Updated: October 06,2022
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Are you looking for the best apps to buy and sell stocks? You’ve come to the right place. We’ve conducted our research and narrowed down the most suitable stock trading apps for every consumer. We ranked them according to various critical factors, including;
And much more.
With our detailed review, you should find the best trading app to use.
No fees
Easy to use
Supports fractional share purchases
One of the best mobile trading apps, Robinhood was founded in 2013 and currently has over 20 million registered users.
The Robinhood platform lets you trade a broad range of stocks for no fees or derivatives for low fees. It also enables you to trade cryptocurrencies and manage your bills with a custom debit card.
Robinhood lets you buy shares, ETFs, and has options with no commissions. You can also trade cryptocurrencies with it, though only two; Bitcoin and Ethereum.
There’s no maximum trading limit on the app, and you can also trade on margin, i.e. borrowed money. However, we advise only professional traders to do so.
Robinhood lets you buy fractional shares with any dollar amount you want to invest. This feature is helpful for traders with small capital.
As most top trading apps, the platform insures user deposits through the Securities Investor Protection Corporation. It covers up to $500k of securities for each user, including $250,000 in cash claims.
Here’s the deal:
You may contact the company directly through email, social media, or an in-app request-to-call service 24/7.
The request-to-call option alerts the trader app to assign a customer support representative that’ll call you back within an hour. The company rolled out this feature in 2021, showing signs of improving its customer service.
Robinhood is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulation Authority (FINRA). These government agencies represent users’ interests and have previously fined Robinhood tens of millions of dollars for non-compliance.
User deposits on Robinhood are insured for up to $500,000 by the U.S. Securities Investor Protection Corporation (SIPC). It covers registered securities and includes cash claims of up to $250,000.
For in-app security, Robinhood has standard features such as two-factor authentication.
No trading fees
Allows IPO investing
No account minimum
One of the best share trading apps, SoFi, started as a student loan provider before branching out into other services. The app has nearly 3 million registered users.
SoFi is an all-in-one digital banking app that lets you buy or sell stocks, amongst other features. You can invest in stocks at will or take advantage of its robo-advisor service for no fees.
SoFi is an app for stocks, ETFs, and cryptocurrencies. It has around 30 cryptocurrencies listed on its platform, much more than rival trading apps. You can also trade on margin with the SoFi app.
One feature differentiating SoFi from the rest is access to certified financial advisors. They can guide you to trade the proper way.
In addition, the platfrom lets you invest in upcoming IPOs and secondary share offerings.
SoFi has dedicated Android and iOS mobile apps.
The app has:
The trader app offers customer support through email, live chat, or telephone 24/7.
Live chat or phone provides instant answers, while email inquiries typically receive responses within 24 hours.
Note that only validated users can contact through live chat.
All SoFi Invest users have their deposits insured by the Securities Investor Protection Corporation (SIPC). It covers deposits of up to $500,000, including a $250,000 limit for cash claims.
Before you start trading on SoFi Invest, you must verify your identity with a government-issued document. This is a requirement for every broker app serving American customers.
The SoFi app uses several tools to protect users against theft, including two-factor authentication and SSL encryption. With 2F enabled, every new login requires you to accept a code to your phone and email address.
SoFi Invest is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
No spot trading fees
Large asset selection
Ample educational resources
Charles Schwab is one of the oldest broker-dealers in existence, founded in the 1970s. The company launched its online trading platform in 1995, long before the likes of Robinhood and SoFi. Today, it’s one of the most popular stock apps, with over 33 million accounts.
Charles Schwab is a trading app with sophisticated features. It lets you buy or sell stocks, bonds, options, mutual funds, ETFs, and many other financial instruments.
Charles Schwab offers more sophisticated features than most options.
For example, you can get short stocks or buy derivatives based on them. The app supports multiple account types, including the standard brokerage ones, retirement and trust accounts.
This stock trader app provides automated investing to help users invest the right way. This service is free for users with at least $5,000 of assets on the platform. The app also supports fractional share investing.
Most trading apps we mentioned are restricted to U.S. users only. However, Charles Schwab bucks the trend and is available in over 30 countries.
Now let’s discuss the important stuff:
And many more across the globe. Note that there’s a minimum requirement of $25,000 to open an individual or joint account for non-U.S. residents.
You can contact Charles Schwab through email, phone, or live chat 24/7. The response times are okay; a few minutes wait on phone and live chat or within 48 hours for email.
