12 Best Stock Trading Apps Useful in 2020 - 21Twelve Interactive

12 Best Stock Trading Apps Useful in 2020

12 Best Stock Trading Apps Useful in 2020

Just like all other industries, the stock investment industry has gone digital. Gone are the days when you would call a stockbroker to carry out your purchase/sale transactions. Now, you can use some of the best stock trading apps from the comfort of your homes to execute your stock trade.

These stock market trading apps are not limited to a particular category.

Some of the categories are best for beginners, learning, kids, banking, etc. if you are looking for a mobile app development company for your app, it is essential to identify your target audience first.

Best Stock Trading Apps Useful in 2020:

Here is an exclusive list of best stock investment apps to give you some inspiration!

1. TD Ameritrade Mobile

TD Ameritrade is one of the largest stock trading companies in the USA. You can choose from its range of stock apps depending on your needs. First is the basic TD Ameritrade app that gives you the experience of a desktop stock market app on your phone.

The TD Ameritrade app ranks among the top stock trading apps in iPhone & Android due to its powerful user experience. You can customize dashboard & screens, transfer funds, get market alerts and even access research and advice.

It is the best stock trading app for active and advanced investors as it comes with charts, technical indicators, and analysis to help you make decisions on the go!

Pros:

  • Unlimited data streaming that runs on multiple platforms
  • Test the power of think-or-swim platform using paperMoney
  • Snap stock feature to know more about the company behind any retail product using a barcode

Cons:

  • Educational offerings are difficult to find, usually located behind a “More” button
  • Slightly higher fees than other brokers
  • You may have to use both mobile apps to access the required tools

2. Robinhood

Robinhood launched a mobile app even before its website. Thus, making it one of the best stock trading apps in its own unique way. It may not give you access to a complete range of investments but works amazingly for stocks and ETFs. Support for Bitcoin is the latest addition!

Core features of this app are aimed at trading stocks that you own. To trade, all you need to do is search for stock, enter your trade and own it without any commission. Moreover, the premium Robinhood Gold account will give you access to margin trading, extended trading hours and other features.

It may not do as much as other stock trading apps on the list, but nothing beats a free stock trading app!

Pros:

  • No commission on stock trades
  • No minimum requirements for an account
  • Streamlined interface

Cons:

  • No retirement accounts
  • Limited customer support
  • No option for mutual funds or bonds

3. Acorns

Acorns are ranked amongst the best investment apps for beginners. If you have absolutely no idea where to start, Acorns will be your savior! Once your bank account is linked, it will track your spending and round up your purchases to the nearest dollar. It is then transferred to your Acorns account for investing. You also have the option to transfer funds manually.

Once dollars are added to your account, it will build a portfolio of stock and bond investments. The portfolio is built on the basis of a brief questionnaire you answer while signing up.

Pros:

  • Offers free management for college students
  • Automated spare change investment
  • Cashback at certain retailers

Cons:

  • Small investment portfolio
  • High fees even on small account balances

4. Stash

If you have a beginners’ level knowledge but want to make your investments, Stash is a perfect choice. It allows you to start investing with as low as $5 and educates you as you go.

Stash is not only an investment and trading app, but also has articles and tips to up your investment game. Stash’s built-in investment coach, helps you invest in single stocks and ETFs based on various investment themes.

It can be rightly said that Stash is one of the most helpful stock trading apps in Android & iPhone.

Pros:

  • Education content and support on best stocks
  • Low minimum requirements for account
  • Fractional shares
  • Value-based investments

Cons

  • No investment management
  • Higher ETF expense ratios

5. Stockpile

It will not only allow you to buy/sell stocks but also allows you to gift single shares of stock. You can purchase fractional shares at a minimal 99 cent trade fee. The fractional trade allows the purchase of high valued stocks such as Google and Amazon without paying more than $1000/share.

It rightly belongs to the list of best stock trading apps for families due to its option to gift stocks. Stockpile is one of the greatest stock trading apps in Android and iOS as it makes investing a family activity.

If you are planning to go for Android app development, the Stockpile is an inspiration!

Pros:

  • Lower trading fees
  • No annual fees
  • Fractional shares

Cons:

  • Limited account selection
  • Limited investment selection
  • No option of real-time trading

6. E*Trade Mobile

E*Trade was considered to be a pioneer of online trading. It has been a leader in online trading since forever and remains so due to its advanced features.

Once you log in to this app, you can view your investments or enter trades for basic and complex options. OptionsHouse, one of the most powerful investment apps for active traders, is also owned by E*Trade.

Pros:

  • A unique tool of streaming strategy options
  • Futures traders can make use of mobile futures ladder
  • Performance risk tools allow you to stress test the entire portfolio or a single asset or potential trade

Cons:

  • Slightly higher than average fees
  • Higher margin rates
  • No bank integration

7. Charles Schwab

Many stockbrokers wish to open their banks. But Charles Schwab is one of the best stock trading apps with integrated banking. It enables you to manage all your Schwab investment and bank accounts with a single mobile app. Right from deposits, transfers, and management of your investments, everything is available at a single place.

