suite of educational and professional trading tools, an appropriate level of customer service, and a trading platform that you are comfortable using. Free online trading is simply the icing on the cake.
With investing and stock and options trading, your profit margin and commissions on your orders can put a pretty big dent in your returns, especially if you trade heavily. Getting your orders executed for free is a great way to make sure that you get the most money out of your successful trades and reduces the amount of loss you will experience in the event a trade doesn’t go your way.
So, the next time you are in the market for a new investment broker, take a look at a few that offer free trading and watch your profits increase.
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