14 Best Robinhood Alternatives for Free Trading

If you are looking for the best Robinhood alternatives to open a brokerage account, this post is going to show you what the top apps like Robinhood are. When it comes to finding the best Robinhood alternatives or top apps like Robinhood, find an investment app that is right for your needs.

The key is identifying your investment goals and then finding a broker the offers you the right investment account to help achieve your short term or long term investing goals.

What is Robinhood? 

Robinhood platform and app is the most popular investment app that started offering free online traders in 2015. However, Robinhood’s competitors started offering commission-free trades soon, too, so zero-commission fee trading is now not special as it has become industry standard.

Although Robinhood remains the leader when it comes to investment apps, some investment apps like Robinhood also score well on user experience and other areas. 

The minimum amount required to open an account with Robinhood is $0. It does not charge any fees to trade stocks. You can even buy Bitcoin and other cryptos on the platform. In a nutshell, Robinhood is best for mobile users, individual taxable accounts and margin accounts.

Related: Best Stock Broker Promotions, Deals, & Bonuses

Is there a better app than Robinhood?

Robinhood made investing accessible to just about anyone in a lot of different ways, including offering free trades in a time when the average trading fee is $9! Robinhood enables people to buy fractional shares where you can buy a piece of a stock or share of a single high-value stock. So 

Many people are migrating from Robinhood after the Great Meme Stock Debacle of 2021. While Robinhood still remains a popular investing app for many beginner investors, it is not the only one out there. So, if you want to open an alternative or supplement account or open your first investment account, we highly recommend that you check out our recommendations below. 

Best Robinhood Alternatives

Here are our top apps like Robinhood if you are looking for the best Robinhood alternatives.

1. M1 Finance

M1 Finance is a very easy-to-use app that allows you to invest your way so you can build wealth your way. The app allows you to build a custom portfolio by choosing the stocks and funds from more than 80 expert portfolios. M1 Finance offers various types of accounts, such as brokerage accounts (Individual and Joint), retirement accounts, trust accounts and custodial accounts.

The app enables you to buy fractional shares. You can choose from over 6,000 stocks and ETFs that are listed on NYSE and the NASDAQ exchanges. You can automate your contribution. The platform will also rebalance your portfolio for you.

Pricing/Commission

No fees to trade stocks or asset management fees.

Account Minimum

No amount is required to open an account.

Best for

M1 Finance app is best for those who want to create portfolios containing low-cost ETFs or use individual stocks – or both.

2. Webull

Webull is an app-based trading platform and one of the best Robinhood alternatives that offers zero fee, zero commission and requires no minimum amount to open an account. However, Webull does not allow you to buy fractional shares.

The platform is easy to navigate, so it offers a great user experience. Webull offers extended trading hours, so is is good for active traders. There are no trading fees and minimum amount required to open an account.

Pricing/Commission

Zero fees to trade stocks

Account Minimum

$0 amount required to open an account

Best for

Webull app is best for active traders

3. Public

Public is a commission-free stock brokerage company. You can build your investment portfolio using the Public app. It allows you to invest in fractional shares of stocks and ETFs. It is a free investment platform that is particularly suitable for new investors. 

If you want to buy fractional shares, i.e. buy less than a whole share of any particular stock, it is for you. It is one of the best Robinhood alternatives. Within the Public app, you can see other traders’ trading activity so you can copy their strategy completely or get trading ideas from their strategy.

Pricing/Commission

$0 commission or fee to trade stocks

Account Minimum

$0 amount required to open an account

Best for

Public app is best new investors

4. Acorns

Acorns is a popular micro investing app that is specially designed for new investors. Acorns automatically invests your spare change and offers cashback at select retailers. It is one of the best investment apps like Robinhood.

The app has an easy-to-navigate interface. Unlike other Robinhood alternatives on the list, their fees are on the high side. However, its automatic savings features help people save more towards investing. 

Pricing/Commission

Acorns charges $1-$3 fee per month to trade stocks, depending on the account type you choose

Account Minimum

$0 amount required to open an account

Best for

Acorns app is best for new investors

5. Stash

Stash is a popular online brokerage firm and one of the best Robinhood alternatives if you are interested in buying fractional shares. Fractional shares make it easy to invest what you can afford on a set schedule.

Traders on Robinhood enjoy free trading and are more active, but Stash provides far more educational material and a managed portfolio. However, Stash charges higher fees than other Robinhood alternatives on the list.

Pricing/Commission

Stash charges a $3-$9 per month fee, depending on what services and account types you are looking for

Account Minimum

Invest any dollar amount

Best for

The Stash app is best for complete beginner investors or traders

Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures.

Nothing in this material should be construed as an offer, recommendation, or solicitation to buy or sell any security. All investments are subject to risk and may lose value.

6. SoFi Invest

With SoFi Invest, you can get started investing with as little as $5. They allow you to buy and sell stocks of your own choosing. Its automated investing option offers one of the best robo advising platforms. The platform also provides free educational seminars and meetings with financial advisors.

SoFi offers individual investment accounts, joint accounts (held by two people) and a range of retirement accounts and rollover options. Once you download the app and open an account, you can get up to $1,000 in free stocks.

