Best Stock Trading Apps November 30, 2023

Best Stock Trading Apps. The best stock trading apps can vary based on user preferences, features, and geographical availability. As of my last training data in September 2023, several apps were widely recognized for their performance and user-friendly features in the realm of stock trading. Here are some of them, but please note that the status and features of these apps might have changed since then, and there might be new players in the market:

Table of Contents

Best Stock Trading Apps

1. Robinhood

Features: Commission-free trades, fractional shares, options trading.
Pros: User-friendly, no minimum account balance.
Cons: Has faced regulatory scrutiny.

2. **E*TRADE**

Features: Extensive research, various investment options.
Pros: Advanced trading platforms, educational resources.
Cons: Higher fees for low-volume traders.

3. TD Ameritrade

Features: Diverse investment options, advanced trading platforms.
Pros: Comprehensive research tools, no account minimum.
Cons: Platform can be complex for beginners.

4. Webull

Features: Commission-free trades, extended trading hours.
Pros: Robust technical analysis tools.
Cons: Limited customer support.

5. Fidelity

Features: Broad investment options, extensive research.
Pros: No account minimums, excellent customer service.
Cons: Platform can be overwhelming for new users.

6. Charles Schwab

Features: Diverse investment options, robust research.
Pros: Comprehensive investment offerings, no minimum balance.
Cons: Some advanced features require a separate platform.

7. Acorns

Features: Automated investing by rounding up transactions.
Pros: Great for beginners, automatic investing.
Cons: Monthly fee, limited investment options.

8. SoFi Invest

Features: Active and automated investing, fractional shares.
Pros: No commission fees, educational content.
Cons: Limited track record, basic analysis tools.

9. Cash App

Features: Peer-to-peer money transfers, Bitcoin & stock investing.
Pros: Simple to use, no minimum balance.
Cons: Limited features compared to specialized trading apps.

10. Ally Invest

Features: Self-directed or managed portfolios.
Pros: Competitive pricing, no account minimums.
Cons: Less research available.

Note:

Always check the most recent reviews and updates on these platforms as they frequently update their offerings and features.
Ensure that the platform you choose complies with the regulatory requirements of your country or region.
Be mindful of the risks associated with trading and investing in the stock market.

Feel free to ask if you need more specific information about any of these apps or if you’d like to know about other platforms!

Robinhood

Overview: Robinhood is a financial services platform that aims to democratize finance for all. It’s known for offering commission-free trades of stocks, ETFs, and options through a simple, user-friendly app.

Features:

Commission-Free Trading: Robinhood allows users to trade stocks, ETFs, options, and cryptocurrencies without paying commissions.
Fractional Shares: Users can buy fractional shares of stocks with as little as $1, making it possible to own pieces of companies that may have high per-share prices.
Cash Management: Robinhood offers a cash management feature, which allows users to earn interest on uninvested cash.
Extended Trading Hours: Robinhood allows users to trade during extended hours (pre-market and after-market).
Instant Deposits: Robinhood Instant allows users to access deposited funds (up to $1,000) immediately without waiting for the standard deposit clearing period.
Educational Resources: The platform provides articles and resources to help users understand trading and investing concepts.

Pros:

User-Friendly: The platform is known for its simple and intuitive interface, making it easy for beginners to start trading.
Accessibility: The absence of trading fees and the ability to buy fractional shares make investing more accessible to people with less capital.
Mobile and Web Platforms: Available on iOS, Android, and web, providing flexibility in how users access their accounts.

Cons:

Limited Investment Options: Compared to some other brokers, Robinhood offers fewer investment products.
Customer Service: Some users have reported difficulties accessing prompt and effective customer service.
Regulatory Issues: Robinhood has faced scrutiny and fines from regulatory bodies, raising concerns among some users and potential investors.
Advanced Tools: While user-friendly, the platform may lack the advanced research and analysis tools that more experienced traders might seek.

