Many people do not start trading stocks and investing early because they think that it is very complicated. With the support of the best free trading stock apps, you can start your stock trading in 2022 with no difficulty, at all.
Best Free Trading Stock Apps
1. TD Ameritrade
Of various free trading apps, TD Ameritrade shines the most because of some reasons. First things first, you do not have to pay any commission for trading stock and ETF. It also offers various investment vehicles to choose from. More importantly, this free stock trading app comes with great customer service. This app also offers not only active but also robust trading platforms.
Nevertheless, no free trading app is perfect as you can expect. TD Ameritrade comes with some flaws including no fractional shares investing option. You cannot invest in cryptocurrency with this app, as well.
Read also: Top 3 Best Trading Apps for Beginners You Should Know
2. E*TRADE
Why must be E*TRADE included in the best apps for trading stocks? It might be a free app for trading stocks but it is packed with various great features. It might appear as a regular app, but it makes people can use this app easily. If you are an active trader, you can use this advanced app. This app also comes with strong offerings of in-app news and research. One thing is for sure, you can use this app with no commission needed for trading ETF and stock.
Yet, you should not choose this app if you want to get fractional share investing support. You cannot invest in cryptocurrency with this app although you can do some futures trading. This app does not have access to international exchanges, as well.
3. Merrill Edge
Merrill Edge comes with brokerage offerings and investing app that can be suitable for Bank of America banking customers. Nevertheless, this app comes with more benefits that make it must be included in the list of the best free trading stock apps.
With this app, you can trade ETF and stock without having to pay any commission. This app also offers wide options of account types. Another great thing about Merrill Edge is that it comes with nationwide branch access. That is why it is great for the customers of Bank of America. It also has a Preferred Rewards program for users.
However, its trading platforms can be beaten and it can be a crucial drawback of this app. You cannot invest in cryptocurrency on this app.
4. Fidelity
The very first reason why Fidelity can be included in the best free stock trading app is that the mobile app is highly rated. Some other free stock trading app does not come with fractional share investing, but you can find it in the Fidelity app although it is on S&P 500 stocks only. Brokers that are not based on the app rated this mobile app the highest. You can find only a few brokers that are allowed to trade on international stock exchanges and Fidelity is one of them.
However, the high rate of this mobile app also comes with higher margin rates than other apps. It offers commission options on the higher end of the spectrum. Your hope to trade or invest cryptocurrency with this app is zero.
Read also: The Best Stock Trading Apps for Beginners and How to Find Them
5. Ally Invest
Ally Invest might be a trading platform based on an app but it comes with a lot of features. This app can be considered one of the lowest mutual fund commissions that can be found out there. This app also provides IRAs for retirement savings. Ally Invest is not only an investment app that allows you to create an investment account. You can also create a banking app in the very same app.
Although this app is packed with features, serious traders might not find this app sophisticated for trading. You cannot find no-transaction-fee (NTF) mutual funds from this app, as well.
6. Charles Schwab
Are you looking for the best trading apps for cryptocurrency? Then, this app will not be the right choice for you because it does not offer cryptocurrency trading. This app also comes with margin rates on the high end.
However, you can find that this app can be considered one of the most feature-packed trading apps in the US. You can also do fractional share trading with this app. You can improve your knowledge and trading with this app since it comes with a lot of research offerings and educational features. More importantly, you can find various options of mutual funds, such as Schwab's proprietary products. If you are a Schwab 401(k) plans user, you can access your account through this app.
Free trading apps will be beneficial for you who are looking for convenience. You can trade stock anytime anywhere. Beginners and seasoned investors will find them perfect. However, the functionality of free trading stock apps will always be more limited than the desktop-based trading platform. You can even find many apps that do not come with essential features such as educational resources and stock research.