With the rise of Robinhood, mobile trading is becoming more popular than ever.
But when people think of day trading — a lot of people still imagine big screens and complex software. But, traders sometimes need to trade on the go.
So what do they use? And are these solutions a substitute for a trading computer? Read on to find out!
Table of Contents
- 1 What Is Mobile Trading?
- 2 How Mobile Trading Works
- 3 Top 5 Mobile Trading Apps for Stock Research
- 4 Top 10 Major Mobile Trading Apps of 2021
- 5 How To Choose the Best Stock Trading App for You
- 6 What’s the Best Mobile Trading Platform?
- 7 Mobile Trading: The Bottom Line
- 8 One Platform. One System. Every Tool
What Is Mobile Trading?
Mobile trading is trading on a device other than a computer (other than a laptop, too). It’s done using apps on a touch-based device with a mobile operating system (OS). We’ll look at apps on iOS and Android — with a bigger focus on the former (I’m an Apple fan for life).
How Mobile Trading Works
There are a ton of mobile trading apps out there. And you can run all of them in the palm of your hand.
There are different types of apps — some are more into research, others are actual brokers you can trade on, and others are charting apps. Today we’ll explore all those categories. These are all available on the iPhone, and most also have Android versions.
Advantages of Mobile Trading
The biggest advantage is trading on the go. A lot of traders use multi-monitor PCs to trade, or they might use their laptops.
But the big advantage of mobile trading is that you can trade from nearly anywhere and on the go. So, if there’s one amazing play you’re watching, you don’t have to miss it just because you left home!
Disadvantages of Mobile Trading
That being said, there are also disadvantages to mobile trading. Trading computers are beefy for a reason…
Mobile devices have technological limitations, especially when it comes to trading. This includes:
- Less computing power to run software
- Software limitations
- Inability to run multiple programs at the same time
- Love lots of charts? Sorry, one chart at a time here
Trading on the go also means environmental distractions. On top of that, your internet connection might be spotty when you’re on the move.
OK, let’s check out some of the top mobile trading apps of 2021, in no particular order! (Plus check out my favorite at the end of the list.)
Top 5 Mobile Trading Apps for Stock Research
Yahoo has a long history in the finance department. Almost every trader has heard of it.
The search engine turned financial site is a must-have app for mobile trading. It features charts and news. It offers detailed quotes and charts for most companies.
While its charting isn’t as advanced as other offerings, it’s a decent interface overall. The best part about it is that it’s the O.G.
Bloomberg is a financial news site. What makes it so respected in the trading community is the company founded the renowned Bloomberg Terminal.
No, you can’t trade on the Bloomberg app. But its credibility as a financial news source makes Bloomberg a strong part of this list.
Seeking Alpha is one of the top research sites many traders use. Now, in app form, it makes it easier to access on the move.
You can uncover plenty of quality research in the app — but you still have to do your due diligence. Since almost anyone can post, not all research is accurate. Still, a lot of traders look at the research posted on Seeking Alpha. While its focus is fundamental analysis, it might be a solid app to check out.
Like Seeking Alpha, Stocktwits has become an established community for stock research and analysis. Think of it like Twitter but for stocks. I can’t stand Twitter nowadays — which is why it didn’t make the list. (Plus, I can check Twitter buzz right from StocksToTrade.)
The traders on Stocktwits might be smarter than those on Twitter…
Who knew the cat gif social network for millennials would become a financial heavyweight?
Reddit has moved markets in 2021, and that’s no small feat.
There are many stock trading communities on Reddit. Users on Reddit form forums called subreddits. You can find stock picks from the now famous r/wallstreetbets or even r/pennystocks.
But there are plenty of other trading-related threads in the app. You’ll have to find ‘em yourself. Because it’s had such an influence on financial markets, traders might consider checking out this app.
Top 10 Major Mobile Trading Apps of 2021
Robinhood is likely the app with the least barrier to entry. It revolutionized retail trading by bringing zero-commissions trading to the masses.
While this app attempts to make trading accessible and is the easiest to use, not everyone is a fan. The broker has restricted trades (most notably during the GameStop craze) and crashed during periods of high volatility.
It allows users to trade stocks, ETFs, options, and cryptocurrency. While you can’t short or trade OTC stocks, its account minimum is $0. With its limited customer support, I can’t recommend using Robinhood if you’re a serious trader.
Webull has surprisingly solid charting on the go. It’s also a brokerage, and it was launched as a direct competitor to Robinhood. I think the charts here are superior to Robinhood’s (but StocksToTrade has my all-time favorite charts).
Webull also features advanced charting tools and indicators. You can short sell if you have a margin account here. The downside is the news feed here isn’t great. While I don’t recommend using Webull as your broker … I still prefer it over Robinhood if I had to choose.
TD Ameritrade Mobile
TD Ameritrade is one of the heavyweight brokers in the industry. It has a fairly solid reputation with robust features specifically targeted at investors.
And it has an account minimum of $0 and a massive variety of securities to trade — stocks, bonds, mutual funds, ETFs, options, futures, and forex. TD Ameritrade was acquired by Charles Schwab in late 2020, so there might be unexpected changes coming to the app in the future.
If you’re an active trader, this is the app you want from TD Ameritrade. You get all the perks of TD Ameritrade, but also more advanced features. There’s a greater focus on technical analysis features than its sister app.
It’s a solid choice for on-the-go traders. But, again, Charles Schwab acquiring the parent company might shake up this fairly solid app.
E-Trade Mobile is another popular brokerage app. Although E-Trade has recently been buggy, the app could still be a great choice for E-Trade clients on the go.
