The best apps for mutual funds are all about helping you reach your financial goals. They’re designed to help you invest in the market and earn money so you can ultimately retire early or send your kid to college.
Each app has its own features, but there are certain commonalities between them. For example, many of these apps offer mutual fund options that are non-commission and no-load, which means they don’t charge fees for buying or selling securities and they don’t have commission fees on their trades. Many also allow you to set up automatic withdrawals from your bank account each month so it’s always investing for you.
Table of Contents
Best Apps For Mutual Funds
Investing in Mutual Funds is the way to go if you want to stay financially stable in life. I’m not saying it; the economics experts are telling this. However, investing any amount of money requires the right app, and with so many applications available, finding the best app to invest in mutual funds may turn out to be a hassle for users. But, and that’s why we are here, we might have found an app that can solve all your financial problems in one go.
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Best Apps To Invest In Mutual Funds
- Coin by Zerodha
Coin by Zerodha
Zerodha is a well-known investment platform and probably the simplest app that can easily let you invest in mutual funds. In addition, the platform has a Coin application that is perfectly compatible if you already have a Zerodha account. So log in to your account on the app, and that’s it. You’re good to go.
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With this app, you can create your SIP anytime. In addition, it also lets you modify the SIP whenever you need to change any information. You can view various financial schemes, ELSS funds, Tax filing instructions. The Coin By Zerodha app has a fined tuned User interface in terms of app features. It is easy to use; most importantly, you can easily navigate between financial schemes and understand them with the dedicated investment calculator. With these features on board, Coin by Zerodha might be the
Download App: Android | iOS
- Groww
Groww
Groww is another app that you can use for investment purposes. However, I would suggest you use it if you’re new to the mutual fund’s investment scheme. This easy to use app has minimalistic features that let you decide and do your financial planning without any hassle. It has a single dashboard that lets you track all the investments, annual returns etc. All you have to do to get yourself registered on the app is get an account verification via KYC, and you’re good to go.
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In terms of security, the application has 128-bit SSL encryption that keeps all your financial details secure. This easy to use the app can be considered the best app to invest in mutual funds and start SIP.
Download App: Android | iOS
- Paytm Money Mutual Funds App
Paytm Money Mutual Funds App
Paytm is a well-known app in the financial segment; we all are using this app regularly. Though the primary use of Paytm is for making payments to a vendor, it also comes with additional financial services that you can easily opt for. Just install the Paytm money app and get going. On the Paytm mone app, you’ll also get a 1 per cent higher return; in addition, you’ll also get various investment schemes and create your financial portfolio.
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In addition, the app also doesn’t have any hidden charges in case you’re buying or selling mutual funds frequently. It takes only 30 minutes to create an account on the Paytm Money app and start your financial investment plan. Paytm ensures that you get quality service while you’re signing up for your account, and for that, the entire registration process is paperless. So, get on the Paytm money app and plan your financial planning well.
Download App: Android | iOS
- Kuvera
Kuvera
Kuvera is another awesome mutual fund investment application that you can use. It has a unique and simple user interface, and you can create an account on Kuvera in a few steps. You can create your financial portfolio, manage joint family accounts, and keep track of the investment. In addition, the app also has a simple yet informative dashboard where you can get all the information of policy, financial scheme and SIP. It also lets you set life goals and see if you’re o the right track. It also recommends you trending mutual funds that can benefit you in achieving your goal.
Download App: Android | iOS
- ETMoney
ETMoney
ETMoney is perhaps the best platform where you can invest your money. Developed by Times Internet and managed by the Economics times publication, the ETMoney app is an award-winning application that has various benefits. You can easily set up your account and create your financial portfolio.
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The most exciting part about the app is its financial calculator, where you have to just set a goal, and the app will automatically suggest various mutual funds investment plans. It also has a very easy app integration method with various payment apps like GPay, PhonePe, Paytm, etc. The key feature of this app is the personalised section that will show you the best performing mutual funds to invest on the basis of the historical performance of the mutual fund scheme. It can be said that this is the best app to invest in mutual funds.
best investment app for beginners
The best investment apps for beginners offer low fees and access to the types of accounts and investment products you care about most. The app you choose should suit your investment style and offer the tools you need (e.g., educational guides and/or courses, human advisor access, and strong customer support) to achieve your financial goals.
Best overall: SoFi
SoFi Invest
Account Minimum
$0 ($1 to start investing)
Fees
0% for active trading and automated investing (1.25% for cryptocurrencies)
Investment Types
Stocks, ETFs, and cryptocurrencies
SoFi SoFi Invest
4.54/5
Editor’s Rating
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Pros & Cons
Details
Why SoFi made our list:
SoFi is a top pick for beginners thanks to an easy-to-use platform paired with rock-bottom pricing. You can get started at SoFi Invest with just $1, and there are no commissions for trades and no recurring account fees. Even the managed portfolio product, SoFi automated investing, where your investments are all picked and managed for you, is free to use.
