If you’re just starting out as an investor, it can be hard to figure out where to begin. How do you know what to invest in? Should you buy stocks or bonds? What’s the difference between them anyway?
If this sounds like something that might be on your mind, we’ve got some good news: there are plenty of apps that can help you get started. But before we dive into those, let’s talk about why they might be useful.
Why Use Apps For Beginning Investors?
You might be wondering why there are apps for investing at all. After all, isn’t investing supposed to be complicated and difficult? The answer is yes and no. You don’t need an app to become a successful investor—but using one can make things easier for beginners because it simplifies some of the most common tasks associated with investing.
For example: if you want to buy stock in a company but don’t know which one, an app might be able to tell you which ones are currently popular among investors (and therefore likely have more room for growth). Or if you want to learn about bonds but aren’t sure how they work, an app may offer resources explaining
what is the best app for beginner investors
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15 Best Investment Apps For Beginners In 2022 [Updated Ranks]
Last Updated:May 4, 2022
Want to know – how and where to invest? Go through this in-depth review and comparison to choose the Best Investment Apps for Beginners:
During this pandemic, when people have lost their jobs and when all their savings have just vanished, people are now realizing a need for digital methods of earning money and growing their wealth.
With the emergence of an era of digitalization and the growing need for jobs through which people can work from home, an investing app can play the role of a savior for everyone.
While investing, you should always remember that the returns on investment depend on the market conditions. So a proper study of the market trends before investing is crucial. Plus, you should always build a diversified portfolio (a portfolio is a record of assets that you own).
What You Will Learn: [hide]
Investing Apps For Beginners
Frequently Asked Questions
List Of The Best Investment Apps For Beginners
Comparing Some Of The Top Investing Apps
1) Fidelity
2) E-Trade
3) SoFi Invest
4) TD Ameritrade Investment App
5) Robinhood
6) Acorns
7) Ally
8) Betterment
9) M1 Finance
10) Stash
11) Merrill Edge
12) Invstr
13) Wealthfront
14) Round
15) Webull
Conclusion
Recommended Reading
Investing Apps For Beginners
Best Investing Apps For Beginners
In this article, we will enlist the best investment apps for beginners. Go through the detailed reviews about each and decide on which one to choose.
Pro Tip: If you are a beginner, you must have little or no knowledge about the market trends. So you should diversify your investments to minimize the risk involved. Moreover, a human or Robo advisor can be a great help in making sure that you put your money in the right trade.
Facts Check: According to a report published by CNBC on 29th January 2021, investing apps top the list of most downloaded non-gaming apps in the U.S. with Robinhood being at the top, followed by WeBull and Fidelity at number two and number six, respectively.
report published by CNBC
Frequently Asked Questions
Q #1) What is the best app to invest in?
Answer: The best apps for investing are Fidelity, SoFi Invest, TD Ameritrade, E-Trade, Robinhood, Merrill Edge, and Stash.
Q #2) How can I invest $5?
Answer: There are investing apps, which let you invest by setting no minimum account balance limit. Some of those investment apps are Robinhood, M1 Finance, Merrill Edge, and Invstr.
Q #3) How do I start investing with little money?
Answer: You can invest the money you have in the following ways:
Put your money in real estate
Buy gold
Trade in cryptocurrencies
Trade in fractional shares
Get enrolled in a retirement plan
Buy mutual funds
Download an investing app that can help you buy stocks, bonds, securities, and other tradable options.
Q #4) What are good investments for beginners?
Answer: Since you are a beginner, you have little or no knowledge about the market trends. You should opt for an investment app that gives you the feature of automated investing and portfolio rebalancing so that you do not lose your hard-earned money by taking any wrong steps.
Q #5) What is the smartest thing to do with your money?
Answer: When you have money, the smartest thing you can do with it is to grow your wealth with it. But you should be very cautious in taking each step, as a single wrong step can cost you a fortune.
If you are a beginner, opt for investing in less volatile assets like real estate or gold, or if you want to invest in the stock market, make sure you do the proper research beforehand. There are investing apps that can guide you in investing your money with the help of human or Robo advisors.
=>> Contact us to suggest a listing here.
List Of The Best Investment Apps For Beginners
Here is the list of popular investing apps for beginners:
Fidelity
E-Trade
SoFi Invest
TD Ameritrade Investment App
Robinhood
Acorns
Ally
Betterment
M1 Finance
Stash
Merrill Edge
Invstr
Wealthfront
Round
Webull
Comparing Some Of The Top Investing Apps
Tool Name Best for Price (For Trading) Advisor Rating
Fidelity Financial planning tools Free Available 5/5 stars
E-Trade Beginners as well as frequent traders. $0 for stocks
$1 per bond Available 5/5 stars
SoFi Invest Loans on low rates and investing without any fees Free Available 4.7/5 stars
TD Ameritrade Investment App Advanced traders Free ($25 for broker assisted trade) Available 4.7/5 stars
Robinhood Simultaneous trading in stocks and crypto currencies. Free Not available 4.6/5 stars
Detailed reviews of best investment apps:
1) Fidelity
Best for financial planning purposes.
