Let's look at the best free stock trading apps that you can use to start buying and selling stocks on your phone.
Free stock trading apps are a new thing driven by the latest technology, back in the day you had to call your broker and pay a fee for every trade.
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Now, you can start buying up the worlds most exciting companies from your phone. What a life for ambitions investors!
Our #1 Pick:
If you are in a hurry, here is my number one pick for the best free trading app:
If you use the link above you could get up to $297.50 in free stocks, no deposit needed!
Robinhood is free, very fun to use, has massive amounts of training and news so you can keep up with the latest events. It also has all the tools you need like alerts, stock options as well as crypto training and a very low cost margin trading. I saw this app evolve over time and it has become hands down the most powerful trading app out there right now.
Best Free Stock Trading Apps for 2022
Let's begin with the most “beginner friendly” and then we will look at some of the more advanced stock trading apps and platforms.
Robinhood – Stock and Crypto Trading App
Robinhood is one on the most popular finance apps currently available on Android and iOS. It's one that I've been using for a long time and with great success.
Instead of charging $7-$10 per trade, this revolutionary service allows users to trade stocks for free! That's right, FREE trades. There are no hidden fees on top of standard market rates. It is truly wonderful – there isn't even an account minimum or maintenance fee. This is because Robinhood doesn't have physical retail locations that they need to cover, so they don't charge commissions at all. The company makes money by selling premium features like Robinhood Gold (margin trading) and Robinhood Feed (social trading platform).
This financing model has allowed them to become very popular with millennials who are more comfortable using technology to manage their money.
You can even set up automatic, recurring purchases of stocks or ETFs so you never miss a strong market with Robinhood – absolutely free.
This makes it very easy for anyone to start investing in the stock market without worrying about being charged an arm and a leg by other brokerages. You will receive push notifications whenever there are major fluctuations in the markets.
The interface is incredibly simple, with pre-populated tickers that are updated by Robinhood whenever there are major changes in the market (up or down). You can simply tap on the stock name and you'll be taken to another screen where you can view charts and additional information about your investment.
You can make deposits using multiple payment options like PayPal, Venmo, ACH transfer, check transfer, SEPA transfer (if outside US), and external bank account. Your money will then become available instantly. This allows you to make faster trades with less fees.
You can transfer money between your Robinhood account and your bank account through the app. It takes about 3-4 business days for this process to complete, but it is completely free of charge! Unfortunately there are no retirement accounts available at this time, but they are said to be coming soon.
Robinhood also provides additional features like market news alerts, weekly market recaps, portfolio management tools, stock screeners for finding new stocks to potentially buy or sell, customizable watchlists so you can keep track of multiple stocks at once without cluttering up your home page(s), support for margin trading (borrowing money from the company) so you can potential profits on your investments by 10x or 500%, and a social trading platform where you can connect with other investors to see their portfolios, read news from those people, and copy their trades.
The best part? All of this is available for free! You don't have to pay a penny to download the app or use any of the services mentioned above. The only costs imposed on users are related to trading stocks, which typically cost $5 per trade depending on your plan (Gold vs. Free). This averages out to 0.005% fees per trade – not too shabby at all!
Robinhood is the first and one of the best free stock trading apps on the market. They have had issues with preventing people from buying certain stocks (*ahem* GAMESTOP), but still overall a great choice.
WeBull – Mobile Stock Trading App
I've been asked a lot lately about whether or not you can trade stocks on your smart phone. The answer to that question is, “Yes!” There are many apps out there for trading stocks on an iphone and other smart phone devices. One such app is Webull. I'm going to show you how it stacks up against the other options available, and why we made it one of our top 5 apps to use when investing in stocks!
1) Stock Market News:
Whether you're just getting started with online stock trading or if you're a seasoned investor, news and information about the market can really help inform your decision-making process. Webull offers several different methods of staying informed on the market.
One option is to use the watchlists that are provided for you in Webull. Simply add a stock symbol and it will be added to your list of stocks. From there you can choose how often you would like to receive an update on the stock, simply click on “Watchlist” from the drop-down menu, then select “Refresh.” You'll be able to see news headlines related to your company, analyst ratings and even a chart showing historical prices over time!
