Stock trading and investing is becoming increasingly more popular, and for good reason. In today’s modern world, it’s far easier to buy/sell various securities, all from the comfort of your own home, or even the comfort of your mobile device. What are the best stock trading apps? We’ll be covering that in greater detail below.
Quicklook: Best Stock Trading Apps
- SoFi — Best for Passive Investors
- E*Trade — Best for Beginners
- Fidelity — Best for Those Just Starting Out
- Webull — Best for Free Trading
- M1 Finance — Best for The Complete Financial Picture
- Interactive Brokers — Best for Professionals
- TD Ameritrade — Best Overall for Trading and Investing
- TradeStation — Best for Experienced Traders
- Charles Schwab — Best for Long Term Investors
Table of Contents
- 9 Best Stock Trading Apps
- How Do Stock Trading Apps Work?
- Are Stock Trading Apps Safe?
- What Makes a Good Stock Trading App?
- An App Isn’t the Only Thing to Consider
9 Best Stock Trading Apps
Here is our list of the 9 best stock trading apps:
If you aren’t looking to trade frequently, SoFi is a great stock trading app. SoFi is more than just a brokerage, it’s a complete personal finance company. This company initially started in 2011, but has been growing in popularity ever since.
Minimum Deposit: SoFi Invest does not have a minimum deposit.
Commissions: There is a $0 commission when purchasing shares on the SoFi investing platform.
Fees: There is no management fee, nor is there a trading commission. However, SoFi offers a wide range of financial products, and fees are subject to change based on what product you need.
Account Types: You can open an individual account, joint account, or retirement account.
Tradable Assets: You can buy cryptocurrencies, stocks, and ETFs.
Standout Features: SoFi is an impressive platform that can take care of all your personal finance needs. From loans, insurance, credit card information, budgeting hacks, auto loans, money management tools, and investing – the SoFi platform can do it all.
- SoFi is more than just a place you can buy/sell stocks
- You can purchase fractional shares, which is great if you don’t have a high account balance
- There are no complex tools to use for technical analysis
- SoFi is available only in the United States
- The stock trading app itself does not have a lot of education built into it
Beginner investors or traders will appreciate the E*Trade stock trading app. E*Trade offers a wide selection of investing options, and their low cost makes it an easy choice!
Commissions: Although their commissions were once almost $7 per trade, this has since been cut to $0 per trade!
Fees: There is a fee to transfer out money, up to $75. There is also a $0.65 options trading fee.
Account Types: E*Trade offers individual accounts, managed portfolios, and retirement accounts.
Tradable Assets: One can invest in stocks, options, mutual funds, ETFs, futures, bonds or CDs, and even their prebuilt portfolios.
Standout Features: E*Trades prebuilt portfolios could be the perfect option for the beginner. This provides one with market exposure, and much of the hard work of selecting which companies to invest in has been done for you!
- There is a wide selection of education offered on their platform or website
- E*trades prebuilt portfolios could be a great option for a beginner
- There is a $0 commission when trading stocks
- There are over 4000+ mutual funds you can invest in with no fee
- There is a minimum deposit of $500 to invest in a mutual fund, and a $2,500 minimum deposit if you want to invest in ETFs
- Their overall trading platform is not as capable as more advanced systems, such as TD or Interactive Brokers.
If you’re new to trading or investing, Fidelity may be the perfect option for you. Their platform is easy to use, and their customer service is highly rated. Opening an account is easy, and executing trades can be done with minimal training.
Minimum Deposit: There is no minimum deposit requirement.
Commissions: You’ll enjoy the benefit of paying $0 in commissions when trading US stocks and ETFs. Options have a commission of $0.65 per contract.
Fees: If you place your own trades online, there is no fee. If you need to place a trade via one of their brokers, you’ll pay just shy of $33.
Account Types: One can have a college savings account, individual account, joint account, or IRA account with Fidelity.
Tradable Assets: Stocks, mutual funds, fixed income bonds and CDs, options, IPOs, annuities, and ETFs can all be purchased and sold directly through Fidelity.
Standout Features: Fidelity’s stock trading app has to be their best feature. In their app, you can pay bills, manage other investments, and even deposit checks.
- Their app is easy to use
- The app is diverse, allowing you to do a wide range of things directly on their platform
- Fidelity has $0 commission fees for online trades
- If you are just starting out, Fidelity is great. But as you get more advanced, this stock trading app may feel too basic.
- Fidelity is not great for active traders, or for advanced technical analysis
If you never want to pay a trading commission, Webull is the option for you. This platform was created to be an electronic trading platform that offers both mobile and desktop accessibility. Webull is also a great option for those who want to include cryptocurrencies into their portfolios.
Minimum Deposit: There is no minimum deposit to open a standard account, but if you want a margin account, you’ll need to deposit $2,000.
Commissions: Webull offers commission free trading!
