We are way into the 21st century, and the development of technology has made most things in life accessible. There’s now an application for everything you could think of, from getting a ride from home to the workplace to getting breakfast served right to your doorstep.
With the development of mobile has come the advent of many online businesses. People can now make money right from their hand-held devices without even stepping out of their homes.
Investing and stock trading have not been left out and today’s mobile world has made it cheaper and easier to become an investor, with the many free investing apps available.
Agreed, trading stocks are not as easy as buying your favorite tee-shirt online or ordering pizza from Debonair’s. Nevertheless, having a good stock trading app is gradually proving to be an invaluable tool to have in the locker if you want to be a successful investor.
This article is going to enumerate the best stock trading apps available on the internet.
Granted, there is no overall best online stock trader, but to find these, we delved deep into research and analysis of each application while testing them out with different investment strategies.
Here are the top picks for applications to trade stocks this year and beyond:
Acorns is directly linked to the bank account of the investor. It is very user-friendly, and its simple and basic design makes it suitable for first-time traders.
The software is such that it takes a minor percentage off your daily credit/debit card purchases in your portfolio until it reaches $5. Then it automatically invests the money into a portfolio you had chosen before.
Its unique selling proposition includes quick deposit options and a round-up multiplier. No minimum investments are required, and there’s a ‘Potential’ tab that allows the investor to see the growth potential.
A unique feature of Acorns is that users get $5 bonuses for every registered person they recommend the app to.
Acorns charges $1/month for investors with a net balance under $5 and 0.25%/year for users with a net balance equal to and over $5. Fees become less of a burden as your portfolio grows.
2. Ally Invest
Ally Invest is viewed by some as the most user-friendly and definitely one of the best trading apps online. Its design makes it easy for beginners to understand and navigate.
It requires a flat commission rate of $4.95 but compensates handsomely with a $0 minimum balance.
Ally Invest does not try to incite trading by charging an inactivity fee like most of its counterparts. Instead, it offers active traders mouthwatering discounts.
Unique features of this application include advanced charting tools for technical analysis, streaming quotes with which to monitor your investments, profit-loss estimators, and unfettered access to the most recent market news.
Ally Invest’s trading options include stocks and options, IRAs, ETFs, bonds, mutual funds, forex, and International Stock Exchange.
Ally Invest’s major selling point is its unmatched customer service. No matter the issue, be it technical or rudimentary, you can count on a team of Ally Invest’s top stockbrokers to answer your queries with speed and efficiency.
The application does most of the heavy-lifting for you. All you have to do is answer a questionnaire about your investment goals after you register and voila!
Moreover, it requires just $0 to start but, a management fee of $0.25 is charged annually.
The unique feature of Betterment is the plethora of research tools it makes available to help investors build retirement plans, reduce taxes, and save.
Another reason investors choose Betterment is their outrageous bonuses (at least when compared to other apps). Investors can get up to a year of free management, depending solely on the amount invested.
4. TD Ameritrade Mobile
Toronto-Dominion Bank’s application is one that embraces everyone. It does not matter if you are a seasoned trader or a beginner, you will find this free trading app easy to use.
It even has embedded in it a series of simplified features for newbies and instructions for investors.
The software is not unidirectional as it could be used on four separate platforms – web, mobile app, Trade Architect or Thinkorswim.
TD Ameritrade Mobile app does not require you to start with more than $0 in your account. All you need to begin trading on the market is just downloading the free trading app from your mobile’s app store and register an account.
After login, you’re required to select your initial investment amount and start making money by trading.
TD Ameritrade allows external money transactions which are very important for investors. Asides this, it will enable you to have a taxable brokerage account, price alerts, in-depth account monitoring, screens and lists customization, charts with indicators, research and news, backtesting, earning calendars.
Another selling point of this app for Apple users is the fact that you can use your Apple Watch to track real-time quotes, without using your phone. Very cool!
First off, the mere fact that Capital.com is regulated and authorized by the Financial Conduct Authority (FRN 793714) catapults it to the top of our list.
Asides this, it is an award-winning CFD stock trading app that has won accolades for the best stock brokering service provider.
