Best Apps For Stocks

Best Apps For Stocks

Stock market investing can be intimidating, but it doesn’t have to be. With the right tools and the right information, you can make smart decisions and make your money work for you. We want to help you do that!

In this post, we’ll walk through some of the best apps for stocks so you can get started on your investing journey today.

Many investors in the US will now use a top-rated stock app in conjunction with an online brokerage account. In doing so, this allows you to buy and sell stocks no matter where you are, and thus – you’ll never miss a trading opportunity again.

In this guide, we compare the 10 best stock app providers for 2022 in terms of supported markets, fees, user-friendliness, trading tools, customer service, and more.

Best Stock Trading Apps for Beginners in 2022
A list of the best stock app providers in the market right now can be found below.

eToro – Overall Best Stock App for 2022
Webull – Popular Stock App Offering $5 Fractional Shares
Interactive Brokers – Advanced Stock App for Seasoned Investors
Schwab – Buy 0% Commission Stocks via an iOS and Android App
Fidelity – Trusted Stock App With $1 Minimum Order
SoFi – User-Friendly Stock App Offering Commission-Free Markets
Ally Invest – Great Stock App for Newbie Traders
E*TRADE – Stock App Supporting Multiple IRAs
TD Ameritrade – Top-Rated Stock App for Experienced Traders
Robinhood – Best StockApp for Beginners
When considering where to buy stocks for your financial goals and skillset, consider reading our in-depth reviews – which you will find in the subsequent sections of this guide.

Best Stock Trading Apps Reviewed

Nowadays the best stock trading platforms provide access to a convenient stock trading app. To compile our list of the best stocks apps for 2022 – we considered a range of important factors. This includes everything from fees, commissions, and supported stock markets to user-friendliness, device compatibility, and the availability of trading tools.

Check out the 10 reviews below to choose the overall best stock app for you.

1. eToro – Overall Best Stock App for 2022

We found that eToro is a clear winner as the overall best stock app for 2022. Available to download free of charge on both iOS and Android devices, the eToro stock app gives you access to thousands of markets. Not only does this include the NYSE and NASDAQ, but more than a dozen stock exchanges based overseas.

Ever wondered how to buy dividend stocks without spending a fortune? This covers stocks listed in the UK, Canada, Germany, Hong Kong, Spain, Saudi Arabia, and more. As such, eToro is a highly suitable stock app for those wishing to buy both US and foreign-listed equities. With such an array of markets to choose from including the best meme stocks, best cheap stocks, best blockchain stocks, best dividend stocks and the best cannabis stocks.

You’ll also have access to the best oil stocks in 2022 such as Exxon-Mobil and BP. If you’re wondering how to buy oil stocks with low fees via a safe trading platform, then eToro is one of the most popular stock brokers on the market.

In addition to stocks, the eToro app also supports cryptocurrency, ETFs, forex, commodities, indices, and more.

When it comes to fees, the eToro trading app allows you to buy stocks and ETFs on a commission-free basis. And, not only is this the case for US-listed markets but international assets, too. We also like that you only need to risk $10 when you buy stocks on the eToro app – as the brokerage firm supports fractional shares across all listed markets.

etoro review
In terms of user-friendliness, the eToro app – just like the main website, is very easy to use. And, when you know which stocks you wish to buy, it’s just a case of using the search bar. You might also want to check out the copy trading feature offered by the eToro app. This allows you to copy a verified eToro investor – of which there are thousands to choose from.

When your chosen investor places a stock trading position, the same order will be replicated in your own eToro portfolio. For passive investors, you might also like eToro smart portfolios. These are pre-bundled investment portfolios that are managed by the eToro team and they track specific markets and industries – such as tech, driverless cars, and energy.

To get started with the eToro app today, you will need to register an account and make a minimum deposit of just $10. Supported payment methods include debit and credit cards, Paypal, Skrill, Neteller, ACH, and bank wires. As a US-based customer, you won’t need to pay any fees. Finally, the eToro app is heavily regulated – so safety and security are assured.

