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The Best 4 Trading Apps For 2023

28 October 2022 13:08, UTC

Trading needs differ according to investors' trading preferences. This means that many apps differentiate their offerings according to the unique needs of their target investors. Some apps offer features that are basic enough to attract new investors that are just starting on their investment journey. Some other apps target professional traders that require comprehensive market information and advanced trading options. 

We will explore the top apps in terms of features and their offerings, allowing investors to invest with confidence and reliable market information.

Investment apps make it easy for individuals to trade stocks on their phones. The advantage of having desired market research at your fingertips makes for better and more informed decision-making while trading stocks.

Key grading app features nowadays are 0-charges trading, minimal account requirement, and up-to-date informational resources. The top 4 trading apps are listed below in no specific order of performance or preference. 

1. Schwab Mobile

Charles Schwab is a renowned name in the trading industry, and its Schwab Mobile is a reasonable option for stock investors. It requires minimal finance requirements and zero charges. 

Users get to pick between just multiple types of investment options they would want, and most investment forms are available in the app. The app‘s offerings are detailed enough for expert traders and easy to use for investment newbies and experts. Schwab also has a no-fee robo adviser called Schwab Portfolios.

The Schwab Mobile app allows users to access their accounts to see their existing positions and outstandings. Users can follow market rates and use alerts to explore shares of their interest and apply a wide range of trade options from the app. 

But Schwab acquired  TD Ameritrade and thinkorswim in 2020, which is also a candidate in this list and is discussed below.  

2. Immediate Edge

If you’re seeking a beginner-friendly platform that offers the chance to buy an enormous range of cryptocurrencies in a straightforward and stress-free way, then Immediate Edge might be the app for you. This global crypto platform boasts a large portfolio of brokerages it can connect you to quickly and safely.

This highly-respected platform takes the stress out of trading and instead allows you to prioritize your time to the most important methods of trading. Most importantly, Immediate Edge is completely free to use!

3. SoFi Invest

SoFi Invest is designed to attract new traders as its offerings are more basic, making it easy to use and monitor. 

The app offers tax savings on retirement investment accounts and a bare basic set of investment options suited for new investors. Both stocks and ETFs are fully represented on the app. The stock trading option of the SoFi app offers essential information and latest price movements for all listed investments. 

4. IQTrader

The IQTrader app offers users powerful option trading tools like scanners for options, stocks, and crypto. The app offers a profit calculator and a trade simulator to let users plan their trades. 

The app has offerings that hold value for both experienced and inexperienced users. Some features allow users to research stocks, cryptos, and options. There are two versions of the app. The free version is feature-rich, while the pro version is available for $10 per month. 

The app is user-friendly, and users can control their trading portfolio with a single tap. Multiple selections are available, with detailed market information accessible through comprehensive features like options scanners, alerts, and watchlists for stocks, crypto, and other assets.  

The users can set alerts for information about stock price break-outs. The app also has comprehensive stock screeners to let its users sort through all the asset offerings to select eligible investments to earn profits. 

The app also has comprehensive scanners for stocks and crypto. Users can use the profit calculator to calculate their earnings from trades. A Trade Builder feature lets users plan their trades and see how varying market situations can be used to earn from their portfolio.

The alerts system allows users to get customized alerts for any asset class, economic event, or news. Users can set up notifications for a specific price or price % change.

Most stock apps offer $0 stock trades now, which makes it redundant as a selection criterion.  Comparing other key features like watch listing options, stock charts, and order bookings is better. 

Features like real-time streaming of prices, charting options through multiple indicators, and asset watch lists are becoming standard features for any trading app. However, the comprehensiveness of the information and features makes the difference. For instance, less than 50% of current stock apps currently support stock alerts, although they are an essential requirement of trading.