The best investment apps make life so simple for new investors as well as experienced traders. Even students can benefit from the best investment apps for beginners and grow their savings. The best investing apps will give you insights and tips on high performing stocks to trade. This way, you can conveniently invest in the stocks that will bring profits to you.
You will get many practically useful services with the best stock trading app. These services and features will be much cost-effective when compared to the traditional brokerage. Besides, such apps are much easier to use than calling a stockbroker to make a trade. That is why even pro investors look for the best trading app to improve their portfolios and save some money. There are even free investment apps that allow you to have a taste of how stock trading goes.
Here are the best investment apps for beginners and pros. These investing apps are reliable and surely worth the minute monthly fee, if any. You can easily install the trading app on your smartphone and start trading instantly.
Robinhood
Best Free Investment App
The user interface of the app is also very simple and easy to navigate. You can easily move from one screen to the other in the trading app as needed. There is a search bar at the top as well. This allows you to access any of the desired stock pages instantly. This way, you can easily look up the charts and other vital statistics of the stocks or ETFs to trade.
You also get a news feed in the Robinhood app. This gives you insights from different investing sites. In turn, that makes it very simple to keep an eye on the stock market’s changing trends. The funds are also delivered very quickly to your account in the app as you make a deposit. This ensures that you can start trading instantly.
The main drawback of Robinhood is that there are no managed portfolios or retirement accounts. It means that all the investments you make via the app will be taxable and self-managed. However, this also means that you can trade independently as you like.
Pros:
- No hidden costs
- No account minimum
- Simple to use interface
- Cryptocurrency trading
- Good for starters
Cons:
- Not that suited for market research
- No mutual funds or bonds
- Limited customer support
Download Robinhood app: Google Play | App Store | Check Robinhood Website
Also read: Best Stock Simulator Apps for iPhone to Practise Trading
Acorns
Best Investing App for Automated Trading
You just have to link your credit/debit card with the Acorns app. This will help you to use the change to build your portfolio gradually. Aside from the “spare change” feature, there are many more simple pre-made investment options in Acorns too. You can even set up one-time deposits or recurring deposits for your trading account as preferred. That makes it one of the best investing apps out there.
Acorns is especially useful for those who do not spend much time researching and comparing stocks. You can choose from many types of portfolios depending upon your needs in the app. This includes conservative investment account options to an aggressive pro trading account. You can also open an individual retirement account in Acorns.
The monthly charges for using Acorns can range from $1 to $2. This will depend upon the type of portfolio. If you are a college student, you can open an account with .edu email address too. This will give you four years of standard Acorns Core account for free.
Pros:
- Best trading app for students
- Turns small savings into a big investment
- User-friendly app interface
- Modest monthly fee
- Multiple portfolio types
Cons:
- Not ideal for managing small account balances
- No tax-deferred account option
- Limited investment options
Download Acorns app: Google Play | App Store | Check Acorns Website
Stash
Best Trading App for Education
You can also participate in customized challenges in the Stash app and acquire more investing knowledge. The best stock trading app will ask you a few questions as you launch it for the first time. This will help to establish your risk capabilities and set up your financial goals. Stash will then use the data to suggest ETFs and stocks that will best suit your profile.
As the content is tailored to your specific requirements, you can easily build your trading portfolio. It is very simple to track your progress too, but make sure to keep your portfolio diversified. This way, the suggestions from Stash will not nudge you in a different direction.
You can invest as low as $5 to start trading in Stash. It will let you to buy fractional shares of the individual stocks or ETFs available in the app. You can also open a taxable account in Stash for a monthly fee of $1. It also allows you to open a traditional or Roth IRA retirement account for $3 per month. There is an option to start a retirement account and two accounts for kids too. The monthly fee for that will be $9.
Pros:
- One of the best investment apps for beginners
- A flat monthly fee for trading accounts
- Upgraded debit card
- Good educational assistance and support
- Fractional shares
Cons:
- Limited stocks and ETF options
- No investment management
- High expense ratios
Download Stash app: Google Play | App Store | Check Stash Website
E*Trade
Best Investment App for Pros
The stock trading app even allows you to trade stocks, ETFs, and mutual funds for free online. Besides, you also get great tools for research and education in E*Trade. If offers you market analysis from MarketWatch, CNBC, and Morningstar. This can come quite handy for staying updated with the latest news and trends of the stock market. There is even an option to get personalized stock alerts or set up investment watchlists.
E*Trade can be one of the best investment apps for beginners too. That is because it comes with robo-advisor portfolios as well. However, you will need to keep a minimum balance of $500 in your trading account. Besides, there is also a 0.30% trading fee. Overall, the fee structure and charges of E*Trade are worth it considering the amount of flexibility you get.
