Investing in the best apps for buying stocks has never been easier. Online stock trading programs have taken over from traditional brokers, making it so that one can purchase and sell shares without ever having to leave their home or spend a cent on brokers’ fees. This is great news for investors who want to get into the best apps for buying stocks but don’t know how or where to start – all they need is an internet connection and some money.
However, with this ease of access comes a lot of risk. Some sites will espouse a ‘top 10 best apps for buying stocks’ that will steal your data, make you lose your money, and even take off with your identity if given half the chance. It’s important not to be too trusting when looking at which platform to utilise, and not to always trust the top 10’s you find out there, even for the best apps for buying stocks.
Luckily, we’re here to help you take that first step into best apps for buying stocks. To do this we’ve compiled this article that outlines a few places to start your search, along with some red flags you should watch out for when looking at best apps for buying stocks.
Starting Your Search
When you begin your search for the best apps for buying stocks, the first step is choosing which type of platform to use; there are two main types – online and mobile applications. Online platforms offer users all they need in one place, including quotes, news feeds, and real-time market data on specific companies’ prices.
These programs allow investors to buy shares directly through the website by paying either an extra fee or commission per transaction made using its platform/tools or alternatively pay nothing if making regular trades under certain conditions.
Then there are the mobile platforms, which have become synonymous with convenience and on-the-go investing that is rife in modern society. Oftentimes the mobile platforms will be an offshoot of the aforementioned websites, but there are some that are standalone.
Making Your Selection
The best apps for buying stocks will provide you with clear, concise information that’s easy to understand and navigate through. Most online platforms also come equipped with tools such as customizable charting, watch lists or portfolios so users can monitor their investments at all times which is very important in staying on top of share movements.
The best apps for buying stocks should be free of charge and allow people to add funds easily. They also need to have a very clear statement on when fees are charged, how often they’re deducted from the account balance and what kind of fees apply when selling or withdrawing money.
A Few Red Flags To Be Wary Of
When making your final decision, keep an eye out for a few red flags that may suggest a platform to avoid. First, if the best apps for buying stocks are not regulated by regulatory bodies then it may be wise to look elsewhere. Second, while most sites will have a customer service number and email address, do they provide them prominently on their website? Finally, you should never pay more than $30 in fees per month (in Australia this would usually cover around 30-40 trades) – any higher and you’re likely paying too much.
The best apps for buying stocks can make investing easy but there’s no denying that using them comes with risks attached that need to be mitigated whenever possible. By taking extra care when choosing an app and following these tips we believe you’ll end up with one of the best available.