Trading in 2020 means access to more technology — and you may be on the search for the top apps for penny stocks.
Ready to put your smartphone to use in your trading? Yep, there’s an app for that.
There are several apps designed to help traders just like you each day. In this post, I’ll share some of the top apps in your phone’s app store that might help your trading day.
Whether you need a way to buy and sell stocks, apps for penny stock news, or something to help you improve as a trader, my list of 15 apps has something for you…
Plus I’ll tell you about how you can get a 14-day trial of a trading platform designed specifically for trading penny stocks.
Here we go!
Table of Contents
- 1 What Are Penny Stocks?
- 2 The Top 15 Apps for Penny Stocks and Trading
- 2.1 Brokerage Apps
- 2.2 News Apps
- 2.3 Productivity Apps
- 3 Trading on Your Phone vs. Trading on Your PC or Laptop
- 4 What Trading Software Should You Use On Your PC?
- 5 Top Apps for Penny Stocks: Conclusion
- 6 One Platform. One System. Every Tool
What Are Penny Stocks?
Before we dive in and examine awesome apps for penny stocks and beyond, let’s discuss what a penny stock is.
The stock market’s made up of a huge range of companies…
And at the other end of the market is where you find penny stocks. They generally trade for $5 per share or less. Bottom line: these are small companies with lower-priced stocks.
Most penny stocks aren’t exactly household names. But there are a lot of reasons why many active traders prefer to trade penny stocks over the larger names…
Why Do Traders Love Penny Stocks?
Since you’re reading this, I’ll assume you’re not looking to invest billions of dollars…
You maybe have a small trading account and are looking for ways to grow it.
So how can you potentially grow your capital quickly? You need to learn to trade the stocks that can make the biggest moves. I’m talking 10%, 20%, 50%, or more in a day or less.
But it’s not only that these stocks make big moves … It’s also that they can be easier to trade. It’s not easy to trade ever. But compared to some other market niches….
Take for example large-cap stocks. Your competition here will often be traders at banks and hedge funds. They have teams of analysts and years of experience…
But big traders and Wall Street tend to ignore penny stocks. They’re too small. That means that your penny stock competition is often amateurs who don’t have a clue what they’re doing.
Don’t be that amateur who gets into the market with no education. Focus on learning everything you can first. Our SteadyTrade Team is a great way to get a thorough trading education, mentorship, and community.
How Do You Buy Penny Stocks?
Buying penny stocks is technically easy. All you need is a brokerage account and some trading capital.
Doing it well and consistently is another story.
Opening a brokerage account is simple. Need tips for selecting the best broker for you, check out this blog post.
As for how much capital you need if you’re just starting … You don’t need a huge account. Some successful traders started their careers with as little as a few grand.
Why Should You Use Apps for Trading Penny Stocks?
Successful trading is all about developing your skillset to compete with other traders in the market.
One way to improve as a trader is by using your smartphone to help you stay more informed, efficient, and productive.
Maybe that sounds complicated. But it doesn’t have to be if you pick the right apps and know how to use them.
The Top 15 Apps for Penny Stocks and Trading
On the StocksToTrade team, we use our smartphones a lot. When we brainstormed about the top apps for penny stocks, we discovered there were many to choose from.
The following are the apps that we think can help traders of all levels.
Please note that StocksToTrade offers broker integration with some brokers mentioned in this post. Otherwise, we have no other affiliate relationship with any of these apps or their developers.
Do you need to download all these apps? Absolutely not! Browse through the list and check out the ones that look most interesting to you. They’re broken down by brokerage, news, and productivity.
Now, here are my top 15 apps for penny stocks.
1. TD Ameritrade
TD Ameritrade is a well-known U.S. stock brokerage firm that millions of traders and investors use.
The brokerage has no minimum account size and offers commission-free trading for certain order types.
