Investing is a great way to grow and diversify your money. The modern technology makes investing more accessible to beginners. Apps for beginners are an excellent way to get started and learn about managing your portfolio.
We have compiled a list of the top 13 investment apps (alphabetically) to help you decide which one is best for you. Only apps which can diversify your investment portfolio while learning as you go have been included.
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Acorns
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Improved
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Charles Schwab
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E*TRADE
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Fundrise
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Invstr
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M1 Financial
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Public
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Robinhood
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SoFi Investment
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Stash
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Stockpile
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TD Ameritrade
1. Acorns
Automatically investing spare change makes it simple to invest whatever you have. The personal plan allows users to quickly create an account, and start automating micro-investments as low as $3. Acorns includes portfolios that are expertly built.
Features
- Monthly Fees: 3 to 5 dollars
- No commissions for transactions under $1,000,000
- No minimum balance required to open. You can invest with Round Ups, which automatically invests spare change. Or, you need to make a minimum investment of $5.
The Pros and Cons of Using This Product
- Automatically invests change left over from your purchases
- Support for education and investments
- Select retailers offer bonus investment when you shop.
You can also find out more about Cons
- Accounts require monthly fees
2. Improve Your Life
It is a great tool for newbies because it offers automated investment. You can manage your finances, invest them, and trade your portfolio on autopilot with Betterment.
Features
- Fees: Annual fee of 0.25%, or $4/month.
- Commissions: Trade fees as low as 0.15%
- Minimum balance: None for digital; $100,000 for Premium
The Pros and Cons of Using Pros
- Hands-off investment
- Platform with a goal-oriented approach
- Options that are socially responsible
You can also find out more about Cons
- Fees for annual advice
- Minimum balance required for Premium Plan
3. Charles Schwab
Charles Schwab offers a wide range of free research services, including real-time information, quarterly magazines, reports, and much more. You can trade at any time and track your position using the app.
Features
- Transaction fees: None
- Fees for different types of securities: From $0-$250
- Minimum Balance: None
The Pros and Cons of Using Unsuccessful Strategies
- Selecting a large investment
- Research tools that are robust
- Minimums or fees are not charged
- Biometric security
You can also find out more about Cons
- Uninvested cash is subject to a small sweep-up rate.
4. E*TRADE
E*TRADE’s easy-to use app allows beginners to invest without commission. App is available on mobile devices, Apple Wearables and tablets. It offers a variety of investment options. The app allows users to access live news and Bloomberg TV, as well as third-party market research.
Features
- Charges: None
- Commissions none for online U.S. stocks, ETFs, and options trading (65 cents each per contract of options, 1.50 dollars per contract of futures, 1 dollar per bond).
- Minimum Balance: None
The Pros and Cons of Using Pros
- Selecting a large investment
- Researchers
- Interface that is easy to use
- Apple Watch Compatible
You can also find out more about Cons
- Fees for managing portfolios with high minimum deposits
5. Fundrise
Real estate is another way to diversify portfolio. Fundrise allows you to create an account in just minutes. You can choose your investment strategy, and then sit back while Fundrise diversifies the portfolio.
Features
- Fees : 0.15 % annual asset management fees, 0.85 % annual advisory fees for portfolios with standard allocations
- Commissions None
- Minimum balance:$10 per Starter Account, with varying minimums on other account types
The Pros and Cons of Using Online Shopping
- Minimum balance and low fees
- Nonaccredited Investors are welcome
- Portfolio of Investments worth $7+ billion
You can also find out more about Cons
- Short-term investments are not recommended
- The investment may not be liquid
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6. Invstr
Invstr’s Academy will help you get started. You can invest in fractional shares as low as $5 after you gain experience.
Features
- Charges: From $3.99 per monthly, plus fees for withdrawals and deposits
- Commissions : 99 Cents per fractional Trade
- Minimum Balance: None but $25,000.
The Pros and Cons of Using Pros
- Fantasy Finance allows you to practice investing without risking any money.
- Education Resources
- The largest investing community
- Portfolio and Performance Insights
You can also find out more about Cons
- Limited number of transactions per day with subscription (unlimited).
