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Many people consider getting involved in the stock market but have no idea how. Today there are so many different Apps to help you do everything from banking to a bet on the Australian Open Men’s Singles, so it is hardly surprising that there are also ones to help you get started trading on your phone. We will have a look here at a few of the most popular Apps and how they can help you get started. There are many benefits to using apps instead of the more old-fashioned routes because they can normally keep their costs down and therefore cost you less in commissions or fees. Check out some of the options available below.
Robinhood
Fast growing in popularity, Robinhood is an app that can help you get started and let you know what to do. It also has a zero fee structure which means you won’t have to eat into any potential profit margins with large fees to the app. It is really easy to trade once you are set up with your bank account and other information, though of course you should be careful when trading and understand that not everyone makes money.
Thinkorswim
Coming from TD Ameritude, Thinkorswim has been highly rated by many as an excellent online platform for trading stocks, with good education for first time users and lots of great information. On the negative side, they do charge fees, or brokerage costs in certain situations and if you have been on the app for a certain amount of time, so it is less good if you are only looking to play around with your pennies instead of larger investments. It is still great for letting you use a simulator to practice trades and for giving you access to analysis tools that can really aid in getting going.
Acorn
Acorn invests your spare change for you, a more relaxed way to trade that invests in an ETF, or Exchange-Traded Fund. This app does have a small cost associated with it though, so if you really are just looking to invest your small change this can eat into a large amount of this.
M1 Finance
Another app that can help you get started trading on the Stock market on your phone is M1 Finance. Another free app, M1 Finance is simple to use and allows you to buy and sell with ease, though not instantly to keep their own costs low and deliver a better value app. It is easy to build up your own specific portfolio to suit your interests and to make the same transfers and trades over and over again from your bank account.
There are many other apps which could be included here, and there is not enough time and space to go into them all, so do your own research before you decide to go with one or any at all. With so many different apps out there to help you get started, trading on the Stock market has never been easier, but make sure you have a look around and double check for any hidden fees and think carefully before you do any trades.
