Are you an investor or trader looking to enter the penny stock market? If so, you’ve come to the right place. Investing in penny stocks can be a profitable venture if done correctly, and having the right tools is key to success. With that said, today we are going to unpack some of the best trading apps for penny stocks available on the market today so that you have access to all of the information and resources needed in order to pick winning stocks. Let’s get into it!
The Benefits of Using a Penny Stock Trading App
Using a penny stock trading app can provide numerous advantages to investors. First, it allows you to easily keep track of your investments and quickly respond to any changes in the market. Additionally, it provides real-time data that can help you make informed decisions about where to invest your money. Finally, some apps offer additional features such as charting tools and news feeds, which can help you further your analysis.
Let’s Take a Look at the Top 5 Penny Stock Trading Apps:
Charles Schwab is one of the leading online investment firms, with over $3.9 trillion in assets under management. Founded in 1971 by Charles Schwab, the company has become a leader in providing low-cost and easy-to-use brokerage services to individual investors and businesses. It offers a variety of products and services, including a powerful penny stock trading app.
Charles Schwab’s trading app is one of the most popular and well-known platforms in the market today. It offers a great deal of features such as real-time quotes, advanced charting capabilities, customizable watchlists, and a wide range of research materials. Additionally, you can access your account anywhere with their mobile app or desktop platform.
Pros and Сons of Charles Schwab’s Trading App:
- Easy to use and navigate
- Low fees
- High safety and security
- Too many tools and resources can be overwhelming
E*Trade is one of the most popular online brokers in the world, with over 4 million customers and $446 billion in assets under management. Founded in 1982, the company provides a wide range of services such as stock trading, mutual funds, options trading, retirement accounts, and more. E*Trade is known for its low fees.
With E*TRADE, users can access two different versions of the mobile app tailored to their specific needs — whether they are a professional trader or just getting started. And it doesn’t stop there – investors have even more tools at their disposal with research reports from Reuters and TipRanks readily available as well as an expansive knowledge section containing valuable articles regardless if you’re currently signed up for an account.
Pros and Сons of E*Trade Trading App:
- There are two different app options for investors, depending on their needs.
- You don’t have to deposit a minimum amount.
- No commission for stocks not traded on the OTC.
- Don’t offer fractional shares
Fidelity is known for being one of the largest, most respected and well-established investment firms in the world. Founded in 1946 by Edward C. Johnson III, Fidelity has grown to be a global force in the industry. Over the years, Fidelity’s commitment to its core principles has helped them become an industry leader.
Fidelity’s mobile app is designed to provide users with an easy-to-navigate and intuitive platform. The app offers a range of features, including real-time quotes, customizable watchlists, research materials, and advanced charting capabilities. Additionally, the app allows you to access your account information easily from any location.
Pros and Сons of Fidelity Trading App:
- The best stock research and analysis from around the world.
- Fractional shares let you invest smaller sums of money into larger businesses.
- Only U.S. citizens are able to open an account
Robinhood is an online brokerage firm that is popularly known for its commission-free stock trading. Founded in 2013, the company has quickly grown to become one of the most popular trading apps in the United States.
In addition to offering zero-fee stock trades, Robinhood provides users with other tools and services such as options trading, ETFs, and cryptocurrency trading. The app is designed to be user-friendly and intuitive, making it easy for new investors to get started in the stock market.
Pros and Сons of Robinhood Trading App:
- Commission-free stock trading.
- Award winning mobile app that is easy to use and navigate.
- Limited types of investments available.
- No short selling allowed.
Interactive Brokers is one of the leading online brokers for traders seeking a wide range of investment options. Founded in 1977, the company has grown to become a powerhouse in the trading industry and is known for providing reliable, secure services for investors. Interactive Brokers offers customers access to markets around the world and provides users with sophisticated tools designed to help them find success in their investments.
The Interactive Brokers mobile app is designed to provide users with the same level of trading services as the company’s website. The app offers a range of features such as real-time quotes, watchlists and customizable portfolios, advanced charting capabilities, and more.
Pros and Сons of Interactive Brokers Trading App:
- Offers customers access to markets around the world.
- Advanced charting and research tools.
- More expensive than other apps.
- Complicated user interface.
- Charles Schwab: easy to use and navigate, low fees, high safety and security
- E*Trade: two different app options available, no minimum deposit required, no commission for stocks not traded on the OTC
- Fidelity: best stock research and analysis from around the world, fractional shares let you invest smaller sums of money into larger businesses
- Robinhood: commission-free stock trading, award winning mobile app that is easy to use and navigate
- Interactive Brokers: offers customers access to markets around the world , advanced charting and research tools
Investors have a lot of options when it comes to choosing a trading app. Charles Schwab, E*Trade, Fidelity, Robinhood and Interactive Brokers are just five of the many apps available on the market today. Each of these apps has its own advantages and disadvantages, so investors should take their time researching them to find one that best suits their needs. Regardless of which app you choose, make sure to read the terms and conditions carefully before trading.