Pricing/Commission

$0 commission or fee to trade stocks

Account Minimum

$0 amount required to open an account

Best for

The SoFi app is best for new investors

7. MooMoo

The MooMoo app is a 0% commission professional trading platform that is free and easy to use. The platform provides free in-depth market data and useful analytical tools to help you make smart investment decisions.

MooMoo offers free stocks (depending on terms and conditions) to new customers if they open a brokerage account during the promotion period.

Pricing/Commission

MooMoo offers $0 commission or free to trade stocks

Account Minimum

No minimum amount required to open an account

Best for

The MooMoo app is best for both beginners and experienced  traders

8. Gatsby

Gatsby is an app that allows you to trade stocks and options. The platform also allows their users to earn rewards points for each eligible trade they do. They can then redeem their rewards points for cash at the end of each month. It offers 

The app has an easy, clean interface, so it is very easy to use. The Gatsby platform does not support IRA accounts.

Pricing/Commission

$0 commission or fee to trade stocks and options

Account Minimum

$0 minimum amount required to open an account

Best for

The Gatsby app is best for investors or traders who are interested in trading options

9. Wealthsimple

The Wealthsimple app is a popular investing app that has an easy-to-use interface. Users can build a personalized diversified portfolio (including socially responsible and halal/Shariah-compliant options) specific to their goals.

Users can invest in fractional shares through the Wealthsimple app. It offers automatic rebalancing and expert financial advice. Overall, this is a popular and one of the best trading and investing apps like Robinhood.

Pricing/Commission

0.5% fees for balance $99.999 and less, and 0.4% for balances above $100,000

Account Minimum

$0 minimum amount required to open an account

Best for

The Wealthsimple app is best for beginner investors and socially responsible investors

10. Stockpile

Stockpile is an app-based brokerage firm that offers a simple, streamlined interface to buy and sell stocks and ETFs easily. It is a great platform for newbie investors who want to build diversified portfolios. Stockpile, however, does not offer a broad range of products.

Stockpile was built with young people in mind to encourage them to start trading early. The platform offers gift card options and custodial accounts to help kids and teens learn about investing early in stocks.

Pricing/Commission

Stockpile charges $0.99 fees to trade stocks

Account Minimum

There is no minimum amount required to open an account

Best for

This app best for young investors looking to invest in stocks

11. E*TRADE

With an E*TRADE brokerage account, you can start trading immediately. This trading platform works best for advanced traders, intra day traders, derivative traders and those saving for retirement.

You can trade on mobile or trade using the website through the platform.

Pricing/Commission

you will pay $0 fees/commissions to trade stocks, ETFs and options trades with E*TRADE

Account Minimum

$0 amount required to open an account

Best for

This trading platform works best for advanced traders, intraday traders, derivative traders and those saving for retirement.

12. Charles Schwab

Charles Schwab is a popular and one of the leading online brokerage platforms when it comes to trading stocks online. It offers three trading platforms, including two mobile apps and a browser-based platform. 

Charles Schwab offers a wide range of products for all investors and traders. Charles Schwab is particularly good when it comes to retirement savings as it offers better account types. It has a highly rated app-based platform called Schwab Mobile which is one of the best apps like Robinhood.

Pricing/Commission

$0 commission or fee to trade stocks

Account Minimum

$0 amount required to open an account

Best for

Schwab Mobile (Schwab’s app) is best for both beginner investors and advanced traders and specifically for those looking to save for retirement

13. Fidelity

Fidelity is one of the largest brokerages in the U.S. Using your Fidelity mobile app you can invest in fractional shares. The app lets you access your investment account whenever and wherever you want. 

You can trade anytime, anywhere with the Fidelity app or mobile platform. You can use its app on your mobile device to contribute to your IRA.

Pricing/Commission

$0 commission or fee to trade stocks

Account Minimum

$0 amount required to open an account

Best for

Fidelity app/site is best for frequent traders and beginner investors

13. Ally Invest

Ally Invest is one of the best Robinhood alternatives that offers a wide range of investment choices. The platform also offers a wide selection of resources, including advanced charting tools to help investors make the right investment decisions.

Users have access to advanced charting tools and numerous calculators.

Pricing/Commission

Ally Invest offers $0 commission or fee when trading on eligible U.S.-listed stocks and ETFs

Account Minimum

$0 account minimum required to open an account

Best for

This app is best for investors of all experience levels, i.e. both new and experienced investors and traders.

14. TD Ameritrade

TD Ameritrade is one of the best Robinhood alternatives when it comes to stock trading online. TD Ameritrade and Charles Schwab are now part of a single company. The platform offers more trading options than Robinhood, and does not charge commission or fee to trade stocks online.

It is one of the easiest trading platforms you can use on both mobile and desktop. The platform offers a wide selection of products to choose from to build your portfolio. Trading fees for options are comparable to most other platforms, which helps keep investment costs low. TD Ameritrade doesn’t offer fractional shares, but the options for stock research are tremendous.

Pricing/Commission

TD Ameritrade does not charge commission or fees to trade stocks

Account Minimum

$0 minimum amount required to open an account

Best for

The TD Ameritrade app is best for all levels of investors, especially self-directed investors and traders

The Best Robinhood Alternatives

If you are like many people, worried about losing the great features Robinhood does offer, these are the best Robinhood alternatives. You really need to choose from the best Robinhood alternatives. But make sure you do your research to understand all the many types of brokerage accounts, so you can make sure you are choosing the right investment app for your needs.