Nowadays, the development of technology has provided benefits for many people, especially for people who are interested in being able to invest. There are lots of best trading apps for beginners that are perfect for investors. Of course, the features and services are also very easy to understand.
Because of that, anyone now has the opportunity to start investing. Then, what are the best apps and are suitable for beginners? Follow the explanation below.
Best 5 Trading Apps For Beginners
1. Webull
Webull is a FinTech startup that allows customers to trade financial commodities such as stocks and exchange-traded funds (ETFs) for free. It means, without paying fee or it does not charge any commission.
They make money by investing funds in payments for order flow, subscription fees, short selling fees, and also margin on interest paid. No wonder, this app is a great option for beginner traders who are still learning how the market works.
2. Betterment
This is one of the best trading apps for beginners. It is because most of the traders can use this platform to buy fractional shares of index fund ETFs, such as the S&P 500 in taxable accounts.
This service also does not allow traders to invest in individual stocks. It will automatically place the deposit into a fraction of an ETF index fund that aligns with their portfolio goals.
The features of this platform make it one of the best apps for beginners. It shows when it is most suitable for investors who want to diversify instantaneously when they make contributions to their accounts.
3. Robinhood
If you want to look for the right application to do some investments, then Robinhood is the answer. It is easy to use and has a simple user interface, so everyone even beginner could use it easily. You can choose any kind of investments, such as stocks, cryptocurrencies, or options with no contract fees.
It also has many advantages, from having low trading costs, easy access to fractional shares and cryptocurrency offerings, also Good cash management and recurring investment features. This will be a good choice for everyone who is starting to invest their assets.
4. Public.com
Allowing trading and ETFs, Public.com is an app for beginners that targets Millennials and Gen-Z. Especially for those who have adjusted their senses to social media and have an interest in investing in the stock market.
This app is not using the same system as the Robinhood did, which by monetizing Payment for Order Flow (PFOF), or taking bribes from clearinghouses to route trade to them. Instead, they are now depending on other income streams.
5. SoFi Invest
SoFi Invest allows traders to place trades and ETFs, in addition to investing in cryptocurrencies. The service offers the ability to trade actively or reversely, and let its automated investing tools take over robo-advisors. Hence, this application can be a good place to keep investment accounts of beginner traders.
That's all recommendation of best trading apps for beginners that offer many advantages. Make sure to read reviews and testimonies before trying to invest in it. Then, you can choose it depends on your needs.