Trading
Few brokerage firms permit investors to trade all kinds of investments with their mobile apps. TD Ameritrade offers the most trading options, allowing investors to trade stocks, exchange-traded funds, options, futures and forex while using its app or mobile site; mutual funds can also be traded using the mobile web site. It has also developed the most apps that cover the biggest range of platforms: the iPhone, iPad, Android, BlackBerry and Windows mobile.
Limitations exist with the other brokerage firms. Schwab has a mobile web browser and apps for the iPhone and Android through which investors can trade stocks, ETFs, mutual funds and options. the company says it will roll out an iPad app later this year and will evaluate whether to add more features based on customer needs. Fidelity, which has an app for the iPhone, iPad and Android, and web browser for all smartphones, allows investors to trade stocks, mutual funds, ETFs and options. Scottrade says its clients can trade the same investments on the go as they can at a computer — including stocks, ETFs, mutual funds, options, and bonds — on its iPhone, Android or BlackBerry app or on its mobile web browser for all smartphones.
E*Trade also has mobile web browsers as well as apps for the iPhone, Android and BlackBerry and the iPad and iPod Touch, and its clients can trade stocks, ETFs and options — but not mutual funds, futures or forex. E*Trade says it will roll out mutual fund trading early next year.
From there trading options dwindle. with ShareBuilder’s app, investors can only trade stocks and ETFs. the company says it will launch options trading via its app soon. At Vanguard, they’re limited to mutual funds, though the company says it will roll out stock trading later this year.
Some brokerages don’t permit trading because they don’t have a mobile app or mobile browser that allow investors to trade while on the go. To trade, customers of Wells Fargo’s WellsTrade can only do that on a desktop computer. the company says they can use its mobile banking app to view brokerage accounts, balances and transfer money. It plans to launch a mobile web browser next year.
Data & Charts
Investors can expect certain sets of data and research with most brokerage firm apps. the standard offerings include real-time prices on investments — as opposed to, say, a stock’s price an hour ago — and access to analyst reports and the latest news. Many apps allow investors to set up watch lists, where they can see up-to-date trading prices for a specific list of investments.
Some firms’ apps go a step further. with some, an investor can request to be notified when a certain stock hits a specific price with a text message alert. E*Trade, which offers this service, features an alert that pops up on the iPhone even when its app is closed. Muriel Siebert, which offers a mobile browser but no app (it plans to introduce one next year), allows investors to set up alerts for a wide range of topics, including broker upgrades or downgrades, earnings releases and news alerts on foreign markets. Also, E*Trade’s Android app features an RSS feed that lists just-published stories on topics or companies an investor has requested. TD Ameritrade says it plans to launch an economic calendar on its app this month that notifies investors about daily reports.
In addition, some firms’ apps provide a plethora of data: At TD Ameritrade and smaller broker Zecco, which had a mobile browser for all smartphones and an iPhone app (it plans to roll out an Android app this year), that includes advanced charting to track an investment’s performance in comparison to other investments, indices or sectors. and E*Trade provides charts on quarterly earnings and future estimates in addition to filtering data, like top year-to-date performers.