Stock trading apps are mobile applications that allow you to trade stocks and manage your portfolio at any time.
Investors who trade daily or infrequently can use these apps. In my experience, the best stock trading apps facilitate the transfer of funds from your bank account to your brokerage account without being too complicated and have features that assist you in achieving your goals. These apps have low fees and let you trade a variety of assets.
Do you plan to make trades frequently? When you are building a portfolio that grows over time, the cost of an individual trade is less relevant.
Here are the five best stock trading apps available today. Let’s have a look:
1.SoFi Invest: Best for The Beginners
SoFi, short for Social Finance, is the best stock trading platform for smartphone traders. It is a US-based stock trading app that offers a convenient mobile app for financial and investment services. It is a user-friendly app; thus, it is a real asset for beginners who aim to learn about stock trading.
SoFi’s app is somewhat limited compared to its competitors, but I think the limitations make it more accessible and easier for those with minimal money market experience. You can open taxable accounts and retirement accounts through SoFi, but the offering is limited. However, stocks, cryptocurrencies, and ETFs have a significant presence. The company’s stock bit product, Stock Bits, lets you buy fractional shares with no fees.
The stock trading section of the SoFi app provides information on supported investments, including fundamentals and current price charts. For beginners, that’s the best way to learn about trading stocks; they can browse the stock market and get ideas on investing and earning.
SoFi also has a useful Automated Investing feature. You can choose the app to build and manage a portfolio for you, with no management fees to worry about!
Pros of SoFi
- No commissions on stocks or ETFs and low fees
- Trade fractional or full shares easily
- There are no withdrawal fees
Cons of SoFi
- The tradeable assets are limited
- Stocks are only available in the United States
- Research materials are limited
Trading stocks and ETFs online is free. Managing self-directed portfolios and managing retirement accounts is supported.
- Offers loan products and cash management accounts
- It offers stock learning and practice tools all in one app.
2.Stash: A US-Friendly Stock App
Stash is the best stock trading app if you’re based in the US and are looking for a trading app to trade stocks. Stash supports the trade of several assets like ETFs and Roth IRAs. With Stash, you can choose to have your dividends automatically reinvested.
Fees for the app do apply every month. It depends on your account type. Standard accounts start at $1 per month, and custodian accounts start at $9 per month.
With the Stash app, you can buy fractional shares, which are popular with new investors. Buying a full stock is not necessary. It is up to you how much money you invest. A value-based investment component is also included in the Stash stock app. Essentially, you can fully control how your money is spent with Stash, regardless of what industry or sector you invest in.
Stash is a stock app with a good usability score. You can easily navigate around the app thanks to its clear design and organization. In general, you won’t face any problems when buying and selling stocks through the Stash app.
Pros of Stash
- Deposits are not required
- Fractional stock is available
- The ability to invest in over 1,200 stocks & ETFs
- The best trading platform for beginners
- Android and iOS versions are available
Cons of Stash
- Depending on the account type, fees range from $1 to $9 per month.
- It does not support instant deposits with credit/debit cards or e-wallets.
Key Features of Stash
- The availability of fractional stocks is commendable.
- The site offers a wide range of educational materials.
The M1 Finance app is an incredible app to trade stock. The M1 Finance app is available for Android and iOS. Through a convenient web interface, you can also access M1 Finance on your desktop. In contrast to other Robo-advisors, M1 Finance allows you to take full control over your investments.
The M1 trading platform offers automated investment features so you can design your portfolio. M1’s investment platform allows you to choose between individual stocks, low-risk ETFs, or a combination of both.
With M1, you use an investment pie system. Slices of a Pie can represent 100 different investments, including ETFs, stocks, and other Pies. Upon creating your Pie, your investment will be automatically made according to your selection.
The trading fees on M1 are completely free. There are no maintenance fees, no trading commissions, and no up-charges for deposits or withdrawals. You must pay the charge for account termination under different criteria ( If you terminate your retirement account early and if you are inactive for 90 days and more with a low balance. )
Pros of M1 Finance
- Has fractional shares
- Deposits are not required
- Managing portfolios without direct involvement
Cons of M1 Finance
- Day trading is not recommended
- Charges for inactivity
- A mutual fund can’t be traded.
