Trading is an exciting way to make money. You can do it on the market or in life. If you are good at trading stocks, you have a skill that will always be in demand. This blog post is going to help teach you how to start trading stocks with confidence and success! Top 5 best trading apps for traders are given in this blog. This is a list of the top 5 trading apps that are available on your phone or computer.
We can use these apps to trade stocks, Forex, commodities, and options. If you’re not sure which one to download first, this article will help make it easier for you to look out which one suits your needs best! Below is the list of 5 different apps;
- The best trading app for beginners is Robinhood
- If you’re looking to trade stocks, the most popular app is E*Trade
- For day traders, there’s TD Ameritrade and TradeStation
- For people who don’t want to deal with a broker, there’s Acorns
- And for options trading, OptionsHouse is the way to go!
1. The best trading app for beginners is Robinhood.
This app was just recently released, but it has been getting a lot of attention from traders everywhere because it offers free trades, making it incredibly convenient for day traders who need to buy and sell quickly. You can open an account in less than 5 minutes with only a few pieces of necessary information such as name, address, date of birth, last four digits on the social number, driver’s license number or passport, and an email address.
This is the only app on this list that doesn’t charge you a monthly fee because it uses real-time data, making it more expensive! However, even though they don’t charge a monthly service fee like the others, they make money through margin interest which charges 3.5% if you carry a balance on your accounts.
They also offer premium services such as extended market hours and after-hours trading, but those cost $10 per month, which is cheap compared to other stockbrokers out there!
Finally, Robinhood does not require any minimum deposit to sign up, and you only need to put in enough money for two days worth of trades (about $2,000). If you are low on cash but want to start trading, this app is perfect for you! This app enables you to trade stocks for free. It has commission-free investing.
You can get this by just downloading the app. It also has a feature that will enable you to trade stocks and sectors not listed on other exchanges. This app is for beginners, but it does have some issues. The biggest problem with this app is that they don’t have a way to buy mutual funds, ETFs, bonds, or options.
If you don’t have kowledge much about trading and want to learn, this app is a good start. However, if you know about trading and want to become a professional trader, skip this one. The lack of controls makes it hard for professionals to use.
If you’re looking to trade stocks, the most popular app is E*Trade–Top 5 best trading Apps
This app has been around for 26 years, and it’s easy to see why this is one of the best options. It offers a ton of diverse features that are all invested into making your experience fun and profitable!
The app gives you four diverse ways to trade:
- Market orders
- Limit orders
- Stop-loss order
- Good ’til canceled order
These are all great tools that make trading more straightforward, especially when you are new at it! The shop also shows you how much each investment, or stock, would cost if purchasing 100 shares with an additional 0.25 cents for each share purchased over 200 shares! This makes trading more straightforward because you quickly get an idea of how much you are spending. Lastly, the app has excellent customer service that is available 24/7 to answer your questions!
For day traders, there’s TD Ameritrade and TradeStation
If day trading is what you do, then this may be the best option for you! This app allows you to trade stocks, ETFs, opportunities, and futures that have been previously purchased from them or other brokers through a prior agreement. The important benefit of this app is that it comes with many features at no cost, which isn’t very common in the trading world!
Here are some highlights:
- Top tier order routing for increased executions
- Ability to send orders directly from your phone
- Ability to place, modify and cancel orders on the go
- Top of book quotes with real-time streaming for all options exchanges
- Top tier Level 2 quote screen that can be customized for large volume traders All of these features come without a monthly fee!
This app is excellent if you are new at trading or more experienced in day trading. It’s also suitable for investors looking to trade options at no additional cost! However, it doesn’t have everything, so if you’re looking for something longer than the day, this may not be a great fit for your requirement. Also, it takes some time to get used to, especially since there isn’t an app like this available 24/7, unlike other apps mentioned above. If you’re a professional day trader, this is the best app for you. If not, other tools will suit your needs better.
For people who don’t want to deal with a broker, there’s Acorns
Acorn is an excellent app for folks who want to invest in their future without any work. You can accessibly set up an account and link it with one of your bank accounts. From there, you just connect your cards, and every time you purchase something, the pain will round up to each dollar and invest that money into stocks!
This app does charge $1 per month, which might be too much for some people, but they offer a free version that doesn’t allow automatic investment. You will have to manually add money every time you want to use this feature, so if you think investing $1 per month isn’t worth it, then go for this option instead. Also, they only keep 5% of what you make, making it one of the best apps in this category!
The entire process is super easy and takes about 5 minutes to set up. All you have to do is add your bank account, verify it through email and connect all of your cards. Once that’s done, you’ll automatically start saving money every time you make a purchase! So if you want to invest without any work, then this is the best app for you!
And for options trading, OptionsHouse is the way to go!
This app is best for traders who are interested in options trading. It’s simple to use, and it has excellent customer service that works 24/7!
The two main features are the options screener where you can filter all the stocks based on your criteria, and then there’s the Order Execution Area which allows you to place trades directly from your phone!
However, all of this is available at a price because OptionsHouse charges $4.95 per trade if you go over 30 transactions per month. But if you don’t make more than 30 trades a month, it only costs 0.5% of your commissions up to 1 million dollars, which is lower than many competitors out there!
Overall, OptionsHouse is an excellent app for options trading, and it’s the best one out of all apps mentioned above. It has more features and everything you need to trade options on your phone!
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The top 5 best trading apps conclude here. The best trading app for beginners is Robinhood. If you’re looking to trade stocks, the most popular app is E*Trade. For day traders, there’s TD Ameritrade and TradeStation. For people who don’t want to deal with a broker, there are Acorns. And if you are interested in options trading, OptionsHouse may be your answer! These apps make it much easier to buy or sell stocks without having to go through a full-blown brokerage account at all of those other companies that charge hefty fees just because they can.
Give one of these five an honest try today and see what happens – we bet that once you do some research on them all, you’ll find the perfect fit for whatever needs you to have. We assume you found this article helpful and informative. we’ve got a list of the top 5 trading apps for you! Remember to do your investigation before committing to any brokerage firm or app- all trade at different rates and have varying levels of customer service. Have fun investing with these five apps today!