After the expansion of online activities, users have the opportunity to try their hand at just whatever interests them. If you’ve always wanted to trade stocks but found it too expensive and demanding, now is a good time to learn about the benefits and risks of stock trading apps with this article.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 67 and 89% of retail investor accounts lose money when trading CFDs. Certain parameters such as margin can also be volatile depending on market trends. You should ask yourself if you understand how CFDs work and if you can afford to take the high risk of losing your money.
Warning. 68% of retail investor accounts lose money when trading CFDs with eToro. You need to ask yourself if you can afford to take the high risk of losing your money. Your capital is in danger. Other fees apply. For more information, visit etoro.com/trading/fees. Additionally, this content is not intended for US users. eToro USA LLC does not offer CFDs, only real Crypto assets are available.
Plus500: 79% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you can afford to take the high risk of losing your money.
15 Best Trading Apps in 2023
1. Plus500
Plus500: 79% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you can afford to take the high risk of losing your money.
Also keep in mind that Plus500 is a CFD provider and only offers the CFD service. All instruments are available for trading only through CFDs. To start real trading, you need to register, which includes submitting some personal documents and reading some special documents and a questionnaire.
Plus500 is known for its comprehensive trading screen with detailed information on past and current market positions. Now, Plus500UK Ltd is an experienced platform authorized and regulated by the FCA (#509909), Plus500CY Ltd authorized and regulated by the CySEC (#250/14), while Plus500SEY Ltd is authorized and regulated by the Seychelles Financial Services Authority (License No. SD039). The app is very visually rich and includes expansive graphics. Commissions are affordable and variable. Therefore, investors of all skill levels should give it a try.
How it works: Plus500 is a proprietary platform heavily focused on technical analysis and stock trading. The application allows users to perform several tasks inside the program. Trading on multiple markets and tracking prices in real time.
Great features: demo account, risk management, a variety of trading assets, email alerts, mobile alerts, guaranteed stop order, available for all mobile operating systems.
User Tip: Integrate all your trades across multiple financial markets using the same Plus500 app screen.
Business model: €100 minimum deposit for standard funding methods / €500 minimum bank deposit.
2. Robinhood
Free, basic, easy to use and among the best trading apps. Apart from the standard plans, the app offers premium subscriptions for golden features. The absence of commissions makes it extremely suitable for new investors.
How it works: After signing up and making a deposit, you can search for a specific company in the app search bar and, similar to all trading platforms, monitor how the company’s earnings are changing. company and invest accordingly.
Cool features: no minimum investment, no maintenance fees, no commissions. Scheduled deposits, company watchlist, daily trade tracking, advanced order support. The newly added feature, Robinhood Instant, lets you instantly access deposits (under $1,000) instead of normally waiting for three business days.
User Tip: Deposit your funds immediately so you can take advantage of a great deal as soon as it appears. To be patient. If you see one of your potential stocks growing, don’t rush to sell it and lose money before you even make any.
Advanced:
Robinhood Gold (large amount instant deposit, after-hours trading, line of credit)
Cryptocurrency trading (Bitcoin, Litecoin, Dogecoin, etc.)
Business model: free application, no commissions. Although it may sound too good to be true, Robinhood actually offers an opportunity to earn money without taking any commission from you, which is the key part of the app’s official advertising campaigns.
3. Capital
A web-based platform and mobile app, Capital.com is a free, global stock trading apps with over 2.5 million users and counts. Even novice traders can use it and learn risk-free – through a demo account to practice commodity trading, cryptocurrency trading, CFD trading, stock market. There are Standard, Plus and Premier accounts in 2 tiers (Retail, Professional).
How it works: A user opens an account of their choice on Capital.com (web or mobile), makes a deposit in US dollars/UK pounds/Euros/Polish zloty ($20 minimum), trades on one of the global markets, makes profit or loses on trading, withdraws funds whenever he wants. Capital Com is registered in England and Wales and is regulated by the FCA (license number 793714). And Capital Com SV Investments is regulated by CySEC under license number 319/17.
Great features: 75 technical indicators, free demo account, no commission on day trades, maximum leverage 1:200, stop-loss option, crypto-trading (Bitcoin, Ripple, Ethereum), 3000+ markets, Forex, trading guides and webinars.