In the event of broker-dealer failure, all security deposits on Charles Schwab are insured by the Securities Investor Protection Corporation (SIPC). Commodity interests and cash in futures accounts aren't protected by SIPC.
As most trading apps, Charles Schwab has many features to protect your account. For example, identify verification, automated alerts, and two-factor authentication. You can also use Voice ID authentication for easy yet secure access.
Charles Schwab is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC). It has subsidiaries in other countries (e.g., China), adhering to local regulators.
Free stock and options trading
Supports crypto trading
Mobile-first approach
Webull is one of the most popular free stock trading apps. It lets you buy stocks and exchange-traded funds, options, and cryptocurrencies without paying commissions. The company is Chinese-owned.
Webull is a mobile-first electronic trading platform allowing self-directed or automated investing. The app has over 14 million registered users, including nearly three million monthly active ones.
Webull lets you trade through a well-designed, easy-to-use mobile app. You can buy stocks, ETFs, and options for no commissions or cryptocurrencies for low fees. The platform has just four cryptocurrencies available:
Webull provides a real-time market data feed to help you analyze the markets to make the proper trades. However, it requires a monthly subscription fee. The app also lets you generate portfolio and fee reports to monitor your trading activities.
The shares app gives a free, albeit small, stock bonus to every new user who signs up.
Here’s what you need to take into account:
Webull provides customer service through email and telephone. Email inquiries typically receive feedback within 48 hours. Telephone support could be slow if many customers are on the line.
There’s also a detailed FAQ page on its website that could be of good help.
Webull’s customer service is available on weekends, an advantage over rival free trading apps.
Webull is a member of the Securities Investor Protection Corporation (SIPC), which insures customer deposits of up to $500,000. It also has a private insurance policy covering up to $150 million of aggregate deposits.
The platform has robust security features to protect users from fraud, including two-factor authentication and 128-bit encryption for sensitive information.
Webull is a registered broker with the U.S. Securities and Exchange Commission (SEC). It's also a member of the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange (NYSE), NASDAQ, and Cboe EDGX Exchange.
Free/low trading fees
Advanced features
Robust financial analysis tools
Fidelity is one of the best mobile trading apps. It debuted in 1995, making it one of the oldest. Since 2019, Fidelity bowed to industry pressure and stopped charging commissions for stock trades.
Fidelity is an advanced trading platform that lets you trade stocks, currencies, bonds, options, commodities, and many other financial instruments. It’s suitable for expert traders with significant capital.
Fidelity is an advanced app for trading that offers sophisticated features.
For example, you can build custom watchlists of stocks to follow and get automated alerts about them. You also real-time quotes and a newsfeed, and access to live brokers to help you place trades.
In addition, you can use the extensive learning materials available. They include articles, videos, webinars, and infographics.
In 2019, Fidelity stopped collecting commissions for trades on its online brokerage. It’s a versatile platform for professional traders to make the most of their expertise.
Here’s the deal:
Note that Fidelity has minimum deposit requirements depending on your type of account.
|
Account Type |
Minimum Deposit |
|
Basic account |
$0 |
|
Margin account |
$2,000 |
|
Day trading |
$25,000 |
Fidelity provides customer support through live chat, telephone, or email. Email inquiries typically get feedback within one business day. Telephone or live chat support is mostly quick, but there could be long wait times off and on.
All Fidelity brokerage accounts are protected by the Securities Investor Protection Corporation (SIPC). There's also additional coverage from private insurers like Lloyd’s of London.
This shares app has many security features to protect your account, including;
Fidelity is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It has a long and trusted track record than many competing trading apps.
Active online community
Low fees
Available in many countries
TradeStation may not be as popular as the other apps we’ve mentioned, but it’s nonetheless a good app to buy stocks with. It's a licensed stockbroker founded in the 1980s with a long and trusted track record. Its parent company, Monex Group, is listed on the Tokyo Stock Exchange.
TradeStation is an online trading platform with access to:
It doesn’t charge commissions for stock and ETFs trading for U.S. residents. People from other countries pay a $5 flat fee for every stock or ETF trade.
TradeStation lets you buy stocks, ETFs, cryptocurrencies, and certain derivatives. There’s free trading, but only for U.S. residents. International customers have to pay trading fees. The app supports just four cryptocurrencies; Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.
TradeStation lets you invest in upcoming IPOs and secondary share offerings. This feature is worthwhile for retail investors to get first-hand access to new listings. The app supports multiple account types, including individual & joint, retirement, and business.
One feature that makes it maybe best stock app to use is that it lets you earn money from stock lending. Lending shares to short-sellers can be a practical way to earn investment income.
