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This is a quick look at the Best Stock Trading Platforms and Apps 2023/2024 that can help you predict the performance of major companies and capitalise on their stock prices’ movements. With the information on this article, you can easily Trade Shares, Indices and Stocks Commission for free as a beginner with no deposit fees. You can also access the premium versions for the professional traders in the world.
Investors in the US are increasingly utilizing top-rated stock trading apps alongside their online brokerage accounts. This powerful combination enables them to buy and sell stocks from anywhere, ensuring they never miss a trading opportunity.
To assist investors in making informed decisions, we have compiled this comprehensive guide that reviews the 11 best stock trading apps for 2023. This review encompasses various aspects such as supported markets, fees, trading tools, customer service, and more.
By considering these factors, investors can choose the app that aligns best with their needs and preferences, enhancing their trading experience. Meanwhile, you can review my previous guide about the 12 Best Virtual Trading Apps for Options and Stimulators with Free Virtual Trading Without Real Money.
Best Stock Trading Apps and Platforms Reviewed 2023
These days, the leading stock trading platforms offer convenient access to stock trading apps. To create our compilation of the best stock trading apps for 2023, we carefully evaluated a variety of crucial factors. These factors encompassed aspects such as fees, commissions, supported stock markets, user-friendliness, device compatibility, and the availability of trading tools.
Many writers has written several articles on the Top trading platform in the world with an intention to draw traffic their own platform. But the question now is; what is the best and safe trading platform? This is a serious question and the answer lies in your choice.
We all know that Account Fraud is Disrupting Online Streaming Services: What is the Solution? Notwithstanding, there are still different trading platform that are safe and reliable. Below, you will find comprehensive reviews of 11 top stock trading apps, enabling you to make informed decisions about the app that best suits your needs.
Note: Your capital is at risk. 50-79% of retail investor accounts lose money when trading CFDs with any of these provider. This article is not a financial or legal advice, please contact your lawyer or accountant for advice. Read about how to protect yourself below:
- How to Prevent Fraud on Credit Card with Identity Theft Detection
- How to Prevent & Fix HTTP Parameter Pollution in Web Server, PHP, JAVA
- Prevent Yourself from Falling into Charity Scam & Fraud while Trading
- Get Fraud Detection Algorithms Using Machine Learning and AI
11 Best Stock Trading Apps in 2023
A list of the top stock trading apps in the market can be found below.
- Webull – Top Stock Trading App with 0% Commission on US-Listed Stocks
- XTB Brokers – Leading CFD Broker with more than 2,000 Global Stocks
- Interactive Brokers LLC – Popular Trading App with Advanced Trading Tools
- Charles Schwab – Preferred Stock Trading App for Seasoned Investors
- Fidelity Investment – Best Stock Trading App to Prepare for Retirement
- SoFi – Top Trading App for Crypto Investment
- Ally Invest – Trading App also Offering Banking Services and Loans
- E*TRADE – Top Trading App for Long-Term Investment Portfolio
- TD Ameritrade – Leading Trading App for Experienced Investors with Advanced Features
- Robinhood – Best Stock Trading App for Beginners
- eToro – Most likely the overall Best Stock Trading App in 2023
1. Webull – Top Stock Trading App with 0% Commission on US-Listed Stocks
Webull is a highly popular stock trading app that is optimized for both web platform, iOS and Android smartphones. The Webull app can be downloaded for free from Google PlayStore or on App store. All users are required to register an account and provide identification before they can begin trading stocks.
They have different types of brokerage accounts to satisfy your different investment objectives. They are Webull Traditional, Roth or Rollover IRA and Individual brokerage account. This account allows you to buy and sell securities and assets.
In order to verify your identity, a government issued ID card with your photo, name, and date of birth is required to open an account with Webull. Make sure you have the documents prepared in advance before sign up.
There is no minimum deposit requirement, and funds can be transferred through ACH or domestic bank wire.
While ACH transfers are free of charge, domestic bank wires incur fees of $8 for deposits and $25 for withdrawals. Once your Webull account is set up, you gain access to a wide range of US-listed stocks, covering virtually all equities listed on the NYSE and NASDAQ. Additionally, the app provides access to a limited number of ADRs, offering exposure to large-cap stocks listed overseas.
In terms of fees, Webull allows you to buy US-listed stocks on a commission-free basis, but ADRs do have additional fees. The Webull trading app also features a fractional ownership tool, enabling users to buy stocks with as little as $5 per trade.
