Trading apps that allow instant deposits can be a lifesaver for day and swing traders who rely on volatility and fast-moving price swings. If you’re an active trader, then we don’t have to tell you just how valuable those extra minutes and even seconds can be.
What We'll Cover
There’s nothing more frustrating than spotting a great opportunity, only to realize your brokerage takes days to make newly deposited funds available. If this sounds all too familiar, then join us for a look at the best trading apps with instant deposit.
Even if you want to stick with your current brokerage, it never hurts to have a second account standing by that offers instant access to new deposits. We’ll also explore which trading app has the fastest withdrawal to allow you to access your funds when you need them.
What Is the Instant Deposit Option and How Does It Work?
No matter which brokerage app you use, you are likely to fund your account with money from a connected bank account. But unless you have a bank and brokerage account through the same financial institution, it’s unlikely that your transfers will settle right away.
In some cases, it can take up to 3 - 5 days for your money to make its way from your checking account to your brokerage account. Luckily, several trading apps now offer an instant deposit option, which allows you to access a portion of your deposit before it's settled.
Trading apps that allow instant deposits will often allow you to use newly deposited money to trade before it leaves your bank account. Just make sure you actually have enough money to cover the transfer when it finally does go through.
Otherwise, you may lose instant deposit privileges or even incur transfer reversal fees.
What Broker Allows Instant Deposit?
Several different brokerages now offer instant deposit for free. Just be aware that there may be limitations on how much money each broker will allow you to access instantly.
There may also be limitations when it comes to how long you have to wait to withdraw funds once you make a sale.
Let’s check out some of the best trading apps with instant deposit and instant withdrawal capabilities, as well as what you need to know about each.
|Instant Deposit Limit
|Stocks, ETFs, Options, Select Cryptocurrencies
$5,000 with Robinhood Gold
|Stocks, ETFs, Options, Mutual Funds, Forex, Futures, Bonds, CDs
|Stocks, ETFs, Options, OTC, select Cryptocurrencies
|Stocks, ETFs, Options, Select Cryptos
|$500 (external account)
$50,000 (SoFi bank account)
|Stocks, ETFs, Select Cryptos, CFDs
|Stocks, ETFs, Options, cryptocurrencies, Small Exchange Futures, CME Futures, Micro e-Mini Futures, and Options on Futures.
|Stocks, ETFs, Options, Futures, Funds, Select International Assets
Robinhood is a trailblazing app that was among the first brokerages to offer commission-free trading. The Robinhood app is a great, no-frills beginner app that offers access to stocks, ETFs, and select cryptocurrencies.
Robinhood also offers a cash card, which is a nice way to access the proceeds of your trades immediately, without having to do a bank transfer. Similar to the Acorns Checking card, the Robinhood cash card also offers stock and crypto rewards in the form of round-ups.
Recently, Robinhood also began offering IRAs with a 1% match.
- Commission-free stock, ETF, and crypto trading
- Optional cash account with unique rewards
- Supports fractional and crypto trading
- Now offers IRAs with a 1% match
- Limited research or charting tools
- No bonds or mutual funds
You may want to read: Acorns vs Robinhood: Who's best For, Pros-Cons & More
TD Ameritrade is a great choice, no matter what style of trading you prefer. TD’s ThinkorSwim platform is also a must for day traders and comes loaded with an impressive array of free tools.
If you’re more of a casual or intermediate investor, however, you’ll likely find the regular TD Ameritrade dashboard far more approachable. While TD offers a large range of assets, there are restrictions on those you can buy with the instant deposit option.
After making a transfer from your linked bank account, you’ll be able to use your funds to make immediate stock and ETF purchases. Just be aware that you’ll have to wait 3 - 4 days to purchase non-marginable assets like options, forex, futures, etc.
- No account fees or minimums
- Access to a large range of commission-free assets
- ThinkorSwim platform is an incredibly impressive free resource for day traders
- Great research and educational tools
- No crypto trading
- No fractional trading
Over the course of the last few years, WeBull has become an impressively comprehensive trading app. The app and desktop interface offer access to plenty of great tools, research & education, and social media-style features.
