Don’t Miss Out! The 7 Best Stock Trading Apps of 2022

The stock market can be an exciting and profitable place to invest your money, but it can also be overwhelming with the sheer amount of investment apps on the market today. This article reviews the top 7 stock trading apps available and gives you their pros and cons, so you’ll be able to make an informed decision that fits your needs and goals. Don’t miss out on this valuable information!

1) Top Overall App: Robinhood

Stock trading apps are a new way to invest and they’re changing the way we think about stocks. One app you can find on your phone is Robinhood, which lets you buy and sell shares without paying commission. You’ll pay $10 per month if you trade more than 300 times during the month. They also offer instant deposits that show up immediately in your account as well as reinvesting dividends right into your portfolio so you can start building wealth. For these reasons, Robinhood is our top overall app pick for stock trading apps because it gives customers an affordable and transparent service with an excellent mobile platform to boot.

2) Most Innovative App: Motif Investing

With the launch of Motif Investing in 2017, millions of people have had access to different types of stocks and ETFs that they may not have been able to invest in previously. Besides the diversity available, Motif Investing allows investors to focus on what they want to invest in and avoid a bunch of clutter and expense fees. Best yet? No minimum balance is required. And with over 600 motifs (theme-based collections) to choose from, finding an investment strategy has never been easier.

3) Cheapest Discount Broker: Ally Invest

With prices to suit every budget, we find that Ally Invest is the cheapest discount broker with no account minimum and only $4.95 trades for stock investors. That compares to a costlier trade price at $6.95 or more from a typical broker like Fidelity, TD Ameritrade, Charles Schwab, E*Trade, or Merrill Edge. You can open an account with no balance too and be ready to buy stocks immediately without waiting to amass enough cash from your investments to open an account with one of the more expensive brokers. What’s even better about Ally Invest is their 100% Trade Match program that guarantees you’ll never pay more than $4.95 for a trade so long as it is in increments of 100 shares or less.*

4) Easiest To Use Broker For Beginners: Scottrade

The largest downside to Scottrade is the cost. It is priced on the higher end with an annual fee of $29, plus a per-trade commission that varies between the broker’s ETF trades and stocks trades. However, for this reason, it can be a good option for those who have assets in the six-figure range. For lower assets levels, consider another broker in this list.

For those looking for an online broker that is as beginner-friendly as possible, Scottrade can be a great choice. Not only does it have no minimum deposit requirement and a flat per-trade commission rate on stocks, but its account minimum is just $1.00. On top of that, you’ll get one free trade after signing up with them using your Facebook account! All these factors make Scottrade an excellent choice for people just starting out in stock trading. They even offer tutorials to walk you through every aspect of their website and trading platform should you get stuck or need help along the way.

5) Best Penny Stocks App/Broker: E*Trade

E*Trade is a discount brokerage company that offers investors with an easy way to buy and sell stocks, ETFs, options, mutual funds, and bonds. They have 24/7 customer service, a dedicated client service team to answer any questions or concerns you may have. With features like lightning-fast trading (no waiting on live feeds), we think this is the best stock trading app. E*Trade also has no minimum deposit requirement so you can get started right away!

6) Safest Broker/App: Charles Schwab

When looking for the safest broker to trade stocks on, there are several factors to consider. A broker’s website, customer service, tools and research capabilities, minimum deposits, commissions and any other fees charged can all play a role in determining which broker is best for you. Charles Schwab provides one of the most versatile trading platforms available today with an easy-to-use interface and high-quality research for all your stock market needs. It also has low minimum deposit requirements ($1k) with no maintenance or withdrawal fees. Commission rates start at $6 per trade – making it one of the more affordable brokers on the market. As a brokerage firm that has been around since 1975, you can trust Charles Schwab to have your best interests in mind throughout your trading experience.

7) Lowest Commission Brokerage Firms For Large Trades

Although the stock market has fluctuated this year, investors are on the lookout for their next big opportunity. To find that opportunity and make a profit, there are a few tips to keep in mind.

For example, people trading stocks need to be aware of brokerage firms and broker fees. All firms vary in commission rates and fees, so be sure to research what you’re paying in commissions before committing any trades. There are several trading companies out there that offer some of the lowest commission brokerage firms for large trades- it’s just a matter of finding which one is right for you and your current needs. Some brokerage firms will offer free trades with no obligation while others require high-dollar balances before you can sign up.

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