Webull Trading Options
Beyond stocks, the Webull app supports ETFs, cryptocurrencies, and options trading. While many traders prefer the self-directed trading plan, Webull also offers various retirement account options in the form of IRAs. The app includes a range of charting tools, catering to short-term day traders seeking to speculate on stock options.
Given that both Webull rank highly, you may find our comprehensive review comparing eToro and Webull of interest. This comparison article provides detailed insights into key metrics, fees, features, account types, and more for these platforms.
| Minimum Deposit | $0 |
| Fractional Shares? | Yes – $5 minimum |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
2. XTB – Leading CFD Broker with more than 2,000 Global Stocks
X-Trade Brokers popularly known as XTB, is a CFD broker, that allows trading on over 2,100 global stocks. When trading CFDs, traders speculate on stock price movements without owning the underlying shares. Stock CFDs enable easy long or short positions and offer leverage up to 10:1 at XTB.
The mobile trading app, xStation 5, provided by XTB, is highly impressive. It is compatible with iOS and Android devices, offering a range of technical analysis tools. Traders can customize charts, access technical studies, utilize drawing tools, set price alerts, and more. Notably, they can enter trades directly from the charting window to seize opportunities promptly.
At XTB, all stock CFD trades have zero commissions. Traders only pay the spread, which typically averages around 0.3% for most US stocks. Opening an account with XTB requires no minimum deposit, and traders can practice stock trading using the free demo account offered through the xStation 5 mobile app.
About XTB International Limited – Best Stock Trading Platforms + Apps
XTB International Limited (XTB) is authorised and regulated by the Financial Services Commission in Belize. (FSC License No.: 000302/438). XTB is registered in Belize under Registered Number 153,939 Company address: 35 Barrack Road, 3rd Floor, Belize City, Belize, C.A
XTB is a trademark of XTB Group. The company includes but is not limited to following entities:
- XTB S.A. is authorised and regulated by the Komisja Nadzoru Finansowego (KNF) in Poland
- XTB Limited is authorised and regulated by the Financial Conduct Authority in United Kingdom
- XTB Sucursal is authorised and regulated by the Comisión Nacional del Mercado de Valores in Spain
| Minimum Deposit | None |
| Fractional Shares? | No |
| Pricing System | 0% commission on all stock CFDs |
| Cost of Buying Amazon Stock | Spread only |
3. Interactive Brokers LLC – Popular Trading App and Web Platform with Advanced Trading Tools
Interactive Brokers stands as one of the leading stock trading apps available. It is an award winning platforms for every investor from beginner till advanced on mobile, web and desktop. Its proprietary IBKR mobile app is compatible with iOS and Android, offering advanced trading features.
They have Free Trading Tools to spot market opportunities, analyze results, manage your account and make better decisions with our free trading tools. The IBKR app boasts numerous technical indicators, institutional-grade research tools, real-time market information, and over 50 data columns. Despite catering to advanced traders, the platform’s user-friendly design ensures seamless navigation for buying and selling stocks.
Interactive Brokers shines in terms of supported markets, granting access to stocks from over 30 countries. Alongside stocks, the platform supports index funds, bonds, ETFs, financial derivatives, gold, and upcoming IPOs. They also have real-time trade confirmations, margin details, transaction cost analysis, sophisticated portfolio analysis and more.
The Interactive Brokers stock trading app operates on a low-fee policy. Commissions are waived when trading US-listed stocks, but fees apply for non-US assets—remember to verify this before placing an order. Additionally, Interactive Brokers does not impose a minimum deposit requirement for standard self-directed accounts.
| Minimum Deposit | $0 |
| Fractional Shares? | Yes – $1 minimum |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
4. Charles Schwab – Preferred Stock Trading App + Web Platform for Seasoned Investors
Schwab, a well-established US-based brokerage firm, offers a low-cost environment for trading thousands of assets. While it takes a few days to open an account, once set up, you can download the Schwab mobile app on iOS or Android to trade stocks at 0% commission.
However, this commission-free trading is only applicable to US-listed stocks. If you choose to buy stocks listed overseas, additional fees will be charged. The Schwab stock app provides a user-friendly interface, particularly for executing buy and sell orders.
While Schwab is favored by experienced investors with substantial capital, it also offers fractional share trading tools. This allows you to buy stocks from the S&P 500 for as little as $5 per trade, even for high-priced equities like Amazon, without risking large sums of money.
