How to Get Free Stock from These 8 Brokerage Companies

For decades, companies have been giving away free stuff to get you to try their service.

Brokers, like E*Trade, would offer hundreds of free trades within a fixed window whenever you signed up. Their latest advertised offer seems to be 60 days of commission-free trades. It’s a nice offer, but what if I don’t want to trade like a madman? What if I just want to try them out and perhaps get a few free shares of stock?

That’s where the new crop of brokers comes in. Much like how online banks broke traditional banks, with high-interest rates and no fees, a new crop of brokers seeks to upend the traditional model.

Their first step? Free stock.

Here are some brokers who offer free shares of stock when you sign up:

Every company on this list is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). SIPC is the FDIC equivalent of deposit insurance with limits up to $500,000 ($250,000 for cash). Never use a broker that is not covered.

Table of Contents
  1. Webull
  2. Moomoo
  3. Robinhood
  4. SoFi Invest
  5. Public
  6. Tornado
  7. Firstrade

Webull

Webull Logo

Webull is a commission free broker and is accessible by app only. The app itself, which I’ve had for a couple months, is more technical but the shares of stock they gift are just as real.

When you open and fund an account with $5, you get 2 free stocks worth up to $2,300 when you deposit just $0.01. The company will have a market cap of at least $2.5 billion and be traded on the NASDAQ or NYSE. That’s it!

The stocks they give will most likely be a small share but from time to time you’ll get something wild and crazy. For example, I received many shares of ABEV before randomly one day getting a share of AAPL.

Webull Free Shares of ABEV, AAPL

Webull Financial LLC is based out of New York City with CRD# 289063 and SEC# 69978.

Summary of the deal: Open and fund an account to get a free share of stock valued up to $1,600. There are no other requirements, no minimum deposit amount, and trades are free. One of the best alternatives to Robinhood.

Get your free share of stock from Webull
(or learn more about the Webull free stock offer)

Moomoo

Moomoo is a funny name but it’s the brokerage arm of Futu Inc., an SEC and FINRA regulated brokerage with headquarters in Palo Alto, CA and a registered business since 2015. You can look up their FINRA’s BrokerCheck records (CRD#: 283078/SEC#: 8-69739).

Moomoo has a free stock offer that should excite you (offer expires December 31st, 2021 ):

  • Open a brokerage account and get 1 free stock, worth up to $350.
  • Fund your account with minimum $1 and get 1 free stock, worth up to $3500
  • Fund your account to $2000 and get 3 free stocks (each stock worth up to $3500)

You get a free share of stock no matter what, more if you make a deposit into your account. There are no trading requirements.

Get free stock from Moomoo

Robinhood

Robinhood Free Stock Offer
What Robinhood sent me about their free stock promotion!

Robinhood is the most well-known startup on this list. They were founded in 2013 by two veterans from the high-frequency stock trading world.

Robinhood is a broker that lets you buy and sell shares of stock and exchange-traded funds (ETFs) without paying a commission. Whereas other brokers charge you a fee, like Ally Invest charging $4.95 per trade, Robinhood does it for free. They do not charge a maintenance fee either.

They were the first to aggressively market themselves by giving away free stock and you can still get yours if you act quickly. Robinhood Financial LLC is based out of California with CRD# 165998 and SEC# 69188.

Summary of the deal: You get a free share of stock valued between $5 and $150, with the average being around $10. There are no other requirements, no minimum deposit amount, and trades are free.

Get your free share of stock from Robinhood

SoFi Invest

SoFi Invest is the brokerage arm of SoFi and I’ve been a fan of them because they offer free trades, you can invest in crypto (if you are into that), and they often run promotions where you can get rewarded for using their app.

When you sign up for a new account, you could get a random dollar amount of stock ranging from $5 and $1,000. All you have to do is open an account (free, no funding requirement) and play the game to get your free money.

