Free Stocks: What to Know & How to Get Them

By Josh @ Money Life Wax


Published on

Updated on

Have you ever had a friend send you a random text with a unique referral link to some investment platform promising you a free stock?

As if your life wasn’t full of enough distractions already, now you find yourself wondering whether or not you should jump on the opportunity of earning a free stock or if you should simply just ignore their text. 

Here is the truth: Investing might seem overwhelming at first, but there is no better way to achieve and build wealth. Anyone can invest, including beginners. You can be a novice and not have to be an investment guru to do so, either. 

With so many investing platforms and apps competing for your attention, many of them offer free stock or even cash for buying stock simply for signing up! Today, we will explore which investing platforms provide the best sign-up bonuses, and we will teach you how to capitalize on them! 

Quick List of Free Stocks

App or BrokerYour BonusRequirementsFees
WebullTwo free stocks!Deposit $100None
Acorns$5 to $10 Sign up and make your first depositSubscriptions starting at $1 per month
RobinhoodOne free stockSimply create an accountNone
DoughOne free stockCreate an accountNone
Coinbase$5 in BTCNo deposit, just create an accountNone
SoFi InvestChance to win $1,000 to buy stocksAs little as $1None
Stash$5 in free stockDeposit $5Subscriptions starting at $1 per month
Public$10 in free stockSimply create an accountNone
MyConstant$7 in interest paid back$50 direct deposit with a new account
UnifimoneyGet $25 to $1,000 in BitcoinDeposit $1,000 for reward, $1000 minimumNone
M1 Finance$30 to investDeposit $100None
Groundfloor$20 free stock valueDeposit $10None
FirstradeTwo free stocksDeposit $100 None
DiversyFund$50 Amazon gift cardCreate a new accountNone
E-tradeFree stock with the transfer amount$25 to $1,000 bonus with a transfer of at least $5,000 and upNone

How to Get Free Stocks (Step by Step):

Let’s first start with the basics when it comes to procuring your free stocks. Most of the offers for free stocks come as a sign-up bonus. Other criteria to earn a free stock might include:

  • Signing up
  • Making an initial deposit of $10, $100, or $1,000
  • Waiting a certain length of time to get your free stock (usually within 30 days)
  • Transferring from an existing platform to a new stock trading platform

Terms and requirements are often subject to change, but the reason for many free stock and cash offers is simply due to demand. For an extended period, investing in stocks was traditionally reserved for only those with means. 

The inception of discount brokerage firms allows the average person to start investing available via online (i.e., Google Android app, Desktop, Apple iOS). As a result, all investing platforms and investing apps had to compete for the influx of new investors. 

These discount brokerages allowed for new investors to capitalize on incentives such as free stocks, cash to invest, and even free gift cards for simply joining! Below we expand on our list of the top 15 platforms for free stocks!

The 15 Best Platforms for Free Stocks

1. Webull (Get 2 Free Stocks)

Webull is quickly emerging as one of the best online trading platforms, and it has very little to do with the two free stocks offer, even though that is a plus! 

One of the newest on the list – but quickly becoming one of the best trading spots – Webull is a trading platform that also offers free stock trade and is one of the companies giving away free stock after creating an account and completing a qualifying $100 initial deposit. 

Here is a screenshot of the two free stocks my friend got this month:

WeBull My free stock

Ultimately, it is up to Webull which two stocks you get, and they are selected at random. However, you could be the person who ends up with a free stock worth $1,850 simply for starting your investing journey with them! 

Webull2 free stocks!Deposit $100No fees!

2. Acorns

We placed Acorns second on our list for the best free stock offers for many reasons, including popularity, ease of use, and available options. 

For starters, new account holders can earn $5 to $10 back to buy stocks, but the platform is unique in that it started as a spare change investing app. Spare change apps refer to the round-ups performed on your everyday purchasing. So, for example, if you spend $4.55 at the store, Acorns would round this purchase to $5.00. Then, it places the $.55 in a holding account until it reaches a $5 threshold, which is then used to invest on your behalf. 

Whether you choose to deposit additional money to be invested aside from the round-ups is entirely your choice. Still, the platform also allows you to bank and open up retirement accounts! In addition, you can select your level of aggressiveness with their platform and find a complete list of where their robo advisor invests your money. 

Acorns uses a subscription-based pricing structure, starting with a $1 monthly fee ranging from $1 to $9. 

Acorns$5 to $10 Sign up and make your first depositSubscriptions starting at $1 per month

3. Robinhood

Robinhood has been in the news for all the wrong reasons after the GameStop debacle in the stock market, but they are the pioneers of the free stock game, so they’re worth a spot on the list. 

Known for its free stock trading platform, Robinhood is popular with younger investors because it allows users to trade options and cryptocurrencies on top of being a cash management account.

One of the first free stock companies to offer free stocks, Robinhood offers free stocks valued up to a possible $250 for simply creating an account. No minimum deposits, no transaction fee, no strings attached. 

