Overview: The best free stocks app
Number 1: TD Ameritrade
| Product | TD Ameritrade |
| Website: | https://www.tdameritrade.com |
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D Ameritrade is a stockbroker that offers a free electronic trading platform for the trade of financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, forex, mutual funds, and more.
TD Ameritrade shines beyond just its free trading app, combining TD Ameritrade’s app capabilities with its highly-regarded customer service, the array of investment vehicles, diversity of account types, and best-in-class trading platforms explains why the broker is a top pick to consider, investors wanting to invest in fractional shares or cryptocurrencies will need to look elsewhere.
| Advantages | Disadvantages |
| Great customer service. | No fractional shares investing. |
| Robust active trading platforms. | No cryptocurrency investing. |
| Diverse investing vehicles available. |
Number 2: Robinhood
| Product | Robinhood |
| Website: | https://robinhood.com |
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Robinhood is a user-friendly trading app that facilitates commission-free trades of stocks, exchange-traded funds, and cryptocurrencies. Robinhood offers users access to a cash management feature that allows interest to be earned on cash balances, and the $5 per month Robinhood Gold premium version of the platform allows for $1,000 of interest-free margin and access to Morningstar stock research reports.
One of the standout features is the $0 options commissions and no fee per contract, this suggests Robinhood is designed more for traders, not long-term investors.
| Advantages | Disadvantages |
| User-friendly trading platform. | No access to stock research unless you pay for an upgraded account. |
| Allows fractional share investing. | No mutual fund investing or Robo-advisory services. |
| No commissions. | Few educational resources. |
Number 3: SoFi Invest
| Product | SoFi Invest |
| Website: | https://www.sofi.com/invest |
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SoFi, which is short for Social Finance, is designed to be an all-rounder financial community. SoFi Active Investing is geared toward young investors getting their start in trading, with commission-free trades of stocks, fractional shares, and ETFs.
SoFi Invest offers both active investing and automated investing services, it also allows investors to trade cryptocurrencies.
SoFi Active Investing’s $0 trading commission and $1 account minimum is attractive to new investors, but the lack of investment choices such as mutual funds and bonds is a drawback for those saving for retirement.
| Advantages | Disadvantages |
| Fractional shares are available. | Doesn’t offer stock research or an advanced trading platform. |
| Free financial counseling. | No options or mutual fund trading. |
| Retirement accounts are available. | Small selection of tradable securities. |
Number 4: E*TRADE
| Product | E*TRADE |
| Website: | https://us.etrade.com/home |
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E*TRADE is a one-stop-shop for most things an investor needs in a trading app. It offers an electronic trading platform to trade financial assets. E*TRADE sports two apps, the regular E*TRADE app and the Power E*TRADE app designed for active traders; both apps are free.
The regular E*TRADE app is an easy-to-use app that gives users access to an intuitive platform for placing trades, managing your account, staying up-to-date on news, and performing stock research and screening. You’ll want to opt for the more advanced Power E*TRADE app If you’re an active trader.
| Advantages | Disadvantages |
| Commission-free stock and ETF trades. | Does not support cryptocurrency investing. |
| Easy-to-use. | Does not have access to international exchanges. |
| Advanced app ideal for active traders. | Does not support fractional share investing. |
Number 5: Webull
| Product | Webull |
| Website: | https://www.webull.com |
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Webull is a mobile-based stock trading platform that provides more features than most of its app-based rivals. With its slick interface for desktop and mobile apps, the brokerage also delivers an impressive array of tools for active traders.
Customers can trade stocks and options with no commissions whatsoever and no account minimums. Webull has some of the lowest rates for investors who use margin.
