Best Investment Apps for Beginners

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In such a volatile landscape, investors must make the most of reliable tools. One of these reliable tools that cannot be overlooked in the modern era of investing is investment apps. 

Webull

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  • Trading Fees: $0
  • Account Minimum: $0
  • Promotion: Receive 2 free stocks

M1 FINANCE

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  • Trading Fees: $0
  • Account Minimum: $0
  • Promotion: No current promos

ETORO

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  • Trading Fees: Depends on trade
  • Account Minimum: $200
  • Promotion: No current promos

Why Use an Investment App?

Whether you’re just now getting your feet wet in the world of investing or you’re a seasoned veteran, the right investment app can take things to the next level.

In an environment with almost no guarantees, it would be crazy to disregard a guaranteed tool to make your life easier. Of course, half the battle is choosing the best investment apps for your needs. 

As these apps offer varying features, and each has its strengths and weaknesses, it becomes essential to consider which app is right for you.

Investment apps will no doubt save you a ton of time, and time is money. Long gone are the days of using your landline to call stock brokers to execute even the smallest stock trading. 

Not to mention the commission fee that you’d forfeit is now extinct. Today, all you need is a smartphone. 

An excellent investment app's defining factors can be categorized with how easy it is to use, how much it's going to cost you to use, and the spectrum of investment options.

We've judged the following apps using these criteria. 

Compare Top Investment Apps Reviewed in 2021

Webull - Best Overall

Webull icon

The opportunity for commission free trading is one of the significant attractions of investment apps. Webull is excellent for beginners because the service offers a ton of technical knowledge. 

If you’re looking to improve your investment expertise, then Webull seems like the place to be. 

On Webull, some features are free, while other premium features come at a cost. Webull offers the broadest range of free features, including real-time market data and tools for analysis. 

Thanks to a user-friendly interface, everyone can feel comfortable using these tools. Although there are no commission fees, users can expect to pay FINRA and SEC fees. This is standard when it comes to the best investment apps. 

Webull is one of the most expansive and highly regarded free to use investment apps on the market.

Pros

  • No commission fees
  • Tons of technical data provided
  • User-friendly interface
  • Great for beginners

Cons

  • Investment options are limited as not all trading is supported.
  • Some stocks are restricted.

M1 Finance - Best for Automated Investing

m1 finance icon

M1 Finance excels in the creation of a specialized portfolio. Customization is a significant strength of the M1 Finance Investment app. 

For this reason, it is recommended for experienced users. Beginners may lack the knowledge to get the most out of the automated investing features. 

It is rare to see luxurious features such as these come with no portfolio management fees. Also, there are no fees connected to withdrawals and deposits. 

Traditionally, portfolio customization comes at the cost of control. However, M1 Finance allows the user to keep control as well as gain portfolio management features. This means that users must know what they’re doing.

M1 Finance is an excellent fit for the experienced investor who isn’t afraid of advanced features.

Pros

  • Offers full control over your portfolio with no asset management fees.
  • No commission fees
  • Pie system offers visual content
  • Investment options are diverse

Cons

  • Do-it-yourself platform means it is not welcoming to beginners and offers little help with setting financial goals
  • Not ideal for active traders

eToro - Best for International Traders

etoro icon

eToro specializes in cryptocurrency trading. Few trustworthy apps and platforms support this type of trading; therefore, eToro earns praise for being unique. 

However, users must be wary of the high trading fees that come with dabbling in cryptocurrency. This is inescapable when dealing with cryptocurrency. It isn’t so much a result of eToro’s service, but an element of dealing with cryptocurrency. 

The user-friendly app is fully functional for US users as well as EU users. The interface is easy to navigate, and traders have the advantage of copying the strategies of other users. 

This recommendation system has birthed a community of traders who have built a network of knowledge ready to be utilized by new users.

Pros

  • The social trading aspect has made it easy for investors to learn from top traders.
  • User-friendly interface.
  • EU users have a ton of trading options.

Cons

  • High trading fees.
  • US users are limited in comparison to EU users.

Public.com - Best for Social Trading

Public-com Icon

Public.com, previously known as Matador, went through a rebranding in recent times. The rebrand brought forth a much more streamlined experience for users. 

One thing that hasn’t changed is Public’s focus on commission-free stock trading. Nowadays, the competition between commission-free platforms is fierce. Apps must rely on other features to set themselves apart.

Public relies on its social trading aspect. Users can seamlessly fit into this community of investors, offering an ease of interaction between traders.

Users may have to deal with limited investment options; however, a focus on fractional investing is sure to please anyone looking for this investment option. 

Pros

  • Fractional stocks
  • Commission-free
  • Strong social community

Cons

  • Lack of tools and data analysis
  • No cryptocurrency options

Betterment - Best for Automated Trading

Betterment Logo

If you’re looking for more of a passive investing role, Betterment offers automated services that do the investing for you. Depending on the amount you’re willing to invest and your portfolio generated by answering some quick questions, Betterment makes the ideal investment. 

The app is great for newcomers who prefer to stick to low-risk options. With no minimum, users can choose to put as little money down as they wish.

Financial advice is yet another substantial aspect of Betterment. Professionals are ready to dish out years of wisdom, depending on your situation. This platform may not appeal to experienced investors who wish to have more control over their portfolios.

Pros

  • No minimum
  • Experienced professionals ready to offer services and advice.
  • Creates a plan based on your responses to a questionnaire.

Cons

  • Limited opportunities for experienced investors.
  • Access to a financial planner will cost upwards of $200.