Regulatory and Security Issues: Robinhood has faced various regulatory and security challenges. For example, they have been scrutinized for their handling of the “meme stock” trading surge in early 2021, and they have faced fines from regulatory bodies for various issues related to their trading practices and disclosures.

Note:

It’s important to research thoroughly and consider your investment strategy and risk tolerance before choosing a trading platform.
Always check the most recent updates and reviews about the platform as the features and regulatory status may change.
Make sure to check the availability of the platform in your region, as not all platforms are available in all countries.

Feel free to ask if you’d like more detailed information about any specific aspect of Robinhood.

E*TRADE

Overview: E*TRADE is a well-established online trading platform that provides a wide range of financial services, including investing in stocks, bonds, mutual funds, and other investment vehicles. It is known for its robust set of tools, educational resources, and comprehensive investment options.

Features:

Variety of Investment Options: Stocks, bonds, mutual funds, ETFs, options, futures, and more.
Trading Platforms: ETRADE offers a few different platforms, including Power ETRADE, which is designed for advanced traders, and E*TRADE Web, which is more suitable for everyday investors.
Research and Tools: Access to comprehensive data, analytics, and various research tools to help investors make informed decisions.
Educational Resources: A substantial library of educational materials and a community for investors to learn more about trading and investing.
Retirement Planning: Tools and resources to help plan for retirement, including various IRA options and advice.

Pros:

In-depth Research: Provides comprehensive research tools and insights.
Multiple Platforms: Offers platforms suitable for both novice and experienced traders.
Educational Content: Extensive educational resources for investors of all levels.
Customer Service: Known for providing solid customer service, including 24/7 phone support.

Cons:

Fees: While E*TRADE offers commission-free trades on stocks, ETFs, and options, other investments and services might come with fees.
Complexity: The advanced tools and multiple platforms might be overwhelming for beginners.

Note:

E*TRADE can be suitable for both beginners and experienced traders due to its robust offering of resources and platforms. Beginners can benefit from the educational content, while experienced traders might appreciate the advanced trading platforms and comprehensive research tools.
Always conduct thorough research and consider your investment strategy and risk tolerance before selecting a trading platform.
Ensure to check the most recent updates and reviews about the platform, as features and other aspects may have changed since my last training.
Confirm the availability and compliance of the platform in your region, as availability can vary.

If you have any specific queries or need further details about E*TRADE, feel free to ask!

TD Ameritrade

Overview: TD Ameritrade is a widely recognized and comprehensive online brokerage that caters to investors of all levels. It offers a robust platform with a variety of tools and resources to help users make informed investment decisions. TD Ameritrade provides access to a wide array of investment options, including stocks, bonds, ETFs, mutual funds, options, futures, and more.

Features:

Investment Options: Extensive offerings including stocks, ETFs, mutual funds, options, futures, forex, and more.
Trading Platforms: Multiple platforms cater to different trading needs: thinkorswim (advanced), web platform (user-friendly), and mobile apps.
Research Tools: Comprehensive research and analysis tools, including access to third-party research.
Educational Resources: A vast library of educational materials, webcasts, and workshops to help investors learn more about trading and investing.
Customer Support: Offers multiple channels for customer service, including phone, chat, and email.

Pros:

Versatile Trading Platforms: Provides platforms suitable for both novice and experienced traders.
Extensive Research: Offers a wide range of research tools and access to third-party research to inform investment decisions.
No Minimum Deposit: No minimum deposit requirement for opening a standard account.
Comprehensive Educational Content: A wealth of resources available to help investors at all levels improve their knowledge.

Cons:

Platform Complexity: The advanced platform, thinkorswim, can be complex for beginners to navigate.
Fees: While there are no commissions for online stock, ETF, and options trades, there may be fees for other services and investment options.

Note:

TD Ameritrade is recognized for its versatility, providing tools and platforms that cater to both beginners and experienced traders. Its comprehensive educational content is also a significant plus for those looking to enhance their investing knowledge.
Ensure to conduct thorough research and consider your investment strategy and risk tolerance before selecting a platform.
Always check for the most recent updates and user reviews about the platform as features and other aspects may have changed.
Make sure to verify the availability of the platform in your location.