New investors can take advantage of Webull’s virtual trading simulator where you can learn investing without risking your hard-earned money.
| Advantages | Disadvantages |
| Low Cost. | Thin educational support. |
| Access to cryptocurrency. | Most market data and research require subscriptions. |
| Commission-free stock trading. | Investors cannot trade mutual funds or OTC stocks. |
Number 6: Merrill Edge
| Product | Merrill Edge |
| Website: | https://www.merrilledge.com |
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Merrill Edge was created to merge Bank of America Online Investing and Merrill Lynch’s research, call center counsel, and investment tools. Amateurs and intermediate DIY investors will be well-served by Merrill Edge’s technology and range of services.
Merrill Edge offers a comprehensive platform with adequate technical and fundamental tools suitable for long-term investors and casual traders. Merrill Edge is a top stock broker to consider for anyone focused on finding an all-in-one place to manage the majority of their money needs.
| Advantages | Disadvantages |
| Wide array of account types offered. | No cryptocurrency investing. |
| Commission-free stock. | Advanced traders may find fewer securities on offer. |
| Robust third-party research. | Trading platforms can be beat. |
Number 7: Fidelity
| Product | Fidelity |
| Website: | https://www.fidelity.com |
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Fidelity is an American multinational financial services corporation based in Boston, Massachusetts. The app’s trading platform is user friendly and highly customizable. Through the app, users can set up a customized news feed, view stock research, and even deposit checks and pay their bills.
Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, wealth management, retirement services, index funds, securities execution and clearance, life insurance, and asset custody.
| Advantages | Disadvantages |
| Allows trading on international stock exchanges. | Options commissions are on the higher end of the spectrum. |
| Fractional share investing. | No cryptocurrency functionality. |
| Highest-rated mobile app among brokers that aren’t primarily app-based. | Higher margin rates than many peers. |
Number 8: Ally Invest
| Product | Ally Invest |
| Website: | https://www.ally.com/invest |
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Ally Invest is a great choice for those interested in online banking with Ally and existing Ally Bank customers because they can easily see their full financial details on one platform.
In addition to being able to buy and sell stocks, options, ETFs, and mutual funds, Ally Invest also offers Robo-advisory service, high-yield savings account, checking accounts, mortgages, auto loans, personal loans, and more.
Ally Invest has options for investors of all experience levels, including managed accounts with a minimum investment amount of just $100 and self-directed accounts with no minimum balance requirement.
| Advantages | Disadvantages |
| No account minimum. | Limited third-party research providers. |
| Strong web-based platform. | No fractional shares. |
| Offers banking and investment accounts in one app. | No sophisticated trading platform for serious traders. |
Number 9: Charles Schwab
| Product | Charles Schwab |
| Website: | https://www.schwab.com |
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The Charles Schwab Corporation is an American multinational financial services company that offers banking, commercial banking, investing, and other related services including consulting, and wealth management advisory services to both retail and institutional clients.
Schwab has top-notch customer service and a great selection of mutual funds. Schwab also has one of the best platforms for Robo-advisors, called “Schwab Intelligent Portfolio” which allows investing on autopilot.
It also supports a variety of different account types and allows customers to buy and sell fractional shares of stock.
| Advantages | Disadvantages |
| Extensive research. | Margin rates are on the high end. |
| Allows fractional share trading. | Low default cash sweep rate. |
| Large fund selection. | No cryptocurrency trading. |
Number 10: Vanguard
| Product | Vanguard |
| Website: | https://investor.vanguard.com/client-benefits/mobile-apps |
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Vanguard offers free stock and ETF trading, along with a smooth easy-to-use and well-designed mobile trading platform. It is a good choice for beginner investors facing the common complexities of saving and investing. On the down side, the product portfolio covers only the US market, while research tools are limited.
Those planning to trade on margin may find financing rates high. For investors facing more complex financial situations, the broker also offers Personal Advisor Services, which features allow access to a Vanguard financial advisor.
| Advantages | Disadvantages |
| Commission-free stock, options and ETF trades. | Limited research and data. |
| Leader in low-cost funds. | Basic trading platform only. |
| Large mutual fund selection. | Only US assets available. |
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