I’m sure you know about our motto: if we don’t use it, we won’t write about it. So we did thorough research and tested many apps ourselves. The result is this list of the best investment apps. We tried the best investment apps 2021 and these are far better than others out there. They get you up to speed in less time and with less effort.
Have you ever spend hours researching the markets and learning how to invest? Do you think learning about money would be fun and interesting? If your answers are yes, then this post is for you. This article is going to provide you with several of the best free stock investment apps that I personally use and also recommend.
Invstr
Invstr is what you get when you mix learning, real-life investing and community into an app that’s designed to give beginning investors a way to get into stocks, especially if you like games. The app combines a fantasy stock game, where you can assist in managing a $200 billion virtual portfolio, with access to investors’ thoughts on stocks and other investments.
The fantasy game gives you $1 million in virtual money, and you can use the app’s social network and news feed to source ideas. The month’s top performers win real cash, too. And if you want to turn some of those fantasy picks into real-life stakes, you can buy fractional shares and whole shares commission-free in the app. The app will even give new users $5 when they open and fund an account. Invstr has also started offering commission-free trading in cryptocurrencies.
Reasons to get this app: You want to learn from an investing community, hear why they like certain stocks and play a fun fantasy game.
E*Trade
E*TRADE is a one-stop-shop for investing. Whether you’re a seasoned investor or a beginner, you’ll find what you’re looking for. In 2019, E*TRADE eliminated all stock and ETF trading fees and offers over 4,400 no-load, no transaction-fee mutual funds.
If you’re not interested in self-directed investments, E*TRADE’s Core Portfolios are a great option. After you fill out a risk profile to share your goals, time horizon, and risk tolerance, you’ll get a recommended tax-sensitive portfolio of ETFs.
You can further customize your portfolio as “socially responsible,” which shifts your allocation to include an ETF with companies that have progressive social, environmental, and corporate practices, or “smart beta,” which favors growth stocks in an attempt to outperform the market. To start investing, you’ll need at least $500.
If you’re investing $25,000 or more, E*TRADE’s Blend, Dedicated, and Fixed Income Portfolios are worth considering. In addition to a more customized portfolio, these plans include one-on-one advising with a financial consultant.
Through E*TRADE’s two mobile apps, you can access your accounts, make trades, view charts and research, and watch Bloomberg TV.
Fees:
- For the active investor: $0 stock, ETF, and options trading
- For the passive investor: 0.30% annual AUM fee for a Core Portfolio (minimum balance of $500)
- For the high net worth investor: 0.65% to 0.90% annual AUM fee for a Blend Portfolio (minimum balance of $25,000); 0.95% to 1.25% annual AUM fee for a Dedicated Portfolio (minimum balance of $150,000); 0.35% to 0.75% annual AUM fee for a Fixed Income Portfolio (minimum balance of $250,000)
Account types: Individual, joint, and custodial brokerage accounts; traditional, Roth, custodial, SEP and inherited IRAs (includes rollovers).
Look out for: While you’re able to open an account and choose a Core Portfolio with $0 down, you’ll need to fund the account with at least $500 to get started investing. Investors should also note that Morgan Stanley acquired E*TRADE on October 2, 2020.
M1 Finance
Best For: Building A Free Portfolio For The Long Term
M1 has become our favorite investing app and platform over the last year. With commission free investing, the ability to invest in fractional shares, automatic deposits, and more, M1 Finance is top notch.
If you’re looking for a way to create and maintain a free, diversified portfolio of stocks and ETFs, look no further than M1 Finance. They provide a pretty revolutionary tool/investing app that allows you to setup a portfolio and invest into it (correctly allocated) for free.
What do I mean? Well, imagine a portfolio of ETFs – maybe you have 5 ETFs at 20% each. Well, instead of having to do 5 transactions (and commission for each) when you buy, you can now simply invest and M1 Finance takes care of the rest – for free!
If you don’t know exactly how to set it up, you’re more than welcome to use one of their already setup portfolios as well.
Plus, M1 Finance has a great investing bonus offer right now! You can get up to $2,500 if you deposit new money!
Wealthbase
Wealthbase is a newer entrant into the world of stock market games, and it may be the most user-friendly investing app out there for having fun and picking stocks. You can set up games with friends to last however long you want — a few weeks, days, even just until the end of the day.
Two things set Wealthbase apart in the stock simulator world: first, the app marries social media with stock picking. You’ll see a feed of stocks your friends are picking, with daily updates of who’s winning, and you can engage in a little friendly “trash talk.” Second, the app runs very smoothly — no delays to load, no hiccups. Even if you’re not a huge stock-picker, you’ll have fun here. And you can trade crypto in the simulation as well.
You can access Wealthbase on the web or via mobile app.
Reasons to get this app: You like picking stocks and playing games in a social environment with friends and colleagues.
SoFi Invest
You won’t be charged any advisory fees, stock or ETF trade fees, or subscription fees to invest with SoFi.
For those with a set-it-and-forget-it attitude, SoFi’s automated investing platform will recommend a portfolio made up of ETFs, based on your risk tolerance. Once you decide which portfolio is appropriate, you can get started investing with as little as $1.
You won’t have to bother rebalancing your portfolio since SoFi will do it for you at least once a quarter, but if your goals or overall financial situation changes, you can adjust your portfolio and even set up an appointment with a SoFi financial planner at no extra cost. Keep in mind that you’ll still have to pay fees to the funds you’re invested in within your portfolio.
Active investors don’t pay transaction fees when buying and selling fractional shares, stocks, or ETFs. You can also invest in cryptocurrency but SoFi charges a markup of 1.25% on those transactions.
SoFi Money (Member FDIC), a checking/savings account hybrid with a competitive interest rate, a debit card, and unlimited ATM fee reimbursements, can store money you’re not ready to invest yet.
Fees: $0 for automated investing and stock and ETF trades; 1.25% markup on crypto transactions.
Account types: Individual and joint brokerage; Traditional, Roth, SEP IRAs (includes rollovers)
Look out for: There are only five portfolio options available for passive investors, ranging from conservative to aggressive. Despite no advisory charges, you’ll still incur fees from the ETFs included in your portfolio.
Fidelity
Best For: Full Service Investing At $0 Trade Prices
Fidelity is one of our favorite apps that allows you to invest for free. This surprises most people, because most people don’t associate Fidelity with “free”. However, Fidelity offers a range of commission-free ETFs that would allow the majority of investors to build a balanced portfolio. Plus, they now offer $0 commission stock, option, and ETF trades!
The also offer fractional share investing, meaning that you can invest dollar-based, not just share-based. This is a big win for people starting with low dollar amounts.
Fidelity IRAs also have no minimum to open, and no account maintenance fees. That means you could deposit just $5, and invest it for free. That makes this a much better deal compared to companies like Stash Invest.
Furthermore, Fidelity just announced that it now has two 0.00% expense ratio funds – yes free. So, you can not only invest commission free, but these funds don’t charge any management fees. Truly free investing.
But to make it a top app, it has to have a great app, and Fidelity does. Their app is the cleanest and easiest to use out of all of the investing apps we’ve tested. They have a ton of features, but it all works well together.
Plus, you get the benefit of having a full service investing broker should you need more than just free. Check out Fidelity’s app and open an account here.
Conclusion:
There are plenty of investment apps (and stocks) to look into. There’s nothing like the satisfaction of watching your portfolio grow! But because there are literally hundreds of financial apps available, choosing the best one for you can be difficult. Best Stock Investment Apps