Minimum Deposit $10
Fractional Shares? Yes – $10 minimum
Pricing System 0% commission on all stocks
Cost of Buying Amazon Stock Spread only
Pros

Available around the world including in the US and UK
Thousands of US and international stocks listed
0% commission on all stocks
Invest in the best penny stocks and the best biotech stocks with low fees
Minimum deposit and stock trade is just $10
Copy trading and smart portfolios
No fees on USD deposits
Top-rated mobile app
Supports buying stocks via credit card

Cons

Not suitable for high-frequency trading

Visit eToro Now
Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull – Popular Stock App Offering $5 Fractional Shares
   webull logo

Webull offers a popular stock trading app that is fully optimized for both iOS and Android smartphones. There is no fee to download the Webull app, but you first have to register an account and upload some ID before you can start trading stocks. There is no minimum deposit and you can transfer funds via ACH or domestic bank wire.

Take note, while ACH transfers are free, domestic bank wires are charged at $8 and $25 for deposits and withdrawals, respectively. Once your Webull account is set up, you will then have access to thousands of US-listed stocks. This covers virtually all equities listed on the NYSE and NASDAQ.

webull review

Moreover, you will also have access to a small number of ADRs – which gives you exposure to large-cap stocks listed overseas. When it to fees, Webull allows you to buy US-listed stocks on a commission-free basis. ADRs, however, come with additional fees. We also like that the Webull trading app allows you to buy stocks from just $5 per trade via its fractional ownership tool.

On top of stocks, the Webull app also supports ETFs, cryptocurrencies, and options. Although most traders opt for a self-directed trading plan, Webull also offers a variety of retirement accounts in the shape of IRAs. The Webull app also offers a range of charting tools – which will suit short-term day traders looking to speculate on stock options.

As both Webull and eToro are at the top of the list you might be interested in our eToro vs Webull comprehensive review. By reading this comparison article you’ll find all the key metrics and details regarding fees, features, account types and more.

Minimum Deposit $0
Fractional Shares? Yes – $5 minimum
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

No minimum deposit
Minimum stock investment is just $5

Cons

International stocks offered via ADRs only
No copy trading tools
Does not support debit/credit cards or e-wallets

Visit Webull Now
Your capital is at risk.

3. Interactive Brokers – Advanced Stock App for Seasoned Investors
   interactive brokers review
   Interactive Brokers is one of the best stocks app providers in the market for seasoned investors. Its proprietary IBKR mobile app is compatible with both iOS and Android devices and it comes packed with advanced trading features.

This includes dozens of technical indicators, institutional-grade research tools, real-time market information, and over 50 data columns. Although the IBKR app is suited to advanced traders, it has been well designed – meaning that you won’t have any issues navigating around the platform to buy and sell stocks.

interactive brokers review
When it comes to supported markets, this is where Interactive Brokers really stands out. This is because you will have access to stocks in over 30 different countries. Moreover, in addition to stocks, Interactive Brokers supports everything from index funds, bonds, and ETFs to financial derivatives, gold, and access to upcoming IPOs.

We also like the Interactive Brokers stock trading app for its low fee policy. This is because when you buy or sell US-listed stocks, you won’t be charged any commissions. You will need to pay fees when buying non-US assets – so do check this before placing an order. Finally, Interactive Brokers does not have a minimum deposit requirement on standard self-directed accounts.

Minimum Deposit $0
Fractional Shares? Yes – $1 minimum
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Highly advanced trading platform
Thousands of stocks on offer

Cons

Interntional stocks are charged at a premium
Perhaps not suitable for beginners
Specialist accounts come with high minimum deposit requirements

4. Schwab – Buy 0% Commission Stocks via an iOS and Android App
   charles schwab reviewSchwab is an established US-based brokerage firm that allows you to trade thousands of assets in a low-cost environment. Although accounts take several days to open, once you are set up you can download the Schwab mobile app to your iOS or Android device and start trading stocks at 0% commission.

