Best Free Stock Trading Apps phroogal

Best Free Stock Trading Apps 2020

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Free stock trading apps provide a great opportunity to maximize your returns with simple interfaces and research tools.

Stock trading is another way of making money from the stock market. With stock trading, you’re actively buying and selling stocks or funds. It requires you to research stocks and plan your trades.

Unlike other investing apps, the goal of stock trading apps is to help you earn money through trades in the short term as opposed to holding stocks in the long-term. Basically, it means you bought a stock at $10 today and sold it the following week for $15 with a gain of $5 or 50% return.

There is a bit more risk involved in stock trading, but that doesn’t mean you can’t figure out a system that works for you. The following are the best stock trading apps I’ve used in 2020.

Now, if you’re seeking a more passive approach, consider using a Robo-advisor or micro-investing app instead.

5 Best Free Stock Trading Apps of 2020

I’ve tried many stock trading platforms as a newbie investor in stocks. So what makes this list of apps worthy of your attention? They have user-friendly interfaces, robust research tools, no account minimums, commission-free trading, and other unique feature.

Webull: Best Research and Community

Webull is an online brokerage offering free stock trading and zero-commission trades in a robust platform. It’s best for the intermediate and expert level investor but a newbie can benefit too. The app offers a comprehensive toolset to help you make trades like a pro.

  • Advanced and intelligent tools and services
  • Free real-time quotes provided are Nasdaq Last Sale
  • Community forum to chat with other traders

Account Fees: None
Investment minimum: None
Trading Fees: None

New Account Bonus: Get a free stock for opening an account with $100.

>> Get started with Webull

Public: Best Fractional Shares Buying

Public investing app is a zero-commission stock trading platform with a mission of making investing accessible to everyone. Follow other investors and learn from their portfolios and knowledge. Public does not allow day-trading.

  • Invest in fractional shares called slice with as little as $5
  • Access original ETFs from Vanguard, BlackRock, and others
  • Earn 2.5% APY interest on uninvested cash deposit of up to $10,000

Account Fees: None
Investment minimum: None
Trading Fees: None

New Account Bonus: Open a Public account and get a free slice of stock.

>> Get started with Public

Robinhood: Best Free Stock Trading

Robinhood is an online brokerage offering zero commission trading. It offers a streamlined investing app that is good for beginners and seasoned investors who desire simplicity and ease of use. Make trades of stocks, exchange-traded funds (ETFs) and crypto.

  • Buy and sell shares with no commission fees
  • Easy to join and intuitive platform
  • Access stock performance history

Account Fees: None
Investment minimum: None
Trading Fees: None

New Account Bonus: Get a free stock for opening an account and completing the signup process.

>> Get started with Robinhood

M1 Invest: Best for Growth Mindset

M1 Finance is a micro-investing and trading platform that is both good for beginners and seasoned investors. With M1, you get automated and free investing without trading fees and commissions. Choose to invest in what you want or choose portfolios (M1 Pies) created by their experts.

  • No trading fees or commissions
  • Simple interface built for ETFs
  • Robust and interactive investor education feature

Account Fees: None
Investment minimum: $100
Trading Fees: None

New Account Bonus: Receive $10 after completing the signup process and funded $100 within 90 days.

>> Get started with M1 Invest.

SoFi Active Investing: Best for Fractional Shares

SoFi Active Investing is an online brokerage that allows you to make free stock trading and zero-commission trades. You can buy fractional shares of stocks and index funds called Stock Bits.

  • A commission-free online brokerage account
  • Ability to buy fractional shares
  • Get benefits of SoFi Membership

Account Fees: None
Investment minimum: $1
Trading Fees: None

New Account Bonus: Get $50 worth of your favorite stock to start building your portfolio when you fund your SoFi Invest account with at least $1,000.

>> Get started with SoFi Active Investing

My Smile Summary: Get started with free stock trading apps

Choose one of these free stock trading apps or try them all. Then decide which app or apps help you accomplish your goal of stock trading. Why try them out? It helps that these free stock trading apps have no minimums, account fees, and offer account opening bonuses too!

Wondering if stock trading apps are for you? Learn the differences between Robo-advisors, online brokerages and stock trading apps.

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