With the development of technologies, our lives became easier. There are a lot of ways to earn money (due to the variety of professions) as well as the ways how to invest it. Currently, through the mobile device, you may perform various operations, including invest. Thanks to the rapid growth of investing processes and investing apps you may invest your money sitting on the cozy sofa at home. No matter what kind of investor you are—beginner or advanced, indexer or stock trader —you are able to find the best investing app that will be fully up to your requirements.
Investment for Everyone
People like to hear myths and stories concerning money. What do people do if their neighbor reassures that it is too late to invest? Funny thing, but humanity likes to believe in myths. In fact, there is not a perfect age to start investing money. If you have a chance to invest, use it now.
Current Investing Apps
Historically you knew that if you are aimed to invest your money, the first you do is to find a broker or a financial advisor. They provide you with plenty of valuable advice concerning how and where invest money. But even low-cost investment companies come with barriers to start investing.
Now, with the help of best-investing apps, you are able to start investing with a small amount of money. It is quite valuable. Taking into consideration the critical factor in building wealth, not everyone has the opportunity to start investing at the young age. That is why such investing apps are important to push the investing process forward. The sooner you start, the sooner you’ll build your net wealth.
Manage Your Financial Responsibilities
Everyone or most everyone knows his own vital goals. It can be a new car or motorcycle, buying a long-waiting house for a big family, saving money for retirement nest, strong desire to spend holidays abroad, and many others factors that are so important for everyone. That is why there are apps for investing money in. They help to manage financial responsibilities without any inconveniences.
If you even have extra 5 dollars a week you may save them for investing. The best investing apps and your phone or even tablet you are able to get expert advice, review your options and even test out the market. Now, apps help guide you.
Top 11 Investment Apps
What Is Robinhood?
Robinhood’s investment apps are the simplest way to invest without any additional commissions and at the same time be able to successfully follow a market. This app will be helpful while trading stocks, options, and cryptocurrency – all fee-free. Keep in mind that Robinhood won’t offer you any advice, so you should know, for what exactly you invest.
A convenient mobile interface of Robinhood makes the investment tasks even simplest to do. The app is easy to navigate – you move from screen to screen without the extra hassle and successfully trade the financial market. You can follow a stock’s page as well as statistics. Robinhood provides you a quick guide of news from the investment companies too.
It is worth mentioning that you can start trading immediately while using Robinhood according to the ability of the program to deliver the first $1000 straight after you deposit to the account. Moreover, a premium version of Robinhood Gold provides users deposits on higher amounts – up to $50,000.
Robinhood is one of the best stock investment apps. A smart interface in combination with no fees for trading stocks and crypto trades will ensure you the best work with your investment.
Robinhood Account Minimum
- No commission for a stock trade
- No account minimum required
- Allows Investors to Diversify Without Purchasing a Mutual Fund or ETF
- No Dividend Reinvestment Plan (DRIP)
- No retirement accounts
- Limited trade options
Robinhood app offers 100 % free stocks trades. If you decide to open an account on the Robinhood app, be sure you will not pay a commission for a stock trade. A million people use this app to buy and sell stocks for free. It saves a lot of money in fees. Robinhood might be a great trading stock for beginners. It is for people who are interested in the active investing approach. This app lacks detailed research, analysis and financial information offered by other applications. But you may combine this app with the other one that provides financial information, and gain the necessary information. The app allows you to make limit orders and stop loss orders too. The app includes a clean user interface and basic research tools. A lot of successful investors pair Robinhood investing app with one or more free research tools. It allows making a wiser and more systematic approach to invest money in. Robinhood doesn’t include the function of DRIP and so, if you earn $2.00 in dividends, it will sit in cash until you have enough money to buy a full share. It has not retirement accounts. You have not the ability to trade options, mutual funds or foreign domiciled securities.
What Is Betterment?
