Free Investing Apps
Want to invest but don't want to pay trading or subscription fees? Check out these free investing apps and start today.
 |
The 5 best free investing apps are:
- Fidelity for best all-around app
- Robinhood for beginners
- Webull for analysis tools
- SoFi Invest for financial advisors
- Public for social investing
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:
20 Free Fractional Shares
Open a new Webull individual brokerage account. Make a single initial deposit of $500 - $1,999.99 during the promotional period to get 20 fractional shares, each valued between $3 - $3,000. Maintain a balance of $500 - $1,999.99 in the account for 30 days or more. Terms and conditions apply.
Get $30 Bonus with Wire Deposits
Receive a $30 cash coupon when you reach a net accumulated monthly wire deposits of $10,000 or more.
Investing apps have made it easy for anyone to start investing, from anywhere. Many have become free to use, erasing the barrier to entry into the investment world.
Now, because there are so many free investment apps, you can pick up your phone, download an app, and start trading.
But are they all good? Read on for the best free trading apps on the market. Plus, learn what makes each so unique.
Top 5 Free Investing Apps
The best app for you depends on your investment needs. Are you a beginner or more advanced trader, or do you want to be hands-off? Do you want to trade stocks or mutual funds? Keep these in mind as you scroll through the list.
Yes. Many online brokers allow you to buy and sell stocks with no trading fees. You don't have to be rich, with many of these platforms letting you buy stocks and ETFs for just a few dollars.
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[1] |
| App Store | 4.8/5 stars (2.3+ million reviews) |
| Google Play Store | 4.4/5 stars (128,000+ reviews) |
Fidelity is a full-service investment firm that allows you to buy a wide range of assets via web browser, mobile app, and desktop app. There are no trade commissions, minimums, or account fees.
Why we like Fidelity:
If you're planning on investing in mutual funds, Fidelity is your best option. Through their FundsNetwork, they offer over 10,000 mutual funds to invest in. These include over 3,000 no-transaction-fee funds (NTFs).
Additionally, with how comprehensive the platform is, Fidelity can be your one-stop shop for all your investing needs. It has pretty much any type of asset you'll ever want to trade and every type of account you might need.
Fidelity also has advanced in-depth research tools like:
- Quotes on individual stocks, company financial statements, key company statistics, and more
- Key information like stock earnings, growth rates, dividend yields, and more
- News and research reports that help you stay on top of the latest trends
- Stock screeners that let you sort through extensive lists of stocks and pick one based on your criteria
Pros + Cons
|
|
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 (485,000+ reviews) |
Robinhood is a simple investing app that's tailor-made for beginner DIY investors. It's free to use and requires no minimums to open.
They offer commission-free trades and you can buy stocks with as little as $1.
Why we like Robinhood:
If you're looking to open a retirement account, Robinhood offers matching contributions on their IRAs. This is the first IRA to give you extra money for every eligible dollar you contribute, including all IRA transfers and old 401(k) rollovers.
The Robinhood app is also clean and beginner-friendly. New investors won't be bombarded with jargon and charts that might overwhelm you.
You also have educational and research tools like investment education modules, Robinhood Learn, real-time market updates, side-by-side stock comparisons, and prices paid by other Robinhood investors.
Pros + Cons
|
|
If you're looking to trade yourself (DIY), Robinhood and Public are great for any beginner. They offer simple, easy-to-navigate user interfaces and make trading as straightforward as possible. If you want your portfolio managed for you, look to a robo-advisor like Acorns and Betterment.
Webull: Best For 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 (297,400+ reviews) |
| Google Play Store | 4.3/5 stars (189,000+ reviews) |
Although it's a relatively new player in the market, Webull has quickly risen as one of the best platforms to use for investing.
On top of commission-free trades and zero account minimums, Webull has support for advanced trading strategies. This includes short selling, margin trading (up to 4x buying power), and day trading (up to 3 day trades in 5 business days) for accounts with less than $25,000.
Why we like Webull:
Webull offers a free practice trading account that includes unlimited virtual money and real-time market data. This lets you simulate trades, plan out strategies, and see how they pan out.
Webull also offers some of the most advanced charting and technical analysis tools on the market. This makes it perfect for those who like to dive deep into research to make their own investment decisions.
These tools include:
- Real-time market quotes
- Price alerts (for stocks on your watchlist)
- Stock screeners
- Market data from 5 categories and 100+ exchanges
- 50+ technical indicators
- Analyst ratings
- Video replay (for historical price stock action)
Pros + Cons
|
|
20 Free Fractional Shares
Open a new Webull individual brokerage account. Make a single initial deposit of $500 - $1,999.99 during the promotional period to get 20 fractional shares, each valued between $3 - $3,000. Maintain a balance of $500 - $1,999.99 in the account for 30 days or more. Terms and conditions apply.
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)[3] |
| 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, 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 let you share your portfolio with others on the app.
Why we like SoFi Invest:
With SoFi, you can choose between DIY and robo-investing. If you prefer to be hands-off, they will create a diversified portfolio for you. From there, all you need to do is 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.
