What to look out for:
While it doesn’t offer every popular type of investment, it covers stocks and ETFs in a way that’s great for newer investors or even experienced investors looking to improve their investment strategy.
Best for no commissions: Robinhood
Robinhood
4.16/5
Account Minimum
$0 ($1 for fractional shares; $2,000 for margin trading through Robinhood Gold)
Fees
0% ($5/month for Robinhood Gold)
Investment Types
Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs
Why Robinhood made our li
Robinhood is a pioneer in the no-commission brokerage model. It remains a solid choice for beginners, as they can invest in stocks, ETFs, options, and cryptocurrencies with zero commissions. Typical stock and ETF investors will be able to use Robinhood with no costs at all, though premium accounts are available with more features for a monthly fee starting at $5.
Plus, Robinhood offers commission-free cryptocurrency trading for several digital assets. Among these are bitcoin, Ethereum, dogecoin, litecoin, and more
What to look out for:
Robinhood has a history of controversies over downtime and how some users have been able to enter extremely risky trades that they didn’t understand. As with any investment app, it’s important for Robinhood traders to understand the risks of what they’re doing so they can invest in line with their goals and avoid unexpected losses.
Best for kids: stockpile
Stockpile
3.79/5
Account Minimum
$0
Fees
$0/trade
Investment Types
Stocks, ETFs, and cryptocurrencies
On Stockpile’s website
Why Stockpile made our list:
Stockpile also offers commission-free stock and ETF trades, and it provides some unique features that complement its $o commission fee structure. The platform also recently launched crypto investing. Plus, Stockpile allows fractional share investing and supports the gift of stock through gift cards, which makes it perfect for the youngest investors.
If you are a parent, grandparent, aunt, uncle, or another relative who wants to help a child in your life learn how the stock market works, Stockpile is perfect for your needs. It makes it easy to gift stock and keep tabs on the account of a minor. It also makes it fun to navigate through supported stocks while educating users through “mini-lessons” that teach how to invest.
What to look out for:
Stockpile only offers stocks, ETFs, and crypto, so you’ll need to consider