This is, however, only possible if your chosen stocks are listed in the US. If you decide to buy stocks that are listed overseas, then additional fees will apply. Nonetheless, we like the Schwab stock app for its user-friendly client interface, especially when it comes to placing buy and sell orders.

Schwab review
Although Schwab is often preferred by seasoned investors that wish to stake large sums of capital, the brokerage firm offers fractional share trading tools. And, this enables you to buy any stock that is listed on the S&P 500 from just $5 per trade. This means that you can buy Amazon stock and other expensive equities without needing to risk thousands of dollars.

Another core feature of the Schwab mobile app is that it gives you access to diversified portfolios at the click of a button. Its thematic stock lists cover a wide range of markets – such as active lifestyle, blockchain, cyber security, social networking, caffeinated drinks, and more. Finally, there is no minimum deposit at Schwab when opening a standard account.

Minimum Deposit $0
Fractional Shares? Yes – $5 minimum
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Buy fractional shares from just $5
Top broker for creating automated portfolios

Cons

Fractional shares only available on S&P 500 companies
Non-US stocks come with high fees
Platform can be overbearing for newbies

5. Fidelity – Trusted Stock App With $1 Minimum Order
   fidelity reviewOne of the best stock app providers in the market for those on a budget is Fidelity. This is because its Stocks by the Slice tool enables you to buy and sell US-listed stocks from just $1 per trading order. Once again, this is particularly useful when it comes to buying expensive stocks like Amazon.

In addition to stocks, the Fidelity app gives you access to dozens of other asset classes. This covers everything from bonds and ETFs to mutual funds and options. You can also access upcoming IPOs and sign up for a managed portfolio. With that said, the latter will come with higher account minimums depending on your chosen strategy.

fidelity review
Otherwise, there is no minimum deposit to meet when opening a standard self-directed account. We also like the Fidelity mobile app – which is available on both iOS and Android, for its retirement accounts. This covers Traditional, Rollover, and Roth IRAs. And, if you’re unsure which IRA is right for you, Fidelity offers a useful comparison tool.

The Fidelity app also gives you access to international stock exchanges, but each market comes with its own pricing structure. If you’re looking for a provider that offers high-level data and research reports, Fidelity is perhaps the best stock app for this purpose. Moreover, Fidelity also offers real-time financial news – so you can easily stay updated with core market developments.

Minimum Deposit $0
Fractional Shares? Yes – $1 minimum
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Stocks by the Slice tool allows you to buy shares from just $1
Thousands of financial instruments listed

Cons

High-level research tools are best suited for experienced traders
Financial planning accounts come with high minimums

6. SoFi – User-Friendly Stock App Offering Commission-Free Markets
   SoFi investSoFi is perhaps the best stock trading app for beginners. This trading app provider offers a variety of accounts – all of which give you access to thousands of US-listed stocks. SoFi also supports cryptocurrencies like Bitcoin and Dogecoin, alongside ETFs and access to upcoming IPOs.

When you buy stocks on the SoFi mobile app – you won’t be charged any trading commissions. Moreover, irrespective of which US-listed stock you decide to invest in – you only need to risk $5. When setting up your account, you won’t need to meet a minimum deposit. Moreover, verified accounts can typically be opened in under 10 minutes from start to finish.

sofi Schwab
SoFi is also popular with investors that wish to combine trading and banking services via a single app. This is because SoFi offers digital checking accounts and even loans, mortgages, and auto financing. We should also note that the SoFi app is extremely user-friendly, so even newbies will be able to buy and sell stocks without needing any prior experience.

Another popular feature offered by the SoFi app is its automated investing accounts. This is a diversified investment strategy that will initially require you to state your long-term financial goals. Then, the underlying algorithm will subsequently build a portfolio based on your objectives and risk tolerance.

