Overview: Top investment apps in 2021

Against the backdrop of the pandemic and its subsequent impact on the financial situation of all countries and most people around the world, there is currently a global effort both on the collective and the individual level to bring our financials back on track. For many people this may come through the usage of investment and financial apps, which are very handy and useful as tools since they can effectively handle routine financial tasks on our behalf, tracking our spending and allocating our funds into our different investing endeavours, thus saving us both time and effort.

Read on to find out all about some exciting opportunities and capabilities that such apps put at your disposal through the efficient and effective organization and investment of your finances. The examples highlighted below do not include solutions offered by the traditional players, such as brokers, but rather from innovative fintech providers who have upped their game and propose apps that disrupt the current conditions and lead to bigger and better results for interested individuals and investors.

The top investment apps showcased can cater for all your investing needs and are particularly easy to use and very helpful for beginners, wishing to start their investing endeavours for the first time, and even for those who would like to pick a stock just for the fun and thrill of it.

Here are the current best investment apps that you should try out:

Stock Trading Brokers Reviews in 2021

4.7 / 5

Rating breakdown

Security
90%
4.5/5
Ease of Use
100%
5.0/5
Tradable Assets
80%
4.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
100%
5.0/5
Support
90%
4.5/5

Things we liked:

 Zero commission policy
 Customers support is available 24/7
 Up to 500:1 leverage
 Low minimum deposit requirement

Things we didn't like:

 No demo account
 TradeOr offers only one payment method – bitcoin

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Choosing the Right Stock Trading App

Retail stock trading is nowadays more popular than ever and with entry barriers being removed since online retail trading makes transactions in stocks readily available and easily attainable for all, there is a huge demand for stock trading apps that facilitate retail traders in their stock trading endeavours. In order to ensure that their specific needs and demands are met, retail traders are constantly on the look out for optimized trading apps that will help them successfully navigate the complex world of stock trading.

It is true that in 2021 the retail stock market has shown signs of unprecedented activity and popularity, with many new stocks entering the scene, including some stocks from very popular companies, such as Gamestop (NYSE:GME) and AMC Entertainment Holdings (NYSE:AMC), whose names act as magnets and further boost the interest and willing to trade for the masses. The stock markets are no longer viewed as the prerogative of the select few, but ordinary individuals can now trade on stocks far more easily than ever before. Indicative of this current boom is the fact that, according to a recent poll, an impressive 28% of all Americans actually traded the GME stock during the previous two months.

Why a well-informed investor is the wisest investor

The stock market is not novel by any measure, however the record number of new investors it is currently attracting, are testament to the fact that it is currently in a booming, flourishing period. The invigorated and largely unprecedented interest in single share company stocks and CFDs has also meant that currently record numbers of interested investors are setting up brokerage accounts or seeking stock trading apps that best meet their investment needs.

However, the recent boom in demand also came with an evident downside in that it has pushed the traditional brokerage system and already established stock trading apps to their limits, exposing their vulnerabilities and shortcomings and leaving investors unsatisfied and puzzled.

A prime example of this conundrum is the case of popular trading app Robinhood, which faced many problems in early 2021, leading to the repeated throttling of the trading of certain companies, a decision taken in order to keep operations afloat, but causing great upset to retail traders who were depending on brokers like Robinhood, TDAmeritrade and other similar ones in order to cover their stock trading needs.

The ensuing trading halts or clearing requirements investors were faced with, sparked great frustration and put such traditional provides in the limelight for all the wrong reasons, while the untimely trading halts which meant that clients were prevented from buying popular stocks such as GME and others, were deemed as scandalous and sinister, since all retail investors were not getting an even and level playing field.

Why you need to expect and demand more from your stock trading app

As investors paid great importance to be able to trade all company stocks and be able to capitalize on all market trends, this drove them away from traditional providers, like RobinHood, whose imposed halts meant investors were missing out on investment opportunities and urged to look for other alternatives to satisfy their trading needs.

Finding the right, best suited and most appropriate brokerage or investing app is however not an easy task and this is further complicated by the fact that modern day investors want access not only to stocks and the greatest possible variety of them, but also to an array of other asset classes, such as forex, commodities, and the new hot trend, cryptocurrencies.

