There are dozens of ways to invest, and it can be quite confusing, especially for beginners. To take hold of your financial future and to start making money in the stock market, here are a few of the best apps available for stock trading.
Robinhood
Robinhood is a great app for beginning stock traders. You can trade more than 5,000 stocks and exchange-traded funds, and the standard version is entirely free. It’s easy to use and has a simple, uncluttered interface.
If you’re looking for more advanced trading options and detailed financial information or you need to make transfers quickly, you’ll want to upgrade to the paid version or one of these other apps.
TD Ameritrade
This app provides mobile trading access, real-time balances, streaming quotes, fund transfers, and current news and market research. It allows for the trading of equities, futures, options, and forex.
The TD Ameritrade app has a unique feature called Snapstock, which lets you scan a barcode or take a picture of items, then it will bring up the company name, ticker symbol, and stock quote, in addition to company news and charts. Online equity trades are $6.95 each.
E*Trade Mobile
E*Trade Mobile is an easy-to-use app that enables users to trade stocks, ETFs, mutual funds, and options. The app has real-time quotes and news from Morningstar, Briefing.com, MarketWatch, and more, in addition to CNBC Video on Demand.
The dashboard is customizable and has all the tools most traders need. The app also has a voice search function and can be connected to Apple Watch. It costs $6.95 per trade for stocks, options, and ETFs, with a $0.75 fee for options contracts and $1.50 for future contracts.
Stash
Stash lets you invest based on easily understandable themes, like technology or even environmentally responsible companies. The app makes choosing investments very easy and has a simple interface. You can start with as little as $5.
There’s a 0.25% annual management fee for balances over $1,000, and smaller balances will cost $1 per month.
Acorns
Acorns is popular with first-time investors. It’s unique in that you can link your debit or credit card and the app will round up your purchases to the nearest dollar and invest the balance. You can also set up recurring investments. Funds are spread among over 7,000 diversified stocks and bonds chosen by Harry Markowitz, a Nobel Prize winning economist. Acorns keeps investing simple and reduces risk. The fee for the app is 0.25% per year.
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