Best investment apps for beginners

13 Best Investment Apps For Beginners (Most Come With Free Stocks)

Think you need thousands of dollars to open an investing account? Think again – nowadays investing is much more accessible for the average person, especially someone who wants to dip a toe or forge their own path. You no longer need thousands to open an account or to work with a financial advisor to get good results. 

With platforms like those we’ll list below, and a little bit of knowledge (see our list of the 10 best investment books for beginners here), you can start investing in the next few days. Better still, most of the platforms we’re going to talk about below offer you a free stock which will allow you to try out the platform and start growing your investment portfolio

So, which platforms are the best to use and which offer you a free stock or free cryptocurrency? Here’s everything you need to know on the best investment apps for beginners.

13 Best Investment Apps For Beginners 

Acorns 

Acorns is a beginner-friendly investment platform and app that aims to help anyone start growing their wealth. Like Stacks, another platform you’ll learn about shortly, you can get money back when you spend in the form of stocks from the companies you use, such as Amazon, Lyft, and Airbnb. 

Ownership: Privately owned. 

Minimum sign-up investment: $0

Does it offer free stock? No, but they do offer a $5 bonus when you deposit $5.  

Can you get more free stock? Yes, they have a cashback system where you’ll get money back from purchases as stocks. 

Do you have to keep your account open? No – but you need to convert your prize into shares or use it to pay the $1 monthly fee. 

Charles Schwab 

Commonly known just as “Schwab”, this brokerage firm has been around for decades and now offers a Robo-advisor which will rebalance your portfolios for you. They’re a great option if you want to be hands-free, but be aware that you need some cash to move over – at least $5,000 – to access their Robo-advisor. 

Ownership: Privately owned. 

Minimum sign-up investment: $0

Does it offer free stock? No, but you can get a bonus if you’ve got a wealthy friend who wants to get into investing or is looking to leave their financial advisor – they need to invest at least $25,000 for you to access the $100 bonus. 

Can you get more free stock? See above. 

Do you have to keep your account open? You need to keep the next deposit in your account for 1 year or Schwab may charge back the bonus. 

Fidelity 

Founded in 1946, it brought investing to the internet in 1995 and has become one of the most popular online brokerage platforms. It offers commission-free trading of everything from stocks and options to ETFs and penny stocks. It does, however, lack some of the newer investment opportunities, such as cryptocurrencies. 

Ownership: Privately owned. 

Minimum sign-up investment: $0 (minimum of $10 to start investing) 

Does it offer free stock? No, but they do often offer cash-value bonuses. Currently, they’re offering $100 when you deposit $50 and use the code “Fidelity100”. 

Can you get more free stock? Not at the time of writing. 

Do you have to keep your account open? No – but you must hold the bonus in your account for at least 90 days. 

Greenlight 

Greenlight is unlike any of the other options on this list – Greenlight is designed to allow kids to start trading from as little as $1, and parents can learn along the way too. It also gives them access to a debit account, so if you’re looking for ways to teach your children good money management skills (they likely won’t get them from anyone else!) this may be the right tool for you. 

Ownership: Privately owned. 

Minimum sign-up investment: None, but be aware that there is a monthly fee for their Greenlight + Invest platform, which is $7.98 a month. 

Does it offer free stock? No, but a friend can give you a 30-day free trial if they refer you, you can get $30 if you refer a friend (you can do this until you’ve earned $150). 

Can you get more free stock? See above. 

Do you have to keep your account open? No, but the bonus cannot be redeemed for cash. 

M1 Finance 

M1 Finance is a commission-free investment app that aims to make investing as easy and accessible as possible. Unlike other apps, where you need to make all your own decisions, M1 provides you with over 80 expert-created portfolios you can invest in. You can also go your own way. They also offer fractional shares. 

Ownership: Privately owned. 

Minimum sign-up investment: $100 

Does it offer free stock? No, but they do offer bonus promotions. At the time of writing, this is $30 when you sign up and deposit $1,000 within the first 2 weeks. 

Can you get more free stock? You can get a further $30 when you refer a friend. 

Do you have to keep your account open? You must keep the cash in your account for at least 60 days

Public

Formally known as Matador, Public is a commission-free site where you can start investing from as little as $5. It allows you to buy individual stocks in popular companies (from McDonald’s and Apple to Pinterest and Chewy), cryptocurrency, or ETFs. Public is a great option if you want to try investing or get started with your spare change, but don’t feel ready to invest hundreds or thousands just yet. Note that there is a “social” element to this, as your portfolio is public. 

Ownership: Privately owned (funded by venture capital). 

Minimum sign-up investment: $0 

Does it offer free stock? Yes, you get a slice of stock when you sign up, which ranges in value from $3 to $300. 

Can you get more free stock? Yes, if you refer a friend both of you get an additional slice of stock. 

Do you have to keep your account open? No – once you’ve got the stock you can leave it in the app to grow, or cash out after 90 days have passed. 

Robinhood 

Robinhood is one of the most well-known investment platforms on this list. Robinhood has long offered a free stock sign-up bonus and the free stock you get will be that of a major company, such as Microsoft, Ford, or Facebook (up to a value of $225). Like other platforms, the stock is awarded randomly, with the chances of getting a high-value stock being lower. Robinhood is one of the most beginner-friendly apps. 

