Stock Market Investment can be a very tricky business. It is not only about the money you make, but also about the money you lose. If you are investing in stocks, then you need to have a good knowledge of how it all works. But, what if you don’t know much about stocks? What if you want to invest in the stock market but don’t know where to start?
If you are looking for some great apps for stock market investment and other resources, then this article is for you. Here we have listed down some of the best apps for stock market investment. These apps will help you get started with your investments and make it easier for you!
Table of Contents
Best Apps For Stock Market Investment
Investing feels more accessible than it’s ever been.
Whether you prefer a hands-off approach or love to pore over market research and make trades — or fall somewhere in between — the right investment app can make it that much easier to reach your goals.
The best investment apps right now
In our search for the best investment apps, we considered what might be important to different types of investors, not the least of which is cost. You often need to spend money to make money, but it’s possible to minimize fees and still maintain a quality investment strategy.
Our list skews toward so-called robo-advisers — which use an algorithm to manage your investments — because, in many ways, they feel most accessible to average investors; fees and balance minimums are generally low and your big-picture goals can help create an individualized and diverse portfolio that doesn’t require much ongoing maintenance.
But we’ve also included a few online brokerages that offer the best of both worlds (i.e., active trading for hands-on investors and automated portfolios for passive investors).
Our expert panel for this guide
We consulted financial advisors, investing experts, and our own wealth-building reporter to inform our picks for the best investment apps. You can find the full transcript of our interviews at the bottom of this page.
We’re focusing on the qualities that make an investment app and brokerage account most useful. When comparing apps, it’s wise to consider fees, investment choices, account types, and investment education resources.
Best investment app overall: ETRADE ETrade
Account Minimum
$0 ($500 Core Portfolios)
Fees
0% (0.30% Core Portfolios)
Investment Types
Stocks, ETFs, bonds, options, mutual funds, futures, and CDs
ETrade ETrade
4.42/5
Editor’s Rating
LEARN MORE
Pros & Cons
Details
Why it stands out: ETRADE is a one-stop-shop for investing. Whether you’re a seasoned investor or a beginner, you’ll find what you’re looking for. In 2019, ETRADE eliminated all stock and ETF trading fees and offers over 4,400 no-load, no transaction-fee mutual funds.
If you’re not interested in self-directed investments, E*TRADE’s Core Portfolios are a great option. After you fill out a risk profile to share your goals, time horizon, and risk tolerance, you’ll get a recommended tax-sensitive portfolio of ETFs.
You can further customize your portfolio as “socially responsible,” which shifts your allocation to include an ETF with companies that have progressive social, environmental, and corporate practices, or “smart beta,” which favors growth stocks in an attempt to outperform the market. To start investing, you’ll need at least $500.
If you’re investing $25,000 or more, E*TRADE’s Blend, Dedicated, and Fixed Income Portfolios are worth considering. In addition to a more customized portfolio, these plans include one-on-one advising with a financial consultant.
Through E*TRADE’s two mobile apps, you can access your accounts, make trades, view charts and research, and watch Bloomberg TV.
Fees:
For the active trader: $0 stock, ETF, and options trading
For the passive investor: 0.30% annual AUM fee for a Core Portfolio (minimum balance of $500)
For the high net worth investor: 0.65% to 0.90% annual AUM fee for a Blend Portfolio (minimum balance of $25,000); 0.35% to 0.45% annual AUM fee for a Fixed Income Portfolio (minimum balance of $250,000)
Account types: Individual, joint, and custodial brokerage accounts; traditional, Roth, custodial, SEP and inherited IRAs (includes rollovers).
What to look out for: While you’re able to open an account and choose a Core Portfolio with $0 down, you’ll need to fund the account with at least $500 to get started investing. Investors should also note that Morgan Stanley acquired E*TRADE on October 2, 2020.
Learn more about E*Trade »
Best fee-free investment app: SoFi Invest
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
4.65/5
Editor’s Rating
LEARN MORE
Pros & Cons
Details
Why it stands out: You won’t be charged any advisory fees, stock or ETF trade fees, or subscription fees to invest with SoFi.