The app includes stocks and ETFs listed by category, making it easy to browse potential investment opportunities. The app doesn’t have the most in-depth investment research, but there is enough to get you started and guide your research off the app. In addition to cryptocurrency trading (for bitcoin, ethereum, dogecoin, and more than 27 other coins), you can also access investment education articles from inside the app.
As an added bonus outside of the app, SoFi offers complimentary financial planning sessions for all members, among other benefits. If you are a beginner and want help putting an investment strategy together, SoFi is an ideal place to start.
Best overall runner-up: Ally Invest
Ally Invest
Account Minimum
$0 ($100 for Robo Portfolios)
Fees
0%
Investment Types
Stocks, ETFs, options, bonds, mutual funds, and forex
Ally Ally Invest
4.08/5
Editor’s Rating
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Pros & Cons
Details
Why Ally Invest made our list:
Beginners often do well with simple and straightforward investment platforms. Ally Invest offers just that through its mobile app. You can trade stocks and ETFs with no commissions; mutual fund trades will incur a $9.95 commission fee. There are no recurring fees or minimum balance requirements to worry about.
Plus, if you prefer the
robo-advisor
route, Ally Invest Managed Portfolios creates a personalized portfolio of ETFs for you. The account gives you the choice between four portfolios: Core, Income, Tax-optimized, and Socially Responsible. You’ll just need a minimum of $100 to get started, and you won’t have to worry about any advisory fees.
The Ally app, which is also used by Ally Bank, is straightforward and easy to navigate. It doesn’t have as many bells and whistles as some active trading platforms, but it has everything a beginner and most passive investors might need.
Best for automated investing: Acorns
Acorns Invest
Account Minimum
$0
Fees
$3/month or $5/month
Investment Types
ETFs
Acorns Acorns Invest
4.2/5
Editor’s Rating
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Pros & Cons
Details
Why Acorns made our list:
Acorns is an investment app for people who know they should be investing but don’t have or want to spend the time to manage it themselves. For $3 per month, Acorns will take care of everything. That includes automatic spare change investing through transaction round-ups, automated transfers, retirement account saving, banking perks, and a fully automated investment plan.
The big upside of Acorns is that it’s so easy to use. The big downside is that there’s a fee no matter what. This is arguably better than asset-based fee deductions which fluctuate as your balance grows. With the monthly fee, you’ll pay the same amount every year. For additional accounts and features, including investment accounts for children, you’ll have to pay $5 per month.
Best for active trading: TD Ameritrade
TD Ameritrade investment account
Account Minimum
$0 ($5,000 or $25,000 for managed accounts through Schwab)
Fees
0% ($300 one-time fee and $30/month for advisor-managed account through Schwab)
Investment Types
Stocks, ETFs, options, mutual funds, futures, forex, IPOs, and bonds
TD Ameritrade TD Ameritrade investment account
4.75/5
Editor’s Rating
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Pros & Cons
Details
Why TD Ameritrade made our list:
If you are new to the markets and plan to get into active trading, TD Ameritrade is a good place to start. It charges no commissions for stock or ETF trades and offers multiple account platforms that align with various investment styles and goals.
When you’re starting out, you’ll probably feel most comfortable in the main TD Ameritrade app. As your investment skills grow, you can upgrade to thinkorswim, the premier active trading platform from TD Ameritrade. It has tons of useful features for active traders. Important for beginners, there’s a feature to chat with an expert trader inside of thinkorswim.
Important to note: Charles Schwab acquired TD Ameritrade in 2020. However, Schwab has announced it plans to keep TD Ameritrade’s thinkorswim in its product lineup going forward.
Best for social investing: Public.com
Public
Account Minimum
$0
Fees
0%
Investment Types
Stocks, ETFs, and cryptocurrencies
Public Public
4.58/5
Editor’s Rating
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Pros & Cons
Details
Why Public.com made our list:
When you’re a beginner in the stock market, it can feel intimidating to research and choose stocks and other investments on your own. Public combines features from social networks like Facebook and Twitter with traditional brokerage features. That makes for an investment app ideal for beginners learning their way around the markets.
Not only can you learn from the portfolios of other experts by following their posts in the Public feed, you can also create group chats with other users and participate in live investing events and conversations. Plus, you can invest in multiple cryptocurrencies, including bitcoin, dogecoin, and ethereum.
