10 Best Free Investing Apps
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Looking for the best investment apps? With these free investing apps, you won’t pay any commission fees when trading stocks.
Some apps can manage your entire account for “hands-off” investors who don’t want to handle the daily investing decisions and portfolio rebalancing.
Regardless of your investment background and strategy, these free investment apps can help you maximize your returns at the lowest possible cost.
Top Free Investing Apps
Since you invest to boost your income, the notion of free investing apps boils down to more money in your wallet every month!
Whether you are a novice investor or have been investing for 30 years, you can choose a fully automated app, and others are entirely self-directed.
When choosing an investing app keep these three criteria in mind:
- Investment options
- Research capabilities
- Is the app self-directed (DIY) or automated?
Knowing how each of these free investment apps works will help you better choose the app that’s right for you. Now, on to our best investment apps that are free.
1. Vanguard
Vanguard is one of the oldest and largest online brokers and offers free stock and ETF trades. This broker manages several stock and bond index ETFs that most robo-advisors invest in.
As Vanguard has a loyal group of investors known as Bogleheads, finding investment ideas can be easy. Stocks and ETFs can have the lowest investment minimums, but investors must purchase whole shares.
Many Vanguard mutual funds have a $3,000 minimum initial investment. Their Target Retirement funds require a $1,000 initial investment. Despite this high initial investment, subsequent investments are only $1.
| Investing App | Vanguard |
| Minimum Investment | $0 |
| Account Types | IRA, 401(k), Taxable & More |
| Promotion | None |
| Google Play Rating | 1.7 |
| Apple App Store Rating | 4.7 |
Related Article: Vanguard Personal Advisor Services Review
2. Webull App
An up-and-coming free investing app is Webull. All stock and ETF trades are commission-free. You can even trade foreign-listed ADR companies other free investing apps don’t offer.
Webull also lets you trade options and cryptocurrency. But you must buy whole shares of stocks and ETFs. You can access Webull from their Android or iOS app plus any computer.
Webull offers some of the best stock research tools for a free investing app. These tools can be good for short-term traders who rely on technical analysis.
Webull doesn’t require a minimum balance to join. Although a $100+ opening deposit lets you get one free stock. Your free stock will be worth between $8 and $1000. Which stock you get is a mystery.
| Investing App | Webull |
| Minimum Investment | $0 |
| Account Types | Taxable and More |
| Promotion | Free Stocks |
| Google Play Rating | 4.4 |
| Apple App Store Rating | 4.7 |
3. M1 Finance
M1 Finance is another investment app that can benefit those wanting a free robo-advisor. Investors can invest in premade portfolios that don’t charge an annual advisory fee.
DIY investors can also build a self-managed portfolio of stocks and ETFs. M1 Finance offers fractional shares for all stocks, ETFs and premade portfolios.
M1 Finance touts itself as a hybrid of a robo-advisor and a traditional investment broker. This is because it offers automated investments but also includes customization options.
Unlike full-service robs-advisors, M1 Finance doesn’t offer tax-loss harvesting.
Note that M1 Finance doesn’t offer 529 plans or 401k plans. However, it does offer IRAs, including Roth IRAs, traditional IRAs and SEP IRAs.
The initial account minimum is $100 for brokerage accounts and $500 for retirement accounts before you can make your first trade. Subsequent trades have a $25 minimum.
| Investing App | M1 Finance |
| Minimum Investment | $100 |
| Account Types | Taxable and More |
| Promotion | Get $30 when you deposit $1,000+ |
| Google Play Rating | 4.5 |
| Apple App Store Rating | 4.6 |
Learn More: M1 Finance Review
4. Robinhood
Do you want an app that lets you trade stocks and options for free? Robinhood has an investing app and a laptop-accessible platform.
This app doesn’t steal from the rich to give to the poor like its namesake. However, you will pay $0 per trade making this the cheapest way to buy and sell stock shares and ETFs.