Its thinkorswim mobile app has a wide array of features — advanced order types, mobile charting, and live support. That all adds up to a good app for both beginner and advanced traders.
2. Ally Invest
Ally Invest is the brokerage arm of the publicly listed Ally Financial company. This financial conglomerate has a history dating back to 1919.
The brokerage has no account minimums. And it offers commission-free trading for many stocks. But note that it charges a small fee for stocks below $2 per share. Something to keep in mind as you search for apps for penny stocks.
The app is straightforward but packed with features like charting and company data.
3. Interactive Brokers
The firm has a minimum account requirement of $10,000. So if you have a small account, this may not be the right app for penny stock trading. But it does have competitive rates and tiered-plan options.
The app is packed with features like trading a diverse range of products such as futures, options, and stocks. Interactive Brokers might be a good pick if you have trading experience and you need a heavy-duty broker.
Robinhood has become a big name in the past few years by introducing commission-free trading and targeting millennials as a customer base. But check the news and you’ll see this firm has its share of scandals.
If you’re a brand-new new trader, it could be an OK app to help you get the lay of the market. But once you move past that stage and become a more serious trader, there are better brokerages out there.
The Robinhood app is simple and easy to use, with no account minimums account size and commission-free trades for certain order types. But you can’t trade all stocks. Do your homework before you pick this app for penny stocks.
E-Trade is a well-known powerhouse in the stock brokerage industry, with a history dating back to 1982.
The company caters to just about every type of traders, from beginners to advanced.
The firm doesn’t have a minimum account requirement and it offers commission-free trading on certain order types.
The firm offers a few different brokerage apps, which cater to different types of traders. There’s a standard app for more conventional investors and a “Power” app for more advanced and active traders.
TradeStation is another reputable brokerage firm that caters to more serious traders.
It requires a minimum account of $500 and has reasonable brokerage rates. This can be a great app for penny stock trading if you’re trying to grow your trading and be more active.
The app is equipped and suitable for serious traders but not as easy to use as other brokerage apps.
Fidelity is an established financial company with a history dating back to 1946. The company offers a huge range of financial services: life insurance, mutual funds, bank accounts, and stock brokerage services.
Fidelity has no minimum account requirement and offers commission-free trading for certain order types.
The app is easy to use and has a wide range of features. This could be a solid choice for beginners and a good app for penny stocks.
8. Charles Schwab
Charles Schwab is a famous financial firm that provides a wide range of financial services. It’s been around since 1971.
Schwab doesn’t have a minimum account requirement. And like many of the other firms, it offers commission-free trading on certain order types.
How’s this app for penny stocks? It’s easy to use, and Schwab is one of the top brokerages to trade the small OTC stocks and pink sheets. I’d say this is a great choice for a beginner to an intermediate trader.
Bloomberg is a huge financial news company with an online portal and a global TV network. It even produces the advanced computer terminals that traders at banks and hedge funds use.
The Bloomberg app provides access to comprehensive business, stock market, and finance news from across the globe. You can view market data, make a watchlist, listen to a podcast, and even watching Bloomberg TV from within the app.
This may not be an app for penny stocks per se, but it’s great for keeping up with major financial news.
10. Yahoo Finance
Yahoo Finance is one of the more beginner-friendly and accommodating finance news portals.
Its app allows you to get real-time stock information and news stories from across the web. You can also analyze certain stocks, bonds, futures, and more.
This is a great app if you want something a little less daunting than the Bloomberg app.
11. Financial Times
The Financial Times (FT) is a world-famous, respected financial newspaper. For over a decade, many of the world’s stockbrokers and financial professionals have started their day reading FT.
With the FT app, you have access to a wide variety of historical and breaking financial news. You can save articles of interest, as well as monitor certain stocks and other financial products.
A great way to use this app is to check the major headlines and themes each day. These stories are often what the overall market will be thinking about.
