In today’s world, people are using their smartphones for a variety of tasks that were previously reserved for other devices or human interaction. Tasks such as ordering lunch, paying a bill, and tracking daily steps have become commonplace for millions of individuals. Alongside these activities, stock trading and investing have also become increasingly popular through the use of mobile apps.
In the highly competitive world of U.S. online stockbrokers, having a viable mobile app is no longer an option, it is essential. Traditional, full-service brokerages like Fidelity and Charles Schwab, as well as newer players like Robinhood and Webull, understand the importance of having a high-quality trading app to attract and retain customers. With so many options available, the best trading apps are the ones that are tailored to meet the unique needs and preferences of individual users.
The best stock market apps must stand out in every category. They must be user-friendly, have an excellent design, deliver a comprehensive online trading experience, and offer $0 stock and ETF trades. To evaluate the top stock trading apps in the market, we conducted a meticulous review of 24 different apps from 17 brokers, evaluating each one across more than 25 different features. Our assessment focused on the quality of the stock trading experience across several usability categories. We conducted testing using an iPhone 12 Pro running Apple iOS.
Ultimately, the best trading app is one that provides a seamless and user-friendly experience for traders of all levels. The app should make it easy to conduct trades, access research and analysis tools, and manage one’s portfolio from anywhere, at any time. With our comprehensive review, traders can confidently choose the best stock trading app to meet their unique needs and preferences.
Best Trading Apps
1. TD Ameritrade — Best App Overall
TD Ameritrade is a prominent player in the world of mobile apps for trading in 2023. Available on both iPhone and Android devices, this app is a top contender due to its powerful features and $0 commissions on trades.
TD Ameritrade offers two robust apps: TD Ameritrade Mobile and thinkorswim. The former closely resembles the client web portal, making it easy for everyday investors to navigate. TD Ameritrade Mobile offers a variety of features, including news updates, price alerts, syncing watch lists, and basic charts. It also provides ratings and research reports from third-party providers, which can be helpful for making informed investment decisions.
On the other hand, thinkorswim is a more advanced app that’s geared towards technical analysis pros. The app comes with over 400 indicators, making it one of the most advanced charting packages available via mobile. Its intelligent layout and design make it easy for traders to prepare complex order types. Additionally, the app provides access to news headlines and TV streams from CNBC alongside the TD Ameritrade Network, which broadcasts nonstop throughout the trading week.
2. Interactive Brokers — Best Specialty Apps
Interactive Brokers stands out as a leading online brokerage firm, renowned for its powerful and versatile flagship platform, Trader Workstation. The platform offers three distinct apps that cater to different investor needs. The IBKR app is the flagship app that provides a comprehensive suite of tools for advanced investors. The GlobalTrader app targets beginner investors interested in global stock markets, while the Impact app is designed for investors interested in ESG (environmental, social and governance) investing.
The IBKR Mobile app is an excellent option for investors seeking to trade on-the-go. It offers a comprehensive range of tools and features, including lightning-fast streaming data, full-featured order entry, portfolio management, and robust charting. The app comes with over 70 optional indicators and easy customizations, making it a flexible tool for investors of all levels. However, one drawback of the app is that stock alerts cannot be delivered via push notification and come through email instead.
Interactive Brokers’ Impact app is one of the best stock apps for investors interested in screening for social and environmental issues. The app is designed to help investors identify companies that align with their values and avoid investing in companies whose practices they find objectionable. The app allows users to select their personal values and corporate practices they oppose, such as animal testing or carbon emissions. Investors can then “swap” portfolio positions with a single trade, enabling them to align their portfolio with their values.
3. E*TRADE — Best Stock App for Traders
ETRADE, a leading online brokerage firm, has been widely recognized for its mobile app suite, which ranks among the best in the market for both iPhone and Android devices. The ETRADE package includes two distinct apps: ETRADE Mobile and Power ETRADE. While the former is optimized for everyday investing, the latter is geared more towards trading and caters to very active traders.
E*TRADE Mobile, the everyday investing app, is a versatile tool that offers a wide range of features to cater to both beginners and seasoned investors. It provides an impressive array of advanced research reports, and its charts come with 10 indicators, making it a valuable resource for those seeking in-depth insights into market trends. The app’s interface is user-friendly and intuitive, allowing users to navigate through its many features with ease. Its depth and variety of tools make it an ideal choice for demanding investors who seek more sophisticated features.
Power ETRADE, on the other hand, is a high-powered platform designed for very active traders who require sophisticated tools to conduct complex trades. It offers a comprehensive range of complex orders for trading, including advanced options orders, and boasts over 100 charting indicators, providing users with all the data they need to make informed trading decisions. Despite its complexity, Power ETRADE’s modern design and intuitive interface make it easy to use and navigate, ensuring that even novice traders can take advantage of its sophisticated features.
4. Fidelity — Best Novice App
Fidelity, a leading broker in 2023, has a range of mobile applications for both Android and iPhone users. Their primary offering is the investing app, which is designed to cater to the needs of everyday investors who are looking to trade and invest on the go. In addition, Fidelity offers two other apps – Bloom and Spire – that are geared towards novice investors.
With Fidelity’s investing app, users can perform a range of activities, including banking, transferring money between accounts, managing orders, and placing trades. The app is designed to be user-friendly and intuitive, making it an excellent choice for those who are new to investing. Additionally, the app provides users with a personalized feed of news and research, as well as streaming TV from Bloomberg, which is consistent with Fidelity’s Active Trader Pro desktop platform.
Although the app has some limitations, such as basic charting and a lack of optimization for day trading or more demanding traders, the layout is exceptional. The app’s design is sleek and straightforward, making it easy to navigate and use. Furthermore, Fidelity is continually adding innovative features to the app, and users can even toggle to a Beta Experience for a more simplified version.
5. Merrill Edge — Best App for Banking and Research
Merrill Edge offers a one-of-a-kind client experience that makes managing your investments an enjoyable and effortless experience. Whether you’re checking your portfolio or researching stocks and funds, the platform strikes the perfect balance between providing enough information to make informed decisions and not overwhelming users with details. In addition, the platform provides a wealth of information for users who seek more in-depth research on investments.
At Merrill Edge, the user experience is top-notch, and the platform’s interface is intuitive, easy to navigate, and aesthetically pleasing. It is designed to meet the needs of investors of all levels of experience, from beginners to advanced traders. The platform’s clean design and user-friendly interface make it easy for investors to find the information they need to make sound investment decisions.
Merrill Edge is a game-changer in the investment world. With its exceptional client experience, investors can easily manage their portfolios and make informed decisions with ease. For customers of Bank of America, Merrill’s corporate parent, the platform offers a convenient way to add self-directed investing to their banking relationship, providing a seamless and integrated approach to managing their finances.
