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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
- Best overall: Charles Schwab
- Best for free stock trading: E*TRADE
- Best for active trading: TD Ameritrade
- Best for beginners: SoFi Active Invest®
- Best for long-term investing: Fidelity Investments
- Best for banking and stock trading: Ally Invest
- Best for options trading: Webull
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. Free stock trading apps are the way to go if you're looking for commission-free trades on assets like stocks or ETFs.
Check out the best stock trading apps with low fees, as picked by Business Insider's editors in 2024.
Best Stock Trading App Overall: Charles Schwab
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 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.
Best Stock Trading App for Free Stock Trading: E*TRADE
E*TRADE is a comprehensive trading app offering commission-free trades for US-listed stocks, ETFs, mutual funds, and options trades. Fee-conscious investors can save by investing in E*TRADE's thousands of no-load, no-transaction-fee mutual funds.
The platform offers automated accounts and managed portfolios. Its Core Portfolios automated account has a $500 minimum requirement and a 0.30% annual fee. Its managed portfolios — Blend Portfolios and Fixed Income Portfolios — give you access to human advisors who help manage your investments.
E*TRADE's options — which are also commission-free — cost $0.65 per contract if you make less than 30 trades per quarter. But if you make more than 30 trades per quarter, E*TRADE charges $0.50 per contract.
Best Stock Trading App for Active Trading: TD Ameritrade
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.
Best Stock Trading App for Beginners: SoFi Active Invest
SoFi Active 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 taxable and retirement brokerage accounts. While SoFi's investment options are somewhat limited, a large pool of stocks and ETFs exist.
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.
Best Stock Trading App for Long-Term Investing: Fidelity
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, Fidelity Spire is a goal-oriented app that encourages good saving and investing habits to achieve your goals.
Fidelity Investments It is best for beginners but also suits active traders, passive investors, and teens.
Best Stock Trading App for Banking and Stock Trading: Ally Invest
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 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.
Best Stock Trading App for Options Trading: Webull
Webull is 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, 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.
Introduction to Free Stock Trading
Commission-free stock trading apps have made investing more accessible to beginners and cost-conscious investors. These platforms allow users to buy, sell, and trade company shares without unnecessary transaction fees. While stock trades are the most common investment offered commission-free, many apps provide access to other securities like ETFs and mutual funds.
The Rise of Commission-Free Trading
The emergence of commission-free trading changed the game of investing, making buying and selling certain inevitable securities easier and less expensive. Charles Schwab, one of the largest and most well-trusted financial firms, began eliminating trading fees in the 1970s, paving the way for other brokerages to do the same.
Since brokerage firms now make most of their revenue from interest on cash balances, advisory services, and loan programs, the need for trading fees has lessened. Moreover, technological advancements such as automatic trading have made commission fees less relevant.
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 allow users to trade international stocks either directly through foreign stock exchanges or via American Depository Receipts (ADRs). Availability varies by app, so checking each platform's offerings is important.
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.
Yes. Commission-free trading platforms are great for beginners seeking free stock trading and simplified investing strategies. Commission-free trading platforms may also offer additional account features, educational resources, and goal-building tools.
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.
Sofi Active Invest: Investments are not FDIC-insured - Are not bank-guaranteed - May lose value
