If you’re familiar with the social investor network called StockTwits, then you may have heard of Trade App. Trade App has been years in the making – a trading platform that compliments their awesome investing social network. Trade App is designed to rival popular free trading apps like Robinhood and WeBull. But with all major brokerages offering $0 commissions now, is it worth it?Check out how Trade App compares to the best places to invest. Read our Trade App review below.
Trade App is a commission-free mobile trading app created by StockTwits. StockTwits is a popular social platform where traders share news, share trading ideas, and interact with each other. Members are also rated for their trading ideas, allowing them to establish a reputation.The platform says it is a great way for anyone to learn more about trading. StockTwits has over 150,000 posts per day. The CEO of StockTwits is Ian Rosen.ST Invest LLC (d/b/a Trade App) is a wholly owned subsidiary of StockTwits, Inc. securities.With a target audience already in hand, StockTwits decided it was time to create a trading platform for its members, which it calls Trade App. Trade App was approved by the SEC on 3/4/2019. It is registered in all 50 states and Puerto Rico.StockTwits has always been an educational platform. Trade App allows StockTwits members to take action on what they’re learning. “We [saw] companies that were basically giving extremely sophisticated tools for free, to anyone, and not really giving any education on how to use them,” Rosen told Benzinga in an interview. “It’s the equivalent of handing a flamethrower to an 8-year-old.”“We built Trade App to create a better experience for investors and traders of all levels. Self-directed doesn’t have to mean self-destructive, and we believe the key to success likes in not relying solely on yourself,” Rosen stated in a press release.
Trade App offers commission-free trading. In an age where nearly all brokers have commission-free trading, why would anyone use yet another trading app? Commission-free trading is not the only thing Trade App has to offer. With the commission-free playing field now leveled, Trade App’s biggest draw is its social trading aspect.With a huge following, over two million registered members in 2019, StockTwits has a lot of knowledgeable members who enjoy sharing what they know. Like any social platform, there are people who add value and some not so much. StockTwits lets you cut through the noise by following people that have great reputations. These people are trusted by the community for their trading insights.Trade App just became publicly available in early 2020. You can get the app here https://tradeapp.me. Trade App is a mobile app. Notes posted on the website have changed since earlier this year. At one point, there was mention of Trade App also having a desktop/browser version, but that no longer appears on the site. Fractional shares trading was previously mentioned as well, but has since been removed.From the app screenshots, it looks as though you’ll be able to approve which trades you want to show to the community. The app will allow you to mark up trades with notes and drawings. Your dollar and percentage gains will also be calculated and posted for you. As well, you’ll be able to record video commentary for your trade and post it right next to your notes. This all makes the app very engaging.
The fee schedule has been removed from the site, so it isn’t clear what fees will be involved.There won’t be any trading commissions, of course. When the fee schedule was last posted, it did list fees for wire transfers. However, ACH transfers were free.
You can open an account at https://tradeapp.me.
Yes — StockTwits is a FINRA- and SIPC-registered company. Brokerages are not FDIC-insured. Instead, SIPC insurance protects customer funds, although not in the same way that FDIC insurance protects deposits.
For the social aspect — definitely. For the trade-free commissions, there isn’t any compelling reason to use Trade App since nearly every brokerage now offers trade-free commissions. If you are looking to enhance your trading education and interaction with other traders while trading live, Trade App will allow you to do that on one platform. For many, that alone may be worth it.