7 Best Apps for Stock Trading in 2024

What Is a Stock Trading App?

Before jumping into the list of the best apps for stock trading, let's first discuss what a stock trading app is. In simple words, a stock trading app is an online platform that allows you to trade stocks. Moreover, stock trading is the practice of buying and selling stocks to capitalize on the price fluctuations in the short term. It means that stock traders try to earn profit in the next hour, week, or month by frequently buying and selling instead of holding the stock for years. Essentially there are two main types of stock trading which are as follows:

• ● Active Trading: In this type of stock trading, an investor places at least ten trades in a single month.

• ● Day Trading: In day trading, an investor places at least four trades in the span of five business days, and it must also be more than six percent of the investor's total activity.

How can trade fees be reduced?

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  1. Register at tradersunion.com website.

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  2. Open an account with a broker from Traders Union ratings list.

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  3. Add the number of your account to your Personal Area at Traders Union website.

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  4. Get the cashback of commission for each trade.

Here are our seven best apps for stock trading that you can choose. Keep in mind that it’s important to read all the apps along with their features and fee structure so that you can make the right decision to meet your both short-term and long-term investing goals.

1

eToro: Best Application for Beginners

eToro Review

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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

eToro is also one of the safest and most efficient applications for stock trading. It also offers a seamless and fast account opening experience. It's one of the pioneer apps, and it has been working and expanding successfully since 2007. The cost of using this application is also very low, and the minimum transaction limit is 125 dollars.

2

DEGIRO - Best For Low Brokerage Fees For Trading Stock Market Assets

DEGIRO Review

DEGIRO is a low-cost brokerage platform that offers a wide range of investment options, making it suitable for various types of investors. The platform is regulated by the Dutch Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). DEGIRO charges competitive commission rates, making it an attractive choice for cost-conscious investors.

The platform provides access to over 50 international stock exchanges, allowing investors to diversify their portfolios. DEGIRO's user-friendly platform is intuitive and easy to navigate. However, it is important to note that DEGIRO does not offer major assets like Forex and CFDs, which may limit the investment options for some traders.

Additionally, DEGIRO's prices are delayed by 15 minutes, which may be a drawback for investors who require real-time market data. Overall, DEGIRO is a reputable and trustworthy broker for European investors.

3

Interactive Brokers: Best overall

IBKR Review

When it comes to your overall stock trading experience, Interactive Brokers takes the lead. The mobile app that the company offers allows you to open new positions and assess the stock market on the fly. It comes with a wide range of indicators, responsive and informative charts, and impressive research tools. Interactive Brokers is undoubtedly a step ahead as compared to all the other mobile apps for stock trading.

4

TradeStation: Best App for Active Traders

TradeStation Review

TradeStation is one of the leading applications in the stock trading industry. One of the best things about this application is its safety and security features. It also comes with low fee levels and offers real-time stock market updates, which makes it the best app for technically-minded and active traders.

5

Tastyworks: Best suited for option traders

Tastyworks Review

Tastyworks is the best for people who are looking for an application that offers the best options trading experience. It performs all the promised functionalities in the most efficient and effective manner. You must be wondering why it’s on this list if it’s best for options trading. That’s because you can find many options which are based on the movements of stock prices.

6

AvaTrade: Best Application for Charting

AvaTrade Review

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Your capital is at risk.
71% of retail investor accounts lose money when trading CFDs with this provider.

AvaTrade was launched back in 2006 when it was known as AvaFX at that time. The account minimum to start investing in this application is 100 US dollars, and the educational and informative material that this platform offers allows the users to get up to speed very quickly. Other than the application, the company also offers a dedicated website for research and educational purposes that contains tons of videos, courses, articles, and market analysis.

7

TD Ameritrade: Best All-rounder

Review

TD Ameritrade offers two different applications to its users, which are Thinkorswim Mobile and TD Ameritrade Mobile. Both of them are great for stock trading. If you want basic trading experience, then we recommend you go with TD Ameritrade Mobile App.

Compare the Best Day Trading Platforms

Other Useful Apps for Stock Trading

Other than the apps that we have mentioned above in detail, there are also some other brokerages that you can use. Here are some of our honorable mentions, along with the reason as to why you should choose them

TradingView: Best for Researching

If you’re looking for the best stock trading app for research and education purposes, then there is no better option than TradingView. It offers tons of features that you can easily access from your profile's main page, even on your basic account.

Commission and Fees:

• Commission: 0.00 dollars per trade

• Account minimum: 0.00 dollars

RobinHood: Best Low Cost

RobinHood is a low-cost trading application that is also known as a zero-fee discount broker. It offers fully digital and easy account opening and offers multiple account types. If you want to start trading with the least possible amount, then this app is your best choice.

