—TechRound does not recommend or endorse any investment or financial practices. All information in this article is purely informational—
How Do Stock Trading Apps Work?
Stock trading apps are more popular than ever and allow the everyday person to trade stock in a way they never would have been able to before. Stock trading apps allow you to track your investments in the stock market from your smartphone or tablet. With the apps, you can manage your account, buy and sell stocks as you see fit and also monitor the market doing your own analysis of the current trends.
Why Are Stock Trading Apps So Popular?
With the rise of the cryptocurrency market, more people have become involved with stock trading and the stock market than ever before. These stock trading apps allow you to easily buy and sell stocks and understand how to make a profit on the stock market. With close analysis of the market, these apps are a way in which money can be made through their various useful tools.
Choosing the right stock trading app to guide your investments is so important. The tools provided by these apps can help your decisions regarding stocks flourish and that is why TechRound has created this Top 10 guide to show you the best stock trading apps around at the moment.
1. HelloStake
Website: https://hellostake.com/
Stake is one of the fastest-growing stock trading apps on the market – and it’s easy to see why. Stake offers a completely commission free model for trading and allows its users to gain access to thousands of stocks and Exchange Traded Funds (ETFs) only minutes after download.
With over 5,500 US stocks and ETFs on the app and more being added every day, Stake offers all the big names as well as unrivalled sector depth. With access to full company financials, analyst ratings and price targets, Stake allows users to explore companies in great detail and analyse their habits before deciding to invest.
Stake offers market, limit & stop orders as well as fractional trading- all commission free. And most importantly, Stake doesn’t charge any FX fees on US trades, a fee that the majority of other brokers do charge. Customer funds are held in USD meaning users do not have to withdraw money after selling a stock in fear that the value of their money will decrease with exchange rates.
HelloStake is the app to have when trading your stocks and shares.
2. eToro
Website: https://www.etoro.com/
eToro is well known for allowing its users to trade all different types of investments including stocks, cryptocurrencies, forex, commodites and more. It has been well advertised throughout the UK but eToro is a great stock trading app for beginners, new to the stock trading world. eToro’s well designed app is easy to use and its tools including CopyTrader (which allows you to copy the portfolio of the top traders on the app) are great for people who need a kickstart in understanding how stock trading works.
3. WeBull
Website: https://www.webull.com/
WeBull is a new stock trading app that is marked an important place in the stock trading scene. On WeBull there is notably a community section where traders can interact with each other and discuss recent investments and trades that they have made. WeBull is best utilised by active traders who are continually checking in on their investments as well as buying and selling new stocks. Although there are options for premium versions of the app, most users of WeBull will find the free version, where there is no commission charge, extremely accessible and easy to use.
4. Charles Schwab
Website: https://www.schwab.com/mobile
The Charles Schwab stock trading app is great for both beginners and experts. Offering a no-extra fee automated adviser, Schwab Intelligent Portfolios, the app guides you through different investments in an easy to follow manner. There are no minimum deposits and no fees when trading stocks. The Schwab assistant gives users voice control in making trades and setting alerts for your portfolio. An all-round solid stock trading app.
5. Plus500
Website: https://app.plus500.com/
Plus500 is the app to get if you are interested in Contract For Difference (CFDs) investments. CFDs means that the user does not directly own the stock but instead gets the difference in price between the opening and closing trades. Plus500 is the best stock trading app for CFD’s, however users must be aware that this is all that they offer. With a minimum £100 deposit, the Plus500 app comes with useful tools that allow you to chart analysis in an easy to digest format. Moreover, Plus500 is licensed by the FDA, guaranteeing the security of your funds.
6. Fineco Bank
Website: https://finecobank.com/uk/online/mobile-banking.html
The appeal of the Fineco Bank stock trading app is that is has over 10,000 stocks from the EU, US and UK available to trade for its users. The Fineco Bank app allows you to decide whether to buy CFD’s or the stock itself however there is a small commission fee when share dealing. There is no minimum deposit and the app itself is extremely well designed. Fineco is great for those who may be more experienced in the market as there is not much educational material or technical help but for those that know the stock market Fineco is a easy-to-use stock trading app.
7. SoFi
Website: https://www.sofi.com/
For those who are just starting their stock trading journey, SoFi is a great app to start with. Although it does not have the most detailed technical features, SoFi is particularly smooth and easy to navigate. This makes its interface appealing to those who do not have an indepth understanding of the stock market. There are no fees and you are able to have small investments with this app; especially useful is the tool that allows users to browse stocks in connected groups, allowing beginners to see how the stock market operates and how it is connected.
8. Capital.com
Website: https://capital.com/
Capital.com offers some of the best technical features in the stock trading app market. With constant live news updates and analytic reports, Capital.com provides useful insight constantly on your smartphone. A great feature of Capital.com is that its app features a fully-fledged demo mode, this allows the user to practice trading for a long period of time without risking any of their own money. This is a great tool for beginners or for those that are trying to learn more about the stock market. Also a CFD-only app, Capital.com has a relatively simple user interface and allows you trade stocks, cryptocurrencies, forex and much more.
9. Investous
Website: https://www.investous.com
Not many stock trading apps are compatible with MetaTrader4 (MT4), the best trading analysis app, however Investous is. Investous is a commission free stock trading app which allows you to trade stocks, cryptocurrencies and more as CFDs. By being compatible with MT4, Investous allows the more advanced traders to personalise their trading screen and use their own analysis to guide their investment decisions. Although the minimum deposit is quite high at £250, Investous is a great app for the more expert stock traders amongst you looking to delve into deep market analysis before choosing what to invest in.
10. Libertex
Website: https://libertex.com/platforms/libertex
The Libertex app boasts one of the smallest minimum deposits for any stock trading app with just a £10 minimum needed. Although it is not host to the most stocks, with a few hundred of the most traded markets still available, Libertex is still great for both those who are advanced traders and for beginners. There is a demo mode which gives you £50,000 to practice with and the commission fees are extremely low. A great feature of Libertex is that it offers a wide array of payment methods including Paypal, Neopay and many, many more!
What is Stock Trading?
Stock trading is the act of buying and selling stocks on the stock market in order to gain a profit. Stock trading can be done by large companies, set up specifically to trade stock but recently more people have begun to trade individually in the comfort of their own home thanks to stock trading apps. Understanding the stock market and analysing data from many different companies are important tools needed to trade stock effectively.
How Much Do Stock Trading Apps Cost?
Nearly all stock trading apps are free of charge to download. However, most stock trading apps will ask you for a minimum deposit before you are able to buy and sell stock. These deposits can vary from £10 to £250+.
How Old Do I have To Be to Download a Stock Trading App?
All UK-based stock trading apps have a minimum download and usage age of 18.
When Will I See The Profits from a Stock Trading App?
The answer for this is complicated and varies from person to person. Some of the stock trading apps described above allow a person to make a quick profit if they understand the market well enough. However, most investments are long-term and buying and selling stocks is not an overnight job. Many will use these stock trading apps for years in order to see profit and it takes a deep understanding of the market and the continued use of the tools that these apps provide to fully profit from stock trading apps.
—TechRound does not recommend or endorse any investment or financial practices. All information in this article is purely informational—
