Best Free Investing Apps (USA 2026)
Every investing app in 2026 claims to be free. Most of them mean free stock commissions — which is true, and genuinely useful, but not the whole cost picture. A complete answer to “is this app actually free?” requires looking at every layer where an app could charge you: account fees, subscription costs, options contract fees, expense ratios on funds, payment for order flow that affects trade execution quality, and the APY you earn (or don’t earn) on uninvested cash.
This guide identifies the investing apps that are genuinely closest to free across all those dimensions — not just zero commissions on stock trades.
What “Free” Actually Means for an Investing App
Before comparing apps, defining the five cost layers that matter:
Trading commissions — The fee charged per stock or ETF trade. Zero across virtually every major app. This is the cost that’s been eliminated industry-wide.
Account fees and subscriptions — Monthly or annual charges to maintain the account or access features. Some apps charge nothing; others charge $3–$12/month. This is where “free” apps most commonly aren’t.
Options contract fees — A per-contract charge added to each options trade even when commissions are zero. Ranges from $0 to $0.65+ per contract.
Expense ratios — The annual cost built into the funds you buy, charged as a percentage of your balance. Not collected by the app directly but reduces your investment returns. Ranges from 0.00% (Fidelity’s FZROX) to 1.00%+ for actively managed funds. For long-term investors this is the most consequential fee.
Uninvested cash APY — The interest rate the app pays on money sitting in your account between investments. Ranges from near-zero to 4.5%+. An app that earns you nothing on idle cash is a hidden ongoing cost relative to one that earns 4%+.
The apps below are evaluated against all five dimensions, not just commissions.
1. Fidelity — Most Genuinely Free OverallFidelity wins the genuinely free category because it eliminates costs at every layer simultaneously — something no other app on this list fully matches.
Trading commissions: $0 on all US stocks and ETFs.
Account fees: $0. No monthly fee, no annual maintenance charge, no inactivity fee.
Options contract fees: $0.65 per contract — the one area where Fidelity charges above zero.
Expense ratios: Fidelity ZERO Total Market Index Fund (FZROX) and Fidelity ZERO International Index Fund (FZILX) carry a 0.00% expense ratio — the only zero-cost index funds available at any major US brokerage. Every dollar invested in FZROX stays fully invested with no annual drag whatsoever.
Uninvested cash: Fidelity’s default cash sweep into money market funds earns a competitive rate — currently well above the near-zero rates that some competitors default to.
No PFOF on equities: Fidelity does not sell retail equity order flow to market makers, which typically results in better trade execution prices than PFOF-reliant platforms.
What you get for free: $0 account open, $0 account fees, $0 stock/ETF commissions, 0.00% expense ratio on FZROX and FZILX, 24/7 phone support, 200+ branches, best-in-class education, full retirement account range, 10,000+ no-transaction-fee mutual funds, and fractional shares from $1.
The only meaningful cost at Fidelity for most beginners is the $0.65 options contract fee — irrelevant if you’re not trading options.
Best for: Anyone who wants the lowest possible total cost across every investment activity, particularly long-term investors holding index funds.
2. Charles Schwab — Free With Unmatched Tools
Schwab matches Fidelity on nearly every fee dimension and surpasses it in one area: the complete thinkorswim professional trading platform is free to all Schwab account holders — no subscription, no upgrade required.
Trading commissions: $0 on stocks and ETFs. $0 on 4,000+ mutual funds.
Account fees: $0. No monthly fees, no inactivity fees, no annual charges.
Options contract fees: $0.65 per contract.
Expense ratios: Schwab’s own ETFs (SCHB, SCHX, SCHF) carry expense ratios starting at 0.03% — among the lowest available outside Fidelity’s zero-fee funds.
Uninvested cash: Competitive sweep rates. Schwab Intelligent Portfolios requires a 6%+ cash allocation — a meaningful opportunity cost for robo-advisor users.
thinkorswim at no cost: The platform that professional traders pay for at other brokers is entirely free for Schwab account holders. Paper trading with unlimited virtual funds, 400+ technical studies, futures trading, options analytics — all at zero.
