Today, trading is accessible to everyone. You don’t even have to be a professional. There are numerous mobile applications which even beginner investors can use to predict currency or cryptocurrency prices. For instance, you may check some details for crypto trading on this site.
Very often newbie traders start their journey with mobile applications. There are numerous solutions that both newbie and professional traders will find useful.
Let’s review some trending applications for trading in 2024 based on their functionality, fees, and tradable assets. If you don’t want to read a long text, jump right to short platforms overviews.
1. TD Ameritrade
This is one of the solutions targeting both professional and beginner traders. There are different types of investments available, such as options, futures, and foreign currency.
The best part about this platform is the absence of an upfront account deposit. If you are just starting with trading, it’s great since you won’t risk money.
Short platform overview:
- Low fees
- Separate apps with basic and advanced features
- Multiple trading assets
- Different account types
2. Fidelity Investments
If you are looking into stock trading from a long-term perspective, this application is a smart choice. It’s designed for beginner investors with no minimum deposit required and comparatively low fees. Fidelity supports such trading assets as stocks, mutual funds, ETFs, etc.
Short platform overview:
- Low fees
- Different trading assets
- Different account types
- Education and research information
3. Webull
This is another solution for noobs in investment. Wide functionality is combined with no account minimum and low fees. Such characteristics make it an attractive choice for many. You can also trade different types of assets, which is another benefit in favor of this solution.
Short platform overview:
- No platform fees
- No upfront deposit
- Two types of accounts
- Multiple trading assets
- Members community
4. Sofi
Social Finance or Sofi is a solution targeting beginner traders exclusively. The platform provides a lot of educational articles helping users explore investing. It requires a one-dollar account balance, however, the platform doesn’t charge you for buying and selling operations.
Short platform overview:
- Low fees
- Different account types
- Events for members
5. Charles Schwab
This is another solution that stands out from the ground thanks to a unique feature – Schwab Intelligent Portfolios. This is a built-in adviser that is available to all users for free. This feature makes Charles Schwab a great application for both experts and newbie investors.
Short platform overview:
- Low fees
- Separate apps with basic and advanced features
- Multiple assets
- Different account types
- Educational and research resources
6. E*TRADE
Just like many other solutions, E*TRADE is a choice of both experienced and beginner investors. The application provides a plethora of information for beginners, such as market researches, and robust trading features for professionals. This application will teach you a lot about how to create a strong investment portfolio from the ground up.
Short platform overview:
- No trading fees
- No account minimum
- Extensive research resources
- An app for advanced traders
- Available assets: stocks, options, EFTs
7. Acorns
This is a unique application compared to the mentioned alternatives. It offers much more than just trading options. The solution has the option to invest your charge. After you link your credit or debit card, the apps round up all purchases, investing the difference in stock automatically. Provided educational information makes it easy to not only dip your toes into the trading but dive deep into it. The main disadvantage is a monthly fee from a dollar to five, depending on the plan you choose.
Short platform overview:
- No account minimum
- Automatic investment of spare charge
- Educational resources for beginners
- Cashback at some retailers
- Different account types
8. Ally Invest
Ally Invest will be a great choice for those who don’t want to dedicate a lot of time to making profitable business investments. Robo-advisor will create a managed portfolio for you; however, you will need to put $100 upfront into your account.
A manual trading option is also available with the provided market analysis tools and researches which help to make the best choices.
Short platform overview:
- No account minimum
- No trading fees
- Advanced search resources
- Multiple assets available
9. ZacksTrade
This solution holds a secure place among trading applications for experienced and active investors. The platform provides broker-assisted trades, making it great who are looking for human brokers. The main disadvantage of this solution is its high trade cost as compared to competitors and an account minimum of $2,500. So, if you decide to stake on this solution, you better be serious about your intentions.
Short platform overview:
- Robust research resources
- International exchanges
- Multiple assets available
10. You Invest
You Invest by J.P.Morgan is a great solution for noobs in trading. The platform provides all the needed tools for those who are just tapping the waters of trading. However, for more experienced traders this solution might seem a little too limited in terms of available assets and trading tools.
Short platform overview:
- No account minimum
- No trade fees
- Multiple assets available
To Sum Things Up
Solutions for stock trading are numerous and you can choose them based on your personal preferences, experience, and mobile device you are using.
For example, solutions with no account minimum are great for a newbie, since they can explore their features without paying a monthly fee. This way, you will minimize your spending while increasing the chance of benefiting from investments. After you become a skilled hand at trading, you can move to more advanced trading platforms with robust features and a wider range of trading assets offered.
You can also approach stock trading from an entirely different perspective and turn it into a business by developing your own trading app. If you are not a pro in software development, you can hire a development company, like MLSDev, that will help you turn your idea into a successful trading application.