Fidelity
Fidelity is a financial solution for investors, which has come up with simple investing solutions, financial planning tools, gives you trade market news, and much more.
Top Features:
Self-directed and professionally managed accounts
Financial planning tools
Guidance from specialists so that you can pick the right investment
Digital estate planning
Pros:
No minimum balance
No commission on trades
Latest professional insights
Cons:
For U.S. citizens only
Broker assisted trade is relatively costly
Why you want this app: You can trade in fractional shares, get financial planning tools and get specialist guidance with Fidelity.
Ratings:
Android rating: 4.4/5 stars
Android downloads: 1 million+
iOS rating: 4.8/5 stars
Price: Free
Website: Fidelity
Recommended Reading => Explore the Top Freelance Websites in the Market
2) E-Trade
Best for beginners as well as frequent traders.
2.E-Trade
E-Trade is an investing app for beginners, with easy-to-use features for investing, saving, and borrowing.
Top Features:
Market insights
Retirement planning
Broker assisted trades and automated investing
Trade-in mutual funds without any fees
Start with pre-built portfolios
Pros:
No commission on trade
Guide to investing for beginners
Prebuilt portfolios of leading mutual funds and ETFs
Educational resources
4500+ mutual funds with no transaction fee
Cons:
Automated investing requires a minimum balance of $500
Why you want this app: E-Trade can be a good option for a beginner as well as a frequent trader. The free educational resources can help beginners and market insights. Other helpful features can work wonders for both.
Ratings:
Android rating: 4.6/5 stars
Android downloads: 1 million+
iOS rating: 4.6/5 stars
Price: There is no commission on the trade of stocks.
E-Trade- pricing
Website: E-Trade
3) SoFi Invest
Best for those who want loans on low rates and want to invest without any fees
SoFi Invest
SoFi Invest is a one-stop shop for your finances. With SoFi Invest, you can avail of an autonomous investment feature for your spare money, trade-in cryptocurrencies, can apply for a loan, and more, all at absolutely no management fees.
Recommended reading =>> Top Cryptocurrency Tax Software
Top Features:
Allow trade in cryptocurrencies
Grants loans on low-interest rates
An automated investing feature
No fees
Pros:
Investing options for beginners
No fees
Crypto exchanges
Cons:
Less number of options for investing in.
Why you want this app: SoFi Invest has all that you want in an investment app for beginners. It doesn’t charge any fees for investments and has automation features for investing your money and maintaining your portfolio.
Reviews:
Android rating: 4.4/5 stars
Android downloads: 1 million+
iOS rating: 4.8/5 stars
Price: Free
Website: SoFi Invest
4) TD Ameritrade Investment App
Best for advanced traders.
TD Ameritrade Investment App
TD Ameritrade Investment App is an award-winning app, which gives you plenty of investment choices, educational resources, planning tools, and much more.
Top Features:
Lets you set price alerts, explore integrated charts, and more
24/5 trading
Analysis features can calculate the risk involved
Goal-specific planning tools
Pros:
$0 commission on trades
Educational resources
No trade minimum
Cons:
No fractional shares
No crypto exchanges
Why you want this app: TD Ameritrade Investment App is most suitable for advanced traders, due to the availability of plenty of trade options, price alerts, and other features. Educational resources can be helpful for beginners.
Ratings:
Android rating: 3.2/5 stars
Android downloads: 1 million+
iOS rating: 4.5/5 stars
Price: There is no commission on trade. Pay 0.30% annual management fee for a Robo advisor.
TD Ameritrade Investment App price
Website: TD Ameritrade
5) Robinhood
Best for those who want to trade in stocks and cryptocurrencies simultaneously.
Robinhood
Robinhood is an investing app, which provides its services to over 6 million Americans today. You do not need to maintain any minimum account balance with Robinhood.
Top Features:
Start investing with as little as $1
Trade with cryptocurrencies
Lets you access research reports on around 1700 stocks
The app lets you receive your paycheck, pay rent, and much more.
Pros:
Commission free trading
Research reports
No minimum balance required
Crypto exchanges
Cons:
No 401(k) accounts
No access to mutual funds
Why you want this app: Robinhood can be a good choice for those who have a passion for investing, as they can learn about market trends in about 1700 stocks with the help of the Robinhood investing app.
Ratings:
Android rating: 3.9/5 stars
Android downloads: 10 million+
iOS rating: 4.1/5 stars
Price: Free
Website: Robinhood
6) Acorns
Best investment app for savings-oriented people.
