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Best Stock Trading Apps For Beginners - 3 Best Stock Market Apps in 2021 - YouTube
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- Today we're going over
the best stock trading apps
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for beginners.
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We'll break down the pros and cons
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of the most user-friendly
stock trading apps
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and help you decide which is
the best trading app for you.
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(energetic music)
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Hey, welcome back guys.
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This is Erik of EverydayInvesting.com,
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where I'm all about helping
the everyday investor
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maximize their saving and investing.
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Today we're going over my
best three stock trading apps
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for new stock traders that really give you
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the most user-friendly interface
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and the best overall user experience
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to really help you start trading stocks
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right from the palm of your hand.
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Now if at any point of today's video,
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you want to jump ahead or jump back
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to any particular stock trading
app we're covering today,
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I'll be sure to include
timestamps down below
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in the description box,
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as well as links to my
more full in-depth review
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on each one of these stock trading apps.
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So today we are going over the
best three stock trading apps
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for new stock traders
that are especially great
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if you're interested in
actively trading stocks.
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Now if you want to to see
how these three apps compare
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to more passive investing apps,
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be sure to stay tuned
until the end of the video
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where I'll share with you
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the three best stock market investing apps
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that are geared a lot more
towards passive investing.
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But with that being said guys,
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let's now hop into the
first best stock trading app
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for new stock traders and
that is the Public app.
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So Public is definitely one
of my top stock trading apps
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for new stock traders because
it's a 100% commission-free
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stock trading platform,
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there are no commissions and no fees
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to buy or sell any stocks on the platform.
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And in addition, Public
is an extremely clean
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and user-friendly mobile app.
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Another great thing I
like with Public guys
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is that you can get
started trading on the app
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with as little as $5.
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So that's a really great
advantage right there
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for a new investor,
for a new stock trader.
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Now, in terms of the
investments offered on Public,
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Public does give you access
to investing and trading
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thousands of individual stocks in ETFs,
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Public lets you invest and and trade
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fractional shares of stocks,
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what they refer to as slices.
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You can trade pieces of
companies, pieces of stocks
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instead of having to buy the full share.
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As you can see, there are stocks
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that cost hundreds of
dollars to buy a full share
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and if you're just getting in
a stock trading and investing,
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you may not be able to afford that,
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but with Public you can
buy a fractional share,
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a slice of that stock and
trade that just the same.
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But by far, one of the most unique aspects
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to the Public app guys
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is the fact that they do
have a unique social layer,
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integrated a social community,
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where you can follow your
friends, have conversations
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and not only can you
connect with your friends,
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but you can also follow
experts, industry leaders
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and other people in the
investing community,
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or you can also explore their themes page,
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where they have over 50 different themes
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ranging from finance to
retail, to food, to tech,
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all of these different themes
help you discover new stocks
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that you may want to invest in
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or that you may want to trade.
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Another reason Public is
definitely worth considering
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as a new stock trader
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is because they offer
advanced order types.
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And what that means is,
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in addition to allowing
you to place market orders,
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you can also place limit
orders and stop orders,
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meaning you can have Public buy
and sell your stocks for you
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at your desired price point,
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even when you're away from
your phone automatically.
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And one non-investing
feature on the Public app
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that I really liked for new
stock traders and investors
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is that they allow you to
earn a nice amount of interest
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on your uninvested cash.
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Now they currently, at
the time of this video,
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you earn 2.5% APY on uninvested cash
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sitting in your cash balance,
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that's not invested in
your Public portfolio.
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Now in terms of the
pricing and fees on Public,
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great news, Public is
a 100% commission-free
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stock trading and investing platform.
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There are no commissions or trading fees
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to buy or sell stocks,
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nor are there any monthly
account maintenance fees
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or monthly account subscription fees,
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nor are there any minimum
account balance requirements.
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Now I want to briefly discuss
who Public is most ideal for,
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versus who Public is not as ideal for.
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So for starters guys,
Public is definitely ideal
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for new stock traders and new
investors to the stock market.
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Because not only can you get started
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investing in trading stocks on
Public with as little as $5,
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but they also have an extremely
user-friendly interface,
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very clean design, easy to navigate.
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On top of that you can
also trade and invest
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in fractional shares, in slices
of these stocks on Public,
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which is another great advantage.
