If you are interested in trading any kind of asset – from Forex to crypto, you need a reliable trading platform by your side. In the past, traders had to stick behind their computer screens to be able to track the markets, but this is not the case anymore. There is a wide variety of mobile trading apps available for free to traders nowadays. This enables them to track the movements of the markets on the go and open and close the most beneficial positions without being stationary all day!
However, there are many apps to pick from, so much so that it might be overwhelming for some! In fact, it is beyond the scope of the current article to examine all of them. We have covered the top 5 most popular trading apps in the US on Apple’s AppStore, but the results for the ones on the Google PlayStore might vary. What’s more, we define a trading app as an app that allows its users to open and close positions. This might seem obvious, but searching for the apps returned a lot of results, some of which were banking apps and investment apps.
With that in mind, and without further ado, let’s jump into it:
5. Stash
Coming in fifth place, Stash is a mobile banking app that has expanded its services outside of allowing them to hold their funds. Indeed, clients of Stash can now buy, hold and sell crypto assets, as the app doubles as an investment service as well.
The app ranks at 4.3/5 stars across over 73 000 ratings. Users that have reviewed the app mention the fact it is quite suitable for beginner investors and that it has a clean interface – this is a definitive advantage, as the number of retail investors has only grown in recent days. On the other hand, users that have had a negative experience with the app and rate it negatively have mentioned a long timeframe in which the withdrawals are processed.
4. Robinhood
The next app on our list is Robinhood. This is a name that is certainly familiar to someone who has considered dealing with cryptocurrency trading or has held some asset in the past. Robinhood is one of the first apps that allowed its clients to buy and sell crypto assets like Bitcoin, Ethereum, and Dogecoin without paying any kind of commission. Robinhood had also become the center of several controversies, when the firm was accused of encouraging unprepared investors to trade with assets that were too volatile, and then once more when the firm was fined for its continued system outages.
On the other hand, at the time of writing, Robinhood ranks high across its userbase, with a score of 4.2/5 stars. The users of the trading app mention the fact that the platform has gotten them into trading and that its educational section makes it possible for clients to pick up the required knowledge to trade without incurring heavy losses.
3. Crypto.com
Crypto.com is the first app on our list that seeks to target the crypto market as a whole. The app does not allow traders to invest in shares, for example. This denotes the continued interest in crypto assets among the retail trader. What was once seen as an exotic way to trade, at least compared to Forex and Commodities trading, for example, has quickly become mainstream.
Thus, Crypto.com ranks third on our list. The app boasts of a wealth of coins that its clients can trade – more than 200 assets are available to them. What’s more, Crypto.com takes the safety of its clients and the task of combating financial crime seriously and requires compliance with some rather advanced KYC policies, like a mandatory two-factor authentication.
As for the reception of the app, it’s near 74 000 ratings put it at 4.3/5 stars. Clients that leave positive reviews of Crypto.com mention the customer support of the company is quite stellar. On the other hand, negative reviews mainly have to do with long processing times for transactions.
2. Coinbase
Coinbase is an app that is once again focused only on crypto assets. It allows its clients to trade some of the most popular assets like Bitcoin and Ethereum, and many more. The app, in particular, also has an in-built section on the current trends in the crypto market, which allows its clients to make full use of their latest moves. This is helpful to the many retail investors and people who are not intimately familiar with crypto yet have the app downloaded.
The number of such clients on the Coinbase app has sharply risen following a marketing campaign for the platform during the most recent Super bowl. The platform rented ad space during the half-time of the most popular US sports event and ran an ad that proved to be so successful that the app crashed due to the influx of new users.
As for the experience of the uses on the platform, it is ranked at 4.7/5 across the staggering 1.6 million rankings, which is an incredible score.
1. Cash App
Finally, the most popular trading app in the States in April 2022 is Cash App. This app does it all – it allows its clients to use it as a mobile banking app with them easily able to send and receive money. It has access to a formidable investment service, and, most importantly, it allows the trading of crypto assets! The app boasts the prestigious #1 spot in the Finance section of the AppStore.
Its userbase is both vast and dedicated – Cash App has received more than 2.1 million rankings on the AppStore to date, with an average rating of 4.7/5 stars. The users of the app mention the incredible convenience Cash App has brought to their lives, thus warranting its top spot in this list.
Honorable mentions: Metatrader 4 and MT5
Finally, a list of trading apps would not feel complete without mentioning the two platforms that started it all – Metatrader 4 and Metatrader 5. These platforms are the choice for many traders and brokers alike, with a clean interface and a powerful set of features, among which automated trading. Even though they have been losing popularity and have fallen out of the top 5 due to their competitors, the platforms are still excellent. They have a dedicated user base on the AppStore as well, with MT5 ranking at 4.7/5 stars across 14 600 ratings.
We have included the platforms because we consider them well worth checking out, even if they are not the most popular at the moment.
