Best Free Stock Trading Apps for 2022
If you're looking to start trading stocks, there's some good news. Not only have virtually all major brokerage firms done away with commissions on stock trades, but the actual process of buying and selling stocks is easier than it has even been before. And a big reason for this is that there are some excellent commission-free stock trading apps available that allow for stock trading and much more.
In this guide, we'll share some of our favorite free stock trading apps from some of the best stock brokers as well as some things to consider when deciding which is the best choice for you.
Best free stock trading apps overview
1. TD Ameritrade
Best for: Diverse investing on the go
TD Ameritrade shines beyond just its free trading app, which is among the best we've come across. Combining TD Ameritrade's app capabilities with its highly-regarded customer service, array of investment vehicles, diversity of account types, and best-in-class trading platforms explains why the broker is a top pick to consider. This isn't to say that TD Ameritrade nails everything, though. For example, investors wanting to invest in fractional shares or cryptocurrencies will need to look elsewhere.
iOS rating: 4.5/5 stars
Android rating: 3.5/5 stars
2. Robinhood
Best for: No-frills stock and options trading.
Robinhood is a user-friendly trading app that allows for trading in stocks, options, and cryptocurrencies (including Bitcoin). Robinhood users have 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 $0 options commissions and no fee per contract. Even many of the best options brokers charge a fee per contract, but Robinhood doesn't.
There are some downsides, however. Specifically, there are few educational tools or advanced trading tools. There are also no mutual funds or IRAs. All this suggests Robinhood is designed more for traders, not long-term investors.
iOS rating: 4.1/5 stars
Android rating: 3.8/5 stars
3. SoFi Invest
Best for: Investors who want access to other financial products as well.
SoFi Invest offers both active investing (stock trading) and automated investing (robo-advisory) services. It also allows investors to trade cryptocurrencies. And unlike several other tech-focused investment apps, SoFi offers traditional and Roth IRAs. The best part -- all of these features (lending, saving, investing, and more) are available through a single, highly-rated app.
One big differentiator is that SoFi, which is short for Social Finance, is designed to be an all-in-one financial community. In addition to its investment platform, the SoFi app also offers personal loans, mortgages, private student loans, credit cards, and high-yield savings accounts.
iOS rating: 4.8/5 stars
Android rating: 4.4/5 stars
4. E*TRADE
Best for: Easy-to-use platform for average investors, and an advanced app for active traders
E*TRADE scores high marks from our experts as a one-stop-shop for most things an investor needs in a trading app. In fact, E*TRADE actually sports two apps: the regular E*TRADE app and the Power E*TRADE app designed for active traders. Both apps are free.
Users of the regular E*TRADE app get an easy-to-use app that gives them access to most of the features that an average investor would expect: an intuitive platform for placing trades, managing your account, staying up-to-date on news, and performing stock research and screening.
If you’re an active trader, you’ll want to opt for the more advanced Power E*TRADE app. This app provides real-time technical analysis of stocks, advanced options trading features, futures trading, and excellent charting capabilities. Looking at app store reviews, it seems there may be some technical issues with the Android app that appear to be less of an issue on iOS, so that is perhaps something to take into consideration. Unfortunately, neither app allows for cryptocurrency, forex, or fractional share trading, so you’ll want to look elsewhere if this is important to you.
iOS rating:
E*TRADE app: 4.6/5 stars
Power E*TRADE app: 4.5/5 stars
Android rating:
E*TRADE app: 4.2/5 stars
Power E*TRADE app: 3.7/5 stars
5. Webull
Best for: Active investors who want a simple and user-friendly trading platform.
Webull is a mobile-based stock trading platform that offers more features than most of its app-based rivals. Customers can trade stocks and options with no commissions whatsoever and no account minimums. For investors who use margin, Webull has some of the lowest rates we know of. New investors can take advantage of Webull's "Paper Trading" feature, a virtual trading simulator where you can learn investing without risking your hard-earned money.
iOS rating: 4.7/5 stars
Android rating: 4.4/5 stars
