What are the best free stock trading apps for beginners? Are you new to investing in the stock market and looking for an easy and convenient way to start? If so, you may be wondering what the best free stock trading apps for beginners are.
We’ll introduce you to some of the best free stock trading apps on the market and provide an overview of their features. Also, we will give you some tips for choosing the right best app to trade in stocks for your needs and help you get started on your journey to becoming a successful investor. So, whether you’re just starting or you’re an experienced investor looking for a new platform, this post has you covered.
Exploring the World of Stock Trading: A Beginner’s Guide
Stock trading refers to the buying and selling of shares of publicly traded companies. Stock traders may be professionals working for a financial company or individual investors trading for their gain. When you buy a share of stock, you become a company shareholder and are entitled to a share of the company’s profits or losses.
Trading shares usually takes place through a brokerage account. Stock exchanges execute orders to buy and sell shares through this account. Stock trading is open to everyone. Opening a brokerage account is the first step to trading stocks. Some brokerages require a minimum deposit, while others don’t.
After you open a brokerage account, you can start buying and selling stocks. Trading stocks carries risks, and you can lose money, so educate yourself and know the risks before you start.
Overview of the Best Free Stock Apps And investment for Beginners
Several Best free stock trading apps are suitable for beginners. Here are a few options:
1. Robinhood
Robinhood allows users to trade stocks and ETFs without paying commissions. Beginners will love the app’s user-friendly interface. Besides stocks and ETFs, Robinhood also lets you trade options and cryptocurrencies. With Robinhood, you don’t have to worry about trading fees, which can save traders a lot of money in the long run.
Robinhood doesn’t charge commissions, but it may charge other fees, like account maintenance fees or fees for certain account services. Before you start trading, read the fine print and understand the fees.
What makes it worth investing in?
- Options, cryptocurrencies, and stocks are all included
- A commission-free trading system
iOS rating:Â 4.1/5 stars
Android rating:Â 3.8/5 stars
2. Webull
Webull is a financial services company that offers a stock trading app and a brokerage account. The Webull app allows users to buy and sell stocks and exchange-traded funds (ETFs) without paying commission fees. In addition to trading stocks and ETFs, the app offers other features, such as real-time market data, customizable watchlists, and various technical and fundamental analysis tools.
Webull is known for its user-friendly interface and is suitable for beginner and experienced investors. The company also offers a brokerage account, allowing users access to a wider range of investment products, such as options, mutual funds, and bonds.
It’s important to note that while Webull does not charge commission fees for stock and ETF trades, it may still charge other fees, such as account maintenance fees or fees for certain account services.
What makes it worth investing in?
- A wide variety of investments
- An easy-to-use technical analysis tool
iOS rating:Â 4.8/5 stars
Android rating:Â 4.4/5 stars
3. Public.com
Public.com is a stock trading platform that allows users to buy and sell stocks and exchange-traded funds (ETFs) without paying any commission fees. In addition to trading, Public.com also offers a social networking feature that allows users to follow other traders and see their investments and trade activity.
The platform is known for its user-friendly interface and is suitable for beginner and experienced investors alike. Public.com also offers a variety of educational resources, such as webinars and articles, to help users learn more about investing.
What makes it worth investing in?
- Commission-free trading
- Create curated lists of stocks and ETFs for people to invest in based on their interests/values
iOS rating: 4.7/5 stars
Android rating: 4.3/5 stars
4. TD Ameritrade
TD Ameritrade is an online brokerage firm that provides a platform for buying and selling stocks, ETFs, and other financial instruments. The company was founded in 1975 and is headquartered in Omaha, Nebraska. In addition to trading, TD Ameritrade also offers a range of investment products and services, including mutual funds, ETFs, options, futures, and forex trading.
The platform is suitable for both beginner and experienced investors and provides a variety of educational resources, such as webinars and articles, to help users learn more about investing. TD Ameritrade is known for its user-friendly interface and strong customer service.
However, it’s important to note that TD Ameritrade may charge commission fees for certain trades and account services. It’s a good idea to carefully review the fees associated with using the platform before you start trading.
What makes it worth investing in?
- Resources for learning
- You can calculate the risk with analysis features
iOS rating:Â 4.5/5 stars
Android rating:Â 3.5/5 stars
5. SoFi Invest
With SoFi Invest, you can invest actively (stock trading) and automatically. Cryptocurrencies can also be traded on this platform. SoFi offers traditional and Roth IRAs, unlike several other tech-driven investment apps. A single, highly-rated app offers all these features (lending, saving, investing, and more).
It is significant to note that SoFi, or Social Finance, is designed to be an all-encompassing financial community. With its investment platform, SoFi offers personal loans, mortgages, private student loans, credit cards, and high-yield savings accounts.
What makes it worth investing in?
- Various other financial products are available
- Invests in stocks automate investing and trades of cryptocurrencies
Android rating:Â 4.4/5 stars
iOS rating:Â 4.8/5 stars
6. Fidelity
Fidelity is a financial services company that offers a range of products and services, including brokerage, investment management, and retirement planning. The company was founded in 1946 and is headquartered in Boston, Massachusetts. Fidelity is known for its high-quality research and analysis, which can be a valuable resource for investors.
The company offers a range of investment products, including stocks, ETFs, mutual funds, options, and various financial planning and advisory services.
What makes it worth investing in?
- Get the latest insights from professionals
- There’s no minimum balance
iOS rating:Â 4.8/5 stars
Android rating:Â 4.4/5 stars
7. Betterment
Betterment is an online investment platform that provides various financial planning and investment management services. The company was founded in 2010 and is headquartered in New York City. Betterment is known for its robot-advisory services, which use algorithms to provide automated investment recommendations based on users’ goals and risk tolerance.