For those with a set-it-and-forget-it attitude, SoFi’s automated investing platform will recommend a portfolio made up of ETFs, based on your risk tolerance. Once you decide which portfolio is appropriate, you can get started investing with as little as $1.
You won’t have to bother rebalancing your portfolio since SoFi will do it for you at least once a quarter, but if your goals or overall financial situation changes, you can adjust your portfolio and even set up an appointment with a SoFi financial planner at no extra cost. Keep in mind that you’ll still have to pay fees to the funds you’re invested in within your portfolio.
Active traders don’t pay transaction fees when buying and selling fractional shares, stocks, or ETFs. You can also invest in cryptocurrency, but SoFi charges a markup of 1.25% on those transactions. SoFi offers several different cryptocurrencies, including bitcoin, ethereum, litecoin, and others.
SoFi Money (Member FDIC), a checking/savings account hybrid with a competitive interest rate, a debit card, and unlimited ATM fee reimbursements, can store money you’re not ready to invest yet.
Fees: $0 for automated investing and stock and ETF trades; 1.25% markup on crypto transactions.
Account types: Individual and joint brokerage; Traditional, Roth, SEP IRAs (includes rollovers)
What to look out for: There are only five portfolio options available for passive investors, ranging from conservative to aggressive. Despite no advisory charges, you’ll still incur fees from the ETFs included in your portfolio.
Learn more about SoFi Invest »
Best investment app for hands-off investors: Fidelity Go
Fidelity Go
Account Minimum
$0
Fees
0%, $3/month, or 0.35%/year
Investment Types
Fidelity Flex mutual funds
Fidelity Fidelity Go
4.79/5
Editor’s Rating
LEARN MORE
Pros & Cons
Details
Why it stands out: Fidelity Go is an easy-to-understand investment app for those who don’t want to spend a lot of time or incur too many fees building wealth.
After answering a set of questions about your age, risk tolerance, and goals, a team of experts will select an appropriate portfolio made up exclusively of Fidelity Flex mutual funds, none of which charge additional management fees or fund expenses. That means you pay a flat 0.35% advisory fee, regardless of what you invest in.
You only need $10 to get started investing, and the professionals behind Fidelity Go — not an algorithm — will rebalance your portfolio periodically. You can change your investment strategy at any time from seven different allocations ranging from conservative to aggressive.
In August 2020, Fidelity changed up its pricing tiers and added an option for personalized financial planning.
Fees:
$0 for balances under $10,000
$3 a month for balances between $10,000 and $49,999
0.35% annual AUM fee for balances $50,000 and higher
0.50% annual AUM fee (minimum $25,000) for Fidelity Personalized Planning & Advice
Account types: Individual and joint brokerage accounts; Traditional and Roth IRAs (includes rollovers)
What to look out for: There is customer support, but no option to connect with a human adviser one-on-one for financial planning unless you upgrade to the 0.50% AUM fee option. No tax-loss harvesting, which can be especially valuable for higher balances. Investments are limited to Fidelity Flex mutual funds, which may be limiting.
Learn more about Fidelity Go »
Best investment app for active traders: 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
LEARN MORE
Pros & Cons
Details
Why it stands out: Robinhood is as simple as a commission-free trading app can be. Investors can buy and sell US-exchange listed stocks and ETFs (and fractional shares of both), options, and cryptocurrency without paying any fees. There isn’t a minimum account size requirement for stock, ETF, and options trades. But you’ll need at least $1 for fractional shares and a minimum of $25,000 in your account to day trade.
For access to larger instant deposits, research reports from Morningstar, and NASDAQ market data, investors can upgrade to Robinhood Gold for a 30-day free trial and then $5 a month after that. The membership includes up to $50,000 in instant deposits, plus $1,000 of margin and a 2.5% interest charge on any excess margin used.
Robinhood also has a no-fee, high-yield cash management account, which comes with a debit card and up to $1.25 million in FDIC insurance.
