Trading stocks used to be a daunting experience for investors ages ago. Investors would pay exorbitant fees for stockbrokers to execute their trades. Fortunately, the advent of stock trading apps, anyone can trade stocks at their convenience, without breaking the bank. However, with the increasing number of investment apps, investors find it hard choosing a functional app that suits their trading style.
To make it easy for you, here is a comprehensive review of the best stock trading apps:
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E-Trade
E-Trade is an award-winning stock trading app that features innovative capabilities designed to improve users’ experience. The app was the first of its kind to offer users the ability to compare their portfolio performance to major market indices. With its recently added tools, you can also set up intricate trading strategies, such as the iron condor, to stream options data to your device. Additionally, the app also features robust education resources that are available for free to all beginners. For those interested in trading other asset classes such as ETFs, options, and IRAs; you will certainly find this app handy. Adding this capability to the numerous features, it is clear why the app’s subscription fee is slightly higher than average.
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TD Ameritrade
TD Ameritrade is a full service brokerage service app that allows you to trade stocks, bonds, and ETFs. What makes it even more attractive is its low-cost trading and maintenance fee, allowing you to maintain a diversified portfolio at no extra cost. Similar to most investment apps, the TD app offers research, information and portfolio analysis to improve your trading strategy. These tools are further enhanced by the Snapstock feature that gives you more information about the company behind any security. The app also takes data streaming a notch higher as evident from its ability to simultaneously display market data on multiple platforms. You can synchronize alerts across all streaming platforms, ensuring you keep an eye on your equity in forex trading as well as fluid stock prices.
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Robinhood
The most defining feature of this app is its 100% free trades for all users. You can buy and sell securities as well as place limit and stop-loss orders. These are unique capabilities that aren’t found in most free versions, making the app an ideal trading tool for new investors. To further enhance ease of use, the app has a pretty basic interface with minimal but handy tools. For the more experienced traders, you may consider upgrading to the premium business model. This allows you to make large deposits instantly and trade after market hours. The plan also gives you access to margin trading, meaning you can double your expected returns.
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Fidelity Investments
Fidelity investment app is built around the idea of improving overall user experience. The app is compatible with most mobile operating systems and features great navigation tools so you can trade on the go. Perhaps one of its best features is the ability to allow users to deposit funds directly into the account and transfer the funds to pay bills. The app also features industry-leading research tools and educational resources making it ideal for intermediate investors. Other features include customized news stream and chart settings, and biometric security system.
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SigFig
SigFig app comes with well-organized asset management tools that make it easy to keep your portfolio in check. It also features extensive research tools topped up by moderately high subscription fees, setting it as in ideal trading app for experienced investors. If you own multiple trading apps, you can synchronize them to this app, so you can track all your portfolios in one setting. This capability is further improved by automatic trading that reinvests your dividends and rebalances your funds for free. As a result, it saves you time and money that can be channeled back to investment.
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Summary
Stock trading apps offer unmatched efficiency to both new and experienced investors. With their functionality, traders can stay on top of the dynamic stock market and make fast trading decisions depending on the volatile prices. As such, it is important to choose the right app that not only matches your trading skills but also offer handy features for efficient trading. The above list details some of the best trading apps you can find on the market.
