You may not know where to start investing as a novice or how to obtain the greatest return on your money. In these times, even seasoned investors might be unsure whether to buy now or wait until rumors of a recession have gone, since you may hear contradicting information about the stock market in the news. If you need clarification, Stock Trading Apps are here to help.
What to invest in, how to invest in stocks, and which stock trading or investing applications beginners should use to avoid being overwhelmed may all be quite confusing when you first start investing. Thanks to the development of FinTech services, several stock trading firms now provide newcomers with free, user-friendly access to the stock market.
The top stock trading platforms and applications are included in this list for novices and above. While we value the absence of commissions, our primary goal is to deliver the greatest user experience possible in line with the site’s primary objective of generating long-term wealth. This often entails investing in inexpensive index funds you intend to retain for a long time.
The introduction of commission-free trading by Robinhood in 2013 propelled the company to the public’s notice as a pioneer in the field. Thanks to their continuous $0 fees on stocks, ETFs, and options and their fractional trading, which enables users to trade with as little as $1, they continue to be a standout choice for cost-conscious investors.
Top Stock Trading Apps for Beginners
1. Robinhood
But more crucially, Robinhood has changed from a basic program geared at novice investors to a more feature-rich account ideal for users of all expertise levels.
For instance, via Robinhood Retirement, Robinhood now provides individual retirement accounts (IRAs) and Roth IRAs. Because of limited investment alternatives, it performs less well than many other IRA providers in terms of functionality.
Like its brokerage account, it only provides equities and exchange-traded funds (ETFs). Mutual funds are not offered. Although Robinhood has indicated explicitly that alternatives would soon be made accessible, they are not yet available.
Features:
- Commission-free trading.
- Commission-free trade on stocks, ETFs, options, and cryptocurrency.
- Selection of available investments in brokerage accounts.
- Automated portfolio builder.
- Level II market data.
- Intuitive UI.
- Extensive educational library.
Pricing:
- Free to download and install.
- $0.000145 per share (equity sells) and $0.00244 per contract (options sells).
2. Webull
Webull, one of the top Stock Trading Apps, created an impact when it entered the market for investments in 2018 by providing free stock trading and commission-free trading of exchange-traded funds (ETFs) and options. Since then, even if many of its features are also beneficial to novice investors, it has emerged as one of the top stock trading applications for intermediate traders.
Webull, for one, is still amenable to traders who are cautious with their money. Creating an account is free. The trading of stocks, ETFs, and options is still commission-free. Numerous choices have no contract costs. Webull also doesn’t need a minimum deposit.
Additionally, it provides fractional shares, allowing individuals to start investing with as little as $1. With Webull, you can study, trade, and keep track of your stocks on almost any device, whether a desktop, tablet, or smartphone.
Features:
- Customizable screeners.
- Preset lists.
- 12 charting tools.
- Real-time stock alerts.
- Numerous order types.
- Quant ratings.
- Fractional shares.
- Technical analysis tools.
Pricing:
- Free trial available.
- Level 2 Quotes service: $2.99/month.
3. Fidelity Youth™ Account
Are you interested in helping your adolescent get a head start on their finances? Do you want them to develop wise financial practices along the way? You do, of course! When you get off to the correct start, learning about investing, spending, and saving early may pay you greatly.
The Fidelity Youth™ Account, controlled by youth between the ages of 13 and 17, is one of the Best Free Stock Trading Apps that may assist your youngster in starting their financial path. Most American equities, exchange-traded funds (ETFs), and Fidelity mutual funds may be purchased for as low as $1 to get them started investing.
Additionally, your kid will get a free debit card with no monthly charges, no account fees, no requirements for minimum balances, and no domestic ATM fees. Additionally, kids may manage their money with the help of this free adolescent debit card and utilize it as needed.
And what about forming wise financial practices? The Fidelity Youth™ app, which includes a dedicated Learn tab loaded with resources made significantly to help adolescents build healthy financial habits, allows you and your teen to access your account.
Their learning will be accelerated by Fidelity’s interactive courses, videos, articles, tools, and calculators. For each level they pass, reward money will be paid into their account for them to spend any way they choose.
Features:
- No monthly account fees.
- Signup offer.
- Comprehensive financial suite.
- Like mobile payment apps to Venmo and PayPal.
- Youth Learn tab.
- Statements, trade confirmations, and debit card transactions.
Pricing:
- Free to use.
- There are no account fees, account minimum, and trading commissions.
4. Plynk
Plynk is one of the Stock Trading Apps created to assist you in beginning to invest and learn along the road. They now provide a $10 account registration and a $75 net deposit incentive ($85 total) for their promotional offers.
The Plynk app aids investors in putting money into a portfolio of investments. All in one app, you can trade stocks, ETFs, and cryptocurrency commission-free and invest with as little as $1.
The site explains investment principles in simple, understandable terms. There is no jargon. No elaborate tables and charts. Just straightforward instructions and advice.
Utilize tools to investigate and make decisions as you navigate investing possibilities. Answer a few questions on Plynk Explore, and the app will show you stocks, ETFs, and mutual funds that fit within your investing comfort level.
Plynk provides comprehensive lessons and courses on financial education, including advice, knowledge, and how-tos, to help you improve your financial literacy.
Features:
- Developed for new investors.
- To invest, utilize leftover gift cards.
- Helpful e-learning materials.
- Invest commission-free in equities, mutual funds, exchange-traded funds (ETFs), and cryptocurrencies.
- Redeem unused gift cards for money.
- Signup bonus.
Pricing:
- Free.
- Some features may require a subscription.
