Top 5 Trading Apps in 2021

Everything today is tech-related, from the way we are learning and doing business to the way we’re trading stocks. All you need is to own a smartphone and you can easily numerous trading apps that offer a simplified trading experience to their users. These are easy to use and deliver a complete online trading experience for everyone, either beginners or experts.

In this article, you will find the best five trading apps currently on the market with all information you will need if you wish to start trading stocks online. The majority of these options can be used on both ioS and Android operating systems. 

1 Robinhood

Robinhood is, according to many, the best free stock trading app on the market. It was launched in 2013 and ever since its beginning, it’s allowing its users to trade stocks without paying any fees at all. What Robinhood users appreciate is the simplicity of the trading experience without the fees and hassle. Also, it’s an excellent choice if you’re looking for a good OTC trading app.

Another great thing about it is that Robinhood has an easy-to-use interface and access to popular cryptocurrencies. However, you’ll need to keep in mind a thing or two when talking about the downsides of Robinhood. Although it’s perfect for beginners, it lacks investment types, so you won’t be able to find retirement accounts, mutual funds, or bonds. Also, it has limited customer support so for any question or concern, you will need to have patience. 

2 Acorns 

Acorns is another great option for beginner investors who are looking for low stock trading fees. It’s great for those who don’t want to become too active as you can invest your money into a nest egg which will then grow gradually. Acorns is a very easy-to-use app with low investment costs and also zero-dollar account minimum. Its robo-advisor model is convenient for everyone with no investment experience.

However, Acorns is not free like Robinhood. You can expect your monthly account fees to be from $1 to $3. Also, you can easily open an Acorns account by using your regular bank account, and Acorns will track for you all the purchases and invest spare change in a low-risk portfolio daily. 

3 Webull 

This is a really intuitive platform filled with powerful research tools which serve both beginners and experts. Webull is super easy to use and it offers commission-free trading. It was founded in 2016 and the company launched the trading app only two years later. Up to now, they have gathered more than two million users who are enjoying this stock trading app. 

Webull also doesn’t require an account minimum, however, for those with trading experience, Webull tends to offer limited investment options.

4 Stash

Stash is yet another great online trading app for those who need to learn about trading first. It facilitates value-based investing and joints your investments and your beliefs. Just like previous trading apps we mentioned, Stash doesn’t require an account minimum, but you will have to pay monthly fees from $1 – $9 depending on your selected plan.

Stash also offers its users great automated guidance and educational offerings, fractional shares, automated and round-up investing. On the other hand, you will have to keep in mind that Stash lacks investment management and human guidance and there is no tax-loss harvesting. 

5 E*Trade

This app makes online investing easy with its accessible and user-friendly platform. E*Trade is the pioneer in the online investing platform market. Their online trading app has numerous advanced features and since they removed commission fees for stock and ETF trades, it became the most simplified app to view your investments and trade stocks on your smartphone. So if you’re considering investing in DAO crypto, such as Bitcoin or Ethereum, E*Trade is a great option for that as well. 

E*Trade is also great for futures traders as it provides a mobile futures ladder tool. Also, it will assess the risk with a performance tool and allow you to test your own portfolio. But, the mobile app is a bit limited when compared to Power E*Trade app, and you can expect a bit higher fees and margin rates.  

How To Choose

Before deciding on which app you will use, you will need to consider a few things. First of all, beginners and experts will not look for the same features and same types of investment, so make sure you choose the one that provides you with what you need. Second, you will need to research the information about the account minimum, commission and margin fees.

Third, you will need to learn how to manage the app. Although you understand the trading process, each application has its own cryptocurrency API, so make sure you study it well before investing. Last but not least, make an investment plan. Decide how much you can invest now and determine your trading objectives. This will help you track your results and see what needs to improve for you to make smart investments.