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Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for Motley Fool Money and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column for the Motley Fool ("Ask a Fool") that is syndicated in USA Today, and his work with Motley Fool Money has also been syndicated to MSN and Yahoo! Finance. He has been regularly featured on Fox Business and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including NerdWallet and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column. She is based in St. Petersburg, Florida.
Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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Free stock trading apps make it easy to trade. But the best of them let you do all your trading on your phone, including advanced trades. You can sign up in minutes, buy on the go, and check how your stock is doing at a glance.
Motley Fool Money considered more than a dozen points across 45 brokers to determine the best free stock trading apps. We looked for apps that offer commission-free trades and are transparent about other costs. The platforms we've chosen also have low or no minimum investments, making it easy to start investing without much money.
Other factors we consider include ease of use based on our team's experience and what online reviewers say, mix of account types and investment choices, customer service access, and security features.
Our team of experts assessed 45+ trading platforms
We evaluate all brokerage accounts across the same 4 key criteria: user experience, cost efficiency, product variety, and support and security
Our brokerage ratings are never influenced by our advertising partners
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased
2 Featured Picks From Our Best Free Stock Trading Apps
We've highlighted a short list of free stock trading apps below, in case you're short on time:
SoFi Active Investing: Exceptional brokerage for keeping all your financial accounts in one place
E*TRADE: Great brokerage for both active traders and long-term investors
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best For:
No-frills stock and options trading
Commission:
$0 for stocks, ETFs, and options; up to $5 monthly for Robinhood Gold
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best For:
For a user-friendly full-featured broker
Commission:
$0 commission for online U.S. stock and ETF trades. No fees to buy fractional shares.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best For:
Full-featured broker with lots of investment choices
Commission:
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
SoFi Invest delivers for investors a full-service financial institution in an app, in addition to a great trading platform and experience.
Special Offer
For new accounts: Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.
Get up to $1,000 in stock when you fund a new Active Invest account.⁷
We tried it: Brittney's review of SoFi Active Investing
"The SoFi Active Investing app is fairly easy to use, especially compared to some other apps I've used. It wasn't hard to figure out where to go to buy stock and see my portfolio. And I liked the free stock I got for opening an account; it was from a fairly well-known company that I was curious about anyway. (Some apps give you stock you've never heard of or would never buy.)"
- Brittney Myers, writer at Motley Fool Money
Pros
Low costs
Fractional share trading³
Access to new IPOs
Cons
Light on trading tools
Not for active trading
Few investing resources
Why SoFi made the list: SoFi's free app provides many different banking products and services, including a brokerage platform where users can buy and sell stocks and options with no commissions.¹ It offers some unique perks, especially among free trading apps, such as access to new IPOs, commission-free options trading,⁴ and more.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
E*TRADE sports two of the best stock trading apps: one that shines for its ease-of-use, and one tailored to advanced active traders.
Special Offer
Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, depending on the size of your deposit. Offer good for one use per customer, on a single account.
"I love the 'Add to Watchlist' feature on individual stocks within the E*TRADE app. And while I like that they include news, earnings, and jobs reports, it's more info than I, as a pretty passive trader, usually need."
- Alexi Ueltzen, Editor/Analyst at The Motley Fool
Pros
Two excellent trading platforms
Lots of accounts available
Investment choices
Cons
Not the simplest
Options commissions
Why E*TRADE made the list: E*TRADE was one of the pioneers of online stock trading, and while it is best known for its desktop and web-based platform, it also offers one of the best trading apps among the full-featured brokers. It offers excellent research and screening tools, as well as a top-rated advanced trading platform (Power E*TRADE) that is available as a separate app and is free to use for E*TRADE customers.
E*TRADE has two excellent free mobile trading platforms. Its main app is great for most investors, but there's also the free Power E*TRADE app that has an excellent advanced trading platform.
You can open up most account types through E*TRADE, including individual and joint brokerage accounts; traditional, Roth, SEP, andSIMPLE IRAs; and many others. Additionally, many other free trading apps don't allow for mutual fund or bond trading, but E*TRADE does.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Robinhood offers a user-friendly mobile trading app that allows trading in stocks, options, and cryptocurrencies.
Fees:
$0 for stocks, ETFs, and options; up to $5 monthly for Robinhood Gold
"My favorite Robinhood feature is access to all your notifications in one place. These include buy/sell requests, buy/sell completions, shareholder updates, and Robinhood app updates. Less fun, it also includes things like margin call warnings. Robinhood feels video-gamey in a good way."
