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The Best Stock Trading Apps

Updated on Sep 18, 2020
trading apps

In today’s high-tech society where we feel we have the world at our fingertips, investing in stock markets from your mobile devices seems nothing out of the ordinary. These stock trading mobile apps are designed with the latest trading tools and are sufficient as the primary trading platforms for both first-time and experienced traders.

Trading online has never been easier because of these investing apps with their easy-to-use features and access to real-time stock price streaming, market trends, and the ability to place orders, draw stock charts, make and track your portfolio all in your smartphones or tablets. 

Most trading Apps are limited by residential status and geographical regulations. For instance, here is how to invest in Indian stocks from the US. Make sure you conduct thorough research before starting your trading journey.

Some important factors to consider when you choose the trading app are costs, ease of use, investment options, types of accounts available, tradable assets to name a few. Ultimately, the best stock trading app for you will depend on your investment goals and your experience. 

In this blog, we have listed out the top 5 stock market apps based on several distinguishing features.  

1. TD Ameritrade 

You have probably heard of TD Ameritrade if you are a trader. For beginner traders, the standard TD Ameritrade app is a good choice. It allows you to conduct research, get the latest news on the stock market, set up alerts, and even has a ton of educational content. It is convenient especially if you are on the move and want to stay updated on the latest trends. 

The other TD Ameritrade Mobile trader app called ‘thinkorswim’ that caters to more experienced traders. You can track stocks, forex, complex options, and futures. It allows you to place orders, modify and edit order conditions easily and fast. Both iOS and Android users have many functionalities to choose from. The app even has a live streaming program from CNBC giving key insights. 

You have access to both the apps via a TD brokerage account which requires no minimum deposit. TD Ameritrade offers you to trade stocks and ETFs (Exchange-traded funds), and options trade at $0 commission. It is the best choice for options trading.

Account types that you can open with them are standard, retirement, education, and others.

With a variety of investment options for passive and active traders and a $0 account minimum, along with providing good market research and analysis tools, TD Ameritrade mobile app is winning over investors. 

Just keep in mind before purchase, filter for no-load ETFs since there may be charges for certain ETFs, equity trades, and mutual funds.

fintech companies

2. Robinhood 

Robinhood is one of the biggest FinTech companies in the US by valuation. 

If you are looking to trade without paying any fees, the Robinhood app is one of the best trading apps. They offer commission-free stock, ETFs, and options trading with a $0 account minimum. You also have the option to buy and sell cryptocurrencies like Bitcoin, Ethereum, Dogecoin, etc with Robinhood Crypto. However, there are not many investment options with Robinhood. Skrill cryptocurrency trading is gaining popularity amongst the crypto enthusiast. 

With the Robinhood app, you have access to real-time market data and alerts on important news about the financial market. The app comes with an easy to use interface and the standard research tools. The app is available on both mobile and desktop.  

Whether you are a newbie or a seasoned trader, trading is very seamless with Robinhood, though the recent outages have made the platform less reliable among the investors.  

3. E*trade

E*trade app is the best app to buy and sell stocks in the United States. It offers $0 commission for US-listed stock, ETFs, and options trades. Both professionals and beginners investors can use the app. 

The standard E*trade website and app are well suited for investors who are just starting. It allows you to manage your account, place orders, and get quotes and news in real-time. You can set alerts and create watchlists for the investments of your interests. Even live stream Bloomberg video. The app offers stock and ETF screeners and multi-leg options trades.

For active traders looking for features such as charting tools, price notifications, and others, their other platform called the Power E*trade is the appropriate choice. The latter app is focused on options and futures and used for trading complex strategies. 

4. Acorns (Invest Spare Change)

Acorns app is a great investing tool for college students with no experience in trading. With the app, you can view your portfolio, see your index funds performance and get news on the market among many others. 

One great thing about Acorns is that it is an automated investing app that offers round-up savings of your spare change and invests your money into a low-risk portfolio. You can open an account with Acorns using your bank account. 

Acorns have a $0 account minimum but it has a monthly fee ranging from $1 to $3 depending on the account type. And your accounts are taxable. 

Overall, the Acorns app is the best app to get started with investing, even with a small amount of money. 

5. Stash 

Stash app made it on our list because it provides the best investment guidance to beginners investors. You have access to lots of educational content aimed at making you understand the investing process with zero commission. 

Like Acorns, Stash is not free and has a monthly fee ranging from $1 to $9, though it has a $0 account minimum. You can start building your portfolio with a wide range of investment options that Stash offers based on your investment personality type. They also offer fractional shares investing. 

Overall, the app is user-friendly and allows first-time investors to get started with building the investment portfolio. 

Things to remember when choosing the best stock trading app for your trading needs. 

  • The best app for you will depend on your specific needs and expectations. Do you want to be a passive or an active trader? Or do you need access to research and education tools or technical support (charts, graphs, news, etc)? Or do they charge a monthly fee? 
  • Although apps like Interactive Brokers or TradeStation didn’t make it on our list, active traders will prefer these over the other apps. 

    You need little money to start trading with apps like Acorns, Robinhood, and Stash while TD Ameritrade and E*Trade offers a wide range of investment options. 

    Once you are clear about your requirements, you can look for the app that meets your needs.

  • Secondly, the trading app should be user-friendly and quick to execute the trade accurately. The easy to use functionality is a must. The self-explanatory features and operations of the app are crucial to help you master the app in less time. 
  • The app should give you access to 24/7 customer support via email, call, or chat. See whether they are quick to respond or how easy it is to talk to their representative when you have a problem. 
  • Most stock trading apps allow you to use your debit cards to fund your trading. You can also deposit from your bank account in some cases. However, credit cards are normally not accepted. 
  • Always check the app’s safety and security features. Read customer reviews and make sure that there is no breach of user data before you select an app. 
  • Go through the advertiser disclosures to be aware of the risks involved before you start trading.
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