With more investors on the go, it is vital to have the right tools with you at all times to not only have the right information when you need it, but also the ability to pull the trigger and make the trade.
There are several apps that provide insight, allow traders to easily make trades on the go or even help investors hone their skills without risking a dime, reports the Investopedia.
While more experienced traders may roll their eyes at the simplicity of Robinhood and the newbies it attracts, there is no denying it is a game changer.
It is easy to question how Robinhood makes money by offering completely commission-free trades and no minimum balances.
Robinhood targets younger, inexperienced traders; the average user is 26 years old, and 25 per cent are first-time investors.
Over its first eight months, Apple users conducted over $1 billion in trades.
The response to its Android launch later in 2015 was massive, with over 50,000 downloads on the first day. Compared to other services that charge up to $10 per trade, Robinhood estimates it saves its customers $5 million a month in fees.
In 2015, Robinhood became the first financial app of any kind to win an Apple Design Award, thanks to its quick sign-up process and easy-to-use interface.
The app uses geolocation to suggest relevant stocks.
It provides an innovative crowdsourced, social approach that shares insight and trends from other Robinhood users, looking to build a following.
The founders of the company say that there are no plans to ever charge users for trades.
TradeHero is a great app for stock traders, even though it does not allow users to make real trades.
A sort of fantasy trader app, TradeHero is perfect for users looking to hone their skills or test new strategies without financial risk before pulling the trigger with their real portfolios.
Everything within TradeHero is based on real-time data and simulates stock exchanges from around the world.
Users receive $100,000 to build their fantasy portfolios and compete against each other to see who can reach the top of the leaderboard and be listed as a hero.
For a subscription fee, users can choose to follow their favorite heroes to try to get an edge.
As a reward for their prowess, the fees are then split with the heroes.
Stocktouch allows users to watch the stock market in real time with an impressive and easy-to-understand visualization of market data.
Stocks are sortable alphabetically, by size, by market capitalization, by percentage gains and by volume.
It is a powerful and comprehensive tool that takes advantage of mobile devices like no other stock market app.
Users can zoom in and out or touch anywhere on the screen to gain more insight into market trends on companies and sectors.
Color-coded heat maps help users track the market’s ups and downs.
TD Ameritrade is one of the more expensive brokerages.
However, with access to comprehensive research materials, traders of any level benefit from TD Ameritrade’s expertise.
Users of this app can make trades while chatting with other traders or while watching CNBC.
Users can also use the app to learn more about a company while shopping, simply by taking a picture of a product’s barcode.
E*Trade Mobile’s easy-to-use interface helps users make trades quickly.
A voice search function helps locate stocks. With real-time quotes and news from Morningstar, MarketWatch, Briefing.com and various wires, along with CNBC Video on Demand, users have access to a wealth of information.
Users have access to educational tools, comparison charts and performance-over-time charts, and they can customize watch lists with ease.