Exactly why are people flocking to trading apps? Here are three attributes of investing using a trading and investing app instead of a traditional broker.

1. Stock investing apps often provide the most advanced trading features

Regarding revenue, stock investing apps pale in comparison with big brokers.

But much of these big brokers don’t succeed in their offerings of latest trading features, like fractional share trading, competitive cash sweep programs and instant buying power. Fractional share trading allows you to invest with a specific dollar amount, frequently as little as $1, as opposed to having to buy in with the company’s full share price. Before fractional shares, many can’t invest in pricey companies like Microsoft or Google’s parent company, Alphabet.

Then there are cash sweep programs, that offer traders and investors an approach to build an income on their own uninvested cash, with many platforms offering as much as 5% APY on idle cash. Meanwhile, instant buying power is really a feature that provides customers instantaneous access to to a specific dollar amount with their deposit to do business with as an alternative to needing to wait days for their money to clear.

Some big brokers have already been including modern trading features like robo-advisors and fractional stock trading. But trading and investing apps still seem to have the edge in the state-of-the-art features.

2. Most traditional brokers don’t offer immediate access to cryptocurrency; trading apps do

Though it’s retracted significantly in the last year or two, cryptocurrencies’ global value neared $3 trillion in November 2021, evidence that it’s not a dismissable fad however a considerably more mainstream form of investment.

A case in point that President Biden issued an executive order in March 2022 directing federal agencies to report policy suggestions about regulatory and legislative actions linked to developing digital assets.

Moreover, progressively more Americans see crypto being a worthy investment. Roughly 34% say crypto is a superb investment, up 2 percent from July, when Finder last ran its survey, or higher from 17% in January 2023.

Most traditional brokers still don’t offer access to crypto.

If you want to put money into this nascent asset, you need a free account with a crypto exchange or trading and investing app, generally.

3. You’d be hard-pressed to find a slimmer trading experience compared to a regular trading app

While trading and investing apps are playing catch-up to big brokers when it comes to available tradable assets, traditional brokers lag behind stock investing apps in terms of offering intuitive, user-friendly mobile trading platforms. Traditional brokers offer mobile phone applications, though they’re clunky in comparison to mobile-first brokers.

Mobile-first trading platforms prioritize the aesthetics from the trading platform. The trading experience is easy and intuitive – stock trading apps shine by causing it increasingly easy to sign up for an account and start investing. So when 40% of non-investors worldwide not invest because they don’t discover how or find investing too confusing, simplicity is ever more important.

Stock investing apps can be a wonderful solution to the uninvested who are afraid to speculate.
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