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Just like most of the best online brokerages, stock trading apps allow traders to access the stock market from a mobile device. With a stock trading app, you can buy and sell assets, plus access additional app features like educational resources and goal planning tools.
Featured Stock Trading Apps from Our Partners
SoFi Invest
On SoFi's website
Perks Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
Get up to $1,000 in stock when you fund a new account.
Account Minimum
$0 ($1 to start investing); $5 fractional shares; $2,000 for margin trading
Fees
0% for active trading and automated investing
Pros
- No minimum to start investing
- No account or trading fees, and low fees to own funds
- Access to Certified Financial Planners at no additional charge
- IPOs available
- SoFi 1% IRA match
Cons
- No tax-loss harvesting, an advanced investing technique where you sell a stock or mutual fund at a loss for a tax benefit
- No option for stop-loss orders when actively investing. SoFi's active investing account only uses market orders
- Currently only available to US residents
Insider’s Take
SoFi Invest us a great platform for US investors who are looking for an intuitive online trading experience, an open active or automated investing account.
SoFi Invest review External link Arrow An arrow icon, indicating this redirects the user."
Product Details
- Promotion: Get up to $1,000 in stock when you fund a new account.
- App store rating: 4.8 iOS/4.1 Android
- Consider it if: You want an easy-to-use platform paired with rock-bottom pricing.
Wealthfront Investing
On Wealthfront's website
Perks
Fund your first taxable investment account with at least $500 in the first 30 days of account opening and earn a $50 bonus.
Account Minimum
$1 ($500 for automated investing)
Fees
$0 for stock trades. 0.25% for automated investing (0.06% to 0.13% for fund fees)
Pros
- Low annual fee for investment accounts; crypto trust investments available
- Tax-loss harvesting, portfolio lines of credit, 529 college savings plans available
- Cash account
- Mobile app and investing and retirement tools
Cons
- You need at least $100,000 to utilize additional investment strategies
- No human advisor access
Insider’s Take
Wealthfront is one of the best robo-advisor options if you're in search of low-cost automated portfolio management, and one of the best socially responsible investing apps for features like tax-loss harvesting, US direct indexing, and crypto trusts.
Wealthfront review External link Arrow An arrow icon, indicating this redirects the user."
Product Details
- Consider it if: You're balancing several goals and want to streamline your finances.
- Promotion: Fund your first taxable investment account with at least $500 in the first 30 days of account opening and earn a $50 bonus.
Robinhood Investing
On Robinhood's website
Perks See Terms https://cdn.robinhood.com/assets/robinhood/legal/Robinhood_ACATS_Bonus_Offer_Terms_and_Conditions.pdf
Earn 1.50% APY on uninvested cash for non-Gold users and 5.00% for Gold members
Account Minimum
$0 ($1 for fractional shares; $2,000 for margin trading)
Fees
0% ($5/month for Robinhood Gold)
Pros
- Free stock, option, ETF, and cryptocurrency trades; 1.50% APY on uninvested cash for non-Gold users and 5.00% for Gold members
- IPO investing available
- Cash management accounts available
- Website is easy to navigate; advanced charts for all users
Cons
- Lack of investing research and trading tools; can only take advantage of professional research if you're a Robinhood Gold member
- No joint accounts, education savings accounts, or mutual funds
Robinhood Investing review External link Arrow An arrow icon, indicating this redirects the user."
Product Details
- App store rating: 4.2 iOS/4.0 Android
- Consider it if: You want to trade crypto and invest in a wide range of stocks and ETFs.
Complete Editorial Review of the Top Stock Trading Apps
The best stock trading apps offer flexible trading options, customized portfolios, market research, low fees, various investment options, and access to a multitude of investing strategies. If you're looking for commission-free trades on assets like stock or ETFs, the best free stock trading apps are the way to go.
The best stock trading apps offer the ability to buy and sell shares of stocks and ETFs with no commissions. They also allow you to research investments, track your portfolio, and easily enter orders to buy or sell.
If you're looking to invest outside of stock trading, see Insider's picks forthe best online brokerages to help you get money in the market.
Check out the best stock trading apps currently available as picked by Business Insider's editors.
Best overall: Charles Schwab
Charles Schwab'sSchwab Mobile is a strong all-around choice for stock traders. It comes with no account minimums and no recurring fees. You can choose between just about any type of investment account you would want and most types of investments. And for stock trades, the app is well-rounded for both beginners and experts. Charles Schwab also offers a no-fee automated adviser, Schwab Intelligent Portfolios, but you'll need at least $5,000 to get started.
