15 Best Stock Apps for Investing

Self-directed investing has become very common. In January 2021, in the early days of the COVID-19 pandemic, 6 million people downloaded investment apps, tapping into a global e-trading marketplace worth more than $8 billion.

These trading apps do much more than offer a platform for buying and selling stocks. They provide access to different types of assets and feature automated financial advice tools that recommend investments based on the information you enter.

In addition to stocks, bonds, and options, the best investing apps bring you mutual funds, exchange-traded funds (ETFs), futures, forex pairs, and even cryptocurrency trading. In other words, trading almost any assets you wish to buy and sell directly from your phone is simple.

The problem is that there are so many self-directed trading apps that it is impossible to choose the one that best fits your needs. Most stock trading apps offer a similar set of basic features.

However, some have unique traits that set them apart and make them more accessible and valuable to investors. For example, the best online stock trading platforms for active traders may not be the best choice for new investors.

Here is a look at the best stock investing apps, their features, and advice on selecting the best one for your experience level, risk tolerance, and investing goals.

Best-Of by Category

Category	Product
Best for Advisory Tools	Personal Capital
Best for Beginners	Robinhood
Best for Active Traders	TD Ameritrade
Best for Automated Investing	Betterment

How We Assessed the Best Investment Apps

Firstly, you should understand that the best apps for investing in stocks will depend on your financial goals. Each of these apps has different features, advantages, and drawbacks. The “best” option is the one that offers the most features for your stock trading style with the fewest disadvantages.

For this reason, our review of the best investment apps focuses on the features that make each one unique and the tools they offer for self-directed investing. Using this information, combined with cost, user interface, and accessibility, we decided which type of investor would find each app the most useful.

While some stock apps are attractive to a wide range of users, others are the best option for active traders with specific needs and strategies.

The 15 Best Stock Apps Currently Available for Download

Here is a look at the 15 best apps for buying stocks, their features and costs, the markets they offer, and the type of investors that can benefit from them.

1. M1 Finance

M1 Finance is a low-cost trading app with limited fees and modest deposit requirements. It offers the option to create your investment strategy or use pre-built portfolios that M1 calls “pies.”

Because of this mixture, M1 Finance is a good option for those seeking a low-cost Robo-advisor setup and for self-directed investors looking to avoid expensive fees. You can also set up a retirement account and use spending and borrowing features.

The ultimate goal of M1 is to facilitate automated investment management. Those who want a hands-on approach or plan to engage in short-term investing will be disappointed by the lack of day-trading-specific tools. On the other hand, digital checking accounts and access to lines of credit are ideal for people who want to manage all their finances through their investment platform.

Origins

M1 started in 2015 with most of the features it retains today. It manages about $6 billion in assets and has nearly 500,000 members.

Costs and assets

M1 Finance does not charge fees for trading ETFs, stocks, and REITs. Derivatives, currencies, and crypto are not part of the platform. Also, there are modest deposit requirements. You need to add $100 to your account to start investing and $500 to establish a retirement account.

Features and services

In addition to serving as a broker for stock and ETF investments, M1 has checking accounts, IRAs, Roths, and SEP retirement accounts. You can contact customer service via phone, email, or chat app. There are both mobile and browser versions of the platform.

Pros: Why is M1 a good stock app?

You can minimize fees with M1 and manage your profits via the onsite checking account. Also, the modest deposit requirements set a low barrier to entry into the investing world. Novices will appreciate the many pre-made portfolios, while more experienced investors can take advantage of the customizable automation features.

Cons: What are the drawbacks to M1?

If you want to expand your portfolio to include currencies, futures, and crypto, this app is not for you. Also, it is geared toward retirement accounts and long-term investing, so day traders and technical traders will want to look elsewhere.

2. SoFi

Social Financial (SoFi) is an online financial services company that offers self-directed investing, among many other products. It is most well known for its lending services and online bank accounts, but its SoFi Invest service provides access to a trading platform. In addition to its automated investing platform, you can access financial planning services and even engage with career counselors.

All these features make SoFi a good option for investors just starting. However, advanced traders will also find a lot of positives. Fee-free trading is available, there are no account minimums, and you can access alternative investments like cryptocurrency. Unfortunately, the choice of account types is quite limited.

Origins

SoFi began in 2011 as a financial company offering bond-backed student loans. It added a fee-free investment platform in 2018, cryptocurrency trading in 2019, and online bank accounts in 2020.

