These 4 Apps Are Great for Active Traders and Beginner Investors

Becoming an active trader is an exciting venture for so many people. However, the excitement is even more magnified if you get into this venture prepared with as much information and tips as you can.

For a beginner, the world of trading can be a bit overwhelming. This is what makes many investors quit before they actually start making decent profits.

Whether you are a beginner investor or have been an active trader for a while, you must be aware of how important it is to embrace technology in the trading world. In this mobile-driven era, you may have to learn about a few trading and investment apps that help make you a better trader, potentially enhancing your returns on investment. If this sounds anything like you, this article is for you. Here are four apps that active traders and beginner investors will find helpful.

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1. Robinhood

Robinhood is one of the apps popular among stock traders. Just some two years ago, the renowned investing app announced the launching of its upcoming cash management account among other incredible features. For starters, it is easy to work with even as a beginner. Users can easily navigate between various screens, plus the trading platform offers commission-free trades that beginners can take advantage of.

The app is also known for its support by offering charts, statistics, and financial news from various credible sources. This keeps the members well informed on the market dynamics before they invest their hard-earned dollars. Another pro of this app is that it has no preferential bias of wealth. This is where it gives everyone a fair chance of investment despite the account value. Therefore, this real-time trading platform can benefit you as a beginner or professional trader. Some of the major products offered include ETF, stock trading, cryptocurrency trading, and most importantly, cash management.

2. TD Ameritrade

This is among the common trading apps available. With its wide scope of stock trading platforms, it remains to be the home of many beginner traders and experienced users. One key feature that makes it a darling to many is the extensive education and interactive courses it offers. For a beginner, this equips them with knowledge and skills that help them build trading confidence and prowess. Also, its engagement on social media apps like Facebook and Twitter keeps a trader in the loop of financial news. Once a newbie has mastered their bearing, the app has web platforms like thinkorswim. This offers tools to perform test strategies and monitor potential risks.

Another advantage of using this platform is its pricing model. It charges no amount for commissions as well as platform and data fees. Besides, there is no trade minimum, so you do not have to rob a bank to get started. In addition to that, this customizable, easy-to-use mobile app offers various investment choices. The options include stocks, ETFs, futures, bonds, annuities, and cash/portfolio management. All this gives you a field to explore before building a portfolio that is best for you. Overall, it offers the smartest and most convenient way to trade.

3. Fidelity

This is the best low-cost trading app that offers vast services for trading, investment, and retirement benefits to its members. It has a wide range of investment arsenals like stock, ETF options, precious metals, mutual funds, and CDS. The app has a user-friendly account for beginners and a more tailor-made platform for full-on traders. The major advantage of Fidelity is that it provides members with education through webinars, coaching sessions, podcasts, and active investor insights. This aids a trader in evaluating trading options for a more informed investment decision.

The app also has zero commission, no trade fees, and does not have a minimum amount. This makes it a number one choice for an investor who is seeking to make money with minimal cost. Lastly, the app offers wealth management services that make you aware of your financial state. By allowing you to measure your retirement score you get a picture of your level of preparedness.

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4. JP Morgan

Another high-integrated app, JP Morgan charges no commissions to investors, making it a great option for self-directed trading investors. If you are a beginner looking to learn how to buy and sell your own stocks, JP Morgan can be a great option. Moreover, the platform is highly intuitive and there is no account minimum to start trading. The major downside, however, is that you will need a balance of $2500 to utilize the portfolio builder tool. The features and research resources are also a bit limited.

As a stock investor or active trader, the trading app you use can limit your investments and profits. Thankfully, we live in a technologically advanced age where you have a range of trading app options to choose from. With one of the four trading apps above, you can hopefully customize your trades to suit your needs and maximize your returns.

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