In this article we’re gonna be covering the top three free investing apps that you might be interested in in 2019. Now I have done probably I would say 40 to 50 hours total of research on all these different investing platforms. I have countless videos on my YouTube channel reviewing these investing platforms. I have my Investing Simple blog where we go into more detail. So if you guys are looking for more information about any of these three or any other investing platforms, the playlist for those reviews is in the description below.I believe honesty is the best policy. I am affiliated with two of these recommendations. I will mention that as I go. So the links in the description below that I provide are affiliate links. You guys don’t have to use them if you don’t want to but understand that if you do use those links it certainly does help me out. It’s a way to give me a little bit of kickback here for the research that went into this video. So that is an option available to you if you guys wanna support me just by using a link.
Those are provided as a convenience if you guys are interested. But we’re gonna be covering three different free investing apps. They are for US-based investors only. I’m gonna go ahead and mention that now. I don’t wanna waste anyone’s time. But each of these three platforms are very different. They’re gonna be suitable for a different type of investor and I’m gonna do my best to help you guys understand where you should land and we’re actually gonna be opening up the app on my phone, that way I can show you guys what they look like and give you an idea of the platform and the user interface. That’s been something that’s been requested in a lot of my other review videos.
But starting off at number one is an M1 Finance, a very popular new brokerage. M1 Finance is basically if you could picture combining a robo advisor with your traditional brokerage which basically allows you to automate the entire investing process. You can automate your deposits, build your portfolio or your Pie as they call it, and automatically be contributing to this portfolio from your account if you wanna set it all up automatically. So that being said, M1 Finance, in my opinion is best for passive, long-term investors. If you’re a short-term trader who’s looking to buy and sell stocks, that’s gonna be the next platform that’s best for you and if you guys wanna skip ahead, I’ll include timestamps down below as well. But if you’re looking to be a passive, long-term, set-it-and-forget-it type investor but you also wanna be more active with your selection, M1 Finance in my opinion is a great choice here because of the features that they offer and I also believe it is a very suitable pick here for dividend investors because they have a form of a DRIP where your dividends are reinvested back into your whole portfolio.
One important thing to note here is that it’s not a traditional DRIP where that dividend is gonna go right back into that stock. It’s gonna go into your portfolio as a whole and be allocated according to what you set there. So if you have 50% Apple, 50% Google, and then you know Apple spits off that dividend, that dividend is gonna go back into your portfolio but half of that’s gonna go into Apple, half is gonna go into Google. It won’t go 100% into Apple so it’s a little bit different than your traditional dividend reinvestment plan. But that being said, here are the pros of M1 Finance. Number one, it’s free, all these are free. So we can write that one right off the bat here. You’re not paying anything in commissions to work with these companies. A lot of them offer above-and-beyond services like M1 Borrow or any kind of margin trading or investing. That’s how they’re making money. Second of all, fractional shares. M1 Finance is the only free platform I’ve come across that allows you to buy fractional shares of a stock.
So let’s say you wanna go out there and you wanna buy Amazon but you don’t have $1,000 or more to invest. You can buy as little as 1/10,000 of a share of Amazon stock on this platform, allowing you to buy Amazon even if you don’t have over $1,000 to invest. That is one of the strongest suits here of M1 Finance is that fractional shares feature. Other than that, you can automate the entire investing process through M1 Finance, automate contributions, automate the process of investing. So it’s great for passive, set-it-and-forget-it investors. M1 Finance will also automatically rebalance your portfolio as you contribute. So let’s say you have a 50/50 split of Apple and Google and Apple goes to the moon and all of a sudden you’re lookin’ at 60/40 where 60% of your money is in Apple, 40% is in Google. As you add more money it’s gonna go into Google so that way you get back to that 50/50 balance, which means that M1 Finance is automatically buying low on your behalf and as I’m sure you guys know, money is made through the stock market by buying low and selling high.
On that point, if you do withdraw money from your M1 finance account they’re gonna automatically sell what you are overweight in or whatever investment is high. So it’s automatically buying low and selling high on your behalf. The other pro for M1 finance is that they offer Expert Pies. I’m gonna show you guys what those look like when we open up the app. And these are Expert Pies created by professional investors. And this is one of the only free brokerages I’ve seen that offers this professional level of guidance completely for free where you can invest in these pre-built portfolios or if you want to you can build your own custom Pie or portfolios. The other pro is that M1 Finance is one of the only free platforms that offers retirement accounts and then also they have tax-efficient selling. So when you take money out of your account they’re going to sell in the most tax efficient manner possible hoping to reduce your tax bill at the end of the year.
