The Best Free Stock Trading Apps
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Stock investment is a great way to make money and grow your wealth. But to do so, you need to open a brokerage account with a trading platform. If you are a beginner investor, there is good news. With free stock trading apps, buying and selling stocks has become easier. Some of the best apps have commission-free stock trades, making the process easy and convenient.
You can now achieve your personal finance goals and start investing through these platforms. Besides stocks, they have several investment products, including mutual funds, exchange-traded funds, and cryptocurrency trading. You can choose the product based on your investment strategy and long-term goals.
Related: Best Fractional Investing Apps
In this article
Overview of the best free stock trading apps
App | Best For |
Robinhood | Beginners |
SoFi Invest | Long-term investors |
Webull | Data nerds |
Fidelity | Retirement investing |
Ally Invest | Foreign investors |
Charles Schwab | New Investors who want to learn |
E*/Trade | Experienced traders |
Best stock trading apps
Robinhood
For no-frills and options trading, Robinhood is a trading app that allows you to trade stocks, cryptocurrencies, and options. You have access to a cash management feature that allows you to earn interest on the cash balance.
With an investment of $5 a month in the Robinhood Gold premium version of the platform, you get $1,000 of interest-free margin and free access to Morningstar's stock research reports. Robinhood has no fee and $0 options commissions per contract. You cannot invest in mutual funds or IRAs through the online brokerage, but it does offer fractional investing.
Tradable securities available:
- Stocks
- ETFs
- Fractional shares
- Cryptocurrencies
- Options
Pros
- Zero commissions
- Fractional investment
- User-friendly platform
- Invest in stocks, options, and cryptocurrencies.
Cons
- No mutual fund investing
- You need to pay for access to stock research
- Limited educational resources.
SoFi Invest
SoFi Invest offers active trading and robo-advisory services. It is ideal for those who want access to all financial products. You can invest in stocks. Additionally, you get traditional and Roth IRAs. Plus, you get all the features of lending, saving, and investing in a single app.
It offers commission-free trades for ETFs and U.S. stocks, and no fees are charged for withdrawals or inactivity. Besides the investment platform, the SoFi app offers mortgages, personal loans, credit cards, savings accounts, and private student loans.
Tradable securities available:
- Stocks
- ETFs
Pros
- Offers automated investing, and stock investing.
- Retirement accounts available
- Fractional investing
- Several financial products in one place.
Cons
- No stock research information
- No mutual funds or options
- Doesn't offer crypto trading
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Webull
If you want a simple and user-friendly platform, Webull is a good choice. It is a mobile trading platform with some of the best features. You can trade stocks and options with zero commission and no minimum deposit. If you use margin, you can enjoy the lowest rates.
As a new investor, you can take advantage of Webull’s Paper Trading feature, which lets you invest through a virtual trading simulator without risking your hard-earned money.
Tradable securities available:
- Stocks
- ETFs
- Options
- Cryptocurrency
Pros
- Zero commission trade
- Maximum features available
- Offers traditional IRAs
- Offers options trading and cryptocurrency trading
- Supports fractional investing
Cons
- Limited educational resources available
Fidelity
A popular name in stock investing, Fidelity is suitable for those who want to trade online stocks and other investments. It is a highly-rated mobile app and is user-friendly and customizable. This app lets you view stock research, set up the news feed, and pay your bills. It is the best zero-commission trading platform for active and passive traders. You will find solutions that meet your needs, but you will be disappointed if you want to invest in futures trading or forex.
You will find Fidelity helpful if you want to build a portfolio at zero trading fees. It also has index funds with no expense ratios. The platform also has excellent customer service. You can contact the team through email, live chat, or phone, or meet the representative at the in-person locations. Fidelity has several research tools for active traders, and you can utilize them to make investment decisions.
Tradable securities available:
Mutual funds
- Bonds
- Stocks
- ETFs
- Fractional shares
- Options
- Bitcoin and Ethereum
Pros
- Top-rated mobile app
- Fractional stock investing is possible
- Allows trading on International stock exchanges
- No commissions on many types of securities.
Cons
- Only offers two cryptocurrencies-Bitcoin and Ethereum
- High margin rates
- No forex trading or futures
- The commissions on options are on the higher end of the spectrum.
Ally Invest
If you want your bank and investment account in the same place, Ally Invest is a good place to start. Besides investing in stocks, options, mutual funds, and ETFs, you can have the Managed Portfolios Robo-advisory service. You can also have a .
Ally Invest is much more than a trading app. It is a very functional app with useful investing functionality, making it suitable for those who want to trade stocks and have their bank account in the same place.
Ally Invest has an intuitive trading platform in addition to several research tools. You do not have to worry about account minimums, making it a great app for novice and experienced investors. You cannot trade in futures, and as long as you invest in U.S. stocks and ETFs, you will not have to pay any commissions.
You can choose from the self-directed portfolio or a managed portfolio option. For a managed portfolio, you need a minimum of $100 to invest, but it doesn’t charge any advisory fees. There is a robo advisor that will select diversified ETFs and rebalance the portfolio based on your goals. Additionally, you can access research and educational tools like the probability calculator. You can contact customer service through e-mail, phone, or live chat.
