Trading in the stock market has become an exciting affair. Through technological advancements made in the field, it’s much safer and secure than before. Every stockbroker has elevated their offerings in terms of tools & features to give investors/traders a seamless trading experience.
Though these stockbrokers’ offerings might be free (if you use these services and pay an annual fee), several other platforms offer free stock trading apps. If you are on the hunt to use the best? Then we have enlisted a few below. Do take a look.
What are Stock Trading Apps?
All thanks to the rise in fintech, stock brokerage companies have opened up the boundaries for “trading on the go.” It has been all possible through these stock trading apps. They are nothing but easy to use applications that let users carry out trades all through their mobile phones through apps. Simply refresh your stock market basics and you are good to start using these friendly apps.
In laymen terms, it’s the watered-down version of a full-fledged stock market application that is compatible with your mobile devices for trading. If you are wondering that if it’s free to use? Then you are both right and wrong.
Companies offer their dedicated applications if you have an account with them. If not, you can use other third-party applications provided you have a stock trading account. These third-party accounts are often free to use with close to less or no charge to undertake any trade whatsoever.
Stock Market Trading Apps with No Deposit
E*TRADE accounts have been known for offering free trading services over a long period. But in recent times, things have changed where special promotions run around to get free trading for a limited period. The platform currently offers a free 60 – day trial period to carry out more than 500 trades free of any commission.
The app offers 24/7 customer service, detailed research information, and much more. The app comes loaded with seamless features for experiencing the best stock market trading experience. If “trading on the go” is your motto, then this application is a must-try.
There’s an excellent reason why the stock trading app accumulated a customer base of over 6 million users back in 2019. It’s all thanks to its daring commission-free trading services started by Vlad Tenev and Baiju Bhatt back in 2013, offering such services through their free trading model implementation.
The platform has no maintenance fees whatsoever. All users have to create an account with as little document requirements as possible and start trading explicitly. However, there are have been speculations on how Robinhood makes money. Still, for its easy to trade nature and to offer a variety of derivatives to trade from, it’s become a fan favorite.
The only downside to the stock trading application is that it doesn’t allow for fractional investing, but only whole shares can be bought from the app. It’s relatively cost-effective and has appealed to a greater audience for the service it offers currently.
For beginners looking to take their baby steps into the world of investing, then this stock trading app is the one for you. The entire application diversifies in micro-investing, which is investing your spare change in stocks. There is no minimum take or give in creating the account. Though, at the time of investing, there would be a minimum charged.
The best about this platform is that there are no charges for the inactivity of the account. Furthermore, it allows for “spare change” investing practices to undergo seamlessly from your credit/debit card.
4. Charles Schwab
Investors/traders looking to get their hands-on investing in ETF’s can do so through Charles Schwab. The application provides well over 200 ETF’s to choose from, all being commission-free. It’s your “one-stop-shop” trading and investment app as the bank, and trading applications are linked together.
There are around 400 mutual funds options, all of which have no transaction fee whatsoever, with no minimum balance requirements. Although, there might be a small fee capped on regular trades being made. Its commission-free mutual fund and ETF trading and selections are a strong contender for the best free stock trading application.
5. M1 Finance
Being entirely commission-free and transaction fee-free, M1 Finance enables users to invest in fractional shares as low as a single penny. Users can diversify their investment strategies by creating “Pie charts” that help keep track of their investments.
There several different pie designs to choose based on the requirement. Each of these designs can be subjective to the trades carried out or for prospects in trading. For a wholesome zero – commission trading experience, M1 Finance helps in becoming a DIY investor indeed.
6. TD Ameritrade
Through promotional discounts and other offers, TD Ameritrade offers free trading accounts for its customers and users. There is a 60-day period where customers can enjoy a plethora of services the company offers on various equity and ETF trading options.
After the completion of the 60 days, trades are still capped fairly lower than the market price. There are well over 300 commission-free ETF’s to choose from and hundreds of mutual funds (transaction free fee) to select.
Like its online trading platforms, it offers outstanding trading services bundled with a variety of top-notch detailed research advice such as cash management, investment strategies, and much more.
Though different types of stock brokers may offer free trading services, they could be a temporary affair. To avail all the significant and premium features and offerings, you’ll have to spare some money when the trial period ends. You could try out other applications that offer a smooth trading experience but not fully-fledged with trading features.
Though things might seem fine and dandy, it’s a better practice in comparing one stock trading app through several parameters. These include features, services offered, responsive rate and more. Also do look into other criteria as per your convenience before taking the final call.
However, they are safe, secure, and reliable methods of getting trade carried out on the stock market without any hesitation. A few of the options listed above have the feature of trading in cryptocurrency as well. Through your Android or iOS device, personalize your trading experience for a comfortable trading venture.