The 10 Best Apps to Invest in Stocks
The stock market is very fluid.
In today’s investment environment, stocks and market indicies can move significantly up or down in just a matter of minutes.
If you are not sitting by your computer when the trading action gets fast and furious, you are always at risk of having your stock investment account take a hit before you can intervene on your behalf.
The good news is technology has changed the way stock investors trade stocks.
As one of the growing population of people who are making their own investment decisions, why would you not want to take advantage of having access to your stock trading account at any time of the day from any place you might be sitting or standing?
Thanks to recent innovations in stock trading technology, you can now control your investment account through your favorite mobile device (smartphone, tablet).
That’s right. You have the ability to make trading decisions while working or sitting in the local coffee shop. This is how to buy stocks in the year 2020. (10 Best App to Invest in Stocks)
The question remains: “how do you find the best app to invest in stocks?” At this point, you have dozens of choices.
That doesn’t mean they are all good choices. We can only assume you would be looking for the best app to invest in stocks.
For information on the best applications to invest in stocks, we turn to NerdWallet.
NerdWallet and its staff are renowned for having their collective fingers on the pulse of the world of personal finance.
They cover a range of topics like credit cards, lending companies, real estate agencies, and yes, land-based and online stock brokerage firms.
On the company’s website (see reference at bottom), NerdWallet recently published its list of the 10 best apps to help invest in stocks. By all indications, this would seem to be the go-to list.
As stated in the company’s article, the criteria used for these ratings includes, “advisory fees, branch access, user-facing technology, customer service, and mobile features.” Hopefully, this list will help you identify the best app to invest in stocks for you.
Contents
1. Ally Invest (#1 in the best app to invest in stocks)
On this list of the best apps to help invest in stocks, Ally Invest is a name most people won’t recognize.
Still, the company offers a robust mobile app with high levels of functionality and strong research tools.
An account with this app requires no minimum balance. Customers get commission-free stock, options, and ETF trades with minimal charges for options-contracts and mutual funds.
As a web-based trading company only, customers have no access to brick and mortar offices.
2. Robinhood
If you are interested in trading nothing more than individual stocks and stock options, this could be the best app to invest in stocks for you.
The app features a solid interface that is highly functional and easy to navigate.
All stock and options trades are completely free. There is no account minimum requirement.
For crypto investors, Robinhood offers free cryptocurrency trading. The biggest downside with this option is the lack of research and trading tools.
3. E*Trade
In the world of online trading, this is where it all began years ago. After all these years, E*Trade is still widely acknowledged as the best app to invest in stocks.
While this app offers many great investment tools, the app can be a little difficult to navigate.
With this app, customers get commission-free trades on stock, options, and ETF trades.
All other investment options come with modest fees. The app features easy-to-use investment tools, a large selection of investment options, and robust access to technical and fundamental research.
4. TD Ameritrade
Much like E*Trade, TD Ameritrade has a long tradition of being one of the best applications to invest in stocks.
The company itself has long been focused on teaching customers how to buy stocks. The app is nothing short of outstanding given the ease of navigation. (best app to invest in stocks)
Customers get commission-free stock, ETF and options trades, free access to research tools, no account minimum requirements, access to a wide range of investment markets, and access to broker-assisted trades. Unfortunately, the company’s broker-assisted trades are quite costly.
5. Merrill Edge
Yes, traditional brokerage firms can lay claim to having the best app to invest in stocks.
Bank of America customers can enjoy easy integration between this app and their bank accounts. The Merrill app is attractive and highly functional.
Customers get commission-free stock, ETF, and options trades while also getting access to informative third-party research.
This platform might not be right for investors that are looking for a very wide range of investment options.
6. Charles Schwab
Charles Schwab stands as the most prominent of all online brokerage firms. It should surprise no one that Charles Schwab has what is arguably the best app to invest in stocks.
The company offers two different platforms with both being easy to use and navigate.
Customers can trade stocks, options, and make EFT trades for free. Accounts come with access to extensive research tools and a large range of investment options.
The app’s low default cash sweep rate could be a problem for some investors.
7. Fidelity
As the last of the five-star apps to qualify as the best app to invest in stocks, Fidelity Investments has proven its ability to compete in this space. The app is solid, not great. However, it does have lots of functionality.
Along with commission-free stock, ETF, and options trades, customers also get access to extensive research tools and over 3,500 mutual funds and stock indexes.
Broker assisted trades available for a large fee.
8. You Invest by J.P. Morgan
Best app to invest in stocks : Chase Bank customers can enjoy easy integration tp the You Invest mobile app.
The app is rather basic but very easy to use and navigate. This is one of the best applications to invest in stocks without all the research bells and whistles.
What customers do get is commission-free stock, ETF, and options trades with no minimum account balance requirement.
On the downside, access to the exclusive Portfolio Builder tool requires a $2,500 minimum balance.
9. SoFi Active Investing
For someone who wants to go small, SoFi Active Investing could well be the best app to invest in stocks.
The main attraction for this app is its easy to understand and use app interface.
The account comes with a zero account balance minimum requirement, commission-free stock, ETF and options trades, cryptocurrency trading, and free career counseling.
What clients won’t get is access to research tools and other investment vehicles such as bonds and mutual funds.
10. Stash Invest
Stash Invest has created a unique niche to earns its way on this list of the best app to invest in stocks.
The mobile app itself is very functional and well designed.
While customers are entitled to commission-free stock and options trades, Stash does charge a small monthly account fee of $1 to $9. They also provide educational content and support for a limited time.
Conclusion:
As a novice investor, you need all the help you can get. You also need to know you can get quick access to your trading account from anywhere at any time.
That’s why you should consider downloading one of the best apps to help invest in stocks.
With the right app, you can make all the right trades based on all the right research with the click of a couple of buttons.