The 5 Best Trading Apps For Beginners

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With over a thousand trading apps available in the market, you need to choose one that meets your financial goals.

To develop the best trading app, you will have to consider trade markets available, commission fee, regulation, and ease of use.

In NatchgeFragt.net, we discuss the following five best trading apps for beginners.

Let's get started!

1.  eToro

The eToro trading app is the best for beginners in 2021. This top-notch app serves more than 17 million investors, and you can trade using it without any commission fee.

Opening a brokerage account is free, and the registration process does not consume much of your time. After registration, you will not incur any ongoing charges, and you will be able to access vast tradable markets.

You can trade over 2400 shares across 17 international markets, 16 cryptocurrencies, CDF instruments, and over 250 ETFs via the eToro app. The app also allows you to do forex trading as it supports over 55 pairs.

This app is regulated with licenses from CySEC, ASIC, and FCA. To get the eToro trading app, you must have a minimum deposit of $200. The app allows you to transfer funds to your account using credit cards and Paypal.

Pros

  • The app is user-friendly
  • Commission-free stock trading
  • You can trade digital currencies, forex, and other commodities such as gold
  • You can easily copy other users
  • The app is highly regulated

Cons

You cannot conduct technical analysis using this app

2.  Wellbull

Wellbull is a stock trading app that was launched in 2018. This trading app provides commission-free trades on cryptocurrencies, ETFs, and stock trading. You can easily access Wellbull using your tablet, smartphone, or computer.

Wellbull also offers fantastic tools that you can easily use to conduct in-depth trade analyses. The app provides free to low-cost services, making it an excellent choice for examination and stock research apps for technical analysis.

This app doesn't require any minimum cost to maintain. Wellbull also offers promotions frequently that give you free stocks.

Pros

  • You can trade digital currencies
  • Vast, powerful features compared to most trading apps
  • Offers commission-free ETFs and stock trading
  • Availability of trading options

Cons

  • Incompatible with fractional shares
  • Does not support trade mutual funds
  • Limited educational resources
  • You will have to subscribe to conduct market research and acquire market data.

3.  Robinhood

Robinhood is an excellent easy to use app that allows you to trade cryptocurrencies such as Bitcoin, stocks, and options. The app serves more than 10 million users and has a market value of around $7.6 billion.

Robinhood offers a cash management feature where you earn monthly interest. You can also access Morningstar stock research through Robinhood Gold's premium version. This app is commissions-free and charges zero-fee per contract.

Pros

  • Its commission-free
  • It is straightforward to use and is ideal for beginners
  • Supports cryptocurrencies, ETFs, and stock options
  • It is highly regulated
  • It does not require any minimum balance

Cons

  • Does not support credit/debit card or e-wallet deposits
  • Limited educational resources
  • Lacks mutual fund investment
  • Accessing stock research requires an upgraded account

4.  SoFi Invest

SoFi invest is the best app for both stock trading and Robo-advisory services. You can also trade ETFs and cryptocurrencies using this app. This app offers you a variety of options on how to invest your money, making it the best choice for holding investment accounts.

Using the SoFi mobile app, you can apply for a personal loan, private student loan, mortgage, high-yield savings account, or credit card.

Pros

  • Offers fractional shares
  • Availability of retirement accounts
  • You can invest in stock and trade cryptocurrency
  • Provides a vast amount of alternative financial products

Cons

  • Lacks options and mutual fund trading
  • Lacks stock research

5.  Capital.com

Capital.com is an excellent trading app for beginners in the financial markets. The registration of this app is fast and allows you to immediately start investing in a risk-free environment using the Capital.com free demo account. You can trade stocks, commodities, forex, and cryptocurrencies.

Capital.com requires a low minimum account deposit of $20 and offers excellent educational resources such as guides and trading explainers and a learning app called InvestMate. Additionally, this app is straightforward to use, so it's beginner-friendly.

Pros

  • Commission-free on all markets
  • Availability of massive CDF instruments
  • Beginner-friendly
  • Low minimum deposits

Cons

  • It doesn't support traditional investments
  • It's not perfect for experienced traders

Bottom line

Choosing a top-notch trading app can be a daunting task. You will need to consider factors such as the app's reputation, minimum deposit required, and whether it supports your financial markets.

Additionally, it would be best to check the app's features and tools and confirm whether it provides an excellent user experience. The above apps will give you a great option to start your trading journey based on these considerations.

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