Guest Post: Top mobile apps for traders
Getting involved in trading or investing used to be a long-winded process. You’d spend hours on the phone with an advisor to carefully weigh each option and likely have to invest a large sum just to get in the game.
Technology has changed everything — including the way we invest and trade. Investment apps make it easy to get started from the comfort of your couch. In just a few taps, you can gain access to an abundance of resources, expert advice, and tools, whether you’re in it for the long haul or want to join the millions of retail traders focusing on short-term plays.
But with dozens of investment apps on the market, how do you figure out which is right for you? Here’s a quick rundown of the top investment apps for every kind of trader.
Best for Stocks: TD Ameritrade
If you want to invest in stocks, TD Ameritrade is the way to go. It offers all the features you need to track and trade stocks and makes it easy to move funds in and out of your account in seconds.
They also offer a wide range of educational materials so you can make smarter decisions about your money. Their customer support is highly rated, though broker-assisted trades can be a bit pricey.
Best for Crypto Investors: eToro
There’s no doubt that crypto investment has been on the rise in recent years. If you are looking to join the game, we recommend eToro. This easy-to-use app provides convenient access to the cryptocurrency market, allowing you to invest in Bitcoin, Ether, and many other coins.
The most unique feature is the collaborative investment community, where you can interact and follow other traders. You can also copy their trades based on their track record.
eToro also offers portfolio templates that have pre-set percentages allocated to specific digital assets.
Best for ETFs: Betterment
Betterment is an investment app designed for socially responsible investing, especially with ETFs. Features include no-fee checking account, an easy to use platform, low fees, and unlimited money transfers. The app also offers several smart investing tools, such as their financial goals, making it easy to plan for specific events, such as retirement or college.
Betterment is easy to use, even for beginner investors. It uses robo-advisors to provide personalized advice about your trading options.
Best for Commodities: Commodity Beat
Looking to get into commodity trading to diversify your portfolio? If gold, silver, orange juice, and lumber are high on your investment wish-list, you could consider Commodity Beat. It is an easy-to-use investment app designed specifically for commodities traders.
The app provides tracking for all commodity markets, analysis, and news so you can stay up to date with what is happening in the industry.
Best for Futures: E*Trade
Futures and options are risky business, which is why we recommend choosing an established investment company such as E*Trade.
Their app is robust and easy to navigate, so you can stay focused on making smarter decisions, rather than figuring out how to complete simple trading tasks. The app also offers a wide range of educational resources and free commissions, so it’s a solid choice for both new and experienced traders.
Whether you’re looking to break into a bear market or become the next Wolf of Wall Street (streaming on DirecTV Stream), you’ll want to get the best mobile app that fits your style of trading. The apps above are the ideal place to get started.
All picks are those of the author and not of DIY Investor