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Take a look below at the best stock trading apps for beginners to consider opening and using to trade stocks and ETFs. We highlight the best stock trading app for beginners and best stock app to start investing first.
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Webull first hit the investing world in 2018 and made a splash by offering free stock trading, as well as commission-free trading of exchange-traded funds (ETFs) and options. And since then, it has become one of the best stock trading apps for intermediate traders, though many of its features are helpful to beginner investors as well.
Regardless, Webull remains one of the best, and most cost-friendly, trading platforms you can come across. And on top of all the free features mentioned above, Webull also runs frequent promotions that allow investors to collect free stocks.
Moomoo is a commission-free trading platform for stocks, ETFs, and options. While Moomoo is best for advanced traders, offering powerful tools to empower your trading insights and strategies, it takes a different approach from other similarly targeted platforms, favoring simple interfaces and high ease of use. The desktop platform is highly customizable, while the mobile app is straightforward, allowing you to search for stocks and trade with minimal hassle.
Trades are executed by matching orders on the ECN with other available orders at the price you specify. Orders are ranked within the ECN first by price (better-priced orders first) and second by time (earlier orders at the same price level first). If a better price is available within a linked ECN, you may or may not receive the better price, depending on whether another order precedes yours.
President's Remarks view listen President's Economic Forum: Small Investor and Retirement Security SessionBaylor Law CenterBaylor UniversityWaco, Texas In Focus: President's Economic Forum 9:03 A.M. CDT THE PRESIDENT: Welcome to Texas. MR. HUBBARD: Nice to be here. THE PRESIDENT: Thanks for coming. MR. HUBBARD: It's a long ways; it's nice to be here. THE PRESIDENT: It is a long ways. It's going to be a great day.I appreciate you all being here and I look forward to hearing what youhave to say. MR. HUBBARD: Well, thank you, Mr. President and welcome toeverybody. I hope this will be a very good discussion this morning;certainly a very important topic. I just want to briefly tee up a couple of issues and then turn itover to my colleague Ann Combs and then to Chuck Schwab. You know, weall know that saving is about the future. And people typically thinkabout retirement saving, but there are many reasons that people save.And the flip side of that is that investing always comes back to ourguesses about the future -- you know, what are the economy'sfundamentals. And we all want to, and we want other people to own a piece ofsomething that's valuable. And, ultimately, the something that'svaluable is a piece of our vibrant economy. Just a couple of facts toset the stage. We saw a real upsurge in the economy's possibilities inthe past decade. We've had very good experience on our economy'sability to grow. And we think the administration's policies areobviously in that direction, as well. But with that vibrant economy has come also fairly vibrantfinancial markets. Over the past decade, household wealth grew from$25 trillion to more than $40 trillion. And most important in theminds, I think, of many people, we've moved more toward an ownershipsociety. A decade ago, stock ownership was something we talked aboutfor "the rich," or people somewhere. Now, more than half of Americans own stock. We've seen a majorshift in the way we structure retirement saving from defined benefitplans years ago to defined contribution plans and 401(k)-style plans.These are very welcome trends. But I don't have to tell people herethe story that, of course, recent equity price declines have calledinto question some of this. And some of these gains, as to whetherthey are gains. And many people have a lot of concerns, and thoseconcerns have to do with investor education and policies for risktaking. The administration, of course, has taken many steps under thePresident's leadership in this area. I'd like to turn to my colleague,Ann Combs, for a quick review, and then to Chuck. THE PRESIDENT: Ann, thanks. Good to see you. MS. COMBS: Thank you, Mr. President. I want to take just a fewminutes to describe some of the steps that you've taken, Mr. President,to restore confidence in our markets, to improve pension security andincrease opportunities for working Americans to save for theirretirement. Last year's tax bill, in addition to returning money to people whoearned it so that they have more of an opportunity to save alsoincreased the limits for what people could contribute to their 401(k)plans and their IRAs for the first time in many years. The Corporate Accountability Bill which you just signed willimprove