In the last few years, the stock trading app industry has evolved much more as numerous online brokers have significantly adopted the mobile-first approach. The heightened use of smartphones or tablets by investors and traders, which has become their primary platform for trading in the digital world, is driving the stock trading app industry at a striking pace. Online brokers have made increasing efforts towards improving their mobile apps, which is also enticing more mobile users. Making use of best online investing apps offers a consistent experience between desktop and mobile platforms, such as sharing watch lists and alerts, along with stock screeners and depositing checks into account, and other tools.
However, the stock market poses a set of risks, but if approached in a disciplined manner, it can benefit to build up the most effective net worth. There are two main types of stock, common and preferred, and the term equities is tantamount with common shares. Typically, the stock market serves two key purposes, first, providing capital to companies that they can use to fund and expand their businesses. And second, giving investors, who purchase stocks, the opportunity to share in the profits of publicly-traded companies.
In the wake of COVID-19, the stock market is facing a very crucial period. Despite this, the interest in stock trading apps is continuously rising. The stock trading startup Robinhood, for instance, which had experienced early outages as the markets began its rampant fluctuations, registered some of its biggest growth numbers of the year.
According to the company, it has already seen around ten times the net deposits for the month against its monthly average in the fourth quarter of 2019. Daily trading volume is also up over three times the monthly trading volumes the trading company recorded in the Q4 of 2019.
Additionally, major online brokers, including Charles Schwab, TD Ameritrade and Etrade, also saw new accounts grow as much as 170 percent in the first quarter, when stocks experienced the fastest bear market and the most awful first quarter in history. A majority of the millennial population apparently saw it as an opportunity and started purchasing familiar tech stocks. As technology stocks started to rebound stock market, some are expecting recovery of the economy that has impacted by COVID-19.
A Look at Some Best Stock Trading Apps
As mobile trading apps have become essential platforms in the stock market now, here some best stock trading apps must look for in 2020.
TD Ameritrade has two of the best apps for stock trading as it lets investors select between the TD Ameritrade Mobile App and thinkorswim Mobile. As remains one of the largest online brokers and has continued to build on its edge with beginner investors, TD Ameritrade reaches customers and prospects with on-ramps to its services constructed on a variety of social media platforms. The mobile apps from the trading firm are well-designed and give investors the choice between an investment-focused app and a trading-focused app.
E*TRADE, an online brokerage pioneer, offers three computer-based platforms and two full-featured mobile apps that will appeal to a wide array of investing styles and interests. The company’s flagship web platform, etrade.com, has been remodeled to be easier to navigate. Options tools they acquired and integrated into the Power E*TRADE platform, after purchasing former rival OptionsHouse, have provided them some top-notch options tools. Its E*TRADE Pro, a downloadable platform for frequent traders, offers streaming real-time data and excellent charting tools.
Webull, a technology-focused trading app, provides intuitive and powerful advanced charts, multiple technical indicators, and many advanced real-time market data options to assist users assess companies, trends and grasp trading opportunities. It offers $0 commission or contract fees for the online stock, ETF, or options trades, as well as $8 to $45 for wire transfers with additional fees. With Webull, users can consolidate their watchlists, analyze charts, place orders, check their positions across all of the Webull platforms such as mobile, PC, and web.