It’s possible to buy fractional shares of stocks and ETFs with a $5 minimum investment. Not all investing apps offer fractional share investing.
If you still rely on research reports and advanced charting before you trade as Robinhood only has very basic charting capabilities. But the fractional investing feature is a good tradeoff.
Robinhood and Webull operate very similarly. Both investing apps are good choices but each fits different investing needs.
| Investing App | Robinhood |
| Minimum Investment | $0 |
| Account Types | Taxable and More |
| Promotion | Free Stocks |
| Google Play Rating | 3.8 |
| Apple App Store Rating | 4.1 |
5. Ally Invest
If you use Ally for your online banking, Ally Invest can be a convenient investment option. The minimum initial deposit is $0 to open a Self-Directed Account.
The Ally Invest features are robust and easy to use as well. There are several stock screener tools for trading stocks and options, including a trading simulator and probability calculator.
Stock and ETF trades are free. Options trades are commission-free but cost $0.50 per contract.
Another reason to consider Ally Invest is access to the Managed Portfolios feature. Investors can divide their portfolio between a Managed Portfolio and buy handpicked stocks and ETFs in a Self-Directed Account.
Also, the Ally Invest Managed Portfolios don’t have an advisory fee like most robo-advisors. However, these portfolios maintain a higher cash balance than other automated investing apps.
| Investing App | Ally Invest |
| Commission | $0 |
| Minimum Investment | $0 |
| Account Types | IRA, 401(k), Taxable |
| Promotion | Up to $3,000 cash |
Learn More: Ally Invest Review
6. eToro
eToro is a trading platform that was founded in 2007. The site started by offering cryptocurrencies and now offers over 24 different cryptocurrencies in the U.S., including Bitcoin, Ethereum and more.
Today, you can buy and sell stocks and ETFs with eToro as well. You can choose from over 1,600 stocks and an array of ETFs. Fractional shares are available too.
The site’s social platform allows investors to interact. eToro’s CopyTrader lets you see what other traders are doing and copy their strategies if desired.
The current promotion of a free $100k virtual portfolio lets you test your strategies before making any real-life moves with your portfolio.
| Investing App | eToro |
| Commission | 1% for crypto, $0 for stocks and ETFs |
| Minimum Investment | $10 |
| Account Types | Taxable |
| Promotion | Free $100k virtual portfolio |
7. Empower
Empower is a two-fold financial platform. Many people use Empower’s free budgeting app to track their spending and create financial goals.
They even have a free investment fee analyzer that looks at your current investments and makes recommendations to find similar low-fee funds. Many people also like to use Empower as a net worth tracker.
If you have at least $100,000 to invest, you can invest with Empower and have free access to a financial advisor.
Even if you don’t have this much capital to invest (yet), you can track your current investments for free regardless of which brokerage you use.
If you use more than one broker, Empower can be the easiest way to see all your money in one place.
| Investing App | Empower |
| Commission | 0.49% annual fee |
| Minimum Investment | $0 |
| Account Types | Taxable and More |
| Promotion | $25 Amazon gift card |
Learn More: Empower Review
8. Fidelity
There is a lot to like about Fidelity, which is one of the largest online brokers.
First, there are no account minimums for taxable and retirement investing accounts. Investing accounts for children are available too.
Like the other free investing apps, it’s free to trade stocks and ETFs. There is also a lineup of Fidelity ZERO index mutual funds with no fund fees, trade fees, and a $1 investment minimum.
With the Fidelity mobile app, fractional investing is available for over 7,000 US stocks and ETFs. Investors must buy whole shares when using the Fidelity website on their laptop.
One other reason to consider Fidelity is for its analyst reports and research tools. Many barebones investing apps only stream the news headlines and have some charting tools.
| Investing App | Fidelity |
| Commission | No base commission; $0.65 per contract |
| Minimum Investment | $0 |
| Account Types | IRA, 401(k), Taxable and More |
| Promotion | Up to $2,500 cash |
9. TD Ameritrade
Consider TD Ameritrade if you want impressive research tools. TD Ameritrade offers impressive charting tools and third-part analyst reports with its web browser and mobile app.
