If you’re looking for ways to invest your money, trading stock is definitely something you should consider. Unlike savings accounts or bonds, stock trading takes a little bit of work from your end. However, the extra effort pays off in the long run as you can earn significantly higher returns compared to more conservative investment options.
I have some of my money invested in stocks, and I must admit that researching stock market information periodically can take some time and is simply not practical. So, I decided to do a bit of research to find the best apps for trading stock. My ideal stock trading app would need to fulfill two requirements. First, the ability to trade stock directly from my phone, without the need for a computer. And second, the ability to access up-to-date stock information with just a few taps. After spending some time on Google, I found a site with a list of the best 10 stock trading apps.
I downloaded some of the apps, and I tested them over the last couple of weeks. After careful consideration, I selected my top 3 favorites. In addition to a short review, I decided to include a summary of the pros and cons for each one, so you can easily find the right one for you.
Webull – Rating: 4.4, Downloads: 1M+
One of my favorite apps is Webull. Probably the reason I like it the most is the fact that you don’t have to pay any commissions when trading stock. So, you can focus on your trading instead of paying fees. I also like the variety of charts and statistics you have access to, including cash flow, balance, and income information for any stock. I also really like the watchlist feature as you can instantly learn the latest financial news on the companies that you are interested in.
Unlike my other picks, I found that Webull’s account approval process can take up to a few days to process. While you might need to be a bit patient at first, I found that it is well worth the wait, as the variety of stock trading tools easily make up for it.
Pros: Commission free trading, in-depth stock charts, and statistics, watchlist, financial news.
Cons: Slow account approval process.
Overall: Trade stock without paying any commissions, but keep in mind that the account review process can take some time.
Stocks, Forex, Bitcoin, Ethereum – Rating: 4.6, Downloads: 5M+
Another app I really liked is Stocks, Forex, Bitcoin, Ethereum by Investing.com. I found it to be a great choice if you want to keep track of all your investments in one place. Not only can you trade stock, but you can also track your bonds and commodities too. I also like that you can find out ahead of time about any important events that may influence the stock market. I found that with just a few taps you can mark any event on your calendar, so you don’t miss out on any important trading opportunities. And, last but not least, I also liked that you have the option to purchase cryptocurrencies. While I haven’t invested in them yet, I like that I can easily keep an eye on their prices before I make my decision.
The only drawback I found is that the widget feature can sometimes take a bit of time to refresh. So, if you want to check out what the latest stock market values are, your best bet is to open the app. However, I did notice that if you simply restart the app, the widget issue seems to get resolved. In any case, you can also set up notifications to get alerted with relevant market news on stocks you are interested in.
Pros: More than stock trading, purchase cryptocurrencies, track bonds and commodities, event calendar.
Cons: Widget can take time to update.
Overall: Keep track of your stocks, cryptocurrencies, bonds and commodities, all in one place, although you might find that the widget feature takes time to refresh.
E*TRADE Mobile – Rating: 4.3, Downloads: 1M+
My final pick is E*TRADE. While I had not used it before, several of my co-workers had recommended that I try it. So, when I saw it on the list, I figured it was time to give it a shot. I must say that its reputation is well earned. I found it to be a great choice both for beginners and experienced investors. On one hand, I really liked that you can access educational videos that help you learn everything you need to know about trading stocks. And, for those of you who are more experienced, I found the variety of stock trading tools to be really useful. Not only can you access real-time streaming quotes, but you can also sort data in more than a dozen ways, so you can quickly find the information you need. I also like that you can invest in ETFs and mutual funds directly from the app.
The only thing I wasn’t a fan of is that the app logs off automatically after a period of inactivity. However, I guess I shouldn’t complain as it ultimately keeps my investment information safe, in the case that I leave my phone unattended. So, just make sure to stay active on the app if you don’t want it to log out.
Pros: Educational videos, real-time streaming quotes, multiple data sorting options, other investment options.
Cons: Automatic log off after a period of inactivity.
Overall: Great for beginners and experienced investors alike, although it will log-out if you are inactive for a certain amount of time.
I hope you liked the stock trading apps I selected. My personal favorite is Webull, as I don’t have to worry about paying commissions. What about you? Let me know which one you liked or if I missed any of your favorites!