After creating your account, you have 60 days to claim your free stock, and once claimed, you could sell it for cash. However, that cash value must stay in your account for 30 days before you can cash out! 

Robinhood1 free stockSimply create an accountNone

4. Dough

Ok, what is Dough?

Dough is an investment app you can download on your phone and get one free stock for doing so! 

The app is pretty straightforward. As a newer investing app geared at younger investors, you can download the app from your app store, create an account, and collect one free share. The value of this stock is typically not very high, but getting a free stock is still a free stock. 

Dough1 free stockCreate an accountNone

5. Coinbase

Coinbase is one of the largest investing platforms with over 50 million users. Yes, you read that right, 50 million users, and that company just launched in 2012. While quickly emerging as the go-to spot to purchase cryptocurrencies, unlike most of the already mentioned stock trading apps, the Coinbase trading app lets you receive a $5 bonus in Bitcoin for simply signing up. 

  • No deposit required
  • No strings attached
  • No fees
Coinbase$5 in BTCNo deposit, just create an accountNone

6. SoFi Invest

You might be familiar with SoFi from the days of student loan financing, but the financial company has quickly become a leader in investing too. With SoFi invest, you can trade stocks, IPOs, Exchange-Traded Funds (ETFs), and even crypto. 

With a significant push to enter the investing world, SoFi is growing fast, making it a great platform to consider. Of course, it doesn’t hurt that you may receive $1,000 too (.028%). For investing, do it yourself by choosing crypto, stocks, ETFs options, or let SoFi build a portfolio for you with free automated investing.

SoFi Invest1 free stock with deposit & Chance to win $1,000 to buy stocksAt least $100None

7. Stash

Stash happens to be more than just a catchy name, as the “do it all” finance and investing platform has grown from approximately 1 million users in 2017 to over 5 million by 2020.1 

Unlike some of the previously mentioned free stock companies, Stash is not free but instead offers subscriptions monthly starting as low as $1.2 One of Stash’s big selling points is all of the financial recommendations and literature it provides, in addition to being able to invest in stocks. 
They help teach new users how to diversify their portfolio, allow for custodial accounts3, banking4, the ability to set up IRA accounts5 and you can get $5 to invest when you sign up and add $5 or more to your Personal Portfolio.6 But the truth is the $5 bonus is just a cherry on top!

Stash$5 in free stockDeposit $5Subscriptions starting at $1 per month

8. Public

With an emphasis on Gen Z and Millennial investing, Public is another platform with commission free trades and offers you $10 in cash to buy stocks. So in a sense, you are getting $10 in free stocks when you simply sign up after downloading the Public app! 

Public$10 in free stockSimply create an accountNone

9. MyConstant

The $7 back is a nice touch, but the real reason you might want to consider using MyConstant. Constant is an alternative investing platform, unlike the free trading mentioned above platforms. 

You always hear the term to diversify your investments; well, one way to do that is with MyConstant, a peer-to-peer lending platform. In this case, you invest money for others to borrow, with a guarantee of a 7% return. 

How it works: 

  1. Sign up for a free MyConstant account.
  2. Constant will deposit your free $4000 bonus to earn 4% APY over 15 days.
  3. After 15 days, they reclaim the free bonus but you keep the interest.

The purpose of this is to show you the power of how the program works! If you’re interested in some alternatives to the typical free stocks, Constant might be your best bet!

MyConstant$7 in interest paid back$50 deposit with a new account

10. Unifimoney

Are you tired of just regular old investing? With Unifimoney, you can not only invest but do bank, buy metals, find insurance, get a credit card, and pretty much house all your banking in one place. 

The investing platform isn’t too shabby either, offering robo-advisor to self-directed investing strategies, really making it a one-stop shop for new investors or veterans. Unfortunately, the current promotion isn’t a free stock, but instead $25 in Bitcoin!

UnifimoneyGet $25 to $1,000 in BitcoinDeposit $1,000 for reward, $1000 minimumNone

11. M1 Finance

M1 is one of the leading robo advisors in the game, and unlike most robo advisors, they are free. They will offer you $30 to invest with a new account once you complete your account signup. 

The upside to investing with M1 Finance is in addition to their easy-to-understand pie charts. They are a robo advisor similar to acorns in that they will atomically invest your money for you based on your selected preferences. 

Put in simple terms – you don’t have to be an investing guru to use M1. They make money with lending and their M1 Plus program. They do that for you with their robo investing platform, in which they are incentivized to make sure your account does well.

M1 Finance$30 to investDeposit $100None

12. Groundfloor

Groundfloor is another alternative investment platform that will give you money for initial deposits. However, unlike most other free stock offers for signing up, you get $20 to invest. Groundfloor’s real estate crowdfunding is similar to Fundrise in that you’re able to invest in real estate, but without purchasing pricey commercial real estate. 

Sign up to collect your $20 bonus and for a limited time, transfer a certain amount of money into your account to earn additional sign-up bonuses! 

