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Best Investment Apps

Mobile Apps 11 Nov 2021

14 of the Best Investment Apps for Beginners

Taking control of your finances and future is something that people of this generation really ought to seriously consider. One way to do so and in order to diversify your income and grow your wealth is through investing. If you are, however, new to the world of investing, getting started and figuring out how to do so can be a bit of a daunting task. But thanks to technology today, investing has become more accessible to the general public and in all honestly anyone can start investing with the help of some good apps. In this blog we have compiled a list of some of the best investment apps that are available for beginners in the market. These apps can help you diversify your portfolio while simultaneously help you learn the ropes of the business as you go.

It is important to understand though that even with the best apps to learn investing, there is still a set of risks and return expectations that comes with it. Therefore, it is always wise to diversify ones portfolio in order to reduce the risks associated with any one investment that you may make. The CEO of Harvest Returns, Chris Rawley states that, “diversification always helps manage the overall risk of a person’s portfolio and can help shield returns from market’s volatility, economic uncertainty, and inflation.” You can always use an investment calculator like this one by Forbes to project your financial success while also varying your investments.

There are applications that are dedicated to almost every investment strategy there is and that too at every skill level. From beginners who may be ready to make their first investment, no matter how big or small, to even advance entrepreneurs who may be looking to trade stocks on the go, having a good investing app can make many financial actions more accessible.

What makes an Investment app the best for beginners?

There are quite a few features that make for the best investment app but some features that people may focus on can be: the information available, the user experience and risk management. It is advised to find apps that not only show you the ropes of the business as you go but also help you make financial decisions that align with your financial goals. Here is the list we think will best fit your needs as a beginners.

1.    Acorns

Acorns is an amazing investment app for beginners. It is especially useful if you are trying to bolster your savings while being able to invest without thinking too much about it. The application is easy to integrate with your debit or credit card and rounds up your purchases automatically to add funds to your investment account. The App allows you to make investments in a few fractional shares in stokes as well as in ETFs. It has three tiers (family, personal and lite) which allows users to add additional accounts subjected to premium rates. Some other key features of the app includes,

  • No investment minimums
  • Up to five types of portfolios
  • Auto rebalancing,
  • 24/7 customer support via phone and live chat
  • Costs as low as $1 to $5 dep-ending on the account you hold.

2.    Stash

Stash is said to be one of the best apps for beginners who are hoping to learn about investment in a fast and reliable way. The app uses a mix of games and educational content to help make financial topics easy to learn. The goals can be customized based on the users’ preference. This allows them to focus on what they are doing and keep a track of their progress. Stash allows you to work with value based investments offerings while providing suggestions to help you build your portfolio. They also offer:

  • A $5 investment minimum
  • Fees as low as $1 to $9 for a month
  • Their Educational support
  • No fees on inactivity
  • Help in the form of visual tools.

3.    Ally

If you are someone who is a beginner and is interested in bonds and stocks than Ally invest is a great option for you. The app allows it’s users to trade anytime and anywhere while integrating data in real-time. It gives its user’s access to EFT’s, Bonds, and mutual funds. There is no minimum investment fees and it doesn’t require any additional download to be able to access the trading platform. Some other features include.

  • Pricing calculator options
  • Very little transaction fees based on the investment type
  • Phone call, email and chat support
  • Access to additional web browser band

4.    Invstr

Best known for its fantasy game-play, invstr allows its users to play with up to $1 million of fake cash to help learn more about stocks. It’s a great option if you want to learn about making a portfolio without the risks of actually creating one. The application hosts and active community of investors and a news feed that’s regularly updated to help users learn more about maintaining their portfolio. Invstr also offers:

  • Actual cash prices on successful game play.
  • Fractional shares in stocks
  • Real time portfolio management stimulation.
  • Interactive and user friendly game play

5.    Robinhood

Robinhood has gained popularity, over the years, as one of the pioneer apps in offering trading without a fees or commission. This makes them incredibly attractive to those who are thinking about starting their own portfolio as first time investors. Even though a lot of apps offer this today, Robinhood still stands out from the rest for other reasons. First and foremost, the app also allows it’s users to:

  • Trade in cryptocurrency without any fees.
  • No minimum account or inactivity fees
  • User friendly interface

