Over the past few years, trading apps have revolutionized the way people interact with the world’s financial markets and exchanges, making it simple and easy to trade online, whether at home or on the go. The number of people using these apps to make investments and monitor market trends has been steadily increasing every year, but in 2021 it reached record highs.
According to data presented by Buy stocks, RobinHood, WeBull, Fidelity Investments, E * Trade and eToro, as the world’s top five trading apps, doubled the number of users last year to almost 14 million in July.
RobinHood Reaches 7.3 Million Monthly Active Users, Doubles WeBull’s Second Rank
Stock trading has been going mobile for quite some time, and tech companies have been working on well-designed trading platforms to provide top-notch service to a new set of tech-savvy users. This shift first started in the United States, where Robinhood has attracted tens of millions of users. On the flip side, the European market is still fragmented, with a handful of stock trading apps slowly expanding into new markets.
According to data from AirNow, RobinHood is by far the most popular trading app in the world. As of July 2020, the app had around 4.3 million monthly active users. However, the number of users increased in the first half of 2021, reaching a peak of over 9 million in May 2021. In July, around 7.3 million people worldwide used RobinHood to trade and invest, 70% of more than in the same month a year ago. .
With 2.7 million monthly active users, half the number of leading RobinHood, WeBull ranked as the second most popular trading app in the world. However, statistics show that WeBull has seen the strongest growth, with user numbers up 265% year-over-year.
Fidelity Investments was third with 1.8 million active users, 38% more than in July 2020. Morgan Stanley’s E * Trade and eToro followed with 1.1 million and 1 million users, respectively. monthly assets.
RobinHood reached 11.9 million downloads in 2021, nearly the top four apps combined
Developers of stock trading apps are constantly innovating and adding new features to make portfolio management easier on the go. For example, many next-generation trading platforms now have AI-based tools to help users assess investment risks.
In addition to having the largest user base, RobinHood also recorded the highest number of downloads this year. In the seven months of 2021, the trading app was downloaded 11.6 million times, nearly the other top four apps combined, with almost a third of all downloads occurring in January.
WeBull was downloaded 5.6 million times during this period, 2.3 million more than the third eToro. Fidelity Investments and TD Ameritrade rank in the top five, with 1.9 million and 1.2 million downloads, respectively.