It doesn’t matter whether you are a beginner investor, you can use your smartphone for trading. The most important thing is that you choose the right trading app. Finding the best trading apps is easy right now. Nowadays, you can’t only get the best trading apps in UK but also the best trading apps around the world in a few minutes. Check the list below for your reference before using one of them.
Best Trading Apps that Will Amaze Beginner Investors
1. Robinhood
Robinhood is suitable for beginner investors because it offers free commission trading. As a result, it is considered one of the affordable trading apps for beginner or first-time investors. You can try a variety of trading options, including ETF and penny stock.
On the other hand, this app doesn’t support mutual funds. Due to its easy-to-use features, Robinhood is suitable for beginners or investors who want to invest their money in stocks for the first time. Brokerages can create accounts as many as they want because it doesn’t need account minimum requirements.
Indeed, this app also cares about the security of your accounts by supporting the system with SIPC or Securities Investor Protection Corporation. Trading is much easier with Robinhood because this app is not only compatible with Apple iOS and Google Android but also desktop.
Pros
- The app doesn’t charge any commission on ETFs, crypto, and other trading options.
- The features are easy to use even for beginners or first-time users.
- You can access this app not only on mobile phones but also on desktops.
Cons
- The investment is so limited.
- It is a lack of technical analysis tools.
Read also: DAY Trading Apps in UK 2022 You Should Know!
2. Moomoo
Just like Robinhood, Moomoo also offers a variety of trading options without any commission. The developer is not only creating this app for beginners but also for intermediate and advanced investors. It can be seen from the powerful and effective tools the developer provides for its users.
The developer even uses Artificial Intelligence tools that are more accurate in serving results when you are searching and tracking something there. Beginner users will also get abundant valuable resources to improve their knowledge about trading.
As an advanced investor, you can monitor anything you want, including in-depth market, level 2 market data in real-time, and 24/7 financial news that significantly affects stock markets. The goal of these features is to ensure that you can make a better investment decision.
First-time investors will be more interested in investing using this app because they receive three shares for free. Indeed, you will be amazed by the features and services this app serves you. Thanks to Futu Holdings Ltd or FUTU that develops this app.
It is a reputable company that also works in the US, Singapore, Australia, and Hong Kong. Best of all, this app is so flexible to use. You can trade via the Android app, Apple iOS, Windows PC, Mac, and Desktop.
Pros
- You can get level 2 data in real time for free. It is so valuable for advanced investors.
- It provides software products for monitoring stock charts.
- Users can trade without spending money at all.
Cons
- You should learn by yourself without guidance from a Robo-advisor.
3. Webull
Webull served investors in 2018. It becomes one of the best trading apps after Robinhood which also offers free commission trading. As a tight competitor, Webull serves similar services as Robinhood, such as ETFs, options, and cryptocurrency trading.
The developer supports its users a lot by providing powerful tools, including level 2 data in real-time, in-depth trading analysis, and many more. You should pay for some services, but the cost is affordable enough. Just like the references above, this app is not only compatible with iOS and Google Android but also desktops.
Pros
- You don’t have to pay commission trades.
- It supports you with effective and powerful analysis tools.
- The features support beginner and intermediate investors.
Cons
- Unfortunately, you should learn anything manually because it doesn’t provide Robo-advisor technology.
Read also: 4 Best Stock Trading Apps to Use in 2022
4. Public.com
Do you want another multi-platform trading app? If so, use Public.com to accommodate your stock trading. You can download and use this app via Android app, Apple iOS, and desktop. The developer seems to know things that Millennials and Gen-Zers need for starting an investment via mobile phones.
Unlike Robinhood, this app doesn’t use specific features, such as PFOF and kickbacks from clearinghouses. This app uses other revenue streams to keep the app running well. Investors who are using this app can’t only trade but also get more knowledge from popular investors or share their ideas with a community. Interestingly, this app also offers a signup bonus of up to $10 for those who are making their first deposit.
Pros
- This app doesn’t charge commissions.
- It doesn’t use the Payment for Order Flow system.
Cons
- There is no investment research or tools to help you.
So, you don’t need to cancel your intention to invest in stock. Get your mobile phone and download one of the best trading apps below. Slowly and carefully learn the system to get maximum results and limit the risks.