5 Best Free Stock Trading Apps in 2021

As the world shifts online, the investment world is catching up. There was a time when stock trading was a hassle, but now more and more stock trading apps that are completely free are coming into the market. These apps are usually backed by established brokerage firms and allows investors to trade stock in just a few taps. Mobile apps are making lives easier all over the world.

But as the market of stock trading apps becomes increasingly saturated, it becomes all-the-more confusing for new investors thinking of diving into this world. Hence, we decided to compile a list of the best free stock trading apps for you, so you don’t have to.

Etoro

On the off chance that you are hoping to get into the worldwide market, at that point, Etoro might just be it for you. It is a highly recommended app for online trading. Etoro is not just an app for beginners, but it is also for expert traders. The user interface is simple and straightforward.

Fees

eToro doesn’t charge any commission of any sort for online exchanges of stocks and ETFs. eToro additionally doesn’t have any charges for deposits, while withdrawals have an expense of just $5. It is hands down one of the most affordable stocks exchanging applications out there. However, CFD and social trading have a charge.

Assets

eToro gives one of the broadest range of assets that one could wish to put resources into. With admittance to seventeen global markets, traders have access to as many as 1700 unique stocks. eToro is likewise renowned for stocks as well as bonds, cryptocurrencies, and forex.

Features

Accessible in 21 languages, the application has a variant for the two operating systems, iOS and Android. An extraordinary feature of eToro is social trading, which is totally one of a kind to eToro. This feature permits clients to duplicate trades of different traders with no additional effort. Merchants can peruse and discover other expert traders with portfolios that stick out. What’s more, is that not exclusively would you be able to decide to duplicate their past trades, you can likewise settle on replicating their present progressing trades. eToro additionally gives a social platform where traders can collaborate with one another by posting and commenting, like Facebook for traders.

Pros

  • Over 1700 stocks
  • Access to 17 international market
  • Available in 21 languages
  • No commission
  • Friendly user interface

Cons

  • Lack of technical analysis.
  • Free for EU users only
  • Doesn’tDoesn’t have a touch or face ID login

Robinhood

Robinhood is an extraordinary choice for the US market. It is an acclaimed application for trading in the US with more than 10 million active users. Robinhood offers some interesting functionalities that are explicitly focused on beginner level traders. The application is exceptionally easy to comprehend, and amateur traders can get the hang of it surprisingly fast.

Fees

Similar to eToro, Robinhood doesn’t charge anything for online trades. So you get online trades for zero commission, and you do not have to worry about maintaining a minimum account balance. There are not any month to month or yearly account charges either.

Assets

Robinhood has a wide scope of stocks and ETFs accessible for trade. Traders can exchange 250 stocks that are available on foreign exchange. Apart from ETFs and stocks, cryptos, options contracts can also be traded.

Features

If you are a beginner, then Robinhood has exceptional offerings that are solely intended for you. Robinhood offers novice guides, detailed articles, straightforward analysis, and numerous different resources that are extremely useful for beginner level traders. Robinhood also has a cash management feature that allows traders to earn on the cash that has not been invested.

Although Robinhood is referred to as the app for beginners, that doesn’t imply that it lacks any core functionalities which would pose a hindrance for more advanced traders.

Pros

  • Zero commission on ETFs and stocks
  • No account balance limit
  • Better suited to beginners
  • Over 5000 stocks

Cons

  • Lack of option for credit/debit card deposit

E*Trade

E*Trade is the platform to opt for if you are looking for a fully-inclusive experience. It has been positioned on the top in mobile stock trading. E*Trade offers two versatile mobile applications. The mobile apps, E*Trade mobile and Power E*Trade, are free and available on iOS as well as Android.

The Power E*Trade is the advanced version of E*trade. The app is better suited for more qualified traders. It offers cutting-edge strategies with popular technical analysis, charts, live streaming, and updates.

Fees

E*Trade is a very affordable option in the market. Like competitors, E*Trade does not charge commission. Moreover, even if you do not have an account, you will still get mutual funds and ETF screeners for free.