Built on a system, the crux of which is artificial intelligence, the in-app user experience is unmatchable.
It has an adjustable dashboard that is very personalized and user-specific, a consequence of its SmartFeed algorithm. You can find many rare cool features in the app.
Capital.com allows investors to trade CFDs of a diversity of assets, not including the regular currencies.
The app has inbuilt protection of the negative balance, cognitive bias alert by AI, real-time analysis, quick withdrawal, price alerts, and risk management.
Why Capital.com is not at number one is the $100 minimum deposit you must have at all times. It also requires you to make a minimum bank transfer deposit of $250. There’s also a fee charged whenever a deposit or withdrawal is made.
As the name implies, Robinhood is arguably the best free stock trading app. It is not just cheap; it is free!
Its interface is super basic and simple to use. The application is very newbie-friendly as it does not charge commissions on trades – a new investor’s dream.
All an investor has to do is sign up and make a deposit. From there, you can search for any company of interest (using the app’s search bar), monitor their revenues and invest by how the tide is blowing.
Robinhood’s major selling point is the fact that it requires no minimum investment, no commissions, and no maintenance fee.
It also provides investors with a company watch list, day-trade tracking, scheduled deposits, and advanced order support.
On the latest version of the application, there’s a new feature called Robinhood Instant that allows investors to access their deposits (under $1000) immediately, instead of having to wait for three business days as is the norm.
On top of all these, there are also features like Robinhood Gold (that allows ample amount of instant deposit, credit line, and after-hours trading) and Cryptocurrency Trading (Litecoin, Dogecoin, Bitcoin, etc.).
E*Trade is not the go-to stock trade app if you’re new to the market. It is majorly suited to experienced traders with huge investments and profitability.
First off, to start trading, the application requires you to invest a minimum of $500 as the deposit. It then needs you to pay $6.95 to buy stocks.
This figure, however, reduces to $4.95 if you make a minimum of 30 trades per quarter.
Despite all of the above, the app also provides unique features which make trading with it very worthwhile.
As a trader, you can buy and sell stock, future, options, mutual funds, bonds, forex, and trade online without ever interacting with the broker directly.
It also offers powerful monitoring and analyzing tools that are updated regularly.
Its customer service is top-notch. It provides real-time news and quotes, comparison and performance charts, barcode scanner, the customization of watch lists, and a voice recognition system.
E*Trade is available on all mobile OS systems.
Fidelity does not excuse commissions but has made them very low. It also requires a $4.95 registration fee.
However, upon registration, Fidelity has put the entirety of your trading journey in your hands. You first have to fill a questionnaire that allows the stock trading app an insight into your investment methods and your goals.
The app then provides you with ETFs and mutual funds you can use to trade.
The app is very user-centric. Investors can customize most aspects of the software, including its interface and functionality.
You can also change your features depending on your trading skill level.
Fidelity provides you with a personalized feed, account review, and management, adjusted tax schedule, customizable alerts, ability to pay bills automatically, deposit money to the Roth or Traditional IRA.
SigFig requires a whopping $2,000 account minimum. However, investors can manage their first $10,000 for free.
Immediately the $10,000 limit is exceeded though, the annual management fee SigFig requires is 0.25%. Apart from that, the cost for Diversified Income Portfolio is 0.50%.
By default, SigFig is more suitable for seasoned traders because of its relatively high account minimum.
This stock trading app provides well-organized asset management and simplified easy-to-track portfolio.
The SigFig platform utilizes third-party accounts of investors who have been previously registered on TD Ameritrade, Charles Schwab or Fidelity. The software monitors and improves the portfolio of the investor, balances his/her trades, and reduces the fees.
It also has a built-in free adviser and advanced Portfolio Tracker. A unique feature in which your dividends are automatically reinvested, and funds on all accounts are automatically rebalanced for free make SigFig stand out.
Stash as a trade stock app is focused mainly on teaching you how to build your ETF portfolio. This focus makes it an excellent option for inexperienced investors looking to begin their trading careers.
Stash registration is free, but a $5 minimum investment deposit is required. A $1 monthly maintenance fee for accounts under $5,000, but 0.25% annual fee for accounts over $5,000 is also required.
