It’s nearly been a month since a group of Redditors rocked Wall Street with the GameStop (GME) stock. While the ethics of this battle are for you to decide, the result is that many of us are suddenly far more interested in stocks than we were before. This is why I’m going to be covering the best apps for trading stocks on iPhone in today’s post.
I recently covered how you can use your iPhone to invest in Bitcoin, and now it’s time to look at a more traditional type of investing. In the first half of this post, I’ll cover the basic trading apps that most people will use to exchange their cash for shares.
In the second half, I’ll go over apps you can use to learn more about investing on the whole. That way, you’ll not only be able to invest, but you’ll also know what you’re doing.
Let’s get started.
The best apps for trading stocks on iPhone
To kick things off, here are five of the best apps for trading stocks on iPhone. These are all very popular and reputable apps, so your investments should be in safe hands. I’ve tried to include easier apps for beginners and more flexible apps for pros. I’ve also included apps based on how well they integrate with your existing bank and brokerage accounts.
1. Fidelity Investments: The best overall
First up is Fidelity. Fidelity is one of the oldest options on this list, making it a credible and safe option. It’s also extremely popular and is a perfect middle-of-the-road option. If you don’t know what app you want, you probably want Fidelity Investments.
Fidelity has a clean interface and makes investing super easy. It includes options for trading stocks as well as preparing for your retirement. It also has features to help you learn about investing, such as speaking to a Fidelity representative at any time.
With Fidelity’s app, you can invest in stocks, mutual funds, and ETFs. You cannot, however, invest in cryptocurrency with Fidelity at the time of writing.
2. Schwab: The best features, the worst interface
Next up is Schwab, or Charles Schwab. Schwab is the other traditional option for trading stocks on iPhone in this list. Like Fidelity, Schwab allows you to easily invest in stocks, mutual funds, and ETFs. Also like Fidelity, Schwab does not offer cryptocurrency trading at this time.
Schwab is an interesting offering on this list because it has as much working against it as it does working for it. Anyone who’s used a smartphone in the last ten years will immediately notice just how dated and clunky Schwab’s interface is. It’s not very enjoyable to use this app on a day-by-day basis.
On the other hand, Schwab has a lot of pro-user options when it comes to their account. For instance, you can open your brokerage account and a linked bank account at the same time, allowing you to easily move money between the two. You can even open and manage a Roth IRA alongside your brokerage and bank accounts.
There are also no minimums on any of these accounts, no commission fees, no recurring fees, and your checking account reimburses you for foreign transaction fees and ATM fees. So you not only get a solid tool for trading stocks on iPhone but a great bank account as well.
3. Webull: The best for modern investors
Now it’s time to get into the modern apps for trading stocks on iPhone. These are apps that have been created since the era of the smartphone, meaning that they have some unique features and interfaces that make them more accessible to most users in 2021.
First things first, Webull is completely free. There are no hidden fees or anything like that. You don’t pay anything to use the app. You can invest in stocks, ETFs, options, IRAs, and some cryptocurrencies.
This makes Webull an all-in-one trading app for the modern investor. It has smart features like using your voice to make purchases, pre- and post-hours trading, and more. While more technical than some other investment platforms (Webull expects you to have some trading experience) it’s a great all-around app.
4. Square Cash App: The best for beginners
Square Cash, or more popularly known as “Cash App”, is the absolute easiest app to invest in stocks on iPhone. If you don’t know anything and want to start with an affordable, simple tool, this is for you.
You can start investing in stocks with Cash App using as little as $1. This is perfect for those who are just trying to understand how trading works without risking any serious amount of money. There is a catch, however, that you can only trade $250 per week without a Social Security Number.
Additionally, Cash App users can easily invest in Bitcoin. The minimum is just $1, and you can keep that Bitcoin in your Cash App wallet or transfer it to a hardware wallet (more information on hardware wallets here). No fees, no limits, and real-time insights.
If you want a simple app to invest with or are already a Cash App user, this is for you.
5. Stash: The best for serious investors
Lastly, we have Stash. Stash is like the grown-up version of Cash App. It’s for those who are ready to stop dipping their toes in and dive into the deep end. Right when you start to set up your account, Stash is going to start discussing your financial goals. This includes investing in stocks on iPhone as well as setting up savings for yourself, your kids, and more.