It is a favorite among international travelers as they can use their Schwab Investor Checking ATM card without any fees anywhere in the world. Also, log in to your Apple, Android or Kindle devices to research, enter trades and follow your portfolio performance.

The app is like a one-stop solution as you can even pay bills with Schwab Bank Bill Pay. Due to all these reasons, Charles Schwab made it to the list of top stock trading apps on iPhone and Android.

Pros:

  • This virtual stock exchange app has now all the features including international market data
  • News streaming alerts enabled on all mobile devices including Apple Watch
  • The option of two-factor authentication

Cons:

  • Data streaming available only on native iOS and Android apps and not on mobile website
  • Some advanced analytics options are available only on mobile

8. TradeHero

Not everyone is ready to log in and put real money in the stock market. Stocks and investments can go up or down. It is quite unpredictable. The app lets you play the stock market game through web or mobile, trading a $100,000 portfolio with real stock market prices at no financial risk.

The app added TradeHero Live in 2017, which allows trading of real as well as virtual money. You have to be careful that you don’t enter into a trade with your real money instead of virtual ones.

Pros:

  • Provides promo code support
  • Offers social media presence
  • The option of contact information availability

Cons:

  • No significant disadvantages

9. Fidelity Investments

Fidelity’s most amazing research information is available on the mobile app now. The mobile apps are now better integrated with the desktop experience. Features such as Trefis stock valuation and Recognia technical events can now be found on your tablet or phone.

Due to its trade execution engine, you can save more on a trade than commission payments. However, the transaction should be of 500 shares or more. The news feed will display news based on your portfolio and important dates like earnings and dividends.

Fidelity has received multiple accolades for Best Overall Online Brokers, Best for Beginners, Best for ETFs, Best for Penny Stocks, Best for International Trading and Best Web Trading Platforms. It has rightfully earned a place among the best stock trading apps.

Pros:

  • Consistent customized chart settings between phone and tablet
  • Universal Android and iOS apps available
  • Face ID/Touch ID available to quickly log in

Cons :

  • The firm has improved its infrastructure to avoid the 2018 fiasco
  • Many advanced features from the Active Trader Pro platform are not available on mobile apps
  • No futures trading

10. Merrill Edge:

Merrill Edge, a subsidiary of Bank of America, has a mobile app which links your banking activity and a brokerage account. You can find almost all the tools and content from the website on your mobile. The mobile app will not only open with a profile summary but also provides customizable performance statistics.

Merrill Edge’s partnership with Morningstar provides you with investing education from basics to extremely advanced. Again, Merrill Edge has multiple awards on its name.

Pros:

  • Huge library of planning & goal setting tools categorized by life stage & priorities
  • Calculators to estimate the potential impact on a tax of donating an asset
  • Hours of educational & informative videos divided into 2-3 minute long sessions

Cons:

  • The self-directed investor may get annoyed by constant push to engage with a financial advisor
  • Limited options trading capability
  • No futures or forex trading

11. TradeStation

It is a preferred choice for active stock, options and futures investors who rely on a broker’s high octane trading platform and sophisticated analytical tools. Active traders like per share/per contract and unbundled pricing plans.

There is also an option of a flat-fee plan and TSgo plan which offers limited features but also $0 trade commissions.

Pros:

  • High-quality trading platforms
  • Comprehensive research
  • Low commission

Cons:

  • No commission-free ETFs
  • Minimum balance requirements for an active trading platform

12. Interactive Brokers

Interactive Brokers is one of the best investing apps for advanced and frequent traders. The app offers you international trade capabilities, low commissions, and a quality trading platform.

New traders on the platform might not like the inactivity fees and lack of educational resources.

Pros:

  • Free trades
  • Wide range of investments
  • Advanced tools on Pro tier

Cons:

  • Complex pricing system on some investments
  • Inactivity fees on Pro tier

Conclusion

We hope that our all-inclusive list of some of the best stock trading apps in the market was enough to get you started. Before you get all excited and start to look for a technology partner, it is important to make some crucial decisions.

For instance, your target audience, app platform, number of features and the kind of development team you want. Remember, these factors will play a huge role in deciding the cost of stock market app development.

If you want a premium range of customers that will not shift their preference quite often, then the iPhone app development is the perfect fit!

Do you need some clarifications on the technical aspects of stock market app development? Ask our experts at  [email protected] and get answers to all your queries!

Which stock trading app is best for Users?

Some of the best stock trading apps for users are TD Ameritrade Mobile, Robinhood, Stash, Acorns, and E*Trade Mobile, etc.

What apps let your day Trade?

The best day trading apps are Robinhood, Charles Schwab, and Fidelity.

What's the best investment App?

The best investment apps are Stash, Stockpile, Merrill Edge and TradeStation.

How do beginners invest in stocks with little money?

The five ways to start investing with little money are: 1) Contribute to an employer IRA, 2) Use Robo advisor for automated investments, 3) Purchase individual stocks through a discount brokerage firm, 4) Search low minimum mutual funds, and 5) Buy treasury securities.

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