Fees: Although there are no commissions, there are fees associated with various trading techniques. For example, short selling will have a fee associated with it. Borrowing money, also known as buying on margin, will also have a fee associated with it. All the fees are neatly displayed on their website.
Account Types: WeBull offers two account types, an individual brokerage account and an IRA.
Tradable Assets: Stocks, ETFs and options can all be bought/sold with WeBull.
Standout Features: The standout feature must be how fantastic their trading platform is. Whether you’re using it on a mobile device or on your computer, this is a clean, fast, and well organized platform!
- 24/7 customer service
- Their stock trading app is powerful, and their website is also fantastic
- There are a wide range of technical tools you can use
- The company is only a few years old, so if you feel more comfortable investing or trading with a well established company, you may not be comfortable here
- Their overall product offering is minimal compared to other brokerages
If you want to combine all of your finances under one roof, M1 Finance must come to mind. M1 Finance is more than just a stock trading app. Customers of M1 Finance enjoy a wide range of benefits, and appreciate having all their finances in one central place.
Minimum Deposit: There is a $100 minimum deposit requirement for an individual account, and a $500 minimum deposit for retirement accounts.
Commissions: There are no commission fees!
Fees: M1 Finance does not have a management fee, but they do have miscellaneous fees. Some of the common fees include an inactivity fee of $20, mailing fees, and transfer fees. The full fee list can be found here.
Account Types: M1 Finance offers individual accounts, joint accounts, and retirement accounts.
Tradable Assets: Investors can invest in stocks and ETFs.
Standout Features: The best feature of M1 Finance is how you can do more than just investing. You can borrow money, receive cash back on your checking account, and build your credit.
- All the features M1 Finance provides, such as lending, credit, and checking
- The stock trading app is super easy to use
- There is minimal customer service support
- Investment options only include stocks and ETFs
If you’re a professional, Interactive Brokers is likely the stock trading app for you. Interactive Brokers offers such a wide range of investment options, you’ll find everything you need. Between their services offered and educational tools provided, this platform will surely help complement any advance trader.
Minimum Deposit: Depending on which account you choose, you’ll have a different minimum deposit. For individual, joint, or trust accounts, there is no minimum account deposit. For broker accounts, you must deposit at least $10,000.
Commissions: The commission also depends on which account you choose. If you have an individual, joint, IRA or trust account, you will not pay a trading commission.
Fees: Fees are subject to change based on what you’re investing in, and what type of account you have. There are fees to trade certain securities, and to leverage margin.
Account Types: You can have an individual account, joint account, brokerage account, or IRA account.
Tradable Assets: The world is essentially yours to trade. You can trade; stocks, ETFs, options, futures, SSFs, currencies, crypto currencies, metals, and mutual funds.
Standout Features: If you have an InteractiveBrokers account, you can trade in 135 markets, 33 countries and in 24 unique currencies. This undoubtedly is their greatest feature.
- You can trade all over the world, in 135 different markets and 33 countries
- The live information on the stock trading app is neatly displayed
- You can customize your view within the app as you please
- Despite how useful the tools are, if you are a beginner, this platform may be too complex
- There are fees associated with different types of trading, depending on which account you use and which market you’re trading in
TD Ameritrade is an excellent overall stock trading app. Not only does TD Ameritrade provide a powerful mobile app, their desktop software is second to none. TD Ameritrade is a great platform where one can; do deep technical analysis, receive live time market news, make long term investments, and learn quite a bit considering their countless hours of educational material.
Minimum Deposit: There is no minimum deposit to open an account.
Commissions: If you buy US stock or domestic and Canadian ETFs – you will not pay a commission. However, options will have a $0.65 fee per contract.
Fees: Buying international stocks are subject to a fee, and options have a $0.65 fee per contract.
Account Types: TD Ameritrade offers a wide range of account types, including; margin accounts, retirement accounts, educational accounts, specialty accounts, and standard accounts.
Tradable Assets: In addition to stocks, you can trade; ETF’s, bonds, mutual funds, foreign exchange, and futures.
Standout Features: The best feature of TD Ameritrade must be how diverse its platform is. Whether you’re a value investor, or day trader, the platform is capable of handling it all!
- TD Ameritrade offers countless hours of education within their software, teaching you how to make the most out of your trades and investments
- The platform has a great deal of technical analysis tools
- You can get live market news courtsey of CNBC directly on the platform
- There are $0 trading commissions
- The software can be complex, you’ll definitely need to take some time learning it
If you’re an experienced trader, consider using the TradeStation stock trading app. TradeStation allows you to do deep technical analysis, and receive live time market updates/news directly on their platform.
Minimum Deposit: There are different minimum deposit requirements depending on which platform you choose to go with. Their standard platform does not have a minimum requirement, but their Select platform has a $2,000 minimum requirement.
Commissions: All of the commissions are neatly laid out on their website. If you’re trading stocks and ETFs, you won’t pay a commission! However, other securities will have a commission associated with the trade.
