Mobile users now enjoy a wholesome trading experience using mobile stock trading apps. There has been a massive shift to mobile technologies, such that half of the 19 million software developers scattered across the world are invested in creating applications for mobile devices.
Mobile trading has also benefited from this development as mobile trading apps are no longer limited to maintaining a basic watch list or viewing a portfolio. Users can now make use of trade tools, cloud syncing, screeners, and detailed charting, among many other options.
Investors can now trade on their own using any of these apps. While some stock trading apps are more tailored to fit the needs of experts with automated investments, others are designed for beginners who are just learning the ropes.
Here is a review of the best stock trading apps you should try in 2020.
1. Robinhood
This is the best free stock trading app. Although it does not give its users access to investments like mutual funds, it works efficiently for ETFs and stocks. Interestingly, it also supports cryptocurrencies like Bitcoin.
With this app, you can either track stocks manually or place them on your watchlist. You can enter your trade into the app and purchase stocks without paying any trade fees. While it might not be able to beat some other apps on this list with regards to functionality, none other comes as close when it comes to free trades. Some investors might also be bought over by its simplified trading features.
2. TD Ameritrade
This is touted as the best stock trading app for so many reasons. To begin with, it offers two smartphone apps—TD Ameritrade Mobile trader (for active traders) and TD Ameritrade (for everyday investors).
The basic TD Ameritrade provides you with as much trading experience on mobile as you have on your desktop stock trading app. It is available on Windows, Android, and iOS platforms. The mobile trader app is a much more robust app with a richer trading experience.
Secondly, it is customizable. With the basic mobile app, you can customize your screens, transfer funds, dashboard, and get market alerts. You also get access to educational videos on how to trade. The mobile trader app is packed with technical indicators, charts, and analysis to enable you to make informed trading decisions on the go.
3. Stockpile
This is the best stock trading app for kids. With the app, you can give your kids single shares of stock or buy a very fractional amount with as low as $0.99 commission. With these sorts of fractional trades, you can buy a stake in companies with very high values, such as IT giants (Google, Microsoft, and Amazon). You can also invest in a small portion of a share with a minimal sum.
It is a great asset for families as it can be used to build interest in investments in the minds of kids and teens. Rather than let them be preoccupied with the TV or instant messaging at all times, you can educate them on money and the stock market using Stockpile. You can also encourage their interest by giving them a stock gift card.
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4. Fidelity Mobile
This stock trading app is heralded for its clean mobile design. It is entirely bug-free and provides a seamless experience for investors and stock market enthusiasts. It is easy-to-use, and its line-up of educational resources makes it a strong contender for the best stock trading app for beginners. It’s completely free, and ETF trades are one of its most significant selling points.
Besides, it does not accept payments for order flow, making it highly cost-effective for users when placing stock trades. It is, in fact, the only broker that gives users an inside view of the price improvements received on eligible orders.
5. Interactive Brokers
While it might not be an industry leader in casual investor offerings, Interactive Brokers is the best in the industry when it comes to low-cost trading for professionals. It has a vast market comprising 125 market centers scattered across 31 countries. With the app, professionals can make the most out of industry-leading commissions.
Conclusion
Due to an increase in smartphone users, desktop apps are now being redesigned for mobile users. Hence, apps that were initially only available for PCs are now available on Apple and Android stores.
The fact that business apps were the second-most popular app category on Apple’s App Store in November 2019 shows that there has been a shift in what people use their smartphones for. Smartphone users who are also stock trade enthusiasts might be interested to know that there are apps that can provide them with the rich trading experience they crave for. The above-listed are some of them.
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