Mobile Trading Apps for Stocks, Forex, and Crypto

Mobile trading apps make investing accessible to everyone. Whether you're trading stocks, forex, or cryptocurrencies, these apps bring the markets to your fingertips. With features like commission-free trading, social trading tools, and advanced analytics, platforms like eToro, Robinhood, XM, and IG Trading cater to both beginners and experienced traders. Here's a quick rundown:

• eToro: Best for social trading with CopyTrader and access to 6,000+ stocks. Crypto trades cost 1%, and inactivity fees apply after 12 months.
• Robinhood: Perfect for beginners with commission-free trades and a simple interface. Offers 4.00% APY on uninvested cash for Gold members but lacks advanced tools.
• XM: Focused on forex and CFDs, offering competitive spreads and educational resources. Limited stock options may not suit casual traders.
• IG Trading: Ideal for professionals with access to 17,000+ markets and fast execution. Fees can be complex, and 71% of retail accounts lose money trading CFDs.

Quick Comparison

Choosing the right app depends on your goals. Beginners might prefer Robinhood's simplicity, while experienced traders may lean toward IG Trading's extensive market access.

Best Mobile Trading App 2024

1. eToro

eToro is a platform that serves over 35 million users worldwide, blending traditional trading with social features. It offers access to a variety of financial markets right from your mobile device.

Tradable Assets

eToro provides access to over 3,452 stocks, 385 ETFs, and 58 cryptocurrencies. Beyond stocks and ETFs, users can trade forex and invest in cryptocurrencies. However, crypto trading is not available in certain locations, including New York, Nevada, Hawaii, Puerto Rico, and the US Virgin Islands. Let's take a closer look at its fee structure to better understand the costs involved.

Fees and Costs

eToro’s fee structure depends on the asset being traded. Stock trading is commission-free in most regions, while crypto trades carry a 1% fee each way. Forex spreads start at 1 pip. Some countries, like Australia, Denmark, and Spain, may incur per-trade fees ranging from $1 to $2. Additional charges include a $5 withdrawal fee (with a $30 minimum) and a $10 monthly inactivity fee after 12 months of no activity. Currency conversion typically includes a 0.5% markup.

These fees provide a snapshot of what traders can expect when using the platform.

Key Features

One of eToro’s most notable features is its CopyTrader system, which allows users to automatically replicate the trades of successful investors. This social trading tool earned eToro the title of "Best Social Trading Platform" from Forbes Advisor in 2024. The mobile app offers real-time market data, portfolio management tools, and advanced charting with technical analysis indicators. Security features such as two-factor authentication enhance user protection. For beginners, a $100,000 demo account is available to practice trading strategies.

In March 2023, eToro added an interest-on-cash feature for Options account holders, offering a 3.90% APR on cash balances for those with at least $5,000 in at-rest cash. Additionally, its Popular Investor program allows experienced traders to earn income when others copy their trades.

"eToro is not just a place to invest online - it's also the ideal platform to engage, connect, and share strategies." – eToro

These features make eToro particularly appealing to both novice and active traders who value a mix of social tools and straightforward analytics.

User Experience

eToro is celebrated for its user-friendly design, earning the #1 Ease of Use rating from ForexBrokers in 2024. It also holds a TrustScore of 4.2 based on 27,877 reviews. The mobile app is intuitive, making it easy to switch between asset classes and manage trades efficiently.

That said, 51% of retail investor accounts lose money when trading CFDs with eToro. While many users praise the platform for its simplicity and social trading features, some have reported occasional login issues and unexpected fees. Overall, eToro is a solid choice for those seeking a mix of traditional and social trading options, though advanced traders might find its tools somewhat limited.

2. Robinhood

Robinhood has reshaped the trading landscape with its user-friendly, commission-free platform, designed specifically for mobile users and everyday investors.