- You can only invest in U.S. stock
- There are lots of charges
7. M1 Finance
M1 Finance offers flexibility to beginners. Choose from expert portfolios that are already created or create a portfolio of your own to cultivate and develop your investing strategy. This app is free to use, but there are some fees. You must also have a minimum of $100 in your brokerage account before you can start.
Features
- Charges: There are no annual or monthly charges for members of Plus. However, other fees might apply.
- Commissions None
- Minimum Balance: $100 – $500 for some account types
The Pros and Cons of Using Locksmith
- Customization
- Automated investment
- Fractional Shares
You can also find out more about Cons
- Minimum Account Balance of $100
- Fee for inactivity
8. Public
Beginners can buy fractional shares in their favourite companies at any price they want, without commission. You can also follow your fellow investors, share experiences, and learn what they are doing.
Features
- Annual fees: $96 for Premium members
- Commissions None
- Minimum Balance: None
The Pros and Cons of Using the Internet
- Social component
- There are no hidden charges or commissions
- Referral Program
You can also find out more about Cons
- Annual fee of moderate amount
9. Robinhood
Robinhood provides commission-free investment opportunities. There is no fee and there’s no minimum. The users can create their own portfolios and trade in real-time. They also have the option to invest whatever amount they want thanks to fractional share starting at $1. The Robinhood app is an excellent choice for those who are new to trading stocks or ETFs. New users get their very first free stock.
Features
- Charges: none, or $5 per monthly for Robinhood Gold
- Commissions None
- Minimum Balance: None
The Pros and Cons of Using Pros
- Fractional Shares
- Bitcoin options
- Retirement Options
You can also find out more about Cons
- Free research offers
- Bonds and mutual funds are not allowed
10. SoFi Invest
SoFi Invest, one of Apple’s top-rated investment apps, is suitable for investors with all levels of experience. Beginners may choose automated investing to build wealth with SoFi. Beginners can also diversify their portfolios by selecting from stocks, crypto or ETFs.
Features
- Charges: None
- Commissions None
- Minimum Balance: None
The Pros and Cons of Using the Internet
- Platform that is easy to use
- Cheaper Trading
- Easy Access to Investment Insights
You can also find out more about Cons
- Investment options
11. Stash
Stash offers two subscription plans that allow you to buy fractional shares. The learning center offers resources that teach about investing, and keep you up-to-date on the latest money news.
Features
- Monthly Fees: From $3 to $9
- No commissions for trading
- Smart Portfolio Minimum Balance: $5
The Pros and Cons of Using Pros
- Education Resources
- Investment advice tailored to your needs
- Automated investment
You can also find out more about Cons
- The monthly fees are high when compared with a small account balance
- Four trading windows
12. Stockpile
Stockpile’s Stockpile membership plan allows new investors to begin investing as low as $4.95 a month. You can purchase fractional stock shares for any dollar value or give ownership of any number of stocks with the help a gift certificate. Stockpile offers a wide range of stocks and ETFs without any account fees or commissions.
Features
- Membership Fees: none
- No commissions with membership
- Minimum Balance: None
The Pros and Cons of Using Pros
- Redeemable stock gift cards
- Fractional Shares
- Education Resources
You can also find out more about Cons
- To use certain services, you must be a member
13. TD Ameritrade
The award-winning mobile trading platform offers a great option for both beginners and experienced traders. Beginners can learn more with the help of how-to video tutorials. The TD Ameritrade App also provides free market research, including charts, reports and news, accessible on your phone, tablet, or smartwatch.
Features
- Fees: No hidden fees
- Commissions No commissions for U.S. online stock, ETFs or options trading; 65 cents/option contract.
- Minimum Balance: None
The Pros and Cons of Using Pros
- Research and education are available in abundance
- Selecting a large investment
- 24/7 customer support
- Apple Watch Compatible
You can also find out more about Cons
- There are no fractional shares
- Fee for advisor program (as a percentage of assets managed)
Questions and answers about investment for newbies
What can I do to start investing as low as $1?
On investment apps, investors can purchase fractional shares for as low as $1.
Are apps suitable for active trading?
Active trading is available in investment apps like Charles Schwab and Robinhood.
What assets can be traded?
Investing apps can be used to trade in stocks, bonds ETFs, and mutual funds.