You’ve heard all about how you need to invest in order to build wealth, but how do you do it?
When you are just getting started with investing, all of the information out there feels so overwhelming.
And what happens when you have hardly any money to invest?
Luckily, there are a lot of investing platforms that are available, and lots which also offer free stocks to get started with.
Sounds too good to be true? Make sure that you check the companies are legit, and be sure to read through this article to see the best ones.
Let’s get started looking at where you can get free stocks today!
Can You Buy Stocks For Free?
With a multitude of new brokerages and investment platforms entering the stock market, these new platforms are enticing new investors to invest with their brokerage by offering free stocks when signing up.
Obviously, every stock maintains its own individual volatile value, yet often these investment platforms will encourage traders to meet their specific criteria (which is often purchasing a stock or signing up) which will then land you with some selected stocks.
In this article, we will be looking at the best free stock apps and the best free trading platforms.
How Do Free Stocks Work?
As previously mentioned, in order to receive your free stocks you may have to meet set criteria.
Many brokerages only require you to make an account on their platform, whilst others ask for a minimum deposit on a specific stock.
However, for those of you looking to expand your investment portfolio – buying small percentages of different stocks or cheaply priced stocks, will allow you to meet the deposit criteria.
Often these free stocks are then selected by the company and immediately deposited into your portfolio so you can choose whether to hold, purchase more, or sell.
Apps & Sites That Give You Free Stocks For Signing Up
Your interest is piqued, but you may be asking: “Where can I find a platform that can offer me a free stock online?”
Do you want to know how to get free stocks on Robinhood? When you open an account with them and input your banking details, you will be offered a randomly generated stock from across their range.
These stocks could have any value from $3-$225 – however, there is a 98% chance these stocks will only go up to $10.
Whether you are looking to invest in growth, blue-chip, or dividend stocks Robinhood is our top recommended brokerage.
Looking for the Webull free stock hack? In order to receive free stocks from Webull, you can earn a free stock valued between $2.50 – $250.
However, if you’re looking for a little more back from your brokerage, you can open an account and invest a minimum of $100, to meet the criteria of being up to earning a stock valued between a modest $8 and a hearty $1600.
Firstrade operates things a little differently, in order to get free stocks you have to have a previously opened account with some stocks within your portfolio, then participate in their refer a friend program.
By sending a referral link and having your friend sign up and start investing, you will both receive a free stock, and better yet – you can do this repeatedly with all of your friends!
Public takes it back to the basics when it comes to investing, if you open an account and receive authorization and verification from the platform you can be up for the chance of earning a free stock valued up to $20!
Apps & Sites That Give You Bonus Cash For Signing Up
You heard it here folks, many investing platforms offer financial incentives for the traders by helping them select the most profitable investments based on their investment intentions and for those of us who aren’t too drawn in by volatile stocks.
Acorns is a low-risk investment platform that lets you put away your money with ease and watch it accrue over time.
By placing your savings in low-risk bonds or stocks, Acorns helps your money grow starting from $1 per month.
Stash allows its customers to invest in fractional shares by providing their account holders with a ‘Stock-Back’ card in which they can use to make payments and shop, whilst the account rounds up each transaction and you get to select where that money is reinvested.
Stash brings smart saving and real-life applications together.
M1 Finance is a platform that covers all the banking basics, but when it comes to investing M1 Finance allows account holders to select their risk level, how much they intend to invest, and the time scale of this investment.
M1 Finance then guides you through the customization process and helps you choose where best to put your money.
Similar to M1 Finance, E-Trade offers an array of financial products including a huge roster of choices for investment.
With categories ranging from Stocks to Futures, E-Trade will help you customize your investing experience and help you maximize your investment potential.
If you’re looking for a company that acts similarly to a savings account and lets you take control over where your money is invested – look no further.
Merrill Edge hosts a range of potential account options that can broaden your investment possibilities.
Other Ways To Get Free Stocks (“Offline” Methods)
For those of us that may feel more uneasy using an entirely digitized banking system, there is a range of offline methods that can help you get the stocks you need to propel your investment journey into action.
