Best Free Stock Trading Apps
Looking for the best stock trading apps for free? Elevate your investment game with these top choices.
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| © CreditDonkey |
J.P. Morgan Self-Directed Investing - Get Up to $700
- Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
- $700 when you fund with $250,000 or more
- $325 when you fund with $100,000-$249,999
- $150 when you fund with $25,000-$99,999
- $50 when you fund with $5,000-$24,999
- Get unlimited commission-free online stock, ETF, fixed income, and options trades when you open an account.
- $0 Online Commission trades
- Choose an account that's right for you: General Investing, Traditional IRA or Roth IRA.
- Access our secure, easy-to-use trading experience online or through the Chase Mobile® app.
- Our powerful tools and resources are built to help you take control of your investments.
INVESTMENT AND INSURANCE PRODUCTS ARE:
M1 Investment Account - Up to $500 Bonus
Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening. Promotional credit will depend on the deposited value made into the account.
| Deposited Value | Promotional Credit |
|---|---|
| $10,000 - $29,999.99 | $75 |
| $30,000 - $49,999.99 | $150 |
| $50,000 - $99,999.99 | $250 |
| $100,000+ | $500 |
This offer is only for customers who have never registered for an M1 user account.
There's never been a better time to invest.
You can trade for free and have access to high-quality features. This includes research and analytics tools or even perks like practice trading accounts.
But which free stock trading app is right for you?
In this guide, find out which free stock trading apps are worth checking out, their pros and cons, and how safe they are.
| App | Best For | Notable Features |
|---|---|---|
| Robinhood | Beginners | Invest from $1; IRA match |
| Fidelity | All-Around Investing | Full-service broker; In-depth research tools |
| Webull | Advanced Analysis Tools | Stock evaluation tools; Paper trading |
| Charles Schwab | Multiple Platforms | Charles Schwab and thinkorswim platforms |
| SoFi Invest | Financial Advisors | Free financial consultations |
| Interactive Brokers | High-Volume Trades | Low commissions; Superb order execution |
| Public | Social Investing | Social/Thematic investing |
| E*TRADE | Active Traders | Two apps for beginners and experienced traders |
| Vanguard | Retirement | Tools/calculators for retirement; Returns on idle cash |
Deposit $100 and Get $10 from eToro USA LLC
- Sign up for an eToro account
- Deposit $100
J.P. Morgan Self-Directed Investing - Get Up to $700
- Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
- $700 when you fund with $250,000 or more
- $325 when you fund with $100,000-$249,999
- $150 when you fund with $25,000-$99,999
- $50 when you fund with $5,000-$24,999
- Get unlimited commission-free online stock, ETF, fixed income, and options trades when you open an account.
- $0 Online Commission trades
- Choose an account that's right for you: General Investing, Traditional IRA or Roth IRA.
- Access our secure, easy-to-use trading experience online or through the Chase Mobile® app.
- Our powerful tools and resources are built to help you take control of your investments.
INVESTMENT AND INSURANCE PRODUCTS ARE:
M1 Investment Account - Up to $500 Bonus
Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening. Promotional credit will depend on the deposited value made into the account.
| Deposited Value | Promotional Credit |
|---|---|
| $10,000 - $29,999.99 | $75 |
| $30,000 - $49,999.99 | $150 |
| $50,000 - $99,999.99 | $250 |
| $100,000+ | $500 |
This offer is only for customers who have never registered for an M1 user account.
1% Bonus to Transfer to Robinhood with No Cap
Earn a 1% bonus with no cap when you transfer your brokerage account to Robinhood, now through June 28, 2024. Terms apply.
