14 Best Robinhood Alternatives for Free Trading

We’ll break down these Robinhood alternatives, whether they charge any fees, and who they’re best for – so keep reading.

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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.

Robinhood
4.5

Robinhood has commission-free investing for stocks, options, ETFs, crypto, and tools to help shape your financial future. Sign up and get your first stock worth between $5 and $200, free.

Open Account Robinhood Review

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

best micro investing app 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

M1 Finance is a low-cost robo-advisor for self-directed investors. Basic M1 Invest accounts are free and have no monthly, management, or trading fees. M1 Plus members pay a $95 annual subscription fee or $10 monthly.

Account Minimum

The minimum deposit to open an M1 Finance account is $100, or $500 for retirement accounts. After making the initial deposit, you can customize your funding preferences.

Best for

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

Best for automated investing
M1 Finance
4.5
  • No fees on any of your investments
  • Choose from over 80 pre-built portfolios
  • Low $100 minimum investment amount
Open Account M1 Finance Review

2. Webull

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

Webull is an online trading platform that offers zero-commission trading. This means they do not charge fees for buying or selling stocks, options, or cryptocurrencies. However, Webull does charge a $0.55 per contract fee for certain options trades. Webull also charges a 100bps markup that is built into the price of the crypto you are buying/selling.

Account Minimum

Webull has no minimum deposit to open an account. You can deposit as little money as you want. However, if you want to short stocks, you'll need to open a margin account, which requires a minimum deposit of $2,000.

Best for

Webull is an appealing choice for those looking for a cost-effective, user-friendly platform with a wide range of investment options, including stocks, ETFs, options, and cryptocurrencies.

Get up to 16 free stocks
Webull
4.9

Expand your stock portfolio & own fractional shares of your favorite companies at a $5 min. Pay $0 in commission & management fees when you trade fractional shares with Webull.

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3. Public

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

The Public investing app is free to use as a basic member. There are no trading fees or commissions. However, you can upgrade to Public Premium for $8 per month to receive more advanced data, company financial metrics, and Morningstar research. Public Premium also unlocks advanced tools and insights to inform investment decisions.

Account Minimum

Public.com has a $0 minimum account requirement. However, there are minimums for investing in stocks and Treasury Accounts.

Best for

Public is a user-friendly application designed for novice investors, with an added social media component that enhances the investment experience. The platform provides the ability to invest in fractional shares, U.S. Treasuries, and even offers access to cryptocurrency investments.

Public
5.0

Public is an investment platform that allows users to buy, sell, and own fractional assets. These assets include stocks, ETFs, crypto, NFTs, art, and collectibles. As a Public member, you can now grow your savings in the same place you invest, enjoying an industry-leading 5.1% APY – a rate that's hard to find elsewhere. And the best part? There are no subscription fees, account fees, or maintenance charges.

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4. Acorns

best micro investing app 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 a $3 to $5 monthly fee to trade stocks, depending on the account type you choose.

Account Minimum

Acorns charges a $3 to $5 monthly fee to trade stocks, depending on the account type you choose.

Best for

The Acorns app is best suited for beginners and millennials who are looking to start investing with small amounts of money. Acorns is a micro-investing app that rounds up everyday purchases to the nearest dollar and invests the spare change into diversified funds or individual stocks.

Earn $20 bonus
Acorns
4.5

With Acorns, you can easily invest your spare change. Anyone can “squirrel” away some money and become an investor with Acorns. Enjoy a $20 welcome bonus when you open a new Invest account and set up recurring investments.

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5. SoFi Invest

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

SoFi doesn't charge advisory fees or management fees. However, many SoFi ETFs have high expense ratios. 

Account Minimum

SoFi Invest has no account minimum to open an account, but you need at least $1 to start investing. The minimum deposit is $0, so you can deposit as little money as you want.

Best for

SoFi Invest is suitable for a range of investors, particularly those looking for low-cost investing options and beginners. It offers easy-to-use apps and platforms, making it a good choice for newcomers.