Another way that they keep investors informed is through their blog and monthly newsletters . Having quick access from your smart phone into this information can help give you insight when deciding when or if you want to invest in a company. If you find a company that you're interested in learning more about, you can also click on the symbol directly from the news articles to pull up the full report for that company.
2) Direct Stock Trading:
Webull allows investors to trade stocks using different strategies. The basic option is to buy and sell stock at market price, but Webull provides options to begin trading with “limit orders,” which are advanced options that provide more flexibility when placing trades. It's important to note that limit orders are subject to additional fees .
Another unique feature of Webull is its capability for investors who want immediate access to their funds after selling stock. This feature is called Direct Reinvestment , and it allows you to have your dividends reinvested directly into more shares of stock, instead of being paid out to you as cash. It's a good option for investors who are looking to grow their portfolio quickly and effortlessly.
Webull also provides a feature called Flex Accounts . This is a margin account that allows users to borrow money from the broker in order to purchase more stock than they would be able to afford if using a standard cash account. The interest rate charged on this line of credit is based on your brokerage's base lending rate and relevant laws . In general, margin loans tend to carry higher expenses that may significantly reduce or even eliminate any trading profits .
3) Options Trading:
When it comes down to actually buying stock from Webull, there really isn't much of a difference from any other online options trading platform. A “Stock Quote” section is provided for each stock where you can place trades directly from the app, similar to how it works on the computer version. You can also view charts and company information from this page as well.
The only real difference with Webull's stock buying process comes from its option trading capabilities. When viewing a chart for a specific stock, a red line will appear indicating the strike price of the most recent trade. This helps investors buy calls or puts at a specific strike price that they have identified as being optimal .
4) Investment Tracking:
Webull offers several different ways in which you can track your investment portfolio using their app. The first option is to simply view your “Portfolio Summary” page . This quick, easy-to-use interface displays all of your holdings and returns over various time periods. It will even allow you to break down the performance of each stock by percentages, dividends received or total gain/loss in value.
The next method of tracking investments is through the use of Watchlists . A watchlist is a list that you can create within Webull's app showing any stocks you would like to monitor and keep track of on a regular basis, such as those that are part of an investing strategy or just for fun! You can add symbols to your lists either by using the “+” icon found at the top of each list, or by scanning the company's symbol using the QR code scanner option provided in Webull's app. Once you scan a company's symbol, it will automatically be added to your watchlist!
Webull currently provides 5 different types of charts that can be used when viewing information about any stock or ETF. These chart options include Line , Candlestick , Heikin-Ashi , Point & Figure and OHLC . Each type has its own distinct advantages, so it is recommended to try out each available type to see which one works best for you before committing.
By clicking on the magnifying glass icon located on the top right corner of any of these, a menu will appear with a list of chart styles to choose from. Although the option to add annotations, or notes/comments, is not available for free version users, a “Share” button is provided allowing you to save your charts and share them on social media sites such as Facebook and Twitter!
One unique feature of Webull's app is its ability to provide a second window while viewing a chart . When you click on this icon at the top right of the screen , another window will pop up that provides additional information about each point including volume data , moving average lines and more.
6) Technical Indicators & Oscillators:
Webull's app provides an impressive 50 technical indicators and oscillators that can be used within any chart. These are divided into six different groups with each providing its own collection of tools that can be applied to the chart.
The most popular indicators are available for free version users , such as moving averages, Bollinger bands and relative strength index (RSI), while the rest must be unlocked by upgrading to a paid, premium package .
Just click on the magnifying glass icon found at the top right corner of any chart page and select “Indicators” from the drop down menu that appears.
WeBull is the best free stock trading app on the market right now.
TradeStation – Advanced Stock Trading Platform
The app allows people to trade on their mobile devices while away from home or office. The trading features are similar to the other popular trading apps in the market today. However, what sets it apart are other services offered by TradeStation. These include an auto-trading service which automatically executes trades according to pre-defined parameters set by traders using algorithmic programming language. This feature can save traders time and money as they would no longer need to monitor market fluctuations every now and then just to see if this is a good time for them to buy or sell currencies, stocks or commodities such as gold and silver. With the use of this app, traders can be on the go and yet still make money.
