What the Tech? Which Apps Are Best for Playing the Stock Market?
If you’ve been paying attention to the stock market lately, you may have decided to sell everything. Or, you may decide to “buy the dip”.
There’s a good chance many of you have become a little intrigued by the possibility of playing the market for fun or long-term investing.
Then there’s cryptocurrency such as Bitcoin, Ethereum, and Dogecoin. For experienced stock traders, you may already have a favorite app for buying and selling, and research.
If your interest is piqued or you’re planning to get involved, there are several apps to help you understand the markets and actually do some buying and selling.
TD Ameritrade and Charles Schwab investing apps are highly respected and used by most serious stock market traders. To use these and other apps you’ll need to open an account which means entering a social security number and bank account information.
You’ll fund the apps with money from your bank account. These apps allow for buying and selling stocks, and options trading. They also offer lots of information on a stock’s performance and any news. The tickers are live so you can monitor stocks and investments up to the second.
TD Ameritrade and Charles Schwab apps are simple to use but not ideal for people who are new to trading on the exchange and who want to learn the ins and outs of investing.
Robinhood is a popular app for beginners. There are no fees for stock trades. You can also purchase bitcoin and other crypto-currency. There are fees when buying crypto no matter where you purchase it. Robinhood also allows investors to purchase fractions of shares of stock. For example, rather than buying one share of Amazon at nearly $3,000 a share, Robinhood lets you
purchase a dollar amount which can be $100 or even less.
Robinhood did catch heat last year when the stock for both AMC and GameStop drastically fluctuated in price in a short amount of time. Robinhood users complained they were unable to sell shares quickly enough after Robinhood halted trading for a short period of time. It remains a popular app for beginning stock market traders.
All of these apps offer information and some insight. “Public” is an app that goes much farther when it comes to easy research. The free app is also ideal for beginners and you must connect a bank account to the app for it to work. You can purchase shares of stock and crypto in the Public app, but where it really shines is in the amount of information.
Users can also purchase fractional shares of stock and crypto and the app gives you a small slice of a stock when you first sign up. A Community page allows experts and other users to discuss what they’re buying and selling and why.
The social aspect of the Public app makes it more interesting and useful for people who are just learning how to invest. It also shows users what other people are investing in if they so choose and there’s an option of asking questions directly to CEOs, though there’s no guarantee you’ll get a response.