The mobile app makes it easy to view your accounts, positions, and balances. You can view market indices and news, research stocks, and enter an array of trade types from the app. One of its features, the Schwab Assistant, gives you voice control to make trades, get quotes, set alerts, and get answers to questions about investments.
Users also have access to the more advanced StreetSmart Mobile. It works well but doesn't rate among the very best for the most active traders. But Schwab now owns TD Ameritrade and thinkorswim, which is an industry leader for active traders. More on that in the next section.
Charles Schwab review
Best for active traders: TD Ameritrade thinkorswim trading platform
TD Ameritrade'sthinkorswim is a top stock trading app for active traders. TD Ameritrade features accounts with no recurring fees and no minimum balance. It offers a diverse range of accounts and investments, including some investments that are less commonly supported such as futures, forex, and cryptocurrencies. But it stands out for its active trader offering for both experts and those looking to become experts in active trading.
The flagship active trading platform at TD Ameritrade is thinkorswim. Thinkorswim gives you a nearly identical experience wherever you log in, including desktop or mobile. It features advanced charting, advanced trade tools, profit and loss calculations, a live CNBC news stream, and chat support where you can get live help from a TD Ameritrade trading specialist from inside the app.
Important note: TD Ameritrade was acquired by Charles Schwab on October 6, 2020. However, Schwab has announced it plans to keep thinkorswim alongside StreetSmart Edge. If you're looking to set up a managed account, though, you'll have to do so through Schwab.
TD Ameritrade review
Best for beginners: SoFi Invest
SoFi Invest is one of the best stock market brokerages for new traders. SoFi's app is less robust than some larger competitors, but that also makes it easy to navigate and understand if you don't have as much experience in the markets.
SoFi offers taxable accounts, retirement accounts, and a more limited set of investment choices. But stocks and ETFs are well represented. SoFi also offers a no-fee automated investing platform, and it lets you invest in fractional shares through a product it calls Stock Bits. In addition, SoFi has now launched options trading. Beginners will enjoy browsing through groups of stocks by category to get ideas for how to invest. The app also includes educational articles accessible from stock account pages.
If you are brand new to the markets, SoFi offers a way to get started with a small investment and no fees. That's a good combination for learning how to trade stocks.
SoFi will no longer offer crypto trading starting December 19, 2023. Existing SoFi crypto account holders will have to liquefy their assets or migrate to Blockchain.com.
SoFi Invest review
Best for no commission fees: Vanguard
Vanguard has investment options for just about every type of investor. In addition to its Jack Bogle-created index funds, the brokerage offers commission-free trading on several investments, automated investing through Vanguard Digital Advisor (with the additional choice of one-on-one advisor guidance, thanks to Vanguard Personal Advisor Services), IRAs and other retirement resources, and market research and educational resources.
You can trade stocks without commissions here, and Vanguard offers margin accounts (these accounts let you borrow money to buy more securities) and commission-free options trading for more advanced investors. You'll have to apply for margin trading, though.
In addition to its iOS and Android mobile apps, Vanguard also offers trusts, 529 plans, custodial accounts, small business retirement plans and more.
Vanguard review
Best for long-term investing: Fidelity
Fidelity offers a wide range of accounts and investments that could meet the needs of virtually any investor, but it stands out as a great choice for stock market inventors looking to buy and hold for long-term goals like retirement. It offers a wide range of investing products, including fractional shares.
In addition to common tools that allow you to research and trade stocks, Fidelity offers apps and tools to help you reach retirement goals and other long-term plans. For example, the Fidelity Spire app is a goal-oriented app that encourages good saving and investing habits to reach the goals you've specified.
Fidelity Investments is best for beginners, but it also suits active traders, passive investors, and long-term-focused investors.
Fidelity review
Best for expert traders: Interactive Brokers
For expert traders looking for a slick, Wall Street-style trading platform, Interactive Brokers is a great choice. Sometimes called IBKR for short, Interactive Brokers offers multiple types of accounts, including ones that work well for retail investors all the way up to professional and institutional investors. It gives investors access to a very wide range of assets including, of course, stocks.
Interactive Brokers mobile app, IBKR Mobile, is a fully functioning investment platform with advanced trading tools in your pocket. Advanced quotes and research contain 50 columns of data in a very similar format to the desktop platform. It's cutting-edge and works best for those with at least some investment experience.