What you get for free: Everything Fidelity offers (minus the FZROX advantage), plus free access to thinkorswim, free paper trading, 300+ physical branches, and 24/7 phone support.
Best for: Investors who want Fidelity-level free access plus the option to grow into professional trading tools without ever paying for an upgrade.
3. Robinhood — Free Stock, ETF, and Options Trading
Robinhood’s free tier is genuinely comprehensive for stock and options traders. Unlike Fidelity and Schwab, it charges $0 per options contract — making it the lowest-cost options trading platform among all mainstream retail brokers.
Trading commissions: $0 on stocks, ETFs, options, and crypto.
Options contract fees: $0 per contract — the key differentiator from Fidelity and Schwab.
Account fees: $0 on the standard free tier. Robinhood Gold ($5/month) is entirely optional and unlocks specific premium features.
Expense ratios: Standard market rates on ETFs (Robinhood doesn’t create its own funds). No zero-expense-ratio proprietary funds.
Uninvested cash: Standard free accounts earn a low APY — near-zero on the free tier. Robinhood Gold members earn 4.5% APY on uninvested cash, which meaningfully changes the value calculation for users who hold cash balances.
IRA match: 1% on all IRA contributions free, 3% with Gold. The only major brokerage offering an IRA match — this is free money on every retirement contribution.
What you get for free: $0 commissions on everything including options contracts, fractional shares from $1, 22+ crypto assets, 24-hour trading on select securities, and the cleanest mobile interface available.
Hidden cost awareness: Robinhood uses payment for order flow on all trades. This doesn’t show up as a fee but may result in slightly less favorable execution prices than non-PFOF platforms like Fidelity.
Best for: Options traders who want $0 per-contract fees, mobile-first investors who want maximum simplicity, and retirement savers who want the IRA match.
4. Webull — Free Advanced Tools and $0 Options
Webull delivers institutional-quality analytical tools at genuinely zero cost — including Level II market data that competitors charge $15–$30/month for, and $0 per options contract fees alongside paper trading.
Trading commissions: $0 on stocks, ETFs, options, and crypto.
Options contract fees: $0 per contract.
Account fees: $0. No monthly or annual fees on the standard account.
Expense ratios: Standard market rates on ETFs.
Uninvested cash: Competitive APY on cash balances — Webull has improved its cash sweep rates significantly.
What you get for free: $0 commissions on everything, 52 technical indicators, free paper trading ($1 million simulated), extended-hours trading 4 AM–8 PM ET, earnings calendars, analyst ratings, financial statement data, and real-time market data.
Optional paid feature: Level II Nasdaq TotalView data costs $14.99/month — genuinely useful for active traders but not needed for most investors.
Best for: Investors who want professional charting and analysis tools without paying for them, options traders seeking $0 per-contract fees, and beginners who want to paper trade before investing real money.
5. Public — Free with Options Rebates
Public offers zero commissions on stocks, ETFs, and options — and uniquely, it pays rebates on options trades rather than simply charging zero. This means active options traders on Public can actually earn money back on trades rather than paying per contract.
Trading commissions: $0 on stocks and ETFs.
Options contract fees: $0 per contract, with rebates available on eligible options trades — effectively negative cost.
Account fees: $0 on the standard account. Public Premium charges a monthly fee for advanced features.
Expense ratios: Standard market rates.
Uninvested cash: Public offers a Treasury-backed cash account earning competitive APY — one of the better uninvested cash rates among free-tier apps.
No PFOF: Public eliminated payment for order flow on equity trades — similar to Fidelity’s approach and generally resulting in better trade execution prices.
Investment breadth: Stocks, ETFs, options, bonds (US Treasuries accessible directly), crypto, and alternative assets (art, collectibles) — the broadest asset selection of any app on this list at zero commission.
What you get for free: $0 trading on everything, options rebates, no PFOF, Treasury bonds directly accessible, competitive uninvested cash APY, and a social investing community that provides market context without a subscription.
Best for: Options traders who want to be paid for trading rather than charged, investors who want the broadest free asset access including bonds and alternatives, and those who value PFOF-free trade execution.
6. SoFi Invest — Free Automated Portfolio Management
SoFi is the only major platform that charges zero management fee on its automated portfolio (robo-advisor). Every other robo-advisor on the market charges 0.25%–0.35% annually. SoFi charges nothing.