Costs and assets

SoFi is a fee-free trading platform. The account minimum is only $1, and stock and ETF trades are fee-free. Adding bonds and cryptocurrency trading gives investors plenty of assets to choose from.

Features and services

SoFi Invest has a basic trading platform with free services. In addition to algorithm-based Robo-advising, you can meet with a human financial planner. There are even career counseling services available. Essential advising services are free.

In addition to a standard investing account, SEP, IRA, and Roth retirement accounts are available. You can also open a checking, and high-yield savings account with SoFi.

Pros: Why is SoFi a good stock app?

SoFi is a good option for novice investors because of its $1 account minimum and fee-free trading. The advisor services can be helpful for new investors to negotiate the learning curve. More experienced traders may appreciate the lack of fees and the chance to dabble in other areas, like cryptocurrency.

Cons: What are the drawbacks to SoFi?

SoFi has experienced a string of controversies related to its student loan business. The platform is relatively new and only has $523 million under its management, so it is somewhat unproven. Furthermore, it lacks advanced features like tax harvesting, which could be a deal breaker for active traders.

See Related: Best Investments for Young Adults

3. Acorns

Acorns is a micro-investing app aimed at beginning investors and people who struggle to save. It is built around features that allow users to round up purchases on their linked debit cards to the nearest dollar, with the extra cents going directly to their investment account. The idea is that these small contributions add up over the years without requiring any special savings efforts.

Unlike some competitors, Acorns has membership tiers fees, so you have to pay $1, $3, or $5 per month for extra services like automatic rounding up. If you use these features, this might not be an issue, but the costs could be problematic if you do not and would rather focus on investing instead of saving.

Origins

Acorns started in 2012 and is currently one of the more popular trading apps. It has 8.2 million customers and manages more than $3 billion in assets.

Costs and assets

It is important to understand the costs with Acorns. Account fees for most investing accounts are $3 per month, though there is a $1 option. It only costs $5 to open an account, and stock, ETF, mutual fund, and REIT investing are free. However, there are annual account management costs.

Features and services

Acorns offers checking and savings accounts, and you can link a debit or credit card to participate in the round-up saving scheme. Brokerage and retirement account options and Robo-advisor services mainly focus on choosing ETFs that meet your investing goals.

Pros: Why is Acorns a good stock app?

Acorns is a good stock app for people who will take advantage of the round-up features and want to engage in a passive investment strategy involving buying and holding. Anyone who has trouble saving will appreciate this app.

Cons: What are the drawbacks to Acorns?

Acorns has higher fees than other self-directed investment apps. Assets are limited to stocks and ETFs, and there are no human advisor options; the only investing advice comes from algorithms.

4. Robinhood

Robinhood is one of the more popular stock trading apps. It may or may not be the best free stock trading platform, but it is responsible for starting the commission-free trend.

It was the first to introduce the idea of no-fee trading, though other trading platforms quickly adopted this policy. In addition to avoiding fees, Robinhood users do not have to meet deposit requirements.

Because of its user-friendly app design and easy-to-understand UI, Robinhood is especially popular with young investors new to purchasing shares and other assets. However, it has also introduced a Gold service that offers margin trading and access to advanced research tools for $5 per month.

Robinhood has been at the center of controversies involving some of its practices. At the same time, it offers options and crypto, which most other entry-level stock apps do not have.

Origins

Robinhood started in 2013 and quickly became popular because it was one of the first platforms to offer fee-free trading. It currently has more than 15 million active users.

Costs and assets

Robinhood does not charge fees for executing trades, and it has no account minimum. It offers many assets, including stocks, ETFs, options, and crypto.

Features and services

Robinhood has a user-friendly and intuitive interface. You can also open a cash management account to access your money quickly.

There are fractional shares, which allow traders to invest in blue-chip stocks even with limited capital.

Pros: Why is Robinhood a good stock app?

Robinhood has two significant advantages. First, it has an intuitive, easy-to-understand user interface that appeals to novice investors.

Second, it has no fees or account minimums, which can help keep trading costs low for new and experienced investors. Adding options and crypto trading to the mix also set Robinhood above many competitors.

Cons: What are the drawbacks to Robinhood?

Robinhood offers crypto and options, but overall, it lags behind other full-service online brokers regarding available assets. It also has limited research tools and no Robo-advisor features. Critics have also complained about poor customer service and problems with service outages.

