Best Stock Trading App for Beginners

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Looking for the best stock trading app for beginners in 2018? Here are our top picks based off aggregated user reviews from the Apple App Store and Google Play Store.

Best Stock Trading App for Beginners

Stock Broker

App Store Rating

Stock Trade Fee

TD Ameritrade

5/5

$6.95

Ally Invest

5/5

$3.95

TradeStation

4.5/5

$5.00

tastyworks

4/5

$5.00

Firstrade

3/5

$2.95

Is a Mobile Trading App Connected to an Online Broker?

Simply put, yes. In 2018, every online broker has their own mobile trading app. Although there are a few standalone broker-neutral mobile trading apps made by trading technology companies, they muust be paid for and connected to via an API, which is difficult and expensive.

A lot of traders associate a given mobile trading app with a broker, like Robinhood, for example. In this case, Robinhood is the name for both a licensed online stock broker as well as a mobile application. We have written a comprehensive review of why Robinhood is dangerous and should not be used.

In order to use a mobile trading application, you need to open up a brokerage account with the broker that makes the app. It’s possible to download the application from the App Store or Google Play Store, but you won’t be able to log in.

For 2018, we have found that Ally Invest offers the best combination of mobile trading technology and pricing. At $3.95 per trade with 24/7 customer service and a mobile app that offers trading, research, and full online banking, it’s really hard to go wrong.

What Makes a Good Stock Trading App?

Above all else, a good stock trading app for beginners has to work, and it has to work every-time. It needs to be reliable. If the market starts panicking, and you need to close out your positions, there’s nothing more frustrating than an app that crashes or doesn’t load.

This is why we are hesitant to give the thinkorswim mobile trading app by TD Ameritrade a perfect 5 star rating. In the App Store, it gets flawless ratings. However, we have noticed significant issues with thinkorswim during peak market hours. When the market opens at 9:30 AM EST, sometimes we can’t login due to server issues.

This is probably because literally millions of people use the mobile trading app all at once, and TD Ameritrade’s servers get overwhelmed. Nevertheless, it is still a solid app for trading.

Do I need to Use a Mobile Trading App?

Over the past 5 years, TD Ameritrade reported mobile trading is up 344%.

Although you don’t have to place trades via a mobile application, technology has come a long way in recent years. Mobile trading is easier than it ever has been. If you’re constantly on the go, working a 9-to-5 job, or traveling, checking your investments, making new ones, and managing your portfolio is essential.

Having access to a reliable mobile trading app is, in our opinion, totally necessary to successfully invest in 2018.

Cool Trading Resources for New Traders

Often times, getting started with trading and investing is the hardest part. These are a few helpful resources to help you learn the ropes.

12 options trading strategies for beginners

Getting started with options trading

What are futures?

Does the stock market suck?

Is it Safe to Use a Mobile Trading App?

For the most part, yes, they’re just as safe as trading on a computer. Of course, as with any brokerage account, there is the possibility of loss dude to changes in market conditions.

If an investment doesn’t work out, you could lose your money. But everyone knows this. Is it possible for anyone to steal your money? Not really.

All of the brokers listed on this page offer FDIC and/or SIPC insurance up to $250,000. If your brokerage fails, or if there is a massive cyber attack and your account value is wiped out (which has never happened in history) the US government will reimburse your losses.

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