Trade Stocks Free And Earn Free Stocks

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If you’ve been thinking about getting into investing and want to open a new brokerage account, you may want to consider Dough.

Dough trading app is a relatively new player on the scene, but it provides a lot of value with the opportunity for commission-free stock trades, live support and when you refer friends you can even get free stock.

In this review, we will take a look at the Dough trading app to help you determine if it could be a good fit for you.

Dough App Review

Dough History

Dough was launched in the summer of 2019, with the aim of becoming the “#1 Commission-Free Investing App”, taking on companies like Robinhood, Webull, and others.

The company was founded by Tom Sosnoff, a financial industry veteran, entrepreneur, options trader, and co-founder of two other well-known names, Thinkorswim, and tastytrade. Dough’s daily operations are run by CEO Victor Jones, who also features prominently in a lot of their educational online content.

The platform is hoping to be attractive mainly to beginning investors and is offering things like commission-free trades on stocks and ETFs, no minimums, daily live video content and podcasts, live in-app support, and straightforward and transparent pricing.

Is Dough Legit?

Dough is certainly a legit company. It is a member of FINRA, (Financial Industry Regulatory Authority). This is the major securities regulator in the US. According to Dough’s profile, the parent company has been registered since 2009 and has an excellent history.

Dough also has a Securities and Exchange Commission registration. This is another serious industry regulator. Both these memberships confirm that Dough is properly regulated. If the company does engage in any unethical or unlawful behavior, the two watchdogs can intervene and take action.

In addition to government regulation, Dough also offers brokerage insurance through the SIPC. This provides up to $500,000 of protection for each customer. While this will not protect you against market losses, you can have confidence that should any shares go missing from your brokerage account; you’re covered.

Is A Good Choice for You?

Dough does not really cater to the sophisticated trader looking for futures bets or multi-leg option chains. So, if you’re an advanced trader looking for detailed macroeconomic reports or complicated technical analysis, it may not be a good match for you.

However, if you want to learn how the markets work, create good money habits and buy and sell some of your favorite companies, Dough could be a good option to check out.

Dough investing does provide some tools, charts, and other features that could benefit new traders or investors.

The Dough app is basic and user friendly, so you can view reports, charts, and data as you develop your experience within the world of technical analysis. 

Dough app home screen and account breakdown

Investment Vehicles

The Dough trading platform allows its customers to trade in ETFs, options, closed-end funds, and stocks on the major exchanges. This means that if you want to trade in precious metals, foreign securities, futures, forex, cryptocurrencies, mutual funds, or other investment vehicles, you will need to choose another platform. 

However, if you want to trade in penny stocks, this is possible if the particular stocks are on the major U.S exchanges. 

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The Requirements to Open a Dough Account

Dough makes it easy to apply for an account. There are just some basic requirements. 

  • Age 18+
  • Have a valid Social Security number
  • Be a US citizen, visa holder, or green card holder
  • Have a residential US address within the 50 states. (Or Puerto Rico). 

There are also no minimum requirements to open up your Dough account.  When we opened an account it only took a few minutes, and the account was approved in a couple of days. Open yours through our link below and earn a free stock (more about that below).

Tools and Features

The Dough platform is only accessible from your smartphone. There is a Dough app for Android and iPhone devices. To get started, you’ll need to provide some basic information, such as your name, address, income, Social Security number, and market experience. Account approval typically occurs within three business days. 

Once you have approval, you’ll be able to open up the app and add some funds. You’ll need to select some industries of interest. There are basics such as finance or newer sectors such as video games or payment processors. After you choose your favorites, the Dough app will tailor to your interests. 

A standout feature of the Dough app is the Idea Feed. This lists stocks and trending news in your selected industries. You can also click on the search box at the top right of the app to get a more detailed list of podcasts, training videos, sector rundowns and more. 

Also on the homepage you can add stocks to a favorites list. This makes it easier to access them from your main brokerage screen. You can sort the favorites and place them in any order that you’d like by just dragging and dropping.

Dough has an easy to navigate platform. So, even if you have little or no investing experience, you’ll likely find it pretty simple to place orders. The platform will also allow you to place limit orders or use market orders when you buy shares. 

Dough app stock detail page

Unlike many trading platforms, Dough keeps the charting simple. They show basic line charts indicating the five-year history of the stock. However, this may be a little lacking for the more experienced trader. You can also tap the target symbol to see price analysis, earnings report, and financial data. 

Customizing Your App Layout

Since there is no desktop interface for the Dough trading platform, you may want to customize the look of your app interface. While the potential for customization is limited, there are some options.

First, you have a couple of different options for background colors in the app. You can choose either a light theme or a dark theme, as you can see above in the screenshots on this page.

If you prefer, you can tell the app to automate the background color so that when the markets are in session, the background color is white, and when the markets close, it goes to a dark theme. Kind of a cool feature, and it’s what we use.

Dough Fees and Commission

No Dough review would be complete without discussing the fees and commission. In this case, you are likely to be very happy with the platform. Dough is part of the newer generation of brokerage platforms that have influenced the financial world and forced even legacy brokers to reduce or remove their sales commissions. 

Dough doesn’t charge a sales commission on any trade. This means that you could buy a stock today and sell the same item tomorrow without paying a dime in commission. Additionally, there are no minimum funding thresholds. However, the platform is not completely free. 