Acorns
Acorns is one of the best investment apps for beginners. You do not need to worry about maintaining your portfolio, the built-in robo-advisor will take care of it. You can start with small investments and need to pay $1 – $5 per month as fees for the services. Acorns Later feature lets you save for your retirement.
Top Features:
A diversified portfolio, built by experts
Search for jobs
Retirement planning
Earn money when you do shopping
Pros:
Automatically rebalances your portfolio by investing your spare money
Earn money when you buy from a given list of brand names
Portfolio built by experts
Cons:
You can not build your portfolio on your own
Monthly fees
Why you want this app: This app can be very beneficial for beginners who have little idea of the market. They can get their spare money invested, with the help of an in-built robo-advisor.
Ratings:
Android rating: 4.4/5 stars
Android Downloads: 5 million+
iOS rating: 4.7/5 stars
Price:
Lite: $1 per month
Personal: $3 per month
Family: $5 per month
Website: Acorns
7) Ally
Best for multiple trading options.
Ally
Ally is a self-directed trading app, which lets you connect with the trade market anytime and from anywhere you want. You do not need to have any minimum account balance to get started. Plus, it gives you bonus cash on opening an investment account.
Top Features:
Self-directed trading
Banking and Home loans
Automated investing function manages your portfolio
Tools that help you save faster.
Pros:
Allows both trading options: self-directed and automated trading
Effective saving tools
Free advisors for monitoring portfolio
Cons:
You can not start trading with the automation feature with an investment of less than $100.
Why you want this app: Ally offers you trading options that can help you invest the way you want. If you are a beginner with little knowledge about the market, you can take the help of the automated investment feature and can switch to self-directed trading, whenever you want.
Ratings:
Android rating: 3.7/5 stars
Android downloads: 1 million+
iOS rating: 4.7/5 stars
Price: Free
Website: Ally
8) Betterment
Best for long-term investors.
Betterment
Betterment is one of the best investment apps. It offers you automated investing features, tax-loss harvesting, retirement planning, and much more at nominal prices.
Top Features:
Automated investing and portfolio rebalancing
Tax loss harvesting
Lets you know about the amount of tax on the money you withdraw
Retirement planning
Pros:
Invest as you want, or opt for automated investing
Affordable pricing
Get advice on saving money from taxes
Step by step guidance on investing
Get cashback when you shop at selected brands
Cons:
Lack of Real Estate funds
Why you want this app: Betterment can be an affordable and profitable option for investing any amount of money. The step-by-step guide and advice for saving taxes are a plus point.
Ratings:
Android rating: 4.4/5 stars
Android downloads: 0.5 million+
iOS rating: 4.8/5 stars
Price: There is a free plan and two other plans, which charge you 0.25% and 0.40% annual fee, respectively.
Website: Betterment
9) M1 Finance
Best for granting loans on low-interest rates.
M1 Finance
M1 Finance is a wealth-building tool for long-term investors. You can be a self-directed investor and invest your money the way you want, or opt for the automation tool which can rebalance your portfolio for you.
Top Features:
Low-interest loans
Trade with $0 commission
Automated money transfer, based on your pre-set conditions
Send checks, without having to physically sign one.
Pros:
Earn a bonus when you switch to M1 Finance
No minimum deposit required
No commission on trade
Loans on very low-interest rates
Cons:
No mutual funds trading
Why you want this app: M1 Finance has some nice automation features, gives you bonus money when you switch to it, and lets you trade with zero commission fee.
Ratings:
Android rating: 4.4/5 stars
Android downloads: 0.5 million+
iOS rating: 4.6/5 stars
Price: Free
Website: M1 Finance
10) Stash
Best for buying fractional shares.
10.Stash
Stash is an investing app, made for U.S-based customers, which makes investing easy for beginners. You can invest in fractional shares or ETFs with any amount of money.
Top Features:
Get access to research on various tradable items
Retirement planning
Tax benefits
Recommendations for building your portfolio
Lets you to invest in fractional shares
Pros:
Investment advice based on stock research
Tax benefits for retirement investing
Fractional shares
Cons:
No tax loss harvesting with smart portfolios
Why you want this app: With Stash, you can buy fractional shares, get genuine investment advice and get tax benefits with retirement planning.
Ratings:
Android rating: 4.2/5 stars
Android downloads: 5 million+
iOS rating: 4.7/5 stars
Price: There is a free trial for a month. Prices are as follows:
Stash Beginner: $1 per month
Stash Growth: $3 per month
Stash+: $9 per month
Website: Stash
11) Merrill Edge
Best for investors with large wealth.
11.Merrill Edge
Merrill Edge is a Bank of America company which provides a self-directed investing platform and gives you guidance on how and where to invest your money. You can even get a dedicated advisor for your complex wealth management needs.