Minimum Deposit $0
Fractional Shares? Yes – $5 minimum
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

One of the best stock apps for beginners
Offers 0% commission on US stocks

Cons

No support for international stocks
Too basic for seasoned investors
IPO allocation is limited

7. Ally Invest – Great Stock App for Newbie Traders
   Ally Invest review
   In many ways, Ally Invest is a direct competitor to SoFi. This is because the Ally Invest mobile app not only gives you access to a user-friendly investment suite – but also banking services and loans. As such, Ally Invest is a great option for those looking to consolidate all of their financial needs via a single hub.

Before we get to fees, it is important to note that Ally Invest does not support fractional shares. As such, if you’re looking to buy expensive stocks like Amazon or Tesla, then you will need to purchase a full equity. On the other hand, Ally Invest does at least support automated DRIPs, which enables you to grow your portfolio via compound interest.

ally invest review
Nonetheless, we do like the Ally Invest app for its 0% commission policy on all supported stocks and ETFs. Fixed-rated bonds and mutual funds are also listed on the app – but these come with additional fees. Ally Invest also offers robo portfolio services, which allow you to build a diversified portfolio based on your financial goals.

And, the robot portfolio service at Ally Invest is managed and maintained on your behalf. This means that once you have made your initial investment, you can sit back and allow your money to work for you. Finally, the Ally Invest stock app also offers margin trading facilities – which can come in handy if you’re looking to amplify your investment capital.

Minimum Deposit $0
Fractional Shares? No – not supported
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Very user-friendly – ideal for beginners
Offers 0% commission on US stocks

Cons

No support for international stocks
Too basic for seasoned investors
IPO allocation is limited

8. ETRADE – Stock App Supporting Multiple IRAs ETRADE review
   If you’re thinking about building a long-term investment portfolio for your retirement years, then E*TRADE offers one of the best apps to invest in stocks for this purpose. Account options here include Beneficiary, Rollover, Roth, and Traditional IRAs. You can even open an IRA for your children.

With that said, ETRADE is also a good option if you’re simply looking to open a standard self-directed brokerage account. This is because there is no minimum deposit requirement and you will have access to thousands of commission-free US-listed stocks. Unfortunately, ETRADE does not allow you to buy fractional shares, so this should be considered before you sign up.

etrade review Nonetheless, we like the fact that ETRADE also allows you to buy assets outside of just stocks. This includes everything from options, futures, mutual funds, ETFs, bonds, and even access to IPOs. The E*TRADE mobile app also gives you access to managed portfolios, which are ideal for those of you that don’t feel comfortable picking your own stock investments.

If you’re interested in opening a managed portfolio plan here, you will need to invest at least $500. Furthermore, you will be charged a management fee of 0.30%. Financial advice is also available at ETRADE, but this will require a minimum capital outlay of at least $25,000. Finally, ETRADE also offers a range of investment guides that are aimed at beginners.

Minimum Deposit $0
Fractional Shares? No – not supported
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Great selection of retirement accounts
No minimum deposit and accounts take just 10 minutes to open

Cons

No fractional shares
Limited number of investment tools
Pre-built portfolios require a $500 investment

9. TD Ameritrade – Top-Rated Stock App for Experienced Traders
   td ameritrade review
   TD Ameritrade is perhaps the best tracking app in the market for experienced investors that seek high-level tools and features. This highly established brokerage firm is behind the popular trading platform thinkorswim – which is available through web browsers, desktop software, and a mobile app.

The latter is fully optimized for both iOS and Android devices. Once you download the TD Ameritrade app, you will have access to thousands of stocks, ETFs, and options markets. US-listed markets can be accessed on a 0% commission basis. International exchanges can also be accessed, albeit, this will be charged at a premium.

TD Ameritrade review
Take note – in a similar nature to Ally Invest and E*TRADE, TD Ameritrade does not support fractional trading – so you will need to purchase stocks in full increments. Nevertheless, we like the TD Ameritrade app for its in-depth market insights, third-party analyst reports, and access to key financial news.