Fees: $0 for daily trading of stocks, ETFs, options, and crypto; $5 for Robinhood Gold membership
Account types: Individual brokerage
What to look out for: Robinhood has faced intensified public scrutiny throughout the coronavirus-induced market chaos. The New York Times reported that the app’s gamelike interface encourages young and inexperienced investors to take too-big risks, often through “behavioral nudges and push notifications.” After the suicide of a 20-year-old user who expressed confusion about the negative six-figure balance in his account after a complex options transaction, Robinhood announced a slew of changes, like adding more educational content around sophisticated options trading and hiring a specialist to assist users.
But in December 2020, the US Securities and Exchange Commission (SEC) fined Robinhood $65 million for misleading customers about its business practices with other trading firms. According to a SEC press release, Robinhood earned the majority of its revenue from trading firms that offered payments in exchange for Robinhood sending customer orders to those firms for execution. The SEC also pointed out that Robinhood failed to accurately disclose this information on its website. Without admitting to or denying the claims, Robinhood agreed to the $65 million settlement.
Earlier in 2021, Robinhood faced tremendous backlash after it prevented users from buying shares of Gamestop (GME), AMC Entertainment (AMC), Nokia (NOK), and other stocks during a Reddit-influenced share price surge.
Learn more about Robinhood »
Best investment app for portfolio customization: M1 Finance
M1 Finance
Account Minimum
$100 ($500 for IRAs)
Fees
0%
Investment Types
Stocks and ETFs
M1 Finance M1 Finance
4.29/5
Editor’s Rating
Learn More
Pros & Cons
Details
Why it stands out: M1 Finance offers investing, cash management accounts, and lending all under the same roof. On the investing end, you can either trade stocks and ETFs on your own, or choose from among 60 different curated portfolios, thanks to its Pies feature.
As mentioned above its Pies give you two options: build your own investment strategy with stocks and ETFs or choose from pre-built pies (also known as Expert Pies). With M1 Finance’s Expert Pies, you can sift through multiple portfolios to find the Pie that best aligns with your personal goals (like general investing, responsible investing, retirement investing, and more).
But customization and expert portfolios aren’t the only perks M1 Finance offers; it also provides fractional share investing and automated investing features. If you want to leave the maintenance of your portfolio to the professionals, you can utilize its auto-invest settings to schedule portfolio contributions and have M1 Finance automatically rebalance your investments when necessary.
You can also access much more with an M1 Plus subscription. This includes both a morning and afternoon trading window (standard M1 users’ trades only execute during a morning window), custodial accounts, smart transfers, and more.
Fees: No commissions or markups on trades; $125/year for M1 Plus
Account types: Individual accounts, joint accounts, IRAs, trusts, and custodial accounts (only available for M1 Plus users)
What to look out for: You’ll only be able to invest in stocks and ETFs with M1 Finance. If you’re looking to diversify your portfolio outside of these investment types, you may need to consider other investment platforms.
Learn more about M1 Finance »
Best investment app for goal-driven investing: Ellevest
Ellevest
Account Minimum
$1 – $240
Fees
$12 – $97 annually (charged monthly)
Investment Types
ETFs
Ellevest Ellevest
4.45/5
Editor’s Rating
LEARN MORE
Pros & Cons
Details
Why it stands out: Ellevest encourages you to build an investment philosophy around your goals, whether that’s starting a business, having kids, splurging on a vacation or other big purchase, buying a home, retiring on time, or simply building wealth. Your access to these goals can vary based on which membership plan you select.
Then, this female-forward online adviser takes it a step further and considers your gender, lifespan, and earning potential to create a custom portfolio of mostly ETFs. You can also opt for a socially responsible allocation, if that’s important to you.
As a fiduciary, Ellevest automatically rebalances and regularly updates your performance forecast, taking into consideration fees, taxes, and the occasional market crisis to show you whether you’re on track to meet each of your goals — and what you can do to make up for it if you’re not. The app also provides learning resources like email courses and live workshops. Financial and career coaching can also be purchased à la carte at a discount. Most recently they also added banking accounts*.