Moreover, the Schwab mobile app provides easy access to diversified portfolios. Thematic stock lists cover various markets, including active lifestyle, blockchain, cybersecurity, social networking, caffeinated drinks, and more. Importantly, there is no minimum deposit requirement when opening a standard account with Schwab.
| Minimum Deposit | $0 |
| Fractional Shares? | Yes – $5 minimum |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
5. Fidelity Investment – Best Stock Trading App and Web Platform to Prepare You for Retirement
Fidelity Investment is a stock trading app available in the market as one of the best online broker for Beginning Investors. Fidelity Investments offers Financial Planning and Advice, Retirement Plans, Wealth Management Services, Trading and Brokerage services, and a wide range of others.
The trading company offer you the Stocks by the Slice tool that allows you to buy and sell US-listed stocks from as low as $1 per trade. This feature is especially beneficial for purchasing expensive stocks like Amazon.
Fidelity has different types of trading account; a Rollover, Traditional, or Roth IRA—it only takes a few minutes to open an account. They provide planning and advice from complex wealth management to your retirement needs, we can help you with financial planning.
They have a straightforward pricing with no account fees, $0 commission trades, and no minimums to open an account. You can get easy-to-use tools and the latest professional insights from our team of specialists if you choose them.
Beyond stocks, the Fidelity app provides access to a wide range of asset classes, including bonds, ETFs, mutual funds, and options. It also offers access to upcoming IPOs and the opportunity to join a managed portfolio, which may require higher account minimums based on the chosen strategy.
Types of Fidelity Investment Trading Account
For standard self-directed accounts, there is no minimum deposit requirement. The Fidelity mobile app is available for both iOS and Android devices, providing access to retirement accounts such as Traditional, Rollover, and Roth IRAs. Fidelity also offers a helpful comparison tool to assist in selecting the appropriate IRA option.
The Fidelity app allows users to access international stock exchanges, each with its own pricing structure. Additionally, Fidelity provides real-time financial news to keep users informed about important market developments.
| Minimum Deposit | $0 |
| Fractional Shares? | Yes – $1 minimum |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
6. SoFi – Top Trading App for Crypto Investment
SoFi is a personal financial company that provides various account options that grant access to a wide range of US-listed stocks. They also offer support for cryptocurrencies like Bitcoin and DogeCoin, ETFs, and participation in upcoming IPOs. They specifically deal on Online Banking, Loans, Invest, Credit Card, and Mortgages.
Trading stocks on the SoFi mobile app incurs no trading commissions, and you can invest in any US-listed stock with just $5. There is no minimum deposit requirement when setting up an account, and the verification process typically takes less than 10 minutes from start to finish.
SoFi is known for its integration of trading and banking services within a single app, appealing to investors seeking a comprehensive platform. The app offers digital checking accounts as well as loan, mortgage, and auto financing services.
The SoFi app also features automated investing accounts, which employ a diversified investment strategy based on your stated long-term financial goals and risk tolerance. The underlying algorithm constructs a portfolio tailored to your objectives.
| Minimum Deposit | $0 |
| Fractional Shares? | Yes – $5 minimum |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
7. Ally Invest – Trading App also offering Banking Services and Loans
Ally Invest is a self-directed online trading & automated Investing and stock broker company. It is specifically for investors who want to manage their own portfolio, you can start trading stocks and ETFs for $0 commissions with no account minimums. But they require a minimum opening purchase of $100.
They provide excellent service in all aspects of banking, investing, home loans, and auto finance. Their dedication ensures that we always prioritize your needs and strive to deliver the best possible outcomes for you.
Ally Invest financial company is a direct competitor to SoFi, as it offers a mobile app that provides access to an investment suite, banking services, and loans.
It’s important to note that Ally Invest does not support fractional shares, so if you want to buy expensive stocks like Amazon or Tesla, you will need to purchase the full equity. However, Ally Invest does support automated Dividend Reinvestment Plans (DRIPs), which allow for portfolio growth through compound interest.
Ally Invest has a 0% commission policy on all supported stocks and ETFs, although fixed-rate bonds and mutual funds on the app may have additional fees. The app also offers robo portfolio services, enabling the construction of a diversified portfolio aligned with your financial goals. This service is managed and maintained on your behalf, allowing your investments to work for you.