5. Betterment

Website Landing Page of Betterment — Betterment Website

Betterment is one of the top choices among investing platforms if bigger is better. This company is the largest stand-alone Robo-advisor in the industry, with nearly $32 billion in assets under management. It provides automated investment advice and services, such as customizable and pre-built portfolios, automatic investments, and the ability to start investing with modest capital thanks to fractional shares.

The focus on portfolio building makes Betterment a good option for more passive investors who plan to buy and hold assets. Beginners can open a digital account with fee-free trading, no account minimum, and a reasonable 0.25% management fee. Those who are further along with their wealth-building can opt for a premium account, which requires a $100,000 balance and has a 0.4% management fee.

Origins

Betterment started in 2008. It has 700,000 users and manages over $32 billion in assets. It recently added cryptocurrency portfolio management to its list of services.

Costs and assets

Betterment has no account minimum for digital accounts. There are no fees for trades, but the system focuses on portfolio building rather than active trading. Most investment products are stocks and ETFs. There is a 0.25% management fee for digital accounts. This is more than the completely-free stock apps, but cheap compared to other platforms with similar services.

Features and services

Betterment offers a wide range of ETFs and also has fractional shares. Robo-advisors are available to everyone, and premium accounts have unlimited access to human advisors. The advice can include portfolio building, tax strategies, and risk management.

Pros: Why is Betterment a good stock app?

Betterment is a reasonably-priced Robo-advisor option for people who are just starting to build wealth and want access to customizable and pre-built portfolios. Tools like automatic rebalancing are available to all customers for free, and the management fees are meager compared to other wealth-building platforms.

Cons: What are the drawbacks to Betterment?

This is not a platform for active traders or people who desire to avoid all fees. Also, if you want access to human advisors, premium research materials, and other advanced tools, you need to have a premium account, which requires a $100,000 deposit.

6. Wealthfront

Wealthfront is a feature-rich stock app and Robo-advisor platform. It offers a similar approach to Betterment, focusing on portfolio-building rather than active trading.

Wealthfront offers specialized tools for specific investment strategies. For example, you can focus your investment on social responsibility, add crypto to your portfolio, or create an index with individual stocks.

Free digital planning and investment strategy features are available to all Wealthfront investors, as are helpful tools like tax harvesting. Wealthfront’s management fees are similar to Betterment (0.25% annually for digital accounts), but there is a $500 account minimum.

Origins

Wealthfront is one of the older digital portfolio management companies. It began in 2008 and now has $28 billion in assets under management.

Costs and assets

There is a $500 account minimum for all Wealthfront customers. This may turn people with minimal capital off. However, there are no trading fees, and the management fee is 0.25% per year, which is very competitive with other similar stock apps. In addition to stocks and ETFs, cryptocurrency can be added to your portfolio.

Features and services

Wealthfront has algorithm-powered investing advice and various tools, such as stock indexing, risk parity, and socially-responsible investing categories. You also get daily tax-loss harvesting and automatic portfolio rebalancing, which are rare among stock apps.

Pros: Why is Wealthfront a good stock app?

Wealthfront offers a wide range of features for portfolio planning and customization. Reviews often point to the quality of its Robo-advising tools, which are compared favorably to human financial planners. People with $500 to deposit wanting access to a feature-rich portfolio management platform will consider Wealthfront a top investment app.

Cons: What are the drawbacks to Wealthfront?

Wealthfront is not a good option for active traders or people seeking to use options, futures, and other derivatives. The $500 account minimum, the lack of fractional shares, and the absence of other budget-oriented investment features will likely turn off those wanting a low-cost, low-commitment option.

7. Personal Capital

Personal Capital is another portfolio-focused investment platform with Robo-advisor features. Its main selling point is its comprehensive range of free money management tools that can work for active wealth building or retirement savings. The company also offers cash management tools, such as a high-yield savings account and checking services.

Personal Capital is known for its user-friendly interface and customer-centered features like 24-hour live phone support and free tax and investment advice. However, one significant drawback many investors will find disqualifying is a $100,000 account minimum.

Origins

Personal Capital was launched in 2010. It manages $21.9 billion and is well-known for its capital management expertise. The NBA Players’ Union has teamed up with Personal Capital to offer wealth management education to its members.

Costs and assets

Personal Capital has many features available to all members. Though there are no membership tiers, you need to make a $100,000 deposit to become a site member.