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And lastly with Public, they
do allow you to explore themes
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and Public portfolios to really
help you discover new stocks
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you may want to invest in or trade.
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The second type of person I
would say Public is ideal for,
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would be for those stock traders
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that really want a sense of community
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in their stock trading app.
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Because like I said guys, Public is by far
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the most social stock trading
and investing app out there.
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They really do give you a layer
of connection and community
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and a sense of connection to your friends,
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to industry leaders, to experts,
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to really not only helping
you discover new stocks
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and portfolios, but they
also allow you to communicate
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and connect and have real
conversations around real stocks
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and real companies.
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And thirdly, I would say
Public is definitely ideal
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for stock traders and investors
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who simply want to earn more interest
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on their uninvested cash.
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Because like I said guys, at
the time I film this video,
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Public currently offers 2.5% APY interest
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on your uninvested cash
sitting in your Public account.
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So now let's briefly discuss
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who the Public app may
not be as ideal for.
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Firstly, Public may not be as
ideal for active stock traders
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that need more advanced charts and data
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to complete their stock trades.
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Now Public does give you access
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to essential stock information,
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charts and statistics
on each and every stock
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or ETF available on their platform.
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But if you're a more active stock trader
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and you're really getting
into advanced analysis
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and research and data,
you may find more value
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in one of the stock
trading apps we'll have
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coming up later on in this video.
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Now the second type of person
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I would say Public may
not be as ideal for,
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would be for investors and stock traders
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who want additional account features
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out of their stock trading app.
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Now don't get me wrong guys,
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Public is an extremely clean
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and user-friendly stock trading app.
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However, they're a little
limited on features at this time,
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as they continue to
build out their platform.
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For instance, they don't currently offer
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a retirement accounts or mobile
banking checking accounts
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with debit cards.
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And you can find some of these features
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on similar investing apps.
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With that being said,
we're now hopping into my
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second recommended stock
trading app to consider
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for new stock traders
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and that is the Robinhood app.
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So Robinhood is another
great stock trading app
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for new stock traders
because also like Public,
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it's a 100% commission-free
stock trading app.
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There are no fees, no commissions
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to buy or sell your stocks.
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And in addition, Robinhood also
has a very user-friendly app
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just like Public.
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Again, with either Public or Robinhood,
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you'll have no problems
navigating the app,
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even as a new stock trader or investor,
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they're both very user-friendly.
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Now much like Public,
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Robinhood does also give you
access to trading and investing
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in thousands of individual stocks
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and ETFs on their platform.
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Now in terms of fractional shares,
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that is a feature coming
to Robinhood very soon.
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They announced at the end of last year
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that it's rolling out
to the masses very soon
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on their platform, but
as it becomes available,
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that will be another great
feature for new stock traders,
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the fact that you'll be able to trade
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and invest in fractional shares
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of these stocks on Robinhood.
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Now in terms of getting
started on Robinhood,
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there is no account minimum requirement
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to open an account, to get started.
[436]
And just like on Public,
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Robinhood does also offer
advanced order types
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such as market order, limit order,
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stop loss order and stop limit order
[445]
to really help you automate your trades,
[447]
even when you're away from your phone.
[449]
So again on Robinhood,
[450]
by placing these advanced order types,
[452]
you can buy or sell your stocks
at your desired price points
[456]
automatically, even when
you're away from your phone.
[458]
Now, one really unique
feature on the Robinhood app,
[461]
which is really not found
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on many other stock
trading apps, if at all,
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is the ability to also
trade cryptocurrency
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because on Robinhood,
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they also have a built-in integration
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called Robinhood Crypto,
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where you can buy, sell, trade
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top cryptocurrencies like Bitcoin,
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Ethereum, Litecoin and several others
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right directly on their platform.
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Again, just like their stocks,
also 100% commission-free.
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And in one of their most recent additions,
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Robinhood has now also added
a cash management account
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directly built into the app,
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which also comes with
a Mastercard debit card
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with the Robinhood logo
on it, very cool stuff,
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because it also allows
you to access your money
[499]
much quicker now,
[500]
plus it is also an
interest earning account
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that does allow you to earn interest
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on the uninvested cash inside
of your Robinhood account.
