Best Sites For Investing: Where To Start?

Investing online can be a daunting task for beginners, with a multitude of websites and platforms to choose from. Online brokers are financial institutions that allow you to purchase securities, including stocks, through an online platform. These platforms often provide educational resources and features like stock screeners, making them more suitable for new investors.

When choosing an online broker, it is important to consider factors such as commissions and fees, the platform's technology and tools, the range of investment products offered, and the quality of customer service and support.

- Fidelity Investments: Offers a wide range of educational resources, low commissions and fees, and reliable customer service.

- Charles Schwab: Provides competitive fees, an extensive branch network, and high-quality research and educational materials.

- TD Ameritrade: Features an impressive range of educational resources, an easy-to-use platform, and excellent customer service.

- E*TRADE from Morgan Stanley: Delivers an intuitive platform, educational content, and weekly educational webcasts.

- Robinhood: Known for its user-friendly interface and mobile app, Robinhood offers commission-free trading and is a good option for beginner crypto investors.

- Webull: Stands out for its sleek and intuitive platform, making it a good choice for those who prefer mobile investing.

- J.P. Morgan Self-Directed Investing: Offers in-person customer support and an easy-to-use platform, but has a limited selection of assets, tools, and research.

Investment apps for beginners

Investing apps are a great way for beginners to get started with investing. Here is a list of some of the best investment apps for beginners:

SoFi Invest

SoFi Invest offers a self-directed investing account and a robo-advisor option called SoFi Automated Investing. It has low-cost investment options and allows users to track credit scores, find loan rates, and consult a certified financial planner. The app is part of the company's wider ecosystem, which includes student loans, personal loans, mortgages, credit cards, checking and savings accounts, and investment accounts. SoFi recently introduced a feature that allows IPO investing.

Investr

Investr is an app that helps new investors learn about stocks through its robust education features. Its Fantasy Finance section lets users manage a $1 million virtual portfolio without investing real money. Investr also allows users to trade U.S. stocks, exchange-traded funds, and fractional shares with as little as $5 and without commission fees.

Betterment

Betterment is a robo-advisor that automates your investment strategy based on your risk tolerance and goals. It is an excellent option for hands-off investors who prefer a set-it-and-forget-it approach. Betterment also offers the ability to connect with a financial advisor for personal assistance. However, there is a management fee of $4 per month or 0.25% of your investing account balance if you reach $20,000 or set up recurring monthly deposits of at least $250.

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. While new investors may not want to jump into all these features immediately, the site offers financial news and education. There is no minimum account value, and Robinhood offers free stocks and a match on individual retirement accounts for those who subscribe to its Robinhood Gold service.

Acorns

Acorns is a great app for those who want to save a little extra in their investment account. It allows users to round up their spare change from purchases and make extra deposits for investing. The minimum amount to begin investing is $5. Acorns offers a kid-friendly debit card and learning app, making it a good option for those looking to teach their children about investing.

Ellevest

Ellevest is a company that focuses on teaching women about the markets, although anyone is eligible to open an account. It emphasizes environmental, social, and governance practices, an area of interest to many female and younger investors. Ellevest offers ETFs and mutual funds, so it may not be the best choice for those who want to pick individual stocks or have more control over their portfolio holdings.

Charles Schwab

Charles Schwab is a well-known investment platform that offers a range of investment options, including stocks, options, ETFs, and more. They provide multiple mobile apps, including Schwab Mobile, which is geared towards beginners, and StreetSmart Mobile and thinkorswim, which offer more advanced features. Their apps have good ratings, and the company has a large selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs, and options.

Webull

Webull is a mobile-first investing platform with a sleek and intuitive interface. It offers advanced features like charts and indicators, price alerts, a paper trading account, and voice command functionality. Webull has high interest rates on uninvested cash and offers commission-free stock, options, and ETF trades. However, a separate app is required for crypto trading.

Interactive Brokers

Interactive Brokers is a well-known investment broker that offers a wide range of investment options, including stocks, options, ETFs, mutual funds, and more. Their IBKR mobile app is available to both Lite and Pro customers and includes advanced trading shortcuts, over 400 data columns, news, research, charting, and scanners.

Public

Public is an investment app that makes it easy to learn how to trade options through its Options Hub. It offers commission-free stock, options, and ETF trades, rebates for trading options, and an impressive selection of alternative assets. Public's app makes it simple to manage your portfolio and ask questions about any stock through its AI-powered feature, Alpha.

