Mobile trading has transformed how retail traders interact with markets. What once required a desktop computer and expensive software can now be done from your phone while waiting in line for coffee. This guide compares the best mobile trading apps and helps you choose the right one.
The Rise of Mobile Trading
Mobile trading apps have democratized market access. You can research, analyze, and execute trades from anywhere with an internet connection. For swing traders and investors, this flexibility is invaluable. Even day traders use mobile apps to monitor positions when away from their desks.
Important consideration: While mobile trading is convenient, it has limitations. Serious analysis and fast execution still benefit from larger screens and stable connections. Use mobile trading strategically, not as your only platform.
Best Mobile Trading Apps
Robinhood
Robinhood pioneered commission-free mobile trading and remains one of the most popular apps for beginners. Its clean, simple interface makes trading accessible.
Robinhood Highlights
- Best for: Beginners and casual traders
- Commission: Free for stocks and options
- Strengths: Clean interface, easy to use, instant deposits
- Weaknesses: Limited research tools, basic charting
- Options: Supported with basic functionality
Webull
Webull offers more advanced features than Robinhood while maintaining commission-free trading. It appeals to traders who want more analysis tools.
Webull Highlights
- Best for: Intermediate traders wanting more features
- Commission: Free for stocks and options
- Strengths: Better charting, paper trading, extended hours
- Weaknesses: Can feel cluttered, customer service concerns
- Options: Supported with Level 2 data available
TD Ameritrade Mobile
TD Ameritrade offers two mobile apps: the standard TD Ameritrade app for basic needs and thinkorswim mobile for advanced traders.
TD Ameritrade / thinkorswim Mobile Highlights
- Best for: Active traders, especially options traders
- Commission: Free stocks, $0.65/contract for options
- Strengths: Powerful charting, full options chains, education
- Weaknesses: Steeper learning curve
- Options: Excellent with full strategy support
Fidelity Mobile
Fidelity's app combines trading with comprehensive account management. It is particularly good for long-term investors who also trade occasionally.
Interactive Brokers (IBKR Mobile)
IBKR Mobile offers professional-grade trading on mobile. It supports complex orders and provides global market access.
Interactive Brokers Mobile Highlights
- Best for: Professional traders, global markets
- Commission: Low, varies by asset and volume
- Strengths: Global access, complex orders, low margin rates
- Weaknesses: Complex interface, less beginner-friendly
- Options: Full support with all order types
E*TRADE Mobile
ETRADE offers two apps: ETRADE for everyday use and Power E*TRADE for more active traders with advanced charting and analysis.
TradingView Mobile
While not a broker, TradingView's mobile app provides excellent charting and analysis. You can connect it to supported brokers to execute trades directly from charts.
Key Features to Compare
Order Types
Basic apps offer market and limit orders. More advanced apps support stop-loss, trailing stops, OCO (one-cancels-other), and conditional orders. Make sure your app supports the order types your strategy requires.
Charting Capabilities
Mobile charting varies dramatically. Some apps offer basic line charts while others provide full technical analysis with dozens of indicators and drawing tools.
Real-Time Data
Most broker apps provide real-time quotes. Some free apps show delayed data unless you pay for an upgrade. Verify data timing before relying on an app for active trading.
Options Trading
If you trade options, check that the app supports your strategies. Can you trade multi-leg strategies? Are the options chains easy to navigate on a small screen?
Alerts and Notifications
Good mobile apps let you set price alerts and receive push notifications. This is essential for monitoring positions when away from your computer.
Mobile Trading Best Practices
Secure Your App
- Enable biometric authentication (Face ID or fingerprint)
- Use a strong, unique password
- Enable two-factor authentication
- Do not trade on public WiFi without a VPN
- Keep your phone and app updated
Know Your Limitations
Mobile screens are small. Complex analysis is harder. Execution may be slower. Accept these limitations and adjust your trading accordingly:
- Use mobile for monitoring, not detailed analysis
- Stick to simple strategies when trading mobile
- Have a desktop backup for serious trading sessions
- Double-check orders before submitting on small screens
Manage Distractions
Your phone is full of distractions. Notifications, messages, and other apps compete for attention. When trading:
- Enable Do Not Disturb mode
- Close other apps
- Find a quiet place to focus
- Never trade while driving or in situations requiring attention
Warning: The convenience of mobile trading can lead to overtrading. Just because you can trade from anywhere does not mean you should. Stick to your trading plan regardless of what device you use.
When to Use Mobile vs Desktop
Good for Mobile
- Monitoring existing positions
- Setting and managing alerts
- Quick check of market conditions
- Executing pre-planned trades
- Managing simple swing trades
Better on Desktop
- Detailed technical analysis
- Options strategy analysis
- Day trading with fast execution needs
- Multi-chart setups
- Backtesting and research
Choosing the Right App for You
For Beginners
Start with Robinhood or Webull. Both are free, easy to use, and let you learn without complexity overwhelming you. As you develop, you can add more sophisticated platforms.
For Options Traders
TD Ameritrade's thinkorswim mobile is hard to beat for options on mobile. The full options chains and strategy support rival desktop platforms.
For Active Traders
Consider IBKR Mobile or thinkorswim if you need professional features. The learning curve is steeper but the capabilities match.
For Research-Focused Trading
Fidelity's app combines trading with excellent research. If you value analysis and education alongside trading, it is worth considering.
Track Your Mobile Trades Automatically
Pro Trader Dashboard syncs with Robinhood to track all your trades automatically. Whether you trade on mobile or desktop, see your complete trading history and performance analytics in one place.
Summary
Mobile trading apps have made markets accessible to anyone with a smartphone. For monitoring positions, executing planned trades, and staying connected to markets, mobile apps are invaluable. However, they are best used as a complement to desktop trading, not a replacement. Choose an app that matches your trading style, prioritize security, and remember that the goal is profitable trading, not just convenient trading.
Want to analyze your trading performance? Check out our guide on trading journal software or learn about setting up effective alerts.