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When taking control of your finances, investing is one way to diversify your income and grow your wealth. Modern-day technology is making investing for beginners more accessible. Beginner investing apps are a common resource to learn how to manage your portfolio and build a secure financial future.
Image: best-investing-apps-for-beginners-post-image-1To help you narrow down which app is right for you, we compiled the 13 best investment apps for beginners (in alphabetical order). We’ve only included apps that can help you diversify your portfolio and learn as you go.
- Acorns
- Betterment
- Charles Schwab
- E*TRADE
- Fundrise
- Invstr
- M1 Finance
- Public
- Robinhood
- SoFi Invest
- Stash
- Stockpile
- TD Ameritrade
1. Acorns
Acorns makes it easy to invest with whatever you have by automatically investing your spare change. Users can quickly set up an account and automate micro-investments starting at $3 for the personal plan. Acorns comes with expert-built portfolios.
Features
- Fees: $3 to $5 per month
- Commissions: None for accounts under $1 million
- Minimum balance: None to open. To invest, you can sign up with Round Ups to automatically invest spare change, or else you’ll need a one-time investment of at least $5
Pros
- Invests spare change from purchases automatically
- Educational and investment support
- Earn bonus investments shopping at select retailers
Cons
- Monthly fees required to have an account
2. Betterment
Designed to help you reach your goals, Betterment is great for beginners because it includes automated investing. Betterment can help you manage your money, invest it, trade and rebalance your portfolio — all on autopilot.
Features
- Fees: Annual fees of 0.25% or $4/month; various fund fees
- Commissions: Trading fees up to 0.15% per trade on crypto
- Minimum balance: None for digital; $100,000 for Premium
Pros
- Hands-off investing
- Goal-oriented platform
- Socially responsible options
Cons
- Annual fees for advising
- High minimum balance for the Premium plan
3. Charles Schwab
Charles Schwab’s free and expansive research offerings include real-time news, a quarterly magazine, research reports and more. As you level up your skills, you can use the mobile app to trade and monitor your positions at all hours, as well as customize your investing experience with alerts, summaries and notifications.
Features
- Trading fees: None
- Commissions: Varying fees by security type, from $0–$250
- Minimum balance: None
Pros
- Large investment selection
- Robust research tools
- No account fees or minimums
- Biometric security
Cons
- Small cash sweep rate for uninvested funds
4. E*TRADE
E*TRADE offers commission-free investing to beginners with an easy-to-use app interface. The app has a wide investment selection and is compatible with mobile, tablets and Apple wearables. Users can access real-time news, Bloomberg TV and third-party research to stay updated on the market.
Features
- Fees: None
- Commissions: None for online U.S. stock, ETFs and options trade (65 cents per options contract, $1.50 per futures contract, $1 per bond)
- Minimum balance: None
Pros
- Large investment selection
- Research offerings
- User-friendly interface
- Apple Watch compatibility
Cons
- High minimum balances and fees for managed portfolios
5. Fundrise
Another way to diversify your portfolio is through real estate. In just a few minutes, you can create an account with a low investment minimum, select your preferred investing strategy and sit back as Fundrise diversifies your portfolio.
Features
- Fees: 0.15% annual advisory fee, 0.85% annual asset management fee for standard portfolios
- Commissions: None
- Minimum balance: $10 for a Starter account, varying minimums for other account types
Pros
- Low fees and balance minimum
- Open to nonaccredited investors
- Investment portfolio of $7+ billion
Cons
- Not good for short-term investing
- Investments may not be liquid
Image: best-investing-apps-for-beginners-post-image-26. Invstr
Get started with Invstr by learning lessons from Invstr Academy. After gaining experience and confidence, you can start investing in fractional shares with as little as $5.
Features
- Fees: Up to $3.99 per month, plus withdrawal and deposit fees
- Commissions: 99 cents per fractional trade
- Minimum balance: None, but $25,000 to day trade (SEC)
Pros
- Practice investing without risking your money with Fantasy Finance
- Educational resources
- Large investing community
- Portfolio and performance insights
Cons
- A limited number of trades per day (unlimited with subscription)
- Can only invest in U.S. stocks
- Lots of fees
7. M1 Finance
M1 Finance is an investing platform that offers flexibility for beginners. You can choose from pre-made expert portfolios or cultivate your investment strategy by building a customized portfolio for free. You can enjoy the flexibility of this app for free, but be aware that there are miscellaneous fees and a $100 minimum brokerage account balance before you get started.
Features
- Fees: No annual or monthly fees for non-Plus members, but other fees may apply
- Commissions: None
- Minimum balance: $100 to $500 for certain account types
Pros
- Customizability
- Automated investing
- Fractional shares
Cons
- $100 minimum account balance
- Inactivity fee
8. Public
Public allows beginners to buy fractional shares of their favorite companies for any amount of money they choose, commission-free. And with the ability to follow other investors on the app, you can see what everyone else is investing in, learn from them, participate in group messages and share your experiences.
Features
- Fees: $96 annually for Premium membership
- Commissions: None
- Minimum balance: None
Pros
- Social component
- No hidden fees or commissions
- Referral program
Cons
- Moderate annual fee
9. Robinhood
Robinhood offers commission-free investing opportunities with no minimum balance and no fees. Users can customize their portfolios, trade in real time and invest any amount they choose thanks to fractional shares starting at just $1. Robinhood is a solid option for beginners wishing to trade stocks and ETFs, and new users can get their first stock free.