Alright, so now let’s go ahead and open up M1 Finance and take a look at this app so you can decide whether or not it’s for you. Okay, so the first thing we notice about this app is that it is a very, very simple and easy to understand user interface. I just created an account. I didn’t go through anything else ’cause I wanted to show you guys what you’re gonna see on your end when you sign up and if you guys are ready to get started there is a link in the description below. It’s an affiliate link, you don’t have to use it but it certainly does help me out. So the first thing you’re gonna do is create your portfolio then you create your profile.
You have to give them your social security number for tax reasons and identity verification and then you’re going to fund your portfolio. So I wanna show you guys what this process looks like. So this walks you through it here. “Welcome to M1. “This is your portfolio, the simple tool you will use “to manage your investments.” As you can see, and what you can do here you can put your own individual stocks in these Pies, you can put an Expert Pie within a Pie. There is so much customization you can do here with M1 Finance. And you can also have multiple different Pies if you wanna have one for your growth investments, one for your income investments, one for retirement. There are multiple different Pies. There’s an unlimited number of Pies and you can put up to 100 different investments into each Pie. And as far as what investments are available, you can invest in any ETFs or stocks that trade on both the New York Stock Exchange and the NASDAQ that can go into your portfolio and the best part here is the amount of customization here.
So I’m gonna go ahead and create a Pie for you guys just to show you guys how this works. So first of all, we can see the most popular stocks or the stocks being sorted here by market capitalization. So let’s say I wanted to add Apple to my portfolio. I’ll hit that plus button and that’s gonna be, later on I can do the allocation.
So let’s say I wanna do Apple, I also wanna add JP Morgan, and let’s say I wanna add Walmart, and that’s gonna be my individual stocks within this Pie. Then I can go over here and look at Funds. This is where you can pick your ETFs. Let’s say you want to invest in the Vanguard ETFs. Here’s one of the most popular ones, VOO, the Vanguard S&P 500 Index Fund. You can add that right to your Pie if you want to. So this is where you’re gonna do your ETFs. On the left here, that’s where you’re gonna pick the stocks you want in your portfolio, and then over here are the Expert Pies. Again, a completely free very, very useful feature here. So first of all, let’s say you wanna look at general investing Pies and this tells you exactly what they are. These Pies are ideal for those who want a broad market exposure at low cost, want to choose a portfolio based on their risk tolerance, are looking to build a portfolio over time.
That would be for very passive, ETF investors. Plans for Retirement, you can do retirement investing with target date funds. Now I’m not gonna go through all of these. You guys can do this on your own through the app but you can see there are all kinds of different funds. One of my favorite ones here on the Expert Pies is the Hedge Fund Followers, you can actually follow big funds out there. So if you wanna replicate what Berkshire Hathaway is doing you can add that to your portfolio. If you like Carl Icahn, you can follow Icahn Capital.
There are all kinds of different ones. You can see Pershing Square as well, all kinds of different funds and hedge funds. You can replicate exactly what they’re doing completely free through M1 Finance. So I accidentally deleted my Pie by accident so let me go ahead and select my stocks one more time and then I’ll show you guys what that looks like. So let’s say we wanna do Apple, Amazon, Microsoft, and we also want to put some money into the Vanguard 500 fund, that’s gonna be my four selections for this Pie. Then I go ahead and click Done. So now this is where I decide how much of my money is gonna go into each stock? Well, just for this portfolios, and this is not a real portfolio, let’s say I wanna put 50% of my money into the Vanguard 500 Fund. I wanna then put 10% into Microsoft.
I then wanna put 10% into Apple but I also really think Amazon is gonna do exceptionally well so I’m gonna put 30% into Amazon. I have now created an M1 Finance Pie. Every dollar that goes into this portfolio; 30%’s gonna go to Amazon, 10% to Apple, 10% to Microsoft, 50% to the Vanguard 500 Fund. That is when you’re gonna hit Save, it’s gonna save that Pie for you. Next step is gonna be to create your profile. This is where M1 Finance is separate from other investment options out there because you can do an individual investing account, joint investing account, retirement account, trust account, all kinds of different options.
And this is the point where I’m gonna stop because I already have my own M1 Finance account but if you decide to do individual investing you’ll just click on that, fill out your information, and then eventually fund that account and whatever amount of money you’ve put in there it’s gonna be spread based on the portfolio you create. Okay, so the second free app that might interest you as an investor is a newer brokerage called Webull and this is a great platform, in my opinion, for the intermediate active trader.