6.    SoFi

SoFi which is short for social finance, is a relatively new investment app. It is known for it’s easy to use platform and low costs. Users can pick between an active investing account and a passive portfolio that are managed by robo-advisers. The also offer investments in ETF’s, Crypto and stocks. They also offer:

  • No commissions on trades
  • No recurring account fees
  • Free financial planning sessions
  • No account minimums

7.    Merrill Edge

If you are someone who is looking to start investing and need an App without any trading fees then Merrill Edge is a great option to get started. The app allows it’s users to trade stocks and options without any hidden fees. The application is owned by the Bank of America and offers integrations to its account holders. It also allows it’s users the same online login platform for both their banking services and investment options. This allows for smoother transfer of funds. Some other key features include:

  • A reward program for its eligible users
  • Resources such as articles, courses and webinars.
  • A customizable trading dashboard.
  • No inactivity fees
  • No Annual fees

8.    Betterment

If you are planning on becoming an investor with a tax friendly portfolio, then you will enjoy using Betterment. Betterment is also known as the app that first introduced the concept of robo-advisors, although this feature has now been expanded to other apps. The app manages the user account with taxes in mind which helps minimize the losses. There are a few other features as well:

  • A taxable retirement account management
  • No minimum investment required
  • Certified financial planners available for phone support
  • Only a 0.25% management fee

9.    M1 Finance

M1 Finance is the app that strikes the perfect balance between automated portfolio management and hands-on investing. The app allows for its users to build a portfolio of ETFs and stocks. It works best for investors who want to have the flexibility of building their own portfolio, with some guidance along the way. It offers taxable investment accounts and IRA for its users. The app also includes:

  • Hybrid investment setups with ETFs and stocks.
  • Retirement accounts as low as $500
  • Taxable accounts for a minimum of $100
  • No additional fees
  • Available with a premium version

10. E-Trade

E-Trade is another amazing name in the world of best personal investment apps. The app is famous for the options it provides. Investors get the freedom to choose how they want to set up their portfolio with thousands of options of stocks, options, ETFs and mutual funds to choose from. The app is a great fit for investors who have some knowledge about the stock market from before. They also offer other options like:

  • No commission for trading stocks
  • Live news & market analysis
  • Personalized notifications on various stocks
  • Robo-advisor offerings available
  • Minimum balance of $300

11. TD Ameritrade

If you like to dive into the details of a subject before getting started on it then, TD Ameritrade will become your best friend. This app not only allows it’s users to access information on companies, stocks, and the markets so that users can make informed decisions when investing. There are even educational videos available on the app that help break down more complex topics. TD Ameritrade also offers users:

  • Multiple trading platforms
  • No investment minimums
  • Wide variety of investments
  • Customer support and advice
  • Free educational resources

12. Stockpile

Aptly named based on its features, the Stockpile app allows its users to purchase fractional shares of stocks to help grow their financial portfolios. This app is commonly known for its gifting feature. This feature allows its users to send stocks as gift cards to friends and family. This can be a great way to help ease someone who is new into investing. Other features of the app include:

  • No monthly fees
  • Gifting feature that makes it easier for younger investors to get started
  • Charges only 0.99 cents per trade
  • You don’t need an account on the app to send a gift

13. Fidelity

Fidelity boots a combined 3,500 Mutual funds for investors to choose from. They can make trades that are commission free on the app. The platform also offers a number of educational resources that helps the users to learn from and about investment choices. It is this content that lets the app stand out for beginners. There are other options that make the app attractive to more advanced investors.

  • No fees or commissions on trading
  • No account minimum
  • Comprehensive customer service
  • A variety of research tools for users

14. Charles Schwab

Charles Schwab is another well-known and considered to be the best personal investment apps. The app allows it’s users to choose from a large selection of investment. This too without worrying about any transaction fees. It is popular because of its user friendly interface and education resources. Some other features include:

  • No to low account minimums
  • Stocks, bonds, ETFs, Futures, and Options available
  • No annual fees
  • No inactivity fees
  • Two mobile apps and a desktop version to choose from
  • Fractional shares available

Last words

These are some of the best investment app for you if you are looking to get started in the world of trading. They can help you grow your skills as well as finances along the way. So whether you want to save for retirement or a way to supplement your income, the right investing app is the best way to go about getting started.