transparency and go a long way towards restoring the confidencepeople need to have in the markets, so that they feel they can save fortheir retirement. And it also included two of your pension reformproposals that you released in February. Workers will now receive 30days advance notice before any black-out when they are unable to tradestock in their 401(k) plans. And executives will be prohibited fromselling stock if workers are being locked out of the ability to selltheirs. You have three other proposals that the House passed in April, thatwe're hoping will move this year, as well. One would give all workersthe right to diversify out of employer stock after three years, so thatthey couldn't be locked into investment and they'd have more rights todiversify. Better information about their investment options is part of yourplan, as well as access to professional investment advice. I thinkthat's something that's so important. Our pension system is the envyof the world, but people do need more opportunities, more tools so thatthey have the choices and the confidence and the control that they needto be able to save for a secure retirement. Your program, Mr.President, will make those improvements. Now, I'd like to introduce our speaker today. Chuck Schwab almostneeds no introduction at all. But he is, as you know, the Chairman andthe co-CEO of the Charles Schwab Corporation. Chuck has been in thesecurities business for 40-plus years. He works directly with ordinaryinvestors, starting his company in 1974 at the dawn of deregulation ofthe securities industry. Today, his company and its 18,000-plus employees serve 8 millioninvestor accounts that hold nearly $800 billion in assets. He operatesover 400 investment offices across the country and runs of the world'sleading investment websites. He's authored three books on investingand Chuck and his daughter, Carrie, are co-authoring a book due outlater this year about talking to your family about how to invest andmoney. So, welcome, and please -- MR. SCHWAB: Well, thank you, Ann, and thank you all participantsfor being here. And particularly thank you, our President. It's areal pleasure to have you here with us. It's a privilege to be able to participate in this forum today andI especially at this moment in time, when confidence of the Americanpublic -- in particular, American investors -- is at a very fragilepoint in our view. But as someone who has spent a lifetime in theinvestment world, I also understand that this is temporary. Marketsdon't remain down forever. They roll along and, as we know, ournation's stock market has taken a brutal correction, to say the least. But it still remains the best place, in my view, for individuals toinvest for the long term. And I think our 8 million customers youmentioned understand that, as well. To their credit, most investors haven't panicked. We see thatthrough our firm. I was talking to Mickey Siebert earlier, the samewith her clients. They still are, to their credit, do need, though,good, unconflicted help and advice is very important for our clientsand the investors at large. Fundamentally, this means, in my view, reuniting investors with thesimple principles of asset allocation diversification, which Annmentioned so much. So many employees throughout corporations simplydon't know the basics about investing. We need to do a lot of work ineducation. We need to reassure investors that a well diversifiedportfolio remains not only the best weapon against inflation, it's thebest vehicle for reaching their long-term personal goals. But, also,it's the best defense, in my view, against the issues like an Enron.With diversification, Enron can be just a small, teeny part of yourportfolio, not a major part. Over time, the stock market has out-performed all otherinvestments, as my friend, Mr. Siegel, Professor Siegel over here haswritten a wonderful book called "Stocks for the Long Run," hasillustrated through his groundbreaking research that stocks have alwaysbeen the best place to have your long-term assets. Yes, but there are ups and significant down periods. And some arequite painful as they are right now. The bear market that we'resuffering right now is probably one of the worst I have gone through,and it's not a comfortable place to be, to say the least. But we havegreat confidence about our future. Investors also need to know that government is on their side. AndI think our President, George W. Bush, and Congress have been doingexactly the right thing concerning corporate fraud. They address theissue head on. Another step that has been a requirement, that came out of all thisrecent legislation is that CEOs like myself will be certifying ourfinancial reports. We will be certifying ours today, as a matter offact. And I think most companies will be submitting theircertifications by deadline of tomorrow. I'm also pleased, Mr. President, that you and the Congress haveincreased the monies for the SEC by 66 percent. That