With fractional shares starting at $5, you can also buy into a huge number of supported companies without putting up enough cash for a full share. While it doesn’t offer every popular type of investment, it covers stocks and ETFs in a way that’s great for newer investors or even experienced investors looking to improve their investment strategy.
Best for no commissions: Robinhood
Robinhood
Account Minimum
$0 ($1 for fractional shares; $2,000 for Robinhood Gold)
Fees
0%
Investment Types
Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs
Robinhood Robinhood
3.54/5
Editor’s Rating
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Pros & Cons
Details
Why Robinhood made our list:
Robinhood is a pioneer in the no-commission brokerage model. It remains a solid choice for beginners, as they can invest in stocks, ETFs, and options with zero commissions. Typical stock and ETF investors will be able to use Robinhood with no costs at all, though premium accounts are available with more features for a monthly fee starting at $5.
Plus, Robinhood offers commission-free cryptocurrency trading for several digital assets. Among these are bitcoin, ethereum, dogecoin, litecoin, and more.
However, Robinhood has a history of controversies over downtime and how some users have been able to enter extremely risky trades that they didn’t understand. As with any investment app, it’s important for Robinhood traders to understand the risks of what they’re doing so they can invest in line with their goals and avoid unexpected losses.
Best for kids: Stockpile
Stockpile
Account Minimum
$0
Fees
$0/trade
Investment Types
Stocks and ETFs
Stockpile Stockpile
3.79/5
Editor’s Rating
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Pros & Cons
Details
Why Stockpile made our list:
Stockpile also offers commission-free stock and ETF trades, and it provides some unique features that complement its $o commission fee structure.
Stockpile allows fractional share investing and supports the gift of stock through gift cards, which makes it perfect for the youngest investors.
If you are a parent, grandparent, aunt, uncle, or another relative who wants to help a child in your life learn how the stock market works, Stockpile is perfect for your needs. It makes it easy to gift stock and keep tabs on the account of a minor. It also makes it fun to navigate through supported stocks while educating users through “mini-lessons” that teach how to invest.
Other apps we considered
Webull: Webull is a newer commission-free investment platform. It may be a little more challenging for some newer investors to navigate but offers excellent pricing and investment tools.
Firstrade: Firstrade’s web and desktop investment apps feel a little lower-tech, but its mobile app is simple and easy to navigate. It offers excellent pricing including commission-free mutual fund trades.
Stash: Stash is great for newer investors looking to learn how to invest and build the right mindset, but monthly $1 to $9 fees make it less appealing.
How we determine winners
For beginners, it’s important to choose an investment app that combines low costs with the features you care about most. Whether you’re looking to build a passive portfolio of funds, an active portfolio of stocks, or any other investment strategy, there’s a brokerage and investment app designed to meet your needs.
To make our selections, we focused on costs and fees, app features, types of accounts available, investment products available, and beginner-friendly features to manage your investment account on the go.
Frequently asked questions
What are brokerage accounts?
Brokerage accounts are a type of account where you can store cash and investments — to use an investment app, you’ll fund a brokerage account. With a brokerage, you can fund your account with cash and use that cash to buy and sell stocks, bonds, funds, and other investments supported by your brokerage.
Every brokerage has its own core features and pricing, so there is no perfect brokerage for everyone. However, anyone can find a brokerage that’s a good fit for their needs.
How do brokerage accounts work?
Brokerage accounts work like
checking accounts
at a traditional bank in many ways. In fact, many brokerages offer checkbooks for brokerage accounts if you want one. You can add and remove funds similar to a bank, though certain types of retirement and other tax-advantaged accounts have rules around withdrawals.
Brokerages in the United States are regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Accounts may lose value, but assets are insured by the Securities Investor Protection Corporation (SIPC) in case your brokerage goes out of business.
Who should use a brokerage account?
Just about every single person in the US could benefit from a brokerage account. As long as you have high-interest debts paid off, putting a portion of your income into investments is a wise long-term decision.
Most brokers on this list have no recurring fees and no minimum balance. You can often get started with as little as $5 to buy your first stock or ETF.
How much should a brokerage account cost?
Brokerage accounts should be free! The best brokerages charge no recurring fees and have no minimum balance or activity requirements to avoid a monthly service fee.
In addition, most brokerages have dropped fees for stock and ETF trades, so you shouldn’t pay any commissions for those types of trades.
How do I choose an online brokerage?
Your choice for
online brokerage
and
investing apps
should come down to your investment goals. If you are interested in active investing, you would want a different platform than passive investors. But in any case, it’s important to review fees to make sure you’re not paying for anything you plan to do regularly.
If an app supports the types of accounts you need and the types of investments you want on a platform you enjoy using, you’ve likely found a winner.
Conclusion
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