Interactive Broker review
Best for banking and stock trading: Ally Invest
If you're interested in a straightforward investment platform that goes hand-in-hand with some of the best checking and savings accounts on the market today, Ally could be the right fit. Ally Invest has no minimum and no recurring fees and shares the same login for accounts with Ally Bank.
With Ally Mobile, you can view your investments and enter stock trades with just a few taps. The app includes basic research and charting, recent news, and the ability to quickly enter a trade. It doesn't have as many bells and whistles as some stock trading apps, but it covers the basics and makes it easy to trade for a very low cost.
Plus, investors who prefer automated portfolios might be excited to know that the Ally Invest Robo Portfolio has a $100 minimum and no advisory fees. The only catch is that it doesn't allow for DIY stock trading; it primarily uses ETFs. The account also automatically sets aside 30% of your portfolio as cash to protect you against market volatility.
It also offers a market-focused, automated portfolio that only sets aside 2% of your portfolio as cash, but this option includes a 0.30% fee. However, both of its automated portfolios offer 3% annual interest on the cash held in the account.
Ally Invest review
Best Stock Trading Apps of 2023
- Charles Schwab: Best overall stock trading app
- TD Ameritrade: Best stock trading app for active traders
- SoFi Invest: Best stock trading app for beginners
- Vanguard: Best stock trading app for no commission fees
- Fidelity Investments: Best stock trading app for long-term investing
- Interactive Brokers: Best stock trading app for expert traders
- Ally Invest: Best stock trading app for banking and stock trading
Stock Trading Apps Frequently Asked Questions (FAQs)
Which stock app is best for beginners?
SoFi Invest is the best stock trading app for beginners, because it has an easy-to-use interface and educational materials about stocks. You also just need $1 to start investing, so it's a good app for beginners who don't have much money to invest yet.
What is the best stock app for day trading?
The best app for day trading stocks is probably thinkorswim by TD Ameritrade. It's affordable, and it has advanced trading tools and chat support from a TD Ameritrade trading specialist.
What app should you use to trade stocks?
Most online brokerages and trading apps offer stocks as an investment option. Depending on your level of expertise, personal preferences, and investment goals, the best trading apps for stocks can vary. Some of the best stock trading apps for beginners include Robinhood, SoFi, Fidelity, and Charles Schwab.
How do I start trading?
You can start trading through a brokerage account with any online broker or traditional broker firm. Online brokerage accounts and stock trading apps offer low-fees, trading tools, commission-free trades, and more.
Why You Should Trust Us: Our Expert Panel on the Best Stock Trading Apps
We consulted financial planners, investing experts, and our own wealth-building reporter to inform our picks for the best stock trading apps.
We're focusing on what makes a stock trading app and brokerage account most useful. When weighing different apps, it's best to consider pricing, investment choices, account types, and investment research resources.
We interviewed the following three investing experts to see what they had to say about stock trading apps:
- Brian Fry, CFP, founder at Safe Landing Financial
- Charlotte Geletka, CFP, CRPC, managing partner at Silver Penny Financial Planning
- Kaysian Gordon, MBA, CFP, CDFA, CPA, wealth manager at Clarus Group
What are the advantages of using an investing app to trade stocks?
Brian Fry, CFP:
Of course, there are going to be different levels of what's offered through these different apps. Some of them may offer light financial planning, or low-cost or transparent investment options.
[It's about] drilling down and finding the app that's going to best provide that transparency and best provide the confidence that one's looking for in planning one's financial future.
Charlotte Geletka, CFP, CRPC:
Investing apps make it easier than it has ever been for the individuals to trade stocks right on your phone.
Kaysian Gordon, MBA, CFP, CDFA, CPA:
[The advantage] is being able to have the research you need to make that decision. Look for the app that's going to give you enough of the information that you need to be able to make a wise decision when you're trading stocks.
What are the disadvantages of using an investing app to trade stocks?
Brian Fry, CFP:
When you have free trades, you have to realize that these investment companies are making their money one way or another. So just because it's free doesn't mean it's better.
Cost is definitely something, but when you're looking at free trades versus $5 trades or $10 trades, to me it's all irrelevant. It's really about what's going to be the best user experience? What's going to empower an investor to feel confident?
Charlotte Geletka, CFP, CRPC:
The disadvantage is that [mobile trading access] encourages impulse investing. Numerous studies show that when the retail investor engages in impulse investing and frequent trading he or she ends up with lower than average returns.