Acorns - Best for Saving

Acorns logo

In terms of innovative concepts, Acorns certainly delivers. The idea behind Acorns is to make the most of your transaction leftovers by turning them into savings. 

Acorns rounds up money from transactions and automatically invests into a portfolio. This is known as micro-investing. The amounts aren’t as lucrative, but it is a creative way to save money. 

Acorns' pricing tiers are quite attractive as they let you pick a model that works for you. The Lite package will cost $1 a month, the personal package will cost $3, and the family package comes out to $5 a month. 

Recently, Acorns has implemented banking options within its app, which further adds to the list of excellent features. The $3 package offers enough services to please beginner and moderate investors.

Using Acorns is a fantastic way to save money you might have otherwise spent.

Pros

  • Long term micro-investment made easy.
  • Banking options.
  • Pick the plan that’s right for you.

Cons

  • Limited investment options.
  • Paying for the service may not appeal to all.

Robinhood - Best for Beginners

Robinhood icon

Robinhood is perhaps the most trending app on this list at the moment. Thanks to a commission-free system and diverse stock trading options, Robinhood has become the go-to free-to-use app. 

Robinhood has made a name in the industry by wishing to change the way trading works. This focus on innovation has shifted plenty of eyes towards the platform. 

Robinhood was one of the first apps to offer no commission fees and a lack of additional fees. Today this is quite widespread among the best investment apps, so the allure of Robinhood has somewhat diminished over time. 

Nonetheless, Robinhood remains a solid option for those looking for variety. 

Unfortunately, Robinhood has its weaknesses. There is a lack of depth both in terms of interface and advanced tools. Limited data will turn experienced traders away. A large number of users, most beginner traders, continue to use the app.

Pros

  • Absolutely zero fees of any kind.
  • Some cryptocurrency options.
  • No minimums .

Cons

  • Lack of depth, insight, and resources.
  • No trading mutual funds and bonds.

What Is an Investment App?

The idea of a smartphone app and the concept of modern investing are a perfect fit. Before investment apps, the process to perform investment actions were long and strenuous.

Now investors save a ton of time and are exposed to a variety of services that they may not have had a chance to come across if not for this shift in the industry. 

Speed is certainly one benefit of using the best investment apps. Another is the variety. As previously mentioned, there is something for everyone.

If you prefer automated trading, there are specific investment apps for that. Moreover, those who deal with cryptocurrency can find a range of useful apps. 

The fact that most of these apps are free of commission fees is yet another great reason to utilize this new technology.

Tips for New Investors

Here are some helpful tips for new investors:

Set Goals

Before you even begin investing, it is essential to set goals. This will reveal what you aim to achieve by investing your money. To set goals, take into account your age, current finances, and career path.

These aspects should provide clarity when it comes to setting financial goals. 

Join Active Communities

Do not be afraid of having a social presence. Many of these investment apps have fantastic social features. Countless individuals began their investing journey with little knowledge, just as you did. 

Chatting people up and developing a network of knowledge is a valuable tool. Being surrounded by like-minded people can prove to be an incredible resource. Finding useful investing info can be hard at times.

These experienced investors can point you in the right direction.

Diversify

A diversified portfolio is a reliable safety blanket. The market is prone to move in many directions. Ensuring that you have a diverse portfolio will mean that you are less impacted by drastic fluctuations.

FAQ’s

If you still have some questions in mind, here are some frequently asked questions regarding investment apps that may help:

Are Investing Apps Safe?

When dealing with finances, many users are concerned about security. Luckily investing apps are reliable and safe. In developed countries, investing apps do not pose even the slightest of safety risks. 

There are no surprises when it comes to investment apps. Thanks to technology, you can track your portfolio from the palm of your hand.

Can I Invest in Anything on an App?

The answer to this is generally no. It is sporadic to come across an app that will let you invest in anything. Most of the top investment apps do have some restrictions in place.

For example, some apps do not cover mutual funds and bonds. At the same time, others may not have access to trading cryptocurrency.

If you know exactly what you want to invest in, then there are ways to circumvent this issue by picking an app that suits your portfolio. Finding a one-stop-shop investment app is rare; however, the market is full of apps that specialize in specific investments.

What Makes an Investing App Different Than a Brokerage?

The control over your portfolio and a lack of fees separate investing apps from brokerages.

These are the main differences: With a brokerage, several fees are unavoidable. You must pay commissions to stockbrokers for investments. However, the main appeal of investing apps is the very few costs present.

This has lead to more and more individuals actively using investing apps.  

Are These Apps Really Free?

In truth, not all of these apps are free. Many of the most popular investment apps are free to use. These free services are, in fact, highly reliable and useful in some cases.

However, some apps claim to provide superior services. Most of the time, these apps will charge a monthly fee. 

You should know that more and more investing apps are implementing the free to use model for those who aren't interested in subscriptions.

Next Steps

Once you identify your investing needs, choosing the right app for you based on the above information isn’t all that difficult. It is incredible to think about the depth of services offered in the palm of your hand. 

Thanks to your smartphone, all of the tools that will benefit your investment journey are in arms reach.

Whether you’re looking to save with micro-investing, opt for a hands-off approach with automated investing apps, or develop a network of knowledge with social trading apps, check out some of the above platforms to start your journey in useful investment apps. 

Webull

An award-winning, commission-free online stock trading platform covering full extended hours trading, and real-time market quotes. They offer an investing app with something for everyone.

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