The Ultimate Guide to Using Your Smartwatch for Online Stock Trading Platforms width
Best Stock Trading Apps of 2024: Your Ultimate Guide
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Stock trading apps empower investors to buy and sell securities directly from the convenience of their mobile devices. The best stock trading apps provide useful features, goal-building mechanics, and accessible trading strategies.
Best Stock Trading Apps of 2024 Summary
Top Stock Trading Apps Comparison
The best stock trading apps offer flexible trading options, customized portfolios, market research, low fees, and access to beginner-friendly and advanced trading 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.
Check out the best stock trading apps with low fees, as picked by Business Insider's editors in 2024.
Best Stock Trading App Overall
Trade your way with Charles Schwab's robust mobile trading app for stocks and other investable securities. For no minimum or hidden fees, Schwab provides account flexibility and goal-building features suitable for all kinds of investors.
The mobile stock trading app makes viewing your accounts, positions and balances easy. Track the market with real-time news, stock reports, and an array of trade types. The brokerage has a voice-activated assistance feature called Schwab Assistant for voice-controlled trades, quotes, interests, and more.
You'll also have access to the more advanced StreetSmart Mobile. It works well but isn't among the best for the most active traders. But Schwab now owns TD Ameritrade and thinkorswim, an industry leader for active traders. More on that in the next section.
Charles Schwab review
Best Stock Trading App for Active Trading
TD Ameritrade's thinkorswim is a top stock trading app for active traders. TD Ameritrade features accounts with no recurring fees and no minimum balance. It offers various accounts and investments, including some less commonly supported investments, such as futures, forex, and cryptocurrencies.
Thinkorswim gives you a nearly identical experience wherever you log in, including desktop or mobile. It features advanced charting, 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 inside the app.
Important note: Charles Schwab acquired TD Ameritrade in 2020. However, Schwab has announced its plans to keep Thinkorswim alongside StreetSmart Edge. To set up a managed account, you must do so through Schwab.
TD Ameritrade review
Best Stock Trading App for Beginners
SoFi Invest is one of the best stock market brokerages for new traders. SoFi's app is less robust than some larger competitors, which makes it easy to navigate and understand if you don't have as much market experience.
SoFi's stock trading app caters to a broad audience of investors by offering both taxable and retirement brokerage accounts. While SoFi's investment options are somewhat limited, there is a large pool of stocks and ETFs.
Moreover, SoFi offers a no-fee automated investing platform, fractional shares (aka Stock Bits), and 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. So, 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 Invest review
Best Stock Trading App for Low Fees
Vanguard is a low-cost stock trading app known for its low-cost index funds and passive management strategies. Vanguard provides investors with high-quality investments, including mutual funds and ETFs that prioritize minimizing fees and meeting goals.
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), IRAs and other retirement resources, and market research and educational resources.
Vanguard allows commission-free trading. Plus, experienced investors can trade securities on margin for the chance of higher returns. Only advanced traders should trade on margin.
In addition to its iOS and Android mobile apps, Vanguard offers trusts, 529 plans, custodial accounts, small business retirement plans, and more.
Vanguard review
Best Stock Trading App for Long Term Investing
Fidelity offers a robust selection of accounts and investment options, making it a good fit for almost any investor. The brokerage is particularly attractive for long-term and retirement-focused investors because of Fidelity's accessible buy-and-hold strategy and goal-building focus. This stock trading app lets you trade fractional shares and much more.
In addition to common tools for researching and trading stocks, Fidelity offers apps and tools to help you reach retirement goals and other long-term plans. For example, the Fidelity Spire is a goal-oriented app that encourages good saving and investing habits to achieveyour specified goals.
Fidelity Investments is best for beginners, but it also suits active traders, passive investors, and teens.
Fidelity review
Best Stock Trading App for Experts
Interactive Brokers is a great choice for expert traders looking for a slick, Wall Street-style trading platform. Sometimes called IBKR for short, Interactive Brokers offers multiple types of accounts, including ones that work well for retail investors and 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 Stock Trading App for Banking and Stock Trading
If you're interested in a straightforward investment platform that goes hand-in-hand with some of the best checking and savings accounts today, Ally could be the right fit. Ally Invest has no minimum or 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 enter a trade quickly. 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.
Investors who prefer automated portfolios might be excited 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.
Ally Invest review
Best Stock Trading App for Option Trading
Webullis a discount stock trading platform offering free options trading, expert market data, crypto trading, and much more through its user-friendly mobile app. Webull is best for beginners interested in hand-picking commission-free stocks, ETFs, and options. It also supports a handful of cryptocurrencies, like bitcoin and ether.
Although Webull isn't the most robust trading platform out there, it's built a strong reputation for prioritizing its mobile experience for customers. The app is easy to use, low cost, and offers a decent interest rate on uninvested cash.
Webull review
Stock Trading Apps FAQs
Stock trading apps are generally safe to use. Reputable apps implement advanced security protocols, such as encryption and two-factor authentication, to protect users' personal and financial information.
Some stock trading apps offer the ability to trade international stocks either directly through foreign stock exchanges or via American Depository Receipts (ADRs). Availability varies by app, so it's important to check each platform's offerings.
Most stock trading apps allow you to start trading shortly after signing up and funding your account. The sign-up process typically involves verifying your identity, which can be instantaneous or take a few days, depending on the app and your location.
Several stock trading apps have expanded their offerings to include cryptocurrency trading alongside traditional stocks, ETFs, and options. However, the availability of cryptocurrencies varies by platform.
Funding options for stock trading apps commonly include bank transfers, debit card deposits, and sometimes credit card or e-wallet transfers. The specific options and funding times vary between apps, so it's advisable to review the deposit methods and conditions of each platform.
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 provide that transparency best 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:
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:
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:
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:
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:
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:
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 user-friendly 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.
Business Insider's rating methodology for investment products considers pricing and fees, investment options, account types, investment platforms, investment research, and educational resources.
Tessa Campbell
Investing and Retirement Reporter
Tessa Campbell is an investing and retirement reporter on Business Insiders personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.Experience
Tessa currently reports on all things investing deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insiders guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise:
Tessas expertise includes:- Credit cards
- Investing apps
- Retirement savings
- Cryptocurrency
- The stock market
- Retail investing
Education:
Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When shes not digging into a financial topic, youll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisement, and it worked.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.
Elias Shaya
Compliance Associate
