Anyone from online brokers to robo advisors offers free stock trading for new account holders. And now, with Robinhood finding wild success, you’ll find another new class of online brokerages looking to compete in the free stock trading world. With new brokerages and free stock trading promotions popping up, they can be hard to keep track of. That's why it's important for investors to stay on top of the best brokerage and investment apps.
Every month, Benzinga hunts down where you can trade for free and puts the brokers in the list below. You can check back on the 1st of each month for more exclusive deals, promotions and other opportunities for free trades. If you’re looking for a new brokerage, it’s also worth it to check out Benzinga’s picks for the best online brokers to compare services, fees, and other features.
Best Brokerage and Investment Apps
Check out which brokerage and investment apps made it into Benzinga’s top list. Use a combination of these apps to diversify your portfolio, increase your net worth and simplify your investments. Remember, apps are especially helpful if you travel frequently, cannot manage your investments on a work computer or work primarily on a mobile device.
- Best for Intermediate Investors: Webull
- Best for Active Traders: Moomoo
- Best for Retirement Savers: E*TRADE
- Best for Long Term Investors: Magnifi
- Best for Alt Investing: Public.com
- Best for Global Consumers: Revolut
- Best for New Investors: Robinhood
- Best for International Investors: Interactive Brokers
- Best for Copy Trading: eToro
1. Best for Intermediate Investors: Webull
Webull is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers economic calendars, ratings from research agencies, margin trading and short-selling. Its intuitive trading platform is complete with technical and fundamental analysis tools. Its a solid option for active intermediate and advanced traders.
You'll enjoy commission-free trading for more than 5,000 different stocks and ETFs. There are no maintenance or software platform fees, and no charge to open or maintain an account.
Pros
- Review economic calendars and more
- Short selling is available
- Margin options are robust
Cons
- May overwhelm novice traders
2. Best for Active Traders: moomoo
moomoo’s powerful app, complete with an intuitive investing platform, isn't just for first-time investors. In fact, you can get Level 2 market data, charts and technical indicators, 3rd-party ratings and insights, capital flows, graphs and more.
Don’t miss out on conditional alerts, its customizable stock screener and more. It’ll improve your trading experience. Don't miss out on moomoo's great deals on U.S stocks, ADRs, ETFs and options.
Pros
- Level 2 market data in realtime
- Several 3rd party ratings available
- Review many technical indicators
Cons
- Some assets may not available to you
3. Best for Retirement Savers: E*TRADE
E*TRADE leverages multiple platforms, 2 different mobile apps and a variety of account types and financial services to provide an inclusive brokerage experience. Most brokers aim their platform toward a specific type of investor, but ETRADE offers a little something for everyone. Does this overburden the trading system? Not at all.
E*TRADE offers 3 main avenues for providing clients with research and education to improve not only their trading acumen, but to better understand investing and markets. E*TRADE will walk you through the process of trading on their platform in a way no other broker does.
Pros
- Works well for new investors
- Helps you gather market information quickly
- Savings accounts available
Cons
- May not be powerful enough for advanced traders
4. Best for Long Term Investors: Magnifi
Magnifi is a marketplace that allows you, as the investor, to use common brokerage tools and AI to make the best decisions for your portfolio. Because you can pull up all the information you need on a given asset, you can easily invest in the assets that will give you the results you deserve and better match your strategy.
Search for the investment options that meet your needs, invest in specific categories or scan for assets in a price range that’s affordable for you.
Best for long-term investors and those who require a bit of client support, you can also learn more about investing from this platform, utilize the AI-powered investing assistant, enjoy commission-free investing, try the mobile app and take advantage of over 15,000 possible investment options. This makes Magnifi a good place to trade for both seasoned and novice traders.
Pros
- AI investing takes the work out of your hands
- Find all the market information you need
- Over 15,000 investment options
Cons
- The AI takes some time to get used to
5. Best for Alt Investing: Public.com
Public.com is the only investing platform that lets you buy, sell, and hold stocks and ETFs alongside crypto and alternative assets—like art and collectibles. There are no account minimums, and all accounts are cash accounts—no IRA or 401(k)s at this time—which makes for simpler investing and easier decision-making.
For every stock or ETF you want to buy, you can see all the information for that asset, a chart that tracks its trajectory, and historical data that allows you to learn and understand trends. This can also include access to advanced data, custom company metrics, and expert analyst insights through their Public Premium membership. It’s all about helping you be a better investor. Public even has a social feed to help you exchange ideas and opportunities with their active community of over one million investors.