Fees: TradeStation’s fees are baked into the commission you’ll pay.
Account Types: There are plenty of account types you can choose from, including individual or joint, retirement, entity, and margin accounts.
Tradable Assets: You can essentially trade it all with TradeStation. Stocks, bonds, mutual funds, cryptocurrencies, IPOs, ETFs, futures and options are all available on their platform.
Standout Features: The standout feature must be how diverse their trading options are.
- This stock trading app allows you to do technical analysis
- The app is clean and neatly organized
- You can trade a wide range of securities, including cryptocurrencies
- If you’re not experienced, this platform is overwhelming
- Other stock trading apps offer more educational information
Charles Schwab is an iconic name in the investing world. In the present day, Charles Schwab has $7.5 trillion assets under management. Initially founded in 1971, Charles Schwab is a staple for investors.
Minimum Deposit: There is no account minimum, but some investments will require a minimum investment.
Commissions: Charles Schwab wants to make investing and trading accessible to everyone, and for that reason, they do not charge an equity commission.
Fees: There are no stock and ETF fees when trading online. Options do have a small fee associated with them, $0.65 per contract.
Account Types: Charles Schweab offers retirement accounts, margin accounts, standard/personal accounts, and custodial accounts.
Tradable Assets: One can trade/invest in; mutual funds, bonds, foreign exchange, options, and of course stocks. International markets are also an option.
Standout Features: One of the best features of Charles Schwab is the fact you can either leverage their stock trading app and invest on your own, or work directly with a Charles Schwab financial advisor.
- Absolutely phenomenal customer service
- $0 stock and ETF commissions
- You can work with a financial advisor if you chose to do so, but could still monitor all your performance on their stock trading app
- Charles Schwab is more of an investment company/brokerage. If you want to day trade, you may find their platform a bit limiting
How Do Stock Trading Apps Work?
Stock trading apps provide investors or traders with access to the corresponding brokerage. Stock trading apps can either be an installed program on your computer, or a download for your tablet or mobile device.
Once you are logged into the stock trading app, you’ll be able to see and manipulate your entire portfolio. You can buy/sell securities, set stop losses and stop limits, listen to the market news, or study a technical analysis pattern.
Are Stock Trading Apps Safe?
Stock trading apps can certainly be safe! With that said, all apps are not created equal. Some stock trading apps take safety and security seriously, and others, unfortunately, do not give safety and security the attention it deserves.
Making sure that the app you choose has good security, is key to finding the right stock trading app for you.
What Makes a Good Stock Trading App?
Stock trading apps can be incredibly useful! But what exactly makes a good stock trading app? Consider the following variables:
Easy User Interface
First and foremost, the interface needs to be easy to use and navigate. Stock trading apps are designed to provide convenience to your investments. The last thing you’ll want to be dealing with is a complicated stock trading app where information, trades, or quotes are difficult to get to.
Aesthetically / Visually Pleasing
Not only does the stock trading app need to have an easy user interface, it should also be visually or aesthetically pleasing. Having everything neatly organized is important.
Using different color fonts can help guide your attention to specific areas of the app, but you do not want there to be too many colors where the data or information becomes distracting.
Security and Privacy
Considering the stock trading app will have access to the money you’ve funded your account with, and your active trades, security and privacy must be of top importance. Many stock trading apps have a multi-step verification process just so you can log into the app!
This is for your benefit, and the extra few seconds in security will go a long way to protecting your money. The best online stock trading apps will go the extra mile to keep you and your money secure!
Low or Minimal Fees
Your stock trading app is directly tied to your brokerage. Although the app itself won’t have a fee, unless there is a fee to download it from the app store, you’ll want to make sure your brokerage has low trading fees. There are plenty of phenomenal brokerages that offer zero trading fees!
Another variable worth considering is the investor resources the stock trading app comes with. Some stock trading apps allow you to access live market news directly within the app. Others allow you to access a chatroom, read technical analysis, and have recorded educational classes you can listen to.
Additional features could include a multitude of features. Generally speaking, the additional features people would be looking for centers around the amount of control they can have on their orders. Some stock trading apps limit the types of orders you can execute, whereas others have no limit.
Account Types Offered
Last but not least, consider the account types the stock trading app offers. You’ll want to make sure the account types offered, align with what you’re looking for.
An App Isn’t the Only Thing to Consider
Stock trading apps make trading and investing more accessible to the general public. In a not so distant pass, pulling up live market information and news in the palm of your hand was not possible.
Although its easier to trade/invest today, it doesn’t mean making the right trading or investing decision became easier. In fact, considering how easy these apps are to use, many people look to take on investing head first.
However, investing in the right securities to fit your goals is a complex business. Working with a financial advisor is the best way to make sense of these complexities.
Financial advisors keep your goals in mind, help you establish a budget, understand your risk tolerance, and find the right securities to meet your needs. Financial advisors are a great resource to use, and can often help you maximize your annual returns.