Tips: you can set a stop-loss to avoid a negative balance. Withdrawing funds to a credit card can actually take 2-3 business days or more, depending on the user’s banking operations.
Business model: minimum deposit of 20 EUR / USD / GBP, or 250 EUR by bank transfer, spreads.
Please note: 71.2% of retail investor accounts lose money when trading CFDs with this provider.
4. TD Ameritrade mobile
The Toronto-Dominion Bank app is ideal for advanced traders and has simplified features included for beginners and training for investors. The software makes it easy to perform external financial transactions and can be used on four different platforms.
How it works: Download the TD Ameritrade Mobile app from the store and register an account (in case you haven’t registered on tdameritrade.com). With a minimum account of $0, start investing and monitoring the stock market while staying connected to your app.
Choose the initial investment amount and start earning money trading. Advanced:
- Retirement account (Traditional, Roth or Rollover IRA)
- Education Accounts (Tax Free Coverdell, UGMA/UTMA Accounts, 529 Plans)Best stock trading apps
- Specialized Accounts (Advanced Features)
- Managed Portfolios
- Margin trading (leverage)
Exciting Features: Transfer funds between TD Ameritrade accounts and external accounts, $0 minimum account, taxable brokerage account, in-depth account monitoring, price alerts, charts with indicators, customization of screens and lists, news and research, back tests, earning schedules.
User Tip: You can follow quotes in real time on your Apple Watch, without using your smartphone. TD Ameritrade has four different platforms; Web Platform, Trade Architect, Thinkorswim and Ameritrade TD mobile application. Although you can use them all, you should know the difference.
5. E*Trade
Trading apps suitable for skilled traders with high profitability and large investments. The application is available on all mobile operating systems and on a web-based platform. It offers powerful monitoring and analysis tools.
How it works: Investors can buy and sell stocks, options, futures, bonds, mutual funds, forex and exchanges online, without direct interaction with the broker. To start trading, you need to invest a minimum of $500 as your first deposit.
Cool Features: Margin Analysis Tool, Margin Calculator Tool, both updated frequently. Advanced customer service, 24×5 trading on most active ETFs. Real-time information and quotes, barcode scanner, comparison and performance charts, watchlist customization, voice recognition system.
User Tip: Click on Full View page to view all your assets and E*Trade account on one screen. It will also show you the investment overview. Analyze the data as lovingly as necessary and extract all relevant information.
Business model: minimum investment of $500. To buy the shares, you have to pay $6.95. The price decreases to $4.95 if you make more than 30 trades per quarter. Other planes:
- Brokerage accounts
- Retirement accounts
- Managed Portfolios
- Small Business Retirement Account
The app is known as the one with the highest fees compared to their rivals.
6. Fidelity
Low commission stock trading apps. Users can customize most aspects of the software, including its appearance and functionality. When you sign up, you can tailor your features to suit your skill level.
How it works: Upon registration, you are required to complete a questionnaire that will allow this stock trading app to determine your investment goals and methodology. The Fidelity app provides you with ETFs and mutual funds that you can use for your investments.
Cool features: personalized feed, account review and management, customizable alerts, adjusted tax schedule, ability to pay bills automatically, deposit money with Roth or traditional IRA. By connecting Fidelity to Echo, Amazon’s voice response device, you can get immediate feedback about inventory changes.
User Tip: Find feed preferences and adjust your feed to suit your needs. Use the training center and select the financial area that interests you. Keep learning and listening to qualified sessions that will expand your trading knowledge.
Business model: $4.95 registration. More than 90 commissions marked as “free” which are not exactly free, you have to pay a fee ratio between 0.10% and 0.50% of the total balance you have invested.
7. SigFig
SigFig is a stock trading app with well-organized asset management and a streamlined, easy-to-follow portfolio.
Due to a relatively high account minimum compared to other low cost apps, this program is more suitable for experienced traders.
How it works: SigFig is platform specific, as it uses third-party user accounts that must be pre-registered with TD Ameritrade, Fidelity, or Charles Schwab. It monitors and improves the user’s portfolio, balances investments and reduces fees.