Additionally, the Ally Invest stock app provides margin trading facilities, which can be useful for amplifying your investment capital.
| Minimum Deposit | $0 |
| Fractional Shares? | No – not supported |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
8. E*TRADE – Top Trading App for Long-Term Investment Portfolio
E*TRADE is Investing, trading & retirement platform where account holders enjoy $0 commissions on online US-listed stock, ETF, mutual fund, and options trades with no account minimums. It is listed among the best-in-class options trading. Their options tools allows you customize chain views and visualize risk/reward probabilities at glance.
From the app and trading platform, you can learn how to buy and sell stocks with E*TRADE. They usually provide you the education, analysis, guidance, and tools you need to find stocks that are right for you.
Therefore, if you’re considering a long-term investment portfolio for your retirement, E*TRADE provides an excellent stock investment app. They offer various account options, including Beneficiary, Rollover, Roth, and Traditional IRAs. You can even open an IRA for your children.
In addition, E*TRADE is suitable for opening a standard self-directed brokerage account, as there is no minimum deposit requirement. They provide access to a wide range of commission-free US-listed stocks. However, it’s important to note that ETRADE doesn’t support fractional shares, so keep that in mind when considering signing up.
| Minimum Deposit | $0 |
| Fractional Shares? | No – not supported |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
9. TD Ameritrade – Leading Trading App for Experienced Investors with Advanced Features
TD Ameritrade is best online stock trading, brokerage for online stock trading, long-term investing, and retirement planning. They are a leading trading app known for its advanced features, making it popular among experienced investors.
They have a wide Product Range that are diversified investment choices, all in one place. Transparent pricing commission-free, online trading and no hidden fees. Innovative Tools fr free, powerful trading platforms for every kind of investor. The company has dedicated support and award-winning, professional service when you need it most.
Take on the market with our powerful platforms
You can trade without trade-offs. Their desktop, web, and mobile platforms are built for all levels of investors. Users can stay on top of it with the TD Ameritrade Mobile app. The app which is available for both iOS and Android devices, provides access to a wide range of stocks, ETFs, and options markets. The app provides a solid menu of assets, trading resources, and educational content.
According to them, there’s no ROI on TMI. This is the reason why TD Ameritrade created a learning experience that is customizable to give you the information you need, and none of the information you don’t.
You can easily monitor the markets and your positions at a glance on the Dashboard page, deposit funds with mobile US-listed markets can be traded without any commission fees, while international exchanges come with additional charges.
It’s important to note that TD Ameritrade, like Ally Invest and E*TRADE, does not support fractional trading. Therefore, stocks must be purchased in full increments. The app offers multiple technical indicators, chart drawing tools, and real-time pricing quotes.
Generally, account holders can also create watchlists and receive alerts on their smartphones. Additionally, the app provides educational tools, catering to both seasoned traders and those looking to enhance their knowledge.
| Minimum Deposit | $0 |
| Fractional Shares? | No – not supported |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
10. RobinHood – Best Stock Trading App for Beginners [Free and Premium]
Robinhood is a stocks and crypto trading app Trade stocks, options, ETFs, with Robinhood Financial & crypto with Robinhood Crypto, all with zero commission. Their commission-free investing app, and tools can to help shape your financial future.
The Robinhood is a highly regarded investment app available on both iOS and Android devices. The is renowned for its user-friendly interface and cost-effective approach, making it an excellent choice for beginner investors.
The app provides commission-free trading in all supported markets, including US-listed stocks, cryptocurrencies, options, and ETFs. While a limited number of ADRs are also available, they come with extra fees. Opening a verified account with Robinhood is a quick process, requiring no minimum deposit, and allowing trades as low as $1.
Robinhood is particularly appealing to budget-conscious individuals, with the app supporting both Android and iOS devices. Instant deposits are capped at $1,000, with the remainder credited after a few days. Some time ago they introduced the new Robinhood Cash Card—it’s the debit card with weekly rewards that helps you invest when you spend.
