Compare the best free trading apps in 2022

A large number of trading apps now offer a free service where you can buy and sell financial assets without charge. This page picks out the best free trading apps and compares them.
By: James Knight
James Knight
James has spent more than 10 years as a writer, researching and covering a range of topics, from business… read more.
Updated: Jun 7, 2022

Apps that let you trade for free can save you a huge amount of money over time. Day traders and swing traders in particular should use free apps as much as possible. Use this guide to compare the best trading apps that let you trade for free. 

What are the best free trading apps?

Our experts have ranked the best apps according to the service they offer. Use the table below to choose one now, or keep reading to learn more about each app and how they were chosen.

1
Min. Deposit
$10
Promotion
User Score
10
Trade/invest in stocks with just $10
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Pros:
Trade/invest in stocks with just $10
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Investoo Ltd is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Investoo Ltd to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
2
Min. Deposit
$0
Promotion
User Score
9.3
$0 commission and $0 Options contract fees
Upgraded research with advanced charts
Smart Menus for faster trades
Start Trading
Pros:
$0 commission and $0 Options contract fees
Upgraded research with advanced charts
Smart Menus for faster trades
Payment Methods
Full regulations list:
3
Min. Deposit
$500
Promotion
User Score
8.7
We offer one of the best execution speeds in the industry with low latency
Award-winning support in 14 languages
Trade with precision from 0.5 pips on EURUSD
Start Trading
Pros:
We offer one of the best execution speeds in the industry with low latency
Award-winning support in 14 languages
Trade with precision from 0.5 pips on EURUSD
Payment Methods
Bank Transfer, Bank Wire, Credit Card, Debit Card, PayPal, Sofort, neteller, skrill
Full regulations list:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top free trading apps

1. eToro: Best free trading app

eToro is a free trading pioneer where you can buy and sell financial assets on your mobile device at no cost. The app is free, and trading on the app is free. You will have to pay a charge when you withdraw money but otherwise, it’s an extremely low-cost way to trade.

eToro is available on the Play Store and the App Store and it’s a great way to trade any financial assets. Crypto, stock, forex, commodity, and ETF trading is available and you can trade all of them risk-free if you use a virtual demo account.

Download the eToro app and sign up to get started. You have to provide some ID to verify the account but otherwise it’s easy to set things up. Just note that some features, like crypto trading, are restricted in some parts of the world.

Sign up with eToro >

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money 

Pros

  • Free demo account
  • Free app download
  • Zero fee trading
  • CopyTrader features

Cons

2. AvaTrade: Best free trading app for beginners

AvaTrade is a beginner-friendly trading service that lets you trade from your phone through its AvaTradeGO app. It provides a lot of helpful information for when you’re just starting out, including video tutorials, blog posts, and a strategies ebook.

Although it originally specialised in forex, AvaTrade now offers all the most popular financial assets, from currency pairs to Bitcoin, commodities, and indices. All are available to trade for free, and there are expert advisors and a copy trading platform to help you learn from the best.

The AvaTradeGO app can be downloaded on both Google and Android and is completely free to use. You can also trade for free through popular software like MetaTrader 4 and 5, which provide lots of advice and protection to help beginners trade safely.

Sign up with AvaTrade >

Pros

  • Huge volume of learning material
  • Zero fee trading
  • Lots of different trading platforms available
  • Regulated across the world

Cons

3. Skilling: Best for free CFD trading

Skilling is a CFD trading app where you can access more than 900 different financial assets. There is no fee to trade on Skilling and because it offers CFDs, you can buy or sell assets to take advantage of both rising and falling market conditions.

Like many trading apps, Skilling offers a free demo account so that you can test the water without putting any real money on the line. It also offers different trading accounts according to your level of experience and how much you expect to trade.

Beginners can use the standard, zero commission trading account, but there are more advanced options for professional traders too. A premium account offers better spreads, and there’s an option to use it in association with the popular trading software, MT4.

Sign up with Skilling >

Pros

  • Free trading and zero commission account for beginners
  • CFD trading so you can trade at all hours
  • Can trade with MT4 software

Cons

4. Capital.com: Best for analysis tools and charts

Capital.com offers an award-winning trading app that’s jam-packed with tools and charts. It uses artificial intelligence to offer feedback on your trades but retains a simple and easy to use interface that works for beginners.

The AI analysis tool is the most noteworthy feature on the app as it helps you understand your biases and where you make mistakes. A wide range of tech indicators, analytics tools and charts are available to help you improve your trading, too.

All of the best web features are available on its app, including things like negative balance protection, which means you can never fall into the red. Just beware that it means trades might be closed automatically, which reduces the amount of control you have over your money.

Sign up with Capital.com >

Pros

  • Zero fee trading
  • Get feedback on your trading behaviour
  • Award-winning app

Cons

5. Plus500: Best for range of assets available

Plus500 offers thousands of different financial assets and you can trade them all from its mobile app. It’s range of assets extends around the globe, so you can almost always find what you’re looking for.

