The Best Stock Trading Apps for Beginners Right Now
Get into stock trading the safest and easiest way with these apps for beginners.
The best stock apps allow you to buy and sell stocks and EFTs in the easiest and safest way possible with the least trading fee for the best services.
As more people get into stock trading, its popularity sets a high bar for stock trading app developers, particularly in terms of accessibility and having an easy-to-use system for beginners.
Here are 3 qualities of the best stock apps for beginners:
- simple and safe to use
Stock trading shouldn’t be difficult. With more competitors popping up, major stock trading apps like Robinhood and Questrade should strive to be easily used by people who are new to stock trading.
Not to mention safe.
The Securities and Exchange Commission (SEC) has charged Robinhood with failing to properly disclose how it makes money and not always providing its customers the best execution pricing for their stock trades in 2020.
Money is equal to your effort and time. Choosing the best stock app for you should absolutely mean it’s safe.
- Takes a reasonable commission when stock trading
Commissions, or trading fees, are often charged by brokers and stock advisors for using their services.
There are a handful of stock trading apps out there that charge an unreasonable amount of commission for basic services — the same that you can get cheaper with lesser-known stock trading apps.
It is important to confirm how much your chosen brokerage or advisor charges for their services and the commission rate they take before you start putting in your money.
Commission rates differ from firm to firm.
- Offers educational support for beginners
Beginners in stock trading benefit from apps with the lowest fees and a large number of educational help within the app — like charts, graphs, and how-to guides.
However, it doesn’t mean to say that an overly complicated layout is necessary. Straight-to-the-point and easy-to-understand information when it comes to stock trading are always the best for beginners.
Good stock trading apps don’t scare new traders with unrecognizable terms and overwhelming graphs. Beginners tend to become lost in all of these distractions if they are unable to make sense of the information provided.
Going back to stock trading 101
A stock market is simply a place where shareholders of a company can exchange their shares with the public at a set amount of price per unit.
For a better example of stock trading, let’s say Company A is looking to expand after doing well for a few years, and it needs money for it.
Company A could either get money from the bank, which may charge high-interest rates or from the public by trading a portion of its shares or stocks in exchange for it.
To trade stocks with the general public, the company files an IPO (Initial Public Offering) on the stock market, where anyone interested can buy a share of the company.
Best stock trading apps for beginners
Interactive Brokers
Interactive Brokers, or IBKR, is one of the world’s leading online trading platforms for traders, investors, and advisors, offering direct global access to stocks, options, futures, currencies, bonds, and funds.
As a trading company that has been operating for 44 years, Interactive Brokers — by the number of daily average revenue trades — operates the largest electronic trading platform in the United States.
Interactive Brokers app
With the IBKR mobile app, you can access over 150 markets worldwide. Trading stocks has never been this easy.
Once you get the hang of it, the core functionality of the stock trading app is simple to use. Features are easily understood by beginners, and it is apparent that Interactive Brokers made sure of it.
Another feature that makes Interactive Broker one of the best stock trading apps is it’s highly optimized. It looks professional while the layout concept is easily learned and used.
The download size is manageable and their website provides a great deal of information about the stock trading app.
Create your Interactive Brokers login credentials here.
Educational resources by Interactive Brokers for beginners
Student Trading Lab is one of the educational resources Interactive Brokers offer. It’s more for professors and educators that want to integrate realistic stock trading experiences in classrooms.
There are 3 additional resources by Interactive Brokers that can help stock traders:
This educational resource by Interactive Brokers offers free online courses on financial trading concepts and tools.
Traders’ Academy also has quizzes and notes to help you with remembering the course you chose to learn.
A financial commentary blog — Trader’s Insight gives stock traders a commentary blog about all things affecting the stock market.
Think of the IBKR Quant Blog as Reddit but niched for professionals who have an interest in programming.
Sample code for popular programming languages like R and Python is frequently included in discussions to assist you in developing your analysis.
Is Interactive Brokers safe?
This stock trading company is considered safe because it is licensed by a top-tier regulator and has a long track record of providing quality services for stock traders.
Interactive Brokers is a good option for both beginners and experienced traders. Their fees are low, and they provide an excellent trading environment.
If you’re looking for Interactive Brokers’ helpline or customer service, these numbers might help you.
Charles Schwab
Through its operating subsidiaries, Charles Schwab offers a full range of brokerage, banking, and financial advisory services for 51 years since its foundation in California, US.
According to Investopedia, Charles Schwab serves its clients as a full-service broker with over $6.6 trillion in client assets on its platform.
Charles Schwab app
Stock traders can also access their accounts via a variety of methods provided by the broker.
These include a web-based interface and a desktop application. Not to mention, one of the best stock trading apps on mobile. They come with more options for customization and sophisticated trading, charting, and analysis tools.
It’s easy to set up a spread or four-leg option strategy on Schwab’s trading app. This is all thanks to an easy dropdown menu for options orders, but there is no profit graphing or similar analytics to what is available on the workstation.
Educational resources offered by Charles Schwab
Having easy and straight-to-the-point digital platforms aren’t the only pros of Charles Schwab. The broker also ranks “Best in Class” for Education according to StockBrokers.com.
Schwab also offers Schwab Live Daily as one of its educational resources. It’s an interactive session with financial experts and viewers on their website where viewers can ask questions regarding anything financial.
Is Charles Schwab safe?
Stock traders are looking to gain money, not lose it. Keep your money where it’s safe. Charles Schwab guarantees to cover losses due to any unauthorized activity.
Safe trading companies like Charles Schwab are under the Securities Exchange Act of 1934 (Exchange Act) — the principal law that regulates broker-dealers in the United States.
You can reach Charles Schwab’s customer service hotline any day and time of the year.
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Fidelity
Fidelity was founded in 1946 and soon became one of the best multinational financial services corporations in the United States.
Some of the benefits of using Fidelity include fractional share buying, better options, dividend reinvestment, extended hours of trading, an extensive stock catalog, no fees, and instant funds when depositing.
Fidelity app
Convenient stock trading is also an option with Fidelity Mobile — its on-the-go mobile app that is perfect for beginners.
Fidelity Mobile offers easy trading of stocks and ETFs while managing your portfolio and watchlist with just your phone.
Its digital platforms include user-friendly interfaces, fast updates, clear fee statements, and an easy-to-understand trading system making it to the list of best stock trading apps out there.
Educational resources offered by Fidelity
Fidelity Learning Center is available on Fidelity’s website. They post online articles that can be useful for stock trading, or anyone new to investment, beginners.
Like Charles Schwab, Fidelity also hosts educational webinars to help with financial and investment questions.
Virtual classes are also available for beginners in stock trading. These online classes span for 4 weeks to maximize learning what’s good for your money.
Is Fidelity safe?
Fidelity has a long track record of keeping its clients happy and is considered safe.
Your money is secure with the broker and they offer a refund for any unauthorized transfers from your account.
To get in touch with their customer service, visit Fidelity’s website.
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Go into stock trading wisely
When money is involved, everybody seems to be serious. But that shouldn’t be a bad thing though — money is serious.
With every investment, there is a risk involved. You don’t have to be alone in figuring out where to put your hard-earned money, there are good brokers with educational resources to help you with your financial journey.
With the above list of the best stock trading apps for beginners, be confident that your money is safe to grow.
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