Key Features of M1 Finance
- Using Smart Money Management, you can borrow (if you have $10,000) and spend via your checking account and debit card.
4.Charles Schwab: Best for Broad Range of Account Types
Trading your stocks with Charles Schwab is an amazing experience. Charles Schwab is an amazing app to trade stocks for all types of active stock traders. Your balances, positions, and accounts are easily accessible through our mobile app. In addition to viewing markets and news, you can research stocks and enter various trade types.
Your account doesn’t require a minimum balance or recurring fees. There are several types of investment accounts and investment types available for you to choose from. With the app, you can trade stocks both as a beginner and as an expert. Furthermore, Schwab provides an automated adviser, Schwab Intelligent Portfolios, that is free of charge.
The Schwab Assistant, a new feature, lets you use voice commands to make trades, get quotes, and set alerts. Additionally, the assistant helps you by answering questions about investments.
Pros of Charles Schwab
- No commissions on trades
- Trading and investing on a global scale
Cons of Charles Schwab
- Most traders don’t consider this app to be among the best.
Key Features of Charles Schwab
- You can use voice commands for trading.
- You can get a fee-free assistant to ask stock-related questions.
5.Fidelity – Best Stock App for Investors
Fidelity is the best app available for you if you are a new one in the stock market and are looking forward to a long-term and retirement investment in stock. The app is available for Android, IOS devices, and Amazon devices.
It is a full-service, with a wide range of account and investment types supported. With no minimum stock deposit and ETF trades requirements, you get a huge variety of services at the lowest cost. Fidelity has amazing, easy to learn features and an intuitive screen popular among the newbies in stock trading.
In addition to offering large investment accounts and options for investors of all experience levels, Fidelity stands out as an excellent option for the long-term investors seeking out long-term goals such as retirement. There are various products available to investors, including fractional shares.
Fidelity offers tools and apps to help you reach your retirement goals and other long-term plans, in addition to common tools that allow you to research and trade stocks.
In Fidelity Spire, an app you can use to reach the goals you’ve set, the app urges you to save and invest properly while reaching your goals.
Pros of Fidelity
- Zero cost active trading
- Trade and invest features that cater to most traders’ needs
- Supports multiple account types ( Brokerage, retirement, education accounts, etc.)
- Resources for research and education
Cons of Fidelity
- Lesser advanced charting options
- Trading and research at low costs
- Trades and performance can be tracked with intuitive screens
- Social media-style information feed containing custom-tailored investments and accounts
Perks of Using the Stock Trading Apps
The stock trading apps allow you to buy and sell stocks from your smartphone. The brokerage firms support free stock apps. Thus, online brokerage sites and stock market apps are virtually equivalent in this sense. However, stock investing apps differ because you can trade stocks through your mobile device using stock trading apps; there’s no news of sitting at your desktop.
Now, you might ask how to choose the best stock trading app? Listed below are some advantages of installing a stock trading app on your phone. How do they benefit me? Please have a look:
Investing Last Minute
How would you feel if you missed an opportunity to trade stocks because you weren’t at your desktop? A trading app eliminates this problem. You can trade easily from anywhere with your mobile phone. So, there’s no point in missing any trading opportunity when you have a mobile app for trading stocks.
If you were to trade stocks via brokerage firms, you wouldn’t be able to see every minute change in stock prices while you are not in front of your desktop. With a mobile application, you will not miss a chance to trade stocks. If a stock price falls drastically, you can save your loss by quickly logging in to your account on your mobile app.
Instant Funding Trading Account
With the mobile application to trade stocks, you can instantly load and unload cash into your account. This saves time and gets you rid of tedious payment methods. You can use easy payment methods like pay via debit card, credit card, or your e-wallet.
Global Market Access
Use a stock app, and don’t think you’re missing out on investing opportunities. However, you’ll still be able to find the same assets on the desktop website of your brokerage firm. Consequently, you can access global stock markets around the clock.
Compliance with Regulations and Safety
When you are trading, your funds are always safe. The stock trading apps have secured logins. You can use safeguards like strong passwords, biometric login, and two-factor authentication.
In terms of stock trading apps, there are many options to choose from. Some companies provide beginner-friendly platforms, while others offer affordable fees. You should see an app that is easy to use, has a platform for beginners and advanced traders.