Jerry Mononela - 5 Best Mobile Apps For Investing In The Stock Market

 

I am Jerry Mononela and sharing with you the five best mobile apps for investing in the stock market. Trading has become a norm among the young population through its extensive digitalization. Whether it be through websites or apps, trading in the national, as well as international stock market, has become infinitely more convenient.

Through the course of letting the stock market be traded upon by small, individuals looking to invest their savings in a few points, trading has taken many shapes to appeal to the consumer. And it appears that with the advent of digitalization, even stock market trading has reached the palms of the small consumer with complete transparency. And this transparency has been brought on by none other than mobile trading applications.

These applications run just like every other application on a smartphone. You either register or log in and after setting up your details in your profile, you are ready to go!

With the click of a button, you can now invest in your any company’s stock within your smartphone sitting right at your home! The future is finally coming.

Though trading through mobile applications sounds simple (and it is), there are many apps out there to trade your life’s savings on. And as scary as it sounds, there are many fake applications on the play store that are unwarranted. To give away not only your money but also your details, you should always look for an app with credentials and a proper back story. This is the most important aspect of a mobile trading app.

In addition to security, there must also be simplicity in the app. A simple UI helps a novice to not be scared away! It is essential in a trading application to implement transparency and improve the user experience that the mobile application was built for.

So in this blog post, I have come up with 5 simple mobile trading apps, trusted, and thus the best option to mobile trade on. If you like my posts, check out more of my content on Reddit as well: Jerry Mononela.

1.Interactive Brokers

Interactive Brokers is one of the most popular mobile trading apps in the market, and that is for a reason. It is a clear cut mobile trading app that requires no minimum balance, 0% share if you have the INKR lite membership, 1% otherwise, and an option to monitor the market as it is. The Interactive Brokers mobile app is essentially a condensed form of the desktop website and is very simplistic for new users. Though it lacks some major features like multi-device functionality and drawing tools, it is a perfect companion for a beginner trader. The research charts, the quick settings, and the ability to make swift decisions are the reason why I think the Interactive Brokers mobile apps beat out its flaws AND its competitors. It has zero minimum requirement for your account and takes away the standard maximum of 0.005$ or 1% for their pro platform, and a minimum charge of 1$ for their free users.

2.TD Ameritrade

Ameritrade is the second app I would recommend for beginners. It has a lot of users and has proven market experience. It has no commission rates, hidden fees, and has better investors on its platform. Ameritrade is the most popular investment in the play store for a reason. It has transparency built-in for its users, something that is vital for any online trading platform. TD Ameritrade has proven to provide great products for its customers and has been termed the #1 brokerage firm by many, many credible sources. So Ameritrade is quite possibly the safest option out of all the other trading apps.

3.Acorn

Now that the two most convenient options are out of the way, I would like to mention some of the beat mobile investment apps that target the alternative markets more. And Acorn is the perfect example of that. Acorn is a mobile investment app that simply gives you an option to invest your spare change every time you make payment. Supposedly the bill is for 2.98$, then Acorn asks you whether you would like to invest 2 cents into stock and round off the bill for 3$. This happens every time you purchase something and can add up to a lot of value. It is the perfect app for students who have very little cash but want to start investing anyway. Acorn is a solid online investment app and has proven its market share multiple times in the past. So if you don’t have that much money to invest, Acorn might be the app for you.

4.Robinhood

As the name suggests, the Robinhood app focuses on the consumer more than the actual brokerage like the majority of online platforms do. Robinhood offers zero brokerage and commission fees. There is a 0$ account minimum which essentially eliminates all the costs that are associated with online brokerage platforms. That is why Robinhood is the best investment app for consumers that are just starting to invest in the stock market. Though the absence of tax relaxations is a big bummer. You have to manage your investments yourself and there are no managed portfolios.

5.Stash

Stash is THE app I would recommend for beginners in the stock market that want to jump in directly with their investments. Stash is a well-rounded platform that provides all of the features of a brokerage firm and some more in a small mobile application. A user can get brokerage and retirement accounts for only 3 dollars a month on the Stash mobile app. Though the platform is quite expensive and has fairly limited options, Stash is a very good choice if you want to start your investment journey conventionally. A very good app for people who want to start investing right away.

About Jerry Mononela

Jerry Mononela is a freelance financial advisor and accountant based in the city of Tshwane, South Africa.

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