Commission and Fees:

• Commission: 0.00 dollars per trade

• Account minimum: 0.00 dollars

Wealthfront: Best Automated Functionality

If you’re looking for a stock trading app that offers the best automation, then you should go for Wealthfront. It’s a complete package that offers seamless investing, banking, planning, and goal-setting experience, all within a single user-friendly and elegant mobile app.

Commission and Fees:

• Commission: 0.00 dollars per trade

• Account minimum: 500 dollars

Ally: Best for Banking Products

If you’re interested in banking products, then Ally could be a great option as it offers an investing/bank combo. Although it’s not the best when it comes to diverse and advanced features, it covers almost all of your investing needs.

Commission and Fees:

• Commission: 0.00 dollars per trade

• Account minimum: 0.00 dollars

How to Choose Apps for Trading Stocks

There are many important factors that you need to consider before choosing the best application for stocks. Here we have listed the most important ones that will help you to make your selection procedure easy.

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  Step 1.

  Figure out your goals and requirements.

  The first and probably the most important thing is to list down your personal needs. For example, if you’re beginner trading stocks then you’ll need an app for a stock market that offers educational and research material.

• Step 2.

  Narrow down the list.

  Once you have a list that contains all your investing needs, the next step is to find some of the most reputable applications that match your list.

  
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  Step 3.

  Compare the candidate applications.

  Now, you need to compare all the features and tools that each candidate application offers. You also need to compare their pricing and fee structure to make sure that you finalize the best app for buying stocks.

• Step 4.

  Test the finalized application(s).

  Keep in mind that it’s better to have two or three final candidate applications that you want to test. Most of the applications offer a free demo account that you can use to test all the offered functionalities. This way, you'll figure out the best app for trading that perfectly fulfills everything you need.

  

These are some of the most important considerations that you need to keep in mind before choosing the best application for stocks.

Pro Tip:

it’s also vital to test the customer service of the brokerage application you’re interested in. Never choose an application that doesn’t offer a great customer care experience because you don’t want your queries lingering on for a long time once you’re in the middle of your stock trading.

Tips for Successful Stock Trading with Apps in 2024

With the advent of mobile technology, stock trading has never been more accessible. It's essential, however, to approach it with the right strategy and tools to ensure success. Here are a few tips for successful stock trading with apps in 2023:

Implement a Sound Trading Strategy

Just like traditional trading, successful stock trading using apps relies heavily on implementing a well-planned and tested strategy. Trading without a clear strategy is akin to gambling; you might win a few trades, but you're likely to lose money in the long run. Use the app to test your strategies, take advantage of its features like back-testing and use its data to refine your approach.

Practice Risk Management

Even the best trading strategy cannot predict market fluctuations with 100% accuracy. Therefore, it's crucial to practice risk management. Decide on a risk-reward ratio that you're comfortable with and stick to it. Many trading apps allow you to set stop-loss and take-profit levels, which can automate this process.

Stay Informed and Up-to-date With Market Trends

The financial market is affected by numerous factors, including geopolitical events, economic indicators, and corporate news. Hence, staying informed about these developments can give you an edge in predicting market trends. Most trading apps have built-in news and alert features (free alerts or paid) that you can customize to receive updates about the assets you're interested in

Learn From Successful Traders and Experts

Take advantage of the social trading features offered by many apps. These allow you to follow and learn from successful traders and experts in the field. Some apps even let you copy the trades of experienced traders automatically. Just remember to use this feature responsibly and always do your own research.

Take Advantage of Educational Resources

Most trading apps come with a variety of educational resources, including tutorials, webinars, and articles about trading strategies and market analysis. Make sure to take full advantage of these resources to continually improve your trading skills.

Consider stock trading costs

Traders should consider stock trading costs because they directly impact their profitability, as high fees can erode potential gains. Free stock trading apps can help by eliminating commission fees, enabling traders to execute trades without incurring significant expenses, thus maximizing their returns.

Stock Trading Apps Review from Expert

Matt Frankel, who is a certified financial planner, suggests that Interactive Brokers stands out in offering stock trading services. Not only does it offer the lowest possible margin rates and commissions, but it's also a robust and solid stock trading application. You can get your hands on it regardless of the level of your expertise. He also suggests that if the best option for you is:

● You want to keep a large balance.

● You want to keep your expenses low

● You want to use margin

● If you don’t want to hold the stocks for a long time

Matt Frankel,

CFP: Interactive Brokers