Features and services

Personal Capital has excellent customer service, with 24-hour live phone support available. Members can also use the services of qualified financial planners and wealth advisors. Banking services are free for all customers, and there are automated portfolio building, rebalancing, and tax tools.

Pros: Why is Personal Capital a good stock app?

Personal Capital is one of the most feature-rich stock apps on the market. It offers access to live support and advanced automated advising tools. You can also work with human advisors. There are also computerized tools for assessing cash flow and building a retirement plan. Overall, Personal Capital has more tools and features than other portfolio-building stock apps.

Cons: What are the drawbacks to Personal Capital?

Personal Capital has one major drawback: you cannot open an account with less than $100,000. This means it is not a good option for young investors or those just starting to invest.

See Related: Betterment vs Personal Capital: Which One Is Better?

8. eToro

eToro offers a versatile list of assets. You can trade many cryptocurrencies and more traditional investments like stocks and EFTs. In complement to the most liquid crypto pairs, eToro has an exciting array of social features, including CopyTrader, which allows investors to mimic the strategies of more experienced traders.

eToro is accessible and has low deposit requirements. However, a 1% fee on all currency trades can eat into profits and amplify losses. Read our full eToro review for more information on how the platform can help you invest.

Origins

eToro was one of the original social trading platforms. It debuted in 2007 and has offices worldwide, with its headquarters in Tel Aviv, Israel.

Costs and assets

There is only a $10 deposit minimum to open an eToro account, but you need a $200 balance to use some features, including the CopyTrader tool. In addition, the fees for crypto trading sit at 1% of the value of each position. There are no commissions on stock trades.

Features and services

eToro offers fee-free stock trading, but its main draw is its cryptocurrency products and social trading systems. There are also tools for researching cryptocurrency and stocks. In addition to a browser-based platform, there are well-reviewed apps for both iOS and Android.

Pros: Why is eToro a good stock app?

eToro is a good option if you want to trade cryptocurrencies and learn by following the strategies of more-experienced investors. The apps are user-friendly and intuitive, and some users appreciate the social aspects of the platform. If you want to balance your investing between cryptocurrency and traditional ETFs, eToro is an excellent option.

Cons: What are the drawbacks to eToro?

eToro has relatively high fees, with commissions costing 1% of each trade. Other crypto-only platforms have lower fees, so unless you plan to use the social trading tools, you will find cheaper alternatives elsewhere.

9. Public

Public is a commission-free, community-based investment app for novices and young investors. Because of its objective of making investing accessible to everyone, Public has a wealth of educational offerings. Also, there are no commissions on any trades. There is also a popular social feed where you can interact with other traders, get advice, and discuss market conditions.

Public offers stocks and ETFs; you can trade cryptocurrencies on the platform.

Origins

Public is a relatively new app that copies the zero-commission offerings of other stock apps, like Robinhood.

Costs and assets

Public does not charge a commission on stock and ETF trades. There are no fees for crypto trading, the platform marks the coins up 1% to 2%, so they are more expensive than on other platforms.

Features and services

Public offers trading via mobile apps and desktop. Its apps are on par with others in the industry in terms of ease of use. In addition to a wealth of educational material, there is a social feed to interact with other traders.

Pros: Why is Public a good stock app?

Public offers a decent user interface and a modest range of assets, including some cryptocurrencies. Novice investors will appreciate the educational focus of this site, and anyone who wants to interact with other traders will enjoy the social feed. However, Public is best for those who want to trade stock and ETFs without commission because of the markup on cryptocurrencies.

Cons: What are the drawbacks to Public?

Like other stock trading apps aimed at beginners, Public lacks some of the features high-volume traders, experienced investors, and those who use derivatives for speculation need for trading success. Those who don’t need the education or social aspects of Public are likely better off looking elsewhere.

10. Titan

Titan is a financial investment platform that offers a hedge-fund-like experience. The goal of Titan is to facilitate the selection of high-quality stocks for actively managed portfolios.

Titan is an accessible app with a $100 minimum for basic stock-trading features. The active management services kick in with a $10,000 deposit. This is still an accessible minimum for people looking to build a portfolio with the help of a professional.

Origins

Titan is a relatively new startup but already manages more than $1 billion in assets.

Costs and assets

Basic accounts are available with a $100 deposit. These include commission-free stock trading and access to ETFs and international markets. Also, there are cryptocurrency and REIT products available.

