Top 10 Best Trading Apps for Beginners to Boost Your Investment Portfolio

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As a beginner investor, choosing the right trading app can significantly impact your investment portfolio. With the rise of mobile app trading, beginner-friendly trading apps have become increasingly popular. When selecting the best trading apps for beginners, it’s essential to prioritise a user-friendly interface and virtual trading options.

Virtual trading is an excellent feature that allows beginner investors to practice trading in a simulated environment without risking their money. Additionally, it can help investors develop an investment strategy and diversify their portfolios.

The top-rated 10 stock trading apps for beginners are:

1. Robinhood
2. TD Ameritrade
3. E*TRADE
4. Fidelity Investments
5. Charles Schwab
6. Stash
7. Acorns
8. Webull
9. Betterment
10. M1 Finance

However, beginner investors can develop a sound investment strategy and achieve their financial goals by prioritising a user-friendly interface, virtual trading options, low fees, real-time market data, investment diversification, wealth management, and asset allocation.

Criteria for selecting the best trading apps for beginners

Best trading apps for beginners are essential for novice investors who want to start their investment portfolio easily. These mobile apps provide a user-friendly interface and access to a trading platform, making it easier for beginner investors to learn about the stock market and make informed investment decisions. However, with many trading apps available, selecting the best one can take time and effort.

User-Friendly Interface

A user-friendly interface is one of the essential criteria when selecting the best trading apps for beginners. The mobile app should be intuitive and easy to use, with clear navigation and simple instructions. A clean and organised interface helps beginner investors to understand the app’s features and functions and avoids confusion.

Virtual Trading or Paper Trading

Virtual trading or paper trading is an excellent feature for beginner investors to learn about the stock market and practice trading without risking real money. Choosing an app with a virtual trading feature is essential, allowing users to experience the app’s trading platform and test their investment strategy before investing real money.

Low Fees

Low fees are essential for beginner investors who want to keep their investment costs low. Choosing an app that offers commission-free trading, low fees for stock trades, and no account minimums are important. By keeping investment costs low, beginner investors can start building their investment portfolio without incurring high fees.

Investment Options

The app should offer various investment options, including stocks, exchange-traded funds (ETFs), and mutual funds. A diverse selection of investment options helps beginner investors to build a well-diversified investment portfolio, reducing the risk of loss.

Market Data and Real-Time Quotes

The app should provide real-time market data and quotes to help beginner investors make informed investment decisions. Access to real-time data on stock prices, market trends, and financial news helps beginner investors stay up-to-date on the stock market and make timely investment decisions.

Investment Strategy and Advice

The app should provide investment strategy and advice to help beginner investors make informed decisions. Investment strategies should be tailored to the individual’s financial goals, risk tolerance, and investment timeline. The app should offer personalised advice and tools to help beginner investors build a well-diversified investment portfolio.

Investment Diversification and Asset Allocation

Investment diversification and asset allocation are crucial for beginner investors to reduce the risk of loss. The app should offer tools and resources to help beginner investors build a diversified investment portfolio with a mix of stocks, ETFs, and mutual funds. Asset allocation tools help beginner investors to allocate their investment portfolio based on their financial goals, risk tolerance, and investment timeline.

Therefore, by considering these criteria, beginner investors can choose a mobile app that meets their investment needs and helps them build a well-diversified investment portfolio.

Wealth management features

Wealth management features are essential for beginner investors who want to manage their investment portfolio effectively. These features provide a range of tools and services that help investors make informed investment decisions, optimise their investment portfolio’s tax efficiency, and maintain a well-diversified investment portfolio. When selecting the best trading apps for beginners, it is essential to consider the wealth management features offered by the app to ensure that it meets the investor’s investment needs.

Top 10 best trading apps for beginners

#1 Robinhood  

Rating: 2.7 stars

If you’re a beginner investor, you may be looking for the best trading apps to start building your investment portfolio. The Robinhood trading app is a mobile app that offers a user-friendly interface and virtual trading to help you get started in the stock market.

One of the key features of Robinhood is its low fees and commissions, making it an attractive option for those looking to invest without breaking the bank. This trading platform also offers real-time quotes and market data to help you make informed investment decisions.

