The world of trading has always been an interesting topic for most people, but not something they’ve actively pursued. With trading becoming more accessible to everyone these days, people are starting to see that there might be benefits to giving it a shot. Of course, trading platforms play a crucial role in this decision. These excellent tech advancements exist to help newbies step into the trading world and hopefully make the kind of profit they deserve. With that in mind, here are some of the top trading platforms that newbies can try on mobile right now.
Robinhood is currently one of the most popular trading platforms out there. While the catchy name certainly has a lot to do with its success, one of the biggest reasons why so many users opt-in to use this platform is the free stock options. As most newbies aren’t looking to spend any more than they have to, the free stock options, cryptocurrency trades, and ETF trades show plenty of promise. On top of not having any fees, Robinhood also has an account minimum of $0 that doesn’t hurt its cause.
While the pros of using Robinhood are pretty obvious, the platform does come with some cons that might put some people off. Arguably the biggest downside of Robinhood comes from its lack of helpful trading tools. Users shouldn’t rely on finding any market research information on the platform as it’s practically nonexistent, and they shouldn’t expect to find mutual funds and bonds options as well. Robinhood is an excellent option for cutting costs and crypto trading, but it lacks a helping hand for newbies.
Here’s a name you’ve probably heard before. As you probably already know, eToro had one of the most aggressive marketing campaigns out of any trading platform, and it worked wonders! Combined with the excellent user experience it provides and multiple trading options, eToro has managed to become one of the best stock trading apps UK, and far beyond that! As of right now, users can trade stock, CFDs, cryptocurrencies, and plenty more options with no commission!
What makes eToro such an excellent option for beginners is the social aspect of the platform. Users can easily track some of the best performing traders on the platform to get some pointers on what seems like a good investment. Of course, the real star here is the platform’s copy-trading tool! With the simple click of a button, users can copy all of the trades from top-performs. For those looking for a bit more independence, eToro also provides excellent market research and a personalized news feed that can help you stay up-to-date with the latest changes.
If you’re looking for something best-suited for the everyday investor, Fidelity is one of the best choices you can make. As expected, the value-driven platform offers users no commission trades like the others on this list. Thankfully, things don’t just stop there. The Fidelity mobile app is intuitive and easy to use, making it a perfect fit for newbies. Fidelity also offers solid market research, several trading tools that users can take advantage of, and something a few of the other apps on this list lack – comprehensive retirement services!
Ameritrade is among the most popular trading apps worldwide. Like the other platforms on this list, Ameritrade offers users a top-notch experience thanks to the lack of commissions on online stocks and multiple trading options. Unlike Robinhood, Ameritrade does offer users a mutual funds option, and a top-notch one at that! As of right now, Ameritrade has one of the largest selections of mutual funds of any trading platform on the market!
Surprisingly, there are pretty much no cons to using Ameritrade. The platform is a trading dream for newbies as it offers them thorough market research that can help them make better informed investing decisions. On top of all this, it also boasts excellent education resources for beginners that need a bit of a boost to get started. From everything we can summarize, Ameritrade is arguably the best broker you can get your hands on.