Moreover, those of you with experience will appreciate the availability of technical indicators, chart drawing tools, and real-time pricing quotes. The TD Ameritrade app also enables you to create watchlists and receive alerts directly to your smartphone. Finally, although TD Ameritrade is aimed at seasoned traders, the app also comes with educational tools.

Minimum Deposit $0
Fractional Shares? No – not supported
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Highly advanced thinkorswim trading suite
Top-rated broker for seasoned investors

Cons

No fractional shares
Commission-free access to US-listed stocks online
Too advanced for beginners

10. Robinhood – Best StockApp for Beginners
    Robinhood review
    The final provider to consider from our list of the best stock broker app providers in 2022 is Robinhood. This top-rated investment app is used by millions of US-based clients for its simple interface and low-cost policy. Regarding the latter, Robinhood offers commission-free access to all supported markets.

Not only does this includes US-listed stocks, but also cryptocurrencies, options, and ETFs. Robinhood also offers a small number of ADRs, but additional fees apply. In terms of getting started, it takes just minutes to open a verified account with Robinhood. You won’t need to meet a minimum deposit and the provider allows you to trade from just $1.

robinhood review
As such, the Robinhood app will be of interest to those on a budget. The app – which is compatible with both Android and iOS operating systems, will limit you to $1,000 in instant deposits, with the rest being credited a few days later. With that said, at just $5 per month, the Robinhood gold account offers much higher limits.

Furthermore, the Robinhood gold account also gives you access to margin trading facilities and additional research tools. Although Robinhood is great for beginners, its mobile app is lacking when it comes to advanced trading and charting features. There is no option to engage in copy trading or managed portfolios, either.

Minimum Deposit $0
Fractional Shares? Yes – $1 minimum
Pricing System 0% commission on US-listed stocks
Cost of Buying Amazon Stock Spread only
Pros

Great option for first-time investors
No commissions charged on US-listed stocks, options, ETFs, or cryptocurrencies

Cons

Only offers international shares via ADRs
Standard accounts limit instant deposits to $1,000
No passive investment tools

Top Stock Apps Compared
For a complete overview of the 10 providers we reviewed above, check out our comparison table of the best stock market apps for 2022.

Stock Broker Minimum Deposit Fractional Shares? Pricing System Fees & Charges Features
eToro $10 Yes – $10 minimum 0% commission on ALL real stocks No Deposit fees, $5 withdrawal fee, $10 inactivity fee, no account management fees.
Social trading platform with over 20m users
Advanced copy trading
Professionally managed investment portfolios
Webull $0 Yes – $5 minimum 0% commission on US-listed stocks.
Regulatory Transaction Fee – Sells only.

$0.0000051 * Total $ Trade Amount

(Min $0.01)

Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Mulitple IRA accounts
Extended trading hours
Advanced charting tools
Interactive Brokers $0 Yes – $1 minimum 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Comprehensive report & analysis
Supports algorithmic trading
Wide variety of account types for retail & professional traders
Schwab $0 Yes – $5 minimum 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Helpful trading education resources
Streaming data, news, charting, and studies
Offers savings accounts and financial planning
Fidelity $0 Yes – $1 minimum 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Professional investing insights
Wealth management services
Real time alerts, news, and in-depth charting
SoFi $0 Yes – $5 minimum 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Supports automated investing
Member community with events and experiences
Real time news and curated content
Ally Invest $0 No – not supported 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Offers free automated investing accounts
Probability calculator, 8 chart types, watchlists
Securities income program for earning interest
E*TRADE $0 No – not supported 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Variety of managed portfolios
Detailed tutorials and videos
Powerful charting and risk analysis tools
TD Ameritrade $0 No – not supported 0% commission on US-listed stocks Zero deposit fees, ACH withdrawal fees, inactivity fees and no account management fees.
Access to independent third party research
Professional tools and idea generation
Integrate financial news for Yahoo
Robinhood $0 Yes – $1 minimum 0% commission on US-listed stocks Zero deposit fees, withdrawal fees, inactivity fees and no account management fees.
Cash card with weekly rewards
Great learning resources
Daily podcast and financial news
*at time of writing.