Get up to $1,000 in stock when you fund a new account
SoFi Invest
4.8

SoFi Invest is one of the best investment apps, especially for beginners in the US. It offers an intuitive trading experience, active or automated investing, and options like cryptocurrencies. SoFi Invest offers a variety of investment options, including stocks, bonds, fractional shares, ETFs, options, IPOs, crypto trading, retirement accounts, and robo-advising. 

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6. 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 commission-free trading of US stocks and ETFs. However, there is a fee of $0.65 per trade for options trading.

Account Minimum

The minimum deposit at moomoo is $0. However, you need to fund your account to start trading. You might need to make a minimum deposit to qualify for a free stock promotion.

Best for

Moomoo is a stock broker that's good for both advanced and beginner traders. It offers a wide range of trading tools, including advanced charting, screening tools, and Level II Data. Moomoo also offers free quotes and smart order types.

Get up 15 free stocks
Moomoo
4.0

Moomoo offers zero-commission trading for stock, ETFs, and options on an advanced trading platform with robust research and analytical tools. New users can get up to 15 free stocks worth up to $30,000.

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7. 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

Wealthsimple has no fees for deposits, withdrawals, or Canadian stock and ETF trades. However, there are fees for other services: 

  • Wealthsimple Invest: Has a 0.5% yearly management fee for accounts under $100,000 and a 0.4% fee for accounts over $100,000. There is also a 0.2% yearly fee for ETFs.
  • Wealthsimple Trade: Has a 1.5% exchange rate fee for US stocks and ETFs. There is also a $10 monthly fee to upgrade to the Plus version. Broker-assisted trades cost $45.
  • Options trading: Costs $2 USD per contract.

Wealthsimple Cash accounts have no monthly fees, no minimum, and no overdraft penalties. 

Account Minimum

The minimum deposit for a Wealthsimple account is $0. Wealthsimple has no account minimums, which makes it easy for new investors to get started. Wealthsimple also offers a Wealthsimple Cash account with no monthly fees and no minimum. 

Best for

Wealthsimple is best suited for various types of investors, including those who are just starting out, passive investors in Canada or the U.K., socially responsible investors, those seeking halal investment choices, and millennials looking for simplified investing solutions.

Get $25 bonus
Wealthsimple
4.0
Only for Canadian investors

Wealthsimple makes it easy to grow your month like you are one of the world's most sophisticated investors. They offer an easy-to-use investment app that has low-fees.

Open Account Wealthsimple Review

8. Stash

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 is an investment app that charges a monthly subscription fee. The fees are $3 per month for the Stash Growth plan and $9 per month for the Stash+ plan. Stash collects the fee once a month, around the date you opened your account. 

Account Minimum

Stash has a $0 account minimum but managed Smart Portfolios require a $5 minimum investment. You can start investing with Stash with as little as $1.

Best for

Stash is best for a range of investors, particularly those who are just starting to learn about saving and investing. It's suitable for new investors who want to buy fractional shares, build their own portfolios, or utilize automated portfolios.

9. 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 offers two plans, a monthly membership for $4.95 per month or annual account fee of $50. Stockpile doesn't charge commissions for stock and ETF trades. 

Account Minimum

There's also no minimum deposit to open an account. Stockpile offers fractional shares, so you can buy stocks or ETFs with as little as $1.

Best for

Stockpile is best suited for those who are beginner investors and want an easy way to start investing early. It's particularly useful for individuals who prefer an accessible platform for buying fractional shares of stocks with no minimum balance and few account fees.

10. E*TRADE

E*TRADE is an online broker that offers a platform for trading financial assets. It's a subsidiary of Morgan Stanley, a global financial services firm. E*TRADE is one of the largest online brokers in the country. 

ETRADE offers two free trading platforms, ETRADE Web and Power E*TRADE. E*TRADE Web offers free streaming market data, real-time quotes, and more. 

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

E*TRADE charges $0 commission for online stock, ETF, and options trades.  However, options trades incur a per-contract fee.  The standard price is $0.65 per contract, but if you make more than 30 trades per quarter, the options commission declines to $0.50 per contract.  E*TRADE also charges $6.95 for penny stocks.

