Investing can be a daunting task. However, with the rise of technology, there are now investment apps available that make investing more accessible, convenient, and even enjoyable. In this article, we will explore some of the best investment apps perfect for beginners and everyday investors looking to get started with investing. These apps offer a variety of features that allow users to invest small amounts of money, learn about investing, and track their investments all in one place.
Important:When it comes to investment apps and trading platforms, it’s essential to understand the risks and potential rewards involved. Before investing any money, be sure to review the app or platform’s disclosures. These disclosures will provide important information about the app or platform, including the fees associated with using it, the types of investments available, and the potential risks involved. Additionally, it’s important to do your own research and understand the market conditions that may impact your investment.
List of Best Investment Apps for Beginners & Everyday Investors
1. eToro
- Monthly Fees: None
- Commissions: None for stocks & ETFs
- Minimum balance: None
eToro is a multi-asset social investment platform where you can trade and invest in everything from crypto assets to Stocks, as well as trading CFD assets. In addition, eToro has an extremely popular copy trading feature, allowing you to view what real traders do in real time and copy their trading automatically.
Another aspect that sets eToro apart from other online brokers is its user-friendly interface and easy-to-use mobile app. eToro offers a simple and intuitive trading experience, which makes it accessible to people who may not have extensive experience with investing. We have reviewed eToro in detail here.
Pros:
- Multi-asset Trading Platform
- Copy Trading
- No Commission Fees
- Social Trading
Cons:
- No Bonds or Mutual Funds
- Inactivity fees (After 12 months of inactivity)
Try eToro
76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.Take 2 mins to learn more
2. Robinhood
- Monthly Fees: None ($5 for Gold)
- Commissions: None for stocks, ETFs & options trade
- Minimum balance: None
Robinhood is a popular investment app that offers commission-free trading of stocks, ETFs, options, and cryptocurrencies. The app is known for its user-friendly interface and easy-to-use design, making it a popular choice for beginners and everyday investors. Robinhood also offers fractional shares, allowing users to purchase a portion of a stock rather than buying a whole share.
Pros:
- Retirement Options
- No Monthly Fees
- No commission on Crypto
Cons:
- No Bonds or Mutual Funds
- Gold Plan is required to access data & research
3. Acorns
- Monthly Fees: $3, $6 and $9
- Commissions: None for accounts under $1 million
- Minimum balance: None ($25 deposit at opening)
Acorns is a popular investment app that enables users to invest in different stocks and bonds. It offers different investment portfolios based on the user’s risk tolerance and investment goals and charges a small monthly fee for its services. The app also offers educational resources and tools to help users better understand their finances and make informed investment decisions.
Pros:
- Automatic Saving Feature
- Variety of Investment Portfolios
- Good Educational Content
Cons:
- Monthly fees
- Costly transfers
4. WeBull
- Monthly Fees: None
- Commissions: None
- Minimum balance: None
WeBull is a commission-free trading platform that enables investors to trade stocks, ETFs, and options. The platform offers many features, including advanced charting tools, real-time market data, and customizable watchlists. The platform also supports extended trading hours, enabling users to trade outside regular market hours.
Pros:
- Commission Free Trading
- Advanced Tools
- Extended Trading Hours
Cons:
- No Mutual Funds Trading
- Lack of Quality Educational Content
5. Fidelity Investments
- Monthly Fees: None
- Commissions: None for Stock, ETFs, Options, New Issue Bonds, CDs, trade
- Minimum balance: None
Fidelity Investments is a popular investment app offering various investment options, including stocks, bonds, mutual funds, and ETFs. It is very good for beginners and active investors.
Pros:
- Commission free trades
- Various research providers
- Top of the line Customer Service
Cons:
- It can be overwhelming for new investors
- High broker-assisted fees
6. Stash
- Monthly Fees: $3 & $9
- Commissions: None
- Minimum balance: None
The Stash app allows users to invest in stocks and exchange-traded funds (ETFs). It offers a range of investment options, from conservative to aggressive, and users can choose to invest in companies that align with their values and interests.
