The Magento Community Edition is available as a free download under the open source OSL 3.0 license. Support for the Community Edition is not available commercially and the product is provided as-is.
Marketing Promotions and Tools
Flexible Coupons (pricing rules) with ability to restrict to stores, customer groups, time period, products, and categories.
Catalog Promotional Pricing
Analytics and Reporting
Admin Dashboard for Report Overview
Abandoned Shopping Cart Report
Best Customers Report by Total and Number of Orders
Search Engine Optimization
Google Site Map
URL Rewrites give full control of URL's
Meta-information for products and categories
Site Management
Control multiple websites and stores from one Administration Panel with ability to share as much or as little information as needed
Web Services API for easy integration between Magento and any third-party application
One-Click Upgrades
Google Website Optimizer Integration for A/B and Multivariate Testing
Catalog Management
Batch Import and Export of catalog
Google Base Integration
Downloadable/Digital Products
Advanced Pricing Rules and support for Special Prices (see marketing tools)
Catalog Browsing
Layered / Faceted Navigation for filtering of products in Categories
Layered / Faceted Navigation for filtering of products in Search Results
Product comparisons
Product Reviews
Product Browsing
Multiple Images Per Product
Product Image Zoom-in Capability
Mobile Commerce
iPhone Optimized
International Support
Multi-Lingual
Support for Multiple Currencies
Checkout
One-Page Checkout
Checkout without account/Guest Checkout
Shipping to multiple addresses in one order
Shipping
Shipping to multiple addresses in one order
Multiple shipments per order
Free Shipping
Payment
Integrated with Google Checkout (Level 2)
Payment Extensions Available through Magento Connect
Configurable to authorize and charge, or authorize only and charge on creation of invoices
Customer Service
Feature-rich Customer Accounts
Order Tracking from Account
Customer Accounts
Re-orders from account
Downloadable Products
Recently ordered items
Order Management
View, edit, create and fulfill orders from admin panel.
Create one or multiple invoices, shipments and credit memos per order to allow for split fulfillment