This application is suitable for intermediate to advanced traders who already have an account in TradeStation . Members of this fintech company need only register in the mobile version of their website to start using any of its services which include a pre-defined list of predefined trading strategies that they can use in real time. The site also allows subscribers to create their own strategies from its Strategy Generator. This is ideal for beginners who do not have a preset strategy when it comes to trading foreign exchange or stocks. Once chosen, subscribers can test out each strategy through simulated trades with sample portfolios before actually executing actual trades with their brokerage accounts.
Once you've signed up for a TradeStation account, you can start using this app anytime and anywhere provided that your mobile phone is connected to the Internet. The company's servers translate the orders sent by users into actual executable trades.
The TradeStation trading application comes with detailed reports of both profitable and unprofitable trades which include specific details such as price points where orders were executed. This provides subscribers an opportunity to go back and see what worked and what didn't work for them during a particular day or week. It also allows them to study their trading strategies further, refine these if necessary then apply the ones that have shown positive results in actual live trading conditions.
What are its Drawbacks?
While TradeStation has made significant strides in its services through the years, there are still a lot of things that need to be done to make this application truly user-friendly. For example, the app is only available for iOS devices which is limiting since Android phones are also preferred by most people today.
TradeStation is great tool for anyone who wants to up his game in trading but would like to do it through an app on their mobile phones instead of at home or office. Technology has evolved and now, with this fintech company's latest innovation, traders can even monitor their trades when away from work or home.
SoFi – Personal Finance and Stock Trading
As a first-time investor, I've been curious about the stock market for a while. However, I haven't quite found the right investment vehicle that suits my needs. Luckily, I came across SoFi investing app – a new mobile app that lets you participate in the U.S. financial markets using pre-determined bundles of stocks called “Pies”.
I took some time to try out their Android application and it's definitely helpful especially for beginners like me. First off, setting up an account is really easy! I was already logged in when I opened their dashboard because it uses my Gmail account for authentication purposes. And rather than asking about my background or risk appetite, they simply give you four options on how much money you want to invest: $100, $500, $1000 and $5000.
Before I chose anything though, I had to see what they offer first. It was already an eye-opener for me because their “pies” actually look like a pie! When you click on each bar graph (pie), it will show you the stocks included in that bundle. This way, you'll have a good idea of what your money is going to… sofi investing app .
I also liked how they let me know my estimated gains over a specific period depending on which pie I choose – one day up to five years. Of course no investment can guarantee returns but seeing those numbers really helped me decide which option is best for me.
After choosing my preferred Pie, I was then asked to fund my account. They support ACH deposits so you can easily transfer money from your bank account. Once that's done, I simply made a deposit through their Android application (or website) and voilà! My investment is now live. Withdrawing it is also straightforward because you can send an email or call them for the details on how to do it.
As far as their fees are concerned, they actually charge $0 commissions for all transactions made using their app which was quite impressive given its market-leading position in terms of innovation . The only fee they have is the 30-day yield fee which ranges between 0% 3%. This means that after 30 days, my account will start generating dividends depending on the “Pies” I selected.
All in all, SoFi investing app is definitely the type of service that I've been looking for. It's not only easy to use but it also provides great insights about your investments even if you're a first-time investor.
Vanguard – Low Cost, Long Term Investing
Vanguard is one of the best stock trading platforms and one I personally use for my long term holdings.
If you look for a cheap and good online platform to invest your money in stocks, Vanguard is certainly an option you should consider. Established in 1975 and based in Malvern, Pennsylvania, the company has more than 20 million clients around the world and manages about $3 trillion dollars. It offers its services through several companies: Vanguard Investments Australia Limited (for Australian residents), Vanguard Investments Canada Inc., Vanguard Investments UK Limited (for British citizens) and finally Vanguard Investments Hong Kong Limited (Hong Kong citizens). But not all types of accounts are available in every country. For example, it's possible to open an account at vanguard only if you live in United States or Australia. Fortunately, we provide you with a guide that explains everything you need to know in order to successfully open an account!
A brief history of vanguard investments
The Vanguard Group was founded by John C. Bogle, who came up with the idea of offering its clients very cheap prices and low fees. Before starting his own company, he worked for many years at the Wellington Management Company and helped it manage $4 billion dollars. In addition, he was also responsible for creating the first index fund in 1976: the “Vanguard Index Trust 500 Portfolio”, which tracks the S&P 500 index and is still in use today (with almost $9 billion dollars in assets under management). The success of this fund led him to create other funds like the “Vanguard Total Stock Market Index Fund”, which includes all the U.S. stocks listed on NYSE, NASDAQ and AMEX.