Pros
- Scales for all types of traders
- Helps you save money on the side
- Offers a wide range of market data
Cons
- No retirement accounts available
6. Best for Global Consumers: Revolut
Revolut is a unique money app that brings several financial services into one package. When you download the Revolut app, you gain access to a service that:
- Lets you pay and get paid any time around the world
- Transfer money between apps
- Invest in stocks and other assets
- Exchange currency
- Get a prepaid debit card in multiple countries
- Travel with less stress
- Budget and manage your finances
Because Revolut allows you to invest in stocks, you can take even greater control over your finances, making it possible for you to create new income streams and build your portfolio. Using Revolut makes it much easier to manage your money instead of using several different apps and trying to bring them together.
Pros
- Helps with money transfers and exchange rates
- Prepaid debit cards available
- Makes budgeting simpler
Cons
- Not a traditional investment app
7. Best for New Investors: Robinhood
Robinhood is the broker for traders who want a simple, easy-to-understand layout without all the bells and whistles other brokers offer. Ist's a great brokerage and investment apps for beginner traders. Though its trading options and account types are limited, even an absolute beginner can quickly master Robinhood’s intuitive and streamlined platform. On the other hand, more advanced traders might be frustrated by Robinhood’s lack of technical analysis tools, a feature that’s now nearly universal across other platforms.
Robinhood only offers basic research tools. Though the brokerage has been making an effort to improve its options in recent months, the level of fundamental and technical analysis tools still pale in comparison to almost every other competing broker.
Pros
- Works well for beginner investors
- Retirement and precious metals options are available
- Lots of extra investment information available
Cons
- Has a history of halting trading on popular assets
8. Best for International Investors: Interactive Brokers
IBKR is geared primarily toward experienced investors. IBKR has always been a top choice for professional brokers, but its new IBKR Lite accounts can appeal to new investors looking to test the waters of trading. However, IBKR still maintains its host of professional tools and charting software. Outside of its trading platform, Interactive Brokers offers a wide range of educational tools and resources you can use to learn more about trading.
Interactive Brokers offers trades full access to the U.S. stock market on both its Pro and Lite platforms. You can even access stocks listed on European and Asian stock exchanges to buy and sell foreign securities. Most traders will pay $0 on all of their commissions, but high-value Pro account holders may pay a fraction of 1 cent per share.
Pros
- Makes it easy to buy and sell foreign securities
- Most traders pay $0 commissions
- Pro accounts are available
Cons
- May be too overwhelming for novice traders
9. Best for Copy Trading: eToro
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) and USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections and not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
With eToro, you gain access to crypto and stocks, allowing you to build a diverse portfolio in your own time. While eToro is known for helping investors buy into the crypto market, stocks are also available.
With the eToro app, you can purchase U.S. stocks and ETFs and add them to your existing crypto portfolio. As part of the new stock offering, you can:
- Invest in full stocks or fractions for as little as $10
- Engage with real, experienced investors about strategies
- Combine your crypto and stocks investments
- View detailed prices charts
- Pay zero commissions
As always, you may also invest in cryptocurrencies like Bitcoin, Ethereum, Litecoin and many more. You may also upgrade your portfolio with CFD trading when you’re ready.
Pros
- Works well for international traders
- Low minimums
- Zero commissions
Cons
- Certain assets may not be available
Choosing an Investment App
When choosing brokerage and investment apps, you should be aware of the following:
- Price – Many investment apps are free to use. Fees and commissions can definitely impact how you trade, so if you are just starting out as an investor, you may want to try free options. You can save money while you learn how to invest, only paying commissions when you are comfortable making larger or more complex investments.
- Platform – iOS and Android dominate the market. But don’t forget about desktop apps as they might be more helpful if you use a desktop or laptop computer every day.
- Reviews – We have reviewed a number of top online brokers ourselves, but we also look for what users are saying.
Using Investment Apps to Reach Your Trading Goals
Investment and brokerage apps have become increasingly popular in recent years as they offer convenient ways to manage finances. These apps provide users with the ability to buy, sell, and trade stocks, bonds, mutual funds, ETFs, and other financial instruments while on the go.
Many of these apps also offer advanced features such as research tools, robo-advisors or automated portfolio management services, budgeting tools, and much more. Use this list to choose the brokerage app that meets your investing goals, and start trading today!
Frequently Asked Questions
Which invesment app can make you rich?
You can earn money investing the right way on essentially any investment app. However, making money on any investment includes a great amount of research and decision making.
Do investment apps really work?
Investment apps can be effective tools for investing. By providing easy access to investment accounts and resources. On the other hand, investment apps can also be risky. Many apps offer options for high-risk investments, which can result in significant losses if not managed cautiously.
What is the best brokerage and investment app for new investors?
One of the best apps for new investors is Robinhood.