The best platforms for honing your trading skills
Investing in the stock market can be a great way to learn about finances, have a little fun, and — if you play the long game — make some money in the process. Plus, when compared with other long-term money-making opportunities like real estate or building a business, trading stocks is relatively simple. The process is fast, information is accessible, and it’s easy to trade with the click of a button.
When it comes to gaining stock market experience, there are a range of apps that allow you to try your hand at the stock market without risking too much money.
Here are a few of the top stock trading apps available today.
Robinhood
This trading app features a large library of educational features that range from “What is an investment?” to “How to analyze stocks.” Robinhood’s lively and intuitive interface often appeals to younger users while allowing anyone to participate, thanks to zero-commission investing, and a minimum investment of $1. Robinhood also offers commission-free cryptocurrency trading for additional financial experience.
SoFi Invest
SoFi allows users to be as active or as passive as they want in the stock market. Features include no minimum balance, zero commission on stocks, and access to budget-savvy fractional stocks, which allow you to trade for as little as $1 and own less than a full share of a company. If you prefer a hands-off approach, SoFi’s automated investment services will create and balance your portfolio for you based on your goals.
Merrill Edge
This app offers tiered investment options. For $0, users get free stock trades and personalized investing suggestions. Users who invest $1,000 have access to Merrill experts, who will help curate and re-balance your portfolio for you. Finally, for a $20,000 investment, you’ll have access to a personal advisor. Whatever the investment level, this is a great option for Bank of America customers, as seamless integration allows you to see your stock portfolio alongside all of your other financial information in one place.
E*TRADE
One of the largest and most popular stock-trading apps available, E*TRADE features an intuitive interface plus a wide range of tools and resources to invest in stocks, options and futures. It also offers pre-built and automated portfolios for more passive investors. Educational opportunities include both content that helps newbies grow quickly, as well as more advanced intel to help hone your skills.
Thinkorswim
Run by TD Ameritrade, this desktop, web and mobile trading software has received numerous awards from StockBrokers.com. The program allows you to trade stocks as well as mutual funds, options, bonds, futures, CDs, and foreign currencies, giving you a holistic market education. It offers $0 commission on online, US-listed stocks, plus, the MarketWatch feature allows you to keep an eye on market news for continued learning.
Webull
With the mission to make investing enjoyable, Webull is easy to use, with $0 commissions, no minimum balance, and real-time stock alerts. Users can craft a diversified portfolio of stocks, options, crypto and more. Bonus: open an account and you’ll get a free stock or up to 12 free fractional shares, courtesy of Webull. Also, earn free stocks for referring friends.
Ally Invest
This app is simple, seamless and integrated with Ally Bank, so Ally customers can access all of their financial information in one place. It’s great for basic research and easy trading, but the best part is that the robo-portfolio is available for a $100 minimum investment.
Charles Schwab
Often regarded as the best overall trading app, Charles Schwab features no recurring fees and no account minimums, plus a no-fee automated advisor for investments that are at least $5,000. In addition to accessing a wide range of trade types and having real-time market news at the click of a tab, the Schwab Assistant feature allows users to make trades with voice control, set alerts and find answers to pressing questions.
With the right app, you can learn about the stock market, try your hand at low-risk investments, and hopefully become skilled enough to grow your money, putting your financial future on a good path.
