Top no fee investment companies. No account and trading fees brokerage firms for stocks and mutual funds investors in 2023.

No Fee Brokerage Firms Overview

In recent years, investors have been demanding fewer fees from their brokerage houses. Firms have responded by slashing a wide range of charges. This article will take a look at some of the specific savings, and see which firms are truly no-fee brokers.


Just ten years ago, most brokers charged a host of fees. Establishing an IRA carried a fee, and there was an annual fee for the retirement account as well. An account with a low balance was usually charged something, and accounts with high balances would be charged an annual maintenance fee.

Traders who didn't have sufficient activity would also be assessed a fee. Brokers would also charge a fee just for closing an account.

Today, this landscape is changing and has already changed quite a bit. Many brokers, although not all, have eliminated a lot of these fees. And there is now an expectation among investors that brokerage houses shouldn't charge unnecessary fees.

Several brokers in particular have taken the lead in reducing or eliminating excessive charges. Here's a rundown on some of them.

TD Ameritrade

Some of the fewest fees can probably be found at TD Ameritrade. The broker doesn't charge anything to setup an IRA, to maintain it, or even to close it. Most brokers do charge a fee to close a retirement account. The same policy applies to a regular trading account. There are no low-balance fees or charges for inactivity.

There are no fees for cash management features, either. The broker sends out checks and a Visa debit card free of charge. Even ATM fees that are incurred while using the card are reimbursed by the broker.

TD Ameritrade has eliminated trading fees for stocks and ETFs. The broker, however, still charging $49.99 on many mutual funds and 65 cents on each option contract.

TD Ameritrade has excellent trading tools, but yet doesn't charge a dime to use them. There are no account minimums to access the technology, nor are there any trading requirements. The broker offers two desktop platforms, three mobile apps, and an app for Apple Watch. All of them are free for all clients.

Learn more in TD Ameritrade review.

TD Ameritrade No Fee Account

$0 stock/ETF trades and a transfer fee refund.

Open TD Ameritrade Account


Firstrade Securities offers the ultimate no fee account. Not only there are no account fees but there are also no brokerage commissions. That's right - you pay $0 commission on all stock, ETF, options and mutual funds trades. No other broker managed to offer so many $0-commission products as Firstrade.


Learn more in Firstrade review.

Firstrade No Fee Account

Earn up to $4,000 cash bonus & get transfer fee reimbursement.

Open Firstrade Account


A brokerage account can be setup at Fidelity with any balance, and the broker doesn't assess any fees. There is no annual or inactivity fee for a regular brokerage or retirement account with the firm. However, Fidelity does charge a $50 fee for closing an IRA. Paper statements can be selected for any account free of charge. While the broker's advanced desktop system does carry active trader requirements, cash management tools are free, and ATM charges are refunded.

Fidelity does not charge trading fees for stocks and ETFs. It does, however, charge $49.95 on most mutual funds and 65 cents on option contracts.

Learn more in Fidelity Investments review.


A Schwab brokerage account comes with no special fees. The broker has waived all maintenance, inactivity, low-balance, and annual charges. StreetSmart Edge, the broker's advanced desktop platform, now only requires a $1,000 account balance. An IRA is free to setup and maintain, and there is no charge to close one. Free checks and a Visa card are available, and ATM fees are reimbursed.

Like Fidelity and TD Ameritrade, Schwab has no commissions on stock and ETF trades. The broker charges $49.95 on most mutual funds purchases and 65 cents on option contracts. Learn more in Charles Schwab review.

JP Morgan Chase

An Chase brokerage account carries no special fees. There are no annual, maintenance, or inactivity fees. The broker does not require a minimum balance for any account. Establishing an IRA carries no charge, nor is there an annual fee for one. Closing an IRA, however, costs $50. There is also no fee, account minimum, or trading requirements to use the broker's desktop platform. The company has the lowest commissions in this list after Firstrade.

Learn more in JP Morgan review.

JP Morgan No Fee Account

Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account.

Open Chase Account

No Fee Brokerage Accounts Summary

As more and more brokerage houses move towards a no-fee structure, traders will have a larger selection of firms to choose from. While many brokers have eliminated fees in certain areas, they still must find a way to be profitable; so they inevitably will impose fees in some cases. The most common charges at no-fee brokers nowadays is closing an IRA or requesting paper documents.