Learn About Online Trading Apps for Beginners
The prevalence of the internet is making online trading one of the more convenient ways to invest. Stocks are now being bought and sold from home.
Usually, if you wanted to buy or sell a stock, you would have to call the stockbroker who would overcharge you for stock trading on your behalf. Luckily, investment companies have now transferred their services online.
Although the process of investing is now easier, picking what to invest in is still challenging. Investing can be intimidating to a beginner.
High commission fees also deter younger investors from buying and trading. Additionally, not all investment websites provide enough helpful information on how to invest.
Investing apps like the Robinhood trading app have sleek interfaces and user-friendly graphs as well as helpful information on investing. There are also some apps that cater more to investment starters. It is important to know which investment apps will provide the best investing experience while guiding you along the way. Continue reading to find out which apps are made for investing beginners.
About the Robinhood Trading App
This online trading app began as a mobile app before becoming a website, making it one of the first apps with mobile trading roots.
Robinhood is known for its free stock trades, with wide accessibility and low risk for those who are starting to learn about stock trading online.
The app allows you to track stocks you own and the stocks on your watchlist.
When you start to trade with Robinhood, you just enter your trade, add it to your list then you own it without having to pay.
You can acquire the stock without paying any commissions or trade fees. Although the app is free, the Robinhood trading app does offer premium services.
If you upgrade to Robinhood Gold, you gain access to margin trading, which is when you borrow money from a broker in order to purchase a stock.
You also receive extended hours of trading with the premium upgrade.
Aside from stocks, the app also allows users to trade exchange-traded funds (ETFs), options and cryptocurrencies.
This is one of the investment apps that does not use congested graphs to show the portfolio of the user.
Their interface and graphs are sleek and minimalist, displaying your portfolio information and news on the trading world.
Learn About Stash
This is one of the best stock trading platforms for beginners because it encourages learning and provides lower priced stocks for learners.
You can begin trading with a minimum of $5 and you learn as you go. The app will help you pick investments while you are trading.
Additionally, Stash provides articles that gives tips on how to you can invest better each time you access your account.
You are not charged any trade fees or commission when you buy a stock. You can buy stocks, as well as bonds and ETFs.
Although this app does not have free stock trading, there are perks to paying for it. When you start using the app, you will be prompted to complete some questions.
These questions are meant to create your investor profile and so the app can decipher what investments can be recommended to you.
Another feature from Stash that makes it beginner-friendly is how the stocks are organized. Single stocks and ETFs are organized into curated themes, such as innovation or environment.
This helps investors easily identify what they would like to invest in. With its educational articles and built-in investment coach, Stash is one of the best stock trading apps for beginners.
Stash also has Auto-Stash, a feature that allows users to automatically save and invest. Stash also makes investing fun by gamifying your investing experience.
You collect trophies and rack up points while your trade your stocks.
Learn About Betterment
Betterment is an online financial adviser and money management website and is known as one of the investment apps with an educational slant.
The main benefit of this app is that it will match its user’s knowledge of investing and start teaching them from there.
Betterment will use a team of human and robot advisers to help their clients with their investment goals.
When you start using this app, you will be prompted to answer a series of questions for the software to get an understanding of your investing style.
Betterment uses a passive investing approach since it will create a personalized investment portfolio based on your answers from the questions.
The online trading platform will allow for users to adjust their portfolio to their liking and can even help them decide how much they should invest.
If you do not like the idea of managing your finances on various platforms, Betterment can also help you with that.
This investment app allows you to sync your bank accounts and any other investments you have and keeps it all in one place.
The app does not charge trading or transfer fees but does have an annual fee of 0.25 percent of what your investments make. Being able to trade stocks for a profit is like having a job from home.
Acorns will save the leftover change from everyday purchases and provides articles and videos with investment advice. Users can only trade ETFs on Acorn and will rebalance the money when the market changes.
This is one of the best stock trading platforms because it allows its users from any level in their investing to have a diverse portfolio.
Like Betterment, this app has robot financial advisers that will guide its users along.
Furthermore, Acorns has no minimum fees, commissions or trade fees and only charges between $1 and $3 a month for investing.
College students interested in investing with the app can use the $1 service for free.
This online trading app has a feature where it will provide a personalized portfolio for you.
The app will prompt you to answer their questions, then they will generate the portfolio which you can adjust later.
Each portfolio is structured by well-known investment management companies, letting the expert eyes
Another notable feature is their debit card. There are many perks to having their card if you are using the app, such as earning an additional 10 percent from local stores when swiping the card.
This is also convenient if you want to keep all your investment spending in one place.