Work For A Start-Up Company That Offers Stock Options
Working for any startup company comes with its own risks, however, many startup financial firms offer the incentive of stocks and shares to their employees to allow them to reap an annual bonus based on how successful the company was that year.
Often companies that follow a cooperative structure will provide this, so if a startup is too risky of a career option for you, look for cooperative firms that could offer you the chance to earn back.
Start A Side Hustle & Use All Profits For Investing Only
Something that we love to do here at The Savvy Couple is side hustle, and use the extra money for a specific goal.
You can start a side hustle (which is a way of making extra money on the side), and put all of the profits into your investments.
The great thing about doing this is that you should make a great return on your investments and cause your wealth to grow.
Use Money From Your Cash Back Apps
We’ve spoken before about cash back apps – we love them! Cash back apps are a good way to get some passive income on the go.
Cash back apps work by giving you money back on the things that you are buying.
As it’s extra money that you otherwise wouldn’t have had, you can use it towards investing.
Open A Bank Account That Offers A Sign-On Bonus
Some bank accounts with banks that have embraced stocks and bonds as a part of their business model offer sign-on bonuses for those of us looking to open new savings or checking accounts.
These bonuses can help you earn some rewarding stocks!
Use Credit Card Rewards Cash
Some credit cards offer the incentive of ‘points’, shares, and cashback, this means that as you spend and successfully repay your debts you will be given the opportunity to earn back.
Bonus: Best Ways To Manage Your Investments (& Your Money)
When it comes to managing your investments and your money in general, there are a lot of different personal finance software options available to you.
Let’s take a look at some of the best:
Betterment is an online investing platform, where it will invest your money for you depending on what goals you have.
They will take a look at your goals (e.g. saving for a house, retirement etc) and divide them into 12 asset classes to get the best bang for your buck.
We love Personal Capital! It’s an online financial advisor and wealth management company that helps you to get an overview of your finances with the various tools that they offer.
You can link all of your financial accounts so that you can see them all in one place. We especially love the net worth tool.
Mint is a popular app where you can connect all of your accounts (like Personal Capital).
You can get a free credit score through Mint and create a custom budget – they will automatically categorize your transactions.
Free Stocks FAQ
How much does a stockbroker cost?
Most brokers have a set minimum fee which is often taken from any transactions made – the common value is 2.5%.
Should I even get free stocks if I have no investing experience?
Yes! It is never too late to start investing and free stocks are a fantastic way to broaden your portfolio and grasp those earnings.
Are free stocks worth it? Are they from good companies?
If your stocks are from reputable companies then the stocks are always worth it – no matter how big or small.
How do I get the money I earned on my free stocks?
Often after a specified amount of trading days, you can sell your stocks through a function within your trading platform.
Then up to a few working days after you can have the value deposited into your account.
What can I do if my free stocks don’t perform well?
Take it as a lesson, as these free stocks are investments made without your money and will often teach you about the fluctuations in market trends and help you identify the stocks that could provide profit.
What kind of fees are associated with free stocks?
Currently, in the states, there are no fees on free stocks after bigger companies lowered their commission to $0 to follow suit with traders such as Robinhood.
What about taxes for cash earned from free stocks?
When you are in possession of any stock there is always some form of taxation, where that is extortionate if its an early withdrawal, or lower following its maturity within your portfolio, it is likely that you will only pay 0.5% commission on your stock when you make a withdrawal.
Are free stocks the best way to earn passive income? How else can I earn passive income?
Free stocks aren’t the only way to earn passive income, but we do highly recommend having investments as one of your passive income streams.
There are different types of passive income streams that you can try such as real estate investing, starting a Youtube channel, selling an eBook or online course and many more.
Final Thoughts On Free Stocks
If I’m honest with you – investing is the modern key to additional income and potentially increased finances across the long-term.
With investing opening so many doors within the financial world and allowing the general public to access these fantastic markets, all it takes is a dive to be in for a chance of success.
Free stocks are acting as a gateway into the investment market and providing new traders with a diversified portfolio and allowing them to assess risk levels and market trends through stocks that haven’t burnt a hole in their pocket.
Yet free stocks could also hold the promise of appreciating and helping you earn a profit – what’s not to love!