Invest and Earn Up to $3,500
Enroll your new or existing TradeStation account in this offer by using promo code TSTVAGFD on your new account application, requesting to enroll via telephone or with a TradeStation Representative, or completing the enrollment form. Within 45 days of account enrollment, fund your account with at least $5,000. Maintain at least $5,000 in your account for 270 calendar days. New assets will be aggregated during the 45-calendar day period following the enrollment date to determine the amount of your cash offer.
| New Assets | Cash Bonus |
|---|---|
| $5,000 - $24,999 | $150 |
| $25,000 – $99,999 | $300 |
| $100,000 – $249,999 | $500 |
| $250,000 – $499,999 | $1,000 |
| $500,000 – $999,999 | $2,000 |
| $1,000,000 or more | $3,500 |
The 9 Best Free Stock Trading Apps
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| © CreditDonkey |
Here are the best free investing apps for different types of investors, whether you're a beginner, a hands-off investor, or need something more robust.
Robinhood: Best for Beginners
| Minimum Investment | Fractional shares starting at $1 |
|---|---|
| Tradable Assets | Stocks, ETFs, Options, American Depository Receipts (ADRs), and Crypto |
| Account Types | Individual Taxable, IRA (Traditional & Roth), Margin, Cash Management Account |
| App Store | 4.2/5 stars (4.3+ million reviews) |
| Google Play Store | 4.1/5 stars (487,000+ reviews) |
Robinhood was the first app to offer completely commission-free investing. This makes it perfect for beginners who want a no-frills approach to buying stocks. It lets you choose which stock you want to buy and what type of order you want to execute.
Why choose Robinhood:
Fractional shares on Robinhood let you start with as little as $1, allowing you to try stock trading even if you don't have a lot of capital. It's also free to use and offers commission-free trades.
With a clean and simple user interface, the Robinhood app is perfect for beginners looking for an entry point into stock trading. It teaches you the basic process of DIY stock trading but ensures you won't be bombarded with jargon and charts you don't understand.
Robinhood has also released an extended trading market that lets you trade 24/5. It's currently the only overnight market that offers single-share stocks alongside the usual limit orders. Just note that it's only available for a limited number of stocks.
Downsides:
Despite having access to professional research from Morningstar with Robinhood Gold, the research you get from the platform isn't as extensive as other options. Plus, the additional research you get from Morningstar is locked behind a paywall.
Another thing to note is that Robinhood has a history of controversy. This includes the freezing of the purchasing of certain stocks during the GameStop fiasco. For that, they were fined $70 million.[2]
Pros + Cons:
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Yes. Robinhood is great for beginners because it offers commission-free trades and requires no minimum investments. They even offer a first trade recommendation if you're trading for the first time.[3] Just remember to do research before selecting any investments.
Fidelity: Best All-Around App
| Minimum Investment | Fractional shares starting at $1 |
|---|---|
| Tradable Assets | Stocks, ETFs, Options, Mutual Funds, Crypto, U.S. Treasuries, CDs |
| Account Types | Individual Taxable, IRA (Traditional, Roth, SEP), HSA, 529, Custodial, Teen, Robo-Advisor, Cash Management Account, and more[4] |
| App Store | 4.8/5 stars (2.3+ million reviews) |
| Google Play Store | 4.4/5 stars (129,000+ reviews) |
Fidelity is a full-service investment firm, making it great for investors looking for a long-term brokerage to grow with.
The platform caters to many kinds of traders and investors and offers useful educational and research tools for nearly all experience levels.
It's basically a one-stop shop where you can trade almost anything and practically open any type of account.
Why choose Fidelity:
If you're someone who wants to do a deep dive into stock research and make informed decisions, Fidelity can help. It offers advanced research tools for stock evaluation like:
- Quotes on individual stocks, company financial statements, key company statistics, and more
- Key information like a stock's earnings, growth rates, dividend yield, and more
- News and research reports that'll help you keep track of the latest trends
- Stock screeners that let you quickly sort through extensive lists of stocks and pick one based on your criteria
If you're interested in global investing, Fidelity also offers access to international stocks. You can trade in 25 countries and exchange between 16 currencies.[5]
Downsides:
Fidelity's in-depth research can be a little overwhelming for beginners. The same applies to its user interface, which isn't as intuitive and beginner-friendly as other apps like Robinhood.