Tradable Assets

Robinhood provides access to a variety of assets, including U.S. stocks, ETFs, and over 50 cryptocurrencies. For customers in the EU, the platform offers trading for more than 200 U.S. stock and ETF tokens, such as NVIDIA, Microsoft, Apple, and the Vanguard S&P 500 ETF, with trading available 24/5. EU users can also engage in crypto perpetual futures trading.

"Our latest offerings lay the groundwork for crypto to become the backbone of the global financial system."

• Vlad Tenev, Robinhood Chairman and CEO

These trading options are paired with a straightforward pricing model, which is explained below.

Fees and Costs

Robinhood's fee structure is simple and transparent. The platform offers commission-free trading for stocks, ETFs, options, and cryptocurrencies, although regulatory and service fees still apply. For instance, Robinhood Gold, a subscription service offering benefits like margin trading and a 4.0% interest rate on uninvested cash, is available for $5 per month. Standard margin rates are 6.75%, but Gold members get a 0% annual charge on the first $1,000 borrowed and an 8% rate for amounts exceeding that.

Additional fees include:

• Options contract fee: $0.50 per contract
• Outgoing ACAT transfer fee: $75
• Paper statement fee: $5
• Trading Activity Fee: $0.000166 per share on equity sales and $0.00279 per options contract (capped at $8.30 per trade)

Starting July 1, 2025, a new Consolidated Audit Trail fee will be introduced at $0.0022 per options contract and $0.0000265 per share for NMS equities.

Key Features

Robinhood's mobile-first design ensures a smooth and intuitive trading experience. One standout feature is fractional share investing, which allows users to buy portions of high-priced stocks with small amounts of money. Robinhood Gold also provides a 3% IRA contribution match, similar to an employer's 401(k) match.

The platform has made crypto trading more accessible, as highlighted by Johann Kerbrat, GM and SVP of Robinhood Crypto:

"Crypto was built by engineers for engineers, and has not been accessible to most people. We're onboarding the world to crypto by making it as easy to use as possible - with the goal of bringing powerful tools into one intuitive platform."

Other notable features include 24/5 trading for U.S. stock tokens in the EU, support for dividends, and no added spreads on these instruments.

User Experience

Robinhood's user-friendly design has earned it a 4.5/5 rating from NerdWallet and the #7 spot among 14 brokers. Its mobile-first approach resonates particularly with younger investors. Louis Feldsott, a Data Analyst, shares his perspective:

"I've been using Robinhood since they launched... Their platform was developed to be mobile-first, so the app is clean and easy to use."

While the platform is ideal for new and passive investors seeking basic trading tools, experienced traders might find its research and analytical features somewhat limited.

3. XM

XM serves over 10 million clients worldwide, offering a range of trading opportunities across various asset classes. It's particularly appealing to traders who want to diversify their portfolios beyond traditional stock investments.

Tradable Assets

XM provides access to over 1,400 assets, covering stocks, indices, forex, commodities, and cryptocurrencies. For stock enthusiasts, XM features big names like Amazon, Meta, and Tesla, alongside major indices such as the Dow Jones, Nasdaq, and S&P 500. The platform also includes thematic indices focused on emerging sectors like AI and Blockchain.

Forex traders can choose from major, minor, and exotic currency pairs. The commodities section offers precious metals like gold and silver in both spot and futures CFD formats, as well as energy trading options. Cryptocurrency CFDs are available, though availability may vary depending on regional regulations.

Fees and Costs

XM accommodates different trading styles through four account types:

• Micro and Standard: Commission-free with spreads starting at 1.0 pip.
• Ultra Low: Spreads from 0.6 pips and no commissions.
• Zero: Zero pip spreads with a $3.50 commission per lot per side.
• Shares: Designed for U.S. stocks, requiring a $10,000 minimum deposit and charging $0.04 per share (minimum $1).

The platform maintains a transparent fee structure. There are no deposit or withdrawal fees for most methods, though bank wire withdrawals under $200 come with a $15 charge. An inactivity fee of $5 per month applies after 90 days of no account activity. Additionally, XM boasts impressive execution speeds, with 99.35% of trades processed in under one second.