- Cole Tretheway, writer at Motley Fool Money
Pros
Free features
Easy to use
Retirement match
Cons
Few advanced trading tools
No access to research reports without a subscription
Why Robinhood made the list: Robinhood was a pioneer in the free trading app industry, and it still shines today. It remains one of the only places to trade not only stocks but options and cryptocurrencies with no commissions, and fractional share trading is offered on the platform. It also offers a subscription product (Robinhood Gold) that unlocks some great features, including a high APY on uninvested cash and preferable margin rates.
Some of the rare perks Robinhood offers include retirement benefits. Not only does Robinhood offer IRAs, but it also offers unique features such as a 1% match on contributions (more for Robinhood Gold members).
Robinhood also features commission-free stock, option, and cryptocurrency trading, a rare trio among free trading apps.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Webull offers a user-friendly stock investing platform with more features than some of its app-based rivals.
"I've had my Webull trading account for three years and primarily did my trading using my mobile device. I love that the app allows you to check your individual account's risk level based on your investments. However, I felt it wasn't as user-friendly when I first started trading, and it took some adjusting. Other trading platforms have offered walkthroughs of their platforms, which made a difference for me."
- Sharice Wells, Editor at The Motley Fool
Pros
No commissions
IRA investing available
Built for active traders
Cryptocurrencies available
Cons
Lack of educational resources
Doesn't offer mutual funds, bonds, or CDs
Why Webull made the list: Webull is designed to be the best free app-based platform for active and experienced stock traders, and it does a good job of it. It offers some advanced trading tools that other free mobile-first platforms don't, and it is one of the few platforms where you can trade options completely free with no per-contract fees. It offers IRA investing for retirement and has a few cryptocurrencies available for trading on the platform.
Webull offers $0 commission trading, even on options, where it doesn't charge a per-contract fee. And unlike some of the free app-based investment platforms, Webull offers traditional and Roth IRAs. Webull also offers Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and several others through its Webull Pay App.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Public is an investing platform that simplifies trading stocks, bonds, ETFs, options, and crypto. With zero fees on many trades, Public stands out as a low-cost brokerage, while also providing yield-focused products to help you earn returns on your cash.
Why Publicmade the list: Public makes it easy to cheaply diversify your investment portfolio, and diversification is one of the best ways to ensure your investments are profitable long term. You can buy options, fractional bonds, and stakes in music royalties, among other things. (Stocks and ETFs are commission free.)
A standout feature is the high-yield cash account, which offers one of the best APYs out there as of writing. Few brokers offer FDIC-insured accounts with such competitive returns.
A feature worth mentioning is Public Investment Plans. In many ways, it's the ultimate culmination of fast, easy diversification. You choose from dozens of themed portfolios or create your own custom portfolio. Then, you can set up recurring deposits into these for however much you want (i.e., $5 weekly or $500 daily).
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Fidelity is one of the largest and one of the most well-rounded brokerages available in the US today. Importantly, Fidelity offers $0 commissions for online stock and ETF trades, plus one of the best online trading apps that's good for both beginners and seasoned investors.
Fees:
$0 commission for online U.S. stock and ETF trades. No fees to buy fractional shares.
"The 'Transact' page on the Fidelity app could not be better designed. From that single page, you can do everything from deposit checks and make trades to chat with customer service. It's such a clean and user-friendly site that beginners would not immediately feel lost."
- Dana George, writer at Motley Fool Money
Pros
Fractional share investing available
International trading available
Variety of account types
Cons
Options commissions
Margin rates above industry average
Why Fidelity made the list: Fidelity offers one of the highest-rated free stock trading apps among the full-featured online brokers. It has few account fees, the ability to trade on 25 different international stock markets, fractional share investing, and more. Its app offers live streaming quotes, charting tools, and additional features.
As a full-featured brokerage, Fidelity offers a variety of account types that can be opened for free through its app, including individual, joint, retirement, custodial, and trust accounts.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Merrill Edge® Self-Directed is a great option to consider not only for users of Bank of America (which it is a part of), but also those who are looking to invest and bank under one roof and with a highly capable app.
We tried it: Matt's review of Merrill Edge® Self-Directed
"As a long-term investor, I don't want a lot of noise in my investing app. I want the important information, and I want to be able to find what I want to find when I want to find it. I don't want to be enticed to trade, and I don't want to see a barrage of short-term results in my face. The Merrill Edge® Self-Directed app fits all of this. I invest to get results -- I get my entertainment elsewhere. I also like that the app ties in well to the rest of the Bank of America ecosystem, so I can navigate between my investing and other accounts."
– Matt Koppenheffer, Head of Product Coverage at The Motley Fool
Pros
Most major investment account types available
Qualify for select Bank of America Preferred Rewards benefits
Debit card access to money
Cons
Options commissions
Higher margin rates
Why Merrill Edge® Self-Directed made the list: Merrill Edge® Self-Directed is one of our top free stock trading apps for a few reasons, and that's especially true if you're already a Bank of America customer (Merrill Edge's parent company).
The platform offers stocks, ETFs, options, mutual funds, bonds, and CDs. Note, however, that you can'’t invest in fractional shares through Merrill Edge® Self-Directed.
You can open up most major investment account types to buy stocks with Merrill Edge® Self-Directed's free trading app, including individual brokerage accounts, IRAs, SEP and SIMPLE IRAs, custodial accounts, small business accounts, and more. Additionally, Merrill Edge® Self-Directed customers can get a debit card to access their money for free at any Bank of America ATM.
Finally, Bank of America's Preferred Rewards loyalty program is the gold standard in banking relationship programs, and Merrill Edge accounts can help you qualify for certain benefits.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Ally's stock app offers an easy-to-use trading platform and commission-free ETFs.
"I've used Ally Invest for 5 years, and the interface is easy to use, with helpful shortcuts to tasks and customizable dashboards. One of the features I like the most is the research section with a Screener that includes Analyst Top Stocks, Market Movers, Value Stocks, and Money Makers. I also like that you can find ETFs by Morningstar Rating, Price, Asset Class, and more."
- Ally Wines, Head of Prospect Marketing at The Motley Fool
Pros
Low margin rates
Access to in-depth stock reports
Investment and banking services in one app
Cons
Some commissions
Few trading tools
Why Ally Invest made the list: Ally Invest offers not only commission-free stock trades but also mutual fund investing through its app, and with no commissions whatsoever. Ally Invest also offers a top-rated robo-advisor platform through its app, which can be a great choice for investors who want to automate some or all of their investments.
Ally Invest doesn't have many active trading tools, but it does offer access to in-depth stock research reports, which many free trading apps don't have. And while investing on margin isn't always a good idea, Ally Invest offers some of the lowest margin interest rates on our radar among free trading apps.
Lastly, Ally Invest's free app offers all of its investment and banking services in the same place, which could make it a great choice for stock traders who like keeping their finances in one place.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
A full-featured broker with an excellent mobile trading app to complement its desktop platform.
Fees:
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.
"I've used Charles Schwab for about 2 years now, and it's just a solid broker in every way. The app itself can be a bit clunky at times, but they've improved it a ton in the last 2 years I've been using it, and I love that I can quickly see how all my accounts are doing in one place. I would recommend it to beginner investors who need educational resources and customer support -- I've used both a lot and have had great experiences."
- Brooklyn Welch, SEO Lead at Motley Fool Money
Pros
Lots of investment choices
Wide range of account types
Global markets available
Cons
Not easy to use
Some commissions
Why Charles Schwab made the list: Charles Schwab is one of the largest and most well-known brokers in the world. While its free trading app isn't quite as easy to use as some of the mobile-first trading platforms, it makes up for this in features. It also offers virtually every type of account you might need, and it has a top-rated robo-advisor.
Charles Schwab's platform offers stocks, ETFs, bonds, options, mutual funds, foreign exchange, futures, and CDs for investors, all in one free trading app. And in addition to standard brokerage accounts and traditional and Roth IRAs, Schwab offers SEP and SIMPLE IRAs, Solo 401(k)s, college savings accounts, custodial accounts, and several other account types.
Charles Schwab is also one of the few free trading apps that allows customers to trade stocks on foreign markets, with more than 30 global markets currently available.
There are a few benefits we like to look for when comparing free stock trading apps:
Diverse investment options: Some free investment apps only invest in ETFs. Others offer an array of options, including stocks, bonds, options, and mutual funds.
Affordable account minimum: Certain free investment apps let you open an account with as little as $1, while some require an initial deposit of $500 or $1,000.
Educational resources: It's nice if the app offers resources like third-party research and stock analysis to help you learn to be a better investor.
User-friendly platform: Online and app-based products should be reliable and easy to use! Check reviews for an app before you sign up to make sure users are happy with their experience.
How to open an account with a free stock trading app
The exact process of opening an account through a free stock trading app depends on the specific app. But the general process is as follows:
Fill out the new account application: This is usually a simple form that includes information about you and the type of account you want to open (individual, joint, retirement, etc.). In most cases, the application takes just a few minutes.
Make a deposit: The easiest way to deposit money into a stock trading app is to link a checking or savings account and make a deposit electronically. Alternatively, you could mail a check or wire money.