If you don't like trading online or prefer trading over the telephone, get ready to pay some hefty fees. Broker-assisted trades will cost you $32.95 per trade and Fidelity Automated Service Telephone (FAST) trades will set you back $12.95 per trade.[6]
Pros + Cons:
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Webull: Best for Advanced Analysis Tools
| Minimum Investment | Fractional shares starting at $5 |
|---|---|
| Tradable Assets | Stocks, ETFs, Options |
| Account Types | Individual Taxable, IRA (Traditional & Roth), Margin, Robo-Advisor, Cash Management Account, Paper Trading |
| App Store | 4.7/5 stars (298,000+ reviews) |
| Google Play Store | 4.3/5 stars (189,000+ reviews) |
Despite being established in 2017, Webull is already one of the most popular trading apps on the market. It's perfect for active traders and offers commission-free trades on stocks.
If you're looking to make quick, frequent transactions, Webull may be a good fit.
Up to $100 Transfer Fee Reimbursement
Transfer fees of up to $100 will be reimbursed when you make an initial transfer of $2,000 or more.
Why choose Webull:
If you like to do technical analysis to evaluate stocks, Webull may be best for you. It offers widely praised charting tools and stock screeners.
If you're a complete beginner, Webull is one of the few stock trading apps that offers a paper trading account. This lets you test your stock trading strategies with unlimited virtual money and real-time market data.
Webull also offers features for different types of traders:
- For day traders: Perform up to 3 day trades in a five-trading day period (unlimited for those with $25,000 or more in account balance).[7]
- For margin traders: Get access to margin trading at no extra cost and up to 4x buying power (you need at least $2,000 to qualify).[8]
- For short sellers: Short selling is supported on Webull.
- For active traders: Get long extended trading hours and keep your trades active even during non-regular hours[9]
Downsides:
Webull's research tools and interface may be a bit overwhelming. Comprehensive charts and screeners could be intimidating and scare you away from trading, especially if you're a beginner.
Pros + Cons:
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Charles Schwab: Best for Multiple Platforms
| Minimum Investment | Fractional shares starting at $5 (limited to S&P 500) |
|---|---|
| Tradable Assets | Stocks, ETFs, Options, Mutual Funds, Futures, Crypto, and more[10] |
| Account Types | Brokerage & Trading, Retirement, Checkings & Savings, Robo & Dedicated Advice, and more[11] |
| App Store (Schwab Mobile) | 4.8/5 stars (845,000+ reviews) |
| Google Play Store (Schwab Mobile) | 2.3/5 stars (25,000+ reviews) |
| App Store (thinkorswim) | 4.7/5 stars (324,000+ reviews) |
| Google Play Store (thinkorswim) | 2.9/5 stars (12,000+ reviews) |
Charles Schwab is one of the oldest names in investing, being established in 1973. With over 50 years of experience, they now have over 35.4 million accounts.[12]
It's a free-to-use, full-service brokerage that lets you trade stocks without commissions. There are also no trade minimums or hidden fees. Fractional shares are also available for as low as $5.
Why choose Charles Schwab:
Since Charles Schwab recently acquired TD Ameritrade,[13] Charles Schwab users now have access to multiple platforms, including thinkorswim.
Thinkorswim is one of the most powerful and customizable trading platforms on the market. It has robust charting and analysis as well as built-in insights and education.
Having multiple platforms means anyone—no matter how much trading experience you have—has something to gain from Charles Schwab. This includes:
- Educational resources for those just starting out
- Customizable platforms and tools
- 24/7 customer service
- Highly rated screeners
- Advanced analysis tools
Downsides:
Charles Schwab's fractional shares, also known as Stock Slices, are limited compared to some of the other platforms. They only let you own fractional shares of the S&P 500. Other platforms may have a more comprehensive selection.