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Pros:
- Automated investments
- Monthly Fees
- Excellent educational material
Cons:
- No tax optimization strategies
7. Public
- Monthly Fees: $10 for Premium
- Commissions: None
- Minimum balance: None
Public.com is a popular investment app that allows users to invest in stocks and ETFs commission-free. You can follow other investors, see their trades, join communities based on interest. Public.com also offers fractional shares, which allows users to invest in stocks and ETFs for as little as $5, making it easier for beginners to get started.
Pros:
- Good educational resources
- Commission free trading
Cons:
- Limited investment options
8. E*TRADE
- Fees: None
- Commissions: None for Stocks, ETFs, Mutual Funds and options trade
- Minimum balance: None (Account must be funded once within 30 Days)
E*TRADE is an online brokerage firm that offers customers a variety of financial services, including stock trading, options trading, and banking. It is one of the largest online brokers in the US.
Pros:
- Commission free trading
- An established name in the industry
- Great research tools
Cons:
- The website can be a bit clumsy to use
9. Interactive Brokers
- Fees: None
- Commissions: None for Stocks & ETFs
- Minimum balance: None (One time $100 deposit at account opening)
Interactive Brokers has advanced trading tools, low commission rates, and extensive research capabilities. It’s great for experienced investors who trade frequently and want to keep transaction costs low. It is a versatile choice for trading in multiple markets and asset classes.
Pros:
- No trading commissions for Stocks & ETFs
- Good research tools
- Many no-transaction-fee mutual funds
Cons:
- Complicated process for account opening
10. M1 Finance
- Monthly Fees: None ($3 for M1 Plus)
- Commissions: None
- Minimum balance: None (Initial $100 to $500 deposit as per account type)
M1 Finance is a hybrid robo-advisor platform for buy-and-hold investors. It allows users to create model portfolios and automate their investments. It also provides cash management services and low-cost borrowing options.
Pros:
- Advanced portfolio-building tools
- High interest rate on uninvested cash
- Dynamic Rebalancing
Cons:
- Limited educational sources
11. Betterment
- Fees: Annual 0.25% Fees or $4 per month (Several additional fees as per portfolio balance)
- Commissions: None for Investing Plan
- Minimum balance: None
Betterment is a robo-advisor platform that offers automated investing, high-yield cash accounts, and tax-advantaged IRAs. It provides personalized advice and optimizes your savings and spending, helping to minimize taxes and maximize returns. You can read our guide on how to calculate your salary.
Pros:
- Goal-based tools
- Automated Portfolio Adjustments
- Tax-loss harvesting
Cons:
- Slightly higher fees
- Premium Plan requires $100k for human advisors
The investment apps listed above offer a variety of features that make them ideal for beginners and everyday investors looking to start investing.
Also read:
Frequently Asked Questions (FAQs)
Can apps be used for active trading?
Yes, apps can indeed be used for active trading. The platforms we mentioned above provide real-time market data, advanced charting tools, and seamless trade execution, making them suitable for active trading.
Which assets are available to trade?
Several types of assets exist, including securities, stocks, ETFs, bonds, commodities, mutual funds, and more.
Which investing app features are most important?
Starting with low fees or maybe none, it must have good educational resources, commission-free trading of stocks & ETFs and other assets if possible, good customer service, no hidden fees, and reliability.
How much money do you need to start investing through an app?
You can start investing with as low as a $5 deposit using the apps we mentioned earlier.
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Can you lose money with an investing app?
Yes, you can lose money when investing through an app. Investing in the stock market always comes with risks, and the value of your investments can go down as well as up. This means you could lose some or all of the money you invest. It’s important to understand these risks and only invest money you can afford to lose. Additionally, some investing apps may charge fees that could impact your returns. Always research and consider seeking advice from a financial advisor before making investment decisions.
Do you have to Pay Taxes on Profit from Investment?
Yes, you have to pay taxes on the profit booked on the investment in most countries. So for you, the best way to go will be to refer to your local country laws and maybe hire someone to do it for you!
