When it comes to stock trading apps, owners of Android devices have a wide variety of options to choose from. There is a good chance that you can find a platform on the market that is suitable for your requirements for stock trading. These platforms range from those offered by major investment firms to those offered by mobile-focused boutique brokerages. Finding the ideal trading app can be challenging, especially when one considers the fact that every investor has their own particular set of priorities and objectives. The following is an analysis of the top stock trading apps available for Android currently on the market, which should help you make an educated decision.
The Finest Android Applications for Trading Stocks
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Best Overall: Charles Schwab
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Runner-Up: E*TRADE
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Best Free App: Webull
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Best for Beginners: SoFi
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thinkorswim by TD Ameritrade is the superior platform for experienced traders.
BEST OVERALL - Charles Schwab
The Charles Schwab app for stock trading, Schwab Mobile, comes in at the top of our list as the best overall choice for the best stock trading app for Android. The Schwab app is comprehensive and jam-packed with features that cater to the requirements of novice investors as well as those who have years of experience trading and investing. Free stock and ETF trades are just one of the many perks that come with a Schwab brokerage account, which also does not require a minimum balance and does not charge recurring fees. The mobile app for Android includes features to monitor and manage your accounts, place advanced trades and monitor trade status, receive alerts about your stocks and stocks you follow, research investments with interactive charts, and view real-time market data. These features can be accessed through the app. Some new investors may find that an app with so many features is a bit overwhelming; however, the app should have intuitive navigation and the ability to drill into the sections that are most important to the user, which should help ease the learning curve. Traders with more experience ought to discover that their needs are met as well. App name: Schwab Mobile Account minimum: $0 There is no fee for trading stocks or exchange-traded funds. Stocks, exchange-traded funds, mutual funds, options, fixed income, and futures are examples of tradable assets.Pros
- Utilize the app for the majority of your account-related tasks.
- There are stock trade forms that are simple enough for novices to understand, as well as complex trades and advanced charting tools.
- Cost-effective trade commissions and account fees
- The advanced platforms offered by Schwab are going to be expanded with features borrowed from TD Ameritrade's thinkorswim.
Cons
- There is a possibility that some advanced traders will find certain features to be less developed than those found in competing apps.
- Trading in mutual funds that are not part of the no-transaction fee (NTF) list comes with a hefty commission.
RUNNER-UP - E*TRADE
E*TRADE was established in 1982, and in 1983 it was responsible for the very first online stock trade order. It should come as no surprise that E*TRADE has a robust offering when it comes to the mobile apps it provides, given how long the company has been involved in online trading. There are no account minimum balance requirements or ongoing service fees with E*TRADE. The commissions on stock and exchange-traded fund trades are waived. The E*TRADE mobile app for Android provides a number of features that are helpful to traders, including the following:- Trades that are both simple and complex, involving multiple legs of options
- Research conducted by a third party
- Watching Bloomberg TV via streaming
- Alerts on breaking news pertaining to your investments and the markets
Pros
- Trading tools that are simple enough for beginners to use but also powerful enough to be of use to advanced traders
- Enter complex conditional orders and trades involving multiple legs of options.
- A useful app for novice traders who are interested in expanding their knowledge of advanced trading strategies
- The Power E*TRADE app is now available for traders operating at the expert and professional levels.
Cons
- Acquisition by Morgan Stanley leaves the future of E*TRADE apps questionable.
- There is no possibility of engaging in direct trading of international stocks.
THE VERY BEST FREE APP - Webull
Webull could be a good option for you if you are looking for an investment app that does not charge any fees at any point in the process. Webull does not impose any account minimums or fees on its users. Free commissions are paid on all stock, ETF, and options trades. This also includes fees associated with options contracts, which the majority of other brokerages continue to charge. Webull is a relatively new brokerage, but it provides powerful platforms and makes consistent updates to provide features that are important to even the most experienced traders. You will have the ability to manage every aspect of your Webull account and place advanced trade orders with the help of the Webull Android app. The app developed by Webull includes support for voice commands. You have the option of entering a trade by saying "buy Apple" or selecting from a variety of other commands to sell or search. The app was developed with both active traders and options traders in mind from the beginning. You can get Level 1 and Level 2 quotes through the Webull app, and it also includes certain contingent orders like OCO. These are more advanced tools and order types, and the majority of beginners should not use them. However, there are fees associated with margin borrowing and short selling on the Webull platform, so it is not entirely free. If you want advanced quotes from at least seven different services, you'll have to pay extra for them, but the vast majority of traders won't require that kind of market data. The vast majority of traders will be exempt from having to pay any fees in order to use Webull. This is wonderful news for novice traders who are just getting their feet wet in the financial markets, as well as seasoned investors who are looking for ways to cut costs on options contract commissions. App name: Webull Account minimum: $0 Expenses, but no commissions Assets that can be traded, such as stocks, ETFs, and optionsPros
- Trades in stocks, ETFs, and options that are completely free of commissions
- Instruments that are helpful to active traders and which support more advanced trading strategies
Cons
- A small number of asset classes provided support.