Visit eToro Today!
Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

How we Select the Best Stock App
If you’re wondering how we compiled our list of the best stock app providers for 2022 – we focused on a number of core metrics – which we discuss in more detail in the sections below.

Safety and Trust
All of the 10 stock apps that we reviewed on this page are approved to offer brokerage services to US clients.

And as such, you can choose any of these providers for your stock trading needs without needing to worry about the safety of your funds.

Supported Markets
Each and every stock investment app that we reviewed give you access to thousands of US-listed shares across the US’s two primary exchanges – the NYSE and NASDAQ.

In terms of international diversification, some of the stock investment app providers that we discussed do not give you access to foreign exchanges, while some offer ADRs.

best stock app 2022
On the other hand, we like eToro for its access to more than a dozen foreign exchanges – such as those based in Europe and Asia. Best of all, eToro enables you to buy international stocks at 0% commission – even if you’re based in the US.

Fees and Commissions
All of the stock apps discussed today allow you to open a standard self-directed account that is free to maintain. However, fees might come into play when you make a deposit.

For instance, bank wire deposits at Webull are charged at $8, so do bear this in mind if you’re looking to invest small amounts.

Another thing to note is that all the providers from our list of top stock apps for 2022 offer commission-free access to US-listed shares.

However, as noted above, all stock apps – apart from eToro, will charge you a commission when you elect to buy foreign stock.

Account Types
If you’re simply looking to buy and sell stocks in a casual manner, then you will likely be suited for a standard self-directed account. This means that you will be responsible for making your own stock picks.

With that said, many of the stock apps that we reviewed today offer a range of alternative accounts.
For example, at Webull, you can open a retirement account across a range of IRAs.
This can be a great option if you’re looking to build a long-term portfolio for your retirement years.
Moreover, many stock app providers also offer managed portfolios. For example, at eToro, the app gives you access to dozens of smart portfolios that are internally managed.

This means that eToro will regularly rebalance and reweight your smart portfolio to ensure that it aligns with the investment strategy that you chose.

Fractional Shares
The best stock trading apps for 2022 allow you to buy and sell fractional shares. Put simply, this means that you can purchase just a small fraction of one stock – which is particularly useful if you are on a budget.

For example, as of writing, Alphabet stocks are trading at just under $3,000 per share. However, if you were to use eToro for your stock trading requirements, you would only need to invest $10 into Alphabet.

Other brokers – such as Robinhood and Fidelity, have reduced the minimum share investment to just $1. However, this is only available on US stocks, while at eToro, its fractional tool can also be used on foreign-listed equities.

Invest in Fractional Shares
Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Alternative Assets
Seasoned traders will often look to hedge their stock investments with other asset classes.

As such, the best stock investing apps in the market also gives you access to index funds, ETFs, mutual funds, bonds, commodities, and more.

Just be sure to check what fees apply on non-stock and ETF investments, as brokers will often charge a premium for alternative assets.

Mobile Experience
Across the board, we found that the 10 providers from our list of the best online stock trading apps each offer a great mobile experience across both iOS and Android.

However, we did find that some stock apps are better suited for beginners, while others are aimed at those with prior trading experience.

best apps for stocks and shares uk

Until recently, the idea of managing your stocks and shares from your mobile device – in effect, having a dealing room in your pocket – would have seemed a fanciful notion.

But today’s smartphones are making this a reality. Private investors are increasingly using trading apps, not just to execute the occasional stock transaction, but to run entire investment portfolios.

Whether you’re new to buying shares or a seasoned stock market investor, here’s a look at the rise in trading apps and how to choose one to suit your needs.

Which trading app should I pick?
Keeping the amount that you pay to trade and invest to a minimum will end up boosting the returns made by your underlying investments.

