As we move towards a new global crisis, stock markets have seen an unprecedented change, impacting all investors. Learn about the best stock trading apps.
In spite of that, over the past few years, the impact of online trading apps has brought a new advantage to the world of Stock Trading.
Some investors are happy putting their money into a safe fund and letting it grow for the long term, while others are more ambitious and interested in taking a hands-on approach to managing their money with active stock trading apps.
If you’re buying or selling once in a while, or want to enter this world more actively, there are some things you should know first.
Due to market volatility and the changes in the online stock trading industry, online brokers have improved their mobile apps/trading apps. Features like an efficient automatic and capacity to trade, by the minute, sharing watch lists and alerts, as well as tools such as stock screeners, or the ability to depose checks into your account, are immensely important when choosing the best stock trading app for your unique needs. Remember that it also largely depends on your experience and trading goals.
After reviewing fees and tradable assets, we rounded up the best stock trading apps for Android or the best mobile stock trading apps (best stock trading app for beginners). But first, there is some basic knowledge you need to know.
Stock Market Basics
The Stock Market is unpredictable, mainly due to the fact that stocks are listed on a specific exchange, which brings buyers and sellers together and acts as a market for the shares of those stocks – that can be a bit of chaos for the untrained eye.
The exchange tracks the supply and demand – and directly related, the price. Nowadays, individual traders are represented by brokers, especially online brokers. You deliver your trade and they take care of the exchange, on your behalf.
The instability of the Stock Market is also due to its ups and downs – the market index. A market index tracks the performance of a group of stocks, like technology or retail companies, for example.
Investors use this index to benchmark the performance of their own trading decisions but, if you’re an investor who’s looking for a bit more action, it all comes to the main part of Stock Trading.
Buying and selling stocks frequently in an attempt to predict and time the market. The main goal is to buy stocks at a low price and capitalize on short-term market events to sell them for a high profit.
Best Stock Trading Apps for Android
The best online investing apps / best stock trading apps offer a consistent experience between desktop and mobile platforms. We gathered some of the best ones for Android, be it for beginners or advanced investors. This is just a quick rundown on their ups and downs so if you want a more detailed guide on which best Stock Trading Apps for Android are the best for you.
- TD Ameritrade: Best Stock Trading App
- Fidelity: Best for Beginners
- Tastyworks: Best for Options Trading
- Interactive Brokers: Best for Active Traders
TD Ameritrade (Stock Trading App)
Available for Desktop and Android (the best mobile stock trading app), the TD Ameritrade Mobile App is geared toward basic investing with an excellent account summary, price alerts, and a wealth of news and research. The workflow between options, stocks, and investments is intuitive and dynamic, making it more than an acceptable option for full desktop trading. Here are some of its best features:
- Provides investors with the choice between an investment-focused app and a trading-focused app. One of the best stock trading apps for beginners.
- Customers have a simple one-page experience where they can quickly check in on the markets and their accounts.
- Gives watchlists and customizations sync across all TD Ameritrade platforms, including both mobile apps.
- All available asset classes can be traded on mobile.
The downside is that the features available in the best stock trading app differ by design, meaning hybrid investors (swing traders, for example) may find themselves having to switch between the two to get access to the tools and analysis they need.
This is the best stock trading app for beginner investors and anyone with a focus on long-term or retirement investments. Provides a full service, with a wide range of account and investment types supported, like supports brokerage, retirement, or education accounts. With $0 stock and ETF trades, you get a lot of services at a low cost. The best part? No minimum deposit is required! These are some advantages:
- Investment and trading features meet the needs of most traders. It is also, among the best stock trading app.
- Support for a wide range of account types.
- Extensive research and education resources.
The only main downside this android trading app usually gets under most trading experts’ skin is the lack of charting options.
Tastyworks (Stock Trading Apps)
If your focus is mainly just on Stock Trading, Tastyworks might be the best option for you. Not only are Stock and ETF trades fee-free, but options on them only cost $1 per contract with a $10 maximum. The mobile app is best for traders with some options experience, as there are many features that can distract and overwhelm beginners. These are some of its best aspects:
- Advanced and capped fee options for trade and trading features. Known as the best stock trading app.
- Follow community members for sharing ideas.
- Many account types are supported.
The downsides of this android trading app are the fact that it’s not the cheapest per-contract fee, as well as having limited education resources, compared to major brokers.
When it comes to active trading, this best stock trading app has nearly all the functionalities of the firm’s web-based platform. Traders have the possibility to assess the market and open new positions on the go, as opposed to simply monitoring existing trades. The mobile app also has great research, excellent charts, and a wide selection of indicators. The most notable upsides include:
- The capability of mimicking the website experience with full order ability, while having extremely active scanners and alerts. you can say this is the best stock trading app.
- Intuitive trading workflow, combined with the ability to set order presets for faster entry.
- Charts come with a bunch of useful indicators for quick trading decisions.
The downside is that the data streams in real-time across only one platform at a time, even though only traders who have a multi-device approach to their workflow are affected by this limitation. We also noted the lack of drawing tools in the mobile app.
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It’s important to study your stock background and plan your investments before picking a brokerage or best stock trading app. Before you go on and choose one of these four best stock trading apps, we recommend analyzing the fees, tradable assets, available account types, and their overall dynamic – make sure they’re easy to navigate through!
Lastly, don’t forget to manage your investments on the go, trade stocks anywhere with an internet or cellular data connection, and never lose track of your portfolio or investment values.
Thanks for reading and go make some money!