For higher limits and enhanced features, the Robinhood Gold account is available for a monthly fee of $5. With a Robinhood Gold account, users gain access to margin trading capabilities and additional research tools. You can sign up and get your first stock free. Limitations and fees may apply.
| Minimum Deposit | $0 |
| Fractional Shares? | Yes – $1 minimum |
| Pricing System | 0% commission on US-listed stocks |
| Cost of Buying Amazon Stock | Spread only |
11. eToro – Overall Best Stock Trading App in 2023
eToro is a financial service and investment company that trades stocks, Cryptocurrency and trading CFD by allowing eToro Traders to invest on a trusted multi-asset platform. In full explanation, eToro is an Israeli social trading and multi-asset investment company that focuses on providing financial services. You can easily get ideas from 30Million other users, practise with a demo account or copy top-performing traders automatically.
eToro, is among the top choice for a stock trading app, is available for free on iOS and Android devices. You can download the app from Google Play Store or Apple Store. It offers an extensive range of assets and provides access to various international stock exchanges.
This includes markets in the UK, Canada, Germany, Hong Kong, Spain, Saudi Arabia, and more, making it a suitable option for those interested in both US and foreign-listed stocks. eToro also offers a diverse selection of market categories, including meme stocks, cheap stocks, blockchain stocks, dividend stocks, cannabis stocks, and top oil stocks like Exxon-Mobil and BP.
eToro Trading Platform Features
The platform supports trading in multiple asset classes, including stocks, cryptocurrencies, ETFs, forex, commodities, and indices. For experienced forex traders, eToro provides MT4 and MT5 platforms known for their advanced charting capabilities. The eToro app allows users to buy stocks and ETFs without paying commissions, both for US and international markets. Fractional shares are supported, requiring a minimum investment of only $10.
eToro’s user-friendly app mirrors the simplicity of the main website. It offers a convenient search bar to find specific stocks and also features a copy trading functionality, enabling users to replicate the trades of verified eToro investors. Additionally, eToro provides smart portfolios that track specific markets and industries such as technology, driverless cars, and energy, catering to passive investors.
To begin using the eToro app, you need to register an account and make a minimum deposit of $10. Supported payment methods include debit and credit cards, PayPal, Skrill, Neteller, ACH, and bank wires. US-based customers enjoy fee-free transactions, and eToro operates under stringent regulatory standards, ensuring a secure and reliable trading environment.
Copy eToro Top Investors and Traders
With eToro’s innovative CopyTrader™, you can automatically copy the moves from other investors. Simply find investors you believe in and replicate their actions in real time.
You can as well join the eToro Community. It has access to collective wisdom of millions of investors is at your fingertips. From there, you can Learn, share your experience and join the conversation. Lastly, you can grow by building connections leads to building confidence.
One notable advantage of eToro is its zero-commission trading feature, which can significantly reduce trading costs. This feature makes it an attractive choice for investors looking to maximize their returns without incurring additional fees.
| Minimum Deposit | $10 |
| Fractional Shares? | Yes – $10 minimum |
| Pricing System | 0% commission on all stocks |
| Cost of Buying Amazon Stock | Spread only |
Best Stock Apps Comparison
For a complete overview of the providers we reviewed above, check out our comparison table of the best stock market apps for 2023.
| Stock Broker | Minimum Deposit | Fractional Shares? | Pricing System | Fees & Charges | Features |
| eToro | $10 | Yes – $10 minimum | 0% commission on ALL real stocks | No Deposit fees, $5 withdrawal fee, $10 inactivity fee, no account management fees. | Social trading platform with over 20m usersAdvanced copy tradingProfessionally managed investment portfolios |
| Webull | $0 | Yes – $5 minimum | 0% commission on US-listed stocks. Regulatory Transaction Fee – Sells only. $0.0000051 * Total $ Trade Amount(Min $0.01) | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Mulitple IRA accountsExtended trading hoursAdvanced charting tools |
| XTB | $0 | No | 0% commission on all stock CFDsSpread (approx. 0.3%) | Zero deposit or withdrawal fees, $10 inactivity fee, no account management fees. | Advanced charting toolsTrade CFDs with 10:1 leveragePrice alerts |
| Interactive Brokers | $0 | Yes – $1 minimum | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Comprehensive report & analysisSupports algorithmic tradingWide variety of account types for retail & professional traders |
| Schwab | $0 | Yes – $5 minimum | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Helpful trading education resourcesStreaming data, news, charting, and studiesOffers savings accounts and financial planning |
| Fidelity | $0 | Yes – $1 minimum | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Professional investing insightsWealth management servicesReal time alerts, news, and in-depth charting |
| SoFi | $0 | Yes – $5 minimum | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Supports automated investingMember community with events and experiencesReal time news and curated content |
| Ally Invest | $0 | No – not supported | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Offers free automated investing accountsProbability calculator, 8 chart types, watchlistsSecurities income program for earning interest |
| E*TRADE | $0 | No – not supported | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Variety of managed portfoliosDetailed tutorials and videosPowerful charting and risk analysis tools |
| TD Ameritrade | $0 | No – not supported | 0% commission on US-listed stocks | Zero deposit fees, ACH withdrawal fees, inactivity fees and no account management fees. | Access to independent third party researchProfessional tools and idea generationIntegrate financial news for Yahoo |
| Robinhood | $0 | Yes – $1 minimum | 0% commission on US-listed stocks | Zero deposit fees, withdrawal fees, inactivity fees and no account management fees. | Cash card with weekly rewardsMultiple learning resourcesDaily podcast and financial news |
*at time of writing.
