Looking for an app that makes it easy and convenient to invest your money? This guide will help you find the best investing apps to buy and sell stocks, ETFs, index funds, crypto, and more. These apps will also keep you up to date about your investments, and let you make investment decisions on the go.
The options provided on this list have been carefully picked, researched, vetted, and reviewed to make sure they are suitable for both beginners and advanced investors alike. You can be sure that they all offer a superb mobile experience, have a great variety of investment options, and have positive user reviews on platforms on App Stores, Reddit, and Google.
Our Top Picks for The Best Investing Apps for Beginners
1. Robinhood
Robinhood is a commission-free investing app that allows users to trade stocks, ETFs, options, and cryptocurrencies without paying trading commissions. With its user-friendly interface and ability to purchase fractional shares, Robinhood appeals to both novice and experienced investors. However, the platform’s research tools are relatively limited, and some users have reported issues with customer support.
Who it’s best for: Robinhood is a great trading app if you want to invest in stocks, ETFs, cryptocurrency, and trade options for free.
What we like:
Commission-free trading: Robinhood pioneered the commission-free trading model, allowing users to buy and sell stocks, ETFs, options, and cryptocurrencies without paying any fees.
User-friendly interface: With its intuitive design and easy-to-navigate interface, Robinhood appeals to both novice and experienced investors.
Fractional shares: Robinhood offers the ability to purchase fractional shares, enabling investors to own a piece of high-priced stocks with as little as $1.
What could improve:
Limited research tools: While Robinhood provides basic market data and news, its research tools are relatively limited compared to other platforms.
Customer support: Some users have reported issues with Robinhood’s customer support, experiencing delays in response times and difficulty reaching a representative.
2. Acorns
Acorns is an automated investing app that rounds up users’ everyday purchases to the nearest dollar and invests the spare change into a diversified portfolio of ETFs. Ideal for passive investors, Acorns takes the guesswork out of investing, though its fees and limited investment options may be drawbacks for some users.
Who it’s best for: Acorns is a perfect choice if you want an app that automates your investments. You can set up your retirement savings without much hassle.
What we like:
Automated investing: Acorns automates the investment process by rounding up your everyday purchases to the nearest dollar and investing the spare change into a diversified portfolio.
Hands-off approach: Ideal for passive investors, Acorns takes the guesswork out of investing, allowing users to set it and forget it.
Educational resources: Acorns offers educational content and financial literacy articles to help users improve their understanding of investing.
What could improve:
Fees: While Acorns’ fees are relatively low, ranging from $1 to $5 per month depending on the subscription tier, they can eat into smaller portfolios.
Limited investment options: Acorns primarily offers ETF portfolios, limiting the customization and flexibility for investors who prefer individual stock picking.
3. Wealthfront
Wealthfront is a robo-advisor platform that creates and manages personalized investment portfolios based on users’ risk tolerance and financial goals. With features like tax-loss harvesting and a high-yield cash account, Wealthfront offers a comprehensive suite of financial services. However, it has a higher account minimum and limited human interaction compared to traditional brokerage firms.
Who it’s best for: WealthFront is a great choice for investors who don’t want to get involved in choosing individual investment options. You just add money into your account and WealthFront will manage it for you based on your goals.
What we like:
Robo-advisor features: Wealthfront employs advanced algorithms to create and manage diversified portfolios tailored to users’ risk tolerance and financial goals.
Tax-loss harvesting: Wealthfront offers tax-loss harvesting, a strategy that can help minimize taxes by selling investments at a loss to offset gains.
High-yield cash account: In addition to investment portfolios, Wealthfront provides a high-yield cash account with a competitive APY, making it a one-stop financial hub.
What could improve:
Higher account minimum: Wealthfront requires a minimum investment of $500 to get started, which may be a barrier for some investors.
Limited human interaction: While Wealthfront offers access to financial advisors for premium account holders, the level of human interaction is not as robust as traditional brokerage firms.
4. M1 Finance
M1 Finance is a customizable investment platform that allows users to create custom portfolios or choose from pre-built investment pies. With automated rebalancing and the ability to purchase fractional shares, M1 Finance offers flexibility and convenience for investors. However, its learning curve and limited investment options may pose challenges for some users.
Who it’s best for: M1 finance is best for beginner to intermediate investors who want a platform that manages their investment on their behalf. Anyone who likes automatic investment management and managed portfolio rebalancing will be right at home with M1 Finance.
What we like:
Customizable portfolios: M1 Finance allows users to create custom portfolios or choose from pre-built investment pies based on their financial objectives and preferences.
Automated rebalancing: M1 Finance automatically rebalanced portfolios to maintain target allocations, ensuring that investments stay aligned with users’ goals.
Fractional shares: Similar to Robinhood, M1 Finance offers fractional shares, enabling investors to build diversified portfolios with small amounts of money.