If you like margin trading, you won't like that Charles Schwab's margin rates are higher than some of its competitors. As of April 2024, the margin rates on Charles Schwab range from 13.575 to 11.825%.[14]
Pros + Cons
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SoFi Invest: Best for Financial Advisors
| Minimum Investment | Fractional shares starting at $5 |
|---|---|
| Tradable Assets | Stocks, ETFs, Mutual Funds, Alternative Funds |
| Account Types | Individual Taxable, Robo-Advisor, Joint (Automated), IRA (Traditional, Roth, SEP)[15] |
| App Store | 4.8/5 stars (343,000+ reviews) |
| Google Play Store | 3.9/5 stars (34,000+ reviews) |
SoFi Invest lets you trade US-listed stocks on the NYSE, NASDAQ, NYSE American, and more. There are no minimum investments, account fees, or trading fees. Plus, fractional shares from $5.
The app lets you place trades, track the performance of your stocks, and give you access to real-time quotes. It even has social features that allow you to share your portfolio with other people on the app.
SoFi Invest: Active Investing with SoFi
Why choose SoFi Invest:
With SoFi, you can choose between DIY and robo-investing. If you prefer to be hands-off, they can create a diversified portfolio for you. From there, you only need to deposit money, and SoFi will do all the heavy lifting for you.
SoFi's automated investing feature is free, unlike other robo-advisors that charge a management fee. It can help you with investment planning, diversification, auto rebalancing, and recurring deposits.
And all SoFi members can get free consultations with a financial advisor. An expert can guide you based on your unique needs, including:
- Creating investment strategies based on your risk tolerance
- Building your budget by providing good spending habits
- Borrowing money the correct way
- Saving for the future as well as for emergency funds
Downsides:
SoFi's Active Investing offers just enough tools to do some light research and place simple trades. Unfortunately, this means they don't offer order types or short sales and only have a few customization options.
Pros + Cons:
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Interactive Brokers: Best for High Volume Trades
| Minimum Investment | Fractional shares starting at $1 |
|---|---|
| Tradable Assets | Stocks, ETFs, Options, Futures, Bonds, Mutual Funds, Hedge Funds, and more[17] |
| Account Types | Individual, Joint, Trust, IRA (Traditional, Roth, Rollover, SEP), Broker Client, and more[18] |
| App Store | 4.5/5 stars (8,000+ reviews) |
| Google Play Store | 4.7/5 stars (33,000+ reviews) |
Interactive Brokers (IBKR) is one of the most complete investment platforms on the market. They offer two free account tiers: IBKR Lite and IBKR Pro. The Pro version is geared towards high-volume traders, while the Lite version is for smaller, more frequent traders.
Why choose IBKR:
Because their platform is separated into two versions (Lite and Pro), you can choose the plan to minimize your trading cost. Their fixed and tiered prices on almost every security you can buy make it ideal for high-volume traders who want lower fees.
If you're an IBKR Pro user, they also have a SmartRouting feature that helps you look for the best prices on stocks, options, and combinations across exchanges and dark pools.[19]
Downsides:
Overall, the app can be complex for some users. The IBKR Trader Workstation (TWS), their flagship platform, could be intimidating because of all its bells and whistles.
If you want commission-free trades, you'll need to use IBKR Lite. Unfortunately, if you consider yourself to be a pro trader or like using IBKR Pro, you'll be charged commissions on your stock/ETF trades.
Pros + Cons:
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Public: Best For Social Investing
| Minimum Investment | Fractional shares starting from $5[20] |
|---|---|
| Tradable Assets | Stocks, ETFs, Crypto, US Treasuries, Royalties, Alternative Investments |
| Account Types | Individual Taxable, High-Yield Cash Account |
| App Store | 4.7/5 stars (69,000+ reviews) |
| Google Play Store | 4.1/5 stars (47,000+ reviews) |
Public is unique because of its social media platform, thematic investing, and alternative investments. It's also tailor-made for beginners and social investors.
It's one of the few platforms that lets you invest in alternative assets like fine art and collectibles. Some examples include rare sneakers, trading cards, and even artwork from Banksy. You can even invest in royalties on intellectual property like music.
