Best Free Stock Trading Apps

Looking for the best stock trading apps for free? Elevate your investment game with these top choices.

© CreditDonkey

Stock Trading Promotions You May Like

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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: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

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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.

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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.

Stock Trading Promotions You May Like

eToro USA LLC and eToro USA Securities Inc.

Deposit $100 and Get $10 from eToro USA LLC

For a limited time, you can get $10 when you deposit $100 in your eToro account. Here's how:

1. Sign up for an eToro account
2. Deposit $100

You'll automatically receive $10 directly to your account balance. Offer only applies to US customers. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation

Deposit $100 and Get $10

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Expires 12/31/2024

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: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Learn More

Read Review

Expires 7/19/2024

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.

Get Deal

Read Review

Expires 12/31/2024

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.

Get 1% Bonus

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Expires 6/28/2024

20 Free Fractional Shares

Open a new Webull individual brokerage account. Deposit $500 - $24,999 into the account during the promotional period to get 20 fractional shares, each valued between $3 - $3,000. Maintain your funds in the account for 30 days or more. Terms and conditions apply.

Get Free Fractional Shares

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Expires in 5 days

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

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The 9 Best Free Stock Trading Apps

© 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

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.

In terms of what you can trade, Robinhood offers stocks, ETFs, options, and cryptocurrency.

Get a Free Stock (worth between $5 and $200)

Click Here to Get a Free Stock

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.

If you're looking to set up an IRA, Robinhood offers one of the most unique ones on the market. They offer a match on top of your annual contribution limits.^[1] This gives you a nice little boost to your retirement savings.

The Robinhood app is very clean and beginner-friendly. When you're ready to trade, you won't be bombarded with jargon and charts that may overwhelm you.

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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Fidelity: Best All-Around App

Fidelity is a full-service investment firm, making it great for investors looking for a long-term brokerage to grow with.

They offer securities to a wide range of investors. In addition to stocks, you can trade ETFs, options, crypto, mutual funds, bonds, and more. It's a one-stop shop where you can trade almost anything and practically open any account.

Why choose Fidelity:
Fidelity 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

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 their user interface.

Also, Fidelity has higher fees than other platforms. This includes fees on options contracts, broker-assisted trades, and trading services offered via telephone.

Pros + Cons:

Webull: Best for Advanced Analysis Tools

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, ETFs, and options.

If you're looking to make quick, frequent transactions, Webull may be a good fit.

20 Free Fractional Shares

Click Here to Get Free Fractional Shares

Expires in 5 days

Open a new Webull individual brokerage account. Deposit $500 - $24,999 into the account during the promotional period to get 20 fractional shares, each valued between $3 - $3,000. Maintain your funds in the account for 30 days or more. Terms and conditions apply.

Why choose Webull:
Webull offers widely praised advanced charting tools and stock screeners. It also offers great technical analysis tools to help you make your investment decisions.

Webull also offers many 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).^[6]

• 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).^[7]

• 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^[8]

On top of that, Webull also offers a paper trading account. You get unlimited virtual cash and real-time market data, allowing you to test your strategies before committing real money.

Downsides:
If you're a complete beginner, you may find all the research tools on Webull a little overwhelming. All the charts and screeners could scare you away from trading entirely if you're new to it.

Pros + Cons:

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Expires in 5 days

Charles Schwab: Best for Multiple Platforms

Charles Schwab is one of the oldest names in investing, being established in 1973. With over 50 years of experience, they now have over 35.3 million accounts.^[11]

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,^[12] Charles Schwab users now have access to multiple platforms, including thinkorswim.

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

Additionally, if you plan to expand your investing into ETFs, Charles Schwab has some of the best ETF screeners on the market.

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.

The platform's margin rates are also higher than those of some of its competitors. As of April 2024, the margin rates on Charles Schwab range from 13.575 to 11.825%.^[13]

Pros + Cons

SoFi Invest: Best for Financial Advisors

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.

Why choose 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, 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.

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.

Also, the selection of investment products is limited. If you're looking to trade mutual funds, futures, currencies, and other assets, you won't find it on SoFi Invest.

Pros + Cons:

Interactive Brokers: Best for High Volume Trades

Interactive Brokers (IBKR) is one of the most complete investment platforms on the market. They offer stocks, options, futures, currencies, bonds, funds, crypto, and more on 150 global markets.

IBKR offers 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 the 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 IBRK Lite. Unfortunately, if you consider yourself to be a pro trader, you'll be charged commissions on your stock/ETF trades.

Pros + Cons:

Public: Best For Social Investing

Public is unique because of its social media platform, thematic investing, and alternative investments. It's tailored for beginners and social investors. It offers stocks, bonds, options, ETFs, treasuries, crypto, and royalties. It also provides investment plans and a high-yield cash account.

Commission Free Stock Trading

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Why choose Public:
Besides stocks, Public also 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 has a social community where you can follow popular traders and share ideas with other investors. This makes the whole process more inclusive, educational, and collaborative.

Public's thematic investing allows you to invest in themes that you like. Each theme contains ETFs that reflect the topic, so you can easily invest in companies that align with your values.

Downsides:
The only accounts available on Public are individual taxable and high-yield cash accounts. There are no IRA or joint account options.

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

E*TRADE appeals to both beginner and advanced investors with two mobile apps. It offers stocks, options, ETFs, mutual funds, futures, bonds, and CDs.

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 sophisticated investors, 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

E*TRADE also offers pre-built and automated portfolio builder options for mutual funds and ETFs. With these, you can choose how aggressively you want to be as an investor, and E*TRADE will recommend/build a portfolio. You can even customize them to focus on funds of your choice.

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.

If you're looking to trade crypto on E*TRADE eventually, the only way you'll be able to do so is through crypto ETFs. You won't be able to buy crypto directly.

Pros + Cons

Vanguard: Best for Retirement

Vanguard offers a wide variety of investment products. This includes stocks, ETFs, options, mutual funds, bonds, and more.

It's built for long-term, buy-and-hold investors. The platform also includes many educational tools that help you set financial goals and create roadmaps for achieving them.

Why choose Vanguard:
Vanguard offers a unique, client-owned structure. This means they aim to 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.^[26]

Vanguard is also 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.

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.

Additionally, Vanguard's mutual fund minimum investments are high. Investor Shares (Vanguard Target Retirement Funds and Vanguard STAR Fund) will require at least $1,000. Admiral Shares, on the other hand, will require at least $3,000.^[27]

Pros + Cons:

Other Good Investing Apps for Beginners

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, 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

CREDIT: ACORNS

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

Click Here to Get $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:^[28]

• 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 make investing easy for anyone. It 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.

Their Round-Ups feature automatically invests your spare change into expert-built portfolios. You need to choose how aggressive you want to be, and Acorns will invest it in a set of ETFs just 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

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.

Cost:^[29]

• 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.^[30]

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:

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.^[31]

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

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:

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.

Stock Trading Promotions You May Like

Get a Free Stock (worth between $5 and $200)

Get a Free Stock

Read Review

eToro USA LLC and eToro USA Securities Inc.

Deposit $100 and Get $10 from eToro USA LLC

For a limited time, you can get $10 when you deposit $100 in your eToro account. Here's how:

1. Sign up for an eToro account
2. Deposit $100

You'll automatically receive $10 directly to your account balance. Offer only applies to US customers. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation

Deposit $100 and Get $10

Read Review

Expires 12/31/2024

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: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Learn More

Read Review

Expires 7/19/2024

References