How to choose an app for buying US stocks? Comparison of 6 major investment platforms and trading guide

In recent years, Taiwanese investors have become increasingly active in the US stock market. As the variety of apps for buying US stocks grows, choosing a suitable trading platform becomes the first step in investing. This article will help you understand the core factors in platform selection and introduce six mainstream US stock investment apps, while also answering common trading questions.

Key Factors to Consider When Choosing a US Stock Buying App

When you decide to purchase US stocks, selecting the right trading tool is crucial. A suitable app should consider the following four dimensions:

Reasonableness of trading costs

Frequent traders are especially sensitive to trading fees. Many brokers now offer zero-commission trading models, but you should also pay attention to:

• Hidden charges: Some platforms charge fees for withdrawals, transfers, or specific operations; be sure to clarify these in advance
• Spread impact: Even without commissions, bid-ask spreads can affect your actual returns

User experience and platform features

The ease of use of a US stock app directly impacts trading efficiency. When evaluating, focus on:

• Interface design: A simple and intuitive interface can speed up order placement, especially during market volatility
• Analysis tools: Technical analysis enthusiasts should choose platforms that offer rich charts and indicators
• Practice mechanisms: Demo trading features allow beginners to familiarize themselves with operations risk-free
• Execution efficiency: Order execution speed is critical for timing trades

Accessibility of customer support

Problems are inevitable during trading; high-quality customer service can significantly reduce frustration:

• Real-time communication: Online chat can quickly resolve issues during busy trading hours
• Phone support: Complex issues may require direct conversation for efficient resolution
• Email service: Non-urgent issues can be handled via email

Security and regulatory protection

When choosing a US stock buying app, fund safety is the top priority:

• Regulatory certification: Ensure the broker is licensed by relevant financial regulatory authorities
• Data encryption: SSL encryption, two-factor authentication, and other security measures should be standard

Detailed Comparison of Six Major US Stock Investment Platforms

Mitrade: A simple, user-friendly platform suitable for beginners

Mitrade is a CFD broker focusing on global asset trading. As a US stock app, it is known for its clean, intuitive interface, with a zero-commission model and flexible leverage to attract new users.

The platform covers diverse assets including US stocks, Hong Kong stocks, forex, indices, and cryptocurrencies. Built-in risk management tools such as take-profit, stop-loss, trailing stops, and negative balance protection ensure losses do not exceed the initial investment. Users can first experience a free demo account to familiarize themselves before trading live.

Highlights: Flexible leverage, diverse assets, simple operation

Potential limitations: CFD risks, lack of some advanced features

InteractiveBrokers: The choice for professional investors

Founded in 1977, InteractiveBrokers has stood the test of time with stability. It offers a comprehensive product line including stocks, options, futures, and forex.

Fees are calculated per share, regardless of stock price, based on the number of shares purchased. Larger trading volumes mean cost advantages. However, its complex interface is more suitable for experienced professional traders, making it less convenient for beginners as a US stock app.

Highlights: Wide product range, low fees, professional tools

Limitations: Complex interface, steep learning curve

Charles Schwab: A veteran financial service provider

Founded in 1971, Charles Schwab manages assets worth $3.72 trillion and is one of the world’s largest discount brokers. After acquiring TD Ameritrade in 2019, it reduced stock, ETF, and options trading commissions to zero.

Schwab integrates TD Ameritrade’s advanced trading platform Thinkorswim, offering abundant resources suitable for all investors. However, managing multiple platforms may cause inconvenience, and new clients need to adapt to platform transitions.

Highlights: Zero commissions, rich resources, stable brand

Limitations: Multiple platform management, higher minimum deposit requirement

Firstrade: A pioneer founded by Chinese-American Liu Jinhang

Founded over 30 years ago in New York by Liu Jinhang, Firstrade was among the first to implement zero commissions.

As an online platform dedicated to US stock trading, Firstrade features a simple, user-friendly interface, ideal for long-term investors. The account opening process is straightforward and quick, but active traders may find its features insufficient. Some users report slow customer support responses and withdrawal fees to watch out for.

Highlights: Easy account opening, friendly interface, diverse products

Limitations: Limited analysis tools, slower customer support

Webull: A new social trading platform

Founded in 2017 by former Alibaba and Xiaomi employees, Webull quickly gained market share in US and Hong Kong stocks with its zero-commission policy. Trading US stocks, Hong Kong stocks, options, and cryptocurrencies is all free of charge, greatly reducing costs.

Its social features allow users to share trading strategies and market insights. Besides stocks and ETFs, it also offers options and cryptocurrencies. By 2022, it had over 35 million users worldwide. However, some products like bonds and futures are not yet available.

Highlights: No-commission trading, social interaction, diverse assets

Limitations: Product range to expand, relatively short platform history

FUTU: A leader among Hong Kong-based online brokers

Founded in 2012, FUTU is a Hong Kong online broker offering US stocks, Hong Kong stocks, funds, futures, and forex. Listed on NASDAQ in 2019, it demonstrates stability and growth potential.

Its fee structure is similar to InteractiveBrokers, charging per share ($0.0049 per share, minimum $0.99). This is friendly for large investors, but small investors may find it less cost-effective. The platform features a user-friendly interface, rich educational resources, and timely market information.

Highlights: User-friendly interface, diverse products, comprehensive education resources

Limitations: Minimum fee structure, some product features lacking

Common Questions About US Stock Trading

How much initial capital is needed?

Most brokers mentioned have no minimum deposit for taxable accounts. Opening an account and buying even one share plus trading commissions can start your investment. Choosing a zero-commission platform significantly lowers the entry barrier.

How to diversify a portfolio with limited funds?

Stock index CFDs are an option. If choosing individual stocks is difficult, consider investing in index products like Dow Jones, Nasdaq, or DAX to diversify risk through index investing.

How long does it take from opening an account to the first trade?

Demo accounts are very quick to set up. For example, with Mitrade, filling out basic information allows instant access and a demo account with $50,000 virtual funds. The formal account opening process is similarly simple and fast.

How to determine if a platform is suitable for you?

Consider your available capital, desired asset classes, trading style and technical needs, expected trading frequency, and customer support requirements. First, test with a demo account to familiarize yourself with trading procedures and strategy execution, then decide whether to proceed with live trading.

How to calculate trading costs on a US stock app?

Many online brokers now advertise zero commissions, but intraday trading may involve hidden costs such as routing fees, market data fees, and platform charges. Carefully review fee disclosures before trading.

How to verify a broker’s regulatory compliance?

Online brokers operating in the US are regulated by the SEC and must be members of FINRA and SIPC. To verify, visit the broker’s official website footer and check their regulatory disclosures.

Summary

Choosing the right US stock app does not have an absolute “best” solution; it depends on matching individual needs. Beginners should start with simple, intuitive platforms; active traders should prioritize fee structures and analysis tools; conservative investors should focus on platform stability and regulatory credentials. Fully testing with a free demo account and then transitioning to live trading after gaining familiarity is a prudent approach.