WeBull offers access to commission-free stock and ETF trading. You can enjoy up to $1,000 worth of instant deposit funding for both, though you will have to wait for funds to settle before trading options or crypto.
WeBull also offers plenty of great resources, like free courses and a free paper trading account.
- Offers fractional trading and commission-free crypto trading
- Impress range of cryptocurrencies and a crypto wallet coming soon
- Great research, charting, and social tools
- Almost always offers great welcome and referral bonuses
- No mutual funds
SoFi is a great choice if you like having access to your finances all in one place. Not only does SoFi offer a great investing account, but also everything from checking and savings accounts to credit cards, mortgages, and insurance.
SoFi allows you to enjoy up to $500 in instant deposits from a linked Visa or Mastercard debit card. But if you happen to have a SoFi bank account, you can instantly transfer up to $50,000.
While SoFi does not offer instant withdrawal, you can connect to your bank account through Plaid, so external transfer withdrawals usually settle within 1 – 3 business days.
- Free active or automated investing options
- Crypto and fractional trading
- Also offers bank accounts and loans
- IRAs available
- 25% fees for crypto transactions
- No stop-loss orders or tax harvesting options
EToro first rose to fame as a crypto investing app but has since expanded its offerings to stocks and ETFs. The platform offers access to up to $1000 immediately when you make a deposit from a linked bank account or debit card.
While advanced traders may find eToro a bit limiting, it’s a great platform for beginning or intermediate traders. One of eToro’s claims to fame is its CopyTrading feature, which allows you to automatically replicate the moves of your favorite traders in real-time.
- Unique CopyTrading feature
- You can earn money if you become a copied trader yourself
- Commission-free stock trading
- Fun, easy-to-navigate interface
- 1% fee for crypto trading
- No crypto-to-crypto trading
TastyWorks is a full-service brokerage that offers stocks, ETFs, crypto, options, future, and more. When you connect your bank account through Plaid, you’ll enjoy access to up to $1,000 of each deposit instantly.
While the platform’s large number of options may be intimidating for beginners, it does feature a full selection of educational offerings to help you grow. TastyWorks is a particularly great choice for options traders, as its fees are on the lower side.
- Great choice for low-cost options trading
- Commission-free stock trading
- Solid research and educational tools
- Free fractional share trading
- 1% fee for crypto transactions
- May not be the best fit for beginners
MooMoo is another solid commission-free brokerage that offers stocks, ETFs, and options. When you connect your bank account, you’ll enjoy up to $1,000 instantly whenever you make a deposit.
MooMoo is a great fit for intermediate and advanced traders due to its impressive range of professional tools and screeners. One of the things that set MooMoo apart is that it offers access to several international markets in addition to U.S. markets.
- Great choice for active traders
- Huge library of educational tools
- Professional-level charting and screening tools
- Access to international markets
- No crypto trading
- May be overwhelming for some beginners
Which Trading App Has Fastest Withdrawal?
If so many trading apps offer instant deposit, why is it so hard to find those with instant withdrawal features? First, you have to keep in mind that it takes the money from brokerage sales a few days to settle before it can be transferred to your bank account.
You also have to keep in mind that the delay may also come down to your bank. While a brokerage may send over your transfer immediately, it can take a few days to settle in your bank account.
Robinhood is one of the few brokerages that’s found a way around this. For a fee of 1.5%, you can transfer money from your Robinhood account to a linked debit card in about 10 – 30 minutes.
Alternatives to Instant Deposit
While popular brokerages like Schwab and Ally don’t offer instant deposits or instant withdrawals from external accounts, there is an easy workaround. When you also open a bank account through the same platform, you can transfer funds in and out immediately.
If this option is available through your brokerage, it may be worth looking into. Even if you don’t use the associated account as your regular bank account, it could make a nice place to stash some extra cash in case you ever need it for immediate trading.
We hope this has helped give you a good overview of what instant deposit is and how it works. Trading apps that allow instant deposits can be a very lucrative asset for active traders who want to make sure they can take advantage of great opportunities as soon as they’re available.
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