Ellevest recently changed its pricing model and now charges a monthly membership fee ranging from $1 month to $9 a month. There are no additional investment advisory fees on top of the monthly membership, but there are underlying fees charged by the ETFs in your portfolio.
*Banking products and services are provided by Coastal Community Bank, Member FDIC, pursuant to license by Mastercard International
Fees:
Ellevest Essential: $1/month for a brokerage account, a no-fee checking account with a debit card, a no-fee savings account, and 20% off financial and career coaching sessions.
Ellevest Plus: $5/month for everything included in Ellevest Essential, plus access to retirement planning specialists and help with account rollovers and 30% off coaching sessions.
Ellevest Executive: $9/month for everything included in Ellevest Plus, in addition to up to six customized investment accounts for different goals, 50% off coaching sessions.
Investment account types: Individual brokerage; Traditional, Roth, SEP IRAs (includes rollovers); checking and savings accounts.
What to look out for: You’ll have to spring for the higher-tier offerings if you want more specific guidance for your goals beyond “build wealth.” Ellevest does not offer automated tax-loss harvesting, which can be valuable for investors with higher balances. As with any investment app that charges monthly fees rather than per-account advisory fees, it’s important to note how much of your balance they represent.
Learn more about Ellevest »
stock apps
Stock apps are having a bit of a moment: While previously there were only a few popular ones, the mobile stock-trading field has exploded after Robinhood’s early success. Online brokers have clamored to up their game in order to compete with a rise of newcomers.
All of that is good news for consumers: The best stock apps now nearly mirror powerful desktop and web platforms, with advanced functionality, analysis tools, research and watch lists. They also offer low or no commissions on stock trades, low account fees and no minimum investment.
If you’re looking to place trades on the go, review our list of the best apps to buy stocks below. You’ll note that many of these come from established online brokers — that’s because these companies tend to offer apps with the most well-rounded capabilities for stock and options traders.
SHOW MORE
Best Stock Apps Right Now: 11 Top Picks
Broker NerdWallet Rating Fees Account minimum Promotion Learn More
Merrill Edge
Merrill Edge
4.5/5
$0
per trade
$0 Up to $600
when you invest in a new Merrill Edge® Self-Directed account.
on Merrill Edge’s website
Fidelity
Fidelity
5.0/5
$0
per trade for online U.S. stocks and ETFs
$0 Get $100
when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.
on Fidelity’s website
ETRADE ETRADE
4.5/5
$0
per trade
$0 Get up to $600 or more
when you open and fund an ETRADE account on ETRADE’s website
TD Ameritrade
TD Ameritrade
5.0/5
$0
per trade
$0 None
no promotion available at this time
on TD Ameritrade’s website
SoFi Active Investing
SoFi Active Investing
4.0/5
$0
per trade
$0 $5 to $1,000
in free stock for users who sign up via mobile app
on SoFi Invest’s website
Merrill Edge
on Merrill Edge’s website
Merrill Edge
4.5NerdWallet rating
Fees
$0
per trade
Account minimum
$0
Promotion
Up to $600
when you invest in a new Merrill Edge® Self-Directed account.
View details
Fidelity
on Fidelity’s website
Fidelity
5.0NerdWallet rating
Fees
$0
per trade for online U.S. stocks and ETFs
Account minimum
$0
Promotion
Get $100
when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.
View details
ETRADE on ETRADE’s website
E*TRADE
4.5NerdWallet rating
Fees
$0
per trade
Account minimum
$0
Promotion
Get up to $600 or more
when you open and fund an E*TRADE account
View details
TD Ameritrade
on TD Ameritrade’s website
TD Ameritrade
5.0NerdWallet rating
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
View details
SoFi Active Investing
on SoFi Invest’s website
SoFi Active Investing
4.0NerdWallet rating
Fees
$0
per trade
Account minimum
$0
Promotion
$5 to $1,000
in free stock for users who sign up via mobile app
View details
Vanguard
on Vanguard’s website
Vanguard
4.0NerdWallet rating
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
View details
J.P. Morgan Self-Directed Investing
on J.P. Morgan’s website
J.P. Morgan Self-Directed Investing
4.0NerdWallet rating
Fees
$0
per trade
Account minimum
$0
Promotion
Get up to $625
when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money
View details
Ally Invest
on Ally Invest’s website
Ally Invest
4.5NerdWallet rating
Fees
$0
per trade (on eligible US securities)
Account minimum
$0
Promotion
$100-$3,000
in cash bonus with qualifying deposit.