Active investors can find interactive charts and expert studies in the app very helpful. It is very easy to dig deep into earnings, dividends, and other metrics using the best trading app. E*Trade also allows building a risk-aligned portfolio, which can be great for starters.
Pros:
- Professional-grade investment options
- Easy-to-use tools
- Extensive research and market analysis
- Free stocks, options, and ETFs trading
- Excellent customer support
Cons:
- Steeper commissions
- Best suited for experienced investors
- The website can be difficult to navigate
Download E*Trade app: Google Play | App Store | Check E*Trade Website
Also read: Best Android Stock Market Apps for Status & Portfolio Management
Betterment
Best Trading App for Tax Saving
There is no arguing the fact that Betterment is one of the best investing apps for after-tax returns. Its robo-advisor feature creates custom portfolios based on your specific requirements. Yet again, consulting a financial advisor will always be better to tax-optimize your portfolio. You can start with a small investment as you like with Betterment. There is no account minimum, but the app will charge a 0.25% account management fee.
You can choose from a digital portfolio or a premium portfolio in Betterment. The premium portfolio will give you access to guidance from experts on outside investment accounts. You can also consult with certified financial planners round-the-clock via your premium portfolio. However, it has an account minimum of $100,000. Besides, the fee for account management is also higher (0.40%) than a standard portfolio.
Betterment allows you to invest in the stocks of socially responsible companies via its smart portfolio. You also get suggestions on a selection of ETFs tailored as per your risk tolerance. The app also allows you to set goals for each of your investments, such as a safety net or retirement.
Pros:
- Best stock trading app for tax optimization
- Professionally managed portfolios
- Access to certified financial planners
- No account minimum on standard profile
- Great goal-based tools
Cons:
- No direct indexing
- High account minimum for premium portfolio
- Limited investment options
Download Betterment app: Google Play | App Store | Check Betterment Website
Stockpile
Best Investment App for Stock Gifting
You do not need to open an account to send a gift card that can be redeemed for stock. This makes using Stockpile further simpler. At the same time, you can easily track your investments in the market. There is even an option to set a list of favorable stocks to trade using the gift cards. This allows parents to have better control over how the investments are made by their kids.
The charges for a standard trade via Stockpile are $0.99. If you are sending a gift card, the app will charge $2.99 for the first stock, and then the fee structure will be moved to the usual cost. Note that if you buy the stock gift card using a credit/debit card, then there will be an additional 3% fee for that.
There is no option to check portfolio performance projections or see company balance sheets in Stockpile. This means that the trading app may not suit pro investors. In fact, Stockpile is more focused on training the next generation about stock investment. That makes it one of the best investment apps for beginners.
Pros:
- Ideal for gifting stocks to the younger generation
- Simple and easy to use interface
- Fractional shares
- No monthly fee
- No minimum account balance
Cons:
- Limited account selection
- Very few investment options
- No real-time trading
Download Stockpile app: Google Play | App Store | Check Stockpile Website
TD Ameritrade
Best Research-Oriented Trading App
You get access to a plethora of research and data on stocks, companies, and markets via TD Ameritrade app. Besides, it also has many educational videos that describe different investing strategies. You can also track your investments and keep an eye on your portfolio using the app. TD Ameritrade mobile app even allows you to set up personalized alerts. This ensures that you are up to date with all the breaking news and stock market trends.
There is no minimum investment to get started with TD Ameritrade and trade stocks or ETFs. However, you can expect a $6.95 fee per trade when using the app. Moreover, trading options will cost $0.75-per-contract upcharge. Yet again, the asset options and customer support you get with TD Ameritrade app are very impressive.
TD Ameritrade can be one of the best investment apps for beginners. This is especially true for those who want to stay updated with market trends. You can choose between stocks, ETFs, mutual funds, bonds, futures, ADRs, foreign currencies, and more. This gives you more alternatives to make a smart investment.
Pros:
- High-quality trading platform
- Great research and data tools
- Diverse investment options
- Phone, text, and instant messaging support
- No commissions on online stocks, ETFs, and options trading
Cons:
- Steep brokerage fees
- Limited money transfer options
- Allows trading only in the US markets
Download TD Ameritrade app: Google Play | App Store | Check TD Ameritrade Website
Wealthfront
Best Low-Maintenance Investing App
You will need a minimum investment of $500 to open a Wealthfront account. This can be a bit higher when compared to other best investment apps. This makes it more suited for active traders who look for a robo-advisor. That is because the automated tool makes fund selection and making trades very easy for them. Besides, Wealthfront also supports daily tax-loss harvesting to counteract taxes on capital gains.
The account management fee for maintaining a portfolio on the Wealthfront app is 0.25%. You can also refer your friends to use the trading app. When your referral funds an account, both of you will have the account management fee waived for the first $5,000. This comes as an added benefit besides the option to realize losses automatically.