If you require more specific information or details about TD Ameritrade, feel free to ask!

Webull

Overview: Webull is a mobile-first trading platform known for its commission-free trading and advanced trading features. It caters to both novice and experienced traders by providing a user-friendly interface alongside a suite of analytical tools and charts. Webull offers a range of investment options, including stocks, ETFs, options, and cryptocurrencies.

Features:

Commission-Free Trading: Webull offers commission-free trading on stocks, ETFs, and options.
Advanced Trading Tools: The platform provides various charts, data, and analytical tools that can be particularly useful for more advanced traders.
Extended Trading Hours: Webull allows users to trade during extended hours, providing access to the markets from 4:00 AM to 8:00 PM EST.
Fractional Shares: Webull supports investing in fractional shares, allowing users to purchase a portion of a stock that might be too expensive to buy outright.
Cryptocurrency Trading: Webull allows users to trade a variety of cryptocurrencies.
Paper Trading: A feature that allows users to practice trading with virtual money, which can be particularly useful for beginners.

Pros:

No Minimum Deposit: Webull does not require a minimum deposit to open an account (though certain account types and features may require a minimum balance).
Robust Analytical Tools: Offers advanced traders a range of charts and analytical tools for thorough market analysis.
User Interface: Provides a user-friendly interface that can be customized according to user preferences.
Educational Resources: Webull offers various educational materials to help users understand trading and investment strategies.

Cons:

Customer Support: Some users have reported that customer support can be difficult to reach or slow to respond.
Complex for Beginners: While it offers robust tools for advanced traders, beginners may find the platform a bit complex to navigate initially.

Note:

Webull aims to strike a balance between being accessible to newer traders and providing advanced tools for more experienced investors. However, the breadth of analytical tools and data may be overwhelming for beginners.
Always make sure to conduct thorough research and consider your investment strategy and risk tolerance before choosing a trading platform.
Ensure to check for the most recent updates and reviews about the platform as the features and other aspects may have changed since my last training.
Confirm the availability of the platform in your region, as not all platforms are available in all countries.

If you need specific information or have any questions about Webull, feel free to ask!

Fidelity

Overview: Fidelity Investments is a comprehensive and widely-used trading platform that offers a diverse array of investment options and resources. Known for its robust research offerings and a broad range of investment options, Fidelity caters to investors of all types, from beginners to advanced traders.

Features:

Wide Investment Range: Offers a variety of investment options, including stocks, bonds, ETFs, mutual funds, and more.
Robust Research Tools: Provides comprehensive research resources and analysis tools, including access to data from various markets.
Educational Resources: Offers a wide array of educational content, including articles, videos, webinars, and infographics to help investors at all levels.
Retirement Planning: Provides resources and tools for retirement planning, including various account types and robo-advisor options.
Mobile App: Fidelity has a user-friendly mobile app that allows users to trade, manage their accounts, and access research materials on the go.

Pros:

Extensive Research: Known for providing one of the most comprehensive sets of research tools and resources in the industry.
No Minimum to Open Account: There is no minimum deposit requirement to open a brokerage account.
Quality Customer Service: Fidelity is recognized for its customer service, providing support through various channels, including phone, live chat, and email.
Robust Educational Content: The platform offers a wide range of educational materials suitable for beginners and experienced investors alike.

Cons:

Platform Navigation: Some users find the platform’s extensive options to be a bit overwhelming and the interface somewhat complex to navigate, particularly for beginners.
Trading Fees: While many trades are commission-free, some trades, especially involving broker assistance, come with fees.

Note:

Fidelity is renowned for its broad investment offerings and solid research capabilities, making it a strong choice for investors who want to dive deep into market data.
Ensure to conduct thorough research and consider your investment strategy and risk tolerance before selecting a trading platform.
Always check the most recent updates and reviews about the platform as features and other aspects may have changed since my last training.
Confirm the platform’s availability and regulatory compliance in your region.