Robinhood allows you to access various investment options, including ETFs, mutual funds, and stocks. The app also offers investment diversification and wealth management tools to help you achieve your financial goals. For beginner investors, Robinhood offers financial education and investment advice to help you develop your investment strategy. Additionally, the app provides paper trading to allow you to practice trading without risking real money.

Pros:

• user-friendly interface
• low fees
• investment diversification tools

Cons

• limited investment options
• need more research tools.

According to user reviews and ratings, Robinhood is a top-rated stock trading app for beginners with paper trading and a beginner-friendly trading app for investing in ETFs. It is among the best investment apps for beginners without a brokerage account. With virtual trading, real-time quotes, and various investment options, Robinhood can help you build your investment portfolio and achieve your financial goals.

#2 TD Ameritrade

Rating: 3.9 stars

TD Ameritrade’s mobile trading app allows investors to manage their investment portfolios. The app’s user-friendly interface makes it easy for beginners to navigate. It offers a range of investment options, including stocks, ETFs, and mutual funds, allowing investors to diversify their portfolios.

This trading app offers beginner investors a range of features and benefits. One of the standout features is virtual trading, which allows users to practice trading with virtual money before committing to real funds. This is an excellent feature for those new to the stock market who want to gain experience before investing real money.

The app also offers real-time market data and quotes, allowing users to make informed investment decisions. It also provides financial education resources, including articles and videos, to help investors learn about the investment strategy, asset allocation, and diversification.

Pros: 

• commission-free trading
• virtual trading
• a wealth of financial education resources

Cons

• occasional technical issues
• slow order execution.

TD Ameritrade’s trading app charges lower fees and commissions than other trading platforms. It offers commission-free trading for stocks, ETFs, and options. However, mutual funds may have transaction fees, so investors should check the app’s fee schedule before investing.

TD Ameritrade’s trading app has received positive user reviews and ratings. Users praise the app’s user-friendly interface, comprehensive financial education resources, and low fees. However, some users have criticised the app’s slow order execution and occasional technical issues. If you’re a beginner investor looking for the best trading apps, TD Ameritrade’s trading app is worth considering. 

#3 E*TRADE

Rating: 3.9 stars

E*TRADE is a popular mobile app for beginner investors looking to start building their investment portfolio. The app has a user-friendly interface, making it easy for beginners to navigate and understand. It offers virtual trading, which allows users to practice and learn investment strategies without risking real money. E*TRADE provides many investment options, including stocks, ETFs, and mutual funds.

E*TRADE provides real-time market data and quotes, enabling users to make informed investment decisions. Additionally, the app offers investment diversification and asset allocation, which are crucial for long-term investment success. E*TRADE also provides financial education and investment advice to help users develop an investment strategy that aligns with their financial goals.

E*TRADE charges low fees for its trading services, making it an attractive option for beginner investors starting to build their investment portfolios. The app also offers commission-free trading for stocks, ETFs, and options.

Pros

• low fees
• real-time market data
• investment diversification
• financial education and advice

Cons

• There are better options for investors who prefer a more hands-on investment approach.

The E*TRADE trading app has received positive user reviews, with many praising its user-friendly interface and virtual trading feature. Users also appreciate the app’s low fees and commission-free trading options. The ETRADE trading app is an excellent choice if you’re a beginner investor looking for an easy-to-use trading platform.

#4 Fidelity Investments

Rating: 4.1 stars

Fidelity Investments is a well-known name in the financial world, and its trading app is designed to help beginner investors start their journey. The app provides a user-friendly interface, virtual trading, and investment options to help users learn about the stock market and develop an investment strategy.

Fidelity Investments offers a range of features and benefits for beginner investors. Users can access market data and real-time quotes, making it easy to track investments and make informed decisions. The app also provides financial education and investment advice, making it an excellent resource for those just starting. 

One of the standout features of the Fidelity Investments trading app is its investment portfolio management tools. Users can easily diversify their portfolios with ETFs and mutual funds, and the app also offers wealth management and asset allocation tools to help users achieve their financial goals.