Betterment Account Minimum
Free up to 1 year;
After – 0,15-0,35 % a year
- Low management fees
- Easy, passive, hands-off investing
- Automatic free tax-loss harvesting
- Tax-coordinated dividends
- Retire guide calculator
- Fixed investment portfolio
- No REITs or commodities
- Required higher fees to access expert help and management
- Can’t allocate assets using external accounts
Betterment is one of the most well-known robo-advisors on the market. This money investing app will manage your money for free up to 1 year. After that this app charges 0.15% to 0.35% a year (depends on how much you invest). Betterment uses complex computer programs to find the optimal and the cheapest set of tools for you. It affects taxes. All you need to start using this app is only 1 dollar. You answer a few basic questions and then Betterment does all the work by itself. It uses algorithms and provides the ways where you may invest money. It invests your money and controls it all the time. It makes forecasts concerning wealth accumulation and withdrawal. It has a retire guide calculator that gives you individual advice on planning retirement. It concerns all the factors that are important for you (where to invest money, how much to save a year, retirement income, when to retire). It has no REITs. Betterment states this asset class does not increase profitability. As mostly all robo-advisors, Betterment investing app is that they are able to manage accounts for Betterment. It can’t create a general asset allocation plan based on your 401 (k) plan.
What Is Wealthfront?
Wealthfront Account Minimum
Free under 10k;
0,25% after that
- Free for Accounts Under $10,000
- Tax-Loss Harvesting for All Accounts
- Direct Indexing
- Easy to manage the portfolio
- 529 Plan
- Free Portfolio Review
- No ability to buy fractional shares
- Portfolio Review is Not Comprehensive
Wealthfront is a robo-advisor and a financial planner that offers standard and as more specialized investment services. It makes investing cheaper and profitable for you. It chooses the best 20 portfolios that are the most suitable for your risk tolerance and personal investing goals. To start you need $500 and in return. Wealthfront manages your money for FREE up to $10,000 (fee is only 0.25% a year). All you need is to answer a short questionnaire and the app will automatically start to invest your money. All accounts come with tax loss harvesting. In addition to Wealthfront’s use of automated tax-loss harvesting, it provides additional tax benefits. Wealthfront is the only robo-advisor that offers Direct Indexing (for those who invest more than $100,000). It includes 529 College Savings Plan, which is free for the first $10K. This Wealthfront 529 plan is domiciled in Nevada. That is why so Nevada residents gain an additional $ 15k for free, a total of $ 25k. One of the app’s disadvantages is the absence of ability to buy fractional shares of investments.
What Is Openfolio?
Openfolio Account Minimum
- Great to see verified investing
- Strong IOs and mobile presence
- Suggests tracking, useful updates, and tips
- Doesn’t conduct research beyond the others
Each investing depends on n your financial position. So, Openfolio serves as an investment and financial management resource at your finances. It collects all of your financial accounts in one place. Openfolio can compare your portfolio performance with the other investors’ portfolios. You may even their profit and asset allocation even if you will not know how much they have invested. It allows you to update or change your portfolio if you see that if the investments or the ideas you’ve chosen are ineffective. The app is free. The app suggests tracking, useful updates, and tips, as well as a full view of your financial point.
What Is Acorns?
Acorns stays one of the most popular financial apps since it is quite easy to use. It is a program from a range of easy investment apps – all you need to do is to link your credit or debit card to the account. Acorns are responsible for investing the difference from round-up the sum of your purchase to the next dollar into one of the several portfolios.
You need to pay a fee – $1 per month for Acorns Lite, however, the program suggests some other variants. For instance, Acorns Personal will cost $3 per month (Acorns Lite is included). The new level of investment offers you an individual retirement account. There are three versions of this function – a traditional one, a SEP, or Roth. Besides, for a fee of $5, you will get Acorns Family that ensures the features of previous levels, and an opening of investment accounts for your children as well.
Another great feature of Acorns is the forming of your portfolio based on the time until retirement comes. The company offers you a protected checking account as well as no request for extra fees and free admission to ATMs.