Key Features

XM's mobile app has a 4.3/5 rating on Google Play, based on over 85,300 reviews. It supports more than 23 languages and offers advanced charting tools with over 90 trading indicators, enabling detailed market analysis. The app is compatible with both MT4 and MT5 platforms, giving traders the flexibility to choose their preferred trading environment. Fast and reliable order execution ensures minimal delays and eliminates re-quotes for a smoother experience.

The platform also includes copy trading, trading competitions with cash prizes, free trading signals, and a variety of educational tools, making it suitable for both beginners and seasoned traders. Mobile-specific features such as customizable account settings, adjustable leverage, notifications, and the ability to make deposits and withdrawals directly from the app allow for complete account management on the go.

These tools make XM a solid option for traders who prioritize flexibility and convenience in multi-asset trading.

User Experience

XM's mobile app delivers a polished user experience, earning accolades like Most Reliable Broker (Global), Best Customer Support, and Best Trading Experience. The app is compatible with iOS devices running version 15.0 or later and Android devices with version 7.0 or later. A free demo account is also available, allowing new users to explore the platform before committing real funds. Customer support is easily accessible directly through the app for added convenience.

One notable feature highlighted by a user review is that the bonus feature remains active even if the account balance turns negative. With its wide range of assets, competitive pricing, and robust mobile functionality, XM stands out as a comprehensive platform for traders looking for a seamless and versatile trading experience.

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4. IG Trading

IG Trading is a platform designed for serious traders, offering extensive market access and tools that cater to professional needs. With access to over 17,000 financial markets via their mobile app, IG provides one of the most diverse trading experiences available.

Tradable Assets

IG Trading opens the door to a wide range of assets across various categories. For equity traders, there are over 13,000 shares available, with extended trading hours to take advantage of opportunities outside regular market times. Forex traders can explore more than 90 currency pairs, including popular ones like EUR/USD and GBP/USD.

For those interested in indices, IG offers over 80 global indices, such as the US 500 and FTSE 100. The commodities section includes 27 major commodities, from precious metals like gold and silver to energy products like oil.

When it comes to cryptocurrency, the platform provides two options: trading 11 major cryptocurrencies and two crypto crosses through CFDs, or spot crypto trading via a partnership with Uphold. Additionally, IG offers the Crypto 10 index, which tracks the top ten cryptocurrencies by market capitalization.

Next, let’s break down the fee structure that comes with trading these diverse assets.

Fees and Costs

IG Trading offers a transparent fee structure, though costs vary depending on the asset class and trading method. Opening an account is free, but traders should be aware of the associated costs.

For forex trading, spreads start as low as 0.6 points for key currency pairs, with an average of 1.04 points for EUR/USD. Major indices have spreads starting from 0.8 points, while the FTSE 100 maintains a steady 1-point spread. Commodities trading features tight spreads, starting at 0.1 points, with spot gold at 0.3 points.

Share CFDs are priced on a commission basis. For U.S. stocks, the commission is 2 cents per share, with a $15 minimum. UK shares are charged 0.10%, with a £10 minimum, and European shares follow the same percentage with a €10 minimum.

Cryptocurrency trading through IG Crypto comes with a 1.49% flat spread for buying and selling. Additional costs include overnight funding for positions held past 10 p.m. UK time, a 0.8% currency conversion fee, and optional tools like ProRealTime Charts, which cost $40 per month.

71% of retail client accounts lose money when trading CFDs with IG. However, IG’s advanced execution technology ensures 98.3% of market orders are filled within 0.014 seconds across all platforms. Later sections cover the platform’s risk management tools designed to help traders navigate these challenges.

Key Features

IG Trading stands out with its advanced tools and user-friendly features. The mobile app, which has a 4.1-star rating on Google Play Store based on 21,400 reviews, offers professional-grade functionality. Traders can access advanced charts, indicators, and analysis tools to make informed decisions wherever they are.