Top Features:
Provides you a variety of stocks, bonds, ETFs, and mutual funds to invest in
Professionals do portfolio management and rebalancing
Retirement planning
Trade unlimited stocks and ETFs at no fees
Get access to research on stocks
Pros:
No minimum balance required
No annual account fees
Investing ideas
A wide range of stocks, bonds, ETFs, and mutual funds
Cons:
Advisory fee is a bit high
Why you want this app: Merrill Edge is one of the best investment apps, offering plenty of tradable items for investment and even lets you access the research data on various stocks so that you can do an educated investment.
Ratings:
Android rating: 4 stars
Android downloads: 0.1 million+
iOS rating: 4.7/5 stars
Price:
No fees for self-directed investment
0.45% to 0.85% for robo-advice and guided portfolios
Website: Merrill Edge
12) Invstr
Best for beginners or small investors
Invstr
Invstr is one of the top best investment apps for beginners. The app allows commission-free investing and lets you build a portfolio based on guidance from an in-built advisor.
Top Features:
Commission-free investing and banking
Invest in US stocks, ETFs, and fractional shares
Trade cryptocurrencies
Portfolio builder that helps you in improving your performance.
Pros:
No minimum balance
No monthly fees
Lets you trade cryptocurrencies
Portfolio builder
Cons:
Not available for Android devices
Why you want this app: Invstr can be a great choice for investors as it offers trading in stocks, ETFs, fractional shares, and cryptocurrencies.
Ratings:
iOS rating: 4.6/5 stars
Price: Free
Website: Invstr
13) Wealthfront
Best for beginners who can get their money invested and rebalanced automatically.
13.Wealthfront
Wealthfront is made to simplify your finances and grow your wealth from the money you own. It has an in-built robo advisor to help you make investment decisions.
Top Features:
Borrow money easily
Automated investing
Tax loss harvesting
Lets you plan and save for retirement, vacation, etc.
Pros:
Beneficial for beginners
Planning tools
Automated investing
Portfolio rebalancing
No trading fees
Cons:
No fractional shares
No trade in cryptocurrencies
Why you want this app: Wealthfront is one of the best investment apps for beginners, due to its robo-advisor, which renders the automated investing and rebalancing feature.
Ratings:
Android rating: 4.6/5 stars
Android downloads: 0.1 million +
iOS rating: 4.9/5 stars
Price: 0.25% annual advisory fee.
Website: Wealthfront
14) Round
Best for beginners with large wealth for investing.
Round
Round can be termed as one of the best investment apps for advanced investors, having large capital for investing. They even offer a private manager for your account if the account balance increases by $100,000.
Top Features:
Analysis tools to calculate market risks of your portfolio
Affordable pricing
Fund managers to look after your investments
A private management partner for accounts over $100,000
Minimum investment $500
Pros:
No fee in case of no profits
Human assisted advice
Fractional shares
Cons:
No tax loss harvesting
No retirement planning
Not available for Android phones
Why you want this app: Round can be a great option for those who want to invest but do not have the time to look after the market trends or those who are just beginners, because the advisors make sure you earn profits, otherwise your fees are waived off.
Price: 0.5% annual fees.
Website: Round
15) Webull
Best for advanced investors.
Webull
Webull is an investing app that gives you the privilege to invest in plenty of tradable items and have a diversified portfolio, with market analysis tools that can give you proper insights into the market trends.
Top Features:
Lets you analyze market trends for investing
Wide range of trading options
Retirement planning tools
24/7 customer service
Pros:
Zero trade commission
No minimum balance required
Wide range of investment products
Analysis tools
Cons:
No crypto exchanges
No fractional shares
Why you want this app: Webull can be a perfect choice for advanced investors who can read the charts and get insights from the in-depth analysis tools on how to invest their money.
Ratings:
Android rating: 4.4/5 stars
Android downloads: 10 million+
iOS rating: 4.7/5 stars
Price:
Zero Commission on trade.
Tiered Margin Interest Rates are as follows:
Webull price
Website: Webull
Conclusion
People today are searching for ways to invest their money. The demand for investing apps is increasing day by day.
Even people with little or no knowledge of the investing market are now putting their steps forward and are creating a demand for tools that can help them invest their hard-earned money and grow their wealth.
After doing a detailed study of the best investing apps for beginners, we are now in a position to state that the best investment apps include Fidelity, SoFi Invest, TD Ameritrade, E-Trade, Robinhood, Merrill Edge, and Stash.
The features of Automated investing by robo advisors or through specialists, and access to educational resources can be very beneficial for beginners.
Research Process:
Time taken to research this article: We spent 12 hours researching and writing this article so you can get a useful summarized list of tools with a comparison for your quick review.
Total tools researched online: 25
Top tools shortlisted for review: 15
=>> Contact us to suggest a listing here.
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