Acorns app will be suitable for users who don’t want to spend much time figuring out the specifics of the financial app’s work. Get Acorns, if you are interested in a retirement investment without any worrying, and if you were willing to have an automatic financial program too. This app is a great choice since you can earn money by purchasing with a linked card at partner retailers.
Acorns Account Minimum
1 dollar a month
- Free management for college students
- Low commission for accounts under $5000
- Automatically invests spare change
- No minimum deposit
- Educational content available
- Limited account options
- Small investment portfolio
- Commissions on account over 5000 dollars
The Acorns is a robo-advisor that offers micro-investing. It has monthly $1 fees. When you reach $5k you will pay 0, 25 %. For 4 years Acorns is free for college students with a valid education e-mail address. It recommends one pre-set investment portfolio which includes a few questions to choose what type of investor you are. It is a version of a piggy bank. It means that if you link Acorns investing app to the debit card it will round up your purchases to the nearest dollar amount and add that extra change to the investment account E.g.: if you buy a tea for $3, 60, it will round it up to $4. This $0, 40 it would put in your investment account. It is one of the best investing apps for beginners. Acorns offer only taxable accounts and do not have any options for Roth IRA or other tax-deferred accounts.
What Is TD Ameritrade?
Let’s start with a quite successful app for both beginners and advanced traders. TD Ameritrade provides an easy interface with different features suitable for every investment purpose.
This app has no commission for online stocks, options trades, and ETF. Other fees included $25 for trades with the assistance of a broker and $50 for no-load mutual funds. You will get a wide range of investment types, as stocks, ETFs, bonds, futures, mutual funds, and some more. The program ensures support for standard, retirement, or education accounts. The main advantage of TD Ameritrade is the absence of the minimum balance request as well as no fees for trades.
TD Ameritrade provides its mobile app that will suit the best for pros. However, it has an easy-to-use interface – even beginners will deal with it and successfully solve every financial task. Many users prefer this app since it has no additional payment for the advanced trading project. Don’t miss your chance and start to invest today!
Quick Facts About TD Ameritrade
TD Ameritrade Account Minimum
TD Ameritrade Cost
- Great investment selection
- Easy access to the site
- High-quality trading platforms
- No deposit minimum
- A high per-trade fee ($6,95)
- Expensive broker assisted equity trades and no-load mutual fund trades
It is one of the best and the oldest names in online brokerages. It includes numerous advanced tools which make the research opportunities endless. TD Ameritrade’s commission for mutual funds includes $49.99. In order to buy stocks, you need to pay $6.95 per online trade. You are able to invest in over 100 ETFs from industry giants without any commission. Moreover, you may have access to the numerous mutual funds without paying fees or commission. It has no account minimum. That is why it is accessible to everyone. It offers beginners access to numerous investable assets. It is a great choice for those who want to create a diversified portfolio. TD Ameritrade includes 2 different trading platforms: Thinkorswim and Trade Architect.
What Is E-Trade?
Be sure this app is one of the top-rated investment apps – in 2019 E*TRADE eliminated all ETF and stock trading payment. You can find here everything about financial transactions and trading – E*TRADE mobile apps support banking, usage of accounts, viewing charts, and investing.
Customizing of own portfolio will be a good solution since you will get an offered tax-sensitive portfolio of ETFs. You need to have at least $500 on the account to start invest. Whether you invest $25,000 or more, there is a great option to get a customized portfolio with the additional assistance of a financial consultant.
When it goes for fees, there is 0% for trading, 0.30% for automated accounts, and 0.35%-1.25% for managed accounts. Types of available accounts include individual, custodial brokerage, joint traditional, SEP, and some more. You can invest in stocks, bonds, options, mutual funds, etc. It is required to have $500 on the main account for core portfolios, however, there isn’t a request for an account minimum.
E*TRADE is a reliable investment app that provides users different options. The interface of the app will be clear for both beginners and advanced investors. Keep in mind that E*TRADE requires a minimum of $500 on account for starting investment – that’s not a big problem, whether you are truly interested in investing.
E-Trade Account Minimum
- Easy-to-use tools
- Large investment selection
- Reduced commissions for frequent traders.