The fee of an options contract is a mere $0.65. There are no yearly or inactivity charges, but transfer fees are charged. For a complete transfer, the fee is $75, and for an incomplete transfer, the fee is $25.

Assets

Around 2,000 ETFs and 9,000 mutual funds are ranked on various categories that traders can easily browse. Mutual funds, ETFs, options, bonds, stocks, and futures are the securities offered by E*Trade.

Features

The mobile app is simple and easy to use, and E*Trade focuses a lot on research and portfolio management to provide top-notch services. The charting functionality is a dream for any trader. With ample indicators, the experience is smooth, and the charts are immaculate.  

Pros

  • Good research
  • Zero commission on ETFs, stocks, and options
  • No maintenance of minimum account balance
  • Advanced functionalities of the mobile app
  • Customer support

Cons

  • Not very suitable for beginners

Fidelity

Fidelity is considered good for everyday use. Offering Android and iOS operating systems, Fidelity’sFidelity’s mobile app ensures a good user experience. Fidelity has over 32 million active users and is another top-ranked mobile trading app.

Fees

Fidelity offers zero commission charges on stock and ETFs. Moreover, no extra charges are implemented on penny stocks. Fidelity does not have any Payment of Work Flow charges, which is an additional saving for users.

Assets

Fidelity’s assets incorporate stocks, ETFs, mutual funds, and various retirement plans. The international trading option of Fidelity enables users to trade in twenty-five countries. However, on the downside, Fidelity is not currently offering futures or forex.

Features

Fidelity provides hands-down the broadest research in the market. Fidelity gives live market commentary and utilizes various research reports from external sources. Fidelity is undoubtedly one top of its game in regards to research.

The mobile app has a unique note-taking feature. This feature allows traders to save thoughts and views on various stocks and markets. The Fidelity app offers live-streaming from Bloomberg.

Pros

  • Leading research
  • Affordable
  • Zero commission charged on stock & ETFs
  • No maintenance of a minimum account balance

Cons

  • Lacking in active trading
  • Limited investment offerings

TD Ameritrade

TD Ameritrade has two distinct apps that target different calibres of traders. The TD Ameritrade is better suited for beginner-level traders, whereas Thinkorswim is a furthermore developed and advanced alternative for experts. Mobile Trader is the application accompanying Thinkerswim.

Both of the applications are similar when it comes to UI. It offers a smooth and unique experience. The applications are also equipped with many features, including dashboards that can be altered to one’s preferences, ratings from various agencies, watch lists that are synced, and research reports.

Fees

TD Ameritrade charges zero for stocks and ETFs. Moreover, users do not have to worry about maintaining a minimum account balance. For Options trades, the charge of a contract is $0.65. The charges of penny stocks, mutual funds, and broker-assisted trades are also on the lower end.

Assets

TD Ameritrade offers an assortment of stocks, bonds & CDs, mutual funds, ETFs, options, futures, and forex. Account plans like IRAs and 529 are also included in TD Ameritrade’sAmeritrade’s offering.

Features

TD Ameritrade has a rich, instructive resource with articles, aides, and videos for novice traders. Their resource sphere provides a clear distinction from other stock trading apps.

The think or swim is equipped with advanced charting and trading tools. Through the web, traders can also perform earning analysis. Upon login, your web activity is synced into your app.

TD Ameritrade has fully integrated AI, which allows users to access the app through Alexa, Facebook, and various other platforms.

Pros

  • Applications for novice and expert
  • Zero fees for online trades
  • Zero minimum balance
  • Rich educational resources
  • AI integrated

Cons

  • A low-interest rate on uninvested cash
  • Website crashes

 

Conclusion

Stock trading apps allow traders to trade on-the-go. Ever since their boom, brokerage firms have been competing to provide the best app and the best experience for users. There are many other apps with many great features, so if you do not feel like taking someone else’s word for it, then go explore yourself.

The process for registering on mobile trading apps is similar as most are backed by brokerage firms. The process is very simple: open an account, deposit funds, and start trading. Some of the factors that you need to keep in mind while choosing mobile trading are commission & charges, ease of deposit & withdrawal, assets offered, variance, trading tools, and user experience. In the end, it is trial and error.