will be what wereally need to bring some efforts in that area and you've done justexactly what we had hoped for. At the same time, we've got to encourage the Financial AccountingStandards Board, FASB as many people call it, to accelerate thedevelopment of a consistent system for valuing and expensing options.I'd like to set a target date of January 1, where all companies oughtto abide by the same process for expensing options, or we'll just havemore confusion in a nation by investors if we don't do a consistentmethodology. But the centerpiece of any effort to restore investor confidenceought to be a crackdown on the conflicts that have left investors sodistrustful of Wall Street and many banks related to Wall Street. Ultimately, in my view, the SEC and Congress should require theCEOs -- me, myself and others like me, and our chief complianceofficers of every brokerage firm and bank -- to certify that we haveabided by any new conflict of interest rules. We need to get to thatpoint. It is outrageous in my view what goes on in Wall Street on aconsistent basis. Just pick up any paper and you'll know what I'mtalking about. Other steps that policy makers should consider as soon as possibleinclude immediately allowing investor to deduct up to $20,000 againsttheir income for losses that they suffered in investment. It is still,right now, a meager $3,000. That is almost an insult, was set 20 or 30years ago. We also ought to reduce the double taxation on dividends, encouragecompanies to pay more in terms of dividends and reward long-terminvestors. Also, require corporations do a better job of educatingtheir employees about investing and retirement plans and about thedangers of over-concentrating in their employer stock. And, lastly, increasing the contribution limits on IRAs and401(k)s. We have that in your new tax bill, we ought to just get on,fast-track it and make sure it becomes permanent on the rates thatwe've already agreed upon. Mr. President, thank you very much for this opportunity to addressyou, and the rest of the participants. I'd like to turn this over toGlenn Hubbard. MR. HUBBARD: Thank you very much, John, for those openingremarks. Mr. President, did you -- THE PRESIDENT: Well, I think what caught my attention was thisbusiness about confidence. I'm spending some time in Crawford, Texas,I think about how people in Crawford look at Wall Street and thenumbers. And one of the things I hope that comes out of thisdiscussion, is how do we simplify the numbers so that people canunderstand what they're looking at. People in this part of the world get a little suspicious of thefine print. But, yet, a lot of them are now investing for the firsttime. And I think Chuck brings up a great point, is how can people notonly on the East Coast or the West Coast feel confident about what theysee, but all throughout America can feel confident about what they seeand hear. Part of it is -- I remember going, working a rope line in NewYork. And a business professor said, thank you for mentioning in yourspeech on corporate responsibility that business schools need to learnhow to teach right from wrong. Evidently there's this kind ofnervousness about being clear about teaching young MBAs right fromwrong. And a guy walked up to me and said, it was a laboring man, andsaid, well, the best way to teach a lesson is to put some of them inhandcuffs. That's the best way to send the message for corporateresponsibility -- which we're doing. So we'll enforce law, butconfidence is more than just government enforcing the law. Confidenceis an industry policing itself as well as understanding the newcustomer. And I'd be curious -- first of all, I love your ideas abouthow to account for loss and/or double taxation dividends. That makes alot of sense. But one other question I would have for the panelists, and lookforward to hearing the recommendations, is how do we take care of thenew investor. Chuck does a good job of it by recruiting them and thenhelping them invest. But throughout the system, how do we understandthat the nature of the investor has changed? A PARTICIPANT: Well, on that great question, I'd like to turnfirst, if I might, to you, Mickey -- Mickey Siebert, who is somebodywho has been a legend in this business -- and talk about how the newinvestor issues can be best addressed. MS. SIEBERT: Thank you. THE PRESIDENT: How do you like being known as a legend, Mickey?(Laughter.) MS. SIEBERT: As long as I'm a living legend -- (laughter.) THE PRESIDENT: You look living to me. (Laughter.) MS. SIEBERT: Mr. President, I saw something in my firm -- we're amini-Charlie Schwab -- and about three months ago I got a call from theguys in New Jersey and they said, we're seeing something new. I said,what's that? We are seeing people selling their stocks and they want acheck -- not going into money market funds, they want a check. I said,Pete, why don't you call them, because we have a habit of calling everyaccount that leaves the firm, asking them why are they leaving. Sothey answers came back on this group of people, and I get the listevery week: Don't trust the system; the system is against us. When I heard that, I said, okay, Mickey, you know some of thesepeople, go see them. And my first stop was Larry Lindsey for lunch. Italked to Mr. O'Neill. I spent a lot of time with Mr. Pitt and hisdeputies. I think one of the things we have to do, and I wrote an op edarticle, which was published last week, is to allow the individualinvestors to double their contributions to the 401(k)s and IRAs forthree to five years as a way to building up their retirement funds. Iget asked -- and I think they should be allowed to contribute stocks,bonds, any asset, cash or mutual funds, because not all of them havecash and they will not have cash. I get asked -- I was a keynote speaker for the Miami Daily Herald,and they fill up a convention center, and I got a question from a manthat had to be close to 90. "I've lost half of my money. Will they goto jail?" And I'm proud over the bill that you signed because they willgo to jail. I have another idea. There is something called derivatives. Theycan be very good if they are used to hedge interest rates orcommodities, and they can be lethal, they can be misleading. I havetestimony -- I testified against derivatives in 1988 after the '87market break. I testified against them after the long-term capitalmanagement. I would like to see the statements that CEOs have to sign. I wouldlike to see them sign, "These statements represent economic reality."It would take the derivatives that are phoney, that allowed the washtrading in Enron, the energy contracts which, if they traded over thecounter were illegal, if they traded on listed markets would be washsales. I think we could separate reality. The head of one of our two banks said they will never do contractsagain that mask debt. Two of our largest banks were doing prepaidforward contracts where the cash is up front and they were beingflipped around as revenues with no expenses against it. We cannotexpect individuals to read the paper every day about these things andsay, here's my money. We have done, in my opinion, a very good first series of steps. Wehave to do more in that. And then, frankly, I -- you know, I think thecorporate accountability bill is good, it's a major first step. I'dlike to see some additions. I frankly get very annoyed when I seecongress doing this. I frankly get annoyed when I see my attorneygeneral doing all of it. I think that we should be the one -- thefederal government should be the one, not particularly the congress.And I certainly volunteer my help, and I'm sure that anybody at thistable volunteers theirs. THE PRESIDENT: Well, thank you, Mickey. You bring up a veryinteresting point that Chuck alluded to. And that is, you know, youtalk about some of these fancy financial instruments being designed toinflate revenues, for example. And it takes a fairly sophisticatedsoul to find out what's going on. And the fundamental question, who isthat sophisticated soul, and it seems like to me the sophisticated soulis the recommenders of the stocks. And Chuck brought up a very goodpoint, and that is, the industry itself is culpable of not blowing thewhistle on practices that aren't -- that kind of deceive, I guess isthe best way to put it. And my question is, you know, apart fromgovernment, how best can industry police itself. How best for -- as Ione time said, I said, they'll sell or buy you depending upon what's intheir interest, and how best to protect the unsophisticated. Now, a person accumulating a lot of assets from these practices,are pretty darned sophisticated. A PARTICIPANT: Well, there should be major Chinese walls withincompanies. They should be -- and, ultimately, these conflicts ofinterest need to be eliminated and customers need to be protected andthe CEOs and compliance officers of these companies providing help andadvice need to sign a statement that we have no conflicts of interest.And the SEC should sort of mandate sort of what that might be. A PARTICIPANT: I wonder if they could come back to the point youwere raising, Mickey, about getting the investors back in. But, Syl,if I could turn to you -- Syl Scheiber has been a long-time pensionexpert. What do you think is the case about individuals, smallinvestors being in -- THE PRESIDENT: Excuse me for a minute. So here's what happens.I'm going to four of these, the Vice President is going to four ofthem. I can assure you, however, that we look forward to hearing therecommendations -- Hubbard or somebody is going to be a note-taker. Wewill look at everything you say. Again, I also want to tell you how much we thank you for coming.And I'll see you at lunch. We've got a great group of our fellowAmericans here that really goes to show that people are concerned aboutthe future of the country. I really want to thank you for coming. Iknow it was a stretch for a lot of you