Not long ago, human stockbrokers were the default way people did their investing. These stockbrokers would help execute buy and sell orders for the user. Fast forward to today and trading apps have made trading stocks, bonds, and other securities practically effortless.
Mobile phones have quickly become an integral part of modern life. It seems as if everyone has become accustomed to doing almost everything on their devices. It was only a matter of time for you to be able to start trading on the go.
In this guide we'll unpack the best stock trading app for beginners Reddit recommends. No longer does the beginner investor need to feel left out. Keep reading to see what we included in our list.
Our search for the best trading app for beginners from Reddit begins with Fidelity. Users will love the fact that Fidelity charges no fees for stock trading. The investing app also supports fractional share buying and dividend reinvestment. In addition to this, there is also a large stock catalog with extended stock trading hours. If you have a Fidelity card, you'll enjoy the 2% cash back and monthly rewards directly into your brokerage accounts.
When signing up, you'll receive a cash bonus.
Redditors agree that Schwab is a great beginner stock trading app for its ease of use, efficiency, and low fees.
When performing trades, you'll never be left empty-handed. Schwab offers excellent customer support with plenty of branches to get your issues sorted out.
When searching for the best stock trading app for beginners Reddit recommends you can't go wrong with Robinhood. One reason is that the investing app became the first of its kind to offer commission-free stocks.
Other trading apps took notice and had to adopt this model to stay relevant.
You can also make ETF, penny stocks, and cryptocurrency trades.
Redditors love the app's clean, simple-to-use interface. Placing trades is no longer overcomplicated with Robinhood. The app is free to sign up for and offers a free stock for doing so.
Acorns make our best stock trading app for beginners from Reddit list for the early investor. It is geared towards minors and young adults who wish to start with a small amount on their investments.
Acorns positions itself as a beginner-friendly investing app due to its round-up feature. With tiny recurring contributions, this will grow into a larger portfolio.
You will be pleased to know that there is no account minimum either.
Acorn's robo-advisor micro-investing app charges a monthly fee. The account fee will be dependent on the subscription plan you sign up for. For example, there is Acorns Personal at $3/month and Acorns Family at $5/month.
Following in Robinhood's footsteps, M1 Finance offers commission-free stock and ETF trades. In addition to this, the investing app also provides auto stock trading. This is all according to your predetermined investment decisions via the robo-advisor.
Beginner investing isn't difficult with M1's recurring deposit feature.
M1 Finance is a one-stop shop for all your financial needs. You'll build wealth with its automated investments. With these investments, you'll have a diversified portfolio.
Simply deposit money into M1 Finance, set your stock and index fund selections, and let the automatic investing begin on your behalf.
Overall portfolio performance will improve by M1 automatically rebalancing it. This is all in line with your stated asset allocation targets.
By linking a bank account and debit card you can enjoy the high-interest rates. Be sure to read up on the financial literature provided as well.
There is no minimum with M1 Finance either unless you open an IRA in which you'll need to deposit at least $500.
Public is another beginner investing app recommended by Redditors. Public offers commission-free stock and ETF trades, too.
Taking inspiration from social media, Public sets itself apart as it targets Millenials and Gen-Z'ers. You can follow popular creators, and share ideas from the community of investors as you own fraction shares of stocks and ETFs.
This is all for free, of course. Public is meant to be an educational and inclusive platform.
After making an initial deposit, you will receive the $10 signup bonus. Reward friends, family, and followers with a free stock with your referral link.
Our search for the best stock trading app for beginners from Reddit continues with Stash. This mobile-friendly investing app includes investing options and a checking account!
Stash offers young investors and those under 18 custodial accounts. They can feel secure when they begin their investment journey. Their money will build with long-term wealth as the returns accumulate and compound.
The app caters to hands-off investors. With that said, you are free to actively find stocks to trade.
You can expect to pay a recurring monthly fee with Stash for its full-service personal finance platform, starting at $1/month.
As you can see, there is no shortage of beginner investing apps at your disposal. We recommend trying a few to see what you like most. The best way to start is by just diving in head first.
Before you know it, you'll be able to write your review of the best stock trading app for beginners Reddit recommends. The more you learn about investing, the better off your financial future will be.
The good news is you don't have to go at it alone.
When it comes to the top 7 best investing apps for beginners on Reddit, each app has to outstandingly and satisfactorily fulfill at least one or more stock trading needs. However, the main challenge is that most apps do not fully cater to the novice investor.
You don't need to fly solo when making your investments. With our investment app Alinea, you can start investing with fiends, sharing investing playlists, while learning from each other. You no longer have to feel intimidated by the markets.
When compared with other apps, you will love the nominal fees. Aside from stocks, you can also invest in cryptocurrencies!
Alinea is the way next gen invests. With our bite-sized insights on companies and investing, you'll soon feel like a seaonsed veteran. Don't hesitate to download Alinea, the best stock trading app for beginners Reddit recommends.
Be sure to join us to equip yourself with the best tools for investment out there today.
The Content is for informational purposes only, you should not consider any such information or other material as investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Alinea Invest or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction. When investing your capital is at risk.