The trading app has a unique feature whereby each investor can own a standard and retirement account at the same time, on the same platform.
Other unique features include Stash Coach; Smart-Save (which automatically saves the minimum of your daily purchases); Real Estate Investment Trusts feature (which invests minimal quantities in real estate, uniting the investors with the same interests and purchasing a shared property).
Its range of flexible investment options makes Stash a universal trading application worldwide.
Stockpile is a very rare stock trading app not only because it focuses primarily on new traders (even children) but because it has a unique ability to provide small purchases with gift cards.
The company is based on fractional shares and does not require significant investments.
Investors can purchase fractional shares say 0.50 of a whole share and invest in household-name companies. The only requirement to finish the process is that the investor must buy a gift card and exchange it for the stock.
It has unique features like gift bundles, wish lists, credit card funding, redeem for retail, physical gift cards validity.
This application also possesses an expert learning system that investors could access to learn everything about trading stocks.
The app only requires you to register. There is a 0% minimum investment, an option for taxable and custodial accounts, a $0.99 fee per trade, a $0.99 fee for every extra stock and a $2.99 price for the first gift card stock.
12. Schwab Mobile
The application interface is elementary, making it simple for first-time investors to use (a $100 gift awaits first-time users). It also caters for experienced investors with its long list of advanced features.
Schwab provides investors with over 4,000 mutual funds and 250 ETFs, that are both transaction and commission free. The app has in-built exceptional industry research and is said to be highly efficient.
Other features of this stock trading app include custom layouts, news and analysis, watch list, real-time quotes, and association with Apple Pay.
It doesn’t require service fees but an account minimum of $1000. $4.95 trade commission is also expected as well as a $76 price for transaction funds not on the Schwab list.
WealthFront is an app that automatically invests your money while charging you moderately low prices.
All you have to do is register and set a goal while including a risk assessment. The application will do the rest of the work by using its integrated tool to create the best strategy to achieve your goal.
The application acts as a financial adviser to help you make money.
While you can create a diversified portfolio on the platform, WealthFront does not allow fractional shares.
Some of WealthFront’s features include portfolio review, index funds, tax location, Smart Beta, Automatic rebalancing, and Risk Parity. The application’s Path-saving system is where you set your investment goals and save efficiently towards achieving them.
WealthFront comes with free registration but requires a $500 account minimum deposit. You cannot withdraw unless you’ve hit the $250 minimum withdrawal mark.
%0.25 annual maintenance fee is charged for accounts with a total balance that is more than $5,000. There is also a Portfolio Line of Credit available for accounts with an overall balance equal to or greater than $100,000.
14. Trading 212 app
Trading 212 has links to all the major markets worldwide. It is globally known, and it has numerous trade possibilities for active investors.
The system is perfect for new traders as it has content-rich educational programs to teach newbies about itself. After registration, you have the option to run a demo account to get familiar with the app and its modalities.
Trading 212 utilizes a segregated tier-1 bank account for all the money that their investors possess.
The application is very user-friendly, employs automated trading, has a market analysis feature, monitors trading signals, and has the option of one-click execution.
A minimum account deposit of $150 is required, however, with a monthly reward of 10 commission-free deals. After the 10 commission-free deals have been exhausted, each commission varies from $1.95 + 0.05% to $1.95 + 0.08%.
If you’re an investor with a bag of money looking to invest your money in portfolios that are socially responsible, then you should check out WealthSimple. It is a robo advisor that helps people who want their investment choices to coincide with their values.
WealthSimple does not charge trading, rebalancing or account transfer fees. Only a 0.40 to 0.50 percent annual management fee.
When it comes to pricing as well, this application is transparent.
WealthSimple unique features include automatic portfolio rebalancing, automatic deposits, dividend reinvesting, tax-loss harvesting, and on-hand financial advice from experts.
Having a minimum account balance of $0, WealthSimple’s investing options include Traditional IRA, Personal taxable account, SEP IRA, joint taxable account and trust, Roth IRA, rollovers from 401(k) and 403(b) retirement accounts.
For investors who have over $100,000, WealthSimple provides financial planning sessions as well as VIP airline lounge access in over 400 cities around the globe.
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