There’s no better time than now to get invested in the stock market. Fortunately, you don’t need to have tons of technical knowledge of the market to make it work for you. With a little basic knowledge and the right tools at your disposal, you can become a regular fat cat yourself.
Best Stock Trading Apps
We’ve rounded up some of the best stock trading apps available, listed below (in no particular order).
1. TD Ameritrade
TD Ameritrade is one of the more well-known names in the industry, and for good reason: it caters to the needs of beginners and long-time investors alike. Beginners will love the $0 commission fee per trade along with the $0 account minimum, so those on tighter budgets can enter the market with greater ease.
TD Ameritrade’s mobile app offers trading of assets like futures, mutual funds, and cryptocurrency. Besides tools that other competitors offer, such as real-time trading and price alerts, TD Ameritrade also grants its users access to a wealth of stock-related news and research, so you can make informed decisions quickly.
2. Charles Schwab
Charles Schwab offers not one but two apps–Schwab Mobile and StreetSmart Mobile–to help you break into the stock market with style. Schwab mobile offers a simpler layout that many consider to be more beginner-friendly while StreetSmart Mobile allows for greater customization to suit your portfolio’s needs.
This option is great for those who have a smaller starting budget. Charles Schwab offers its users the ability to invest in options that many of its competitors don’t offer, such as fractional shares (which, as the implies, is a less expensive portion of a larger single share). Even better, there is a $0 account minimum and no stock-trading fees.
3. SoFi Active Investing
SoFi Active Investing is for no-nonsense folks who want to trade on the go with a straightforward app. SoFi’s intuitive system allows for you to get started trading right away for as little as $1. Newcomers can expect $0 account minimums, $0 per-trade commissions, and perks like free career counseling.
Still not sold yet? SoFi is offering a limited-time promotion where you can win up to $1,000 worth of stock when you download their app and create an account. If you needed any extra push to enter the stock market, this is it.
E*TRADE is another big name in the business, once again for good reason. Beginners will appreciate the straightforward nature of the E*TRADE mobile app, along with the $0 account minimums and no stock-trading fees. Don’t just take our word for it, though; this app was rated the #1 online broker mobile app by Kiplinger. For those who want greater customization options, the Power E*TRADE mobile app is also worth exploring.
Robinhood is the app that’s been making headlines for its use by Redditors to drive up the prices of GameStop (and other companies’) stocks in response to hedge fund short selling. While the app has also received criticism for placing limits on certain stocks in response to this event, Robinhood is now easing up on those restrictions.
So, why should you choose Robinhood?
Well, there are plenty of reasons people have flocked to this app. For starters, there is a $0 account minimum, $0 commissions per trade, and new account owners can expect a one-new-stock promotion. Besides these perks, Robinhood also offers its users the ability to trade in real time with plenty of tools to manage their portfolios from the convenience of smartphones. When it comes to first-time trading on a budget, Robinhood is a great option to explore.
Disclaimer: this article should not be used as financial advice.