Features of the Best Stock Apps
If your aim is to find the top cybersecurity stocks or the most in-demand tech stocks, it would be wise to evaluate the stock trading apps at your disposal based on a few essential metrics. Here are some features worth considering:
Safety and Trust
Every single one of the ten stock apps we examined on this page has been authorized to provide brokerage services to clients in the United States. As a result, you can select any of these providers for your stock trading requirements without any concerns about the security of your funds.
Supported MarketsSupported Markets
Every stock investment app we evaluated grants you access to a wide range of US-listed shares available on the two primary exchanges in the US, namely the NYSE and NASDAQ.
Regarding international diversification, it’s important to note that while some of the discussed stock investment app providers do not provide access to foreign exchanges, some offer American Depositary Receipts (ADRs).
However, eToro stands out by offering access to over a dozen foreign exchanges, including those in Europe and Asia. What’s more, eToro allows you to purchase international stocks with zero commission fees, even if you are located in the US.
Fees and Commissions
All the stock apps we discussed today provide the option to open a standard self-directed account that is free to maintain. However, it’s important to consider that fees may apply when making a deposit.
For instance, at Webull, bank wire deposits incur an $8 charge. Keep this in mind if you plan to invest small amounts.
It’s important you note that all the providers on our list of top stock apps for 2023/2024 offer commission-free access to US-listed shares.
However, as mentioned earlier, all stock apps, except for eToro, will impose a commission when you choose to purchase foreign stocks.
Account Types
If you prefer a casual approach to buying and selling stocks, a standard self-directed account would likely be suitable for you. In this type of account, you would be responsible for selecting your own stocks.
However, it’s worth noting that several of the stock apps we reviewed today provide various alternative account options. For instance, at Webull, you have the option to open a retirement account, including different types of IRAs.
Additionally, many stock app providers offer managed portfolios as well. For instance, eToro grants access to numerous smart portfolios that are internally managed. This means that eToro will regularly rebalance and adjust your smart portfolio to ensure it aligns with the investment strategy you have chosen.
Fractional Shares
The Fractional shares are a valuable feature that enables users to purchase a small portion or fraction of a single stock. This functionality is particularly beneficial for those operating on a limited budget.
For instance, let’s consider Alphabet stocks which are currently trading at nearly $3,000 per share. However, with a fractional sharing stock app, you have the ability to purchase a percentage of a share, making it more accessible and affordable.
Furthermore, the top penny stock trading apps also provide the opportunity to trade shares of smaller or start-up companies, expanding the investment options available to users.
Alternative Assets
Experienced traders often seek to hedge their stock investments by diversifying into other asset classes.
Therefore, the top stock investing apps in the market offer access to a wide range of investment options, including index funds, ETFs, mutual funds, bonds, commodities, and more.
However, it’s important to note that fees may apply to non-stock and ETF investments. Brokers often charge additional fees for alternative assets, so it’s crucial to thoroughly check and understand the fee structure associated with these investments.
Mobile Experience
Throughout our analysis, we discovered that all 11 providers on our list of the best online stock trading apps offer a mobile experience on both iOS and Android platforms.
However, we observed that certain stock apps are more suitable for beginners, while others cater to those with previous trading experience.
For instance, platforms like eToro, Robinhood, and Webull are highly recommended for first-time investors due to their user-friendly interfaces. Buying a stock on these apps is as simple as searching for the desired company and entering the desired investment amount.
On the other hand, stock apps like Interactive Brokers and TD Ameritrade are favored by seasoned investors who require access to advanced data and analysis tools for in-depth research and decision-making.
