Compare the best free trading platforms in 2022

The costs of investing have been falling in recent times and there are a lot of free trading platforms out there. This page compares the best free trading platforms for this year.
By:
Updated: Jul 1, 2022

Most of the biggest and best known brokerages now make it cheaper than ever to invest. With many cutting commissions completely, the choice for the best free trading platforms is wide. This guide compares the best free trading platforms helping you choose the best one. 

What are the best free trading platforms?

The table below lists the best free trading platforms for you to choose from. If you’re ready to start investing right now just click on any of the links to register an account in a few minutes. If you want to compare what the best options are then read on to learn more.

1
Min. Deposit
$10
Promotion
User Score
10
Trade/invest in stocks with just $10
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Pros:
Trade/invest in stocks with just $10
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Investoo Ltd is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Investoo Ltd to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
2
Min. Deposit
$0
Promotion
User Score
9.3
$0 commission and $0 Options contract fees
Upgraded research with advanced charts
Smart Menus for faster trades
Start Trading
Pros:
$0 commission and $0 Options contract fees
Upgraded research with advanced charts
Smart Menus for faster trades
Payment Methods
Full regulations list:
3
Min. Deposit
$500
Promotion
User Score
8.7
We offer one of the best execution speeds in the industry with low latency
Award-winning support in 14 languages
Trade with precision from 0.5 pips on EURUSD
Start Trading
Pros:
We offer one of the best execution speeds in the industry with low latency
Award-winning support in 14 languages
Trade with precision from 0.5 pips on EURUSD
Payment Methods
Bank Transfer, Bank Wire, Credit Card, Debit Card, PayPal, Sofort, neteller, skrill
Full regulations list:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top free trading platforms

1. eToro: Best overall

The best overall free trading platform is eToro. It’s the best overall because of its zero fee trading. When investing in any of the numerous assets available on the platform you will pay no commission. Not only does it have zero commissions, but its spreads are competitively low and stock investors can buy shares, or fractions of shares with as little as $10. 

Another benefit of eToro is its copy trading feature. The platform doubles as the world’s largest social trading network. Beginners can copy the positions of professionals and learn new trading strategies. Experienced investors can earn extra income by allowing other users to copy their trades.

Sign up with eToro >

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money 

Pros

  • Zero commissions
  • Low minimum deposit just $10
  • Social trading network with copy features 
  • Wide range of assets available

Cons

2. Capital.com: Best for beginners

Capital.com has a substantial range of tools and features making trading easier for beginners. Its educational content covers lots of different  topics and it has guides explaining the ins and outs of trading. It also offers lots of information on all of the different markets and assets you can trade on its platform. 

Like eToro above, Capital.com charges zero commissions. It also has no payment fees so you can deposit and withdraw money for free. Its no cost trading is somewhat compensated by its fluctuating spreads, although compared to other platforms, they are competitive.

Sign up with Capital.com >

Pros

  • No commission
  • No deposit or withdrawal fees
  • Lots of educational content
  • Over 5000 financial instruments available to trade

Cons

3. AvaTrade: Best for choice of markets

AvaTrade is a top platform if you’re looking to invest in lots of different markets. The broker lets you trade stocks, forex, ETFs, indices, commodities, bonds, and cryptocurrency. Within each asset class you’ll find a wide variety of financial instruments available including shares in companies like Apple and cryptocurrency like Bitcoin. 

Like eToro and Capital.com, AvaTrade has no commission fees. Its spreads are competitively low and ‘ultra-low’ in some of its markets. When it comes to trading on AvaTrade you’ll have a lot of options to choose from. It offers both the MT4 and MT5 platforms, as well as a mobile app, web trader, and it even has copy trading features.

Sign up with AvaTrade >

Pros

  • Large range of financial instruments to choose from
  • No commissions
  • Low spreads
  • Good selection of trading platforms

Cons

4. Skilling: Best for mobile

Skilling has a selection of three mobile apps you can download to use its platform. Its mobile apps work on iOS and Android. First up is its proprietary trading platform, Skilling Trader, which is a good fit for all levels of experience. Next up are two third party apps, cTrader and MetaTrader 4. Both mobile platforms offer a range of technical tools and ultra fast speeds. 

Unlike the other platforms on our comparison list, Skilling does charge a commission, although it’s very low at just 0.1% of an assets spread. Its spreads are equally very low and start from just 0.8 pips.

Sign up with Skilling >

Pros

  • Choice of three mobile apps
  • Low spreads
  • Advanced charting and analysis tools 
  • MetaTrader 4 platform

Cons

5. Plus500: Best for paper trading

Plus500 has the best demo account out of any of the platforms we’ve reviewed. If you’re new to trading, or just want to test out a free platform, then Plus500 is the best option for you. Its proprietary trading platform offers the same features and tools in both live and simulation mode. 

