THE 6 BEST AMERICAN ONLINE TRADING APPS IN 2024 (2024)

Online trading grows ever popular by the year. In 2023, over 150 million Americans traded online. Choosing the right trading platform is essential to success. This post reviews the 6 top American online trading apps for 2024.

THE RISE OF ONLINE TRADING APPS

Advancements in mobile technology fueled a surge in retail trading apps. Top providers like ETRADE, Robinhood, and Webull see millions of active monthly users. Intuitive design made self-directed trading easy for novices.

Lower barriers of entry also helped. Many top apps offer commission-free trades. This enabled those with limited capital to invest. Trading apps made markets accessible virtually anywhere, too.

Key Takeaway: Online trading platforms saw an explosive rise thanks to better technology and lower barriers. Top apps catering to retail traders now have millions of monthly active users.

KEY FEATURES TO CONSIDER IN A TRADING APP

Many trading platforms exist today. When selecting one, consider these vital features:

• User Interface – An intuitive, clean interface improves ease of use. It keeps navigation simple while providing necessary data. It also ensures a smooth trading experience across desktop and mobile.
• Security – Stringent security protocols like encryption and multi-factor authentication are necessary. They help protect personal data and accounts from breaches.
• Real-time Data – Platforms should provide real-time streaming quotes and market data. Enables reacting swiftly to price changes when trading or managing positions.
• Trade Execution – Seamless order placement and fast trade execution are critical. They can mean the difference between profit and loss when volatility strikes.
• Costs – Account minimums, commission fees per trade, and margin rates all vary greatly across platforms. Compare costs closely to avoid cutting into profits.
• Customer Support – Timely issue resolution matters when trading. Around-the-clock customer service through various channels is vital.
• Tools & Research – Robust tools like screeners and advanced charts should be available. Educational resources are also helpful for new traders.

Key Takeaway: When evaluating trading apps, it is essential to consider user interface, security, market data capabilities, and order execution quality. Costs, customer service, and tool availability are also key factors.

TOP 6 AMERICAN ONLINE TRADING APPS IN 2024

After extensive research, these emerge as the six best US trading apps to use in 2024.

1. ETRADE

ETRADE, a long-time leader in retail stock trading, ETRADE offers a full suite of investment products, from stocks and ETFs to mutual funds.

Key Pros:

• Complete range of securities and accounts on offer
• Great research, education, and trading tools
• Good customer service reputation

Potential Cons:

• Higher fees than some discount brokers
• Heavyweight desktop focus