The decision to offer only index funds was a radical choice for the financial industry, but it turned out to be very lucrative for investors because they can gain more money by investing in an entire market rather than trying to beat the market by choosing the best stocks. Vanguard now manages about $2 trillion dollars in assets under management thanks to its cheap fees (an average of 0.17%). It's now one of the most important players on Wall Street and has been named several times as “the world's best online broker” .
Bogle retired from his position as CEO in 1999 and left Charles “Chip” Payson in charge. He was succeeded in 2000 by William McNabb. At the end of 2008, F. William McNabb III took over as CEO and chairman of the company, but he left his position on September 30, 2015 to become chief executive at BNY Mellon Investment Management. The current chairman of Vanguard is Gregory A. Johnson who has been a member of its board since 2007 while serving in several finance positions before taking this post (Fidelity Investments, BlackRock Financial Management).
The vanguard group is very well known for its low fees when it comes to managing money or buying/selling stocks/bonds etc., which are some of the lowest in the financial industry.
As mentioned earlier, one of the main things that makes vanguard stand out from the crowd is its low fees, which makes it one of the best free stock trading apps. The average investor can save a lot of money by using vanguard as an investment platform because they charge lower annual fees than most other places. In fact, their portfolio expense ratio (which covers all fund expenses) average 0.17%, which is an extremely good ratio!
BONUS: Best Stock Trading App for Research
Anyone who has ever tried stock trading knows that it can be both an exciting and nerve-wracking experience.
You need to get the latest news, research and analysis to stay ahead of the pack.
Here are five of the best stock trading app for researching and keeping up with the latest news.
1. Yahoo! Finance (Free)
The Yahoo! Finance app is an excellent resource for staying up to date on financial news in general, not just related to stocks specifically. It's also great for finding individual stocks to buy or short sell using real time quotes from various exchanges around the globe. The app includes a custom feed so you can receive instant updates when key company events occur, such as earnings reports or press releases, and it also offers notifications when stocks hit certain price thresholds. You can track and compare stocks, watch breaking financial news videos and access Yahoo! Finance content in a mobile-friendly format.
2. Money Lover (Free + Paid)
The Money Lover app allows you to not only follow your favorite stocks but also the stocks of your friends and family members who are using the app as well. You can easily see how they're performing, and if their selections do well over time, you'll get credit for the advice. It's basically social networking meets stock trading — perfect for those who like working with others to manage their money. The free version is ad-supported; upgrading will remove ads and add a few other useful tools , such as a currency converter and a bank tracker.
3. My Stocks (Free)
My Stocks is one of the best stock market apps in terms of simplicity. It simply enables you to track your stocks and monitor their performance, with customizable alerts that will notify you when movements reach certain thresholds. You can set up multiple portfolios, add new ticker symbols with ease, and get recommendations for other stocks based on your current selections. The app allows you to make trades from within the software itself using some of the world's most trusted exchanges — including NASDAQ, New York Stock Exchange and London Stock Exchange — at no extra cost.
4. Investopedia – Investing, Personal Finance & Money ($2)
The Investopedia app is one of the best stock market simulators you'll come across. It offers nearly 100,000 articles on stocks, general financial markets and other topics related to money management. The app also functions as a crash course for those who aren't familiar with all there is to know about investing. You can track your own stocks within the software itself or use it as a reference guide when composing research reports or otherwise analyzing individual ticker symbols.
5. Stocks Portfolio Tracker (Free + Paid)
The Stocks Portfolio Tracker app tracks your shares so you can see how well your investments are performing over time without having to look at multiple screens or constantly refresh feeds yourself. Manage portfolios easily by adding new tickers or deleting old ones — even on the go, if you're using an Android tablet. The app allows you to add new stocks and watch lists on the fly, and it lets you know when your portfolio is no longer profitable. You can also import data from other tracking services, such as Google Finance or Yahoo! Finance, so you won't have to re-enter information every time you want more up-to-date stock quotes .
In Summary: Best Free Stock Trading Apps
You can't go wrong with any of the best free stock trading apps listed above. Each one is good and appeals to a different investors type, but overall these are the cream of the crop investing apps.