For the trader who regularly sells or buys stocks, it is all about getting the timing right. An opportunity spotted on the counter can vanish on a computer in seconds before you could even log in. This issue is further aggravated when a person is on the move or has limited access to workplace terminals.
Following the rapid growth in institutional and retail clients, stock market trading has now swiftly shifted from desktop computers and other trading platforms to mobile phones. This has resulted in a large upswing in people using their smartphones for applications of different brokerages for the last few years.
This massive shift has been attributed largely to the minimum efforts required in placing orders on the phone and keeping a keen eye on any portfolio, with regards to market prices, at the same time.
Cheap internet plans and increasingly affordable smartphones have further fueled the stock app market in a big way. All that is required from the investor is a trading account with any broker and a web-enabled smartphone for a seamless trading experience for both beginners as well as seasoned traders.
Nowadays, almost every leading brokerage house has installed its own stock trading app and formed a technical team to monitor it closely from time to time. Several others have gone a step further and incorporated artificial intelligence (AI), possibly with intent on reducing human interface, on the mobile trading applications.
Stock trading apps
American citizens seeking to invest in the stock market also have a great number of options. Online brokerage services come in various flavors, from full service and big discounts to having the best trading tools for research. Today we will focus exclusively on U.S based stock trading apps although these brokerages are normally only excepting Americans (even neighboring Canadians aren’t accepted, and Canada has its own stock apps).
After a thorough check across different features, these five stock trading apps in the US stood out for the best stock trading experience and their ability to buy and sell shares with no commission. They were also good in investment research, portfolio tracking. The tests were carried out using an iPhone and Samsung Galaxy android.
When focussing on what makes a stock app more useful, also consider pricing, investment choices, resources for investment research, and account types.
Charles Schwab:
Account minimum: $0
Fees: Free stock, ETF trading, $0.65 per options contract
Ideal for investors who use exchange trading funds, or ETFs, exclusively to build a balanced portfolio as Schwab’s StreetSmart Edge ETF screener is the best in the market.
Tastyworks:
Account minimum: $0
Fees: $0 stock trades, $1.00 to open option trades $0 to close
Tastyworks fits the bill for the lowest out-of-pocket costs as clients are charged zero fees for trading US equities online as well as no per leg fee for option trades. All the tools required are built on their platform.
Fidelity Investments:
Account minimum: $0
Fees: $0 for stock/ETF trades, $0+$0.65/contract for option trades.
Fidelity provides the best overall trading platform for investors as apart from other benefits, it allows customers to earn interest by putting their uninvested cash into a money market fund. Moreover, it offers three mobile applications, NetBenefits, Fidelity Spire apart from its flagship mobile trading app to provide a phenomenal experience to its customers.
Interactive Brokers:
Account minimum: $0
Fees: $0 for ETF trades/stock $0+$0.65/contract for options trade
Interactive Brokers deserve the best for advanced traders award because of the wealth of tools they possess and their commitment to connect to as many electronic exchanges as possible. With 135 markets in 33 countries, they are ahead significantly in International trading as well.
Merrill Edge:
Account minimum: $0
Fees: $0 for stock trades/$ 0.65 per options contract.
An easy-to-use mobile app that is excellent for research through its two proprietary tools Portfolio Story and Stock Story. Top pick for bankers looking to manage banking and brokerage in one app. It provides the best rewards for existing Bank of America customers as compared to any other broker.
E*Trade:
Account minimum:$0
Fees: $0 for stock trades/$0-$0.65 for options per contract.
One of the oldest online brokerage services of America established in 1982, E*Trade’s main highlight is its two excellent mobile apps and a great platform for beginners E*TRADE.
Firstrade:
Account minimum: $0
Fees: $0 for both stock trading and options per contract.
A terrific app for Chinese-speaking investors, Firstrade offers a 24×7 seamless fully translated customer experience through their website and their OpinionsPlay tool.
Ally Invest:
Account minimum: $0
Fees: $0 for stock trades/$0.50 for options per contract.
An easy-to-use website and an efficient brokerage and banking combination Ally Invest, which also runs the Ally Bank, permits instant money transfers and $0 trades between accounts.
TradeStation:
Account minimum: $0
Fees: $0 for stock trades/$9.50 per options contract.
TradeStation is a robust platform that supports both casual and active traders. It won the Platform Technology award of 2021 and offers wonderful tools for trading.
Webull:
Account minimum: $0
Fees: $0 for stock trades/$0 for options per contract.
A community-driven stock app, Webull’s unique features are easy to use and well designed. Their platform is meant mainly for young investors.
Information apps
Unlike a few years ago, when people had only newspapers and television to access information on the stock market, technology has simplified this to a very large extent these days. Investors can now follow the stock market sitting in their homes on their smartphones. Here are five of the best information apps:
StockTwits:
Boasting of real-time data and stocklists specially curated by professionals, StockTwits is one of the most comprehensive stock trading apps in the market today. A section on cryptocurrencies and forex can also be found on this app.
Yahoo Finance:
For the latest stock market updates and other financial information, Yahoo Finance leads its competitors by a fair distance. Not only can the user sync the trading information across multiple devices, it keeps an eye on the world markets and equities as well.
Bloomberg:
Being a reliable and well-known name in the financial industry for many years, Bloomberg is a top-tier app for traders who wish to monitor stocks across the globe. Investors get exclusive access to Bloomberg TV and allow users to create their stock portfolios without any hassle.
JStock:
A good stock market news app integrated with a portfolio tracker, JStock provides one with an easy alternative to get information on the stock market and keep a track of the companies you want to trade-in. Its analysis is some of the best and it gives very useful information on stock dividends.
Robinhood:
This app is best for those investors who wish to track and buy stocks without paying any fees. Besides permitting traders to deal in Bitcoin and cryptocurrencies, a brilliant idea from Robinhood, there are no fees or commissions to start trading.
These best stock trading apps allow you to sell and buy stocks and ETFs without having to pay any commission. These selections are localized and not available in Canada or other regions. They make investing simple and easy by just using your smartphone or tablet.