Trading commissions: $0 on stocks and ETFs.
Account fees: $0.
Robo-advisor management fee: $0 — genuinely free automated portfolio management, including automatic rebalancing and dividend reinvestment.
Options contract fees: $0 commission on options trades.
Expense ratios: Standard market rates on ETFs within the automated portfolio.
Free CFP consultations: All SoFi members receive access to certified financial planner consultations at no charge — a service that costs $150–$300 per session elsewhere. This is one of the most underappreciated free benefits of any investing app.
IPO access: SoFi offers access to IPOs at the offering price — a feature typically reserved for institutional investors, provided free to all members.
Uninvested cash: Competitive APY through SoFi’s banking integration.
Best for: Investors who want fully automated portfolio management at zero management cost, those who want free financial planning guidance, and anyone managing multiple financial products (banking, loans, investing) in one app.
7. Vanguard — Free for Index Fund Investors
Vanguard invented index fund investing and its fund lineup remains the gold standard for long-term low-cost wealth building. For investors committed to a buy-and-hold index fund strategy, Vanguard’s expense ratios make it one of the genuinely cheapest options available.
Trading commissions: $0 on Vanguard ETFs and US stocks.
Account fees: $0 with paperless statements (waives the $20 annual service fee). Effectively free with one settings toggle.
Options contract fees: $1.00 per contract — the highest on this list.
Expense ratios: Vanguard ETFs (VOO at 0.03%, VTI at 0.03%, BND at 0.03%) are among the industry’s lowest-cost funds, beaten only by Fidelity’s zero-fee funds.
Uninvested cash: Automatically sweeps into the Vanguard Federal Money Market Fund — one of the better default uninvested cash treatments in the industry.
Robo-advisor fee: Vanguard Digital Advisor charges approximately 0.20% annually — slightly below Betterment and Wealthfront’s 0.25%.
Limitation: The app experience is more functional than polished. It lacks the sleek modern interfaces of Robinhood or Webull. But for investors who intend to buy three index funds and hold them for 30 years, interface design matters very little.
Best for: Long-term buy-and-hold index fund investors who want the lowest possible ongoing fund costs and are comfortable with a more utilitarian app experience.
8. Firstrade — Free Options Trading
Firstrade is less well-known than the other apps on this list but earns inclusion for a specific reason: it charges $0 on stock trades, ETF trades, mutual fund trades, and options trades — including $0 per options contract — with no subscription fee required.
Trading commissions: $0 on stocks, ETFs, mutual funds, and options.
Options contract fees: $0 per contract.
Account fees: $0. No subscription, no monthly fee, no inactivity fee.
Mutual funds: Thousands of mutual funds at $0 commission — one of the broader free mutual fund selections available.
Expense ratios: Standard market rates.
Uninvested cash: Competitive but not best-in-class.
Limitation: Less brand recognition and smaller research library than the major platforms. Customer support is more limited than Fidelity or Schwab.
Best for: Options traders who want zero per-contract fees combined with free mutual fund access, without paying for a subscription.
The True Cost Comparison
When you evaluate all five cost dimensions side by side, the picture changes significantly from the “all apps are free” headline:
| App | Stock Commission | Options/Contract | Monthly Fee | Best Expense Ratio | Cash APY |
|---|---|---|---|---|---|
| Fidelity | $0 | $0.65 | $0 | 0.00% (FZROX) | Competitive |
| Charles Schwab | $0 | $0.65 | $0 | 0.03% (SCHB) | Moderate |
| Robinhood | $0 | $0 | $0 (Gold $5 opt.) | Standard | Low (Gold: 4.5%) |
| Webull | $0 | $0 | $0 | Standard | Competitive |
| Public | $0 | $0 + rebates | $0 | Standard | Competitive |
| SoFi Invest | $0 | $0 | $0 robo fee | Standard | Competitive |
| Vanguard | $0 | $1.00 | $0 | 0.03% (VTI/VOO) | Good (money market) |
| Firstrade | $0 | $0 | $0 | Standard | Moderate |
Which Free App Is Right for Your Situation?