What could improve:
Limited investment options: While M1 Finance offers a wide range of stocks and ETFs, it lacks access to individual bonds, mutual funds, and options trading.
Learning curve: The platform’s unique approach to investing, with features like “pies” and dynamic rebalancing, may require some time for users to fully grasp.
5. E*TRADE
ETRADE is a brokerage firm offering a wide range of investment options, including stocks, ETFs, options, futures, and mutual funds. With extensive research tools and strong customer support, E*TRADE caters to both active traders and long-term investors. However, its commission fees and complex interface may be daunting for beginners.
Who it’s best for: E*TRADE is great for active investors, especially ones who want to access a variety of options trading tools. It’s perfect for beginner and intermediate investors based in the U.S., who will appreciate the rich selection of assets, research, and data, as well as retirement planning assistance.
What we like:
- Extensive research tools: E*TRADE provides a comprehensive suite of research tools, including market analysis, stock screeners, and educational resources to help users make informed investment decisions.
- Variety of investment options: From stocks and ETFs to options, futures, and mutual funds,
- E*TRADE offers a wide range of investment products to suit different risk appetites and investment strategies.
- Strong customer support: E*TRADE offers robust customer support services, including phone support, live chat, and in-person assistance at branch locations.
What could improve:
- Commission fees: While E*TRADE has lowered its commission fees in recent years, users may still incur fees for certain transactions, such as options trades and broker-assisted trades.
- Complex interface: The platform’s advanced features and plethora of tools may be overwhelming for novice investors, requiring a learning curve to navigate effectively.
6. TD Ameritrade
TD Ameritrade is another brokerage firm known for its powerful trading platform, Thinkorswim, which offers advanced charting capabilities and customizable features. With a wealth of educational resources and no account minimums, TD Ameritrade appeals to investors of all levels. However, its higher commission fees and complexity may deter some users.
Who it’s best for: TD Ameritrade is best for traders and investors alike looking for a brokerage offering long-term investing, online stock trading, and retirement planning. It’s great for beginners, as it offers little to no fees and no minimum balance requirements.
What we like:
- Thinkorswim platform: TD Ameritrade’s Thinkorswim platform is renowned for its powerful trading tools, advanced charting capabilities, and customizable interface, making it a favorite among active traders.
- Extensive educational resources: TD Ameritrade offers a wealth of educational resources, including webinars, articles, and video tutorials, to help users expand their knowledge of investing and trading.
- No account minimums: Unlike some other brokerage firms, TD Ameritrade does not require a minimum investment to open an account, making it accessible to investors of all levels.
What could improve:
- Higher commission fees: While TD Ameritrade recently eliminated commissions for online stock, ETF, and options trades, users may still incur fees for other transactions, such as broker-assisted trades and mutual funds.
- Overwhelming for beginners: The advanced features and complex interface of the Thinkorswim platform may be daunting for novice investors, who may prefer a more streamlined experience.
7. Betterment
Betterment is a robo-advisor service that creates and manages personalized investment portfolios based on users’ goals and risk tolerance. With tax-efficient investing strategies and goal-based investing options, Betterment helps users optimize their investments for long-term success. However, its limited investment options and management fees may be drawbacks for some users.
Who it’s best for: Betterment is ideal for anyone looking for a straightforward investing app where their funds are professionally managed at a low cost. It’s also great if you want a cash management feature.
What we like:
- Robo-advisor service: Betterment offers a robo-advisor service that creates and manages personalized investment portfolios based on users’ goals, risk tolerance, and time horizon.
- Goal-based investing: Betterment allows users to set specific financial goals, such as retirement savings or buying a home, and allocates investments accordingly to help achieve those goals.
- Tax-efficient investing: Betterment employs tax-efficient investing strategies, such as tax-loss harvesting and asset location, to minimize tax liabilities and maximize after-tax returns.
What could improve:
- Limited investment options: Betterment primarily offers a selection of ETFs, which may not satisfy investors seeking greater control over individual stock selection.
- Management fees: While Betterment’s management fees are competitive, ranging from 0.25% to 0.40% annually, they can add up over time and impact overall returns.
8. Stash
Stash is an investing app that allows users to purchase fractional shares of stocks and ETFs, as well as invest in themed portfolios based on their interests. With educational content and theme-based investing options, Stash aims to make investing accessible and engaging for users. However, its monthly fees and limited research tools may be deterrents for some investors.
Who it’s best for: Stash is ideal for beginners looking to learn how to invest, and want to start investing in fractional shares. It also works great for investors who want to choose their investments and receive automated portfolios.
What we like:
- Fractional shares: Stash allows users to purchase fractional shares of stocks and ETFs, enabling investors to build diversified portfolios with small amounts of money.
- Educational content: Stash offers educational content and personalized investment tips to help users improve their financial literacy and make more informed investment decisions.
