The decision to invest in the stock market tends to be a puzzle for most people. It can be a good cushion for when you retire or a way of earning extra income. Thanks to technology and stock market trading apps, it is now easier to start investing online.
Diving into stock trading can be a big step if you are a beginner. However, technology makes it easy to keep up with certain stocks and the market. Besides financial sites, you can easily learn to monitor and trade stocks on your mobile devices using the right stock trading apps.
Check out the 8 best apps to learn stock trading below. These are available for both Android and iOS platforms.
1. Stash
This stock trading app allows you to trade with as little investment as $5. The app allows you to create an investment plan that meets your personal objectives or the entities you wish to invest in.
The app even provides you extremely useful resources you can use to learn what it takes to invest in stocks. So, as a beginner, the more knowledge you acquire the better. It is the only way you can make investments in the stocks you are interested in.
The app lets you choose how much you wish to invest in fractional shares and thousands of stocks as well as ETFs. For beginners, the Stash package costs $1/month and includes investing, saving tools, banking, and much more.
2. Acorns
This stock trading app allows you to connect your credit or debit card making it easy to automatically execute trades using your change. The funds are transferred to your Acorns index funds.
A good example is when you purchase a cup of coffee at $4.64. The app will then round up the number and transfer 36 cents into your investment portfolio. After a while, your investment portfolio will increase significantly.
The monthly fee starts from $1 to $5 if you invest less than $1 million. Besides, the app boasts of providing data encryption and bank-level security. As well, the app provides you financial literacy content which is handy for a beginner.
3. Learn
For a person who wants to learn stock trading, Learn is the perfect app since it offers easy-to-understand lessons. Besides simplifying the jargon associated with stock trading, the app will expose you to real-life situations.
In such situations, you will have to decide whether to invest or not. What’s more, the app provides audio lessons you can listen to on your way to work. The app is designed to introduce beginners to the world of the stock market.
It will give you the confidence you need to begin investing your money. Once, you are through with a lesson, the app lets you mark it as read.
4. Benzinga
With Benzinga, you get an app that gives you real-time updates on stocks, which allows smart investment decisions. The app offers you live updates on the prevailing trends and pricing.
Through its watch lists, it is a lot easier to monitor how your investments are doing. Also, you get a news feed that provides you the latest headlines on your mobile device.
In its menu, you can even access Twitter on the latest stock market discussions. The app provides you fundamental data on the stocks you are interested in. Also, you get to access market-wide and sector data on your device.
5. Stockpile
Stockpile doesn’t charge you thousands of dollars to buy individuals shares in high-flying companies such as Amazon or Apple. Instead, it allows you to purchase fractional shares in these companies.
Provided you continue investing, you will eventually end up purchasing full-shares in these companies in these entities. The app even supports gifting to let others help you in your journey of investment.
The app helps beginners to enter the world of stock trading and invest part of their financial portfolio. Unlike many other brokerages, Stockpile lets you transfer your money to and from your bank without charges.
6. eToro
With this app, you get to learn stock trading from leading traders. The app supports full automation of your trading portfolio. Besides making it convenient to invest, the app provides a way of discussing your strategies with established investors.
If others decide to copy your portfolio, the app gives you an opportunity of earning passive income. The app even provides new users a virtual portfolio to try all the features on the platform without risking anything.
eToro gives you access to important market research and technical analysis. The app even lets you create and customize your watchlists and setting volatility alerts to catch breaking trends. However, the app charges $25 for any withdrawal above $50.
7. EFTmatic
The UK-based stock trading app supports portfolios in 32 nations in Europe. It provides the latest technology in the industry. The app gives you advice on how you can diversify your investment while minimizing long-term risk.
Thanks to its robo-advisor, the app offers automated, precise advice 24/7. The app charges 0.48% of your assets under management. It offers users diversified EFT portfolios crafted to meet the needs of the individual.
What’s more, the app got rid of unnecessary intermediaries to ensure investors have access to the service at a fraction.
8. Robinhood
Most people hesitate to invest in stocks because of the associated large management and transaction fees. With the Robinhood app, you get a stock trading platform that does not charge commission.
What’s more, the platform never supports the trading of mutual funds. However, as a beginner looking for a cheap way to begin trading, you should consider joining the bandwagon.
The app allows you to invest in stocks as well as buy and sell crypto such as Bitcoin. It provides both beginner and seasoned stock market traders more confidence.
With Robinhood, you get to comprehend financial markets to make it possible to invest in stocks without paying any commission. The app provides real-time market data before you can buy any stock.