But, as with so many decisions to do with our finances, when it comes to choosing a trading app, there’s no clear-cut choice that will suit everyone. Much of the decision will depend on what you are looking for from a service.

Aside from charges, there are a number of other considerations you need to bear in mind to get the most out of your trading app experience. These include:

How user-friendly do you find the app?
What investments do you want to trade? Shares, funds, or more sophisticated investments?
If you’re new to investing, does the app allow you to practise trading or trade virtually before taking the plunge?
Aside from trading costs, what other admin charges does the app impose?
Is there a minimum investment?
Can you use the app to trade tax-efficiently through a stocks and shares ISA?
Is your app regulated by the UK’s Financial Conduct Authority (FCA)?
Are there any extra benefits/rewards?
Trading apps for various scenarios
The trading app market is getting crowded. Here is a selection of apps that cover a range of scenarios, from novices to more sophisticated investors.

1) eToro – good for beginners and social
eToro describes itself as a “bridge between the old world of investing and the new” and claims to be “the only place where investors can hold traditional assets, such as stocks and commodities, alongside ‘new’ assets such as the cryptocurrency Bitcoin”.

The app offers a decent mobile experience and, along with several of its rivals, provides the added appeal of zero-commission trades.

1

eToro

Cryptocurrencies Available For Trade

60+

Fees (Maker/Taker)

1%/1%

Learn More
On eToro’s Website

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
eToro also allows users to follow and even copy the trades of legitimate investors with proven track records. FCA regulated.

Related: How To Buy Cryptocurrency

2) Freetrade – good for easy investing and guides
Freetrade’s basic service offers commission-free trading and provides access to large and mid-cap stocks in both the UK and US, as well as initial public offers (IPOs) and special purpose acquisition companies (SPACs).

It also provides limited access to a range of companies listed on the German, Finnish and Dutch markets.

Freetrade Plus costs users £9.99 per month but offers considerably wider investment choice including all other London-listed shares as well as access to all other European shares. FCA regulated.

1

FreeTrade

Choose from a wide range, covering ETFs, Investment Trusts & Stocks

6,000 stocks commission-free

Choose from thousands of listed stocks

London Stock Exchange, NYSE, NASDAQ and beyond

Learn More
On Freetrade’s Website

Your capital is at risk, please be aware the value of your investment can go down and you may get back less than you invest.
3) Fidelity Personal Investing – good for funds
Fidelity enables investors to choose from over 2,500 funds, as well as shares from the FTSE 100, FTSE 250, FTSE All-Share and FTSE AIM 100. Other available investments include investment trusts, exchange-traded funds (ETFs) and some Irish shares.

The service allows a user to link family members’ accounts to see everything in one place, while a Watchlist tracks the performance of up to 50 investments at any one time. FCA regulated.

4) Trading212 – good for practising trades using virtual money
Trading 212 offers unlimited commission-free trades with access to over 10,000 stocks and ETFs from the UK, US, Germany, France, Spain, Netherlands and other markets.

For those looking for more sophisticated investments, Trading 212 also offers over 3,000 contracts for difference (CFDs) on stocks, forex, gold, oil and indices.

Users can start with a free, lifetime practice account that uses virtual money. FCA regulated.

5) IG – good for more experienced investors
IG allows users to trade on more than 17,000 global markets, including shares, indices, options and commodities.

It features interactive charts, news, automatic trading alerts and real-time signals. Users can spread bet or trade CFDs on commodities, and options trading is available on various assets timed daily, weekly and monthly. FCA regulated.

Getting started
For those looking to invest via the stock market, the days of “calling one’s broker” are long gone.

Most investors who want to buy and sell shares, build a portfolio of investment funds or trade sophisticated instruments such as ‘contracts for difference’ now do so through an online dealing account.

Over the past two decades, investment platforms representing some of the biggest names in stockbroking and fund management have catered for this need, mainly with services aimed at a desktop or laptop-orientated customer base.

In the past couple of years, however, there has been a noticeable shift from desktop to mobile trading by private investors.

