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5 Best Stock Trading Apps for Beginners

By: Usman Raza

 

Rear view of middle-aged trader sitting by desk in front of pc and analyzing stock market chart, while working in the office. Stock trading, people, business concept. Horizontal shot

Choosing the best stock trading platform to build investment portfolios may be challenging for beginner investors. Depending on the user’s investment goals, the appropriate trading platform better assists users with quickly examining market and company data and trading stocks with ease. For these reasons, stock traders benefit greatly from working with stock trading apps suitable for beginners. 

Moreover, these specific apps assist stock traders in reaching personal and business investment objectives. From a business perspective, some organizations rely on and reference market trends and data during operations when working with new investors and clients.

As a benefit, organizations that integrate stock trading news feeds and trading features to business profiles, social media accounts, and websites offer clients additional resources to begin smarter investments. To assist in adding stock trading features on desktop and mobile platforms, some organizations find it helpful to outsource by using a local mobile app development company.

Investment goals 

To best maximize savings and investments when trading in the stock market, it is best if investors develop specific investment goals. The reasoning behind the development of an investment goal is to ensure that the user’s conservative, moderate, or aggressive trading behaviors are strategically defined.

Types of investments 

When working with various stock trading apps, users exercise their rights to purchase stocks from a company or “common stocks.” With research and capital, investors purchase individual stocks that offer additional value in regards to dividends and capital application. For most beginner stock trading platforms, users gain access to purchasing permissions for most United States equities and exchange-traded funds (ETF) as described on the United States exchanges. 

Types of stock trade orders 

When deciding to make a specific investment into owning a particular stock from a company or index, the users select which types of stock trade orders to invest in. Put simply, the five main trader orders are Market, Limit, Stop, Stop-Limit, and Trailing Stop Orders.

However, for more advanced users, there are other things to know before you trade a single stock

Best Stock Trading Apps for beginners

In terms of user-friendliness, interface, research and data, and charting, the best stock trading apps for beginners assist both new and experienced stock investors with placing various types of trades. These trading apps feature cross-platform compatibility on iOS and Android devices. Commonly, stock trading apps require minimal capital and preparation for installation. 

1. RobinHood

Available in both desktop and mobile versions, Robinhood is compatible with both iOS and Android platforms. With Robinhood, investors establish trades through stocks, exchange-traded funds (ETF), and options. Additionally, Robinhood features crypto trading for investors. Once account setup is complete, Robinhood issues new users a complimentary stock. 

2. Acorns

As a micro-investing app, the Acorn mobile application design is targeted specifically for new investors. Through pre-determined diverse market portfolios, both iOS and Android users interact with several automation tools for easier and quicker stock trading. From the automation tools, the “round-up” feature collects data on user-daily transactions and automatically invests the spare capital. Similar to other popular investor trading mobile applications.

The Acorns automation components also include tools for reinvesting earnings from prior investments. Due to the simplicity of the interface and time-saving qualities of the Acorn app, understanding how investments fluctuate and working with personal investment makes Acorns a strong candidate for the best stock trading mobile applications. 

3. Public

As another commission-free stock trading platform, Public is a great beginner stock trading app. With initial startup fees, advanced order types like Market, Limit, and Stop Orders, and features such as fractional share investments, the Public mobile application competes with other high-quality and user-friendly stock trading apps. Additionally, the mobile app has an Integrated social community for extra support and references from friends, experts, and other investors with various discussions and updates. 

Along with the traditional features, Public provides “Themes” to assist new investors with learning about news and market trends related to finance, retail, commodity, technology, and real estate.

4. TD Ameritrade 

TD Ameritrade is available for mobile and desktop interfaces. Both iOS and Android users quickly open the TD Ameritrade app to see various trading tools for easy and fast stock trading. From the mobile interface, users gain access to search browsers, watchlists, company symbols, market trends, and stock alerts, and positions and order. Unlike the alternatives on the beginner stock trading apps, TD Ameritrade offers quick trading from installation at a higher deposit rate. 

In contrast to other trading apps, TD Ameritrade offers a ThinkorSwim charting software for in-depth stock analysis. From the ThinkorSwim platform, users toggle different charts and candlestick patterns, support and resistance bands, and studies to better represent specific stock market graphs. 

5. Webull 

As an alternative to Robinhood, the Webull stock trading app offers large selections of stock trading and exchange-traded funds (ETF). Available in both iOS and Android app distribution stores, Webull includes a wide variety of services to make better investment decisions. This includes extensive built-in research, data, analysis, and charts from within the Webull stock trading app. 

To enhance the learning curve for newer investors, Webull’s paper money features enables users to trade virtual money with stock markets as a means to practice before trading without any experience.

Conclusion

In conclusion, most new investors interested in stock trading via mobile devices rely on a stock trading application with a straightforward and easy to interact user-interface with the additional tools, features, and artificial intelligence (AI) features to make more strategic investments. While there are many mobile stock trading applications available for users, choosing the appropriate investment apps ensures that both new and experienced users better meet their investment needs and objectives.

Published: January 14, 2021
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Usman Raza

Usman Raza is a CEO of Usman Digital Media and co-founder of Christian Marketing Experts, content marketing specialist at webdaytona.com. He has been writing for magazines and newspapers since 2001, and editing and managing websites since 2006. Usman has a BA in Business Development, Philosophy, and English. A generalist, his most covered topics are business and technology. When not working, he’s probably spending time with his family.

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