- Theme-based investing: Stash offers themed investment options, such as Clean & Green, Tech Tycoon, and Defending America, allowing users to invest in companies that align with their values and interests.
What could improve:
- Monthly fees: While Stash offers a basic account with a low monthly fee, users may need to upgrade to a higher-tier account to access additional features, which can increase costs.
- Limited research tools: Stash’s research tools are relatively basic compared to other platforms, lacking in-depth analysis and advanced charting capabilities.
9. SoFi Invest
SoFi Invest is a commission-free investing app that offers trading for stocks, ETFs, and cryptocurrencies, along with member benefits such as discounts on loans and financial planning services. With features like fractional shares and automated investing, SoFi Invest provides convenience and value for users. However, its limited cryptocurrency selection and basic research tools may be drawbacks for more experienced investors.
Who it’s best for: SoFi Invest is a great option for new investors looking to invest in commission-free Stocks and ETFs, or traders looking for $0 commissions on options. It also offers free financial counseling and unique access to IPOs, which are often only available to institutional investors.
What we like:
- No commission fees: SoFi Invest offers commission-free trading for stocks, ETFs, and cryptocurrencies, allowing users to trade without incurring additional costs.
- Member benefits: SoFi Invest provides exclusive member benefits, such as discounts on loans, career coaching, and financial planning services, to enhance the overall user experience.
- Fractional shares and automated investing: SoFi Invest offers fractional shares and automated investing features, making it easy for users to start investing with small amounts of money and automate their investment strategy.
What could improve:
- Limited cryptocurrency selection: While SoFi Invest offers a selection of cryptocurrencies for trading, the range is more limited compared to dedicated cryptocurrency exchanges.
- Basic research tools: SoFi Invest’s research tools are relatively basic, lacking in-depth analysis and advanced charting capabilities, which may be a drawback for more experienced investors.
Frequently Asked Questions about Investing Apps for beginners
What is an investing app, and how does it work?
An investing app is an application designed to allows you to buy, sell, and manage investments directly from their smartphones or other devices. These apps typically offer a range of investment options, such as stocks, ETFs, mutual funds, and sometimes even cryptocurrencies. Users can fund their accounts, research investment opportunities, and execute trades all within the app’s interface.
Are investing apps safe to use?
Generally, reputable investing apps employ robust security measures to protect users’ personal and financial information. This includes encryption technologies, secure login protocols, and regulatory compliance. It’s important to choose a well-established app with a track record of reliability and security. Additionally, consider enabling two-factor authentication and using strong, unique passwords to further enhance security.
How much money do I need to start investing using an app?
The amount of money required to start investing with an investing app varies depending on the platform. Some apps have no minimum investment requirements, allowing users to start with as little as $1 or even less by offering fractional shares. Others may have minimum account balance requirements, typically ranging from $100 to $500 or more. Consider your budget and investment goals when choosing an app that aligns with your financial situation.
What are the fees associated with using investing apps?
The fees associated with using investing apps can vary depending on the platform and the types of transactions you perform. Common fees include trading commissions, account management fees, and expense ratios for ETFs and mutual funds. However, many investing apps now offer commission-free trading for stocks and ETFs, making investing more accessible and cost-effective. Be sure to read the app’s fee schedule and understand all potential costs before opening an account.
How do I choose the right investing app for me?
When choosing an investment app, consider factors such as your investment goals, risk tolerance, preferred investment products, and level of expertise. Look for features that align with your needs, such as commission-free trading, automated investing, educational resources, and customer support. Additionally, read reviews and compare the pros and cons of different apps to find one that suits your preferences and objectives.
What is the difference between stocks, ETFs, and mutual funds?
Stocks represent ownership shares in individual companies, allowing investors to profit from the company’s growth and performance. ETFs (Exchange-Traded Funds) are investment funds that hold a diversified portfolio of assets, such as stocks, bonds, or commodities, and trade on stock exchanges like individual stocks. Mutual funds are similar to ETFs but are typically actively managed by professional fund managers and may have higher fees.
How do I build a diversified investment portfolio?
Building a diversified investment portfolio involves spreading your investments across different asset classes, industries, and geographic regions to reduce risk and maximize returns. Consider investing in a mix of stocks, bonds, ETFs, and other asset classes based on your risk tolerance and investment goals. Many investing apps offer pre-built portfolios or asset allocation models designed to help users achieve diversification.
What should I do if I have questions or need help while using an investing app?
If you have questions or need assistance while using an investment app, most platforms offer customer support services to help address your concerns. This may include phone support, live chat, email support, or in-app messaging with customer service representatives. Additionally, many investment apps provide educational resources, FAQs, and tutorials to help users navigate the platform and make informed investment decisions. Don’t hesitate to reach out for help if you encounter any issues or have questions about investing.