TradeStation has dedicated Android and iOS mobile apps along with a web-based interface.
This is what the platform offers:
TradeStation has a minimum deposit, depending on your account type.
|
Account Type |
Minimum Deposit |
|
Cash account |
$1 |
|
Margin account |
$2,000 |
|
Day trading |
$25,000 |
|
Futures |
$5,000 |
And many more across the globe.
TradeStation provides customer support through email, live chat, or telephone. Phone or live chat is pretty reliable. Email inquiries usually get replies within 1-2 business days.
All TradeStation equities accounts are protected with SIPC insurance.
TradeStation incorporates many features to protect users from compromise, including;
TradeStation is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
No commissions
Supports fractional share purchase
Automated investing
Cash App is a mobile payments app developed by Block, Inc. It allows you to send and receive money or invest in stocks and cryptocurrencies. It’s one of the well-known stock buying apps in the U.S.
Cash App has the ideal features for a casual, passive investor. However, sophisticated investors are better served by other apps. For example, it doesn't support margin trading or account types outside the standard, taxable, self-directed brokerage account.
The Cash App lets you buy or sell shares without commissions. However, the number of stocks available on its platform is pretty limited. Also, the app lets you trade just one cryptocurrency, Bitcoin.
Because of its limitedness, this stock exchange app is best suited for casual traders. People who want to make the most of investing are best suited for other apps.
It’s special feature is that it supports debit card deposits to your trading account. Most apps we mentioned only support bank transfer deposits.
Here are your options:
Trading fees
Cash App provides customer support through the app or a telephone line.
The app has a help page to contact support directly. If that doesn’t work, you can call them instead.
The company is a member of the Securities Investor Protection Corporation (SIPC). The SIPC insures every customer's security deposits for up to $500,000, including $250,000 in cash.
Cash App has multiple features to protect your account, including;
Cash App is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Easy account opening
Great educational resources
No account minimum
Ally is one of the good stock market apps available. It’s a full-stack digital banking app, with investing (Ally Invest) as one of its features.
Ally Invest is a self-directed online trading and automated investing platform. It lets you trade stocks and ETFs for no commissions. You can also buy or sell bonds, options, futures, mutual funds, and other types of securities for relatively low fees.
Ally Invest lets you trade US-listed stocks and ETFs without commissions. You can also trade currencies, i.e. forex. The app supports margin trading.
The stock trader app offers automated investing with no advisory fees or annual charges. It also allows tax-loss harvesting to minimize capital gains tax exposure. It has dedicated Android and iOS mobile apps along with its web-based interface.
The platform takes:
Ally provides customer support through email, phone, or live chat 24/7.
Ally Invest is a member of the Securities Investor Protection Corporation (SIPC), covering customer claims up to $500,000. It also has additional private insurance for securities and cash up to an aggregate of $150 million.
It has numerous features to protect your account, including;
Ally Invest is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Supports multiple investment strategies
Supports multiple account types
Cost-effective
Acorns is one of the well-known stock purchasing apps marketed to millennials. It specializes in micro-investing and robo-investing and has amassed over 8 million users. The company manages over $4 billion for its users.
The special thing about Acorns is that it’s available on a subscription basis. For $3 to $5 a month, you can save spare change from your purchases and invest it in stocks. Acorns’ focus is on automated investing for users rather than self-directed trading.
Acorns focuses on automated investing and managing money for users rather than self-directed trading. You can use the app to build diversified portfolios of low-risk investments. It also supports environmental, social, and governance portfolios.
Acorns support recurring investments, letting you put in as little as $5 per day to build a portfolio. If you need help, you can get investment advice from a dedicated support team.
The stocks exchange app also includes a checking account you can utilize.
Fees include:
Acorns does not charge any trading fees. The monthly subscription covers all that.
Acorns offers customer support through email, phone, or live chat 24/7. You can select live chat from the app or submit a ticket to the dedicated customer support email. Telephone service is also available 5am-7pm PST, seven days a week.
Acorns is a member of the Securities Investor Protection Corporation (SIPC), so any deposit of up to $500k is safe.
There are standard security features to protect your buy-stocks app account, including;
Acorns is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Superb educational resources
Outstanding customer support
Advanced features
E-Trade is one of the best brokerage apps available. It offers an advanced electronic trading platform to trade stocks, bonds, options, mutual funds, and many other forms of securities. It’s one of the oldest brokerages alive, founded in the early 1980s.
