There are many apps in the stock market for trading and investing you can use in managing your portfolio.
However, finding them is a daunting task since you must go through lengthy and overwhelming research procedures. The good news is that there are numerous legit sites that recommend the best apps to invest and trade stocks with. For example, UK traders considering trying their luck in the stock market can find reliable apps here. Based on our findings, we also list below the top three apps to invest and trade stocks with.
- Robinhood
You probably know Robinhood as a cash management company, but it is also one of the best US-based stock trading apps. Robinhood is safe for your funds since top-tier authorities such as the US Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA) regulate it. Moreover, the app is highly encrypted and secures your account with a two-step login procedure.
One thing we like about Robinhood is that its platform is user-friendly and has an intuitive design for maximum experience. There is no minimum deposit requirement with Robinhoom, meaning you get exposed to popular stocks with any amount you can afford. Additionally, stock investment here is commission-free and expect no transaction charges when making deposits or withdrawals. Besides stocks, Robinhood allows you to invest in ETFs, cryptocurrencies, options, and gold. Low-budget stock investors should definitely consider Robinhood if it accepts clients from their region.
- eToro
eToro is widespread globally, and like Robinhood above, it allows you to invest in stocks commission-free. This stock trading and investment app is user-friendly and perfect for newbies. It also hosts a social trading platform to connect you with global stock traders. Besides stocks, eToro allows you to diversify your portfolio using other asset classes such as stock, cryptocurrencies, commodities, etc. The app is safe, thus allowing you to only worry about managing your stock investment positions.
If you do not want to take long-term positions in the stock market, eToro allows you to trade the assets as CFDs, where you can speculate on stock price movements. You can also trade stocks as indices, whereby multiple stocks are held in a single investment. Whichever method you prefer to trade stocks, eToro supports you with quality resources for market analysis. Simply ensure it fits your trading or investment needs and deposit a minimum of $50 per its requirements.
- TD Ameritrade
Investors in the stock market looking for the best investment app with advanced resources should try TD Ameritrade. However, you must ensure it accepts clients from your region and offers your prefered stocks to have a worthwhile experience. TD Ameritrade features automated trading and live advisors, which are perfect for expert stock traders. Most importantly, it is regulated by world-class authorities, including the Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), etc.
TD Ameritrade also hosts powerful trading platforms you can choose from depending on your skill level. This broker also offers learning resources, including a demo account that you can use to gauge your skill level. Regarding stock trading charges, TD Ameritrade is affordable, and we recommend it to low-budget stock traders. On top of that, it has a reliable and responsive support service operating 24/7.
Conclusion
Trading apps have become essential items for traders and investors, especially those who are always on the move. This is because you can easily manage your positions without the need to stick to your trading station for hours. The above stock trading apps will help you manage your trading or investment positions in the stock market. However, since every stock trader has their own requirements, ensure you select an app that suits your needs.
For instance, you not only need a trading app hosted by a regulated broker but also one that is affordable. Keep in mind that the stock market is volatile, and while you can make profits out of it, losses are inevitable. Therefore, research the market carefully for the best stock assets and invest with the amount you are willing to lose.