Ask anyone and what they will surely say is that when it comes to life decisions, earnings have a huge role since money really makes the world go round. If we look at it from that perspective, we simply cannot ignore the fact that there are so many people who already invested their money in stocks and that the vast majority are interested but are yet to dip their toes into the stock trading world. It is one of the oldest, safest, and proven ways to earn some extra bucks, and it has plenty of options but, every option comes with certain risks. No one became a millionaire overnight, and it is the first rule to follow-trade smart.
Where to start?
For those who are not familiar with the terminology and how things work, thorough research is a must as this market can be cruel sometimes. The second thing is to determine the budget and stick to it, as it is the best way to avoid losing more than you want. After that, practice makes it perfect, and the same is with stock trading. Luckily, there are plenty of demos and free trading guidance that many websites and trading apps provide, where one can learn everything they may need for when they actually start.
The importance of stock trading apps and software
All of this mentioned so far is just the beginning, and only after you have done all these things can you say that you are ready to start investing in stocks. Of course, the next part is also complex and requires great dedication and time, which is why choosing the best app and software to start is crucial. There are two options to choose from, and you can either check stockapps.com and get the best and detailed reviews on these apps or continue reading as we will further discuss this topic and present the top FIVE stock trading apps and platforms for beginners.
Let’s start with the one for absolute beginners. This one is available for both iOS and Android users, and it is ideal for those who want to start small and get a better grasp of how it all works. What makes Acorns stand out from the rest is the monthly fee, which is not that high as it is for other similar apps. It is great for young adults, as they will get a better insight into stock trading, and their Acorns family plan will even help you in managing your money more efficiently.
Another great app for beginners who want to start trading without complicated options is Public.com, and it has many satisfied users around the world. There is no commission for using this app, so it is suitable even for younger generations, and since it looks like investing in social media, many are interested in trying it. Its great community can be very helpful for new users because everybody is willing to help them learn the basics and tell them some advice on trading. The great thing is the $10 bonus that we get when we decide to sign up, and we can use this money to start our trading journey.
3. Merill Edge
Sometimes we need help to start trading, and the best solution is to find a Trading app that will provide us an adviser. One of the best apps that provides us an adviser and the perfect customer support is Merill Edge, and by deciding to use this app, we will have a great consultant available 24/7. This app allows clients to have a deep insight into their assets and learn how they work for them. There are many benefits For people with more than $100,000 on their accounts, and this app guarantees that their money will be safe and secure. It is also possible to import any account from every financial institution, which provides a better look into our financial condition.
4. SoFi Invest
SoFi Invest is a great application because of many reasons, and one of them is definitely the fact that we can use it on every device we want. Besides that, there are no commissions or the minimum amount of money that we need to have on our account, so it is suitable even for beginners. SoFi Invest gives us two options – we can trade as active traders or, we can wait for an automated investing tool to do all the job for us. No matter which option we choose, this app is great for our investments and investment accounts since we have a lot of options to invest our money. An automated trading option allows us to finish other important tasks while it is trading our stock for us.
We are never too young to start making our own money, and the Stash app is helping young investors and even those under 18 years with custodial accounts. Stash offers us a full suite of products, and there are no commissions for trading, but there is a small monthly fee for using it. Stash allows us to check our account whenever we want and gives us a lot of investing options. Besides that, we have two options for trading, and it is up to us to decide if we want to be active traders or automate our investments and let the automated tool invest for us.
The bottom line
As you can see, there are plenty of things to consider when choosing the right app or platform, which is, once again, doing much-needed research in advance can be so helpful. There is no point in trying your luck in stocks as if someone is not well-prepared, they are more likely to lose than gain money. Stock trading can be quite profitable, and one can even make a career out of it, but only when one dedicates time and effort to it. Remember, a good stock trader is a smart and educated stock trader.