Managed accounts are available with a $10,000 deposit. The management fee is 1%, which is very high for an investment app but low for a hedge fund.

Features and services

Titan focuses on selecting assets for a higher rate of return. You can choose from a basic or managed IRA, Roth, or SEP retirement account. Tax-loss harvesting and asset isolation are also standard on all memberships.

Pros: Why is Titan a good stock app?

Titan is a good stock app for those who want portfolio management and an aggressive approach to investing that they might get with a hedge fund. The $10,000 deposit requirement and 1% management fee are very low for this type of hedge-fund-like service.

Cons: What are the drawbacks to Titan?

Titan is likely not the best option unless you want an aggressive wealth-building approach. Other investment apps offer the same fee-free trading without active management.

See Related: Best Banks for Low-Income Earners

11. Webull

Webull is a free stock trading app because of its low costs. It does not charge a commission on stock trades. Also, you have access to options, cryptocurrencies, and ETFs.

The low prices will appeal to new traders who want to get started cheaply. Active investors will also appreciate the lack of fees, especially if they trade daily or use options.

Unlike many other budget platforms, Webull has good technical analysis features and extras like Level 2 quotes (free for the first three months of membership). It is an excellent option if you trade the assets that Webull offers. However, you need to be aware of some drawbacks, such as payment for order flow (PFOF), which can sometimes bring lower prices when you try to execute a trade.

Origins

Webull was created with backing from American, European, and Chinese investors in 2017. It has become the primary alternative to Robinhood among young investors.

Costs and assets

Webull offers commission-free trading. It has no account minimum. In addition to stocks, Webull offers 11 cryptocurrencies, ETFs, and options. Unlike many brokers, there are no fees to trade options on Webull.

Features and services

Webull focuses primarily on trading. It does not have interest-bearing checking or savings accounts but offers advanced trading features. These include charting with indicator overlays and access. With at least one monthly trade, you get free real-time quotes, news, and analysis from Nasdaq TotalView and Thomson Reuters.

Pros: Why is Webull a good stock app?

Webull is ideal for active traders who want charting and technical and fundamental analysis news features. These features make it a better option for active traders than many Robo-advisor apps focusing on portfolio building.

Cons: What are the drawbacks to Webull?

Webull offers fee-free trading using a payment-for-order flow (PFOF) arrangement. This can harm execution and lead to order slippage. Also, Webull does not have currencies, futures, or other investments.

12. E-Trade

E-Trade was the original online service to trade stocks. It started offering services via American Online in the early 1990s. It responded to challenges from $0 commission apps by doing away with its fees.

E-Trade is a full-service brokerage for retail investors. It provides access to a wide range of assets, from stocks and bonds to currencies and options.

You also get plenty of tools for both technical and fundamental analysis. However, the many available tools and assets may confuse those who want a more straightforward setup.

Origins

E-Trade began as TradePlus in the early 1980s. It was the primary online brokerage in the early days of the internet. In 2020, financial services company Morgan Stanley acquired E-Trade.

Costs and assets

E-Trade offers commission-free trades and has a $0 account minimum. There are fees associated with derivatives. For example, options cost $0.65 per contract.

E-Trade has stocks, bonds, ETFs, mutual funds, options, futures, and options on futures.

Features and services

E-Trade offers a browser-based platform and the E-Trade app for iOS and Android. Data and charting tools are available at no extra cost.

E-Trade offers 24/7 support by phone and web chat. Also, there are 30 brick-and-mortar locations around the country if you need face-to-face help.

Pros: Why is eTrade a good stock app?

E-Trade is one of the best stock trading app options for active traders who understand the markets and the analytical tools. E-Trade also has an excellent knowledge base where you can learn how to use all the features they offer. With $0 commissions, it is now competitive with budget trading apps like Webull and Robinhood.

Cons: What are the drawbacks to eTrade?

E-Trade might be overkill for novice investors. The site and app have extra features that might confuse people who want to create a portfolio or engage in basic stock or options trading.

13. TD Ameritrade

TD Ameritrade is a full-service online stock broker that pre-dates the internet. It offers a full range of financial products, including forex and futures. Traders can open margin accounts and access cash management services.

Like E-Trade, TD Ameritrade offers a full range of analytics and investment research tools, including advanced charts and data feeds. It also has a solid education base, offering some novice-friendly traits.

