Download Best Trading Apps Platform
If you want to start trading stocks, we have some good news. Not only have virtually all major brokerage firms abolished commissions on stock exchanges, the process of buying and selling stocks is easier than ever before. The big reason is that there are excellent commission-free stock trading apps that allow you to trade stocks and much more.
In this guide, we'll share some of our favorite free stock trading apps from top stock brokers, as well as a few things to consider when deciding which is best for you.
1. TD Ameritrade
Best for: diversified travel investing
TD Ameritrade is not only a free trading app, it is one of the best we have come across. The combination of TD Ameritrade's application capabilities with highly regarded customer service, a range of investment instruments, a variety of account types, and best-in-class trading platforms explains why the broker is the best choice to consider. However, this does not mean that the TD Ameritrade adapts to everything. For example, investors looking to invest in fractional stocks or cryptocurrencies will need to look elsewhere.
Read: Voyager Exchange
Best for: Useless trading in stocks and options.
Robinhood is a user-friendly trading app that allows you to trade stocks, options and cryptocurrencies (including Bitcoin). Robinhood users have access to a cash management feature that allows you to earn interest on your cash balances, while the premium version of the $ 5 / month Robinhood Gold platform allows you to earn $ 1,000 interest-free margin and access Morningstar stock market research reports. One of the stand out features is the $ 0 option commission and no contract fee. Even many of the best option brokers charge a contract fee, but Robinhood doesn't.
There are some downsides, however. In particular, there are several educational tools or advanced trading tools. There are also no mutual funds or IRAs. All of this suggests that Robinhood is geared towards traders rather than long-term investors.
3. SoFi Invest
Best for: Investors who want access to other financial products as well.
SoFi Invest offers both active investment services (stock trading) and automated investing (robo-consulting). It also allows investors to trade cryptocurrencies. Unlike several other technology focused investment applications, SoFi offers traditional and Roth IRAs. The best part - all these features (borrowing, saving, investing and more) are available through one highly rated app.
One of the main differentiators is that SoFi, which stands for Social Finance, is designed to be a comprehensive financial community. In addition to the investment platform, the SoFi app also offers personal loans, mortgage loans, private student loans, credit cards and high-yield savings accounts.
4. E * TRADE
Best For: An easy-to-use platform for average traders and an advanced app for active traders
E * TRADE gets high marks from our experts as a one-stop shop for most things an investor needs in a trading application. In fact, E * TRADE supports two applications: the regular E * TRADE application and the Power E * TRADE application intended for active traders. Both applications are free.
Users of the regular E * TRADE app receive an easy-to-use app that gives them access to most of the features an average investor would expect: an intuitive platform for trading, account management, news, and stock market research and reviews.
If you are an active trader, you will want to choose the more advanced Power E * TRADE app. This app provides real-time technical stock analysis, advanced options trading features, futures trading, and excellent charting capabilities. Looking at the app store reviews, it seems there may be some technical issues with the Android app which seem to be less of a problem on iOS so perhaps this should be taken into account.