Account Minimum

The minimum deposit at E*TRADE is $0. E*TRADE doesn't require a minimum to open or maintain an account. However, some investments, like mutual funds, may require a minimum initial investment.

Best for

E*TRADE is best for a wide range of investors, including those seeking retirement planning assistance, beginner investors, and those looking for a broker with an outstanding platform. It caters to investors of all backgrounds and trading philosophies while consistently innovating to improve its services.

11. 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

Charles Schwab offers commission-free online stock and ETF trades. Online options trades cost $0.65 per contract. Service charges apply for automated phone trades ($5) and broker-assisted trades ($25). Futures trades cost $2.25 per contract.

Account Minimum

The minimum deposit to open a Charles Schwab account is $0. There are no fees to open or maintain a Schwab account. 

Best for

Charles Schwab is best suited for individuals seeking a brokerage with exceptional customer service, $0 trade commissions, and a diverse selection of mutual funds. It continues to enhance its offerings based on customer feedback, maintaining its performance among online brokers.

12. Fidelity

Fidelity is a brokerage firm that offers a variety of investment options, including stocks, bonds, and mutual funds. They also provide financial planning, advice, and educational resources. Fidelity is considered one of the safest brokerages to invest with.

They have a stellar reputation and are fully regulated in the U.S.. Fidelity is trusted by over 40 million people and holds over $9.9 trillion in assets under administration. Fidelity offers a variety of services, including: Retirement services, Wealth management, Securities execution and clearance, Asset custody, Life insurance.

Pricing/Commission

Fidelity offers commission-free online trading for stocks, ETFs, and mutual funds. There are no account fees or minimums to open a retail brokerage account. Fidelity also offers no-transaction-fee mutual funds and zero-fee index funds. Fidelity's fees are generally low. For example, they charge $0.65 per contract for option trades. Fidelity's pricing is transparent and competitive.

Account Minimum

The minimum deposit to open a Fidelity account is $0. Fidelity has no account fees and no minimums for opening or maintaining a brokerage account. 

However, some investment choices, such as mutual funds, may require a minimum initial investment. You can check each fund's prospectus for details. 

Best for

Fidelity is a good choice for investors of all levels, from beginners to sophisticated day traders. Fidelity offers a variety of research capabilities for stocks, ETFs, and fixed income. They also provide educational tools to help new investors get started. Fidelity has no account fees or minimums to open a retail brokerage account. However, some investment choices, such as mutual funds, may require a minimum initial investment.

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 doesn't charge commissions for stocks and ETFs priced at $2 or higher. For stocks priced below $2, Ally Invest charges a $4.95 base commission plus one cent per share. The maximum commission charge is generally 5% of the trade value.

Account Minimum

Ally Invest doesn't have a minimum balance or deposit to open a self-directed brokerage cash account. However, there is a $2,000 minimum deposit for self-directed brokerage margin accounts. Robo portfolios require a $100 minimum deposit

Best for

Ally Invest doesn't have a minimum balance or deposit to open a self-directed brokerage cash account. However, there is a $2,000 minimum deposit for self-directed brokerage margin accounts. Robo portfolios require a $100 minimum deposit

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

Ally Invest doesn't charge commissions for stocks and ETFs priced at $2 or higher. For stocks priced below $2, Ally Invest charges a $4.95 base commission plus one cent per share. The maximum commission charge is generally 5% of the trade value.

Account Minimum

Ally Invest doesn't have a minimum balance or deposit to open a self-directed brokerage cash account. However, there is a $2,000 minimum deposit for self-directed brokerage margin accounts. Robo portfolios require a $100 minimum deposit.

Best for

Ally Invest is a good choice for active traders and investors who are new to intermediate. Ally Invest offers commission-free investing, no minimum deposits, and 24/7 market access. They also have educational support, helpful tools, and good customer support. 

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.

About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News, Debt.com, Quick Sprout, Money Geek, MSN Money and many more!

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