- Higher commissions for low-volume traders.
- Minimum balance requirement for the active trading platform.
It is a well-known online brokerage. It is one of the best-known online brokers. It is an easy-to-use platform for online trading even for the beginners. To open an account on E*TRADE you need at least of $500. All traders have access to the basic research center, which features real-time quotes, interactive charts, and even tax advice. The most active traders are upgraded to the E*TRADE Pro platform, which opens the door to the additional tools, such as customizable watch lists and the CNBC stream ability. It has a great built-in investor education center. It may be a great choice for those investors who want to open stable, long-term investment accounts. Its fees include $6.95 per trade. But if a trader makes at least 30 trades per quarter, he’ll get a discount of $4.95 per trade.
What Is Stash?
Stash Account Minimum
$1 per month or 0.25% per year for account greater than $5000
- Simplified investment procedure
- Builds your investment portfolio
- $5 to start
- Invests your money in the most suitable way for you
- Automatic investments
- Free Stash for the first month
- Income is taxable
- Works costly for smaller accounts
This investment app is a robo-advisor that may perform all your financial operations. Stash app is available only in the USA. It is an easy-to-manage investing app, which requires only 5 dollars to start. It gives you necessary recommendations and guidance, which are based on your answers to a set of questions, personal preferences, and needs. It makes easy management of this app. This app may be the most suitable for the beginners and those who are happy to give minimal input. Simple investing philosophy may be easy even for the inexperienced investor. The $5 opening account allows you to take a fractional share of an asset such as ETFs. You do not charge for the first month. Accounts with the balance from 1-5000 dollars are charged $1 per month for the second month. For accounts over $5,000, a fee of 0.25 percent is charged per year. So Stash may be suitable for you if you are new to the world of investing or the funds at your disposal is less.
Best Investment Apps For Beginners
Many beginners get confused, which brokerage company is better, how much money is put on the account, and what to invest – that’s true. Here is where easy-to-use investment apps appear. Getting a good helper while investing will minimize a risk to get problems with financial transactions as well as will make the process of creating the investment more clear – it is what novice investors need at the beginning.
The following list of top five investment apps will help you to choose a suitable one. A perfect app for investing should have a clear interface, advantageous investing offers, and a minimum of required commissions.
Imagine, you went shopping and spent there $30.35. Whether you use Acorns and have linked your credit card, the app will take a change between the price and round-up to the next dollar, and invest it in ETFs. This way, you can easily invest in while your everyday purchasing. This app is also good because no minimum balance is required. Get Acorns, if you don’t want to invest a lot of cash as well.
Using this app, you can easily create a personalized portfolio and enjoy the advantages, like fractional share investing and the opportunity to use costly stocks without getting a full share. M1 Finance doesn’t require additional commissions as well as management fees, that is good news for every beginner.
Robinhood allows the users to invest in cryptocurrencies as well as in ETFs and trading stocks. Other great options included a clear interface, no commissions and fees, fractional shares, and no minimum balance on your account. Whether you want to expand the range of financial opportunities, get Robinhood Gold for $5 per month, but be sure the ordinary version is no less useful!
Stash works similar to Acorns – rounds up your price while buying and invest it. The great advantage of the company is an opportunity to get financial education as well as individual guidance throughout all investments. Be sure that Stash doesn’t require any balance minimum, and you will be able to invest in fractional shares or stocks.
Get this investment app, if you are willing to plan your finance. Betterment will help you to elaborate your investment planning for every life goal, as the education of children or a wedding. You will need to pay an annual fee of 0.25%, although any other fees or minimum balance for the account are not required.
Best Investment Apps For College Students
Whether you are a student, it seems that you don’t have a large amount of money. An investing is always a good idea, but you need to invest as little as possible – the next challenge is to find a suitable investment app with the most advantageous offers. Keep reading and find out which investment apps will suit the best for college students.
This financial service provides users with great customer service, a handy interface, and an automated system. The great offer to the students is automatic cash back from thousands of partners – you need to have Betterment Checking or Betterment Visa Debit Card to buy and get a cashback. There is also s referral program – join friends to Betterment and get some special offers.