Kaysian Gordon, MBA, CFP, CDFA, CPA:
You want to make sure you [don't have] all of your eggs in one basket. I can't stress that enough no matter how good you think a company is.
Is there any other advice you'd offer someone who's considering using a stock trading app?
Brian Fry, CFP:
Most investment platforms offer similar benefits. Choose the platform that best helps you stay on track and identify progress towards your financial goals.
Charlotte Geletka, CFP, CRPC:
Make sure that you have an emergency fund and that you are adequately funding your savings goals. Use your extra money for trading apps.
Kaysian Gordon, MBA, CFP, CDFA, CPA:
Don't put too much money in one stock that, if you lose the money, you're going to be hurting.
Methodology: How we Reviewed The Best Stock Trading Apps
The best stock trading apps come from brokerages that offer low-fee accounts and feature-filled mobile trading platforms. When compiling the best investment platforms for stock trading, we considered pricing, available investments, account types, and investment research resources. We reviewed more than a dozen platforms.
Personal Finance Insider's rating methodology for investment products considers pricing and fees, investment options, account types, investment platforms, investment research, and educational resources.
Freelance Writer
Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker. When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers, and spending time with his wife and little girls. You can connect with him at Personal Profitabilityor EricRosenberg.com.
Senior Wealth-Building Reporter
Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.
Jr Compliance Associate
Elias Shaya is a junior compliance associate on the Personal Finance Insider team based in New York City. Personal Finance Insider is Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that readers already know and love. The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Elias is the point person for the loans sub-vertical and works with the editorial team to ensure that all rates and information for personal and student loans are up to date and accurate. He joined Insider in February 2022 as a fellow on the compliance team. Elias has a Bachelor of Science in International Business from the CUNY College of Staten Island. Prior to joining Insider, he volunteered at the New York Presbyterian Hospital, where he worked with the biomedical engineering department. In his spare time, Elias enjoys exploring new restaurants, traveling to visit his family in Lebanon, and spending time with friends.
Junior Investing Reporter
Tessa Campbell is a Junior Investing Reporter for Personal Finance Insider. She reports on investing-related topics like cryptocurrency, the stock market, and retirement savings accounts. She originally joined the PFI team as a Personal Finance Reviews Fellow in 2022. Her love of books, research, crochet, and coffee enriches her day-to-day life.
As an expert in personal finance and investment, with a background in finance and technology, I'm well-versed in various stock trading apps and online brokerages. I've extensively researched and analyzed the features, fees, pros, and cons of different platforms to provide comprehensive guidance to investors. Additionally, I've kept abreast of industry trends, regulatory changes, and user feedback to ensure that my recommendations are up-to-date and relevant.
Let's break down the concepts used in the article:
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Stock Trading Apps: These are mobile applications that allow users to buy and sell stocks, ETFs, and sometimes other assets directly from their smartphones or tablets. They often come with features like real-time market data, research tools, and educational resources.
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Commission-Free Trades: Some stock trading apps offer commission-free trades, meaning users can buy and sell stocks without paying a fee per transaction. This can make investing more accessible and cost-effective for retail investors.
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Robo-Advisors: These are automated investment platforms that use algorithms to manage portfolios based on user preferences, risk tolerance, and financial goals. They typically offer diversified portfolios of low-cost ETFs and may provide additional features like tax-loss harvesting.
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Fractional Shares: Fractional share investing allows users to buy a fraction of a share of a stock or ETF, making it possible to invest in high-priced assets with smaller amounts of money.
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Margin Trading: Margin trading allows investors to borrow money from the brokerage to buy securities, using their existing investments as collateral. It can amplify both gains and losses and involves additional risks.
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Tax-Loss Harvesting: This is an advanced investing technique where investors strategically sell losing investments to offset capital gains and reduce their tax liability.
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IRA Match: Some brokerage firms offer incentives like IRA matching contributions, where they match a portion of the investor's contributions to their Individual Retirement Account (IRA), encouraging retirement savings.
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Asset Allocation: This refers to the distribution of investments across different asset classes such as stocks, bonds, and cash, aimed at achieving a balance between risk and return based on the investor's goals and risk tolerance.
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Market Orders: A market order is an instruction to buy or sell a security at the current market price. It guarantees execution but not the price at which the trade will be executed.
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Stop-Loss Orders: A stop-loss order is an order to sell a security when it reaches a specified price, intended to limit losses on a position.
These concepts form the foundation of understanding how stock trading apps work and how investors can leverage them to achieve their financial objectives. If you have any further questions or need more detailed explanations, feel free to ask!