[508]
Now the interest rate is
variable on Robinhood,
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unlike Public, which means on Robinhood,
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the interest rate can
fluctuate up and down
[515]
as the federal interest rate fluctuates.
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Now, in terms of the pricing on Robinhood,
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Robinhood guys is 100%
commission-free platform,
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just like Public.
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There are no commissions or trading fees
[525]
to buy or sell your stocks or ETFs.
[527]
There are no monthly
account maintenance fees
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and there are no subscription costs.
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Now Robinhood does offer
an upgraded account
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called the Robinhood Gold,
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which is a margin trading
account, which does offer
[539]
an array of different
additional trading features
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if you're getting more
advanced into trading.
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So that is something that they do offer,
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but the baseline Robinhood account
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is 100% commission-free to use.
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So let's briefly discuss
[551]
who I think Robinhood is most ideal for
[553]
versus who it's not as ideal for.
[555]
Well for starters guys,
[556]
I would definitely say Robinhood is ideal
[559]
for new stock traders.
[560]
Because not only do they
have an extremely clean
[562]
and user-friendly mobile app,
[564]
but they also offer 100%
commission-free stock trading.
[568]
In addition, they're going
to also soon have the ability
[571]
to invest in and trade fractional shares
[573]
coming soon to the app.
[574]
And the second type of stock trader,
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I would say Robinhood is ideal for,
[577]
is just that, the active
stock trader on the go.
[580]
Because again, with those
advanced order types,
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like I said on Robinhood,
[583]
the market order, the stop loss order,
[585]
the stop limit order and the limit order,
[587]
you can really buy and sell stocks
[589]
at your desired price points,
[590]
even when you're away from your phone.
[592]
And the third type of person,
[593]
I would say the Robinhood
app is ideal for,
[596]
is those stock traders
[597]
who want to trade both
stocks and cryptocurrency
[600]
because on Robinhood,
[601]
you don't have to choose
between either one,
[603]
it's a platform that
allows you to trade both,
[605]
stocks and cryptocurrency.
[607]
Now, who would I say Robinhood
would not be as ideal for?
[610]
Well, I would say Robinhood
may not be as ideal
[613]
for those interested in passive investing.
[616]
Because Robinhood is
definitely more geared towards
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active stock trading.
[620]
And while Robinhood can be used,
[622]
as a long-term buy and hold app,
[624]
most of the features on Robinhood
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are definitely geared towards
short-term stock trading.
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And because of this, this may
require more active research,
[633]
active portfolio management on your part.
[635]
The second type of person,
[636]
I would say Robinhood
may not be as ideal for,
[638]
would be for stock traders
[640]
who want to practice their stock trading
[642]
before having to actually
trade with their real money.
[645]
Because while Robinhood
[646]
is an extremely clean
user-friendly app to trade stocks,
[649]
you can't practice
trading with virtual money
[652]
on their platform.
[653]
Now, if you're interested
[654]
in 100% commission-free stock trading app,
[656]
that does let you practice
trading first with paper money,
[659]
we're going to talk
about that app right now
[661]
and that app is the Webull app.
[664]
So another great stock trading app
[665]
for new stock traders to
consider would be the Webull app.
[668]
Now Webull, much like Robinhood and Public
[671]
does give you access to
trading and investing
[674]
in thousands of individual
stocks and ETFs.
[677]
And just like the other two apps,
[679]
Webull is 100% commission-free app,
[682]
there are no commissions or trading fees
[683]
to buy or sell any of your stocks.
[686]
But unlike Robinhood and Public,
[688]
Webull does take stock
trading for the next level,
[690]
by offering you additional features
[692]
that you may find value in,
[694]
especially if you're
actively trading stocks.
[697]
For starters, Webull does offer
[699]
the most extensive built-in research,
[702]
data, analysis, charts,
[704]
all packed into the app
for each and every stock
[706]
in ETF available on the platform
[709]
to really help you make more determined
[710]
stock trading decisions.
[712]
But the reason I think Webull
[714]
is definitely worth considering
for new stock traders
[716]
is not for the advanced
research and analysis,
[719]
but it's rather for their
paper trading feature.