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Dough app fees and commissions

The list of fees includes:

  • Paper confirmations: $5
  • Paper statements: $10
  • Wire Transfers: $30
  • Returned payments: $30
  • Overnight check delivery $50
  • Outgoing transfers: $75

Additionally, you can only enjoy real-time streaming quotes on an unfunded account during your first 15 days. If you’re funding your account to get the free stock, however, that shouldn’t be an issue.

Customer Support

Dough does have customer support agents that are available from 7.30 am to 5 pm CST. You can access the support team through the app with a chat function. However, their hours are limited to weekdays only. There is currently no weekend customer support. 

Chat queries and questions are promptly answered during these times. The reps are typically helpful and pleasant, even if you have multiple questions. If you do struggle to use the chat feature or you have a more detailed issue, you can also contact the support team via the [email protected] email address. 

The Dough app also features an FAQ section. This can provide answers to common questions and may provide the information you need without needing to bother with email or chat. You can also use this section to download account documents. 

Since Dough is an app-based platform, there are no branch locations. So, it is impossible to get face to face service as you might get with a more traditional brokerage company. 

Dough Premium

With the launch of Dough Premium the company has added trading on margin to its platform.

As with other types of margin accounts, there are some requirements to qualify. You need at least $2,000 in assets for Dough Premium. Dough Premium members can now purchase up to 2x their deposit. 

Dough Premium adds entering long positions with borrowed funds. However, you can also short stocks with a Dough Premium account. Other than the margin rates, there are no fees for this new Dough service. 

You can check your eligibility for the Premium account level by checking the settings on the app. Just tap “Dough Premium,” and you’ll see a message to confirm if it is available for you. Be aware that premium accounts may not necessarily be eligible for securities lending. 

If you don’t want a Premium account, you can email an opt-out request to the Dough support team. 

Get Free Stock From Dough

As we mentioned in the intro, one appealing reason to consider Dough is that the company gives away free stock. In order to bring in new customers, Dough gives away free stock shares both to you, and the person who referred you. You can also refer your friends later on and receive up to $500 in additional free stock.

Dough app get free stock

When you open your account, you will receive one share from a “random” company from within the top 200 most traded listed stocks. The share will be deposited into your new account within seven business days of your account being approved. To withdraw the proceeds from the sale of your free stock you’ll need to first link an external bank account and deposit $25 into your Dough account.

Most people will not end up with a high-value stock such as Apple or Twitter. Approximately 98% of users will receive a free stock worth $2.00-$10.00 per share. 1% will receive a stock worth $10.00-$50.00 per share, and another 1% will get a premium stock worth $50.00-$200.00 per share.

As you can see above we have two free stocks in our account, one for referring a friend, and one when we opened an account. Both were under $10.

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While most people won’t get the high-dollar stocks, it’s still a nice bonus just for opening your free account. It’s kind of a fun surprise to discover what stock you end up with. It may be a share from a company that you’re already interested in or one from a company that you may not have even heard of. Either way, it’s interesting to check the value of your free stock and see how it changes in price in your first few weeks of using the app. 

If you’re interested in getting even more free stock, check out this post that talks about companies that give free stock.

Dough Pros and Cons

Like any financial platform or product, there are both pros and cons to the Dough app. It is important that you’re aware of the positives and negatives to make an informed decision about whether you sign up. 

The Pros:

  • Commission-free trading of stocks and ETFs
  • Idea feed providing a simple way to find new stocks you’d like to trade
  • User-friendly interface
  • Stock pages with analyst ratings
  • Explanations for stock price movements
  • Free stock!

The Cons:

  • Basic line plots, not a lot of advanced data
  • No mutual funds, foreign stocks, forex, cryptocurrencies, or options trading
  • The basic interface may be a little simplistic for more experienced traders
  • No fractional stock purchases

How Does Dough Compare?

Since Dough is not the only commission-free brokerage platform, you may be interested in how it compares to other firms.

The main area where Dough stands apart from its competitors is in the information they offer for traders who only occasionally check into the market. The Idea Feed provides trading ideas for stocks matching your interests. You don’t even need to do a deep dive into the technical information if you don’t want to.

Dough also offers podcasts, video tutorials and other educational content via the Idea Feed for newer and even some more advanced investors.

Dough app educational content

Another area that differentiates Dough is the explanations of stock movements. This can be extremely handy for those who don’t closely follow the market but want information about price data, and why values are rising or dropping. 

The analysis ratings for each stock can also help newbie traders to make more informed buying and selling decisions. 

Dough Is A Good Low Cost Option For Some Investors

The Dough app is a superb platform for a particular set of investors. If you want to bypass the barrier of fees and commissions, and want an app that can help you to learn some new concepts while you trade, Dough is a great choice.

However, if you’re a more sophisticated, experienced investor, the simplified process and features may be a bit limited for you. Since commission free brokers are a lot easier to find these days, there are other options if you want options trading or need technical analysis and more sophisticated charting tools. 

So, if you’re looking for a fee-free DIY investment platform that doesn’t bog you down in jargon, Dough could be the right choice for you. You can develop your skillset and gain your investing confidence without a steep platform learning curve. You can also use the Idea Feed for trade inspiration. While the graphs may be a little basic, you won’t need to spend hours trying to figure out how things are moving. Additionally, Dough will give you details about stock movements, so you can get a feel for the market. 

As Dough is fee-free and has no minimum initial deposit if you’re new to investing, why not give it a try. You’ll even get a free stock for your trouble!

Dough App review


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