So this is somebody who might be more active with their selection. They’re intermediate, they’re not a beginner. So they’re looking for a more research-oriented platform. In my opinion, Webull is the best platform for you and Webull also has a great promotion going on where if you open an account with them you do not even have to fund the account. Just by opening an account they’re gonna send you a free stock worth up to $1,000 but in order to get that you guys do have to use my affiliate link in the description below. So if you wanna get that free stock you gotta do it through my link or somebody else’s affiliate link. But if you are opening an account with Webull make sure you are taking advantage of this so you can get your free stock.
This is what I believe to be the strong points of Webull. First of all, it is one of the only free platforms that I’ve come across that have a lot of technical indicators. I believe they have 30 different technical indicators you can use to perform technical analysis of your investments. They also have a financial calendar I’m gonna show you guys in a little bit. They offer commission-free short selling. They are the only brokerage I’ve come across that offers this. They offer free extended hours trading if you wanna trade pre and post market and they’re also a research-oriented platform. Now that being said, this is a platform that might not be the best pick for beginners because it could be like putting your mouth up to a fire hose to get a drink.
It might be so overwhelming that it’s just too much for you and if that’s the case, platform number three is probably going to be the best pick for you. But if you’ve already been investing then this might be a good upgrade for you where you’re gonna get more research tools and you can grab a completely free stock as well. But let’s go ahead and open up the app and see what we think of this platform. Okay, so first of all, what you’re noticing here is there’s a lot of different things you can do with Webull. We have the watch lists.
You can click over here and you can get an update on what the markets are doing. You can see what are the biggest movers in the market, hot sectors, top ETFs, an idea of what the indexes are doing overall. You can get global market data up here as well. If you wanna see the United Kingdom, Germany, different indices, FOREX, Crypto. There is so much available to you here. Wow, Bitcoin is up huge. I didn’t even know that. I’ve been keeping an eye on it. But there is so much available to you here. Some people open up this app and they go, what am I looking at? I am so overwhelmed here. But if you know what you’re doing in the market already there is so much information available to you, Webull can really be a one-stop shop for you. So this is pretty much what they’re offering you here. They’re showing you the star stocks of this market, the biggest movers, market gainers, market losers, market actives, the most actively traded stocks here. We see GE, AMD, BAC, Apple all actively trading at this point in time.
What mutual funds are moving, what FOREX is moving. So much information available to you. Over here you can see your deposits if you have any deposits with Webull. This is the free stock that I got by opening my account. It was ABEV which I believe is American Beverage, or something like that. So I got a free stock worth five bucks at that point in time for pretty much doing nothing, just opening an account with them. Over here you can get different streams.
This is where you get news streams. So if you wanna follow different stocks you can get news updates on them, 24/7 news here. You can do certain markets if you wanna follow certain markets, you can get business news, technology, commodities. Anything you’re looking for, I’m telling you guys it’s somewhere here within this app. It is, Webull was originally actually just a research platform and then they merged into a full-blown brokerage. So picture a brilliant research platform combined with a brokerage account and then you get Webull, that is what we have here.
And then over here on the Explore, that is where you can look at a lot of different things here. They have screeners, they have the financial calendar which I’ll go ahead and open up. It’s telling you what companies are reporting earnings. You can also look at paper trading. They have this, this is one of my favorite parts here of this app is you can do paper trading with $1,000,000 of fake money if you want to practice investing without using any real money, which I think is a great idea.
You can do that right here within Webull with that paper trading feature. They also offer global market data if you wanna follow global markets. What I will say is if you’re looking for certain levels of quotation you have to pay for these on a subscription. So this right here is how Webull’s making money. Let’s say you wanted to get access to TSX, Toronto Stock Exchange here level one. You pay a month or per year. Most people don’t need this stuff but if you’re looking to buy it, that is how Webull is making money if you were curious about that.
You can look at US ETFs here. You can look at earnings to see which companies are beating earnings and having earning surprises. Okay, so we opened up the page here for General Electric. Up top we have the share price and as you can see we have a price chart here showing us how the stock is trading. Candlestick view is at the bottom and you can add technical indicators to this as well if you want to take a look at any of these indicators that you’re interested in. I’ll show you guys how to do that in a second. Over here on the right you get an update on the news here. GE stock falls, or fails to hold another lead. Heads for 20th decline in 23 sessions. Press releases here by General Electric. Over here we get analyst recommendations. This is the Institutional Analyst Rating. Strong Buy, Buy, Hold, Under-Perform, Sell, recommendation trends, analyst price targets, EPS estimates. You can get ideas of support and resistance areas with the stock. So much information available to you more than I can even cover in one review. Over here on Financials you can look at the income statements, the balance sheet, the cash flow statements, get charting of all of this different stuff.