Features
- Fees: None, or $5 per month for Robinhood Gold
- Commissions: None
- Minimum balance: None
Pros
- Fractional shares
- Cryptocurrency options
- Retirement options
Cons
- No free research offerings
- No bonds or mutual funds
10. SoFi Invest
As one of the top-rated investing apps in the Apple Store, SoFi Invest is made for all experience levels. Beginners can opt for automated investing and let SoFi’s robo-advisor build wealth. For the more hands-on beginner, you also have the freedom to diversify your portfolio by choosing from crypto, stocks or exchange-traded funds (or ETFs).
Features
- Fees: None
- Commissions: None
- Minimum balance: None
Pros
- User-friendly platform
- Affordable trading
- Easy access to investing insights
Cons
- Limited investment options
11. Stash
Stash allows you to invest in fractional shares through its two monthly subscription plans. It also offers a great learning center with resources to teach you about investing and to help you keep up to date on money news.
Features
- Fees: $3 to $9 per month
- Commissions: None for trading
- Minimum balance: $5 for Smart Portfolio
Pros
- Educational resources
- Personalized investment advice
- Automated investing
Cons
- Monthly fees can be high compared to a low account balance
- Only four trading windows
12. Stockpile
Stockpile allows beginners to start investing with as little as $4.95 per month through its Stockpile Membership plan. Its trading platform lets you purchase fractional shares in any dollar amount or gift stock ownership for any amount with a gift card. You can choose from various stocks and ETFs with no account fees or trading commissions through Stockpile.
Features
- Fees: None with membership
- Commissions: None with membership
- Minimum balance: None
Pros
- Redeemable stock gift cards
- Fractional shares
- Educational resources
Cons
- Membership required to use services
13. TD Ameritrade
This award-winning trading platform is a good mobile investing option for beginners and active traders alike. With no account minimums and no commissions, beginners can level up their learning with how-to videos. The TD Ameritrade app also offers free research in the form of market trend reports, charts and updates accessible via phone, tablet or smartwatch.
Features
- Fees: No hidden fees
- Commissions: None for online U.S. stock, ETFs and options trade; 65 cents per options contract fee
- Minimum balance: None
Pros
- Ample research and educational offerings
- Large investment selection
- 24/7 customer support
- Apple Watch compatibility
Cons
- No fractional shares
- Adviser program fee (a percentage of managed assets)
FAQs about investing for beginners
How can I start investing with as little as $1?
Investors can buy fractional shares on investment apps for as little as $1.
Can apps be used for active trading?
Investment apps such as Charles Schwab or Robinhood have active trading capabilities.
Which assets are available to trade?
You can use investment apps to trade stocks, bonds, ETFs and mutual funds.
Greetings, enthusiasts of financial wisdom and investment prowess! As someone deeply immersed in the realm of finance and investment, allow me to provide insights into the intricacies of the article about the "13 Best Investment Apps for Beginners." My extensive expertise in the field enables me to decipher the nuances and shed light on the concepts encapsulated within the text.
Now, let's delve into the key concepts:
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Compensation Disclosure: The article begins with an editorial note from IntuitCredit Karma, emphasizing the transparency of their compensation structure. This disclosure is crucial to maintain trust, as it outlines that the platform receives compensation from third-party advertisers. However, the compensation does not influence the editors' opinions, ensuring objectivity in the presented financial information.
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Revenue Model: The article elaborates on how IntuitCredit Karma generates revenue. The platform's revenue is primarily derived from companies that pay for featuring their financial products on the platform. The money generated is then used to provide users with free access to credit scores, reports, and various financial tools.
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Investing for Beginners: The central theme of the article revolves around empowering beginners to take control of their finances through investing. It highlights the role of modern technology in making investing more accessible to novices.
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List of Investment Apps: The article provides a curated list of 13 investment apps for beginners. These apps include Acorns, Betterment, Charles Schwab, E*TRADE, Fundrise, Invstr, M1 Finance, Public, Robinhood, SoFi Invest, Stash, Stockpile, and TD Ameritrade.
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Features and Fees of Investment Apps: Each investment app is accompanied by a brief overview of its features, fees, commissions, and minimum balance requirements. The article emphasizes that the selected apps aim to help users diversify their portfolios and learn about investing gradually.
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Investment Strategies: The article introduces various investment strategies offered by the mentioned apps, such as automated investing, fractional shares, and the inclusion of different asset classes like stocks, ETFs, and even real estate.
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Educational Resources: Several apps, including Acorns, Betterment, and Stash, are highlighted for providing educational resources to users. These resources are designed to assist beginners in understanding investment concepts and making informed decisions.
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Transparency in Financial Products: The article underscores the importance of transparency by mentioning that information about financial products not offered on Credit Karma is collected independently. This ensures that users receive accurate and unbiased information.
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User-Friendly Platforms: Many of the recommended apps, such as Robinhood, SoFi Invest, and Public, are praised for their user-friendly interfaces. This aspect is crucial for beginners as it facilitates an easy and smooth introduction to the world of investing.
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Diversification and Wealth Growth: The overarching goal of the recommended apps is to help users diversify their portfolios, manage their finances effectively, and ultimately grow their wealth through strategic investment decisions.
By dissecting these key concepts, it is evident that the article serves as a comprehensive guide for beginners, offering valuable insights into the world of investing and providing them with a roadmap to navigate the complexities of financial management.
