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- New research reveals the top 20 most popular stock trading platform apps.
- SoFi found to be the 'people choice' according to combined ratings, search trend data and online popularity.
- E*Trade followed in second place with huge levels of search volume in the last 30 days.
- Robinhood ranked thirteenth on the list despite having the most user reviews.
New research from InvestorJunkie has ranked the most popular stock trading apps in the US, according to the general public.
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The study combines ratings from Google Play and the App Store, the number of articles written about each platform from Buzzsumo in the last two years as well as an online popularity score from those based on people's reactions on social media , total value of assets under management and search volume data from SEMrush.
The Most Popular Stock Trading Apps
Findings showed that SoFi was the 'people's choice' when it comes to stock trading apps in the US, with a 4.5 combined rating, over 500,000 SEMrush search volume and over 33,000 articles written about the platform with a 59% popularity score.
E*Trade ranked second on the list with a slightly lower rating than SoFi at 4.35 and only around one-third of the number of articles written about the app.
However, E*Trade did have a much higher search volume, according to SEMrush with 1.7 million in the last 30 days.
Interestingly, both apps ranked as the bottom two for assets under management with $523 million and $360 million respectively.
But they did come out as one and two in the overall standings thanks to strong performances on all the other metrics, meaning the lower score on assets under management did not affect their aggregate score too much.
Vanguard rounded off the top three, ranking first for search volume (2.7 million) and the number of articles written about the app in the last two years (175,287) as well as having the second highest assets under management figure, currently controlling $7.2 trillion worth.
eToro placed fourth, performing well in search volume, number of articles and online popularity.
However, it was let down by low scores on assets under management and a combined rating of 4 out of 5 which despite being a very respectable score is towards the lower end in a competitive category.
Charles Schwab was next and had a similar high SEMrush search volume of 1.6 million to eToro, but the app's lower volume of articles and a lower online popularity score of 43% meant it finished fifth.
The app did have the highest value compared to all others on the list when it came to assets under management, controlling a massive $8.14 trillion worth.
Elsewhere on the list, Robinhood ranked surprisingly low in thirteenth place thanks to a relatively low combined rating of 4 and the lowest online popularity score on the list of just 10%.
Updated on Aug 3, 2022, 12:04 pm
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