So much data is available to you. Again, this is why some people look at this and they’re just completely overwhelmed. So if you’re a complete beginner, our next pick is going to be probably a better choice for you. And over here as far as the profile goes, overview of the company, officers and directors, and this is one of the best parts in my opinion too, insider trading activity. You can see insiders of the company, whether they are buying or selling shares.
We see here that Larry Culp picked up 225,000 shares recently, might be a good indicator there of a trend reversal. So you can get all kinds of data, whatever you’re looking for it’s available here for you within the Webull app and you can look at the trend here, what are people doing? Are most people increasing shares, decreasing shares, or holding onto shares. Just so much data available to you here with the Webull app. You can go here and you can add it to your watch list, you can have different watch lists, you can set price alerts through the app, you can add notes here if you wanna take notes on this company as far as what your thoughts and opinions are. So much you can do within the Webull app. Completely free and you get a free stock just for opening an account, so it’s a pretty awesome deal there in my opinion.
Okay, and then the third and final app we have here is one that most people are familiar with, most people are probably already using it, that is Robinhood. In my opinion, this is good for the beginner active trader, somebody who’s looking to actively trade stocks on maybe a daily or a weekly basis. Now if you’re day trading, I wouldn’t day trade with Robinhood, you’ll get in trouble with pattern day trader requirements. But if you’re trading maybe once or twice a week or something like that and you’re a beginner, Robinhood might be a good choice for you and this is where Robinhood is strong in my opinion. First of all, in certain states they offer cryptocurrencies for free, for free trading of cryptocurrencies. They also offer free options trading and that’s what separates them from their other two peers here. And then where they’re also strong is the fact that they have a very simple, easy-to-follow interface and it’s extremely beginner friendly.
So let’s go ahead and open the app here and Robinhood is not a company I’m affiliated with so I don’t have a link for them. You can just download that from the app store. Okay, so first of all what you’re seeing on my screen here is saying my account has been closed. I ended up transferring my Robinhood over to my other brokerage account. So you guys wouldn’t see that on your screen, you would see something else entirely. But this is the homepage of Robinhood. Down below here we get a watch list of the most popular stocks.
You can search them up here in the top right, get an idea of the top movers in the market. Popular collections here if you wanna look at the hundred most popular stocks, upcoming earnings, these stocks are reporting earnings soon. All kinds of different tags here and collections of stocks you can look at. Recent news here, get an idea of ya know different news articles here if you’re lookin’ to learn about different investments. They have a nice news feature. But really what we’re getting at here is that Robinhood is a very simple app. Over here on the left, this is where if you wanna do free stocks. You can invite friends, you’ll each get a free stock I believe. So that’s an option available to you as well. You can upgrade if you want to get Robinhood Gold, there’s some features that go along with that but when I used Robinhood I just used the basic plan and it was certainly enough for me. But let’s just go ahead and search up a stock just so I can show you guys what we have. We’ll do GE since we did that one before.
Take a look at General Electric and right now it’s showing me the candlestick price chart. If you wanna switch back, it’s just this button right here if you wanna switch between getting that candlestick view or just your regular price chart. But that is as far as the charting goes on Robinhood. It’s not very sophisticated. You can get a lot more technical data over on that Webull app and you can obviously look at different timeframes here to see how this company has been doing overall and the answer is pretty poorly overall, looking at this. General statistics about this company. News, analyst ratings as well. So you’re gonna see some similar stuff here to what’s available on Webull but it’s just a much simpler app here. You can see it’s definitely not for ya know, somebody who is intermediate or advanced, it’s gonna be a little too basic for you but if you’re a complete beginner, definitely a beginner-friendly app and so that is what Robinhood has to offer for you.
Okay, but anyways guys, that’s gonna wrap up this video. Those are, in my opinion, the top three free investing apps available in 2019. If you guys want to grab that free stock from Webull that is in the description below. I also have a link for M1 Finance if you guys are interested. Again, you don’t have to use ’em if you don’t want to, it just helps me out and helps support my channel and gives me some kickback for doing the research and creating these videos. But let me know if you guys have any questions, I’ll do my best to answer them down in the comments section below. But thank you so much for watching and I will see you in the next video. .