Public's thematic investing also allows you to invest in themes you like. Each theme contains ETFs that reflect the topic, so you can easily invest in companies that align with your values.
Why choose Public:
Public has a social community where you can follow popular traders and share ideas with other investors. This adds a more inclusive, educational, and collaborative touch to your stock trading.
With Public, you won't have to worry about hidden fees. They require no minimum investments and offer commission-free trades. There are also no transaction fees and execution fees. For the fees it actually does charge, it's all laid out clearly in their fee schedule.
Downsides:
The only accounts available on Public are individual taxable and high-yield cash accounts. If you're looking to open other types like IRA or joint accounts, you won't find any on Public.
Public also lacks research and analysis tools. It doesn't have charting tools, stock screeners, or any other stock evaluation tools.
Pros + Cons:
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E*TRADE: Best for Active Traders
| Minimum Investment | Fractional shares starting from $5 (only available via robo-advisor/DRIP) |
|---|---|
| Tradable Assets | Stocks, ETFs, Options, Futures, Mutual Funds, and Bonds & CDs |
| Account Types | Individual Taxable, Core Portfolios, Premium Savings, IRA (Traditional, Roth, Rollover) |
| App Store | 4.6/5 stars (168,000+ reviews) |
| Google Play Store | 4.5/5 stars (44,000+ reviews) |
| App Store (Power E*TRADE) | 4.5/5 stars (8,000+ reviews) |
| Google Play Store (Power E*TRADE) | 3.5/5 stars (1,500+ reviews) |
E*TRADE is known as one of the world's largest online brokers. It offers a wide range of tradable assets and trading tools. It has two apps, appealing to both beginner and advanced investors.
Why Choose E*TRADE:
E*TRADE has something for every investor, no matter your experience level. For beginners, they offer the standard E*TRADE app. This includes all your basic functionalities like:
- Investment options like stocks, mutual funds, and options (with 2-,3-, and 4-legged spreads)
- Commission-free trading for US-listed stocks, ETFs, and options
- Market news and third-party research from Bloomberg TV
For more investors with more sophisticated strategies, they offer the Power E*TRADE app. On top of the benefits of the standard app, this includes features like:
- The ability to quickly trade stocks, ETFs, simple and complex options, and futures on a single ticket
- Execute strategies using customizable options chances (including custom and four-legged spreads)
- More info on market movement with streaming quotes, news, earnings, dividends, depth view, gains, and more
Downsides:
Fractional shares are only available through their robo-advisor (E*TRADE Core Portfolios) or dividend reinvestment plan (DRIP). So if you're starting with just a bit of capital or looking to diversify your portfolio, you won't have the benefit of fractional shares.
Remember to also watch out for miscellaneous fees. If you trade during E*TRADE's pre or post-market hours, there is a fee of $0.005 per share. There's also a $6.95 per trade fee for penny stocks.[22]
Pros + Cons
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Vanguard: Best for Retirement
| Minimum Investment | No fractional shares for stocks |
|---|---|
| Tradable Assets | Stocks, ETFs, Mutual Funds, Money Market, Bonds, CDs |
| Account Types | Individual & Joint Brokerage, Cash Plus, 529 Savings, Small Business, IRAs (Traditional, Roth), and more[23] |
| App Store | 4.7/5 stars (173,000+ reviews) |
| Google Play Store | 3.5/5 stars (9,400+ reviews) |
Vanguard is a platform that's built for long-term, buy-and-hold investors.
It has a unique, client-owned structure that helps you maximize your returns by minimizing costs. They even offer returns on idle cash by utilizing the VMFXX Federal Market Fund, which has an interest rate that's much higher than its competitors.[24]
Why choose Vanguard:
Vanguard is the best option for investors looking to save up for retirement. The app has several retirement planning tools and calculators that can give you a clear idea of your investments' long-term performance.