In other words, Stash is a brokerage app combined with a financial literacy app. You’ll get advice and tools to help you with your banking, savings, retirement, and family. You’ll also have unique options such as the Stock-Back Card, which is a card that gives you cashback in the form of stocks.
There is a subscription fee – $1/month for beginners, $3/month for advanced users, and $9/month for pros. Each account comes with a Stock-Back Card and $1,000 of life insurance.
In other words, this is the app for those who want to stop investing casually and get serious about their finances.
The best apps for learning about stocks on iPhone
Now that we’ve covered the major apps for trading stocks on iPhone, it’s time to cover the other side of investing: Education.
If you don’t know what you’re doing, investing can be a huge risk. This is especially true for those trying to time the market or get in on trends like the GME short in early 2021.
The truth is that most everyday investors don’t have the experience to make informed decisions on complex trading situations like these. Most probably don’t even know how to properly diversify their portfolio.
Fortunately, you can remedy this and become an educated investor using the apps below. These will teach you how to invest as well as keep you informed on the state of the stock market.
1. Learn: How to invest in stocks
First up on our list of educations apps for stocks on iPhone is Learn. Learn is an app that I covered in my Best Of iOS Apps for February. The reason I included it there is because I believe that anyone interested in investing should work through this app.
The Learn app doesn’t ask for any money or information from you – it’s free, no strings attached. In the app, you’ll find six sections:
- Why Invest?
- Finding Great Companies
- Looking Deeper
- Your Investing Life
- Getting Started
Each one of the sections is packed with lessons for you to work through. As you make progress, you’ll see that progress tracked at the top of the app. It’s simple, easy, and will get you educated on investing quickly. If you’re new to investing, I recommend working through this app while investing small amounts in a beginner-friendly app like Cash App.
2. Stocks by Apple
Next, we have a super simple app that comes on your iPhone by default: Stocks by Apple. This app combines real-time data on stock fluctuations across the market with trending news in the world of business.
You can easily swipe through and customize your preferences for each of these components of the app. And, since Stocks is integrated with Apple’s devices, you can easily set up widgets on your Apple Watch and iPhone to make monitoring your shares easier.
There’s not much more to say about it – just a great app for those who want to monitor their investments.
Another great app for learning how to use the stock market is the Best Brokers Stock Market Game. As the name implies, this is just a game – you never actually interact with the stock market.
However, this app does simulate the stock market in real-time with real stocks. This means that you can participate in the market without actually investing any money into it. This is a great way to see how your decisions would pay off (or not pay off) if you were to invest actual cash.
It’s also a great tool to start understanding the basics of the stock market, like how trades work, the difference between a stock and a share, and more. By experimenting with these things, you can develop the skills that will help you become a better trader.
Next is the CNBC app. This app provides the latest news and information for stocks on iPhone. You’ll be able to see top-performing stocks from the homepage, read news articles, create watchlists, track your performance, and much more.
Because this app is backed by CNBC, you’ll know that your information is coming from a credible, trusted source. It’s also updated several times a day by professional reporters, so the data is not only reliable but relevant, too.
Other than that, there isn’t any trading functionality in the app. It’s purely for tracking the market as well as your investments and seeing how the relationship between the news and the stock market works.
5. Apple Books
Lastly is one of my all-time favorite apps, Apple Books. If you don’t know, Apple Books is just the default book store available on iPhone. You can purchase and read books on it on all of your Apple devices.
The reason I bring this app up is that reading is one of the best ways to go from a decent trader to a great one. There are so many resources for all skill levels that you can educate yourself with this app indefinitely.
If you’re new to finance and investing in general, I recommend starting with I Will Teach You How To Be Rich. Despite the gimmicky title, the book is filled with helpful information in an easy-to-understand format. It’s made a huge impact on the way I manage my finances and is a great resource for beginners.
Start investing in stocks on iPhone today
Hopefully, you feel more than prepared to start investing after reading this article. Investing in the stock market has a reputation for seeming risky, difficult to understand, something for the wealthy to do, and overall just intimidating.
But the truth is that anyone can participate with as little as a dollar. Generating a passive income is one of the most important ways to improve your financial situation regardless of your income level.
Thanks for reading, and be sure to check out the rest of our posts here at AppleToolBox.