With the stock market having more eyes on it than ever before as a result of Gamestop and AMC stocks soaring to disrupt the market, more people want their hands in the action. Reddit, TikTok, and other social media platforms are largely responsible for an increased awareness of the market, short-sellers, hedge funds, and other topics concerning the stock market that may have once been foreign to many. We’ve rounded up the best stock trading apps for the new year for people who are interested in getting involved in day trading or investing.
Despite Robinhood being the center of the Gamestop and AMC Reddit scandal in recent weeks due to rolling back the trading of those stocks, the app is great for beginners to get involved in trading stocks. The platform doesn’t charge fees on trades, making them a great starting point for people who want to invest through an app. The platform is user-friendly and new account owners get one free stock, making it a no-brainer for people newly entering the world of the stock market.
Acorns is a great option for individuals who have fewer dollars to work with, but are still interested in investing. The app, while it charges $1-5 per month depending on the subscription plan, provides a $10 sign-up bonus. It also offers a “spare change” feature that automatically rounds transactions up to the nearest dollar to invest. This makes it easy to invest your extra money without necessarily putting a specific dollar amount away into your investments.
TD Ameritrade is one of the longstanding stock trading apps via a brokerage. The app doesn’t require a minimum investment but does charge $6.95 per trade with an upcharge for options. While this seems expensive, TD Ameritrade is best known for its top-notch customer support.
Customers have access to 24/7 support via phone, text, and instant messaging for any questions they may have. TD Ameritrade has 364 branch locations nationwide that are also available for walk-ins, making the convenience factor worth the premium.
E*Trade is the best fit for seasoned traders, as it’s designed for DIY investors to buy into a variety of assets beyond stocks, including mutual funds, ETFs, futures, and options. This app is great for investors who want to take a deeper dive into data such as earnings, dividends, and even news about the companies in which they invest. E*Trade charges a $6.95 fee per trade for access to this data, which can also make it a great option for beginners who want some additional insight into their trades.