Copy Trading
Another significant feature we encountered during our review of the best stock apps for 2023 is copy trading. This functionality allows users to replicate the exact trades of skilled and experienced investors. For beginners who are looking to invest but have limited knowledge of the markets, this feature can be immensely valuable.
By utilizing copy trading, novice investors can benefit from the expertise and strategies of more seasoned traders, making it easier for them to participate in the market with potentially better-informed decisions. This feature offers an opportunity to learn from successful traders and gradually gain confidence and understanding in the investment process.
Margin Facilities
Many of the stock apps we have discussed on this page provide access to margin trading facilities. This feature allows you to trade with more capital than the amount available in your brokerage account.
However, it’s important to note that according to the rules set by the U.S. Securities and Exchange Commission (SEC), maintaining a minimum account balance of at least $2,000 is required in order to access margin trading. This requirement ensures that investors meet a certain level of financial stability and risk management when engaging in margin trading activities.
Trading Tools
Trading tools play a crucial role in scanning the stock markets and assisting in predicting future price movements. The top stock analysis apps we encountered provide a wide range of features, including technical indicators, chart drawing tools, stock screeners, and market insights.
Technical indicators aid in analyzing price trends and patterns, helping traders make informed decisions. Chart drawing tools enable users to annotate and study charts for better visualization and analysis. Stock screeners allow for filtering stocks based on specific criteria, helping traders identify potential investment opportunities. Market insights provide valuable information and analysis on market trends, news, and events that can impact stock prices.
By making use of these comprehensive trading tools, investors gain access to a wealth of information. They can also analyse more to support their decision-making process and improve their understanding of the stock markets.
Minimum Deposit
As mentioned earlier, the best stock trading apps offer the convenience of buying fractional shares with just a few dollars. However, it’s important to verify whether your chosen trading app has any minimum deposit requirements.
In most cases, standard self-directed accounts allow you to get started with any amount you prefer, giving you flexibility in your investment choices. However, if you opt to open a retirement account or invest in a managed portfolio, you may encounter higher minimum deposit requirements.
Retirement accounts and managed portfolios often necessitate a higher minimum deposit to ensure the account is appropriately funded for long-term investment goals. It’s essential to review the specific requirements of the trading app you choose to determine the minimum deposit for the account type you wish to open.
Demo Account
Several free stock trading apps available in the market provide the opportunity to trade risk-free using a dedicated demo account. These demo accounts typically replicate live market conditions, allowing users to practice trading strategies without the need to invest real money.
Having access to a demo account is especially valuable for beginners, as it allows them to familiarize themselves with the platform, test different trading strategies, and gain confidence in their decision-making abilities before committing actual funds.
The best stock trading apps for beginners will offer demo accounts that cater to both novice traders and those with more experience. This ensures that users at all levels of expertise can benefit from the educational and practice opportunities provided by the demo accounts. When choosing a stock app, it is important to consider the availability and suitability of a demo account for your needs.
Onboarding Times
It is important to be aware that there can be significant differences in the waiting period before you can begin trading with a new brokerage account.
This disparity is primarily due to the onboarding process, which involves the stock app provider verifying your identity for anti-money laundering compliance.
For instance, when registering with established providers such as Interactive Brokers or TD Ameritrade, it may take several days for your account to be fully verified.
On the other hand, new-age stock app providers like eToro or Webull often have an expedited onboarding process. With these platforms, your ID documents are typically verified in less than five minutes. This efficiency is achieved through automated procedures, enabling a faster verification process.
Understanding these differences in onboarding times can help you plan accordingly when selecting a stock app based on your trading preferences and timeline.
Payment Methods
All the free stock trading apps we discussed today offer convenient options for depositing and withdrawing funds. These typically include ACH (Automated Clearing House) transfers or domestic bank wire transfers.
In addition to these methods, some providers also support third-party transfers and checks as additional options for depositing or withdrawing funds from your account. These various options provide flexibility for users to choose the most suitable and convenient method for managing their funds within the stock trading app.
Customer Service
When selecting a stock app, it is crucial to consider the level of customer service provided by the platform. Take into account factors such as the availability of customer support and the available contact options.
The top stock trading apps typically offer comprehensive customer support. It is recommended to check the hours of operation of their support team and the various contact methods available.
Ideally, the best stock trading apps will provide 24/7 customer support through live chat. This means that users can easily communicate with a human advisor by simply logging into the stock app, ensuring prompt assistance and timely resolution of any queries or concerns.
