Thanks to the development of user-friendly trading apps and online platforms, many modern investment brands offer free stocks or financial bonuses you can use to buy shares of your favorite companies.
Learn how you can get free stock now.
Where You Can Get Free Stock
Free trading apps and software live or die based on volume and engagement. It’s well worth it for platforms to offer fractional shares of today’s hottest stocks if it translates to higher usage statistics.
Below is a list of online and mobile platforms or brokerages that offer free stocks.
Get 1 Free Stock on Moomoo
Current promo: Open a Moomoo account for the first time and get 1 free stock, worth up to $3500!
One of the most versatile investment and trading apps, Moomoo enables anyone to engage the financial markets wherever life takes them. And the company goes a step above to deliver a robust series of analytical tools.
For instance, Moomoo offers free level 2 market data, affording you the same real-time bid and ask information that professional traders receive.
Moomoo also allows its users to access extended trading sessions. It also features no-commission transactions for U.S. stocks, American depositary receipts (ADRs), exchange-traded funds (ETFs) and options. Finally, moomoo partners with other institutions to offer free stocks in exchange for a specified action.
Get 1 Free Stock on Public.com
Current promo: FREE Stock from $3-$300. Use code BENZINGA3.
Public.com is currently only for mobile phones, but the platform is among the most intuitive and simple in the discount brokerage space. Downloading and setting up your account takes only minutes and you can begin trading as soon as your application is approved.
You can easily follow other users like a Twitter account and see who else is trading your favorite stocks. Seeing what others invest in, buying stocks or crypto, and reading up on new insights takes only a few finger taps.
Get 1 Free Share of Stock on Dough
Current promo: Initiate a successful deposit of at least $25 and receive a share of free stock within seven business days.
With dough, you get an attractive, commission-free stock and options trading platform loaded with educational literature and insightful podcasts, all available at your fingertips via a mobile app.
Best of all, both new and existing dough customers have a chance to accrue free stock by either signing up or convincing their friends and family to do so.
Check out Benzinga’s Dough review for more information.
Get 1 Free Share on Robinhood
Current promo: 1 share of free stock to your account when you link your bank account and fulfill the conditions in your promotion. You’ll be able to keep the stock or sell it after 2 trading days.
Robinhood recently attracted scrutiny for how it handled so-called meme stocks or stocks that move significantly based on a heavy social media following.
To make a long story short, Robinhood halted trading on several high-volume stocks due to liquidity and stability concerns.
Despite the controversy, Robinhood remains a popular trading app primarily for its gamification interface. It’s fun to trade on Robinhood, with satisfying sounds and graphics that accompany every transaction.
Although this too attracts eyeballs for its addictive qualities, Robinhood did help tune young people into investing.
Get 5 Free Stocks on Webull
Current promo: Get 5 free stocks when you open and fund an account with Webull!
Featuring a clean yet robust interface, Webull introduced many rookie investors to the equity markets.
Available as both a mobile app and online software, Webull allows you wide-ranging flexibility. You can use its myriad tools and resources to analyze specific stocks at home and then execute your strategies on the train ride to work.
Like other self-directed brokerages, Webull offers compelling incentives, including commission-free trades for stocks, options and ETFs and no account management fee.
The platform entices new users with free stocks with an initial account deposit.
Free Cash for Stock from Tornado
Current promo: Win up to $1,000 free cash to use for stock trading when you join.
What makes trading platform Tornado unique is its fresh take on social investing.
Rather than merely following the big volume trades, Tornado connects you to the stocks that famous investors and trusted friends are buying. From there, you can deploy several tools and news materials to determine your move.
Tornado is truly a revaluation on our investment strategies.
Taxes or Commission for Free Stocks
In most cases, brokerages and platforms that offer free stocks are structured as incentives for a specified action item, either signing up or setting up an account with a certain amount of money deposited. Therefore, you likely won’t have to pay commission for these benefits.
However, if you sell free stocks, then you may incur a capital gains tax on your profits. The opposite is also true. If you sold an investment at a loss, you may deduct your tax exposure through declaring a capital loss.
Stack the Deck in Your Favor
While the notion of free stocks seems hard to believe, they represent a sensible cost to the issuing platform or brokerage because they attract many new users. As the benefit to the new signee is not just the free equity ownership but that such offers reward consumers for doing something they would have done anyways.
You are already interested in trading stocks, so why not get a bonus for doing exactly that?
Frequently Asked Questions
Are stocks free money?
Not really. While you theoretically can join a brokerage with the purpose of cashing out the offered free stock, chances are, the value of the benefit is quite small. After incurring an unfavorable tax rate on selling said stocks, you will be left with very little money.
Instead, it’s better to treat the free stocks as a long-term investment and as an encouragement to consider building wealth for your future. To start, here’s Where You Can Get Free Stock Market Quotes.
Q. Can you get rich off of free stocks?
While anything is possible, the probability of getting rich off free stocks is next to 0. Almost always, you will receive stocks in well-known blue chips, which don’t have the upside potential of speculative vehicles like penny stocks.
About Joshua Enomoto
His distinct writing style of distilling convoluted data into relatable and compelling narratives has earned him recognition among several investment-related publications.