- The user interface might be intimidating for some people who are just starting out.
- There is no support for online chat.
BEST FOR BEGINNERS - SoFi
The SoFi Invest platform is fantastic for first-time investors. It includes trading on mobile devices and the web that is simple to use and has almost no associated fees. Accounts with SoFi Invest do not incur any recurring fees, and there is no requirement for a minimum account balance. Trading costs for stocks and exchange-traded funds are free of charge. You are also able to trade cryptocurrencies; however, there is a 1.25 percent fee attached to each trade. A user-friendly interface is one of the beginner-friendly features included in the Android app. Other beginner-friendly features include collections of stocks and ETFs that make it easy to navigate popular stocks by category, stock data screens that are simple but useful, and built-in explanations for complex terms. Outside of the mobile application, SoFi provides its members with access to a number of useful benefits at no additional cost. These include financial planning sessions, career coaching, and community events. SoFi Invest is an excellent option for new investors because it has low fees and features that are simple to use. It's called the SoFi app. Account minimum: $0 No commission is charged on trades involving stocks or ETFs. Stocks, exchange-traded funds, and cryptocurrencies are examples of tradable assets.Pros
- A bank account that does not charge any fees and does not require a minimum balance or commissions.
- Beginner-friendly mobile app features
- Customers have access to additional free services.
Cons
- There are no options or mutual funds.
- A limited number of features for advanced or active traders
- Fees are charged for crypto trades.
BEST FOR EXPERTS - thinkorswim is brought to you by TD Ameritrade.
There is no requirement for a minimum balance to be maintained in TD Ameritrade accounts, nor are there any recurring fees or commissions charged for trading stocks or exchange-traded funds. Advanced charting tools, market news, paper trading (using fictitious funds to practice trading strategies), and additional advanced analysis tools are all available through Thinkorswim. You can have a conversation with a trading specialist at TD Ameritrade from within the app if you are working toward becoming an expert in the field. If you have a TD Ameritrade account, you have the option of using either the standard TD Ameritrade app, which is designed to be user-friendly regardless of the user's background or thinkorswim. Charles Schwab recently completed the acquisition of TD Ameritrade, but the company has stated that it intends to maintain the status quo with regard to the widely used thinkorswim platform. Thinkorswim is the name of the app. Account minimum: $0 No commission is charged on trades involving stocks or ETFs. Assets that can be traded include stocks, ETFs, options, futures, and forex.Pro
- Charting and analysis tools of a more advanced level
- Live support
- The desktop version of thinkorswim synchronizes all of its settings and preferences with the mobile app.
- Trading in paper money, also known as play money, was supported.
Con
- It could be intimidating for first-time users and those just starting out.
- Due to Charles Schwab's acquisition, it is likely that accounts will be rebranded as Schwab accounts in the near future.
How do I use an app to trade stocks on my Android device?
The use of stock trading apps for Android devices makes it simple to buy and sell shares of stock from the convenience of a mobile device, such as a phone or tablet. Making a deposit into a brokerage account and placing orders to buy and sell shares of stock can both be accomplished in a matter of seconds with the help of these applications. The majority of brokerages do not require a minimum balance, and many of them have just in the past few years introduced fractional trading (small slices of stock instead of full shares).Android vs. Apple Stock Trading Apps
Users of the iPhone and Android operating systems shouldn't worry too much about the differences in features. Android and iOS are two of the most popular mobile operating systems currently available, and as a result, both Android and Apple devices typically allow access to the same features.What Criteria Should I Consider When Choosing an Android App?
It is a good idea to look at the full feature offering of your preferred brokerages, as opposed to basing your decision solely on the Android app if you want to make the most informed decision possible. It is important to review all platforms to ensure that they are suitable for your requirements because it is likely that you will be managing your account using more than one device at a time. It is essential to take into consideration the fees associated with both opening an account and making trades, regardless of whether you are a beginner or an advanced trader. Even though commissions and fees have been falling for some time now, many brokerages continue to look for new ways to charge their clients. When selecting an account and app, you should keep an eye out for any fees that are associated with the kinds of trades you intend to make the most; fees for options trades are typically the first place you'll find them.The Benefits and Drawbacks of Using Stock Trading Apps
Pros
- You can engage in stock trading via your mobile device at no additional charge.
- As long as you have access to the internet, you will never risk losing track of the latest market data or stock prices.
- Numerous stock trading apps include all of the same sophisticated and expert trading features that are available on desktop and web-based trading platforms.
Cons
- The management of your portfolio may become slightly more difficult on devices with smaller screens.
- There are some mobile applications that do not offer the same features that are available on a desktop or laptop computer.
How We Determined That These Are the Best Stock Trading Apps for Android
In order to select the best stock trading apps for Android, our team evaluated over a dozen distinct Android mobile applications developed by leading brokerages in the United States. The fees and features that are most important to stock traders, including newcomers and experienced investors, were the primary focus of attention.