It’s a commission free trading platform and has a wide selection of assets available to trade and over 2000 financial instruments so you’ll always find something to practice with. Plus500 also has a trading academy that is free to access where you can learn more about its trading tools.

Sign up with Plus500 >

Pros

  • Over 2000 financial instruments available 
  • Low spreads 
  • Mobile app available 
  • Free trading academy with risk management tools

Cons

What is a free trading platform?

It’s a piece of software that lets you place trades on financial assets without incurring charges like commissions. A trading platform can be accessed by registering with an online brokerage firm. The platform connects and matches your buy and sell orders with others on an exchange. 

Traditionally, every time you bought or sold an asset on a trading platform you would pay a fee known as a commission. With the rise in discount brokerage firms, commissions have been made largely redundant. When using a free trading platform you should expect to incur other costs like spreads and possibly payment processing fees. 

How does a free trading platform work?

A free trading platform is a way for retail traders to connect to an exchange and place trades. Trading platforms are pieces of software that allow you to see the most up to date prices for any financial instrument. You can then place a buy or sell order and the software will match it with other orders in the market. 

How should I choose a free trading platform?

When it comes to choosing a free trading platform there’s a few things you should consider before making your decision. Free trading platforms won’t usually have commissions but other costs like spreads will usually be something to think about. Below we’ve included some of the features that you should look out for when choosing a platform. 

  • Fees. Most free trading platforms wont charge commission on your buy or sell orders. However some may charge a small fee. You’ll also have to consider the bid ask spread which is how your broker will make their money. 
  • Spreads. When you use a free trading platform be prepared to pay spreads on each trade you make. Spreads will usually be a little higher when commission is zero. This is so that your broker can make their profits. 
  • Range of assets available. Some free trading platforms only focus on one or two assets. It’s common to find forex and stocks on most platforms. If you want to spread your portfolio look for a platform that has a range of different assets available. 
  • Demo accounts. The best trading platforms will offer demo accounts. These types of accounts let you practice your trading skills without risking any real money. You’ll also have the opportunity to test out a platform’s features while in simulation mode. 
  • Payment fees. Another way free trading platforms make money is through charging for deposits and withdrawals. The best platforms have no payment processing fees and if you plan on making lots of deposits or withdrawals, they can soon add up. 
  • Security. Free trading platforms are generally very secure but there is always the risk of them being compromised. To add an extra layer of security to your account you should use 2FA, which gives a unique one time passcode each time you log in. 
  • Leverage. Lots of platforms give users access to leverage. Leverage is a good way to magnify your gains but it can also make you blow your account very quickly. Using leverage is recommended to experienced or professional traders. 
  • Charting and analysis tools. If you like to conduct technical analysis when trading you’ll want to find a platform that has a good charting package with lots of analytical tools. Most free trading platforms offer these services, but some are better than others. 

Should I use a free trading platform?

Yes, using a free trading platform is often a good idea. Depending on the type of trading style you have can help you decide if a free trading platform is right for you. If you’re a day trader or scalper who makes lots of trades throughout the day then a free trading platform will almost certainly be a better option compared to other types of platforms. 

Free trading platforms have zero commission and when making lots of trades, commissions can quickly add up and eat into profits. You’ll also find a lot of other benefits when using these types of trading platforms. Most have advanced features and charting tools making analysing the markets a little easier. Ultimately, using a free trading platform or not will depend on your own trading style. 

What are the risks of using a free trading platform?

Free trading platforms are generally considered to be safe. It’s best to choose one which is properly regulated in your region. There are some risks involved with trading in general and below we’ve included the pros and cons of using a free trading platform.

Benefits

  • You can start with very little money from $10
  • Costs of trading a low
  • You can trade a wide range of markets from one platform  
  • Some platforms have social trading features like copy trading
  • Practice on a demo account before using live funds

Risks

What are the fees for using a free trading platform?

It’s usually free to register and use a trading platform. Most brokers that have free trading platforms don’t charge any commissions and make their money from the bid ask spread. You may also incur other costs like deposit and withdrawal fees. 

Methodology: How did we choose the best free trading platforms?

Our investment experts selected the platforms listed on this page following a strict evaluation process. This included testing each platform for the following processes: registering an account, downloading software, depositing funds, searching for an asset, placing a buy order, placing a sell order, and withdrawing funds. 

When comparing each platform we used a combination of our own research and online reviews. The free trading platforms listed above all have an in depth review on our website. Our rankings and reviews are not influenced by any brokers or platforms, however on occasion we may make a commission if you click on a list and register an account. 

You are able to view our full review process on this page

FAQs

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Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.