Full-service broker. Merrill Edge customers who enroll in Preferred Rewards (from Merrill’s parent, Bank of America) can qualify for up to 30 free stock trades a month. There’s a catch: You’ll need to maintain at least $50,000 in combined monthly balances at Merrill and BofA. Stashing at least $100,000 with the firm gets you up to 100 free trades a month. Either way, customers also qualify for perks such as cash-back bonuses on credit cards and lower rates on car loans and mortgages.
Discount broker. Robinhood, an online-only brokerage launched in 2015, offers commission-free stock trading on its mobile app (available for Apple and Android devices). There’s no minimum deposit to open an account, and placing a trade takes just a few taps and a swipe on your device. The drawbacks: You can trade only stocks and exchange-traded funds through the app, and you won’t get any research or tools. For accounts with less than $25,000, Robinhood also limits day trading—buying and selling the same stock in the same day.
Limited-time offers. Fidelity and Schwab provide free trades for up to two years as a bonus for opening a new account. Fidelity dishes out 300 commission-free trades if you deposit between $50,000 and $99,999, and up to 500 free trades if you stash $100,000 or more. At Schwab you get up to 500 free trades with a deposit of $100,000 or more. Both firms earned high scores in Kiplinger’s 2017 survey of online brokers (see We Pick the Best Online Brokers).
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
-
Stock Market Today: Stocks Close Mixed Amid War Angst, Nvidia AnxietyMarkets went into risk-off mode amid rising geopolitical tensions and high anxiety ahead of bellwether Nvidia's earnings report.
-
What the Comcast Cable Spinoff Means for InvestorsComcast has announced plans to spin off select cable networks and digital assets into a separate publicly traded company. Here's what you need to know.
-
Roth IRA Contribution Limits for 2024 and 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How to Figure Out How Much Life Insurance You Needinsurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
-
Five Reasons You Shouldn't Shop on Amazon Prime DaySmart Buying Think twice before getting lured into buying a bunch of stuff you don't need just because it's on sale.
-
Amazon Big Deal Days Is Coming! We’ve Got All the DetailsAmazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