The simplest promotion you’ll ever see. 🙂

Get $5-1,000 of free stock from SoFi Invest

Public

Public is one of the few zero commission brokerages that lets you buy stock with any amount of money. Yes, that means you can buy partial shares with as little as $5 invested with real-time settlement (not batched, like what they used to do back in the day). They’ve also integrated a social component where you can see what other people have invested in (when they make it public) and you can see what their strategies are. If you wish, you can also follow investment strategies like investing in Tech Giants (most influential tech companies), American Made (US Manufacturing), The Future is Female (S&P 500 companies with female CEOs), and many others. You can buy ETFs too.

They are SIPC insured up to $500,000 and they even pay interest on your uninvested cash (2.53% APY on up to $10,000 as of 1/30/2020)

When you sign up with our link (on your desktop), you can get $10 of stock from one of the following 9 companies – Alphabet (Google), J&J, Facebook, Apple, Visa, Chase, Microsoft, Amazon, or Alibaba. Once you click through, enter your phone number and they’ll send you a text message with the instructions.

(read our full review of Public)

Get $10 of free stock from Public

Tornado

Tornado gives . There are a few conditions with this offer, such as you cannot withdraw the funds for 1 year and you must place a trade within 1 year.

Unlike Webull and Robinhood, Tornado is not a commission-free trading app. They charge $4.50 per trade, which is lower than most brokers and on par with Ally Invest. There is a simulated portfolio feature so you can use their collaboration and optimization tools without putting real money on the line.

It was founded in 2015 by Bernard George and Patrick Aber. George has a hedge fund and engineering background with a Physics degree from Harvard. Aber was designing investment strategies at Tower Research Capital and The Carlyle Group after studying Applied Math and Economics at Harvard. If you’re not familiar with them, read our Tornado review to learn more.

Tornado, also known as Nvstr Financial LLC, is based out of New York City with CRD# 269966 and SEC# 69642.

Summary of the deal: You actually get free cash between $20 and $500. There is no minimum deposit and you must hold the amount in your account for a year and make one trade within a year to keep the bonus. Trades are $4.50 each and there are no monthly fees, no membership fees, no account opening or closing fee, and no fund transfer fees.

Get $20 to $500 from Tornado

Firstrade

Firstrade will give you three free stocks when you open an account and deposit or transfer $100 or more within the first 30 days. The free stock is tiered:

  • Get 1 free stock when you open an account
  • Get 2 additional free stocks after you deposit or transfer $100 or more within 30 days

This is on top of $200 in transfer fee rebates if you transfer your account from another brokerage and is a commission fee free brokerage.

Learn more about Firstrade

How are free stocks from brokerages taxed?

You will get a Form 1099 for the value of the stock that you receive from any of these brokers. You’ll be responsible for including that on your tax return for next year and it’ll likely be taxed like bank interest. The moment you get the shares, the value is recorded and the broker will record that as miscellaneous income.
When you sell the shares, you’ll owe capital gains tax if you sold for a capital gain. You can deduct capital losses if you sell for a loss. The cost basis is the value of the share when you received it.

For example, you get a share of Wallet Hacks LLC valued at $100. The broker will issue you a Form 1099 at the end of the year for $100. If you sell the stock for $110 sometime during the year, you’ll owe taxes on $10 of capital gain. You’ll be taxed at ordinary income tax rates on the $100 and then capital gains tax rates on the extra $10.

If you sell the stock for $90 and take a loss of $10, then you’ll still owe ordinary income tax rates on the $100 but you can deduct $10 of capital loss from any capital gains you have. If you don’t, you can take that $10 off your ordinary income (up to the limit).

So, don’t forget to set aside cash for taxes!

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About Jim Wang

Jim Wang is a thirty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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  1. DNN says

    Either way you look at it, eventhough it is free money (somewhat), Uncle Sam makes sure that he crashes your “money party,” by ensuring he gets his cut of the $ gUaP $. Sad truth, but true.

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