If you would like more specific information or have further questions about Fidelity, feel free to ask!

Charles Schwab

Overview: Charles Schwab is a major brokerage with a comprehensive platform that serves investors of all types and levels. It offers a wide range of investment options, extensive research resources, and notable customer service, making it a favored platform for many investors.

Features:

Diverse Investment Options: Access to a wide range of investment products, including stocks, bonds, ETFs, mutual funds, futures, options, and more.
Robust Research Tools: Comprehensive research offerings, including proprietary and third-party market analysis and data.
Educational Resources: A vast repository of educational materials, including articles, videos, webinars, and tutorials for investors.
Trading Platforms: Multiple trading platforms cater to different user needs, including StreetSmart Edge (advanced) and Schwab.com (user-friendly).
Customer Service: Noteworthy customer support available through various channels, including phone, chat, and in-person at branch locations.

Pros:

No Account Minimum: There is no minimum deposit requirement to open an account.
Extensive Research and Tools: Offers a wide array of research materials and trading tools.
Customer Support: Known for providing solid customer service, including 24/7 phone support.
Wide Investment Selection: Provides access to a broad selection of investment options.

Cons:

Platform Complexity: Some users may find the advanced trading platform, StreetSmart Edge, to be complex and challenging to navigate.
Fees: While many trades are commission-free, there can be fees and commissions associated with certain trades and account types.

Note:

Charles Schwab is recognized for its customer service and broad investment offerings, making it a solid choice for both beginners and experienced investors.
Ensure to conduct thorough research and consider your investment strategy and risk tolerance before selecting a trading platform.
Always check for the most recent updates and reviews about the platform as features and other aspects may have changed since my last training.
Verify the availability and compliance of the platform in your region.

If you have any specific queries or need further details about Charles Schwab, please let me know!

Acorns

Overview: Acorns is a micro-investing app designed to make investing easy and accessible for beginners. It automatically invests your spare change by rounding up your everyday purchases to the nearest dollar and investing the difference into a diversified portfolio.

Features:

Round-Ups: Acorns rounds up your everyday transactions to the nearest dollar and invests the spare change.
Automated Investing: Users can also set up recurring daily, weekly, or monthly investments.
Portfolio Options: Offers a range of portfolio options designed by experts and based on your risk tolerance.
Educational Content: Provides simple, straightforward educational content geared toward novice investors.
Retirement Account Options: Offers Acorns Later, a retirement account option where users can start an IRA.

Pros:

Easy to Use: User-friendly app designed for beginners and casual investors.
Automated Investing: Makes investing automatic, helping users save and invest without thinking about it.
Low Minimums: Allows users to start investing with spare change, reducing barriers to entry.
Found Money: Partners with brands that will invest a percentage of your purchase back into your Acorns account when you shop with them.

Cons:

Fees: Monthly fees might be high relative to small account balances.
Limited Control: Not for those who want to actively manage their investments since Acorns automatically invests in predetermined portfolios.
Limited Investment Options: Does not offer the ability to invest in individual stocks or bonds.

Note:

Acorns is particularly well-suited to novice investors and those looking for a hands-off, automated investment approach. It’s also popular among users who struggle to save money as it makes saving and investing seamless and automatic.
Always conduct thorough research and consider your investment strategy and risk tolerance before selecting a trading platform.
Ensure to check for the most recent updates and user reviews about the platform as features and other aspects may have changed since my last training.
Confirm the availability of the platform in your region.

If you need additional details or have further queries about Acorns, feel free to ask!

SoFi Invest

Overview: SoFi Invest is an investment platform that caters to beginners and young investors, providing a user-friendly interface and various tools to assist in making informed investment decisions. SoFi offers both automated and active investing options without requiring management fees or minimum balances.

