Do you have questions about which one the best apps for investing are? The answer to that question will not ever have a single, definitive answer because it depends on your preferences and needs. In this article I gathered together information on some of the most popular stock market apps and written a few words on each. I hope this blog post is helpful and feel free to ask questions in the comment section below.
Table of Contents
Best Apps For Investing In Stock Market
Fidelity offers multiple mobile apps for Android and iPhone devices, with its investing app the primary offering for trading and everyday investing. Whether you’re doing your banking, transferring money between accounts, managing orders or placing trades, Fidelity’s investing app is excellent for everyday investors and in 2022 won our No. 1 Investor App award for the fifth consecutive year.
The app features streaming TV from Bloomberg, consistent with Fidelity’s Active Trader Pro desktop platform, in addition to a personalized feed, news headlines and research. Drawbacks: Charting is basic, and the app is not optimized for day trading or more demanding traders. The layout, however, is excellent; and with innovative features continually being added, users can also toggle to a Beta Experience for a more simplified version.
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What is the best free trading app?
The best free stock trading app is from ETRADE. Unlike most brokers, ETRADE offers two apps: ETRADE Mobile and the Power ETRADE app. ETRADE Mobile is designed for casual investors, while the Power ETRADE app is designed for the feature-hungry active trader. Both apps are top-notch.
Best trading app: ETRADE mobile ETRADE mobile watchlist ETRADE mobile advanced charting ETRADE mobile Earnings Move Analyzer E*TRADE mobile Snapshot P&L
How do I choose the best stock trading app?
Now that all stock apps offer $0 stock trades, we recommend comparing other features to choose the best stock trading app. The most widely used stock app features are watch lists, stock charts, and order tickets, so make sure those are great. To help readers, we include full screenshots of each stock trading app in our broker reviews.
Fun fact: Not all stock trading apps offer real-time streaming quotes. Instead, some apps only refresh stock quotes every few seconds or longer. Watch lists aside, apps like TD Ameritrade and TradeStation provide excellent stock chart tools and stock alerts functionality. Both brokers offer traders access to several hundred technical indicators in addition to endless customization options.
What is the best trading app for beginners?
For beginners in 2022, the best stock trading apps are ETRADE and TD Ameritrade. Between the two brokers, TD Ameritrade has the edge for educational resources and trading tools. Meanwhile, ETRADE stands out for ease of use.
ETRADE mobile account overview ETRADE mobile stock quote TD Ameritrade mobile watchlists TD Ameritrade mobile trade ticket
What apps let you trade stocks for free?
Many brokers today offer commission-free trading, also known as zero-dollar commissions. Our picks for the best apps for trading stocks for free come from the following brokers in 2022:
Fidelity – Fidelity mobile app for Android and iOS devices
Interactive Brokers – IBKR mobile and IMPACT app for Android and iOS devices
Charles Schwab – Schwab mobile app for Android and iOS devices
TradeStation – TradeStation mobile app for Android and iOS devices
TD Ameritrade – TD Ameritrade app and thinkorswim mobile for Android and iOS
ETRADE – ETRADE app and Power E*TRADE mobile app for Android and iOS
What is the safest stock app?
The safest stock apps come from the overall best and most trustworthy brokers. The following brokers offer the safest stock apps in 2022:
E*TRADE: Best stock app for traders
TD Ameritrade: Best app for options
Fidelity: Best stock app for investors
Interactive Brokers: Best for professionals
TradeStation: Great for tools and technology
The best apps allow login with biometrics (fingerprint or retina, for example) and other features such as two-factor authentication to reduce the chance of accounts being hacked.
Most importantly, a broker that has proper security measures across its websites, platforms and applications will have you covered in the event of a compromise.
What app gives you free stock?
Apps from brokers like Webull and Robinhood may give you a small amount of a stock of their choice — usually one or two shares — as a way to incentivize you to trade and invest, subject to certain terms and eligibility conditions.
Often the free shares will be given after you first open and fund a new brokerage account, or when you complete certain actions for the first time, such as linking your bank account.
What is the best stock trading app for iPhone?
Our thorough product testing of stock trading apps includes evaluation of iPhone functionality. Here are StockBrokers.com’s top choices 2022, alongside their user ratings from Apple’s app store:
ETRADE: ETRADE Mobile — user rating 4.6 stars | Power E*TRADE — user rating 4.5 stars
TD Ameritrade: TD Ameritrade Mobile — user rating 4.5 stars | thinkorswim app — user rating 4.7 stars
Fidelity: Fidelity mobile app for iPhone — user rating 4.8 stars
Interactive Brokers: IBKR mobile app — user rating 2.6 stars | IMPACT app — user rating 4.6 stars
TradeStation: TradeStation app — user rating 4.6 stars
What is the best stock trading app for Android?
StockBrokers.com thoroughly tests stock trading apps on both iPhone and Android devices. For 2022, these are our top picks for mobile functionality and ease of use, along with the apps’ user ratings on Google Play.
ETRADE: ETRADE Mobile — user rating 4.2 stars | Power E*TRADE — user rating 3.7 stars
TD Ameritrade: TD Ameritrade Mobile — user rating 3.5 stars | thinkorswim app — user rating 3.9 stars
Fidelity: Fidelity mobile app for Android — user rating 4.3 stars
Interactive Brokers: IBKR mobile app — user rating 3.2 stars | IMPACT app — user rating 4.4 stars
TradeStation: TradeStation app — user rating 3.7 stars
Can I start trading with $100?