Note that Wealthfront will not allow you to trade in fractional shares. Yet again, it has many helpful planning tools and diversified portfolios. That makes it a worthy option for automated investment management. What’s more, the advanced tax optimization strategies in Wealthfront are always rewarding.
Pros:
- Low ETFs expense ratios
- Diverse asset classes
- Daily tax-loss harvesting
- Automatic rebalancing
- Option to get the account management fee waived off
Cons:
- No fractional shares
- No large-balance discounts
- Limited investment options
Download Wealthfront app: Google Play | App Store | Check Wealthfront Website
Also read: Best Personal Finance Software for Mac and iPhone
Ally Invest
Best Stock Trading App for Bonuses
You can earn $50 and 3 months of commission-free trading with a $10,000 deposit. If you make a larger deposit, the bonus amount can go as high as $3,500. This makes it an alluring app for beginners looking to make some serious investments in the stock market. As for the usual costs, Ally Invest charges a $4.95 commission for stocks and ETFs trading. The cost for options trades is $0.65.
If you are an active trader, you can get a discounted price of $3.95 for stocks and ETFs. This will go down to $0.50 for options if you make 30 or more trades per quarter. That, coupled with the intuitive app resources, makes Ally Invest one of the best investing apps today. Note that there is no account minimum for maintaining a portfolio in Ally Invest.
The added perks of using Ally Invest include forex trading and automated portfolio management options. Experienced investors can also benefit from the suite of free tools offered by the trading app. It even allows free online trading of stocks, options, and ETFs.
Pros:
- No commissions on online stocks, options, and ETFs trading
- No account minimum
- Smart and quick trading capabilities
- Real-time streaming quotes and data
- Great investment research tools
Cons:
- Best suited for pro investors
- Limited options for mutual funds
- Steep pricing for low balance accounts
Download Ally Invest app: Google Play | App Store | Check Ally Invest Website
M1 Finance
Best Free Investment App for Stock Picking
M1 Finance can be ideal for long-term investors who prefer handpicking stocks along with some assistance. You can choose the portfolio that suits your interests in the best way. Go for a portfolio powered by a robo-advisor if you need a low-maintenance account. Else, build a portfolio of stocks and ETFs manually if you are well versed in the market. You can choose a combo of both as well. This hybrid setup will be great for investors looking for more flexibility.
Although M1 Finance has the robo-advised feature, it does not provide automatic tax-loss harvesting. On the bright side, the data security measures of M1 Finance are quite solid. It comes with 4096-bit encryption for data storage and transfers. You also get the standard two-factor authentication in the app.
You can create a taxable account as well as an IRA account on M1 Finance. Both the accounts will be free for users who invest a minimum of $100 and $500 respectively. You can also get a line of credit in M1 Finance with flexible payback schedule. For that, you will need to have at least $10,000 in the account.
Pros:
- Hybrid investment app with better flexibility
- Preset templates for beginners
- Simple and user-friendly interface
- No account minimum
- High level of customization
Cons:
- No real-time trading functionality
- Limited research materials
- No expert financial advisor for guidance
Download M1 Finance app: Google Play | App Store | Check M1 Finance Website
Choosing from the Best Investment Apps
The above-mentioned best investment apps are worth their salt. It does not matter whether you are a novice or a veteran investor. These stock trading apps will surely benefit you depending upon your needs. You just need to pick the right one for your needs. Consider the below factors when are looking to choose from the best investment apps.
Fee structure
Most of the stock trading apps allow you to trade for a small fee. Some may charge on a per-trade basis while others may have a monthly fee. No matter how they charge you, make sure that the fee structure is reasonable. Remember, the best investing apps come with more added features and options. This means that their pricing could go higher accordingly.
Accessibility
The best trading app will work on both iOS and Android devices. However, there are some apps, which do not have a native app for Apple and Android devices. Instead, they will have a desktop browser version alone for stock trading. The ones listed above do come with dedicated iOS and Android apps though. That makes all of them the best investment apps in terms of accessibility.
Services
Not all stock trading apps work in the same way or offer the same services. Therefore, you should carefully check the features and offerings of your preferred best trading apps. Check the account type supported as well. This way, you can rest assured that the app will suit your needs in the most appropriate way. Note that things will be much simpler if the app had advanced research tools.
Also read: Best Stock Simulator Apps for Android Users
Best Investment Apps for Beginners and Pros
Everyone has different risk capacities and financial goals. Therefore, the most important step to finding the best investing apps will be to assess your needs. Generally, people look for a robo-adviser in the best investment apps for beginners. This will help you to customize the portfolio based on your risk tolerance and investment goals. At the same time, the automated feature will try to keep the costs as low as possible.
If you are an experienced trader, then you will know how things work in the stock market. If so, the best investment apps with more advanced tools and features will be your ideal match.