The platform offers a variety of investment products, including stocks, ETFs, and bond funds, and provides access to human financial advisors for users who want more personalized investment advice. However, it’s important to note that Betterment may charge fees for certain services, such as its premium financial planning and advice offering.
What makes it worth investing in?
- You can invest however you want, or you can opt for automated investing
- More affordable pricing
Android rating:Â 4.4/5 stars
iOS rating:Â 4.8/5 stars
8. M1 Finance
M1 Finance is an online investment platform that allows users to create and manage their investment portfolios. The platform was founded in 2015 and is headquartered in Chicago, Illinois. M1 Finance is known for its flexible portfolio management tools, which allow users to customize their investments according to their individual goals and risk tolerance.
The platform offers a wide range of investment products, including stocks, ETFs, and bond funds, and provides access to human, financial advisors for users who want more personalized investment advice. M1 Finance is suitable for both beginner and experienced investors and offers a variety of educational resources, such as webinars and articles, to help users learn more about investing.
However, it’s important to note that M1 Finance may charge fees for certain services, such as its premium financial planning and advice offering.
What makes it worth investing in?
- Switch to M1 Finance and get a bonus
- No commissions on trades
Android rating:Â 4.4/5 stars
iOS rating:Â 4.6/5 stars
9. Merrill Edge
Merrill Edge is an online brokerage platform that is operated by Bank of America’s investment arm, Merrill Lynch. The platform is designed for self-directed investors and offers a range of investment products, including stocks, ETFs, mutual funds, and options. Merrill Edge is known for its high-quality research and analysis and provides access to a team of financial advisors for users who want more personalized investment advice.
The platform is suitable for both beginner and experienced investors and offers a variety of educational resources, such as webinars and articles, to help users learn more about investing. However, it’s important to note that Merrill Edge may charge commission fees for certain trades and account services.
What makes it worth investing in?
- There are no annual fees
- A professional manages and rebalances the portfolio
Android rating: 4.2/5 stars
iOS rating:Â 4.7/5 stars
10. Invstr
Invstr is a financial technology company that operates an online investment and trading platform. The platform is designed to be user-friendly and suitable for both beginner and experienced investors. Invstr offers a range of investment products, including stocks, ETFs, and options, and provides access to a variety of educational resources, such as webinars and articles, to help users learn more about investing and the stock market.
In addition to its investment platform, Invstr also operates a social network for investors, which allows users to share ideas and discuss market trends with one another. Invstr is known for its focus on financial education and its use of gamification to make learning about investing more fun and engaging.
What makes it worth investing in?
- A minimum balance isn’t required
- Nothing to pay every month
Android rating: 4.3/5 stars
iOS rating:Â 4.6/5 stars
Here’s What You Get With The Most Popular Stock Trading App
There is no single investment strategy that works for everyone. There’s no way we’ve found it. Stock research and educational tools are helpful for some investors, but others just want something user-friendly to buy and sell stocks. So here are the finest and most reliable stock trading apps available. Make a list of the features you want before making a decision.
The best trading apps with free stock offer a variety of features and tools that can be useful to investors, including:
- Commission-free trading: The best free stock trading apps do not charge any commission fees for stock and ETF trades, which can save traders a significant amount of money over time, especially if they are active traders.
- User-friendly interface: The best free stock trading apps have a user-friendly interface that is easy to navigate and suitable for both beginner and experienced investors.
- Wide range of investment products: The best free stock trading apps offer a wide range of investment products, including stocks, ETFs, options, mutual funds, and more. This provides investors with a variety of options for building a diversified portfolio.
- Real-time market data: The best free stock trading apps provide real-time market data, so investors can stay up-to-date on the latest market movements.
- Mobile app: The best free stock trading apps have a mobile app available for iOS and Android devices, making it easy for investors to trade on the go.
- Customizable watchlists: The best free stock trading apps allow users to create and customize their watchlists to track their favorite stocks and ETFs.
- Technical analysis tools: The best free stock trading apps provide various specialized analysis tools, such as charts and indicators, to help investors make informed trading decisions.
- Educational resources: The best free stock trading apps offer a variety of educational resources, such as webinars and articles, to help users learn more about investing and the stock market.
What’s The Start-Up Cost?
The cost of starting to trade stocks can vary depending on the platform you use and the type of account you open. Some platforms charge commission fees for each trade, while others do not. Some platforms also charge fees for account maintenance or other services, such as access to financial advisors.
Here are some estimates of the potential costs of starting to trade stocks:
- Commission fees: If you use a platform that charges commission fees, the cost of each trade will depend on the platform’s fee structure. Commission fees can range from a few dollars to several hundred dollars per trade, depending on the platform and the type of securities being traded.
- Account minimums: Some platforms may have account minimums that you need to meet to open an account. These minimums can range from a few hundred dollars to several thousand dollars.
- Annual fees: Some platforms charge yearly fees for maintaining an account, ranging from a few hundred dollars to several thousand dollars per year.
- Other fees: Some platforms may charge fees for additional services, such as access to financial advisors or research tools. These fees can vary widely depending on the platform and the service provided.
Overall, it’s important to carefully review the fees associated with any platform you consider using before you start trading. This will help you understand the potential costs and ensure you are comfortable with the fees you will be charged.
Navigating the Stock Market as a Beginner: Tips and Tricks for Successful Trading
In conclusion, the stock market can be a complex and intimidating place for beginner investors. However, with the proper knowledge and tools, it can also be a rewarding way to grow your wealth over the long term. Many online platforms allow you to buy and sell stocks; the best one for you depends on your individual needs and preferences.
Some factors to consider when choosing a platform include fees, investment options, user-friendliness, educational resources, and customer service. It’s essential to research and compare different platforms before you start trading carefully and to remember that investing in the stock market carries risks and there are no guarantees of success.