The app also includes essential features like stop-loss and take-profit orders, customizable watchlists, and real-time alerts for effective risk management. It supports weekend trading on major indices and forex pairs, as well as extended hours for shares, making it suitable for traders with varying schedules. Multi-device compatibility ensures a seamless experience across desktop, tablet, and mobile platforms.

For security, the platform uses 256-bit SSL encryption and offers biometric login options. IG also provides CFD trading with direct market access for traders employing more sophisticated strategies.

User Experience

IG Trading has earned recognition as an award-winning platform, receiving accolades such as "Best Multi Platform Provider" and "Best Finance App" from the ADVFN International Financial Awards.

"IG offers an excellent fit for both small traders and market professionals, with competitive spreads, thousands of trading instruments, and a state-of-the-art news, research and educational portal. IG's educational tools are superior to any of the other online brokers Investopedia has researched."

User feedback highlights the platform’s ease of use and quick trade execution. However, some users have noted occasional issues with charts not loading properly.

IG also invests in trader education, offering in-depth articles, tutorials, and webinars to help users improve their financial knowledge. This focus on education makes IG Trading a solid choice for traders who want to sharpen their skills while using professional-grade tools.

With an average execution time of 0.0107 seconds and a TrustPilot rating of 3.9/5, IG Trading continues to deliver a reliable and efficient trading experience.

Advantages and Disadvantages

Here's a breakdown of the strengths and weaknesses of the platforms reviewed earlier, offering a side-by-side comparison to help you decide which one aligns with your trading goals.

eToro stands out for its social trading capabilities, particularly through its CopyTrader feature, which allows users to mimic the trades of experienced investors. With access to over 6,000 stocks across 20 exchanges (19 of them international) and a low $200 minimum investment, it’s a solid option for those looking to diversify their portfolio via a mobile-friendly platform. However, eToro charges a 1% fee on crypto trades for both buying and selling, doesn’t offer retirement account options, and lacks support for short sales - factors that might deter advanced traders.

"eToro is a social investing platform first, and a brokerage second. The platform is built around community engagement, with discussions, sentiment indicators, and copy trading leading the experience." - Jessica Inskip, Director of Investor Research

Robinhood provides a simple, beginner-friendly platform with commission-free trading for stocks, ETFs, options, and cryptocurrencies. For Robinhood Gold members, the platform offers a 4.00% APY on uninvested cash and enhanced IRA matching of 3%, compared to 1% for standard users. The app’s user-friendly design has earned it high ratings - 4.3/5 on the Apple Store and 4.2/5 on Google Play. However, its lack of advanced research tools and absence of access to international markets limit its appeal for more seasoned investors.

XM caters primarily to forex and CFD traders, offering competitive spreads, strong educational resources, and effective risk management tools on its mobile platform. It supports multiple account types to suit different trading styles, but its focus on forex and CFDs means limited access to stocks, which may not suit casual or beginner investors.

IG Trading delivers a professional-grade experience with access to over 17,000 financial markets and execution times averaging just 0.0107 seconds. It also supports weekend trading and extended hours, making it a go-to option for active traders. However, its complex fee structure can eat into profits, especially for smaller accounts, and 71% of retail accounts reportedly lose money when trading CFDs.

In Q3 2024, Robinhood showcased strong execution quality, with 95.18% of orders filled at the National Best Bid and Offer (NBBO) or better. Meanwhile, eToro’s NerdWallet rating of 3.4/5 reflects its niche focus on social trading rather than traditional brokerage services.

When it comes to security, the platforms differ significantly. eToro has no reported breaches, while Robinhood has experienced a notable security incident in the past. On the customer support front, Robinhood offers 24/7 live chat and phone support, a feature that sets it apart from eToro’s more limited support options.

Understanding these differences can help you choose the platform that best matches your trading needs and goals.

