Best Apps For Investing: Your Guide To Choosing Wisely

Investment apps are a great way to manage your finances and get your money working for you. With so many options available, it can be tricky to know which app to choose.

Firstly, it's important to consider what type of investor you are. Are you a beginner or an experienced investor? Do you want to take an active role in picking and choosing your investments, or would you prefer a more hands-off approach, such as a robo-advisor that will manage your portfolio for you?

Secondly, think about what features are most important to you. Are you looking for an app with low or no fees? Do you want access to a wide range of investment options, or are you happy with a more limited selection? Do you want an app that offers educational resources and tools to help you learn more about investing?

Once you've considered your needs and preferences, you can start researching specific apps that fit the bill. Some popular options include Fidelity, which is great for beginners and advanced traders alike; SoFi Invest, which offers an easy-to-use platform with low pricing; and Public, which combines social networking features with traditional brokerage capabilities.

Other well-known investment apps include Robinhood, Charles Schwab, Webull, Betterment, Acorns, and Vanguard.

Remember to do your research and compare different apps before making your decision. Look at reviews, consider the features and fees, and think about what type of investor you are to find the best app for your needs.

Investment apps for beginners

Investing apps are designed to help new investors gain valuable experience and make the process of educating themselves more accessible. Here are some of the best investment apps for beginners:

SoFi Active Invest

SoFi Invest is a great platform for US investors looking for an intuitive online trading experience. It offers a self-directed investing account and a robo-advisor option called SoFi Automated Investing. It also offers low-cost investment options and the ability to track credit scores and find loan rates. The app has a rating of 4.8 on iOS and 3.8 on Android.

Robinhood

Robinhood is one of the most well-known stock-trading apps, offering a wide range of services, including stock and options trading, as well as cryptocurrencies. It has no minimum account value and offers free stocks to users. It also has charting features for those who want to learn about technical analysis.

Fidelity

Fidelity's app is great for beginners and advanced traders, offering real-time quotes, multi-leg options trading, and a consolidated version of the company's research offerings. It also includes a notebook to save ideas and articles from your mobile browser. The app has a rating of 4.8 on iOS and 4.5 on Google Play.

Acorns

Acorns is a robo-advisor that stands out for its clean and uncomplicated user interface. It offers a feature called Round-Ups, which allows users to invest their spare change from purchases. It also provides educational content and has a kid-friendly debit card and learning app. The app has a rating of 4.7 on iOS and Google Play.

Public

Public is a social investment app that combines features from social networks like Facebook and Twitter with traditional brokerage features. It offers commission-free trading on stocks and ETFs, cryptocurrency trading, and fractional share investing. It also has community and social trading features, such as group chats and live investing events. The app has a rating of 4.7 on iOS and 4.3 on Android.

Betterment

Betterment is a robo-advisor that offers low-cost trading, account flexibility, access to CFPs, and goal-based investing. It provides a diversified portfolio of stock and bond ETFs based on your goals, time horizon, and risk tolerance. It also offers cryptocurrency portfolios, socially responsible portfolios, and tax-loss harvesting.

Ellevest

Ellevest is a company that focuses on teaching women about the markets, although anyone is eligible to open an account. It offers ETFs and mutual funds, and emphasizes environmental, social, and governance practices, an area of interest to many female and younger investors. There is no minimum balance required for beginning investors.

Investment apps for experienced investors

When choosing an investment app, it's important to consider your level of experience. While some apps are designed with beginners in mind, others cater to more experienced investors. Here are some options for investment apps that are suitable for experienced investors:

TD Ameritrade's thinkorswim app

This app is highly regarded by advanced and DIY traders, offering an easy-to-use interface, real-time market data, charts, and quick trade execution. thinkorswim also provides access to more sophisticated investments like forex and the ability to buy and sell securities on the over-the-counter market.

Interactive Brokers' IBKR Lite app

The IBKR mobile app is available to both Lite and Pro customers, offering advanced trading shortcuts, over 400 data columns, option exercise and spread templates, news, research, charting, and scanners. Users can create order presets for fast entry, and the app receives high ratings from users.

Public app

Public's app makes it easy to learn about trading options through its Options Hub. It also offers a wide range of alternative assets, a high interest rate on uninvested cash, and easy portfolio management. Public scores well on both the Apple App Store and Google Play.

Fidelity app

The Fidelity app is suitable for both beginners and advanced traders, offering real-time quotes, multi-leg options trading, consolidated research offerings, and a notebook feature to save ideas and articles. Fidelity has high ratings on both Apple and Google Play stores.

Webull app

Webull offers an easy-to-use platform with advanced features, including charts, indicators, price alerts, a paper trading account, and voice command functionality. Webull has high ratings on the Apple App Store and Google Play.

J.P. Morgan Self-Directed Investing app

While this app may be more suitable for beginners, more advanced investors can also benefit from its offerings, including trading stocks, bonds, mutual funds, and ETFs. It also provides charting tools, screeners, research, stock watch lists, and connects all Chase accounts.