Since it's built for retirement, Vanguard offers many educational tools that can help you set financial goals and create roadmaps for achieving them. It also offers portfolio analysis. This lets you run on-demand diagnostics of portfolio risk and return drivers. From there, you can create custom reports and action plans.
Downsides:
Because Vanguard is built more for long-term investors, the platform lacks many tools an active trader will need. This includes charting tools and other research capabilities.
There's also no real-time streaming news on Vanguard. This is likely because their target customers should have a long-term philosophy. This essentially makes real-time news less relevant.
Pros + Cons:
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Other Good Investing Apps for Beginners
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All the apps listed above are free to use and have no stock trading fees. But if you're willing to shell out a little money, there are other apps worth considering, especially if you're a beginner.
If you aren't confident investing on your own or don't have the time/interest to manage your own portfolio, the small fee may be worth it. Here are a few options you could check out.
Acorns for Micro-Investing
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| CREDIT: ACORNS |
| Price | $3-9/month |
|---|---|
| Minimum Investment | Fractional shares bought with spare change |
| Tradable Assets | ETFs, Stocks (choices limited to larger companies) |
| Account Types | Individual, IRA (Traditional, Roth, SEP), Custodial Account |
| App Store | 4.7/5 stars (897,000+ reviews) |
| Google Play Store | 4.6/5 stars (311,000+ reviews) |
Acorns is a "spare change" robo advisor. This means it creates a portfolio based on your age, investment goals, and risk tolerance. It also takes care of the trading and managing for you.
All you need to do is link your credit and debit cards, and Acorns will automatically round up the change from your purchases and invest them into pre-built ETFs. This makes it perfect for hands-off investors who don't have time to do research. It's also great for those who have a "set-it-and-forget-it" approach.
$20 Investment Bonus
- Open an Acorns account (new users only)
- Set up the Recurring Investments feature
- Have your first investment be made successfully via the Recurring Investments feature
Cost:[25]
- Acorns Personal ($3/mo) - includes personal taxable account, IRA, and checking account
- Acorns Personal Plus ($5/mo) - includes everything in Personal, emergency fund, and 25% match on rewards
- Acorns Premium ($9/mo) - includes everything in Personal Plus, investment accounts for kids, 50% match on rewards, custom portfolio, Trust & Will, $10K Life Insurance, and free GoHenry account
Why choose Acorns:
Acorns recently introduced the ability to purchase individual stocks through their Custom Portfolios (only available on their Premium plan). This gives you more control over your already-diversified Acorns portfolio.
With their Round-Ups feature, you can automatically allocate funds to your selection of stocks. All you need to do is set how much of your Round-Ups will go to your Custom Portfolio and Acorns will invest it for you.
The app itself is very beginner-friendly. It has a clean and simple user interface that allows anyone to get started in micro-investing. All you need to do is link your cards, and it'll do all the heavy lifting for you.
Downsides:
Investment options on Acorns are limited. The automated investing account only invests in ETFs. You can buy individual stocks if you have the Premium plan, but the choices are limited to larger companies.
If you're looking for significant returns, Acorns likely won't be aggressive enough for you. Even the most aggressive options may still be on the more conservative side for many.
Pros + Cons
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Stash for Stock-Back Rewards
| Price | $3-9/month |
|---|---|
| Minimum Investment | Fractional shares starting from $0.05 |
| Tradable Assets | Stocks, ETFs |
| Account Types | Individual, Custodial, IRA (Traditional, Roth) |
| App Store | 4.7/5 stars (300,000+ reviews) |
| Google Play Store | 3.7/5 stars (100,000+ reviews) |
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| CREDIT: STASH |
Stash is a personal finance app designed for beginners. You can learn, save, and invest all from one app.
As soon as you answer questions about your goals, risk tolerance, and interests, the app gives you investment recommendations. It'll help you build a personalized, diversified portfolio based on your financial goals.
Stash: Sign Up and Get $5
- Sign up, add at least $5 to your account and get a $5 bonus.