View details
TradeStation
on TradeStation’s website
TradeStation
4.5NerdWallet rating
Fees
$0
per trade
Account minimum
$500
Promotion
$50-$5000
cash credit with a minimum deposit of $5,000.
View details
Want to compare more options? Here are our other top picks:
Firstrade
Charles Schwab
Last updated on May 11, 2022
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APY
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Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors by assets under management, along with emerging industry players, using a multifaceted and iterative approach. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs.
DATA COLLECTION AND REVIEW PROCESS
We collect data directly from providers, and conduct firsthand testing and observation through provider demonstrations. Our process starts by sending detailed questionnaires to providers to complete. The questionnaires are structured to equally elicit both favorable and unfavorable responses from providers. They are not designed or prepared to produce any predetermined results. The questionnaire answers, combined with product demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (1 star) to excellent (5 stars). Ratings are rounded to the nearest half-star.
RATING FACTORS
Evaluations vary by provider type, but in each case are based upon the weighted averages of factors that include but are not limited to: advisory and account fees, account minimums and types, investment selection, investment expense ratios, trading costs, access to human financial advisors, educational resources and tools, rebalancing and tax minimization options, and customer support including branch access, user-facing technology and mobile platforms.
Each factor can involve evaluating various sub-factors. For instance, when gauging the investment selections offered by robo-advisors, 80% of the score is based on the potential for diversification (how well-diversified a resulting portfolio of investments could be) combined with the availability of specialty portfolios and level of customization for investors. Expense ratios form an additional 10% of the score, and low or no management fee the remaining 10%.
FACTOR WEIGHTINGS
The weighting of each factor is based on our team’s assessment of which features are the most important to consumers and which ones impact the consumer experience in the most meaningful way. The factors considered, and how those factors are weighted, change depending upon the category of providers reviewed.
Provider categories include: Best Brokers for Stock Trading, Best Brokers for Beginners, Best Brokers for Day Trading, Best Brokers for Options Trading, Best Discount Brokers, Best Brokers for Free Trading, Best Investment Apps, Best Brokers for Penny Stocks, Best IRA Brokers, Best Robo-Advisors, Best Financial Advisors, Best Real Estate Platforms, Best Brokers for ETFs and Best Brokers for Mutual Funds.
INFORMATION UPDATES
Writers and editors conduct our broker and robo-advisor reviews on an annual basis but continually make updates throughout the year. We maintain frequent contact with providers and highlight any changes in offerings.
THE REVIEW TEAM
The review team comprises seasoned writers, researchers and editors who cover stocks, bonds, mutual funds, index funds, exchange-traded funds, alternative investments, socially responsible investing, financial advisors, retirement and investment strategy on a daily basis. In addition to NerdWallet, the work of our team members has been published in The New York Times, The Washington Post, Forbes, USA Today, Bloomberg News, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets.
The combined expertise of our Investing team is infused into our review process to ensure thoughtful evaluations of provider products and services from the customer perspective. Our writers and editors combine to have more than 70 years of deep experience in finance, ranging from a former Wall Street Journal reporter to a former senior financial advisor at Merrill Lynch.
CONFLICTS OF INTEREST
While NerdWallet does have partnerships with many of the reviewed providers, we manage potential conflicts of interest by maintaining a wall between our content and business operations. This wall is designed to prevent our writers and the review process from being influenced or impacted by our business partnerships. This way, all reviews can provide an unbiased review that serves the interests of our users.
Conclusion
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