Pros:

• User-friendly interface and virtual trading features
• Investment diversification tools and portfolio management
• Low fees and commissions
• Commission-free trading for ETFs
• Financial education and investment advice

Cons:

• Limited paper trading options
• Some users have reported slow customer service response times

Fidelity Investments offers low fees for trading and investing, making it an affordable option for beginners. Additionally, the app does not require a minimum investment to get started, making it accessible to investors of all levels. The trading app has received positive user reviews, with many praising its user-friendly interface and virtual trading features. Users appreciate the app’s investment diversification tools and the ability to track their investments easily. Thus, for beginner investors looking for a reliable trading app, the Fidelity Investments trading app offers a range of features and benefits to help users get started on their investing journey.

#5 Charles Schwab

Rating: 3.7 stars

The Charles Schwab trading app is a mobile app that allows users to manage their investment portfolio. The app has a user-friendly interface and provides virtual trading to help investors learn how to invest in the stock market. 

One of the main benefits of the Charles Schwab trading app is that it offers low fees and commissions. The app does not charge any fees for account opening or maintenance.

Pros:

• Beginner-friendly 
• Offers virtual trading to help investors learn how to invest in the stock market.
• Investment options, including stocks, ETFs, and mutual funds.
• Provides market data and real-time quotes 
• The investment strategy and asset allocation
• Low fees and commissions

Cons:

• Not be suitable for advanced investors.
• Not be the cheapest option for investors. 

The Charles Schwab trading app has received positive user reviews and ratings. Users have praised the app’s user-friendly interface, virtual trading feature, and low fees. Users have also appreciated the app’s investment tools, such as asset allocation and investment strategy, which have helped them achieve their financial goals.

An app is a great option for beginner investors who want to manage their investment portfolio on the go. If you’re looking for the best trading app for beginners, the Charles Schwab trading app is worth considering.

#6 Acorns

Rating: 4.6 stars

Acorns is one of the best trading apps for beginners who want to start investing in the stock market. The mobile app provides a user-friendly interface with virtual trading options, allowing beginner investors to test their investment strategies without risking real money. It offers a range of features and benefits for beginner investors. The app allows users to invest their money automatically by rounding up their daily purchases to the nearest dollar and investing the difference. This investment strategy is ideal for beginner investors who want to start investing with little capital.

The investment portfolio in the Acorns app is diversified, allowing users to invest in ETFs and mutual funds. Additionally, Acorns offer financial education and investment advice through its blog, which is a great resource for beginner investors who want to learn more about investment strategies.

Pros:

• User-friendly interface
• Virtual trading options
• Investment options, including ETFs and mutual funds
• Low fees and commission-free trading

Cons:

• Automatic investment strategy may not suit everyone
• Lack of control over investment options

Acorns trading app has received positive reviews and ratings from its users. Many users appreciate the app’s user-friendly interface and virtual trading options. Users also appreciate the app’s low fees and investment diversification options. However, some users have raised concerns about the app’s automatic investment strategy and need more control over investment options. 

Moreover, the app charges a £1 monthly fee for accounts under £4200 and a 0.25% annual fee for accounts over £4200. Acorns do not charge any commissions for trades, making it a commission-free trading app.

#7 Stash

Rating: 41. Stars

Stash is a beginner-friendly trading platform that provides a brokerage account for users to invest in the stock market. The app offers a paper trading feature that allows users to practice trading with virtual money before investing real money. It also offers wealth management features that assist users in asset allocation and achieving their financial goals.

The Stash trading app has a user-friendly interface that is easy to navigate, making it ideal for new investors. This feature is especially useful for beginner investors new to the stock market. 

Pros:

• User-friendly interface
• Virtual trading feature
• Investment options, including ETFs and mutual funds
• Low fees and commissions
• Financial education resources
• Wealth management features

Cons:

• Monthly fee for accounts with less than $5,000
• Charges a fee for ACH transfer

The Stash trading app offers low fees and commissions, making it an affordable option for beginner investors. The app charges £0.42 for every £85 ACH transfer. Besides, Stash has received positive user reviews and ratings. Users have praised the app for its user-friendly interface and wealth management features. Users have also appreciated the app’s financial education resources and low fees.