Fidelity

Fidelity is a well-known investment broker that offers a wide range of investment options and has an easy-to-use app. Their app includes real-time quotes, multi-leg options trading, a consolidated version of their research offerings, and a notebook to save ideas and articles. Fidelity combines the convenience of a mobile app with the investment selection of a large institution, making it a good choice for beginners and advanced investors alike.

Investment apps for active trading

When it comes to investment apps for active trading, there are several options available. Here are some of the top-rated apps to consider:

TD Ameritrade

TD Ameritrade's thinkorswim platform is designed for active traders, offering advanced charting, trade tools, profit and loss calculations, and a live CNBC news stream. The app also provides chat support, enabling users to connect with a trading specialist for assistance. TD Ameritrade offers various accounts and investments, including some less commonly supported options such as futures, forex, and cryptocurrencies.

Charles Schwab

Charles Schwab provides a robust mobile trading app that enables users to view their accounts, positions, and balances easily. It offers real-time news, stock reports, and a voice-activated assistance feature called Schwab Assistant. While the app caters to all types of investors, it may not be the best choice for the most active traders. However, Schwab now owns TD Ameritrade and thinkorswim, making it a versatile option.

Webull

Webull is a discount stock trading platform that offers commission-free options trading, expert market data, and crypto trading through its user-friendly mobile app. While it may not be the most robust trading platform, Webull prioritises the mobile experience for its customers. The app is easy to use, low-cost, and provides a decent interest rate on uninvested cash. It is a good choice for beginners interested in commission-free stocks, ETFs, and options.

SoFi Active Invest

SoFi Active Invest is a user-friendly platform that caters to both active traders and beginners. It offers taxable and retirement brokerage accounts, fractional shares, and options trading. The app provides educational articles accessible from stock account pages, making it a good option for those new to the markets. SoFi also provides complimentary access to Certified Financial Planners, making it a comprehensive choice for active traders.

Fidelity

Fidelity's app suits both beginners and advanced traders, offering real-time quotes, multi-leg options trading, and a consolidated version of the company's research offerings. It also allows users to connect with an advisor directly through the app. Fidelity provides a wide range of investment options and is known for its strong customer service.

Investment apps for education

Investment apps are a great way to get started with investing, especially for beginners who may not have a lot of cash to invest. Here are some of the best investment apps for education:

Acorns

Acorns is a beginner-friendly investment app that charges a flat monthly fee of $1 to $5, depending on the features you choose. It offers a simple and intuitive phone app that rounds up your everyday purchases to the nearest dollar and invests the difference automatically. Acorns has a "Found Money" feature, which works like cashback on a credit card, allowing you to invest that money. Acorns also provide money advice and the ability to set up recurring retirement contributions.

Stash

Stash is another investment app with no minimum balance requirement, and its monthly fees range from $1 to $9 depending on the account type. The app offers a beginner account that allows you to invest in fractional shares of stocks, bonds, or ETFs. Stash also provides educational content, personalised guidance, and a podcast to help you boost your trading knowledge.

Betterment

Betterment is a robo-advisor app that helps you plan savings and investments for specific life goals, such as funding a child's education or retirement. The basic plan has an annual advisory fee of 0.25%, and there is no minimum balance requirement. Betterment offers a range of investment portfolios, including socially responsible portfolios and cryptocurrency portfolios.

Ellevest

Ellevest is an investment app designed specifically for women, considering factors such as the gender pay gap and women's longer life expectancy. The basic plan costs $1 per month, with additional features at higher tiers, including support for 401(k) rollovers and transfers. There is no minimum balance requirement for the basic plan, making it accessible for beginners.

M1 Finance

M1 Finance offers a flexible and customisable investment platform that allows you to build your own portfolio or choose from pre-mixed options for free. It supports fractional share investing and automates your contributions. While it appeals to experienced investors, it is also suitable for beginners who want more control without a lot of hand-holding. However, M1 Finance has a minimum account balance of $100, or $500 for retirement accounts.

Investment apps for portfolio management

Investment apps are a great way to manage your portfolio and stay on top of your investments. Here are some of the best investment apps for portfolio management:

Empower (Formerly Personal Capital)

Empower is a free investment management app that offers a range of sophisticated management tools and reports. It is tailored to sophisticated, cost-conscious, DIY investors. Empower offers three tiers of service, each catering to investors with different levels of investment assets, starting at $100,000, $250,000, and $1 million. The app provides a holistic view of your financial situation, including your total net worth, investment portfolio, and even an estimate of your home's value. It also has a retirement planner that lets you test different saving and spending scenarios. However, you may receive a phone call pitch from an Empower representative to sign up for their robo-advisor service.