Cool Features: Companion App, 3rd Party Account Sync, Free Advisor, Advanced Portfolio Tracker. SigFig automatically reinvests your dividends; Automatically rebalances funds in all accounts for free.
User tip: You cannot manage your credit card on SigFig. In case you want to link different financial accounts in addition to those registered on the platforms of its partners (TD Ameritrade, Fidelity or Charles Schwab), you will not be allowed to do so.
Business model: $2000 minimum deposit. Manage your first $10,000 for free. After exceeding the $10,000 limit, the annual management fee is 0.25%. The fee for the Diversified Income Portfolio is 0.50%.
8. Stash
Undemanding app for new, inexperienced investors looking for the best way to start their career. Each user has the possibility of having a withdrawal account and a standard account simultaneously, on the same platform. Stash is very popular around the world because it offers a range of flexible investment options.
How it works: As with SigFig, Stash is not a direct manager of registered accounts. However, in this case, you can link it to your bank account. The main purpose of Stash as a stock trading app is to teach you how to build your ETF portfolio.
Cool Features: Stash Coach; Smart-Save (save the minimum on your daily purchases; REIT (Real Estate Investment Trusts) feature invests minimal amounts in real estate, uniting like-minded users and buying shared ownership.
User tip: Instead of using multiple apps to monitor and manage your finances, you can open a retirement account on Stash alongside your regular account.
Business model: free registration / minimum investment of $5. $1 monthly fee for accounts under 5,000.0.25% annual fee for accounts over $5,000. Stash Retire ($15 account minimum), Custody Accounts (available to users under 18, registered by custodian).
9. Stockpile
This is an extremely rare stock trading apps with the ability to provide small purchases with gift cards. The whole company is based on fractional shares and does not require large investments. Stockpile is primarily created for new investors, including children.
How it works: Stockpile offers “fractional shares”, minified stocks (instead of buying a whole share, the user can buy 0.10 of them) and allows users to invest in name companies. family. To complete the process, the user must purchase a gift card and redeem it for stock.
Cool Features: Gift Sets, Wishlist, Redeem for Retail, Credit Card Funding, Physical Gift Card Validity. The Stockpile iOS and Android app has all the functionality of the Stockpile web version.
User Tip: This stock trading app has developed an expert learning system. Access his affordable education courses and learn all about investing. Electronic gifts cost less than physical cards.
Business model: 0% minimum investment. Taxable accounts and custodial accounts, $0.99 fee per transaction, $2.99 fee for first stock of gift cards, $0.99 fee for each additional stock.
10. Schwab Mobile
Schwab Mobile (Charles Schwab) is one of the leading stock trading apps, created for investors of all skill levels.
The design of the app is very simple which makes it easy for novice users. It also includes a long list of advanced features aimed at experienced investors, making it suitable for all traders.
How it works: Schwab has over 4,000 mutual funds and 250 exchange-traded funds, both of which are transaction- and commission-free. The application has outstanding industrial research and is marked as highly effective.
Great Features: Advanced Industry Research, Available on Web and Mobile Platforms, Custom Layouts, News & Analytics, Watchlist, Real-Time Quotes, Association with Apple Pay.
User tip: Stick to the funds found on Schwab’s list of non-transaction fees. If you want one that you cannot find on the mentioned list, you will have to pay $76 for it.
Business model: 0% service fee / $1,000 minimum account. $4.95 commission per trade, $100 gift for new users, $76 fee for off-list trading fund.
11. Acorns
Acorns is a user-friendly investment application associated with the user’s bank account. It automatically saves a minor percentage of your daily credit/debit card purchases to your wallet. Due to the simplicity and basic functionality, it is recommended for novice investors.
How it works: With the “round-up” system, Acorns monitors your bank account and keeps minor changes to your purchase until you save $5 in your investment portfolio; then it automatically invests in a certain portfolio that you have previously chosen.
Cool features: quick deposit options, no minimum investment, “Potential” tab that allows the user to see growing potential, round-up multiplier.