#8 Webull

Rating: 4.7 Stars

The Webull trading app is a popular mobile app designed to help beginner investors achieve their investment goals. With its user-friendly interface and virtual trading feature, the app is an excellent choice for those new to the investing world. The app offers many investment options, making it an ideal tool for staying up-to-date with the stock market. One of its standout features is its virtual trading feature, allowing users to practice trading without risking real money. This feature is particularly useful for those new to investing who want to learn more about investment strategies and portfolio diversification.

Pros:

• User-friendly interface
• Virtual trading feature
• Low fees and commissions
• Access to real-time quotes and market data
• Wide range of investment options

Cons:

• Technical issues reported by some users
• Fees associated with accessing market data and transferring funds

The Webull trading app offers commission-free trading for stocks, ETFs, and options. However, there are some fees associated with using the app. For example, users may be charged a small fee for accessing market data and real-time quotes. Additionally, fees may be associated with transferring funds to and from the app. Besides, the trading app has received positive reviews and ratings from users. Many users praise the app’s user-friendly interface, virtual trading feature, and low fees. However, some users have reported experiencing technical issues with the app, such as delayed quotes and slow loading times.

Thus, the Webull trading app is one of the best for beginners and is worth considering for anyone looking to start investing.

#9 M1 Finance

Rating: 4.3 Stars

M1 Finance is a mobile app designed to help beginner investors build their investment portfolios by providing them with the necessary investment tools, financial education, and investment advice to make informed decisions. The trading platform is available for both iOS and Android devices. It offers a virtual trading feature that enables investors to test their investment strategy before committing to their funds.

M1 Finance offers many features and benefits, making it an ideal choice for beginner investors. Investors can set up their investment portfolio and customise it based on their financial goals and risk tolerance, while the asset allocation feature helps to manage their portfolio efficiently. Additionally, the paper trading feature allows investors to practice their investment strategies without risking their funds.

Pros:

• User-friendly interface
• Low fees
• Investment diversification options
• Paper trading feature
• Real-time quotes and market data
• ETF and mutual funds offerings
• Asset allocation feature
• Virtual trading option

Cons:

• Limited investment options
• No access to individual stocks
• Limited research tools

M1 Finance has received positive user reviews, with many praising the app’s user-friendly interface, low fees, and investment diversification options. Moreover, M1 Finance does not charge any commissions or fees on trades, making it a great option for investors who want to keep their costs low. However, the app does have some fees for additional services, such as a £16 fee for wire transfers and an £8 fee for account inactivity. Therefore, the app provides a solid foundation for beginner investors to build their investment portfolios.

#10 Betterment

Rating: 4.5 Stars

Betterment is one of the best trading apps for beginners because of its user-friendly interface and virtual trading feature, which allows new investors to practice trading without risking their money. Betterment also provides financial education resources to help you learn more about the stock market, investment strategies, and wealth management. The platform charges a flat annual fee of 0.25% of your investment portfolio, which is significantly lower than the fees charged by traditional brokerage firms. Betterment also offers commission-free ETF trading, real-time quotes, and market data to help you make informed investment decisions.

Pros:

• User-friendly interface
• Virtual trading feature
• Low fees
• Variety of investment options 

Cons:

• Lack of advanced trading tools
• Occasional issues with customer service

Betterment charges are lower than the fees charged by many traditional brokerage firms, making it an attractive option for beginner investors looking for affordable investment options. Moreover, user reviews and ratings of Betterment are generally positive, with many users praising the platform’s ease of use, low fees, and variety of investment options. However, some users have reported issues with the platform’s customer service and the need for advanced trading tools. So, if you’re looking for a beginner-friendly trading app to help you achieve your financial goals, Betterment may be the right choice.

Conclusion

Choosing the right trading app is essential if you’re a beginner investor. The best trading apps for beginners offer a user-friendly interface, virtual trading, low fees, and real-time market data. Some top-rated stock trading apps for beginners with paper trading and virtual trading features include Robinhood, TD Ameritrade, and E*TRADE. For beginner-friendly trading apps focused on investing in ETFs, consider M1 Finance and Betterment. If you need a brokerage account, apps like Stash and Acorns are worth checking out. Whatever investment strategy you choose, having a solid financial education and setting realistic financial goals is important. Remember to research and choose the investment tools that work best for you.

