Best Trading Apps With Instant Deposit [2023 ] - MoneyRanger.com (2024)

Trading apps that allow instant depositscan be a lifesaver for day and swing traders who rely on volatility and fast-moving price swings. If you’re an active trader, then we don’t have to tell you just how valuable those extra minutes and even seconds can be.

There’s nothing more frustrating than spotting a great opportunity, only to realize your brokerage takes days to make newly deposited funds available. If this sounds all too familiar, then join us for a look at the besttrading apps with instant deposit.

Even if you want to stick with your current brokerage, it never hurts to have a second account standing by that offers instant access to new deposits. We’ll also explorewhich trading app has the fastest withdrawalto allow you to access your funds when you need them.

What Is the Instant Deposit Option and How Does It Work?

No matter which brokerage app you use, you are likely to fund your account with money from a connected bank account. But unless you have a bank and brokerage account through the same financial institution, it’s unlikely that your transfers will settle right away.

In some cases, it can take up to 3 - 5 days for your money to make its way from your checking account to your brokerage account. Luckily, several trading apps now offer an instant deposit option, which allows you to access a portion of your deposit before it's settled.

Trading apps that allow instant depositswill often allow you to use newly deposited money to trade before it leaves your bank account. Just make sure you actually have enough money to cover the transfer when it finally does go through.

Otherwise, you may lose instant deposit privileges or even incur transfer reversal fees.

What Broker Allows Instant Deposit?

Several different brokerages now offer instant deposit for free. Just be aware that there may be limitations on how much money each broker will allow you to access instantly.

There may also be limitations when it comes to how long you have to wait to withdraw funds once you make a sale.

Let’s check out some of the besttrading apps with instant depositandinstant withdrawalcapabilities, as well as what you need to know about each.

Robinhood

Robinhood is a trailblazing app that was among the first brokerages to offer commission-free trading. The Robinhood app is a great, no-frills beginner app that offers access to stocks, ETFs, and select cryptocurrencies.

Robinhood also offers acash card, which is a nice way to access the proceeds of your trades immediately, without having to do a bank transfer. Similar to theAcorns Checkingcard, the Robinhood cash card also offers stock and crypto rewards in the form of round-ups.

Recently, Robinhood also began offeringIRAswith a 1% match.

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TD Ameritrade

TD Ameritrade is a great choice, no matter what style of trading you prefer. TD’s ThinkorSwim platform is also a must for day traders and comes loaded with an impressive array of free tools.

If you’re more of a casual or intermediate investor, however, you’ll likely find the regular TD Ameritrade dashboard far more approachable. While TD offers a large range of assets, there are restrictions on those you can buy with the instant deposit option.

After making a transfer from your linked bank account, you’ll be able to use your funds to make immediate stock and ETF purchases. Just be aware that you’ll have to wait 3 - 4 days to purchasenon-marginable assetslike options, forex, futures, etc.

WeBull

Over the course of the last few years, WeBull has become an impressively comprehensive trading app. The app and desktop interface offer access to plenty of great tools, research & education, and social media-style features.

WeBull offers access to commission-free stock and ETF trading. You can enjoy up to $1,000 worth ofinstant depositfunding for both, though you will have to wait for funds to settle before trading options or crypto.

WeBull also offers plenty of great resources, like free courses and a free paper trading account.

SoFi

SoFi is a great choice if you like having access to your finances all in one place. Not only does SoFi offer a greatinvesting account, but also everything from checking and savings accounts to credit cards, mortgages, and insurance.

SoFi allows you to enjoy up to $500 ininstant depositsfrom a linked Visa or Mastercard debit card. But if you happen to have a SoFi bank account, you can instantly transfer up to $50,000.

While SoFi does not offerinstant withdrawal, you can connect to your bank account through Plaid, so external transfer withdrawals usually settle within 1 – 3 business days.

eToro

EToro first rose to fame as a crypto investing app but has since expanded its offerings to stocks and ETFs. The platform offers access to up to $1000 immediately when you make adepositfrom a linked bank account or debit card.

While advanced traders may find eToro a bit limiting, it’s a great platform for beginning or intermediate traders. One of eToro’s claims to fame is its CopyTrading feature, which allows you to automatically replicate the moves of your favorite traders in real-time.

TastyWorks

TastyWorksis a full-service brokerage that offers stocks, ETFs, crypto, options, future, and more. When you connect your bank account through Plaid, you’ll enjoy access to up to $1,000 of each deposit instantly.

While the platform’s large number of options may be intimidating for beginners, it does feature a full selection of educational offerings to help you grow. TastyWorks is a particularly great choice for options traders, as its fees are on the lower side.

MooMoo

MooMoois another solid commission-free brokerage that offers stocks, ETFs, and options. When you connect your bank account, you’ll enjoy up to $1,000 instantly whenever you make adeposit.

MooMoo is a great fit for intermediate and advanced traders due to its impressive range of professional tools and screeners. One of the things that set MooMoo apart is that it offers access to severalinternational marketsin addition to U.S. markets.

Which Trading App Has Fastest Withdrawal?

If so many trading apps offer instant deposit, why is it so hard to find those withinstant withdrawalfeatures? First, you have to keep in mind that it takes the money from brokerage sales a few days to settle before it can be transferred to your bank account.

You also have to keep in mind that the delay may also come down to your bank. While a brokerage may send over your transfer immediately, it can take a few days to settle in your bank account.

Robinhoodis one of the few brokerages that’s found a way around this. For a fee of 1.5%, you can transfer money from your Robinhood account to a linked debit card in about 10 – 30 minutes.

Alternatives to Instant Deposit

While popular brokerages likeSchwabandAllydon’t offer instant deposits or instant withdrawals from external accounts, there is an easy workaround. When you also open a bank account through the same platform, you cantransfer fundsin and out immediately.

If this option is available through your brokerage, it may be worth looking into. Even if you don’t use the associated account as your regular bank account, it could make a nice place to stash some extra cash in case you ever need it for immediate trading.

Conclusion

We hope this has helped give you a good overview of what instant deposit is and how it works.Trading apps that allow instant depositscan be a very lucrative asset for active traders who want to make sure they can take advantage of great opportunities as soon as they’re available.

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