menu

Mobile Trading Apps 2017

Blain Reinkensmeyer

Published by Blain Reinkensmeyer


Tuesday, February 21st, 2017

Best Brokers for Mobile Trading Summary

Based on 52 different variables, here is a summary of the top five broker apps (iPhone, Android) for mobile trading.

Mobile Trading Broker Apps

Trading and accessing client information via mobile devices continues to rise, and brokers are betting big on the future. Today, nearly every online broker has resources devoted to mobile development, which is no surprise. The rapid development and growth of Instagram, Snapchat, and similar services have attracted hundreds of millions of users, and usage continues to skyrocket. More visitors access Facebook each day via their mobile devices than they do with a PC.

Despite the fact that most brokers have had mobile apps for many years, the door is still wide open for brokers to innovate. Many online brokers are wagering that mobile investing isn’t just about viewing a portfolio, maintaining a basic watch list, and placing simple trades. Instead, they are working to bring the full trading experience to mobile, including trade tools, advanced order types, detailed charting, complex options, cloud syncing, and much more.

Looking at the results, TD Ameritrade was our winner, earning 95% of the possible points in this category and unseating long time mobile champion E*TRADE.

No single broker has “cracked the code” to the ultimate mobile investor experience yet, but many are nearing it. With 52 different variables being assessed for mobile trading alone, scoring high marks is no walk in the park. We conducted all our tests on iOS devices, and focused primarily on the iPhone.

Looking at the results, TD Ameritrade was our winner, earning 95% of the possible points in this category and unseating long time mobile champion E*TRADE. TD Ameritrade stands out for offering two separate apps, Mobile and Mobile Trader, and caters them to traditional investors and active traders, respectively. Mobile Trader is the ultimate experience for traders, with an extensively deep offering.

TD Ameritrade Mobile Trader stock quote

On the innovation front, investors in 2016 witnessed the launch of support for Amazon Echo. By the end of the year, two brokers, TD Ameritrade and Fidelity, had approved Amazon Echo skills. Our testing this year didn’t incorporate specific features of the Amazon Echo; however, based on Amazon’s ratings, it appears TD Ameritrade has the lead in delivering a diverse, quality experience.

Fidelity had the most unique new feature of 2016 with the launch of its personalized feed experience.

Continuing innovation, Fidelity had the most unique new feature of 2016 with the launch of its personalized feed experience. Upon logging into the Fidelity app, clients are greeted by a personalized stream of portfolio and watch list analysis, market news and research, alongside updates on not only the US markets but the international markets as well. The feed backdrop is a beautiful scenery image that rotates each time the app loads.

Fidelity mobile custom feed

While some functionality such as real-time streaming quotes, charting with multiple indicators, and synced watch lists are now pretty much industry standards, other functionality remains less common. Only 31% of the industry offers conditional orders, just 38% of the industry supports comparisons of the performance of multiple stocks on the same chart, and still only 50% of the industry supports basic stock alerts.

TD Ameritrade Mobile Trader stock chart

On the positive side, the vast majority of the industry supports the primary mobile platforms with iOS and Android. Every broker across the industry but two – Lightspeed and ChoiceTrade are the only two brokers that do not offer a mobile app at all – offers an iPhone and Android smartphone app. For tablets, 63% offer an iPad app, while an Android tablet app remains far less common as only five brokers (31%) offer one. Our favorite tablet app in 2017 is Fidelity.

The process of placing orders continues to become easier for clients, thanks to innovations with order entry functionality. Placing regular stock trades and single leg option trades is now a breeze, regardless of the broker used, and complex options are making headway. Filling in an order ticket for a four legged spread trade can be tricky on a PC, let alone trying to trade one on a tablet or smartphone. Several brokers are taking innovative steps to make the process seamless, and we are very excited to see which route becomes the industry standard over the next few years.

All in all, the world of mobile trading continues to evolve and grow. While online brokers have come a long way from where they were even a year ago, there is still ample room for innovation.

Continue Reading

1 TD Ameritrade Logo
Mobile Trading

Trade free for 90 days + get up to $600 - Learn More

Open Account
2 E*TRADE Logo
Mobile Trading

Announcing $6.95 Online Equity & Options Trades. Join today! - Learn More

Open Account
3 Fidelity Investments Logo
Mobile Trading

Get 300 commission-free trades and 2 years to use them - Learn More

Open Account
4 OptionsHouse Logo
Mobile Trading

Trade Commission-Free For A Full 90 Days! - Learn More

Open Account
5 Interactive Brokers Logo
Mobile Trading

Trade on over 100 market centers in 24 countries - Learn More

Open Account

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each other’s services and products. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading privileges subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options. Offer valid for one new Individual, Joint or IRA TD Ameritrade account opened by 09/30/2017 and funded within 60 calendar days of account opening with $3,000 or more. To receive $100 bonus, account must be funded with $25,000-$99,999. To receive $300 bonus, account must be funded with $100,000-$249,999. To receive $600 bonus, account must be funded with $250,000 or more. Offer is not valid on tax-exempt trusts, 401k accounts, Keogh plans, Profit Sharing Plan, or Money Purchase Plan. Offer is not transferable and not valid with internal transfers, accounts managed by TD Ameritrade Investment Management, LLC, TD Ameritrade Institutional accounts, and current TD Ameritrade accounts or with other offers. Qualified commission-free Internet equity, ETF or options orders will be limited to a maximum of 250 and must execute within 90 calendar days of account funding. Contract, exercise, and assignment fees still apply. Limit one offer per client. Account value of the qualifying account must remain equal to, or greater than, the value after the net deposit was made (minus any losses due to trading or market volatility or margin debit balances) for 12 months, or TD Ameritrade may charge the account for the cost of the offer at its sole discretion. TD Ameritrade reserves the right to restrict or revoke this offer at any time. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Please allow 3-5 business days for any cash deposits to post to account. Taxes related to TD Ameritrade offers are your responsibility. Retail values totaling $600 or more during the calendar year will be included in your consolidated Form 1099. Please consult a legal or tax advisor for the most recent changes to the U.S. tax code and for rollover eligibility rules. (Offer Code 264) TD Ameritrade Inc., member FINRA/SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2016 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission.