It’s not uncommon to find different businesses that offer giveaways or freebies when you try their products or services. Online brokerage firms also do the same, and the trend among them is to give free stocks to newbie users of their platforms.
These new brokerage firms seek to disrupt the traditional model, and they are quite successful in doing so. Enticed by the promise of free stocks and no signup and commission fees, millions of users are flocking to these platforms to invest and trade.
So, if you want to avail yourself of free stocks, here are five online brokers that you should try right now.
Based out of New York City, Webull Financial LLC is one of the popular online brokers that don’t charge commission fees and have no minimum account requirement. It has an app that facilitates your investing and trading activities. And what’s great about this platform is that it offers free stocks worth up to $1,850!
You might be asking right now: how people are getting up to $1,850 In free stocks?
Well, first, you have to open a Webull account. Enter your real name, address, Social Security Number, and email. The free stock you can get by opening an account will be worth between $2.50 and $250.
But, wait, there’s more! When you fund an initial deposit of $100 or more into your account, you can get a second free stock valued between $8 and $1,600. Make sure to make an initial deposit 30 days after opening your Webull account.
Firstrade is another stock brokerage firm headquartered in New York. Like Webull, there’s zero commission fee when you trade with Firstrade. But unlike the previous broker mentioned on our list, Firstrade offers three free stocks instead of two.
When you sign up with Firstrade, you can get 1 free stock. Then, you can get 2 free stocks after depositing $100 or more within 30 days of opening your account.
Besides free stocks, there are also rebates if you transfer an account from another broker to Firstrade.
Considered the pioneer in $0 commission trading, Robinhood arguably has the most users on our list (at around 13 million). It was established in 2013 by two prominent figures in the world of high-frequency stock trading, Baiju Bhatt and Vladimir Tenev.
You can purchase and sell stocks and ETFs using Robinhood without shelling out commission fees. There’s also no maintenance charge that you have to pay. The millions of users of Robinhood surely get attracted by these offerings. Plus, there’s a free stock given to you upon signing up with this brokerage.
A free stock worth between $5 and $150 is to be given to anyone who opens an account and fulfills the conditions of the promotion. The free stock will be randomly selected from Robinhood’s inventory of settled shares.
Since it’s a random selection, you may not get the same stock as other new users. But the average stock value that you can receive is around $10.
NVSTR (pronounced as “investor”) isn’t a zero-commission trading platform like Robinhood and Webull. You have to pay $4.50 per trade, which is nevertheless affordable than most brokerages that charge commission fees.
The good thing is that there are no signup fees, no monthly fees, no fund transfer fees, and no closing fees. There’s also no minimum deposit, which is advantageous for traders across all wealth spectrum.
When you open an account with NVSTR, you can avail of free stocks valued between $20 and $500.
Public is a $0 commission trading platform that allows investors to purchase fractional shares of stocks for as low as $5. There’s also a social feature about its app, which lets you see the stocks people are investing in and their investment strategies when they make their positions public.
You also have the option to follow investment strategies, such as investments in American Made, Tech Giants, and other big companies. You can also purchase exchange-traded funds. Another advantage is that funds are Securities Investor Protection Corporation (SIPC) insured up to $500,000 and your uninvested money can gain 2.53% interest per year.
Upon signing up with Public, you can receive a free stock worth $10 from one of these 9 giant companies: Amazon, Microsoft, Apple, Chase, Visa, Facebook, J&J, Alphabet, or Alibaba. Make sure to provide your phone number so that you can get instructions regarding the signup process.
Online brokerage platforms are on the rise right now, and they’re vying for the top position. With this competition, various offerings and giveaways significantly benefit investors.
No commission fees, no minimum deposits, and free stocks are a few of the advantages that you can get from these brokers. If you want free stocks, you should try the brokerage firms mentioned on this list.