These 6 Legitimate Companies Will Give You Free Stocks

People raise their hands for free stock.
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We’re all about freebies around here. Free gift cards? Heck yeah! Free money? Sign us up! Free stocks? Even better — they could increase in value over time!

And before you ask: Yes, there is a such thing as free stocks. We know, we know. It sounds too good to be true, but you just have to know where to look — and that’s where we can help you.

Collect Free Stocks From These 6 Companies

We researched the best, most legitimate investment companies, apps and trading platforms that offer something for free.

Without further delay, here are our favorite companies giving away free stocks:

1. iConsumer: $85

Free stock value: 500 shares of iConsumer stock (trading at 17 cents per share, as of October 17, 2019, that’s about $85 worth of stock)

The other companies on this list give you free shares of stock when you open an online brokerage account, but iConsumer is different. It’s a cash-back site that lets you earn shares of iConsumer stock. Think of it like a rewards platform like Ebates or Ibotta — with the added bonus of free stocks.

Shop at more than 2,000 retailers through the portal to earn cash back and shares of iConsumer stock. You can sell stocks at any time.

How to claim your free stock: Create a new account with iConsumer and start earning cash — and stocks — back on your online purchases. When you spend your first $25 through the platform, you’ll get a bonus of 500 iConsumer stock shares.

Available via desktop (browser extension), Apple iOS and Google Android.

2. Nvstr: up to $1,000

Free stock value: At least $10 and up to $1,000

This trading platform technically rewards you in free money instead of stocks, but you can easily invest your prize. But more on Nvstr before we get to the technicalities.

Nvstr is an online brokerage firm that allows you to build a stock portfolio to fit your needs. Or, if you need some help, you can tap into Nvstr’s machine learning–powered optimization to do it all automatically.

Nvstr does have fees, and they’re a bit higher than other options on this list. You’ll pay a $4.50 commission per trade, though that’s lower than the fees you’ll find at Fidelity, Charles Schwab, E-Trade and TD Ameritrade.

How to claim your free stock: To potentially win up to $1,000 in cash, sign up for an Nvstr account, and you’ll be randomly selected to win $10, $12, $15, $20, $25, $500 or $1,000. The catch: If you win, you can’t withdraw the cash for at least a year, and you must make a trade within that year.

3. Stockpile: $5

Free stock value: $5

Stockpile lets you to buy fractional shares of stock and ETFs. It stands out from the other options on this list because you can also gift stocks to family and friends (the perfect graduation present).

Start with a $5 investment. Once you’re in, there are no monthly fees and no account minimums. However, you’ll be charged 99 cents per trade.

How to claim your free stock: Sign up for a Stockpile account with this referral link, and buy your first stock or e-gift of at least $10 in stock. 

Available via desktop, Apple iOS and Google Android.

4. Robinhood: up to $500

Free stock value: $2.50 to $500

If you’re interested in buying and trading stocks, you’ve likely heard of Robinhood; it’s a fan-favorite trading app known for its commission-free trading. Yup — it’s free to buy and trade stocks, options, exchange-traded funds (ETFs) and cryptocurrencies. Plus, there are no account minimums and no maintenance fees.

How to claim your free stock: Sign up using this unique referral link. Once you create your account, Robinhood will give you a free share of stock. The share is chosen randomly (hence why it could be worth anywhere from $2.50 to $500) and can fluctuate with the stock market.

Available via desktop, Apple iOS and Google Android.

5. Acorns: $5

Free stock value: $5

If you’re just entering the world of stock trading, we get it: It can be quite intimidating. Start out slow(er) by investing in ETFs, which are basically fractions of stock.

With the Acorns micro-investing app, for example, you can connect your debit or credit card and choose to round-up your transactions to the nearest dollar. Then, Acorns automatically takes your digital spare change and funnels it into ETFs.

No, you probably won’t get rich investing in ETFs, but it’s a great place to start. Note that Acorns charges a $1 monthly fee for balances under $1 million. However, there are no minimums and no free trades.

How to claim your free stock: When you sign up for Acorns through The Penny Hoarder, you’ll get a $5 bonus. Use that $5 to begin dabbling in ETFs.

Available via Apple iOS and Google Android.

6. M1 Finance

Free stock value: $10

Do you know what the “1” in M1 stands for? One account. The goal of M1 is to simplify your finances, so you can invest, borrow and spend money all from one spot.

Now, let’s focus on the investing part. M1 allows you to build a custom portfolio of stocks and funds. Or, if you’re not feeling as adventurous, you can opt for a pre-built expert portfolio. It also lets you invest in fractional shares of companies (if you don’t want to fork over nearly $2,000 for Amazon stock) and will let you opt into automated investing, which lets M1 take over with free stock trading.

Basically, M1 gives you a ton of options, and they’re all free. You’ll need to deposit at least $100 to get started.

How to claim your free stock: To get this free $10 to put toward stock, you’ll need a friend. Once you’ve funded your account, click “Refer and Earn” to find a unique referral link to send to your friends. Once they’ve funded their accounts, you’ll get $10.

Available via desktop, Apple iOS and Google Android.

Carson Kohler ([email protected]) is a personal finance writer at The Penny Hoarder. She casually dabbles in ETFs.