And all SoFi members can get free consultations with a financial advisor. An expert can give you guidance 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
Pros + Cons
|
|
Public: Best For Social Investing
| Minimum Investment | Fractional shares starting from $5 |
|---|---|
| Tradable Assets | Stocks, ETFs, Crypto, US Treasuries, Royalties, Alternative Investments |
| Account Types | Individual Taxable |
| App Store | 4.7/5 stars (68,000+ reviews) |
| Google Play Store | 4.2/5 stars (47,000+ reviews) |
Public is a free trading app that takes a social approach to investing. On top of stocks and ETFs, they even offer alternative investments like fractional shares of art and collectibles.
Why we like Public:
Public has a social aspect that not many other platforms have. Think of it as LinkedIn, but for investing.
You can follow traders you like, see what they're trading, and even contact them. This allows you to build a social feed of investors to learn from and collaborate with.
Not sure what to invest in? The app has a wide range of pre-built themes, like Artificial Intelligence, Space Exploration, and American Made. This makes it easy to invest in companies that align with your goals and passions.
Pros + Cons
|
|
Yes. Many platforms (like Robinhood) offer fractional shares for as low as $1. Let's say a stock of a popular company is $300/share. Instead of needing $300 for a single share, you can buy just $1 of the stock and own a very tiny piece of a share.
How To Choose A Free Investing App
Each free investing app will cater to different types of traders. Make sure to consider these important points before trading on a particular investment app:
- Tradable assets
Each app will let you trade a different range of assets. Most will offer the basics like stocks, options, or ETFs. Some may have wider selections like mutual funds, bonds, and cryptocurrencies, or even niche assets like fine art.Before you pick a free investing app, figure out what you want to trade and if you're going to stick to that asset long-term.
Are investing apps safe?
Yes. If the investing app is registered with the SEC and FINRA, it's a good indication that it's a legitimate broker. Most trustworthy brokerages are SIPC-insured and cover up to $500,000. Just remember that it doesn't protect you against the decline in the value of your assets due to market loss. - Research and investment tools
If you like doing deep dives on data behind the stock before investing, you may want an app like Webull, which offers advanced research and analysis tools.But if you're just starting out, you may like something like Robinhood or Public more. Although they have fewer research and analysis tools, they're more beginner-friendly and simplify the investing process a little bit more.
Figure out which of the two types of investors you are and select an app that fits that trading style.
- Extra features
All investing apps essentially allow you to do the same thing: trade assets. Where they'll differ mostly are in the features they add around that basic functionality.Public, for example, adds a social aspect and offers thematic investing. Webull has a paper trading account. Make sure to take a look at what each app has to offer before settling on one.
Methodology
To come up with this list of free investing apps, we first made sure the apps were truly free to use. This means no monthly or subscription fees, and no commissions on trades.
Next, we looked at each individual app and what assets are available. Every investor will have different preferences. So no matter what you like to trade (stocks, crypto, or even alternatives), we made sure that there was an option for you on this list.
Lastly, we looked at the unique features that each free investing app offered. We looked at features that would make it easy for those just starting out and extra tools that experienced investors could appreciate.
Yes. None of the apps mentioned above have any monthly or subscription fees. All of them also offer commission-free trades, meaning you don't pay any fees for buying and selling. Just note that these apps may charge for additional services like wire transfers, paper statements, and more.
What the Experts Say
CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:
Bottom Line
When it comes to investing apps, you have a ton of options that won't hurt your wallet. Many apps are free to use, beginner-friendly, and won't charge you commissions on trades.
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:
20 Free Fractional Shares
Open a new Webull individual brokerage account. Make a single initial deposit of $500 - $1,999.99 during the promotional period to get 20 fractional shares, each valued between $3 - $3,000. Maintain a balance of $500 - $1,999.99 in the account for 30 days or more. Terms and conditions apply.
Get $30 Bonus with Wire Deposits
Receive a $30 cash coupon when you reach a net accumulated monthly wire deposits of $10,000 or more.
Ultimately, it all boils down to the type of trading you like to do:
- If you want a one-stop shop for all your investing needs, Fidelity could be a great option for you.
- If you're just starting out, Robinhood and Public have a ton of beginner-friendly tools and features that could help you kick-start your investing journey.
- If you need advanced research tools or want support for more complex trading strategies, Webull is probably your best bet.
Each investor has a different set of needs, so be sure to reflect on that before choosing a free investment app. Take the time to research each app's features, read reviews, and then you can start investing responsibly.
References
- ^ Fidelity. Open an account, Retrieved 04/17/2024
- ^ CNET. Robinhood backlash: What you should know about the GameStop stock controversy, Retrieved 02/13/2024
- ^ SoFi. What types of SoFi Invest accounts do you offer?, Retrieved 04/17/2024
- ^ SoFi. Types of Investments With SoFi Invest, Retrieved 04/17/2024
Write to Iggi Vargas at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
|