E-Trade features zero-commission trading for many trades and comes in two flavors…
The basic platform is E-Trade and the advanced platform is Power E-Trade. Power E-Trade has all the features of E-Trade along with advanced options and futures strategies. You get access to stocks, bonds, mutual funds, ETFs, options, and futures.
While the app itself is decent, the recent E-Trade service issues could make this a poor choice if you need to day trade on the go. If the brokerage becomes more reliable in the future, this app would earn a lot more praise.
Interactive Brokers has always been popular with penny stock traders. The app works well for charting and news. It’s one of my top brokers.
And if you use the desktop platform, I recommend getting the mobile app. Traders can trade using IBKR Lite to access zero-commissions trading. Advanced traders can upgrade to IBKR Pro to access more products and advanced features at the cost of paying commissions.
There’s no account minimum for IBKR Lite, but there is a monthly service fee for most traders using IBKR Pro. You get access to stocks, bonds, mutual funds, ETFs, options, futures, forex, and metals. So, if you’re looking for the biggest variety of securities to trade on the go — this could be the app for you.
Acorns works on the principle that spare change can grow into a great oak tree … or something like that. It rounds up your everyday purchases and deposits the difference into one of the many ETFs it offers.
It might be great for people who want to invest but can’t find the time or money for it. Acorns offers a hands-off approach to investing. Not my thing at all. The account minimum here is just $5 and there’s a monthly fee of $1–$3, depending on the account you choose.
Betterment is targeted toward investors. It aims to create custom investing plans for users depending on their goals.
It uses machine learning to create a diversified portfolio to minimize risk. You can’t trade stocks on Betterment, instead, it invests your capital into various ETFs.
Betterment seems to feature lower fees than typical financial advisors. But don’t just take my word for it. Do your research!
Stock Master is a versatile charting app. It is fairly full-featured for being a mobile app. You can customize the layout more than other apps.
If you need to keep watch on a few stocks, this is the app for you. You can customize it with multiple indicators and you can even backtest strategies on it.
It works best on higher-priced stocks, as it’s sometimes buggy with stocks under a dollar. It also doesn’t always show relevant news. But it’s a free app and additional features can be unlocked through in-app purchases.
So many traders have been begging for StocksToTrade Mobile for years. It’s been rumored to be in development … and now it’s finally here! This is by far the most anticipated mobile trading app for many serious traders.
You get access to powerful StocksToTrade scanners while you’re away from your computer. You also get the quality StocksToTrade news feed. Even sub-penny stocks load properly, which is an issue for some mobile apps.
The best part — you get the same clean and beautiful charts that traders enjoy on the desktop version. You can add indicators like VWAP too. Just because you’re stepping away from your computer doesn’t mean you gotta step away from StocksToTrade. Bring it with you, all in a shiny little package called StocksToTrade Mobile.
Quick note: STT Mobile is only available for iOS as of now. But the Android version is on its way!
Ver essa foto no Instagram
Making that much money on a dinky cellphone … it’s crazy!
Stop and think about it — I couldn’t have imagined it 20 years ago with my flip phone. The sheer accessibility of making trades like that from virtually anywhere shouldn’t be possible. But these days, that’s the potential traders have … if they’re dedicated and disciplined, of course.
How To Choose the Best Stock Trading App for You
Choosing the best stock trading app shouldn’t be difficult. The great thing about having so many mobile apps is that you have a lot to choose from. And you don’t have to pick just one. Try them all and see which you use the most.
Do you want to research the next meme stock before it pops off? Check out Reddit.
Do you want market insights from a trader renowned source? Bloomberg might be the app for you.
If you wanna be a more self-sufficient trader, the best place to learn is right here. I post articles like this as well as helpful videos multiple times a week. So make sure to check this blog often for new updates.
Want to turbocharge your knowledge? I coach up-and-coming traders in the SteadyTrade Team.
Don’t forget about charting apps! I highly recommend traders check out StocksToTrade Mobile. It’s got the amazing charts, scanners, and news feed that StocksToTrade users love … but on your mobile device.
As for actual trading apps, the choices are narrower. Of course, traders can use Robinhood — but if you’re serious about trading, you’ll need to upgrade.
What’s the Best Mobile Trading Platform?
It’s the one that works best for you and your device. Do your research and find what you like. My opinion is only that — my opinion. It means nothing if it doesn’t work for you or your trading style.
Can I Start Mobile Trading With $100?
Yes, you can! Although, you’ll be limited.
Mobile traders can use E-Trade Mobile or Interactive Brokers (with an IBKR Lite subscription). Webull is a contender if you simply like the simplicity of brokers like Robinhood. But remember, most big brokers don’t have account minimums anymore, so there’s no need to avoid them.
Before you fund your account, consider paper trading. This is how you can dip your toes into trading but not get your feet wet.
If you don’t have the capital right now, paper trading lets you experience and learn from the market with no risk. And if you’re saving up to get your sea legs with a StocksToTrade subscription, paper trading is a great way to learn. There’s no point in sinking your $100 into the stock market if you’re brand new to trading.
Mobile Trading: The Bottom Line
With mobile trading, you have access to a variety of apps. A lot of them are free and don’t need fancy computer gear to run. If it can run Instagram … it can run mobile trading apps. That makes trading super accessible to the masses, and I love it!
There are different types of apps. Some are more into research, others are actual brokers you can trade on, and others are charting apps. Try them out and see what works for you. Finally, make sure to check out StocksToTrade Mobile and leave a review, now that it’s finally out!
Do you use any mobile trading apps? Have you tried StocksToTrade Mobile? Leave a comment below!