Understanding the Best Stock Trading Apps for Beginners

In this day and age, pretty much everyone is looking for investment opportunities. Having a second source of income is practically a necessity for most, which is why the rising popularity of stock trading among the general public comes as no surprise.

Thanks to our step into the digital age, it’s much easier these days for people to trade stocks without putting in too much effort. Of course, the biggest help to this is the plethora of great trading apps that are now available on the market. If you’re one of the many people interested in stock trading but aren’t sure where to start, you can check out these great trading apps suited for beginners.

Public

One of the biggest challenges that newbie stock traders face is the lack of support. Starting a new venture is always risky, so finding like-minded people that are on the same journey can be a massive help in keeping up morale. Thankfully, it seems that Public has come up with the perfect solution to this problem by combining the flexibility of trading apps with the networking aspect of social media. With social media seemingly a fixture in most of our lives these days, it’s only fitting that a platform like this has found a place in the field of stock trading.

While Public isn’t a social media platform in the classic sense, it does incorporate excellent elements from major social networks to an already top-notch investment stock market app that looks at a S&P 500 earnings calendar.

The benefits of using Public are pretty obvious. Users can have an easier time choosing investment options thanks to some guidance and tested strategy. Other than this, Public keeps things pretty bare bones. The company doesn’t offer too many different investment options, but classics like stocks and ETFs are thankfully part of the deal.

eToro

Public might be pretty well-known for being an excellent social trading platform, but that doesn’t mean it’s the only one. eToro is another insanely popular stock market app that’s among the best, if not the best stock trading app UK for beginners! Similarly to Public, eToro incorporates elements of popular social media onto its platform to help users out. Newbies can check out the trading activity of other users on the platform and copy their strategy. To make things even better, by using the CopyTrader feature, they can replicate their every move in real-time.

Through manual trading on eToro, users can invest in a variety of options, including stocks, EFTs, commodities, cryptocurrencies, and more. The good thing about manual trading on eToro is that it’s not too hard to figure out. The platform’s setup is well-designed, so users should have no trouble navigating it. Other than manual trading, users can also take advantage of the CopyPortforlios instrument, similar to the CopyTrader feature. As you might have guessed, these are finished investment portfolios coming from the platform’s top traders!

Ally Invest

When we’re at the very start of our investing journey, the best thing we can do is go for something without too many bells and whistles. Instead of distracting ourselves with flashy features, a simple yet effective approach is often the best choice. Ally Invest offers just that. The mobile app has a clean design, which makes it easy to navigate even if you’re not tech-savvy and sports a dashboard that gives users more than enough information but isn’t cluttered.

What users like about Ally Invest the most is the options. Users can trade stocks with no commission, which also includes EFTs. On top of this, they can benefit from the lack of charges in other areas of the app. Unlike many trading apps these days, Ally Invest doesn’t have too many requirements to keep your account open. Users don’t need to worry about keeping up a minimum account balance to stay active and will be glad to hear the app lacks recurring fees.

Robinhood

Following some of the core principles of the popular character it was named after, Robinhood is a trading app that was among the first to offer users a no-commissions investing. As expected, investing in stocks and EFTs is available on the app, which is free with a standard account. Of course, just because there aren’t any fees doesn’t mean trading on Robinhood isn’t risky. Whether you’re a newbie or an expert, you should always do your due-diligence and catch up with the current investing trends. The market is ever-changing, so keeping up to date can make a huge impact.