[722]
And this is a really
unique feature on Webull
[723]
that I really like and I think you'll like
[725]
as a new stock trader,
[726]
because it allows you to do just that,
[729]
trade with paper money, virtual money.
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It allows you to practice trading
[733]
with the virtual stock trading account
[736]
on the app without
impacting your real funds.
[739]
And then after you get some practicing,
[741]
then you can do it in your real,
[743]
stock trading account on Webull,
[744]
again which is all located
in the same single app.
[748]
And furthermore, Webull even
has paper trading competitions
[751]
where you can earn and win real prizes
[754]
from trading with your paper account.
[755]
So again, if you're a new stock trader,
[757]
that's the real reason I think Webull
[759]
is definitely worth considering
[761]
for the paper trading feature.
[762]
Another great reason to consider Webull
[764]
as your stock trading app
[765]
is because they also offer
advanced order types,
[768]
just like Robinhood and Public.
[770]
They give you access to market orders,
[771]
limit orders, stop loss
orders, and stop limit orders.
[775]
And they also do give you
the ability to practice
[778]
some of those orders on the paper trading.
[780]
Now, in terms of getting
started on Webull,
[782]
Webull does have a $100
minimum requirement
[784]
to get started trading
stocks on the Webull app.
[787]
But again, you can just
deposit your money first
[790]
and practice with the
paper trading feature
[792]
before you actually invest
your real first $100.
[795]
And again, in terms of the
pricing, when it comes to Webull,
[797]
it's a 100% commission-free platform,
[800]
just like Robinhood and Public,
[801]
meaning there are no
commissions or trading fees
[803]
to buy or sell stocks,
[805]
and there are no monthly
account maintenance fees
[807]
or subscription costs.
[808]
So let's briefly discuss
who Webull is ideal for,
[811]
versus who we will is not as ideal for.
[813]
For starters guys,
[814]
I would say Webull is definitely
ideal and worth considering
[817]
for new stock traders.
[818]
Again, because of that
paper trading feature,
[820]
this really does allow you
[821]
to get some practice under your belt,
[823]
practice trading real
stocks with paper money
[825]
before actually having to
trade with your real funds.
[829]
In addition, there are no
commissions or trading fees
[831]
or monthly subscription
costs to use Webull,
[833]
making it another great
point for new stock traders.
[837]
Secondly, I would say Webull is even ideal
[839]
for intermediate and experienced traders
[841]
who simply want to save on commissions.
[842]
Because again, with Webull,
[844]
you get access to those
advanced order types
[846]
to help you automate your trades,
[847]
plus you save on commissions
because there are no costs,
[850]
there are no monthly subscription fees.
[852]
And thirdly, I would say Webull
[853]
is definitely ideal for
active stock traders
[856]
who really want to use all that data,
[858]
research, analysis and charts
[860]
to really make more informed
active stock trades.
[863]
Now who would I say Webull
may not be as ideal for?
[866]
Well, I would say firstly,
[867]
Webull may not be as ideal for those
[869]
interested in passive investing.
[871]
If you're more interested
in passive investing
[873]
and not having to
actively research stocks,
[875]
research companies actively
manage your portfolio,
[878]
you may want to consider one
of the three investing apps
[880]
I'll mention right now coming up
[882]
as an alternative.
[883]
Secondly, I would say
Webull is not as ideal
[887]
for those who are less
active in trading stocks.
[890]
Because Webull's advanced
charts, research and data
[893]
are their greatest selling point,
[895]
it's also their greatest weakness,
[896]
especially for new stock
traders and investors,
[899]
because it can be a little
overwhelming without a doubt.
[902]
So if you're not going to
be actively trading stocks
[904]
and utilizing all that
data to your advantage,
[906]
you may find more value
in say Robinhood or Public
[909]
for trading your stocks, which
don't have all that data,
[912]
but they're more user-friendly
and less overwhelming
[915]
for new stock traders
I would definitely say.
[917]
Now if you enjoyed this video
[918]
on my three best stock trading
apps for new stock traders
[921]
and you want to see how these apps compare
[923]
to my three best investing
apps for passive investing,
[926]
I encourage you to check
out this video right here
[928]
on my three best investing
apps for passive investing
[931]
to really help you decide,
[933]
which is the best stock trading app
[934]
or investing app
[935]
or combination of both for you.
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