User Tip: By recommending the app, you get $5 per registered person. At first, don’t constantly check the app, monitoring every dollar spent. Keep shopping with your linked credit card(s) and be surprised how much Acorns has collected for you.
Business model: $1/month for users with total balance less than $5,000. 0.25%/year for users with a total balance equal to or greater than $5,000. The better the portfolio, the less you will be affected by fees.
12. WealthFront
If you’re an investor looking for automated investing and moderately low fees, WealthFront is definitely worth a try.
The app has a built-in tool that creates the best strategy to help you achieve a certain goal. Although you can create a diversified portfolio, WealthFront does not support fractional shares.
How it works: After you sign up, set your goals and assess your risk, Wealthfront classifies the money you’ve invested in ETFs (exchange-traded funds) and acts as your expert financial advisor.
Cool Features: Portfolio Review, Tax Location, Index Funds, Auto Rebalancing, Smart Beta, Risk Parity. Path save system helps you set goals and save efficiently to achieve them.
User tip: If you need advice and answers to certain questions that you can’t find in WealthFront’s FAQ, visit the company’s official web blog where you can find many great articles and educational tips.
Business model: free registration / minimum $500 account. $250 minimum withdrawal, 0.25% annual fee for accounts with total balance over $5,000. Portfolio line of credit for accounts with a total balance equal to or greater than $100,000.
13. 5paisa
Hugely popular Indian app for users of all skill levels. It is ideal for beginners, as it offers a first year free of charge when registering. 5Paisa is a low-cost stock trading apps with robo-advisor and online stock market, including most of the features offered by major financial apps.
How it works: Standard trading apps where you have to submit an application and wait for a few hours until your application is approved. You can then invest in the market of your preference and use 5Paisa’s built-in tools to control all your finances.
Cool Features: Demat Account, Immediate Funds Transfer, Quick Order, Auto-Investor, Real-Time Quotes, Synchronized Watchlist, Outstanding Charting.
User tip: Don’t rush with big investments in small and medium-sized businesses, even when the offer looks very attractive. Do your research and if the business seems stable, invest. Otherwise, it is better to prevent a failure than to deal with the consequences.
Business model: free first year / free mutual fund account. $400 ($5.80) / 18% GST annual membership for individual users. Annual membership of $1,000 ($15) / 18% GST for non-individual users. $10 ($0.15) per transaction.
14. Trading 212
Another globally recognized app with huge trading opportunities for active traders, Trading 212 merges with all major markets. The system emphasizes educational programs and apart from the mobile platform, you can also access it from the web.
How it works: As a new user, you can try a demo account which will help you learn more about this trading app and get familiar with it. Trading212 uses an aggregate Tier 1 bank account for all their users’ money.
Great features: user-friendly application, content-rich educational program, automated trading, web and mobile platform, trading signals, market analysis, chart monitoring, one-click execution.
User Tip: After winning once or several times, don’t start increasing your trade size quickly. Users usually have this reaction and invest all their winnings, thinking that they will continue to earn and eventually lose most of it. A balanced investment is the key to success.
Business model: minimum deposit of $150 (€100). 1:200 maximum leverage, monthly reward of 10 commission-free deals. After the 10 commissions spent, each commission ranges from 1.95 ($, €, £) + 0.05% to 1.95 + 0.08%.
15. StockTwits
StockTwits is different from all the other trading apps on this list. This is a great stock and social media and market tracking app for both new and experienced investors. This platform plays the role of Twitter for stock traders and connects like-minded users all over the world. You can use it to build your credibility, meet other traders and share your experiences.
How it works: Users share posts, organize streams, tag others, and can even connect their StockTwits and Twitter account.
Cool Features: Featured Stocks, Major Markets, Market Sentiment, Feeds. The Heat Maps feature finds the best performing stocks in certain sectors and presents a chart with all the data collected.
User Tip: In addition to being able to connect StockTwits to your Twitter account, you can also connect it to Fidelity, Robinhood, and Scottrade accounts and stay updated on the latest watchlists.
Business model: free app with no hidden payments or commissions.
Risk Warning of Trading Apps
80.6% of retail investor accounts lose money when trading CFDs with this provider. You should ask yourself if you can afford to take the high risk of losing your money.
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