Features:

Automated Investing: SoFi can create and manage a portfolio for you, taking into account your financial goals and risk tolerance, without management fees.
Active Investing: Offers a platform for users who prefer to actively manage their investments, with access to stocks, ETFs, and cryptocurrency trading.
Fractional Shares: SoFi allows users to invest in fractional shares, enabling them to purchase a portion of a stock or ETF with as little as $1.
Educational Resources: Provides a variety of educational materials to help users understand investment and personal finance concepts.
Financial Planning: Access to certified financial planners to answer questions and assist with financial planning.

Pros:

No Minimum Investment: Allows users to start investing with a small amount of money and offers fractional shares.
No Management Fees: SoFi does not charge management fees for its automated investing service.
User-Friendly: The platform is designed to be straightforward and easy to navigate, particularly for beginners.
Comprehensive Financial Platform: In addition to investing, SoFi offers a range of other financial products, such as loans, insurance, and cash management accounts.

Cons:

Limited Investment Options: May not offer as many investment options or as much depth in research tools as some other platforms.
Customer Service: Some users have reported issues with customer service responsiveness and effectiveness.

Note:

SoFi Invest can be a good option for beginners and those seeking a straightforward platform for both automated and active investing without needing a large sum to start.
Always ensure to conduct thorough research and consider your investment strategy and risk tolerance before choosing a trading platform.
Always check the most recent updates and reviews about the platform as features and other aspects may have changed since my last training.
Confirm the availability and regulatory compliance of the platform in your region.

If you have any specific questions or need further details about SoFi Invest, feel free to ask!

Cash App

Overview: Cash App, developed by Square Inc., started as a peer-to-peer payment app but has expanded to offer additional financial services, including investing in stocks and cryptocurrencies. It’s known for its simplicity and ease of use, making it particularly popular among younger users and beginners in investing.

Features:

Peer-to-Peer Payments: Allows users to send and receive money easily using their phone.
Stock Investing: Enables users to purchase stocks with as little as $1, supporting fractional shares.
Cryptocurrency Investing: Allows users to buy, sell, and hold various cryptocurrencies, including Bitcoin.
Cash Card: Offers a customizable debit card that users can use to spend their Cash App balance.
Boosts: Provides discounts when using the Cash Card at certain merchants or for specific purchases.

Pros:

Simplicity: Known for its straightforward, user-friendly interface.
No Minimum Balance: Allows users to invest in stocks and Bitcoin with as little as $1.
Versatility: Provides a range of services from peer-to-peer payments to investing.
Accessibility: Offers an easy entry point for beginners in stock and cryptocurrency investing.

Cons:

Limited Investing Options: The platform doesn’t provide as many investing options or as much depth in research tools as more specialized trading platforms.
Customer Support: Some users have reported issues with getting timely and effective customer support.
Fees: There are fees associated with some services, such as sending money using a credit card or withdrawing Bitcoin.

Note:

Cash App can be a good option for those who want a simple and easy way to start investing in stocks or Bitcoin, or for those who want a range of financial services in a single app.
It’s important to conduct thorough research and consider your investment strategy and risk tolerance before choosing a platform for investing.
Always check for the most recent updates and reviews about the platform as features and other aspects may have changed since my last training.
Ensure to verify the availability of the service in your region.

If you have more specific questions or need additional information about Cash App, please let me know!

Ally Invest

Overview: Ally Invest is the investment platform branch of Ally Financial, a company known for its online banking services. Ally Invest appeals to a wide range of investors by offering both self-directed and managed portfolio options. It provides a range of investment choices, including stocks, bonds, ETFs, options, and more.

Features:

Self-Directed Trading: Offers a platform for investors who prefer to manage their own portfolios, providing access to a range of investment options.
Managed Portfolios: Provides a robo-advisor service for users who prefer a hands-off investment approach, with automated portfolio management based on user’s risk tolerance and goals.
Research and Tools: Access to various research tools, market data, and insights to inform investment decisions.
No Account Minimums: No minimum deposit requirement to start self-directed trading.
Options Trading: Provides a platform for options trading with analytical tools and insights.