Groundfloor$20 to investDeposit $10None

13. Firstrade

Hopefully, you are not sick of all the free stocks you are most likely earning, but we got one more for you! You can receive free stock for depositing $100 and another free stock bonus for referring a friend with Firstrade. 

Firstrade picks the free stocks with the free stock valued at $3-$10. In addition, the low-cost broker gives you commission free stock trades. Check it out below to learn more!

Firstrade2 free stocksDeposit $100 None

14. Diversy

Don’t have the money to buy a multi-family dwelling unit? No problem, you can start your real estate investing career with DiversyFund, a crowdfunding platform that is currently offering $50 when you create an account. 

Similar to Groundfloor, real estate crowdfunding platforms pool together money (your investment) and loan it to real estate investors. As a reward for your investment, you get a percentage back on your money when they sell, which is a long-term investment option!

DiversyFund$50 Amazon gift cardCreate a new accountNone

15. E-trade

You most likely have heard of E-trade because you remember the commercials with the babies, but they also happen to be one of the original online trading platforms. And with the influx of countless other programs, the platform is still a place to buy and sell stocks. 

Competing with the likes of Webull and Robinhood free stock companies, E-trade has dropped its trading fees and also offered free stock when you transfer a certain amount of money to your new account. When your net deposit reaches a certain minimum, you will increase your cash credit. That said, to get a cash credit that will allow you to buy stocks, the minimums are higher than the rest on the list above.

  • $50, minimum deposit of $10,000–$19,999
  • $100, minimum deposit of $20,000–$24,999
  • $200, minimum deposit of$25,000–$99,999
  • $300, minimum deposit of$100,000–$199,999
  • $600, minimum deposit of$200,000–$499,999
  • $1,200, minimum deposit of $500,000–$999,999
  • $2,500, minimum deposit of$1,000,000–$1,499,999
  • $3,000, minimum deposit of$1,500,000+

If you have $10,000 or more, a free stock or even $50 might seem like a drop in the bucket. But if you are looking to move over to E-trade, simply do the following: 

  1. Open a new eligible E*TRADE brokerage account or retirement account.
  2. Enter promo code ‘BONUS21’ when opening the new account. Use promo code BONUS21 only once for one account.
EtradeFree stock with the transfer amount$25 to $1,000 bonus with a deposit reaches $5,000 and upNone

Frequently Asked Free Stock Questions

Are “Free Stocks” legit?

Yes, investing platforms and an investing app that offers free stocks are legit. However, each of these online options is a competitor to one another. Thus, these platforms can provide free stocks for signing up because they compete for traders on their platforms. In addition, to incentivize more investors, they reward those who open an account. 

What are the tax implications of free stocks?

When it comes to tax advice, as long as you don’t sell your free stock or collect dividends on it, you are not responsible for paying any taxes on your free stock rewards. That said, you will be issued a 1099 on anything more than $600 that you make in capital gains, but technically you are responsible for reporting.

Final Thoughts

Online investing hasn’t been any easier with virtual trading providing various investment choices, such as ETF trading, mutual funds, etc. Thus, regardless of your investment strategy, there are numerous ways to get free stocks with no or low flat rate, no trade commission fee, and automated trading.

Are you ready to invest online? Or, which of the online options are best for your investment portfolio? With any investment advice, be sure to use proper research tools to help give you the best investing options for your stock account.

Invest Media is a paid marketing affiliate of Stash.

This material is not intended as investment advice and is not meant to suggest that any securities are suitable investments for any particular investor. Investment advice is only provided to Stash customers. All investments are subject to risk and may lose value.

1 This is not an endorsement or a statement of satisfaction by any Stash client.

2 Stash offers three plans,with the Stash Monthly Wrap Fee starting at $1/ month. You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash and the Custodian. Please see the Advisory Agreement for details. Other fees apply to the bank account. Please see the Deposit Account Agreement.

3 Available with Stash+ ($9/month). For children, Stash offers access to UGMA/UTMA accounts.

4 Bank Account Services provided by Green Dot Bank, Member FDIC. 

5 Available with Stash Growth ($3/month) and Stash+ ($9/month). As a baseline, you must earn income in a given year to be eligible to contribute to an IRA. 

6 Offer subject to Terms and Conditions. To be eligible to participate in this Promotion and receive the bonus, you must complete the following steps: (i) click through the link above, (ii) successfully open a Stash Invest Account (otherwise known as your personal portfolio) in good standing, (iii) link a funding account (e.g. an external bank account) to your new Stash Invest Account, AND (iv) initiate and complete a deposit of at least five dollars ($5.00) into your Stash Invest Account. In the event you only complete the designated registration process to receive the Financial Counseling Service (as defined in your Advisory Agreement), as applicable to you, or do not otherwise complete the account opening process for an individual taxable brokerage account (“Personal Portfolio”), you will not be eligible to receive the Bonus.