Best trading app to earn money in us for beginners

Quick Answer

If you're looking for the best trading app overall, Robinhood stands out for its simple design, commission-free trading, and beginner-friendly experience. Plynk is an excellent choice for first-time investors who want an easy way to start investing. Most leading apps, including Robinhood, Webull, Fidelity, Charles Schwab, and SoFi Invest, offer zero-commission stock and ETF trading. For long-term investing and retirement planning, Fidelity is one of the strongest choices thanks to its low-cost index funds, powerful research tools, and wide range of investment accounts.

In today's digital age, trading apps have revolutionized the way individuals invest in the stock market. For beginners in the United States, choosing the right trading app can be crucial to successfully earning money. This guide aims to provide a detailed look at some of the best trading apps available, focusing on ease of use, features, costs, and overall effectiveness for newcomers. We'll also include proven statistics and facts to help you make an informed decision.

What to Look for in a Trading App

Before diving into the specific apps, it’s important to understand what makes a trading app suitable for beginners. Here are some key features to consider:

1. User-Friendly Interface: The app should be easy to navigate, even for those with no prior experience in trading.
2. Educational Resources: Quality apps offer tutorials, articles, and videos to help users learn about trading.
3. Low Fees: Beginners should look for apps with low or no commission fees to maximize their earnings.
4. Variety of Assets: Access to a diverse range of investment options, such as stocks, ETFs, and cryptocurrencies, is beneficial.
5. Customer Support: Reliable customer service can be a lifesaver for beginners who may need help troubleshooting issues.
6. Security: The app should have robust security measures to protect users' personal and financial information.

Top Trading Apps for Beginners in the US

1. Robinhood – Best Overall Trading App

Robinhood changed the way millions of people started investing by making stock trading simple and commission free. If you're opening your first investment account or want an app that's easy to use every day, Robinhood is one of the strongest options available.

The app keeps things straightforward. You can buy stocks, ETFs, options, and even cryptocurrencies from a clean, easy-to-navigate interface. It also supports fractional shares, so you don't need a large amount of money to start investing. While experienced traders may want more advanced research tools, Robinhood does exactly what most beginners need without adding unnecessary complexity.

Key Features

• Commission free trading for stocks, ETFs, and options

• Fractional shares starting with a small investment

• Simple and intuitive mobile app

• Real time market data and price alerts

• Cryptocurrency trading on supported assets

• Recurring investments for long term wealth building

• Robinhood Gold membership with premium research and margin features

Pros

• Easy enough for first time investors

• No commission on eligible stock and ETF trades

• Clean and fast mobile experience

• Supports fractional investing

• Quick account setup and funding process

Cons

• Research tools are limited compared to full service brokerages

• Fewer investment products than some competitors

• Advanced traders may outgrow the platform

Best For

Beginners, casual investors, and anyone looking for a simple way to buy stocks, ETFs, and other investments without paying trading commissions. 

2. Fidelity – Best for Long Term Investors

If your goal is to build wealth over many years instead of chasing short term market moves, Fidelity is hard to beat. It combines low investment costs, excellent research, and a wide range of account options in one platform. Whether you're investing for retirement, saving for your child's education, or building a diversified portfolio, Fidelity gives you the tools to do it with confidence.

One of its biggest strengths is its lineup of Zero Expense Ratio Index Funds, which help investors keep more of their returns over time. You can also buy fractional shares, making it possible to invest in leading companies without needing hundreds of dollars upfront.

Key Features

• Fractional shares for investing with any budget

• Traditional IRA, Roth IRA, and other retirement accounts

• Zero Expense Ratio Index Funds

• Professional grade market research and investment screeners

• Cash Management Account with debit card and bill pay

• Highly rated customer support available by phone and chat

Pros

• No commission on online stock and ETF trades

• Excellent choice for long term investing

• Powerful research tools for every experience level

• Wide range of retirement and investment accounts

• Trusted brokerage with decades of experience

Cons

• Mobile app has more features than most beginners need

• Advanced trading tools take time to learn

Best For

Long term investors, retirement planning, dividend investing, and anyone looking for a trusted brokerage with low costs.

3. SoFi Invest – Best All in One Financial App

SoFi Invest is more than a trading app. It brings investing, banking, saving, loans, and financial planning together in one place. If you prefer managing your money through a single app, SoFi makes that surprisingly easy.

You can choose between Active Investing if you like picking your own investments or Automated Investing if you'd rather let a professionally managed portfolio do the work. That flexibility makes SoFi a great option for both beginners and hands off investors.

Key Features

• Active Investing and Automated Investing accounts

• Commission free stock and ETF trading

• Fractional shares

• Traditional IRA and Roth IRA accounts

• Access to ETFs and diversified portfolios

• Banking integration with checking and savings accounts

Pros

• Easy to use mobile app

• Combines investing and banking in one platform

• Great for beginners and long term investors

• Automated portfolio options available

• No commission on eligible stock and ETF trades

Cons

• Fewer advanced trading tools than professional platforms

• Limited research compared to some traditional brokerages

Best For

Investors who want to manage banking, investing, and long term financial planning from a single app.