There are many different ways to trade with Plus500. Leverage up to 1:30 is available and there are lots of analysis tools to help you make the right decisions. What’s more, you can trade cryptocurrency CFDs as well as traditional financial assets.

While there is a free demo account, the rest of its offering isn’t very well suited to beginners. There’s far less educational material available on Plus500 compared to the competition, and it’s not easy to find support to help with your trading.

Sign up with Plus500 >

Pros

  • Zero fee trading and commissions
  • Good risk management tools
  • Lots of assets available, including crypto
  • Trade with up to 1:30 leverage

Cons

What is a free trading app?

It’s a mobile app where you can buy and sell financial assets without charge. The app is just a means of interacting with the service from your mobile phone and it usually offers much the same features as you would find by accessing the platform’s website through your desktop browser.

How do free trading apps work?

By letting you buy and sell financial assets from a mobile device. The app is your means of interacting with the market and it executes any trade that you place. It stores and displays all of the information about assets you’ve bought and sold so that you can monitor performance from your phone as well.

Apps are able to offer free trading by making money in other ways. The fees can be ‘hidden’ as commission on the spread (the difference between the buy and sell price of an asset) or you might be charged for deposits or withdrawals. Alternatively, some apps make money from third parties based on how many orders are placed on the service.

How should I choose a free trading app?

The most important thing when choosing any financial service is trust. Pick an app you trust to give you the best trading experience and to keep your money safe. Consider all of the factors below to help you choose a free trading app now.

  • Fee structure. Even apps that offer free trading have to make money somehow. Look at the fee structure to find out what you might be charged for. The most common charges are for deposits, withdrawals, and overnight fees for keeping CFD positions open for more than a day.
  • Supported assets. Trading apps have different areas of focus and expertise. If you want to trade stocks then look for a wide range of supported indices around the world. If you want to trade crypto or forex, then find out which trading pairs are available on the app before you sign up.
  • Charting and analysis tools. Successful traders use technical analysis to decide how and when to trade. Look for a platform that makes it easy to do your own analysis through the app and ideally one that helps you craft your own individual trading strategy. 
  • Educational material. Tutorials and guidance are particularly important for beginners. An app that includes an education section can be useful, so look out for video tutorials and trading advice. Some apps even offer feedback on the trades you make to help you improve.
  • Software integrations. Many apps integrate with popular trading software, such as MT4 or MT5, or offer their own in-house alternative. If there is a particular piece of software you like to use, consider which apps work with it when you sign up.

Should I use a free trading app?

A free trading app is the best option if you plan to trade on the go. Apps are convenient to use from anywhere, and any service that lets you trade for free should be considered. Just remember that price isn’t everything and you should think about the service on offer from an app before you sign up.

Think about which assets you want to trade and which apps meet this need the best. There are such a wide range of apps that offer free trading and it pays to take the time to choose the best option before you start.

What are the risks of using free trading apps?

There are risks to any form of trading. Even when the cost of trading is free, there is still money on the line and you are at risk of losing it. Any financial asset can fall in price and free trading apps often offer CFD trading, which offers far less investor protection than you get when you actually own company stocks.

There are other risks too, as the app you use can experience technical glitches or restrict trading without warning to prevent you from closing out positions. Some apps have done this before, most notably during the ‘meme stock mania’ that surrounded GameStop in 2021. For more risks, as well as the benefits of using this type of app, see the list below.

Benefits

  • There are lots of different ways to trade so you can craft a unique strategy
  • Apps are ideal for trading on the go and reacting to new developments 24/7
  • Most apps are regulated and offer financial protection to anyone with money stored on them
  • Apps offer lots of different financial assets, from stocks to cryptocurrencies
  • Mobile apps offer much the same service as desktop websites

Risks

What are the fees for using a free trading app?

There are normally no fees for using a free trading app. The apps are free to download and by definition trading is free as well. Where you may be charged is on deposits or withdrawals. eToro, for example, charges a $5 flat fee on withdrawals plus conversion fees if you withdraw to a non-USD currency.

Methodology: How did we choose the best free trading apps?

Our list of apps is based on extensive research and testing of all of the services involved. Testing means we have signed up, created an account, deposited and withdrawn money, and placed at least one trade.

In addition to the testing process we have researched all of the apps online and used customer reviews. Together, those criteria combined to produce a series of ranking factors which have been used to produce a final list of apps.

None of the services listed on this page have influenced the order in any way. We may make an affiliate commission if you sign up and trade on an app using one of the links above. Learn more about how we make money by reading our reviews process.

FAQs

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Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is the lead content editor for Invezz, covering the stock market, cryptocurrency, and macroeconomic markets. Outside of work, James is an avid trader and golfer… read more.