Whether you are just getting started trading or are looking for an easier way to manage a high-value portfolio on the go, there is an investment or trading app that will work for you. There are many notable platforms but we believe these are among the best. Now let’s look at seven of the most popular mobile apps and what they offer you.
eToro is a social trading app focused primarily on cryptocurrencies, though you can also invest in currency, commodities, stocks, ETFs, and index funds. It is ideal for crypto enthusiasts and supports fifteen cryptocurrencies. One of the best features is their $100,000 virtual portfolio which lets investors try their hands without risking real money.
The social trading functionality is particularly interesting. Like most social apps, you can follow and interact with other traders. Find someone you admire? eToro lets you copy their strategies using CopyTrader.
Designed for on-the-go account access, eToro’s full-featured app allows traders of all types to easily manage their account, track trends, and use the app’s advanced analytics tools.
Stocks: TD Ameritrade
If you want to invest in stocks, TD Ameritrade’s app should be high on your list. This full-featured app allows you to trade stocks, options, and ETFs. But the app does far more than let you trade stocks — you can also deposit funds, get market updates, read financial news, and access educational content.
The alert feature is handy — you can set up alerts to let you know when an event occurs (for example, if a specific stock rises or falls). You can also create a customized display screen to highlight the information that matters most to you.
Overall, TD Ameritrade is a trusted investment company that offers a highly accessible and robust mobile app. They also offer a highly-rated customer support team. Note that broker-assisted trades can be expensive compared to other apps.
Options and Futures: Tastyworks
Options and futures trading can be highly lucrative — but it is also very risky. If you are an experienced investor looking for a clean, easy-to-use options and futures platform, Tastyworks is an ideal platform.
Tastyworks caters to knowledgeable investors interested in stocks, ETFs, options, and futures contracts. It does not offer in-depth explanations, educational resources, or test portfolios for learning. The upside is that those who know what they want can complete trades with no hassle.
A major bonus — while other platforms give you a stripped-down version of their online platform, Tastyworks lets you do everything you can do online right in the app.
Tastyworks aims to make trades as simple as possible, so if that is your speed, then this is a great option.
CFDs allow investors to essentially bet on the rise or fall of an asset’s price. They originated in London and are not legal to trade in the US. Those located outside the US should consider Plus500, which focuses on trading CFDs for a wide range of investments including index funds, stocks, commodities, and cryptocurrencies.
Plus500 charges no commissions, offers tight spreads, and provides quick order execution, making it a simple way for savvy investors to keep up with complex portfolios.
The app features a very simple UI that makes it easy to view your positions and orders, check account funds, and make trades. You’ll also get access to basic information, including charts on asset performance.
Exchange-Traded Funds: Betterment
Betterment claims to support “smart investing for the long-term.” The company’s offerings include expert-level resources to help you make informed investment decisions. They also provide automated tools designed to streamline your investment and financial management.
Investing with Betterment is simple: explain your goals, and they’ll recommend a portfolio that’ll help you get there. Then, you can use their robo-investors to invest automatically and leverage strategies that will help you come tax time, including asset allocation and tax loss harvesting.
Betterment is ideal for socially responsible investors and beginners who need access to plenty of research and guidance to reach their financial goals.
Commodities: Commodity Beat
Commodity trading is a popular option for investors looking to diversify their portfolios and hedge against inflation and stock market declines. Commodity Beat is an easy-to-use investment app designed specifically for commodity traders.
The app is simple to use and provides incredibly valuable data including ticker news, economic data, pre-open market views, and a parity/disparity calculator. The live data provides information about the bullion market, precious metals, forex, and commodity index funds like SENSEX and MCX COMDEX.
Commodity Beat is an easy-to-use commodity app that provides tracking for all commodity markets, analysis, and news so you can stay up to date with what is happening in the industry.
For Beginner Investors: Acorns
Acorns has modernized saving loose change and merged it with a robo-advisor that helps you save more money — and put that money to work. Acorns rounds up your purchases on linked accounts, then puts that change into a computer-managed investment portfolio. While this isn’t ideal for experienced investors, it is perfect for those who are just getting started.
Acorns’ fee is a bit high if you have a low account balance. You’ll pay $1 a month for a standard investment account, $3 per month to add Acorns Later, their IRA account, and Acorns Spend ( a checking and savings account), and $5 to add Acorns Early (an investment account for kids).
Flat fees are rare for investment apps, which typically charge a percentage of assets per year. A few bucks sounds cheap, but can be a high percentage of your overall investments.
Overall, Acorns is an easy-to-use app for beginners or passive investors who aren’t looking to actively manage their investments.
There are dozens of investing and trading apps available, each catering to different types of users and offering a variety of resources, features, and fees.
While it might feel overwhelming at first, the good news is that there’s an app that will meet your needs no matter where you are in your investment journey.