4. Plynk – Best for New Investors

Getting started with investing can feel overwhelming, but Plynk keeps things simple. The app focuses on helping beginners learn while they invest, making it easier to build confidence with every step.

Instead of filling the screen with complicated charts and trading tools, Plynk offers a clean interface, educational resources, and straightforward investing options. It's designed for people who want to start small and learn as they go.

Key Features

• Clean and beginner friendly interface

• Educational content that explains investing in simple language

• Fractional investing with small amounts of money

• Goal based investing to match your financial objectives

• Easy account setup and portfolio management

Pros

• Very easy to navigate

• Great educational experience for first time investors

• Low barrier to getting started

• Supports fractional investing

• Helps users stay focused on long term goals

Cons

• Limited advanced trading features

• Not ideal for experienced active traders

Best For

New investors, college students, and anyone who wants a simple way to start investing without feeling overwhelmed.

5. Webull

Overview: Webull is another great trading app for beginners, offering a wide range of features at no cost.

Features:

• Commission-Free Trading: Like Robinhood, Webull offers commission-free trading for stocks, ETFs, and options.
• Advanced Tools: Webull provides more advanced charting tools and technical indicators, which can be beneficial as beginners gain experience.
• Paper Trading: This feature allows users to practice trading with virtual money, helping them learn without risking real money.
• Extended Trading Hours: Webull users can trade during pre-market and after-hours sessions.

Statistics:

• Webull has over 10 million users.
• The platform supports trading on over 5,000 US stocks and ETFs.

Pros:

• Commission-free trades.
• Advanced trading tools.
• Paper trading feature.

Cons:

• More complex interface compared to Robinhood.
• Limited educational resources.

6. E*TRADE

Overview: E*TRADE is a well-established broker that offers a robust trading app suitable for beginners.

Features:

• Commission-Free Trading: E*TRADE offers commission-free trading for stocks, ETFs, and options.
• Extensive Research Tools: Users have access to in-depth research reports, analysis, and market insights.
• Educational Resources: E*TRADE provides comprehensive educational materials, including webinars and articles.
• Diverse Investment Options: In addition to stocks and ETFs, E*TRADE offers mutual funds, bonds, and futures trading.

Statistics:

• E*TRADE has over 5 million users.
• The average account balance is significantly higher than other beginner-focused apps.

Pros:

• Extensive research and educational resources.
• Wide range of investment options.
• Reliable customer support.

Cons:

• The app can be overwhelming for absolute beginners.
• Some advanced features come with additional costs.

7. TD Ameritrade

Overview: TD Ameritrade’s trading app, thinkorswim, is known for its comprehensive features and educational support, making it a strong choice for beginners.

Features:

• Commission-Free Trading: The app offers commission-free trading for stocks, ETFs, and options.
• Educational Resources: TD Ameritrade provides a vast library of educational content, including videos, articles, and webinars.
• Paper Trading: thinkorswim includes a paper trading feature to practice without financial risk.
• Advanced Trading Tools: The app includes advanced charting tools and technical analysis features.

Statistics:

• TD Ameritrade has over 12 million client accounts.
• On average, clients execute over 800,000 trades per day.

Pros:

• Extensive educational resources.
• Paper trading feature.
• Advanced trading tools.

Cons:

• The interface can be complex for beginners.
• Some features may require a learning curve.

Proven Stats and Facts

1. Growth of Online Trading: According to Statista, the number of US online brokerage accounts grew from approximately 99 million in 2019 to over 121 million in 2021, reflecting the increasing popularity of trading apps.
2. Rise of Retail Investors: A report by Charles Schwab indicated that new-to-investing clients made up 15% of total retail trading volume in 2020, showcasing the influx of beginners in the market.
3. Market Participation: A survey by Pew Research Center found that 53% of American adults had invested in the stock market as of 2020, highlighting the widespread interest in trading.

Tips for Beginners

1. Start Small: Begin with a small investment to understand the market dynamics without risking significant amounts of money.
2. Educate Yourself: Utilize the educational resources provided by trading apps to learn about different investment strategies and market trends.
3. Diversify Your Portfolio: Spread your investments across various assets to mitigate risks.
4. Stay Updated: Keep up with market news and trends to make informed decisions.
5. Practice with Paper Trading: Use paper trading features to practice without risking real money.

Conclusion

Choosing the right trading app is crucial for beginners looking to earn money in the US stock market. Apps like Robinhood, Webull, E*TRADE, TD Ameritrade, and Fidelity offer user-friendly interfaces, educational resources, and low fees, making them ideal for novice investors. By understanding the features and benefits of each app, and leveraging the available resources, beginners can confidently start their trading journey and work towards financial growth. Remember to start small, educate yourself, and diversify your investments to maximize your chances of success in the trading world.