Two factors have helped accelerate this phenomenon. First, the evolution of increasingly powerful smartphones, and second, the rise in the number of share trading apps.

The figures are significant. According to analysts App Radar, there were an estimated 3.1 million Android downloads of the top 10 UK investment apps via Google Play Store in 2020/21.

App Radar doesn’t record iOS figures, which account for Apple users. But it says the split between Android and iOS downloads is about 50/50. Taking this into account, App Radar estimates that, overall, there are now around nine million people using trading apps in the UK.

Rise of apps
Some of the newest investment trading services, offered by ‘neo-brokers’, are only available via a mobile app.

To keep pace, providers of traditional, desktop investment platforms have developed their own trading apps for customers to use.

The largest traditional UK platform, Hargreaves Lansdown, says its app had nearly 700,000 users at the end of 2021. It says more than a quarter of a million clients use its app daily.

One of its rivals, AJ Bell, announced last November the 2022 launch of Dodl, an app aimed at younger customers. One of Dodl’s key features is that it will allow investors to buy shares ‘commission-free’.

Commission-free trading has become a major selling point for trading apps that rely on other fees to make their money. See below for more information about trading charges in general.

Charges, however, should not be an investment app user’s sole focus.

Trading costs
The investment space is cluttered with variable fees and charges from one provider to another, so it can be a complicated business for investors – whether app-based or desktop-based – to work out what they will actually pay.

When it comes to buying and selling shares, some providers impose a flat fee per trade. Others structure their charges to benefit users who trade the markets more frequently.

Users may also find themselves billed according to the size of their investment. Accounts provided by longer-standing platform providers often come with a monthly subscription or admin fee.

If you’re planning on buying overseas shares – for example, you fancy gaining exposure to US tech stocks priced in dollars – then you’ll probably be charged a currency fee for doing so.

Meanwhile, if you’re an infrequent trader – say you take a year between trades – your account might be hit with ‘inactivity’ charges.

Several app providers promote their ‘commission-free’ trading status. It’s a welcome and increasingly popular option across the investing space. But bear in mind that, just because trades are free from commissions, it doesn’t necessarily follow that your account will be totally devoid of charges.

Brokers make their money in other ways, such as withdrawal fees and charges for currency conversion.

Before signing up to a particular investing app, work out what sort of investor you plan to be. Having an idea of how much you’re going to invest, how often you plan to trade, and which markets will be your primary focus can help determine the best and most cost-effective app for your needs.

If sheltering your investments from tax is a primary concern, make sure your provider has the scope to offer a stocks and shares ISA – a wrapper that allows an annual allowance of £20,000 of shares and funds to grow tax-free.

Beware ‘indiscriminate’ trading
Two of the main attractions of investing via an app are the ability to trade quickly and, assuming you choose the right provider, at little or no cost.

On the face of it, this sounds like a winning combination with the potential for enhanced investment returns on your portfolio. However, research from a team at Frankfurt’s Leibniz Institute says that it’s still important to tread warily, even when you’ve got the investing power of a small dealing room sitting in the palm of your hand.

The academics suggest a move to app-based trading can do investors more financial harm than good if they’re not careful.

The researchers tracked the transaction of 15,000 customers of two large German retail banks over several years. They discovered that, when people placed trades via a mobile app, they were 8% more likely to buy “riskier lottery-type stocks” than when they bought via a computer.

Deals placed via apps were also 12% more likely to be for “past winner” stocks, in other words, those that had enjoyed a recent surge. The researcher concluded that “our findings caution against the indiscriminate use of smartphones as the key technology to increase access to the financial markets”.

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Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

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Andrew Michael
Forbes Staff
Associate Editor at Forbes Advisor UK, Andrew Michael is a multiple award-winning financial journalist and editor with a special interest in investment and the stock market. His work has appeared in numerous titles including the Financial Times, The Times, the Mail on Sunday and Shares magazine. Find him on Twitter @moneyandmedia.

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