Making the right choice is further complicated by the presence of literally multiple thousand different brokers and trading apps in the online retail market, each charging different trading commissions and implementing different fee structures, making it even more difficult for interested investors to make comparisons, draw conclusions and make the best selection.

What one should always keep in mind however is that what constitutes the absolute best brokerage or best trading app, depends entirely on the specific needs and aims of each individual prospective user and that there are no simple answers or one-size fits all ideal solutions.

Put your own specific needs and wants at the epicenter

Most traders might think that if a brokerage or app makes multiple asset classes and a wide selection of instruments in each class available for trading by them, then this is enough to choose them for their trading needs. This however is by no means enough and all investors, especially novices need to pay great attention to the small print and any specific conditions attached to the offering and how transactions are conducted.

Aspiring investors need to know and understand as much as possible about how things work and operate and be fully aware and cognizant of all the features and attributes for each brokerage or trading app they are considering. Particular attention should be paid to leverage restrictions, issues stemming from regulatory oversight and watchdog requirements, and even simple matters such as the trading hours supported.

As the heightened rush and hysteria for stock trading and all things trading in general is unlikely to subside any time soon, relying on reliable broker or trading app reviews, which give ample information and convenient insights on what investors should expect, becomes crucial. Acquiring in-dept knowledge about the strengths and weaknesses of each brokerage or trading app, enables investors to identify which provider best matches their own specific needs, skill base, requirements and aims.

What to pay attention to when choosing a stock broker or an investment app

To help you narrow down your options when trying to select the best and most suitable trading brokerage or trading app to best match your own needs, here’s the top issues you need to pay particular attention to:

  • Price: This refers to the fees you will be called to pay in exchange for receiving trading facilitation services. The good news in this regard is that increased competition has meant that most providers have slashed their fees and some even offer trading commissions on stocks and ETFs which are down to zero!. As fees are important for all investors your own reviews always focus on this subject and provide you with comparable data and facts on which to base your decision and help you have a clear view of all associated trading costs that must be borne.
  • Broker features and resources: Brokerages and trading apps vary considerably in terms of the advice, assistance, learning resources and research tools they make available to their clients, and these are all important factors you need to effectively compare. Moreover, it is essential that you evaluate each provider’s digital trading app in terms of its quality as well as ensure that your chosen provider allows you place and execute trades quickly and reliably.
  • Your trading strategy: Your personal investment strategy and trading goals, as well as how often you intend to trade and which types of assets you prefer, as well as whether you are a complete beginner or more experienced in trading, all make up your own specific needs. What is thus a must, is to evaluate accurately how each provider allows the tailoring of its offering to best suit different types of customers and fully satisfy and meet their specific requirements.

What does buying stock mean?

If you are a complete novice then perhaps you should first understand that when you are buying a company’s stock this effectively means that you become the owner of a small percentage of the said company and that, since your purpose is to make money, you should choose companies whose stock value you expect to increase. Stock buying may occur through a face-to-face deal with a physical person, who should be a broker, or through the more convenient method of opening an account with an online retail brokerage, which will enable you to start trading. A way to skip brokerage fees would be to buy stocks directly from the company, but not all companies offer this option and thus not all stocks may be acquired in this manner.

How do I buy stocks myself?

If you have decided that stock trading is your cup of tea, then you should follow the following five easy steps in order to achieve this:

  • Open a brokerage account
  • Pick your preferred stocks
  • Determine the number of shares to purchase
  • Choose your order type
  • Maximize your trades

Having identified the necessary steps to follow, let us now explore each of them in greater detail:

  • Open a brokerage account

    As already discussed, there are many brokerages to choose from and though the offering of many is very similar, there are often distinct differences in user-friendliness and additional features, that might be better suited to your own particular needs. It is important to remember when comparing brokers that you should not just compare their fees. In fact, it may be wiser to choose a broker with slightly higher commissions, in case it offers exceptional customer service and assistance, as well as educational and trading learning opportunities and resources. This is especially relevant and true if you are beginner trader and investor. Other factors to notice during your evaluation include:

    • Minimums: Though the majority of brokerages require either no minimum or impose a low threshold like $50, rendering them accessible to small scale investors, wishing to gradually build their investment portfolio overtime, it is important to be aware of minimum requirements as these differ from brokerage to brokerage.
    • Trading fees: Though not the most important consideration, fees should always high in your comparison criteria. The general trend is that commission and fees are dropping and thus trading now costs you less than in the past. Still however, when fees are charged per trade and you plan to trade often they tend to pile up fast, thus it makes sense to identify providers offering the lower overall trading fees. Once you have identified the best and most suitable brokerage your next more should be open an account with them by registering your details and funding your account through your bank account, debit or credit card or other accepted payment method. Once the funds you deposit are cleared, you will be able to start buying your desired stocks.
  • Pick your preferred stocks

    Once your account is set up it is time to choose which stocks you wish to invest in. To do so, and to maximise your chances for profit and success you need to conduct careful research into the companies that interest you to determine if their future is promising and they are worth your money. Such research may be performed by closely following financial news and announcements online, on tv, on the radio, magazines and newspapers. Try to locate dedicated reports by expert analysts who provide reliable information on the earnings, cashflow, revenue and profit margin of each company you intend to invest in. Most brokerages also feature such analysis to their customers from information they obtain from media, analysts or specific industry groups and forums. Finally, since traded companies are public companies their annual reports and other financial details are often available on their websites publicly, since they have an obligation to keep their shareholders informed as well as share such details with government watchdogs, such as their local Securities and Exchange Commission.

  • Determine the number of shares to purchase

    Having decided on the company or companies you fancy, your next decision would be how many shares to actually buy. Especially if you are just starting your stock trading endeavours it is important to tread with caution and keep in mind that you should keep your risk exposure as low as possible. To achieve this, you can choose to make smaller investments and spread them out over longer time periods. Until you understand how a specific company fares out and how different investing strategies unfold and are implemented, you may even start by buying only a couple of shares and then gradually continue to purchase small amounts, until you feel completely comfortable with the process and confident about your choice.

  • Choose your order type

    The next decision you are called to take is deciding the prices at which you would like to purchase a specific stock. Your trading orders may be of the “market” or “limit” type. A market order entails buying or selling the stock in question at the best price available. When placing a market order this occurs and is fulfilled as soon as you press the submit button on the device you are trading on. On the other hand, if you choose a limit order, this means that you will only buy the stock at a specific price that you set. If you set an amount that is too low and there are no buyers at that price level, then your order will not be completed.

  • Maximize your trades

    Though the buying and selling of stocks is not difficult as a process, its successful outcome is not easy to attain and it usually requires careful preparation, patience and solid education on trading tactics, strategies and skills as well as remaining up to date with market news.

    Due to is solid earning potential stocks trading is considered a good method to build wealth in the long run and be a constant supplementary income generator, or even cover one’s retirement. However, actually making money through stocks entails developing a personal trading strategy that is effective, tried and tested. Solid research and discipline in implementing your strategy tend to maximize success, while trading with your heart and emotions may lead to disastrous results.

    How much money should I plan to invest in stocks?

    Low fees as a result of competition between trading service providers mean that nowadays virtually anyone can start trading in stock with very little money required to get started. Moreover, it is also possible and perhaps wiser to start investing very small amounts and only commit larger sums once you are confident and comfortable. How much you decide to invest per se obviously depends on your own financial situation and your needs and goals as a trader. However, keep in mind that in the long run what usually pays off is not a hefty investment in terms of money, but rather commitment and discipline and wise and insightful stock selection.

    Stock Trading Platforms FAQs

    How Can I Choose the Best Stock Trading Apps?
    To be able to determine the best stock trading apps you need to study, learn and compare their offering in its different facets and set them against each other to establish which is best and which better serves and caters for your own needs. Trading fees and costs, ease-of-use, and what users are able to do within each app should be factor that merit your attention, while you should also check the types of accounts offered and the extend and wealth of the tradable assets list. Additional trading features and enhanced tools, such as charting capabilities need to also be compare, while a useful benchmark is assessing how well a trading app can adjust and be tailored to meet the differing needs of different types of traders, such as those of complete beginners or seasoned pros.