After this week’s stock market drama, you might be looking into trading apps that are not Robinhood. The good news is, there are plenty of great options to choose from. For beginner traders and experienced stock market gurus alike, the beauty of modern technology is here to provide a bunch of different apps to suit your needs. Here are 5 trading apps that aren’t Robinhood that will get the job done.
TD Ameritrade has great reviews across the board, from financial blogs and publications all over the map. It’s known for having excellent tools and research to help make the best trades possible. With TD Ameritrade, you can manage multiple types of investments with separate apps for different trading styles, both beginners and experts. It also offers $0 trades, which is an important feature for people looking to start with a new investment app or switch from their existing platform. Another added bonus, TD Ameritrade offers excellent customer support.
Acorns is not a free investing app. It costs $1-$5 a month, depending on the services you want. This is a financial app that’s dedicated to more than trading, which is great if you’re looking for something to help with overall financial health and education. It will help you grow your money with investments, checking accounts, and retirement, all in one. It’s super easy to use the Acorns app, which is a bonus if operating technology isn’t your thing. If you want to, you can just set it up and forget it, perfect for those of us too busy to mess with trades every day. With an Acorns feature called Round-Ups, you can connect a credit or debit card to your account, and the app rounds purchases from that card up to the next dollar and invests the difference into an ETF portfolio. This means automatic savings every time you spend without a second thought. The app chooses your portfolio based on a quick survey of your needs and economic situation and on the estimated time until retirement, getting more conservative as you age. For the record, this is the investment app I use personally.
Fidelity is a great option because it is good for both beginners and more advanced investors. It’s inexpensive and offers great research information. There is a focus on retirement education, which will benefit users in the long term. It also offers fractional share investing and allows users to customize alerts and feeds. The mobile app has a super easy user experience, which is always nice to have. Fidelity also generally considered by reviewers to be an A+ option. Fidelity is a reliable company backed by an old, reliable name, so you can feel secure with this decision.
Like Acorns, SoFi offers a range of services beyond just investing and stocks. Customers that use SoFi will have access to help with student loan refinancing, mortgages, personal loans, credit cards, and banking. This is a great app for folks looking to have all their financial needs met in one easy stop. If you’re looking for something that hones in on investing in an advanced way, there are other apps, but for beginners who have other economic needs, SoFI is a great option.
WeBull is a completely free app, and the real advantage with this option is no account minimums or commission fees. However, this app offers fewer options than more traditional trading apps. WeBull allows trading on cryptocurrencies 24/7, extended hours trading, ability to set up an IRA. The app does offer a lot of features that are great for active traders. WeBull is often compared to Robinhood since the apps are similar in their business strategies. It’s important to note that WeBull also participated in blocking the purchase of certain stocks this week, although they got much less press over the decision than Robinhood. Keep that in mind if you’re looking to make the switch.