The Best Trading Apps for Beginners offers three essential benefits. First, the platform itself should be easy to use and beginner-friendly. Second is the availability of a wide variety of educational materials to get new investors off to a strong start. And third, the best platforms deliver access to quality stock market research.
The Best Trading Apps for Beginners
As smartphones become just as capable as the average laptop computer, it’s no surprise that traders demand the same features found in desktop trading platforms be available in their stock trading app counterparts. But the manner in which those tools are integrated matters significantly.
Features such as real-time streaming quotes, charting with multiple indicators, and synced watch lists are commonly found; other basic offerings might be missing in action. For example, fewer than 50% of stock apps support basic stock alerts.
Best Trading Apps for Beginners
This list walks through the best trading apps and software packages for beginners and up. While we prize no commissions, we want to focus on providing the best overall user experience that aligns with this site’s overarching aim: building long-term wealth.
The best trading apps manage to pack more tools under the hood in a way that doesn’t make finding what you need overly difficult, whether by swiping, tapping a menu, or choosing from a drop-down list. See below how our top five finishers measure up.
In this guide, we’ll share some of our favorite free stock trading apps from some of the best stock brokers, as well as some things to consider when deciding which is the best choice for you.
This is an investing app designed to make investing easier for beginners. Plynk Invest is an app designed to help you start investing and learn along the way, and they’re currently offering up to $110 in bonuses for new accounts. You can use Plynk Explore to find investments based on your interests. Just answer a few questions, and the app will display stocks, ETFs, and mutual fund investments that mesh with your investment comfort zone.
The Plynk app enables you to make use of a powerful investing technique called dollar-cost averaging by participating in recurring investments. By continuing to buy a fixed dollar amount of investments over time, whether the market is up or down, you can build a disciplined investing habit and lower the stress that can come from market movements.
Webull is a mobile app that offers free stock trading. The company’s legal name is Webull Financial LLC. Webull entered the stock trading world in 2018 when it started challenging Robinhood for market share. This stock trading app offers commission-free stock trading as well as commission-free trades on ETFs, options, and cryptocurrencies. Webull also provides you with access to several powerful tools you can use for in-depth trading analysis. These low-cost or free services easily make the stock trading app one of the best stock research and analysis apps for conducting technical analysis.
For investors who use margin, Webull has some of the lowest rates we know of. New investors can take advantage of Webull’s “Paper Trading” feature, a virtual trading simulator where you can learn to invest without risking your hard-earned money.
This platform is the online brokerage arm of Ally Financial (publicly traded as “ALLY”), which also operates Ally Bank. Ally Financial is best known for its FDIC-insured banking services through Ally Bank, which includes online banking (you can read a review of Ally’s high-yield savings account on our sister site, investor.com), auto financing, and home loans.
It offers a broad range of self-directed and robo-advised investment products to suit nearly every type of investor, from the new investor to the experienced trader.
Ally does not charge commissions on most stocks and exchange-traded funds (ETFs), with the exception of stocks priced under $2, which have a minimum of $4.95 a trade and a maximum of 20% of the principal value. Options trades are 50 cents per contract, with no exercise or early assignment fees. That’s lower than some industry leaders. Bond trades are $1 per bond.
Acorns Invest is an American financial technology and financial services company based in Irvine, California, that specializes in micro-investing and robo-advice. According to Fortune’s Impact 20 list for the year 2020, Acorns had 8.2 million customers and $3 billion in assets under management.
Acorns operate a platform that allows members to invest by regularly saving small sums of money, an approach called micro-investing to save for retirement.
It is a commission-free trading platform for stocks, ETFs, and options. Moomoo takes a different approach from other platforms, favoring simplicity and ease of use. The stock trading platform caters to new and advanced traders by offering an integrated platform rich with powerful tools to enhance your trading insights and abilities.
If this feature set sounds intimidating to start with, the app also offers paper trading functionality with real-time data. This simulates the investment experience before you commit any of your real money. And for making a qualifying deposit, the app pays you to give it a spin by offering free stocks for signing up. See the box below for details.
Here are some questions and their answers related to the best trading apps for beginners.
Which trading app is most profitable?
- Saxo Bank’s SaxoTraderGO app
- IG Trading App
- CMC Markets’ NextGeneration app
- TD Ameritrade’s Thinkorswim app
- City Index: City Index mobile app
- FOREX.com and FOREX.com app
- OANDA’s fxTrade app
Which stock trading app is best for beginners?
The Best Stock Trading Apps of 2023
- Charles Schwab: Best overall.
- Thinkorswim trading platform: best for active traders
- SoFi Invest: Best for Beginners
- Vanguard: Best for no commission fees.
- Fidelity: Best for long-term investing
- Interactive Brokers: best for expert traders
- Ally Invest: Best for banking and stock trading.
Which type of trading is best?
Experienced: Experienced players take high risks, and expert trading strategies generally opt for intraday trading, short selling, and margin trading. Among these, short-selling is the most popular trading method for expert traders who have a deep understanding of market fluctuations.
Can you self-learn trading?
The stock market is not as difficult to understand as you may think, and anyone can learn how to trade stocks. There are many options available through which you can learn stock market basics. With sincere and persistent efforts, you can learn the stock market.
Can I start trading with no money?
The answer is a simple “no.” There is no minimum amount to start investing in the Indian stock market. You simply need to have sufficient capital to cover the price of a stock. So, you do not need a huge amount of money to start trading in India. It is possible to buy stocks for even less than Rs 10!