Origins

TD Ameritrade started in the 1970s and launched as an online brokerage in the 1990s. It has long been a top choice for professional investors. Charles Schwab acquired TD Ameritrade in 2020 but did not change its name or setup.

Costs and assets

TD Ameritrade offers $0 fees on most trades. Options cost $0.65 per contract. However, there is no account minimum.

TD Ameritrade offers a full range of assets, including stocks, ETFs, mutual funds, forex pairs, options, futures, and bonds. Qualified investors can also access IPOs.

Features and services

TD Ameritrade offers 24-hour support by phone and chat. You also get access to a trading simulator and a wide range of educational features, including web-based tutorials.

In addition to brokerage accounts, you can establish an IRA, ROTH, or SEP account, a trust, and educational savings accounts.

Pros: Why is TD Ameritrade a good stock app?

TD Ameritrade is one of the best online brokerage options for people who want access to the most possible assets and the maximum number of technical and fundamental analysis tools.

Cons: What are the drawbacks to TD Ameritrade?

TD Ameritrade does charge penalties for closing a mutual fund for the pre-specified amount of time. It also has a transfer-out fee.

Even though it has a knowledge base and beginner-friendly pricing, TD Ameritrade can be overkill for people who want simple services for trading stocks and ETFs.

See Related: Best TD Ameritrade Alternatives

14. Ally Invest

Ally Invest, part of Ally Financial, offers a full-service brokerage account. It offers $0 commissions on stocks and ETFs and low fees on options, mutual funds, and other assets.

Using Ally savings or checking accounts is an advantage for people who want to manage their finances and investments in one place. Ally does offer a wide range of charting tools, but its data feeds and tools lag behind other full-service brokerages like E-Trade and TD Ameritrade.

Origins

Ally Financial has been in business for more than a century. It began by offering car loans for GM, turning into an online bank in the early 2000s, and beginning to offer brokerage services after acquiring TradeKing in 2016.

Costs and assets

Ally Invest has $0 commissions on stocks and ETFs. Options cost $0.50 per contract, and mutual funds are $9.95 per fund. There is no account minimum, but Robo-accounts require a $50 deposit.

In addition to stocks, ETFs, and mutual funds, Ally has currencies, options, and bonds.

Features and services

Ally Invest offers 24/7 phone and chat support, and there are some brick-and-mortar locations where you can get face-to-face service.

Ally offers regular brokerage and retirement accounts. You also get asset screening tools and a basic charting platform.

Finally, in addition to tutorials, Ally Invest has live webinars for new investors.

Pros: Why is Ally Invest a good stock app?

Ally Invest has an intuitive platform with helpful research tools and a wide range of assets. You can transfer funds to and from your account via your Ally bank account and take advantage of the educational features.

Cons: What are the drawbacks to Ally Invest?

Ally Invest does not offer some of the advanced data, and charting features experienced investors may need. For example, there are no trailing stops on the platform. Also, cryptocurrencies and futures are not available.

See Related: Best ESG Target Date Funds

15. Stash

Stash is a bit different from other self-directed investing app choices. It is an incremental investing stock app. You can save small amounts of cash and automatically add them to your chosen investments. A 100% automated Robo-advisor option also selects and manages assets for you.

Stash is ideal for novice investors, but it comes with higher fees than most of its competitors.

Origins

Stash debuted in 2015. It enjoyed early success, gaining more than 5 million users by 2020. It currently manages $2 billion in assets.

Costs and assets

Stash requires a $5 deposit for managed accounts. There are no trade fees, but you have to cover monthly management costs, which cost between $3 and $9 monthly. Assets are limited to stocks and ETFs.

Features and services

Customer support via phone and email is available on weekdays. Email support is available on weekends. Stash offers automated investing, though higher membership levels (those costing $3 to $9) also allow manual choices.

Quarterly rebalancing is available if you lose more than 5% of your value. You also get access to algorithm-based tools that assess risk, diversification, and other factors.

Pros: Why is Stash a good stock app?

Stash is a good option for people who are just starting and want to build wealth. It does have fees, but they are very clear. Other managed accounts charge a percentage of the value of your portfolio, which can get confusing.

Cons: What are the drawbacks to Stash?

Stash has very specific services. If you do not add money to your account regularly, you may not earn enough to cover the monthly costs associated with your account.