Investment apps for average investors

Investment apps are a great way to manage your money and grow your wealth. They are especially useful for beginners as they are simple and affordable. When choosing an investment app, it's important to consider your investment goals, risk tolerance, and the amount of time you plan to spend investing. Here are some of the best investment apps for average investors:

• Fidelity: The Fidelity app combines low costs, clean graphics, and an easy buying and selling process for stocks. It offers a wide range of account types and investments, strong educational materials, and the ability to coordinate with Fidelity Go, their robo-advisor service. However, it does not offer cryptocurrency trading.
• ETRADE from Morgan Stanley: This app offers no trading minimums or commissions for online U.S.-listed stock, ETF, mutual fund, and options trades. It provides a wealth of investing information and access to various account types, including IRAs and custodial accounts. While it doesn't support 529 plan accounts and most fractional share trading, it does allow trading of crypto-related securities.
• Betterment: Betterment is a dedicated robo-advisor service that can manage a diversified portfolio of ETFs. It offers no account minimum, a relatively low annual advisory fee, the ability to construct multiple goal-based portfolios, and tax-loss harvesting. However, its emergency fund portfolio may be too heavily invested in equities for conservative investors.
• Acorns: Acorns is a popular savings app that rounds up purchases to the next dollar and invests the difference into ETF portfolios. It offers three service tiers, starting at $3 per month, with features such as an FDIC-protected checking account, an IRA, and the ability to buy individual stocks.
• Wealthfront: Wealthfront is a robo-advisor that manages your money in a taxable account or an IRA for a small fee. It offers hundreds of ETFs, takes into account your risk tolerance and investment goals, and includes tax-loss harvesting. It also provides an attractive cash management account.
• Robinhood: Robinhood offers a smooth interface and commission-free trading for stocks, ETFs, options, and cryptocurrency. It has a stripped-down, intuitive design and provides a feed of news and investing sites.

Investment apps for saving

Investment apps are a great way to keep track of your portfolio's performance and make quick trades while on the move. However, it's important to remember that investing involves risk, so it's crucial not to invest more money than you can afford to lose.

Plum

Plum is a popular savings app due to its ease of use. After setting it up, you won't have to worry about it much. Link a debit or credit card to your account, and Plum will round up your purchases to the nearest dollar, investing the difference into one of a few ETF portfolios.

Plum offers three service tiers:

• Bronze: For £3 per month, you get an investment account, an individual retirement account (IRA), a metal debit card, and more. You can choose from three IRA versions: traditional, Roth, or SEP, and can roll over an existing 401(k) or IRA. This tier also offers an FDIC-protected checking account with no additional fees and fee-free access to thousands of ATMs.
• Silver: For £6 per month, you get the features of the first tier, plus an interest-bearing bank account and a 1% match on IRA contributions.
• Gold: For £12 per month, you get the benefits of the lower tiers, plus the ability to buy individual stocks and an investment account for kids.

Acorns

Acorns is another app that rounds up your purchases to the nearest dollar and invests the difference. For $3 per month, you get a fully automated investment plan, retirement account savings, banking perks, and a diversified portfolio of low-cost ETFs based on your risk tolerance, goals, and time horizon. You can choose to invest in Acorn's Core portfolios or ESG portfolios.

Pensionbee

Pensionbee is an investment app focused on pension saving. You can kick off pension transfers, select investments, and keep track of performance all within the app. Pensionbee offers ready-made portfolios, including ethical and sharia funds, and competitive pricing. Once you hit retirement, there's no need to switch your money elsewhere as Pensionbee also offers a drawdown service.

Nutmeg

Nutmeg was one of the first providers to launch a robo-advice platform, taking the hassle out of investing by helping you determine your risk appetite and financial goals. Nutmeg's robo-advice will use this information to set you up with a ready-made diversified portfolio, which you can easily manage via the app. The app is highly rated for its simplicity and ease of use.

AJ Bell

With AJ Bell, you get access to thousands of different stocks, ETFs, and funds, making it a great choice for those who want to diversify their portfolio. The app scores well, especially on the Apple store, where it has a 4.7 rating. Within the app, you can track your investment's performance, search for stocks, and add money to your portfolio.

Investment apps for active trading

Investment apps are a great way to keep track of your portfolio's performance and make trades on the go. Here is a list of some of the best investment apps for active trading:

TD Ameritrade

TD Ameritrade's thinkorswim is a top stock trading app for active traders. It offers accounts with no recurring fees and no minimum balance. It provides a wide range of investment options, including some less common ones such as futures, forex, and cryptocurrencies. The thinkorswim app gives you an almost identical experience whether you log in on desktop or mobile, with advanced charting, trade tools, profit and loss calculations, a live CNBC news stream, and chat support.

Webull

Webull is a discount stock trading platform that offers free options trading, expert market data, and crypto trading through its user-friendly mobile app. It is best for beginners interested in hand-picking commission-free stocks, ETFs, and options. The app is easy to use, low-cost, and offers a decent interest rate on uninvested cash.

Public

Public is a good choice for active traders who want to invest in stocks, ETFs, and cryptocurrencies while utilizing the expertise and insights of other Public.com members. The app offers a $0 minimum requirement and allows you to filter its investment selection to align with your preferences. It also provides community and social trading features, such as the ability to follow the posts of other experts in the Public feed, create group chats with other users, and participate in live investing events and conversations.

SoFi Active Invest

SoFi Active Invest is a great platform for US investors looking for an intuitive online trading experience and an open active or automated investing account. The app has a $0 account and trading fee, and low fees to own funds. It also provides access to Certified Financial Planners at no additional charge. However, it does not offer tax-loss harvesting or stop-loss orders for active investing.

Ally Invest

Ally Invest is a good option if you want a straightforward investment platform that integrates well with checking and savings accounts. It has no minimum or recurring fees and shares the same login for accounts with Ally Bank. The app includes basic research and charting, recent news, and the ability to quickly enter trades. It also offers a Robo Portfolio with a $100 minimum and no advisory fees, which primarily uses ETFs and sets aside 30% of your portfolio as cash to protect against market volatility.

E*TRADE

E*TRADE is a comprehensive trading app that offers commission-free trades for US-listed stocks, ETFs, mutual funds, and options. It provides a wide selection of investment options and is a good fit for frequent traders interested in low-cost stock, ETF, and options trading. The app also supports less active investors through its managed and automated portfolio offerings.

Frequently asked questions