RH Competitors

RobinHood Competitors in 2017

RobinHood Competitors

If you're paying too much in commissions at your current broker, you have found the right article. We're going to show you where you can pay $0 in commissions with one of the RobinHood competitors. That's right, there are several brokerage houses that actually have no trading fees; and it's not just Robinhood. This article will show you how to buy and sell securities while paying zero commissions.


This broker offers zero-dollar commissions on a limited number of stocks. There is a maximum investment of $5,000 per month, with a $2,500 limit on non-IPO equities. The firm takes all customer order requests and combines them into one daily order, which reduces its trading costs. The downside of this obviously is that your order may not, and probably won't, execute when you submit it. This could cause the execution price to differ, perhaps significantly, from where you submitted the order.

Fractional shares can be purchased at Loyal3. In fact, the minimum purchase amount with the broker is just $10. You can buy a stock like Apple or Tesla, both of which trade above $100, for just $10 and hold a fraction of a share. Fractional shares cannot be transferred to the firm, however. IPO's are also available at Loyal3.

While the broker appears attractive in some ways, it isn't currently accepting new account applications. It does have a waiting list, however. You can submit your e-mail address and Loyal3 will contact you when it begins accepting new traders again.

Read Loyal3 account review.

Merrill Edge No Commission Trades

Believe it or not, Merrill Edge offers commission-free trades in some cases. Even better, this broker doesn't skimp in other areas like Robinhood and Loyal3. Investors who have at least $25,000 in cash deposits in a Merrill securities account receive 30 free trades per month. That's 360 free trades a year! Both retirement and non-retirement accounts are eligible for this enticing offer.

Unlike Robinhood, Merrill Edge does offer trading in options. However, the broker does not offer free commissions for any account size.

Because Merrill is owned by Bank of America, the broker also offers its on-going commission special to bank customers who have the same amount in deposit accounts. Preferred Rewards Platinum clients also are eligible for the thirty free trades. To achieve this level, you have to have at least $50,000 in assets in combined Merrill Edge, Merrill Lynch, and Bank of America accounts.

Advancing to the next level, Preferred Rewards Platinum Honors, qualifies for 100 free trades every month. This tier requires $100,000 and comes with a host of other lucrative benefits, such as bank fee rebates and better interest rates on deposit accounts.

Read Merrill Edge account review.

Ally Invest Free Trades

While Ally Invest's standard equity commission is only $4.95, the broker nevertheless offers new customers free trades for 2 months. Depositing $500 into a new account garners 100 free trades, while a $5,000 deposit qualifies for $1,000 in commission credit. The promo for the first offer is TRADE500, while the second is FREE1000.

The new account must be opened by April 28, 2017, and the required funds must be deposited within 30 days. The commission credits can be used to pay for per-contract derivative fees, but not assignments and exercises.

The offer is not valid for current Ally Invest clients or anyone who has had an account with the broker in the past 30 days.

Read Ally Invest account review.

Promotion link: Get a $100 cash bonus or $500 in commission-free trades with Ally Invest.

TD Ameritrade No Commission Trades

New clients of TD Ameritrade can receive commission-free trading for 60 days. The broker requires a deposit of at least $3,000 to qualify for the special. The new funds must remain with TD Ameritrade for at least one year. This promo would be a good opportunity to try out the firm's excellent trading technology and customer service.

The special has a limit of 500 trades, and they can be used for stocks, ETF's, and options. However, per-contract, assignment, and exercise fees are extra.

In addition to the free trades, new customers can also earn a nice cash bonus. A $25,000 deposit qualifies for a $100 prize. A quarter of a million dollars earns the firm's highest award of $600.

TD Ameritrade also has 101 ETF's and more than 3,700 mutual funds that can be bought and sold without paying a dime in commissions.

Read TD Ameritrade account review.

Promotion link: Trade free for 60 days + get up to $600.

RobinHood and Competition Recommendation

Investors who just can't handle paying for trades can find what they're looking for at RobinHood and its competitors. For on-going commission-free trading, Robinhood looks like the best choice. Small investors can make little purchases would be best served at Loyal3. Ally Invest would be a good choice for short-term trading, while TD Ameritrade offers top trading tools and the best overall package.

Updated on 4/28/2017.

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