Conclusion

Finding the right mobile trading app depends on your experience level, trading goals, and personal style. For beginners, Robinhood stands out with its easy-to-use interface and commission-free model. In fact, 65% of Robinhood users made their first trade within 24 hours of opening an account. While its simplicity is ideal for newcomers, it lacks the advanced research tools that seasoned traders often need.

If you're drawn to social trading or cryptocurrency, eToro might be a better fit. Its CopyTrader feature and 1% crypto commission make it attractive to community-focused investors and crypto enthusiasts. However, professional traders often require more advanced tools and broader asset options, making platforms like IG Trading a stronger choice. IG offers extensive research tools and access to a wide range of instruments, though its complexity may deter casual investors.

Ultimately, choosing between platforms like eToro, Robinhood, XM, and IG Trading comes down to aligning their features with your specific needs.

"Look for the app that's going to give you enough of the information that you need to be able to make a wise decision when you're trading stocks." – Kaysian Gordon, MBA, CFP, CDFA, CPA, and Wealth Manager

Define your goals - whether you're focused on long-term growth, day trading, or retirement planning - and choose a platform that complements those objectives. For beginners, commission-free apps work well, while experienced traders may benefit from full-service platforms offering advanced tools.

Equally important is prioritizing security. Look for platforms that offer two-factor authentication and comply with regulatory standards. Before committing funds, consider testing a demo account to ensure the platform fits your needs.

For a deeper dive into trading apps and investment tools, check out the Best Investing Tools Directory at https://bestinvestingtools.com. This resource covers everything from trading software to charting tools, helping both individual and institutional investors make informed decisions.

It’s worth noting that 78% of beginner investors reported that user-friendly interfaces made it easier for them to start their investment journey.

FAQs

What should I consider when choosing between eToro, Robinhood, XM, and IG Trading for investing?

When comparing eToro, Robinhood, XM, and IG Trading, it's important to weigh factors like regulatory safety, available assets, fees, and platform features to find the right fit for your trading style.

• eToro: Known for its social and copy trading features, this platform is a great option for beginners or those exploring international markets. Keep in mind, though, that it comes with higher fees for CFDs and withdrawals.
• Robinhood: Offers commission-free stock trading on a straightforward, user-friendly platform. While appealing for its simplicity, it has faced some criticism over certain business practices.
• IG Trading: This platform stands out with a diverse selection of financial instruments, including options and interest rate products. Its strong regulatory framework makes it a solid choice for traders with varied interests.
• XM: Tailored for forex and automated trading enthusiasts, XM is a go-to platform for those focused on currency markets.

The best platform for you will depend on your investment goals, the assets you want to trade, and your budget. Whether you value low fees, ease of use, or access to specific markets, choose the one that aligns with your priorities.

How do fees and costs of mobile trading apps affect your overall trading profits?

The fees and costs associated with mobile trading apps can have a big impact on your overall trading success. Apps that offer low or no trading fees, like commission-free options, can help you save money - something that’s particularly important for traders who make frequent transactions. On the flip side, apps with high fees or hidden charges can quickly eat into your profits, making it tougher to reach your financial targets.

To keep your earnings intact, it’s important to pick apps with clear and competitive pricing. This way, you can avoid unnecessary expenses and ensure that trading costs don’t overshadow your gains. Take the time to go through the fee details carefully so you know exactly how they might affect your bottom line.

What risks should I be aware of when using mobile trading apps for CFDs or cryptocurrencies?

Trading CFDs or cryptocurrencies through mobile apps involves major risks, largely due to their unpredictable price swings and the use of leverage. Prices can shift dramatically in a short time, and leverage amplifies both profits and losses. This makes trading a highly speculative activity that isn't ideal for everyone.

On top of that, cryptocurrency CFDs carry counterparty risks. If the broker becomes insolvent or fails to fulfill its obligations, you could face financial losses. The unpredictable nature of cryptocurrencies adds another layer of risk, increasing the chance of rapid monetary setbacks. It's essential to grasp these risks fully and only trade with money you can afford to lose.

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