E-Trade is a trading platform with advanced features. Since 2019, it stopped taking commissions for U.S. stock, ETF, and options trades. The app is owned by Morgan Stanley, a leading investment bank.
The platfrom has advanced features for adept traders. It supports multiple account types, such as custodial and tax-advantaged individual retirement ones (IRAs). You can access streaming quotes, news, and charts right from the app.
E-Trade includes a tool that lets you scan for unusual market activity. Identifying unusual activity can help you make profitable strategic moves within the market.
One feature that puts it among the best stock apps is that it lets you trade over-the-counter penny stocks. Most trading apps don’t offer that.
Stocks, ETFs, and options - $0
Margin - 7.8% average
E-Trade offers customer support through phone, email, or live chat 24/7. Phone or live chat is mostly swift, while email inquiries receive feedback within a day.
The standard SIPC protection (up to $500k) covers all E-Trade users.
E-Trade has strict measures to protect users from fraud, including;
E-Trade is a registered brokerage with the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
We’ve given you a rundown of the ten best apps for stock trading, but you can’t use all of them. You have to choose one or two that’ll serve you best as you trade. Here are seven essential factors to consider before selecting a trading app;
The most critical factor for choosing any trading app. The trading/non-trading fees you’ll pay have much sway in your investing activities, especially for retail investors. Try to pick the platform with the lowest ones possible without sacrificing quality or ease of use.
You should strive to pick a platform that’s easy to use according to your trading knowledge and experience. For example, a beginner should pick simpler apps like Robinhood or SoFi. The more advanced ones like Fidelity and Charles Schwab are suitable if you’ve gained significant trading experience.
Not all stocks trading apps offer access to the same equities markets. For example, Robinhood mainly offers U.S. and European stocks, while Fidelity provides access to many foreign stocks. If you’re the type that loves to trade globally, ensure you choose an app that allows it.
It’s essential to pick an app that’s regulated by strict governmental authorities, such as the U.S. SEC or FINRA. Any option that adheres to rigid regulations will likely avoid shady practices or risk getting blown up. Government agencies regulate all the apps we’ve mentioned, so you’re safe with any of them.
Security is a paramount factor to consider. Avoid any app with a track record of lax security practices so you don’t fall victim to fraud. Look for ones with stringent security measures, e.g., two-factor authentication, voice identification, e.t.c.
You may run into difficulties at times that require contacting customer service. Look for good reviews and many options to contact the staff.
Trading is a time-sensitive activity where a few seconds could determine your profitability. The top app for shares trading should have a good track record of reliability
Every beginner investor should take note of certain factors to help them maximize their trading activities. They include:
You may have heard the saying “Don’t put all your eggs in one basket.” It applies very much in this case. Try to spread your investment across many stocks to lower the risks. This way, you don’t lose much money if one dips.
Every individual has distinct levels of financial risk tolerance. Evaluate yours thoroughly before buying any equities so that possible losses don’t give you unnecessary anxiety.
Determine the appropriate level of capital you want to invest as a beginner. The rule of thumb is to invest any amount you can lose without getting into financial difficulties. Remember that trading is a risky activity, and there’s a significant risk of losses no matter how knowledgeable you are.
Everything that glitters isn’t gold. Many scam artists try to take advantage of newbie investors by promoting specific stocks and promising huge returns. Ask critical questions and consult third-party, unbiased sources for opinions before investing.
Take the time to research any stock you want to purchase. Publicly-traded companies have earnings reports and many mandated disclosures. You should thoroughly read through these disclosures to form your opinions before investing.
We’ve ensured to give an honest review of the ten top stock trading apps we could find. With this information, picking the right one should be easy for you. We’ve also provided some guidance on investing in stocks as a beginner. We hope the detailed information we’ve given helps you a lot.
We think Robinhood is the best trading app for beginners. It doesn't charge commissions for stock trading and has a simple and easy-to-use interface. The app contains just the basic features.
Many trading apps have no fees, including;
And many more. In other words, most of the stock trading apps we’ve highlighted charge no fees.
The most secure trading apps are usually the older ones like Etrade, Fidelity, and Charles Schwab. Their platforms are more sophisticated and implement more robust security measures.
Deyan Georgiev
Deyan has been fascinated by technology his whole life. From the first Tetris game all the way to Falcon Heavy. Working for TechJury is like a dream come true, combining both his passions – writing and technology. In his free time (which is pretty scarce, thanks to his three kids), Deyan enjoys traveling and exploring new places. Always with a few chargers and a couple of gadgets in the backpack. He makes mean dizzying Island Paradise cocktails too.
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