Its thinkorswim platform for advanced traders is free to use. Other brokers charge a hefty fee to provide similar features.
Stock and ETF trades are free. There are no account minimum for taxable and retirement accounts.
New and experienced investors can also benefit from the TD Ameritrade education tools. There are short online videos and live webinars covering popular investing topics.
| Investing App | TD Ameritrade |
| Commission | $0 |
| Minimum Investment | $0 |
| Account Types | IRA, 401(k), Taxable and More |
| Promotion | Up to $2,500 cash |
Learn More: TD Ameritrade Review
10. Public
Public offers fractional investing of stocks and ETFs with as little as $1.
You might like this app as they do not accept payment for order flow (PFOF) when you buy or sell positions. Other free apps may collect a small surcharge from market makers, and you may not get the best trading price as a downside.
It can be a great platform for new investors and experienced investors who don’t need the additional investment options that traditional brokerages provide, like mutual funds or CDs.
However, this platform only offers individual taxable brokerage accounts.
| Investing App | Public |
| Commission | $0 |
| Minimum Investment | $0 |
| Account Types | Taxable and More |
| Promotion | Up To $70 In Free Stock Sign Up & Referrals |
Learn More: Public App Review
How Do These Investment Apps Compare?
| Broker | Min. Investment | Fees Per Trade | Account Type |
| Vanguard | $1 | $0 | Individual Taxable Joint Taxable Traditional IRA Roth IRA Rollover IRA SEP IRA 529 plans |
| Webull | $0 | $0 | Individual Taxable Traditional IRA Roth IRA Rollover IRA |
| M1 Finance | $100 (Taxable)$500 (IRA) | $0 | Individual Taxable Joint Taxable Traditional IRA Roth IRA SEP IRA |
| Robinhood | $0 | $0 | Individual Taxable |
| Ally Invest | $0 | $0 | Individual Taxable Joint Taxable Traditional IRA Roth IRA Rollover IRA Custodial |
| eToro | $10 | $0 | Individual Taxable Joint Taxable Crypto |
| Empower | $100,000 | 0.49% – 0.89% | Individual Taxable Traditional IRA Roth IRA Rollover IRA |
| Fidelity | $0 | $0 | Individual Taxable Joint Taxable Traditional IRA Roth IRA Rollover IRA SEP IRA Custodial |
| TD Ameritrade | $0 | $0 | Individual Taxable Joint Taxable Traditional IRA Roth IRA Rollover IRA SEP IRA Custodial |
| Public | $1 | $0 | Individual Taxable |
Summary
Not having to pay trade commissions or account fees makes it easier for any person to invest and begin earning compound interest.
And using the best investment apps like the ones mentioned above can help make investing easier and more convenient than ever. Whether investing in stocks, ETFs, or real estate, these investing apps can help you.
Very surprised that SOFi is not on this list, not only do they offer Stocks and ETF’s, but they also have Banking, Loans, Mortgages, Cryptos, and a Credit Card. Seems that they should be on this list.
Joe
Thank you for the suggestion!
I only want to find out if the APP itself has a fee attached to it before downloading it? That information. Seems to be a guarded secret.
However, I enjoyed your article and learned a lot from reading it. Thank you.
I personally am using Robinhood and loving it. I can see everything in a snapshot, track potential stocks and ETFs for future.
Please how can I start trading as an individual with as low as $10 to $20.
Quite a few of these allow you to start with a very low amount. Even as low as $1! Just do a little research with the links below to see what is right for you!
What about Motif?
Motif is a good option too, as you get instant diversification with each trade and can build personalized Motif portfolios. You do have to pay either $4.95 or $9.95 per trade, which is why they aren’t included on this list.