5. J.P. Morgan Self-Directed Investing
This financial service provided by Chase may be accessed via the Chase Mobile app or Chase.com. With the help of this investing software, you may trade an infinite number of stocks, ETFs, fixed-income securities, mutual funds, and options without paying any commissions.
You may use tools to create your portfolio using the investing app, such as screeners and watchlists, which are beneficial for creating diverse portfolios and keeping up with market activity.
To help users make well-informed investing choices, the app offers market analysis, J.P. Morgan Research, and tailored news. These tools may help you create your target allocation for your assets.
Features:
- An above-average commission-free asset selection, which includes Treasury bonds and mutual funds.
- Many forms of investment accounts.
- Syncing with other Chase financial accounts.
- It is a very fluid and simple mobile experience.
- General Investing, Traditional IRA, or Roth IRA account.
- Secure, easy-to-use trading experience.
- Powerful tools and resources.
Pricing:
- No annual or inactivity fees.
- $0 per trade + $0.65 per-contract fee.
- $75 full transfer fee.
6. Public.com
Aimed at Millennials and Gen Zers, Public.com is one of the commission-free Best Free Stock Trading Apps that has expanded the sorts of assets that are accessible to its customers. On Public, users may invest in more than 25 different cryptocurrencies, equities, ETFs, and, more recently, nontraditional assets like art and shoes.
That latter point merits special attention. Among investment applications, alternative assets are pretty uncommon. Many wise investors like to diversify into these assets because they may provide returns uncorrelated to the stock and bond markets, even though they can be challenging to study (and consequently tough to invest appropriately).
However, even if it is increasing, Public.com currently has a relatively small selection of tradable assets: Mutual funds, options, bonds, and futures are unavailable. Additionally, new users may only open individual brokerage accounts.
Features:
- Diluted shares.
- Enables the trading of alternative assets.
- No PFOF (payment for order flow).
- Innovative social investment components.
- Zero-commission trading.
- Invest in cryptocurrency.
- Social feed.
- Curated lists of stocks and ETFs.
- Morningstar insights.
Pricing:
- No commission fees.
- Extended-hours fees: $2.99 per trade.
- Foreign exchange fee: 0.30%.
7. Moomoo
Stocks, ETFs, and options may be traded on the commission-free trading platform Moomoo. While Moomoo is excellent for experienced traders, it takes a different approach from other similarly oriented platforms, emphasizing simple interfaces and great usability.
It also offers sophisticated tools to boost your trading insights and methods. While the mobile app is simple and allows you to look for stocks and trade with little difficulty, the desktop platform is very customizable.
Moomoo still has enough power for experienced merchants to do their tasks. For instance, its charting system has 22 drawing tools and 62 technical analysis indicators. Alerts may be set up based on price changes, bids, turnover ratio, and other factors.
Free Level 2 market data enables you to time your transactions better, assess the liquidity of a stock, and get a more profound knowledge of its worth. Moomoo’s editorial staff also handpicks financial news that you may access 24/7. The trading platform offers these tools to help investors make wiser investment choices.
Features:
- Commission-free trading.
- All-in-one investment app.
- Free Level 2 market data.
- Powerful stock charting software.
- Free paper trading.
- Low margin rates.
Pricing:
- Free to use.
- Contract Fees: $0.65 per contract.
8. Acorns
The “Round-Ups” feature of Acorns, an investment program targeted at teenagers, young adults, and millennials, rounds up purchases made on associated debit and credit cards to the closest dollar and invests the difference on your behalf.
For instance, if you spend $2.60 on a coffee using a connected credit card, Acorns will round this up to $3.00 and offset the 40-cent difference. You may move those Round-Ups to your Acorns account for investment if they reach $5 or more.
The Acorns investment platform is a straightforward, automated platform for investing that employs pre-built ETF portfolios to maintain exposure to equities and bonds for investors. Furthermore, it is not intended for aggressive traders.
Features:
- Affordable fees for robo-advisors (on bigger portfolios).
- A model with a set charge.
- Round-Ups.
- FDIC/SIPC protection.
- Pre-Built ETF Portfolios.
- Famous for investing spare change automatically through Round-Ups.
- $0 minimum deposit.
- Customizes users’ portfolios.
- Automatically rebalances portfolio.
Pricing:
- Personal: $3/month.
- Personal Plus: $5/month.
- Premium: $9/month.
How Much Money To Invest
The good news for novice investors is that it costs relatively little to get started today. You can start with almost any amount of money since the fees are so small or nonexistent. Your long-term saving and investment discipline count considerably more than your initial financial situation.
The secret to successful long-term investment is to accumulate funds over time consistently. As a result, to get riches, you’ll need to always make investments in your positions and put money into the account.
The amount you actually invest will depend on your demands and financial status. Additionally, thanks to today’s low-fee brokerages and applications, you have more money in your pocket to support. You can use Stock Trading Apps and their library.
FAQ
Q: Can I trade stocks for free?
A: In the 1980s, the average price paid by traders to acquire or sell a share of stock was about a quarter. Robinhood, a brokerage app, pioneered the way by providing traders with zero-commission inventories. Other businesses have little option but to do the same to stay competitive.
Many applications no longer impose trading commission fees on your transactions. Only a small number of applications continue to require payments. These fees are often exclusively applied to other value-added services in investment applications.
Q: Can I invest for free?
A: Stocks are often considered to be riskier investments than exchange-traded funds (ETFs) or lengthy investments, such as retirement funds. Fortunately, many stock applications also let you make free investments in retirement plans and ETFs.
Q: Do I need to carry my laptop to watch the stock market’s status?
A: With so many options in the market, you can watch the stock market’s status on your smartphone.