5 Best Stock Trading Apps For Beginners
Knowing how to start investing can be intimidating and challenging, but it doesn’t have to be. Gone are the days of calling your financial advisor to place an order to purchase stocks.
Thanks to technology, buying and selling stocks has never been easier. As a bonus, most brokerage firms have even done away with commissions. Here are the best investing apps for beginners.
Robinhood: Investing for All
Robinhood is probably most known for being tech-savvy and shaking up the entire stock trading industry by becoming the first commission-free stock trading app. They were the first to charge zero dollars per trade. This forced competitors to do the same.
The easy-to-use and intuitive design make Robinhood a top choice for beginners and pros alike. Placing a trade is straightforward and uncomplicated. There are no account minimum requirements.
You’re able to trade stocks, ETFs, and options all commission-free. Robinhood offers live support 24/7, extra security tools like two-factor authentication, and protection for your holdings up to $500,000. It’s safe, easy, and free.
E*TRADE: Invest. Trade. Save.
E*TRADE is an oldie but a goodie. It was one of the first online trading brokers, making it reliable and trustworthy. Traders can trade stocks, ETFs, and options commission-free.
There is no minimum amount you need to deposit. E*TRADE offers built-in portfolios designed by its own financial advisors. These portfolios consist of mutual funds and ETFs, both great options for anyone new to investing.
The app has access to streaming quotes and charts. You can also stream Bloomberg TV live and chat with customer support right from the app.
Webull: Investing & Trading
Like its competitors, Webull offers commission-free trades on stocks, ETFs, and options. It’s Robinhood’s largest competitor. Like Robinhood, it has a sleek interface that’s more than technically adequate.
It offers in-depth advanced research and technical analysis to help decipher market trends and information. These additional features come at a cost of $2.99 per month.
Webull is great for new traders that are looking to be active traders in the future. It’s a place where you can grow your portfolio using the charting software and extensive analytical tools.
Fidelity Investments
Fidelity is an all-in-one financial app with zero fees. You can deposit checks, pay bills, track spending, and trade stocks all in one place. Plus, Fidelity has been around for over 75 years.
There are zero fees and you can start trading with as little as one dollar. You’re able to trade stocks, ETFs, and mutual funds using industry-leading research and market analysis.
Fidelity has Touch and Face ID along with two-factor authentication for state-of-the-art security. The app offers 24/7 customer support.
Acorns: Invest Spare Change
Acorns focuses mainly on micro-saving. If you’re looking for an app to help you invest spare change, this is it. Most recently Acorns added the ability to invest for retirement, open a checking account, and even set up investment accounts for your kids.
Basically, your purchases get rounded up and then deposited into a savings account. You can then invest your money however you choose.
Acorns has a $0 minimum investment, but it includes fees for its services starting at $1 per month.
Ready, Set, Invest
There are all kinds of things to consider when investing. You’ll need to determine your investing approach and how much you want to invest. But you don’t have to wait to start. Most of the apps don’t have a minimum so you can begin investing today.
The internet has revolutionized trading, and investing apps are bringing a new generation investors to the stock market. You can be one of them.