Human advisor options are limited at Stash, so you do not get many insights despite the monthly fees.

How Can You Choose the Best Stock Trading Apps for Your Needs?

There are several factors to consider when choosing the best stock app. Variables can include:

Costs and account fees.
Access to specific markets.
Services and features.
Level of assistance.
User interface.

User reviews, of course, are subjective. However, you should pay attention if you see negative comments, repeated mentions of the same issues in different reviews, or complaints about specific features you deem necessary. Never form your opinion based on a single positive or negative user review.

Here is a closer look at the factors to consider when assessing the best stock trading apps for personal use.

Fees

Low fees are essential, especially for novice investors. The costs associated with executing trades can take a bite out of profits and add to losses. If you are trading with a limited amount of capital, high fees can take a significant portion of your gains, leaving you with modest profits that will not increase your account size.

Luckily, the most popular investing app options have limited fees. Some may not charge anything for basic stock trades.

Is there a reason to choose an investment app with higher fees? The only reason to do so is if the platform gives you access to markets or features that can increase your ability to make successful trades. Otherwise, low-cost options are almost always better.

Market Access

Different trading platforms offer access to specific markets. If you want to trade globally, you must seek an investment app with listings for European, Asian, Australian, and American markets.

You can also consider asset type. Some basic apps only offer stocks and ETFs. This menu is acceptable if you are only trading these securities.

However, these entry-level platforms will not do the trick if you want access to currency markets or have plans to employ options trading strategies. Before opening a stock market account, you must know which assets and markets you want to trade.

Also, you want to be aware of any limitations you may encounter. Sometimes, a trading app has an account minimum for trading specific types of derivatives.

For example, you may be able to purchase stocks and bonds without a minimum balance in your account, but delving into futures or other derivatives could require a $10,000 deposit. Therefore, you always want to be sure there are no unattainable requirements to access the markets you wish to.

Advice, Assistance, and Support

All stock investing apps should have clear contact information. They should list numbers and addresses.

The best will offer multiple ways to reach out, including phone, email, web form, and chat applications. You should avoid any app that does not have various customer support contact options.

Additional assistance may be valuable for new investors or those trying to adopt new strategies for trading or growing wealth.

There are four ways you can get advice and assistance on these apps.

Robo-advisors. These automated advisors, powered by algorithms, offer insights into investment strategies and asset choices. This service is often included when you open an account or is available for a small fee. The algorithms are usually reasonably accurate for basic insights, but they may not be able to handle complex plans. For most beginner investors or intermediate investors, the insights provide useful guidance.
Human advisors. If you have more elaborate plans or are an absolute novice, finding an investment app that offers human investment advice is worthwhile. Some Robo-advisor apps also have the option to meet with a personal investment advisor for an additional cost. Even if you do not need this service immediately, finding an app that offers it as an option could be good.
Forums. You can also consider platforms that have user forums. If these message boards are active and moderated, you should be able to find helpful advice from your peers on everything from strategies to how to use app features. If you want your investment efforts to have a social aspect, apps with these features can be a good option.
Knowledge bases. Finally, some apps maintain an extensive collection of articles, blog posts, and other education-related content. If you thrive on independent study and learning independently, apps with this feature could be your best option. You should look through the article collection when assessing the platform. The content should not be fluffy. Instead, it should offer in-depth insights and actionable advice.

Accessibility

The first step in choosing a stock app is to ensure it works on your preferred device. Most major mobile apps have versions for both iOS and Android.

You may also want the flexibility to switch to a laptop or desktop platform, trade from a tablet, or access a cloud-based system from any computer browser. Unless you have specific preferences, the best option is usually to select from online brokers offering as many different access points as possible.

A laptop may serve you better for chart-based analysis and assessing technical indicators before entering a trade. If you leave your desk, you can switch to a mobile device to monitor your position.

A mobile app can also be handy for notifications to alert you to market conditions, order executions, and possible trade opportunities.

User Interface (UI)

The final consideration is whether or not the app has a good UI. If you take the app for a test run, it should be intuitive and easy to navigate. You should understand that there could be a slight learning curve for placing trades and making deposits or withdrawals, but it should never be excessively confusing.

One thing to look for is a central dashboard to monitor market conditions and news, see data about all open trades, and create a watchlist of assets you want to trade. Your assessment of the UI will be subjective, so you need to make sure it feels right for you and puts the info you need at your fingertips.

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