Apps to Buy US Stocks without Commission Fees

yjun355 on 05/03/2021 - 10:38

Just wondering if there are now apps to buy US stocks without commissions? Similar to SuperHero we have where first $5K is free.

Financial

Comments

  • donga100 on 05/03/2021 - 10:54
    +1

    Stake doesn't have trading fees/commissions but you get stung a little bit on the initial currency exchange rate when you deposit funds.

    • NatoTomato on 05/03/2021 - 12:09

      Unless you deposit when the AUD is low, and withdraw when high. I think I made another 10% on my gains when I withdrew my USD to AUD.

    • T-man on 06/03/2021 - 19:20

      And withdraw funds

  • dazweeja on 05/03/2021 - 11:23

    I think eToro does this but I don't have any experience with them. I have used Tastytrade but they're a pain to deposit funds into.

  • nhylated on 05/03/2021 - 11:26
    +1

    eToro, IG Markets, CMC, Interactive Brokers all have $0 brokerage fees for US stocks. But like the other user commented, they charge slightly higher forex conversion rate. Depending on your trading volume and amount, that may not be an issue. YMMV.

    There are other factors too that you should consider like account maintenance / inactivity fees & fund deposit via card / bank transfer. Check the brokerage websites or finder.com.au for comparision.

  • fullmetal on 05/03/2021 - 12:37
    +2

    I use Charles Schwab international account. Money transfer through wise.

  • whooah1979 on 05/03/2021 - 15:04
    +1

    apps to buy US stocks without commissions?

    If people don't pay for the product then they're the product.

    Brokers that don't charge trading fees sell your orders to 3rd parties so that they can front-run. Traders save $5 per trade but lose $100s or $1000s on slippage.

  • idjces on 05/03/2021 - 17:04

    Slight thread highjack

    What do people use for options trading in US stocks?

    Stake doesn't offer this yet. I don't think Robinhood is available to us either

    • dazweeja on 06/03/2021 - 17:33
      +1

      I use Interactive Brokers but I've also used Tastytrade. The TT desktop app is much better than IB in my opinion. The main reason I use IB is for the API. They also have different commission structures with TT being slightly cheaper on paper, but I think I get better fills with the adaptive algos on IB. I haven't really examined this aspect thoroughly though.
      I'm happy to answer any other questions because I'm quite into options at the moment ;)

      • [Deactivated] on 27/06/2021 - 15:50

        What minimum deposits do IB need in order to trade options or if I wanted to trade at any time frame (like day trading).

        Website mentions both $10000 to $25000.

        • dazweeja on 27/06/2021 - 17:01

          I deposited $AU20K so $US10K is probably correct.

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