Ownership: Privately owned. 

Minimum sign-up investment: $0 

Does it offer free stock? Yes, you’ll get free stock in a major company when you sign up. 

Can you get more free stock? Yes, if you refer someone you both get free stock. 

Do you have to keep your account open? No – after 2 days you can keep or sell the free stock. 

SoFi Invest 

SoFi offers all kinds of financial products and this now includes a Robo-advisor and brokerage. It allows you to trade stocks, fractional stocks, invest in ETFs and cryptocurrencies, and you can get started from as little as $1. Trading stocks and ETFs is commission-free. 

Ownership: Privately owned. 

Minimum sign-up investment: $0

Does it offer free stock? Yes – by playing their virtual Claw game, you have a chance of winning a stock valued between $5 and $1,000. 

Can you get more free stock? SoFi offers a referral bonus of $15 per friend up to $75. 

Do you have to keep your account open? No – but you do need to convert your prize into shares before you can do anything with it. 

Stash 

Stash is an app that allows you to buy fractional shares, stocks, and ETFs for as little as $5. It’s designed with first-time investors in mind and is one of the best options available for those who want to get into investing with their spare change. 

Ownership: Privately owned. 

Minimum sign-up investment: $0

Does it offer free stock? No, but they do offer a $5 bonus when you deposit $5.  

Can you get more free stock? Yes, they offer Stock Back rewards via their debit card. 

Do you have to keep your account open? No – but you do need to convert your prize into shares or use it to pay the $1 monthly fee. 

TD Ameritrade 

Another commission-free investment platform with an easy to use app, TD Ameritrade aims to cater to investors at any stage, whether you’re just starting out and interested in ETFs, or are an advanced trader ready to take your day trading further. 

Ownership: Owned by Charles Schwab (see above). 

Minimum sign-up investment: $0, $2,000 for margin and some options privileges 

Does it offer free stock? No, but if you’re referred by someone else, you’ll get $50. 

Can you get more free stock? You can earn $50 per referral up to $2,500 a month. 

Do you have to keep your account open? Terms and conditions aren’t clear on this. 

TradeStation 

TradeStation was once a platform that provided exclusively for experienced (or at least high net-worth) traders, but it has since removed minimum funding requirements, expensive fees, and introduced cryptocurrencies. That said – it’s not for the complete beginner, as it won’t guide you by the hand. You need to know what you’re looking at to get the best from this platform. 

Ownership: Privately owned. 

Minimum sign-up investment: $0

Does it offer free stock? No. 

Can you get more free stock? No, but to explore their options for making more, see their promotions page

Do you have to keep your account open? N/A 

Vanguard 

Vanguard is the investment platform you’ll hear many investing experts recommending for everyday people, and with good reason. It’s one of the best if you want to invest the same way you save – adding money to your portfolio and doing little else in terms of management. If you want to do more than invest in index funds and similar, you’ll need to look at another platform, either instead of Vanguard or in addition to. 

Ownership: Vanguard is unique here because the company is owned by the funds the company manages – and therefore, the customers. 

Minimum sign-up investment: Varies depending on the fund, but most of the time you need $1,000 – $10,000 to get started. 

Does it offer free stock? No. 

Can you get more free stock? No. 

Do you have to keep your account open? N/A 

Webull 

Webull is a great commission-free investing app you can get on iOS or Android and offers you a free stock upon sign up. They offer all the usual things you’d expect from an investment app, such as ETFs, but have recently expanded to cryptocurrency, and options trading may come soon. 

Ownership: Privately owned (funded by venture capital). 

Minimum sign-up investment: $0 to open an account, $2,000 for margin accounts, $25,000 for unlimited day trading. 

Does it offer free stock? Yes, you get 1 free stock when you deposit $100. The stock you get is randomly chosen and so may have a value of anywhere between $8 and $1,600. Note that their offers change frequently, so make sure you see what their offer is when signing up. 

Can you get more free stock? Yes. At the time of writing, anyone who signs up will have a referral code that gives both you and the person signing up free stock.

Do you have to keep your account open? No – once you’ve got the stock you can leave it in the app to grow, or cash out. 

What are the tax implications of free stock? 

Any free stock you sign up for will be subject to capital gains tax if they increase in value and you want to sell the shares. There are two types of capital gains tax: 

  • Short-term: applies if you’re selling an asset you’ve owned for less than 12 months and is the same as your usual tax bracket. 
  • Long-term: applies if you’re selling an asset you’ve owned for over 12 months and depends on your filing status (varies from 0% to 20%). 

Long-term rates are usually lower than short-term rates, so as with so many things in investing, it usually makes sense to hold onto your assets for the long term. 

You also need to pay tax on dividends, if they qualify. 

The Bottom Line

Now you know all the best investment platforms, their offers, and who they’re best for, you can choose the investment platform(s) that is right for you. Remember to invest often and invest early. If you happen to pick an app that doesn’t work for you, you can always switch later, so just get started.

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Theresa is a personal finance blogger. She writes content for busy professional women to take control of their money and investments. She enjoys reading, traveling, cooking, and writing. Her work has been featured on GoBanking Rates, Your Money Geek, Savoteur, the Corporate Quitter, Thirty Eight Investing, and more.