If you’re looking for hot news that can really move stocks, you gotta check out STT’s new tool. Just check out how much Tim Sykes LOVES it:
Twitter is a social media app that is based around users interacting with each other via short text-based messages.
It’s not an app for penny stocks alone — but it is a great way to follow your favorite traders, news sources, and financial personalities. I think it’s a fantastic asset for interacting with other traders and seeing what people are thinking. I personally use Twitter every day.
Keeping a trading journal is a great habit to develop if you want to progress as a trader as quickly as possible. I think Evernote is the perfect companion for doing this.
Evernote is a comprehensive note-taking program that allows you to quickly collect information from the web to save into your account. You can also write and edit text, keep checklists, and so much more.
I’d advise keeping a collection of your most interesting chart patterns inside Evernote, as well as writing a daily trading journal with your market observations. These simple daily activities are super powerful and could skyrocket your trading skills. So if you’re adding to your list of apps for penny stocks, this is a good choice to help you trade smarter.
Headspace is a meditation app. How does that fit into apps for penny stocks?
Look, I know that meditation is sometimes seen as a bit weird and woo-woo, but it’s an amazing activity to help you to think clearer and get your mind focused. When you break it down, meditation allows your mind to rest for a bit. And when you resume your day, you’re focused and ready to work full speed.
I was originally skeptical of meditation, but after I tried it, I quickly saw the benefit.
Personally, I try to meditate every day, and the headspace app can provide a beginner-friendly option to help get started.
15. Google Sheets
One way to keep all that data is by using spreadsheets.
Google Sheets is free to use, and this cloud-based spreadsheet software that has most of the functionality you find in Microsoft Excel.
With Google Sheets, you can access your files across your PC, phone, tablet, or whatever other devices you use.
Trading on Your Phone vs. Trading on Your PC or Laptop
The mobile technology we have today is absolutely awesome, and it’s amazing being able to go out to lunch, or pick the kids up from school and potentially put on a trade.
Trading involves analyzing and watching a large number of stocks, waiting for the right moments to buy and sell, and always keeping on top of a mountain of information.
Doing all of this from the little seven-inch phone in your pocket isn’t exactly ideal.
When you use a full-size computer or a laptop, you can use better software, view more detailed charts, and analyze information more efficiently.
I recommend that you use apps for penny stocks on your phone to check the news, stock prices, and maybe manage a trade here and there.
What Trading Software Should You Use On Your PC?
In the world of serious trading, we use a type of software called a trading platform.
Trading platforms generally come equipped with the tools you need to find, analyze, and make the awesome risk/reward trades that fit your strategy.
Depending on what you trade — whether penny stocks, large-caps, futures, etc. — it’s important to pick the trading platform best suited to your needs.
If you trade penny stocks, you gotta check out StocksToTrade. It’s a platform created by some of the world’s best penny stock traders. It’s designed to include the tools you need for the modern market.
StocksToTrade is a one-stop-shop. It has just about everything you need in one program. No more switching between different apps for penny stocks or trading sites when you have StocksToTrade.
It’s no mistake that many of the world’s best penny stock traders begin each trading day by loading up StocksToTrade. Come and see why and get your 14-day trial for just $7!
Top Apps for Penny Stocks: Conclusion
Ever since the iPhone was released, I’ve been a smartphone addict. I think it’s one of the greatest tools for managing day-to-day life in so many ways.
That’s especially true for trading. There are so many great apps for penny stocks and beyond that can help you trade better and smarter. It’s all about how you use the technology.
In the above list of 15 apps, I’ve got something for everybody. There are brokerages, news apps, and productivity apps. You can use all these apps for penny stocks or your preferred trading strategy.
Try them out and see how it goes. Having a few on your phone can help you stay informed while you’re away from your trading laptop. And I recommend you do most of your analysis and trading on your laptop…
… and make sure to use a premium trading platform like StocksToTrade!
How many trading apps do you access each week? What would you add to this list? Tell me in the comments below!