Considering the availability and accessibility of customer support is an essential aspect when choosing a stock app, as it ensures you have the necessary assistance and guidance when needed.
How to Buy and Use a Stock App in 2023/2024
If you are new to using trading apps for buying and selling stocks, the process may seem daunting at first. However, once you have selected a suitable broker, here are the steps to purchase stocks using the best stock apps:
Step 1: Open a Stock Broker Account
You can visit the preferred broker they wish to commence trading with and download the stock app. Traders will then be prompted to enter their personal information and create their account by confirming their chosen username and password.
Step 2: Upload ID
The next step involves verifying your identity by uploading a valid photo ID. Users can accomplish this by providing a copy of their passport or driver’s license, along with proof of address documentation.
Step 3: Deposit Funds to your Account
After uploading entering your biodata and your ID, the next step for users is to deposit funds into their trading account. They can select one of the available payment methods and proceed to deposit money into their account.
The available payment methods may include options such as credit/debit cards, bank transfers, or e-wallets like PayPal. Users can choose the payment method that suits them best and securely transfer funds into their trading account.
Step 4: Buy Stocks
The final step is to initiate the purchase of stocks. Users can start by searching for the specific stock they wish to buy using the search bar on the platform. After finding the desired stock, they can click “enter” to access its details.
Next, users can create a new buy order position. They will be prompted to enter the desired amount they wish to invest in the position. Once the investment amount is specified, they can proceed to confirm the transaction.
Conclusion
Selecting a stock app that aligns with your skillset and provides access to the desired markets is essential. Throughout this guide, we have emphasized the importance of low fees, comprehensive trading tools, and support for fractional shares in the best stock trading apps for 2023.
You can compare the available options and choose a suitable stock broker to commence their trading journey.
Our overall recommendation for the best stock trading app for 2023 is eToro. It stands out by offering a wide range of financial trading apps, providing one of the best mobile stock trading experiences, and catering to beginners with its user-friendly interface.
Additionally, eToro also caters to advanced traders by offering access to leading trading tools like MT4 and MT5, along with excellent customer service.
Considering these factors, eToro emerges as a top choice for both beginners and advanced traders in the realm of stock trading apps.
Frequently Asked Questions on Best Stock Apps
What is the best stock trading app?
In our comprehensive review, we have examined 11 of the best stock trading apps available in the market, each with its own strengths and weaknesses that cater to different user preferences. After thorough evaluation, we have rated eToro as the top stock trading app overall.
What is the best stock trading app for beginners?
eToro, Webull, and Robinhood are indeed among the best stock trading apps for beginners. These platforms offer user-friendly interfaces, essential features, and beginner-friendly functionalities that make them ideal choices for individuals starting their investment journey.
eToro stands out with its wide range of investment options, including stocks, cryptocurrencies, and more. Its copy trading feature allows beginners to replicate the trades of experienced investors, providing a learning opportunity while potentially earning profits.
Webull is another popular choice for beginners, offering commission-free trading and a range of educational resources. The platform provides access to a variety of investment products, including stocks, ETFs, and options.
Robinhood is similarly renowned for its user-friendly interface and easy-to-use features. The app simplifies the investing process for beginners, enabling them to start trading with ease. Robinhood also offers commission-free trades, making it an attractive option for cost-conscious investors.
All three platforms, eToro, Webull, and Robinhood, prioritize simplicity and accessibility, making them ideal choices for beginners who are just starting their stock trading journey.
What is the best free stock trading app?
While eToro is recognized as a top-notch free stock trading app, it’s important to note that many other brokers also offer free apps with various features. However, it’s crucial to be aware that fees and minimum deposit requirements may differ among these brokers.
What stock apps are legal in the US?
In this guide, we have thoroughly reviewed 11 of the best stock buying apps available in the US market. These apps have gained recognition not only for their functionality but also for their compliance with legal requirements. Each of the apps mentioned, including eToro, Webull, and Interactive Brokers, has obtained approval from the Securities and Exchange Commission (SEC) and is registered with the Financial Industry Regulatory Authority (FINRA), ensuring a regulated and trustworthy trading experience.
We are still updating this article!!! More updates coming soon.
Disclaimer:
Carefully consider the investment objectives, risks, charges and expenses before investing. Other important information about these Best stock Trading Platforms and Apps and investment company is on the related posts. Make sure you read carefully before investing.
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