You want the absolute lowest total cost across every dimension: Fidelity. Zero account fees, zero commissions, and the only 0.00% expense ratio index funds in the industry. The $0.65 options fee is the only cost that applies, and only if you trade options.
You want free options trading: Robinhood, Webull, Public, or Firstrade — all charge $0 per options contract with no subscription required.
You want free automated portfolio management: SoFi Invest. The $0 robo-advisor management fee is genuinely unique in the industry. Every other automated investing service charges 0.25%+.
You want free professional trading tools: Charles Schwab — thinkorswim with paper trading is free for all account holders. Webull — 52 indicators, paper trading, and extended hours at zero cost.
You want the best free uninvested cash rate: Robinhood Gold ($5/month) pays 4.5% APY, but that requires a subscription. Among genuinely free tiers, Vanguard’s default money market sweep and SoFi’s banking integration tend to earn more than Fidelity’s or Schwab’s defaults.
You want free access to the broadest range of assets: Public — stocks, ETFs, options, bonds, crypto, and alternatives at zero commission on a single platform.
What These Free Apps Have in Common
Despite their different strengths, all eight genuinely free investing apps on this list share four characteristics that matter most for investors trying to minimize costs.
① They charge $0 to open an account and $0 in annual maintenance fees. There is no threshold balance required to avoid fees.
② They charge $0 commissions on US stock and ETF trades. The cost of buying and selling standard investments is eliminated.
③ They provide SIPC protection up to $500,000 per account through FINRA and SEC regulation. Your investments are protected regardless of which free platform you use.
④ They support Roth IRA accounts — the most tax-efficient structure available to most US investors — at no additional cost beyond standard account terms.
What “Free” Apps Still Cost You (and How to Minimize It)
Even among the genuinely free apps, four costs remain relevant and worth managing.
Expense ratios on funds you choose: Even if the app is free, the funds inside it aren’t always zero cost. Choosing FZROX (0.00%) at Fidelity over an actively managed fund at 0.75% saves approximately $75/year per $10,000 invested — compounding significantly over decades.
Options contract fees at some apps: Fidelity, Schwab, and E*TRADE charge $0.65 per contract. Robinhood, Webull, Public, and Firstrade charge $0. If you trade options, this matters.
Payment for order flow (PFOF): Most free apps sell your order flow to market makers, which may result in slightly less favorable execution prices. Fidelity and Public don’t use PFOF on equity trades. The cost is invisible but real for frequent traders.
Opportunity cost on idle cash: If your app earns 0.01% on uninvested cash sitting between purchases and a competitor earns 4.5%, that difference is a real ongoing cost relative to the better option. Keep uninvested cash working — either in a money market sweep or in a separate HYSA — rather than letting it idle at near-zero rates.
FAQ
Q: Are free investing apps actually safe? Yes. All apps on this list are regulated by the SEC and FINRA, and are SIPC members covering balances up to $500,000 per account. Being free has no bearing on safety — the regulatory protections are identical whether you use a free app or pay $30/month for premium features.
Q: What’s the catch with free investing apps? The most common “catch” is payment for order flow — apps sell your orders to market makers who execute them, potentially at marginally less favorable prices. This doesn’t show up as a line item but represents a real indirect cost for frequent traders. Fidelity and Public don’t use PFOF on equity trades. The other common hidden cost is near-zero uninvested cash rates at some platforms.
Q: Is Fidelity really free? Yes for most users — zero account fees, zero commissions on stocks and ETFs, and zero expense ratio on FZROX and FZILX index funds. The only Fidelity charge that applies to most users is the $0.65 options contract fee, which only matters if you trade options.
Q: Can I start investing with $0 on these apps? You can open accounts at all eight apps with $0 and no minimum balance requirements. To make an actual investment, you’ll need enough for at least one fractional share — starting at $1 at Fidelity, Robinhood, and Public. The investment minimum is effectively $1.
Q: Which free app is best for a Roth IRA? Fidelity for the lowest long-term cost (0.00% expense ratio FZROX in a permanently tax-free Roth IRA). Robinhood if the IRA contribution match (1–3%) is a priority. Schwab for investors who want the broadest investment selection and account type range alongside free tools.
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