Top perks
Commission-free stocks, mutual funds, ETFs, and four cryptocurrencies
The Plynk app allows you to invest in a wide selection of stocks, exchange-traded funds (ETFs), mutual funds, and the following four cryptocurrencies:
- Bitcoin
- Litecoin
- Bitcoin Cash
- Ether
There's no minimum required to open a Plynk account, and you can start investing with as little as $1. You can invest in stocks, ETFs, and crypto commission-free, but there are fees for individual crypto trades.
$10 sign-up bonus
Plynk is currently offering a $10 sign-on bonus that will be deposited into your Plynk brokerage account within 30 days once:
- You download the Plynk app and create a brokerage account,
- Plynk approves your account, and
- You link an eligible bank account.
Turn your unused gift cards into money to invest
Plynk has a gift card exchange program where you can turn your unused gift cards (from over 200 brands) into money to invest. If you have any unused gift cards sitting in a wallet, junk drawer, or the bottom of a purse, you can turn those unredeemed gift cards into money you can invest with Plynk.
Plynk Think's educational hub
Plynk is geared toward beginner investors. Its goal is to simplify the process while helping you learn as you go. Plynk Think is an educational hub that helps you learn one lesson at a time and get basic tips on managing personal finances. Plynk is not a robo-advisor, but through Plynk Explore you can find investments that match your interests by answering just a few questions.
What could be improved
No retirement account
Plynk only offers a brokerage account and no retirement account options. If you are interested in starting a traditional individual retirement account (IRA) or Roth IRA, then you will have to open an account with another financial institution.
Fee to trade crypto
While it is free to trade any stock, mutual fund, or exchange-traded fund, there is a fee to trade crypto. It is $0.50 per crypto trade for trades $100 or less, or 0.5% per crypto trade for trades above $100. If you plan on trading crypto frequently, you’ll need to account for these fees in your budget, as they can add up over time.
$2 monthly fee for some features
Plynk states that it has the discretion to temporarily waive this monthly fee, in the form of a free trial or otherwise. It will provide notice upon reinstatement of this monthly fee or general changes to its fees. This monthly fee is currently waived for all customers, but can be brought back at any time.
Not for advanced traders
Plynk is for beginner traders. If you are a more advanced investor or want to trade options, then Plynk isn't for you. Plynk does not support advanced trading tools, strategies, or offer margin.