Pros:

User-Friendly: Known for its straightforward, easy-to-use platform suitable for beginners.
Versatility: Offers both self-directed and managed portfolio options to cater to different investor preferences.
Competitive Pricing: Provides competitive pricing, with commission-free trades for U.S. stocks and ETFs.
Integration: Seamless integration with other Ally services, such as Ally Bank, providing a unified customer experience.

Cons:

Research Tools: While it offers various research tools, some users might find them less comprehensive compared to those on other platforms.
Customer Service: Some users have reported mixed experiences with customer service responsiveness and effectiveness.

Note:

Ally Invest is suitable for both beginners and experienced traders due to its user-friendly platform and a range of investment options.
Always conduct thorough research and consider your investment strategy and risk tolerance before choosing a trading platform.
Ensure to check for the most recent updates and reviews about the platform as features and other aspects may have changed since my last training.
Confirm the availability and regulatory compliance of the platform in your region.

If you need more specific information or have further questions about Ally Invest, feel free to ask!

Best Stock Trading Apps FAQs

Frequently Asked Questions (FAQs) About Stock Trading Apps

1. What is a stock trading app?

A stock trading app is a platform that allows users to buy, sell, and manage their investment portfolio through a mobile application or web platform. These apps can offer various features, such as market research, portfolio management, and different investment options like stocks, ETFs, and more.

2. How do I choose the best stock trading app for me?

Choosing the best stock trading app involves considering factors like:

User-Friendliness: How easy it is to navigate and use the platform.
Investment Options: The range of available investment choices.
Fees: Costs associated with trading and maintaining an account.
Research Tools: Availability and quality of research resources.
Customer Support: The availability and quality of customer service.
Security: How well the platform protects user data and investments.
Regulatory Compliance: Whether the app complies with local and international regulatory standards.

3. Is my money safe with stock trading apps?

While many trading apps are secure and regulated by financial authorities, it’s crucial to research and use platforms that adhere to regulatory standards, employ robust cybersecurity measures, and are transparent about their security protocols. However, it’s essential to note that investing always comes with risks, and the value of your investments can go up or down.

4. Can I lose money by investing in stocks?

Yes, investing in stocks involves risks, and you may lose all or part of your investment. The stock market can be volatile, and the value of stocks can fluctuate significantly. It’s vital to understand these risks and invest money that you can afford to lose.

5. How do I start investing with a stock trading app?

Typically, you would start by:

Creating an Account: Sign up and create an account on the platform.
Verification: Verify your identity by providing the necessary documentation.
Deposit Funds: Add funds to your account using one of the available deposit methods.
Choose Investments: Select stocks, ETFs, or other investments and buy them through the app.
Manage Portfolio: Keep track of your investments, and buy/sell as needed.

6. Can beginners use stock trading apps?

Yes, many stock trading apps are designed to be user-friendly and cater to beginners. Some platforms provide educational resources, easy-to-navigate interfaces, and even practice (paper trading) accounts to help beginners get started.

7. What are commission-free trades?

Commission-free trades mean that the platform does not charge a fee for executing trades (buying or selling assets). However, it’s essential to read the fine print as there may be other associated fees or certain conditions to qualify for commission-free trading.

8. What is a robo-advisor?

A robo-advisor is an automated platform that creates and manages a diversified portfolio for investors, based on their risk tolerance and investment goals. Robo-advisors use algorithms to invest your money in a selection of assets without manual intervention.

9. Can I invest in international stocks through trading apps?

Some trading apps allow users to invest in international stocks, either directly or through various funds or ETFs. The availability of international markets may depend on the platform and your location.

10. Do stock trading apps offer retirement accounts?

Some stock trading apps offer options for retirement investing, such as Individual Retirement Accounts (IRAs). Availability might depend on the platform and your geographical location.

Feel free to ask if you have any more questions or need further details on any of the points above!