FAQs

Q. What is the best app for trading stocks as a beginner?

There are several good apps for trading stocks as a beginner. Robinhood, Fidelity, and ETRADE are all popular choices. Each has its strengths and weaknesses, so it’s worth exploring them to find the one that suits you best. Robinhood is known for its simplicity and easy-to-use interface, while Fidelity offers extensive research tools and educational resources. ETRADE offers a range of investment products and a user-friendly mobile app. Whatever app you choose, start with small investments and take the time to learn the basics of investing before diving in.

Q. Which trading app is best for beginners?

For beginners, choosing a trading app that is easy to use and offers educational resources to help them learn is best. Some good options include Robinhood, TD Ameritrade, and Charles Schwab. Robinhood is particularly popular with new investors due to its simple interface and commission-free trading. TD Ameritrade offers a comprehensive education centre with articles, videos, and webinars to help you learn the basics of investing. Charles Schwab provides access to a range of investment products and offers excellent customer service.

Q. What is the easiest trading app for beginners?

Robinhood is widely regarded as the easiest trading app for beginners. Its simple and intuitive interface makes buying and selling stocks, options, and cryptocurrencies easy. Additionally, Robinhood does not charge commissions for trades, which can be particularly attractive to new investors who may need more capital to invest.

Q. Which app is best for share trading for beginners?

For beginners interested in share trading, choosing an app that provides access to a wide range of stocks and offers educational resources to help you learn about the stock market is important. Some good options include Robinhood, TD Ameritrade, and ETRADE. Robinhood is popular for its simplicity and commission-free trades, while TD Ameritrade and ETRADE offer a range of investment products and research tools.

Q. What is the best forex trading app for beginners?

Forex trading can be complex, so choosing a trading app with educational resources and a user-friendly interface is important. MetaTrader 4 and 5 are popular options for forex trading, offering a range of features and tools for beginners and experienced traders alike. Other options include Plus500 and eToro, which offer social trading features that allow you to see and copy the trades of successful traders.

Q. Which is the best free trading app for beginners?

Robinhood is widely regarded as the best free trading app for beginners. It offers commission-free trading for stocks, options, and cryptocurrencies, making it an attractive option for new investors who may not have large amounts of capital to invest. Robinhood’s simple and intuitive interface makes buying and selling investments easy.

Q. What is the best stock trading app for beginners?

There are several good stock trading apps for beginners available in the market, and the best one will depend on an individual’s preferences and requirements. However, some top stock trading apps for beginners include Robinhood, Webull, and TD Ameritrade’s think or swim. Robinhood is an excellent option for a simple, user-friendly app with zero commission trading. Webull offers commission-free trading, research tools, and a virtual trading platform to practice. TD Ameritrade’s think or swim is great for those who want access to a more advanced trading platform with a wide range of features and educational resources. It is essential for beginners to choose a stock trading app that is easy to use, offers a good range of investment options, and provides educational resources and customer support.

Q. What is the best app for virtual trading for beginners?

Virtual trading is an excellent way for beginners to practice trading without risking real money. Several apps offer virtual trading platforms, and the best one for beginners will depend on their needs and preferences. Some top virtual trading apps for beginners include Investopedia’s Stock Simulator, TD Ameritrade’s think or swim paperMoney, and Wall Street Survivor. Investopedia’s Stock Simulator is an excellent option for those who want a simple and easy-to-use platform with no account registration required. TD Ameritrade’s think or swim paperMoney is great for those who want a more advanced platform with real-time data and access to options trading. Wall Street Survivor offers a variety of educational resources and tools, including courses and trading contests, to help beginners learn the ropes of trading.

Q. Which app is best for day trading for beginners?

Day trading is a challenging and high-risk form of trading that requires a lot of skill and knowledge. It is not recommended for beginners. However, if you want to get into day trading, you should choose an app with advanced features, real-time data, and fast execution speeds. Some top apps for day trading for beginners include Interactive Brokers, TD Ameritrade’s think or swim, and TradeStation. Interactive Brokers offers advanced trading tools and low commissions, making it a great option for active traders. TD Ameritrade’s think or swim offers a variety of advanced features and a customisable platform. TradeStation is known for its fast execution speeds and professional-grade trading tools, making it a good choice for active traders who want to trade frequently.