Start trading: That's it! Once your deposit has been posted to your new account, you're ready to start trading stocks.
Should I choose a robo-advisor or self-directed investment app?
Many free stock trading apps offer both self-directed investing (where you choose your own stocks) and automated investing, where the app automatically allocates your money into an appropriate investing portfolio. In some cases, you can do both on the same platform.
The right choice for you depends on your investment goals and risk tolerance, as well as the amount of time you want to spend researching investments and monitoring your portfolio. If you don't have the time, knowledge, and desire to research stocks, there's nothing wrong with automating the process.
What investments can I buy in a free stock trading app?
Aside from the obvious (stocks), there are other investments you may be able to buy in a free stock trading app. Depending on the app, these can include mutual funds, ETFs, futures, cryptocurrencies, and more. Some stock trading apps also offer banking products like high-yield savings accounts, CDs, and checking accounts.
Some free stock trading apps also offer automated investing (robo-advisor) services in addition to the ability to buy and sell individual investments.
How much money do I need to start trading in a free stock trading app?
This depends on the particular app and its policies. Most of the free trading apps we like don't have any minimums to start trading, although you might need a certain amount -- such as $5 -- before it is practical to make an investment.
However, some stock trading apps have minimums. If an app has a minimum, it is typically in the $100 to $1,000 range, although higher minimums are possible, especially among automated investing (robo-advisor) apps.
Are free stock trading apps safe?
Free stock trading apps are safe in the sense that your investments are generally protected by SIPC insurance in the event that the app or brokerage fails. And many have protections against unauthorized trading activity, so you're protected if your account gets hacked.
However, it's important to realize that the investments you choose in a free stock trading app can be volatile. Depending on what you invest in and how the overall economy and stock market performs, it's possible to lose money. For this reason, it's important not to invest any money in stocks that you'll need in the next few years, and not to invest any money at all in speculative investments that you can't afford to lose.
What is a free stock trading app?
A stock trading app allows you to buy and sell stocks and other investments from your mobile device without charging you a subscription fee or commissions. Stock trading apps might offer self-directed trading (where you choose your own stocks), automated investing services, or both. Free stock trading apps come in many different varieties, so it's important to do some research to see which is the best fit for you.
At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.
FAQs
When choosing between free online trading apps, you should find one with a wide range of investment products, investment research, and educational tools. You should also look for a free trading app that has a trading platform that best suits your trading style.
All the free stock apps on this list are pretty easy to use -- that's one of our top criteria for selecting it as one of the best trading apps on the market. However, our two top picks for the easiest free stock apps to use are Fidelity and Robinhood. Fidelity has a user-friendly mobile experience with access to many investment options, as well as $0 commissions for stock and ETF trading. Robinhood also has an excellent mobile experience, with an interface designed specifically for mobile use, and has eliminated fees on all of the investments it offers, even options and cryptocurrencies.
Many free stock trading apps and commission-free brokers receive payment for order flow: Brokers often receive compensation for directing orders to market makers, which are usually banks and brokerages, that stand ready to immediately fulfill any buy or sell order. They may also earn money through interest on uninvested cash in brokerage accounts or via subscription fees for premium services.
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Brokerages we evaluated for consideration on this page: Acorns, Ally Invest, Axos Self-Directed Trading, Betterment, Cash App Investing, Charles Schwab, Delphia, Domain Money, Ellevest, Empower, eToro Brokerage, E*TRADE Core Portfolios, E*TRADE, Fidelity, Fidelity Cash Management, Fidelity Go®, Firstrade, FOREX.com, Interactive Brokers, J.P. Morgan Self-Directed Investing, M1 Finance, Magnifi, Marcus Invest, Merrill Edge® Self-Directed, Moomoo, NinjaTrader, Personal Capital, Plynk, Prosperi Academy, Public, Robinhood, Rocket Dollar, Schwab Intelligent Portfolios, SoFi Active Investing, SoFi Robo Investing, Stash, Stockpile, Tastytrade, Titan, Tornado App, TradeStation, Tradier, Vanguard, Vanguard Digital Advisor®, Wealthfront, Webull, Zacks Trade.
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E*TRADE services are available just to U.S. residents.
SoFi Disclosure: INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).
Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).
There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options
Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.
Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information
Probability of Member receiving $1,000 is a probability of 0.028%
Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
Investing is risky. Bonus offers subject to terms and conditions, visit robinhood.com/hoodweek for more information. Margin is not suitable for all investors. Robinhood Gold is offered through Robinhood Gold LLC and is a subscription offering services for a fee. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.
Fidelity disclosure Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $1.00. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)
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