What the Tech? Check Out Stock Market Trading Apps
Reddit and the Robinhood stock buying app took over Wall Street but many Robinhood users are not happy with the app they use to purchase shares of stock.
After Redditors ran up the price of several stocks including GameStop, Robinhood halted new purchases. Friday the app again restricted GameStop share purchases to just one per transaction.
Also Friday users learned that Google deleted nearly 100,000 negative reviews in the Google Play Store to help protect Robinhood’s 4-star rating.
Robinhood gained popularity with new stock traders because it is very easy to use. A few minutes after linking a bank account with the app a user can be trading shares of stock but Robinhood isn’t the only app that allows even the most average Joe to purchase shares of stock.
Here are a few options:
E*Trade is one of the oldest stock trading websites and apps. It too is easy to use and it has more information and analysis of companies than Robinhood. In addition to buying and selling shares of stock users can buy options, mutual funds and crypto-currency. Users can also open savings accounts.
WeBull is simple to use as well but not as well known among amateur traders. It also restricted purchases of shares of companies caught up in the “Reddit Rally”. Like Robinhood and E*Trade WeBull does not charge users a commission on transactions. You can also purchase Bitcoin from WeBull after connecting your bank account.
Many people already have the Cash App on their phone to pay friends their share of a restaurant bill or rent and users can also purchase stock with the app. There isn’t a lot of information, analysis and research available at their fingertips but the interface is easy to use.
TD Ameritrade is another well-known finance app that allows users to trade shares of stock. Of all the apps I’ve mentioned TD Ameritrade offers the most information such as P/E Ratio, Dividend Frequency, shares outstanding, and upcoming earnings announcement estimates.
Lots of information but maybe too much for the casual investor. If you do spend time researching stocks and read up on the latest analysis, TD Ameritrade is a good option. It also has a great website where you can watch a live ticker of the markets. You cannot buy Bitcoin on the TD Ameritrade platform.