Yes. Nowadays, most online brokers offer no minimum deposit to open an account, commission-free stock and ETF trades, as well as the availability of fractional shares. As a result, new traders can start trading with a small investment such as $100. To compare features and pricing, use our online broker comparison tool.
Best investing apps for beginners
Robinhood – Best app for active trading
Robinhood is the app to have if you like a smooth interface and avoiding trading commissions, whether you’re trading stocks, ETFs, options or cryptocurrency. You’ll get to do it all with no commission and using a slick mobile interface that makes smooth work of it all. The stripped-down app is simple to navigate, and after a while you’ll move intuitively from screen to screen as you trade the market.
You can access a stock’s page from a search bar at the top of the screen and then pull up charts and vital statistics. Also useful is a feed that aggregates stories from news and investing sites, so that you keep on top of what’s going on. After you’ve decided what you want to trade and enter the number of shares to buy or sell, swipe up and the order is on its way. (Here’s Bankrate’s full review.)
Reasons to get this app: You like trading stocks (as well as ETFs, options and cryptocurrency) for free and having a simple way to quickly do so.
Minimum balance required: $0
Fees: No commissions for stock, ETF, options or crypto trades
Charles Schwab – Best app for beginners
Charles Schwab does well for experts, but it’s also a great app for beginners, because of all the resources it provides. Schwab provides tons of research and education, helping newer investors get up to speed on topics such as investing and personal finance. It also offers fractional shares, meaning you can invest all your money into your stocks, rather than have idle investment money sitting around. And of course, you’ll get commission-free stock and ETF trades.
Schwab is also great for mutual fund investors, with more than 4,000 no-transaction fee funds, one of the largest selections in the industry. You’ll also get highly responsive customer service that gets your questions answered quickly. As if that weren’t enough, you’ll get one of the best sign-on promotions around, with a cash bonus that starts with just a $25,000 deposit.
Reasons to get this app: You like investing with a friendly company that starts off in the right direction and then helps you along the way.
Minimum balance required: $0
Ellevest – Best app for socially responsible investing
Ellevest is one of the top-ranked robo-advisors, but it’s also the top app for socially responsible investing. Ellevest’s mission is to help women investors make smart investing decisions (though, of course, anyone can become a client). It does so by creating investment portfolios and plans that take into account the differing circumstances of women, such as lower lifetime earnings.
Ellevest allows clients to build portfolios that incorporate up to 53 percent of their portfolio in ESG or social impact funds – what it calls its Impact portfolio. These funds invest in companies that have more women leaders, that support affordable housing and community services, and that have higher standards for sustainability. The Impact portfolio costs only modestly more than Ellevest’s low-cost core portfolio, just $13-$19 per year on average for every $10,000 invested.
Reasons to get this app: You want a socially responsible portfolio that can offer attractive returns and also makes it easy for you to invest.
Minimum balance required: $0
Fees: $1, $5, or $9 a month (or discounted annually)
What to consider when choosing an investment app
When it comes to investment apps, think about how you’ll plan to use them. Do you need an educational tool or are you looking to actually trade and invest? Some apps charge fees that can eat into your investment returns, while others have very low costs and offer commission-free trading. If you’re interested in trading things like cryptocurrencies, you’ll want to make sure that’s a feature offered by the app or broker – not all brokers offer crypto trading.
How much money should I plan to invest?
The good news for investors starting out today is that it requires very little money to get started. Fees are so low or even non-existent that you can start with virtually any amount of money. In fact, what you start with matters much less than your saving and investing discipline over time.
The key to achieving ongoing investing success is to add money regularly over time. So you’ll want to add cash to the account and keep investing in your positions regularly over time in order to build wealth.
How much you actually invest depends on your own financial situation and needs. And today’s low-fee brokerages and apps leave more money in your pocket to actually invest.
Are some apps better for investing than others?
Some apps provide special features or focus more on education, while others focus largely on executing trades. For example, Wealthbase is a great app for playing stock market games, but it won’t execute trades for you. In contrast, Wealthfront and Betterment will both invest your money for you, so you don’t have to do much but deposit money in your account.
And those apps differ from brokerage apps such as Robinhood, Charles Schwab and Fidelity Investments, where you need to know what you want to buy. These brokers also allow you to buy different securities, such as stocks, bonds, mutual funds and more. Robinhood and Invstr allow you to buy cryptocurrency commission-free, too.
So the investment apps can provide a variety of different features and benefits, and you’ll need to select which ones meet your needs.
Investment apps FAQ:
Can you use investment apps to trade stocks?
Some investment apps allow you to trade stocks and other securities, but that depends specifically on the kind of app and what it’s designed to do:
For example, brokerage apps such as Robinhood and Fidelity Investments allow you to buy stocks and ETFs.
Other apps such as those from robo-advisors Wealthfront and Betterment will buy stock funds and create a portfolio on your behalf.
Still other apps such as Wealthbase and Invstr allow you to learn about investing or play investing games.
So the ability to buy stocks with an app depends on the app itself.
Is the money I use to trade on investment apps insured?
If you’re investing money in the market, then it’s not insured and you could lose some or all of your investment. Market-based assets include stocks, bonds, mutual funds, ETFs, options and cryptocurrency. These kinds of assets fluctuate over time, meaning you could make a lot of money or lose a lot, depending on how the market swings.
If you need a highly safe asset, you’ll need to turn to guaranteed accounts such as a traditional savings account, high-yield savings account or CD at an FDIC-insured bank. These accounts insure your money up to $250,000 per account type per bank.
Let us know your thoughts in the comment section below.