Tradable securities available:
- Bonds
- Stocks
- Mutual funds
- ETFs
- Penny stocks
- Options
- Forex
Pros
- Banking and investment accounts in one place
- No account minimum
- Easy-to-use platform
- IRAs available for retirement planning
- Lowest mutual fund commissions
- Free research tools
Cons
- No in-person service
- Commissions for bonds, mutual funds, and other securities.
- No cryptocurrency.
Charles Schwab
Charles Schwab is another investing platform for serious investors who want to build a long-term portfolio. It allows you to buy and sell the stocks on the go, but you can also benefit from the full-featured brokerage account. It has top-notch customer service and a large selection of mutual funds. Charles Schwab also supports many different account types and will allow you to buy and sell fractional shares of the stock. Most importantly, it also has a robo-advisor known as Schwab Intelligent Portfolio, where you can invest on autopilot.
Charles Schwab has a zero account minimum and zero commission for stocks, bonds, and certain mutual funds. The investment options include stocks, bonds, mutual funds, fractional shares, ETFs, CDs, and futures. It allows you to buy fractional shares of the stock. Additionally, you can select from the no-transaction-fee ETFs and mutual funds, which are Schwab’s proprietary lineup.
Schwab Intelligent Portfolios's tier is free, but a $30-per-month premium tier unlocks unlimited access to certified financial planners.
Schwab also offers educational tools you can use to pick the funds that are ideal for your investment needs. There is a Personalized Portfolio Builder Tool that will create a customized portfolio based on your goals. You can contact Charles Schwab through e-mail, phone, live chat, or in person.
Tradable securities available:
- Stocks
- ETFs
- Fractional shares
- CDs
- Bonds
- Mutual funds
- Options
- Futures
Pros
- Several commission-free securities
- Fractional shares
- Several educational tools
- Power-packed broker
- Large selection of mutual funds
- Robo-advisory services
Cons
- No forex trading
- The margin rates are on the higher side
- No cryptocurrency trading
E*Trade
E*Trade has several offerings for new investors, including stocks, ETFs, and mutual funds, with no commissions or transaction fees. The mutual fund selection is huge, and their ETFs have low expense ratios. It also provides several educational resources to investors, and if you are a beginner, you will find its webinars very useful.
Advanced traders can also get training on Power E*Trade, a more advanced brokerage platform that gives access to technical charts and market dashboards. It offers exceptional customer service, live chat, support through phone and, e-mail, and in-person branches.
Tradable securities available:
- Bonds
- ETFs
- Stocks
- Options
- Mutual funds
- Futures
Pros
- Several investment choices
- Variety of customer support channels
- Large base of educational tools for investors.
Cons
- No forex trading or cryptocurrency
- There is an advisory fee for Robo-advisor services.
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- Over 100 Stock Picks with 100%+ Returns
- Averaged Stock Pick Return over 593% (vs. 165% for the S&P)
- 2 New Stock Picks Every Month
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- 30-Day Membership-Fee-Back Guarantee
- Joy Wallet Reader Deal: The Motley Fool is offering 50% off its top stock-picking service for new members (Limited Time)
Best Stock Trading Apps Summary
App | Account minimum | Crypto options | Fractional shares |
Robinhood | $0 | Yes | Yes |
SoFi Invest | $0 | No | Yes |
Webull | $0 | Yes | Yes |
Fidelity | $0 | Yes | Yes |
Ally Invest | $0 | No | No |
Charles Schwab | $0 | No | Yes |
E*Trade | $0 | No | No |
FAQs
How can I start investing in stocks?
To start investing in the stock market, you need to open a brokerage account. You can sign up for the account and fund it. You can then purchase your first stock. Simply search for the stock ticker and choose to buy or trade. Now add the share information and complete the purchase.
Are the free stock trading apps totally free?
The best investing apps do not charge commission on the stock trades but there may be other costs associated with the investment. Some platforms have management fees while others have a Robo-advisory fee. Understand the costs well before making a decision and consider your investment criteria before proceeding.
Can I have more than one brokerage account?
Yes, you can have multiple brokerage accounts to enjoy more protection. It is easier and more convenient.
What is fractional stock investing?
If you do not have the money to invest in a share, you can buy a fractional share at the amount you can afford. Say, you want to buy a $500 share but you do not have the money for it. In this case, you can invest $100 and buy a part of the share. Several stock trading apps offer fractional investing.
Use Motley Fool's Stock Advisor To Invest
- Over 100 Stock Picks with 100%+ Returns
- Averaged Stock Pick Return over 593% (vs. 165% for the S&P)
- 2 New Stock Picks Every Month
- Investment Community With 700,000+ Loyal Members
- 30-Day Membership-Fee-Back Guarantee
- Joy Wallet Reader Deal: The Motley Fool is offering 50% off its top stock-picking service for new members (Limited Time)
The bottom line
There is no such thing as the best free stock trading app for any investor. It all depends on your requirements and preferences. Some investors enjoy educational charting tools and resources, while many do not care about having access to them. Some only want a user-friendly way to buy and sell stocks.
Before you make your choice, you must consider the features that are very important to you. You must also understand what you are getting into, including the potential for profits and losses that are part and parcel of the stock market.
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Editor
Vandita Jadeja is a financial writer and editor at Joywallet. She loves to read and write about money and brings a decade of experience from the financial industry.
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