Here are 4 well-known apps that I use where you can easily start investing as well as a few pros/cons to be aware of (although there is no harm to sign up for all of them just to try and get the free stocks). Also, none of these services charge commissions for stocks/ADRs/ETFs or have account minimums.
In my previous post, I shared how I got started with stocks and also some tips for new investors (highly recommend reading that before continuing).
The app that made investing cool for millennials
- Beautiful and intuitive UI (mobile and web)
- Fractional shares (TSLA too expensive at $900? Just buy what you can afford)
- Most popular app for beginner investors
- No retirement account support (not great for retirement investing)
- Limited customer support
- Could be unreliable, not great for serious investments
[referral] Sign up and get 1 free stock, no deposit needed!
Mission to make trading as transparent as possible and something everyone can understand
- Fractional shares
- Clean, user-friendly UI (rivals that of Robinhood's)
- Integrated news feed
- UPDATE 2/17/21: No longer participates in Payment-For-Order-Flow after Robinhood/GME market event, huge plus!
- Basic features not great for serious investors (and day traders)
- No web application (only iOS and Android)
[referral] Get a free slice of Apple, Disney, Tesla, etc... (you get to choose!)!
Trading platform that is great for beginners and more serious investors
- Great signup offer
- After-hours trading
- Detailed charting features can be great for advanced traders
- No fractional shares
- No retirement account support
- Overly complicated charts can throw off new investors
[referral] Deposit $100 and get 2 free stocks valued up to $1850!
4. Cash App
All-in-one money app by Square
- Fractional shares
- Peer-2-Peer transactions, stocks, crypto, and more all in one place
- Minimalistic and beginner-friendly UI
- Limited investing tools, not for serious investors
- Trading only via mobile app, limited web UI
[referral] Get $5 (which you can use to invest) after sending $5
Note: There are other apps/services out there, but I haven't used them so can't say much about them. Make sure to do your own research and read up on a few blogs and YouTube videos to get different perspectives!
Also note that none of these are perfect for serious investors or to hold large sums of retirement money. For my own serious investments, I use Charles Schwab which I will cover in a future article.
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