Robinhood ensures great educational resources which will be so suitable for all the students as well as for beginners. The company offers a piece of useful information to the customers that is related to trading and banking, however, you can easily customize the news. A referral program is also worth mentioned – every friend will bring to you a free stock. You will be able to earn at least $500 of free stock each year.
This service will be the most suitable for students who want to communicate with other investors and traders. You will have an opportunity to attend online events and follow important news as well as improve your financial education. The Public also provides great portfolio settings. You can get a gift – a stock for free for every friend you bring. A referral program gives you a chance to earn successfully free stocks for trading.
Webull brings to the users an advantageous offer of earning free stocks. It works in the next way – the opening of an account gives you one free stock, a second stock you will be able to earn after depositing $100 or more. Whether you bring a friend, you will get two free stocks. Apart from great promotions, Webull also provides a personalized platform as well as good tools and analysis of charts.
E*TRADE provides powerful trading tools for every level of user’s experience. In addition, this platform is great for getting familiar with financial knowledge since a company ensures educational sources. That’s exactly what every beginner or college student needs. The interface of E*TRADE is easy to navigate, and the guidance will be helpful for every customer. When it goes to a referral program, a company allows earning a $50 Amazon gift card for bringing a friend. In general, E*TRADE is a good investment app every college student will evaluate.
Best Investment Apps For Stock Traders
Today, many investors successfully practice trading stocks on mobile devices by using reliable investment apps. Such apps should offer no commission stocks and ETFs and provide a full range of financial features. A clear and easy-to-navigate interface is welcomed too. The best investment apps for stock investors included:
This online broker is #1 for everyday investors and traders. Fidelity offers to the customers powerful tools, great retirement service, and no required commission for trades. The Fidelity website and mobile app are quite easy in using, in addition, a company provides users with good sources of education. It is great for market researches, whether you track stocks, ETFs, and mutual funds.
E*TRADE is a great combination of a convenient design, powerful tools, and a variety of helpful financial options. This app will suit the best for active and options traders as well as for beginners. E*TRADE stands out by $0 trades and a wide range of trading tools – it will be a good helper while trading your stocks.
TD Ameritrade ensures to the users powerful trading platforms, no commission for trades as well as great customer service. This app suits also beginners since there are good educational resources, easy to use interface, and the ability to track market researches. TD Ameritrade allows traders to use an account almost everywhere – from Apple CarPlay to Facebook, sounds great, isn’t it?
Interactive Brokers is considering the best investment app for the pros due to the powerful trading platform with different great features. Still, this app will suit the active traders too – there are $0 trades and easy to navigate website. Interactive Brokers stands out by its ability to access global markets – this function is available in 33 countries. This company is a winner because of offering around 68 vary investment types.
Whether you are a client of Bank of America, Merrill Edge is the best choice for you – you will be able to join the Preferred Rewards program. Besides, Merrill Edge provides perfect customer service, an easy-to-use mobile app, and no commission for stocks and ETFs. Account management is on a high level too. The trading platform of Merrill Edge full of great financial features will suit every stock trader, however, there are some doubts if options traders or day investors will prefer this brokerage company to many others.
How Much Money Do I Need To Get Started?
You don’t need a big amount of money to start to invest. Current fees in the apps are quite low, so you can easily start with any amount. Of course, how much you should invest depends on your individual need and financial situation.
The main rule while investing is to invest regularly. You need to add some cash to the account from time to time for the accumulation of money. The more money you put, the more success in the investment you will get. It works in the next way – you put money to multiply it, so you must be interested in investing regularly for getting a pleasant result in your wallet.
In addition, many apps investments haven’t big requirements for a deposit, so you can easily start investing from a minimum account balance. Certain free investment apps will provide you a chance to start with around $5 or less on the account – no wonder that fractional share investment has become quite widespread today. Go ahead and start to invest without any fear, even if you don’t have much money.