Apps & Games Help You Choose
Investing in stocks has never been easier with the rise of stock buying apps. These apps make it convenient for anyone to buy and sell stocks, even for those who have no prior experience in the stock market. With so many options available, it can be overwhelming to choose the best stock buying app for your needs. In this article, we will review the top stock buying apps based on different criteria to help you make an informed decision.
Criteria for Choosing the Best Stock Buying App
Before we dive into the reviews, let’s first discuss the criteria we used to evaluate the stock buying apps. These are the essential features that every stock buying app should have:
| Criteria | Description |
|---|---|
| Commission Fees | The amount of fee charged per trade or per month for account maintenance. |
| User Interface | The ease of use and navigation of the app. |
| Account Minimums | The minimum amount required to open an account with the app. |
| Investment Options | The variety of investment options available, including stocks, ETFs, options, and mutual funds. |
| Research Tools | The availability of research tools and educational resources to help users make informed decisions. |
Top Stock Buying Apps
1. Robinhood
Robinhood is one of the most popular stock buying apps, and for a good reason. It offers commission-free trades and has no account minimums, making it an ideal choice for beginner investors. Its user interface is sleek and straightforward, making it easy to navigate for first-time users.
Robinhood’s investment options are limited to stocks, ETFs, and options. However, its research tools are impressive, with access to market data, earnings reports, and analyst ratings. Robinhood also offers a premium service called Robinhood Gold, which provides access to extended-hours trading and margin trading for a monthly fee.
2. E*TRADE
E*TRADE is a well-established brokerage firm that has been around for over 30 years. Its stock buying app offers commission-free trades and has no account minimums. E*TRADE’s user interface is user-friendly, making it easy to navigate for both novice and advanced investors.
E*TRADE’s investment options go beyond stocks, ETFs, and options to include mutual funds and bonds. Its research tools are also extensive, with access to market data, analyst research, and news articles. E*TRADE also provides a range of educational resources, including webinars and online courses.
3. TD Ameritrade
TD Ameritrade is another well-established brokerage firm with a robust stock buying app. It offers commission-free trades on stocks, ETFs, and options, and has no account minimums. TD Ameritrade’s user interface is intuitive, with a customizable dashboard and real-time market data.
TD Ameritrade’s investment options include stocks, ETFs, options, mutual funds, and bonds. Its research tools are extensive, with access to third-party research, analyst ratings, and news articles. TD Ameritrade also provides educational resources, including webinars and online courses.
4. Acorns
Acorns is a unique stock buying app that allows users to invest their spare change. It rounds up users’ purchases to the nearest dollar and invests the difference into a portfolio of ETFs. Acorns charges a monthly fee based on the account balance, making it an affordable option for beginner investors.
Acorns’ investment options are limited to portfolios of ETFs based on the user’s risk tolerance. Its research tools are minimal, with access to market data and news articles. However, Acorns provides educational resources, including articles and podcasts, to help users learn about investing.
Conclusion
Choosing the best stock buying app depends on your specific needs and preferences. Robinhood is an excellent choice for beginner investors looking for commission-free trades and an intuitive user interface. E*TRADE and TD Ameritrade are ideal options for more advanced investors who want a broader range of investment options and research tools. Acorns is a unique and affordable option that allows users to invest their spare change. With these options, investing in stocks has never been easier.
People Also Ask
What is the best app for buying stocks?
The best app for buying stocks depends on your specific needs and preferences. Robinhood is an excellent choice for beginner investors looking for commission-free trades and an intuitive user interface. E*TRADE and TD Ameritrade are ideal options for more advanced investors who want a broader range of investment options and research tools. Acorns is a unique and affordable option that allows users to invest their spare change.
What app do professional traders use?
Professional traders typically use more advanced trading platforms and software than stock buying apps. However, some brokerage firms, such as E*TRADE and TD Ameritrade, offer more advanced trading tools and platforms for their clients.
What is the safest stock buying app?
All of the stock buying apps mentioned in this article are safe and secure. They are regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to ensure the protection of investors’ assets and information.