- Invest with fractional shares
- Get portfolio recommendations
Cost:[26]
- STASH Growth ($3/mo)
- STASH+ ($9/mo)
The Growth plan includes basic advice for beginner investors, a managed account, a retirement account, and banking access. While the Stash+ plan also includes advice for family finances and kids' portfolios.
Why choose Stash:
Stash offers a Stock-Back Card that allows you to gradually invest with purchases you make with your debit card. By making qualifying purchases, you can earn up to 1% stock back every time you spend.[27]
The cost of the card is already included in what you pay for their monthly subscription. It's a great way to "invest without thinking" with your purchases.
Downsides:
If you're looking for human advisors to guide your investment journey, you won't find any at Stash. Their offering of personalized advice is limited to guides and how-to articles.
Pros + Cons:
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Are Free Stock Trading Apps Safe?
Yes, trading apps are safe as long as the brokerage is a member of the SIPC and registered with the SEC.
The Securities Investor Protection Corporation insures your investments up to $500,000 per account type, should the brokerage fail. The SEC is a government agency that regulates the U.S. stock market and protects investors from misconduct.
Most brokerages are also members of FINRA. This is a regulatory authority that makes sure the broker-dealer is operating fairly and honestly. By visiting BrokerCheck, investors can conduct research on the professional backgrounds of brokers, brokerages, investment adviser firms, and advisers.[28]
In addition to these regulatory measures, make sure the brokerage has security measures such as 256-bit AES encryption.
How to Pick a Free Stock Trading App
While the word "free" can be enticing, there are a lot of factors to consider before using one. Always do your due diligence and make sure that the app makes sense for your situation. Here are some things you should take note of:
- Fees
Just because they're "free" doesn't mean there aren't any hidden fees. Consider all costs when choosing an app to trade stocks on. - Educational content
Are you just starting? Make sure the investment app you choose has an extensive educational library that will not only teach you how the platform works but also investing basics. - Stock evaluation tools
Stock evaluation tools are essential for those who like to do their own research to make their investments. Whether it's charting tools, screeners, or real-time market updates, make sure that the app provides enough information for you to make your decisions. - Automated investment tools
If you like to be more hands-off with your investments, robo-advisors can be crucial. Be sure to pick an app with a good robo-advisor to help you make trades and manage your portfolio.
Pros & Cons of Free Stock Trading Apps
Pros:
- No commissions (you don't lose earnings to trading fees)
- Trade anywhere on the go
- Many apps support fractional shares (start with just a few dollars)
- Accessible to beginners
Cons:
- Limited investment offerings for some apps
- Some basic free trading apps may not have enough research and analysis to make informed decisions
- No trading fees may encourage inexperienced investors to get carried away
Savings vs Investing Calculator
Wondering how much you can make from stock trading compared to saving? Here's a savings vs. investing calculator that can help you visualize how much you can earn:
Here's how to use the calculator:
- Enter your initial investment or your current balance
- Set your regular contributions
- Input how many years you plan on growing your investment
- Add the interest rate for both your savings and investments
From there, just click "Calculate Compound Interest" and you'll see how much you can earn in the growth time specified.
FAQs
How do commission-free stock apps make money?
Commission-free stock apps usually make money through payment for order flow (PFOF), margin lending, interest on your uninvested cash, and premium services.
Is commission-free trading good?
Commission-free trading is suitable for all traders—no matter how experienced. You don't lose any profits to trading fees, making investing more accessible, especially for smaller investors.
How can I practice stock trading for free?
You can practice stock trading using a paper trading account. For example, Webull offers a free paper trading account with unlimited virtual cash and real-time market data. This allows you to test your trading strategies before putting any money down.
What Experts Say
CreditDonkey assembled a panel of industry experts to answer readers' most pressing questions.
Here's what they said:
Methodology
To create this list of free stock trading apps, we first verified that the apps were truly free to use. This meant no hidden fees, monthly/subscription fees, and no commissions on trades.
We also looked at how beginner-friendly each app is. Free stock trading apps are great for all types of traders, but we made sure that investors who are just starting out will have excellent options on this list.
