When I think of a stock trader, I picture someone working at a desk with a computer — and maybe multiple monitors full of charts and market data. But another platform is rapidly supplanting the desktop trading battlestation for many retail investors.
The average American checked their phone
186 times per day
in 2025
. Advanced trading requires lots of attention — and we pay more attention to our phones than just about anything else.
Brokers know this, and in recent years a growing number of them have built out mobile app platforms with advanced trading capabilities.
What makes a good stock trading app?
All of the platforms listed below offer the following features, which we consider to be the table stakes for an app for advanced traders:
-
Free stock trades:
Only a few of the brokers reviewed by BW still charge commissions for stock trades, and you won’t find any on this page (although Interactive Brokers gives users the option to pay very small commissions for faster order execution). Many of the brokers on this page also offer free option trades. -
Fractional shares:
All of the brokers on this page allow you to buy less than 1 full share of a stock, thereby giving you more control over position sizing. Many brokers now allow investors to buy as little as $1 of a stock, although some have higher minimums. -
Strong UX:
We didn’t just look at ratings to judge these brokers’ apps — we also tested them ourselves, opening accounts and placing trades on our own phones. All of the brokers here earned top or near-top scores on our mobile user experience rubric.
Beyond those criteria, the best stock trading app for
you
will vary based on which features you consider most important. So, we’ll start with the three apps that are all best-in-class for a particular feature. Read on to see what each one stands out for — and also where each one falls short.
Our three favorite stock trading apps
Lowest average margin rates: Robinhood
Robinhood has arguably done more than any other broker to make trading via phone app popular, and it continues to be a leader and an innovator among mobile brokers.
If you’re the kind of trader who likes to use leverage (that is, borrowed money) to enhance your potential returns, and you can tolerate the risks that come with it, there’s another reason to love Robinhood: it offers the lowest average margin rates of any broker we review. Both the high end and the low end of its rates (which vary based on balance) are almost as low as you can go. There are a couple of brokers whose
lowest
rates are lower, but these often require very high balances, in the hundreds of thousands of dollars or even higher.
Other trading features that stand out about Robinhood:
Robinhood is also a standout for another kind of high-risk move that day traders often like: cryptocurrency trading. Robinhood has the widest crypto selection of any stockbroker we review, and it’s one of the few stockbrokers that offers features like staking and send/receive capabilities in its crypto offering.
Where Robinhood falls short for traders:
Unlike some of its competitors, Robinhood does not have any kind of basket-trading feature. You can only buy or sell one investment per order. Also, if you like to trade
bonds
, you may find Robinhood lacking: They’re only available in the form of bond ETFs.
👉 See how we rate Robinhood’s fees, features, and minimums
Instant withdrawals will incur a fee of 1.75% of the amount withdrawn, with a minimum fee of $1 and a maximum fee of $150.
Ally Invest: Ally Invest offers low-cost trades, a user-friendly platform, and a wide range of investment options. However, it lacks advanced trading tools and research compared to some competitors. [Read full review]
Robinhood: Robinhood is known for its commission-free trades and easy-to-use interface, making it a popular choice for beginner investors. However, it lacks some advanced features and research tools that more experienced traders may desire. [Read full review]
Charles Schwab: Charles Schwab is a well-established brokerage with a wide range of investment options and a user-friendly platform. It offers commission-free trades on stocks and ETFs, but options trading does have a fee. [Read full review]