Simplifi by Quicken

Simplifi is a budgeting and personal finance app that is easy to use, especially for beginner investors. It offers basic portfolio management features, allowing you to link your investment accounts and get a unified view of your total investment portfolio balance. You can filter and customize the dashboard to view your portfolio by individual accounts, asset classes, or specific securities. While Simplifi requires a paid subscription, it offers a one-month free trial, and customer service is available by phone and chat.

Quicken Classic Premier

Quicken is a well-known and comprehensive budgeting and financial planning platform that has been around for decades. It offers in-depth management tools and customizable features, making it a great choice for experienced investors looking for a complete portfolio management solution. Quicken offers four service tiers, with the Classic Premier tier being the best for investment portfolio tracking. You can link all your financial and investment accounts and get a unified view of your portfolio, set asset allocation goals, and track your portfolio's performance against benchmarks. Quicken also integrates directly with Morningstar's Instant X-Ray tool for in-depth analysis. However, some service tiers can be pricey, and certain features may be complicated for beginner investors.

Ziggma

Ziggma is a platform designed for active investors, helping them monitor and optimize their portfolios. It offers a unique dashboard, alerts, and a portfolio simulator to enable sound investment decision-making. The free version allows you to test the software with a single portfolio, while the premium version supports multiple portfolios and costs $9.90 per month or $89.88 per year. Ziggma provides stock analysis, risk metrics, and fundamental stock metrics. You can set up alerts for when your stocks hit a certain price or when your portfolio is poorly positioned based on risk, diversification, or fundamentals. The portfolio simulator lets you create virtual portfolios and backtest strategies.

Wealthfront

Wealthfront is one of the largest independent robo-advisors, managing your money for a small fee. It offers hundreds of ETFs to construct your portfolio, taking into account your risk tolerance and investment goals. Wealthfront's management fee is 0.25% annually, and it includes tax-loss harvesting to offset the fee. Additionally, Wealthfront provides an attractive cash management account with early access to direct-deposited paychecks and a debit card, all without a monthly fee.

Investment apps for automated investing

Investment apps are a great way to manage your money and grow your wealth. Here are some of the best investment apps for automated investing:

Betterment

Betterment is one of the largest and most popular robo-advisors. The app provides professionally-managed portfolios using a selection of ETFs calibrated to your risk tolerance and investment goals. Betterment can also create socially responsible portfolios focusing on climate change or social impact. The app has a minimum balance requirement of $0 for digital service and $100,000 for premium service. It charges a management fee of 0.25% to 0.65% of assets annually.

Wealthfront

Wealthfront is one of the largest independent robo-advisors. For a small fee, it can manage your money, whether in a taxable account or an IRA. Wealthfront offers hundreds of ETFs to construct your portfolio and takes into account your risk tolerance and investment goals. It has a minimum balance requirement of $500 and charges a management fee of 0.25% of assets annually.

Acorns

Acorns is one of the original automated investing apps. It allows you to round up your spare change and invest it in low-cost index funds for long-term growth. Acorns has a monthly fee of $3 to $12, depending on the plan selected.

M1 Finance

M1 Finance is a top-notch investment app that allows users to opt into "Auto-Invest". With this feature, M1 Finance's algorithms will rebalance your portfolio anytime you have at least $25 in cash in your account. The app has a monthly fee of $3 until you have $10,000 in assets.

Charles Schwab Intelligent Portfolios

Charles Schwab offers a free robo-advisory service for people with at least $5,000 in their accounts. The app makes it easy to set up recurring transfers to your investment account. It offers several pre-designed portfolios that invest in broadly diversified, low-cost ETFs.

Fidelity Go

Fidelity Go, Fidelity's robo-advisor, frequently makes the list of best robo-advisors for its low fees, integration with other Fidelity accounts, and use of Fidelity Flex funds, which have no expense ratios. There is no account minimum, and management is free for balances below $25,000.

These investment apps offer a range of features, including automated portfolio management, dividend reinvestment plans, easy auto-transfers, and low costs. They can be a great way to get started with investing and build your wealth over time.

Frequently asked questions