Next, we examined each individual app and checked which features would help with different aspects of stock trading. Since every investor has different preferences, we made sure to cater to them.
Lastly, we looked at the features that made each app unique. We looked at what makes each app stand out and made sure that these special features were highlighted in case it catered to a specific trading style.
Bottom Line
Your choice of app will ultimately depend on what you need. Are you looking for something that can help you bank and invest simultaneously? Do you need advanced tools for stock evaluation? Do you prefer DIY or hands-off investing?
Be sure to figure out your individual needs as an investor before opening an account. Knowing what you need could save you the headache of switching accounts in the long run.
Deposit $100 and Get $10 from eToro USA LLC
- Sign up for an eToro account
- Deposit $100
J.P. Morgan Self-Directed Investing - Get Up to $700
- Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
- $700 when you fund with $250,000 or more
- $325 when you fund with $100,000-$249,999
- $150 when you fund with $25,000-$99,999
- $50 when you fund with $5,000-$24,999
- Get unlimited commission-free online stock, ETF, fixed income, and options trades when you open an account.
- $0 Online Commission trades
- Choose an account that's right for you: General Investing, Traditional IRA or Roth IRA.
- Access our secure, easy-to-use trading experience online or through the Chase Mobile® app.
- Our powerful tools and resources are built to help you take control of your investments.
INVESTMENT AND INSURANCE PRODUCTS ARE:
References
- ^ Robinhood. IRA match FAQ, Retrieved 04/09/2024
- ^ The New York Times. Robinhood is fined $70 million over misleading customers and system outages., Retrieved 04/09/2024
- ^ Robinhood. First trade recommendations, Retrieved 04/09/2024
- ^ Fidelity. Open an account, Retrieved 04/17/2024
- ^ Fidelity. International Stock Trading, Retrieved 04/10/2024
- ^ Fidelity. Brokerage Commission and Fee Schedule, Retrieved 05/07/2024
- ^ Webull. What's The Difference Between Margin And Cash Account?, Retrieved 04/09/2024
- ^ Webull. Margin Trading, Retrieved 04/09/2024
- ^ Webull. Can I trade during extended hours on Webull?, Retrieved 04/04/2024
- ^ Charles Schwab. Investment products at Schwab., Retrieved 04/24/2024
- ^ Charles Schwab. Types of Accounts, Retrieved 04/24/2024
- ^ Charles Schwab. Charles R. Schwab, Retrieved 05/16/2024
- ^ Charles Schwab. The Charles Schwab Corporation to Acquire TD Ameritrade, Retrieved 04/10/2024
- ^ Charles Schwab. Schwab margin rates and requirements, Retrieved 04/10/2024
- ^ SoFi. What types of SoFi Invest accounts do you offer?, Retrieved 04/17/2024
- ^ SoFi. Types of Investments With SoFi Invest, Retrieved 04/09/2024
- ^ InteractiveBrokers. Discover a World of Investment Opportunities, Retrieved 04/24/2024
- ^ InteractiveBrokers. Name of the page or article, Retrieved 04/24/2024
- ^ Interactive Brokers. Dedicated to Best Price Execution, Retrieved 04/24/2024
- ^ Public. What is the minimum amount to invest in stock?, Retrieved 05/03/2024
- ^ CNBC. Morgan Stanley to buy E-Trade for $13 billion in latest deal for online brokerage industry., Retrieved 04/10/2024
- ^ E*TRADE. Pricing and Rates, Retrieved 9/29/2023
- ^ Vanguard. Accounts & Plans, Retrieved 04/24/2024
- ^ Vanguard. Your cash deserves a good home, Retrieved 04/10/2024
- ^ Acorns. Pricing, Retrieved 9/29/2023
- ^ Stash. Pricing, Retrieved 04/10/2024
- ^ Stash. Shop like an investor., Retrieved 04/10/2024
- ^ FINRA. BrokerCheck, Retrieved 9/29/2023
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