Introduction: Most Popular Mobile Trading Apps
Mobile trading manifests the utilization of wireless device to make securities trading. This innovation enables traders to operate trading platforms from their telephones rather than use traditional trading methods through the computer. There are 3 notorious mobile trading apps: TD Ameritrade, Robinhood, Acorns.
TD Ameritrade offers 2 mobile trading apps that are TD Ameritrade Mobile app and TD Ameritrade Mobile Trader app. The first one is the basic app that enables traders to have the similar experience that they have in their desktop stock trading meanwhile the later – more powerful and flexible – is suitable for active investors.
Robinhood issued its mobile app before its website, the app providing free stock traders. Although it does not help you approach a full range of investments like mutual funds, it provides great support for trading in stocks, ETFs and Bitcoin.
Acorns has a great mobile app for the fresh trader. Acorns follows concretely usual spending (when it connects to your bank account) and rounds up to the nearest dollar, the remainder is shifted to your Acorns account to invest.
Installation: Free Downloading and Installation
To get those apps, you have to access the official websites of TD Ameritrade, Robinhood and Acorn. Then you have to sign up by inputing your email address, personal information, and a password. On the other hand, you can download those apps via the Apple App Store or Google Play. After installing, you’ll need to provide your online banking login information, checking account and routing number.
Basic Navigation: Simple Usage
TD Ameritrade app: The app applies on-the-go access to equity and options trading, streaming quotes, extensive news and research, real-time balances and positions, and more. Furthermore, it also contains option chains, mobile check deposit, market data, trade stocks and options, account information, transaction history and much more.
Robinhood app: Firstly, you have to sign up for the app by filling in email address and answering a string of questions. Then, you have to create your passwords and share other personal information. After signing up, link the app with your bank account. The home screen will then appear.
At first, you have to select the type of deposit, for instance, one-time deposit, weekly deposit or monthly deposit. After setting up, you will have the home screen manifest your total money how much you’ve made today. You can also choose to observe different time periods along the bottom.
Acorns app: Acorns is the app that boils down the investment to a decision of “how much” can you invest and “how much risk” you are willing to take. You can invest in Acorns by two way. The first way is that you can make a lump sum or repeating deposit. Just choose how much money you want to invest and shift it from your bank. Another way is “round-ups”. After linking the app to debit or credit cards, you can set Acorns to “round-up” your purchase and allocate the difference. Then choose how much risk you can accept and Acorns invests the money into low-cost exchange-traded funds (ETFs).
Setting Up a Trade: Clear Outline and Instruction
TD Ameritrade app: After logging in, you can hit the magnifying glass in the top right corner of the screen and next to the bill. Then, type any company stock and ETFs that you want.
The information about the stock you want will appear. At the top right corner of the screen is “Trade” item, you just hit it and then choose either buy or sell options. Next, decide the type of order: stop limit, stop market, market or limit, and type the quantity of share stock you want to purchase along with the expiration day. To finish, press the “Review Order” button at the right bottom of the screen to review all the order information. Finally, press the “Place Order” to finish ordering.
Robinhood app: Similarly, you log in to the main screen of the app and hit magnifying glass to search a specific stock or cryptocurrencies. There is a sperate section for cryptocurrencies and stocks.
When you click on a stock, the new screen will appear showing the price of the stock. Hit buy and then the information about the stock will come up. The information is about statistics, a measure of the turbulence of the stock, earnings per share of the last four quarters, etc.
After hitting the buy button, the Market Buy page appears. Choose order types and number of share you want to purchase. After that, hit the Review button to go to another page. At that page, swipe up to submit your trade and then you will finish.
If you want to sell stock, you can turn back to the stock’s main page, a sell button will lie next to the buy button.
Hit the magnifying glass if you want to trade cryptocurrency. You will see the cryptocurrencies header and the “Show More” item next to it. Click on these words and you will see a complete list of the ones available to trade. Then, choose an item that you want to purchase. The screen showing the price of this item will appear. You can hit “get started” at the bottom of the screen. This click will get you to the new function that you can invite your friend from the friend list to share the cryptocurrency. After that, you do similarly with the stock trading.
Acorns app: To make a deposit, choose whether you want it to be a one-time event or you want it to happen every day, every week or every month. Besides, you can withdraw money any time you wish without paying a fine.
You can also choose round-ups, it can be either automatic or manual. When the total of your roundups hit $5, it starts investing. Acorns will present to you how your account is doing.
Features: Latest and Unique Tools
Ameritrade Mobile Trade: All of TD Ameritrade’s platforms connect together. Thus, traders who monitor their trades and account management through their mobile devices won’t miss anything. Besides, the mobile app has full option capabilities and investors can make sophisticated orders. Once traders set order, they can reset the same order or an opposite order, establish alerts or share the order with others through social media or email. Furthermore, every study material delivered by the desktop platform also operates on Mobile Trader. The app also delivers a support chart in which customers can ask about trading problems or malfunction.
Robinhood app: The app provides a wide array of stocks, options and ETFs without paying commission or fees. Besides, the app is really safe as Robinhood is a member of FINRA and SIPC. It is also guaranteed to offer real-time data and information for free.
Acorns app: Acorn app focuses on much younger generations and especially tech-lover customer (Millennials), the apps brings many unique features
- Round-ups. For each credit card, the Round-Up to the nearest dollar is allocated to an Acorns account.
- Scheduled Deposits. Set repeating daily, weekly or monthly allocation.
- Learn. Useful materials such as investing basics, FAQs and a glossary.
- Potential. enables the customer to see how a theoretical additional investment would have on their account
- Grow. Interviews, news.
- Many other latest and updated features provided such as Acorns later, Acorns Gift Cards and Acorns Spend…
Conclusion. Top-choice Investment Apps
These 3 trading apps are the top 3 most popular apps for traders in today age.
TD Ameritrade app is well known for its highly customizable functions and wide variety of tools that can be found in the desktop platform.
Robinhood is gaining currency by dint of its great support for stocks and ETFs trading.
Acorns is receiving the applause from the beginner traders as it offers a simple and novel approach of making the investment for investors.
With those useful features, these apps are doing their best to make the trading management easier for customers.