What are the Investing in Stocks Apps for Beginners? Do you already have an investing app? Want to invest but don’t know how to choose the best app. If you are interested in stock trading or buying stocks online then you need to know about investing in stocks apps. We are recommended some investing app.
If you are looking for the Investing In Stocks Apps For Beginners, then this is your lucky day. We put together the best resources about Investing In Stocks Apps For Beginners that will help you get started in no time. invest like a pro!
Acorns
Acorns is a great investment app for beginners. This app is especially useful if you want to bolster your savings and invest without even thinking about it. The app integrates with your credit or debit card and rounds up purchases to automatically add funds to an investment account. Acorns allows you to invest in ETFs and a few fractional shares in stocks. Three tiers (lite, personal, and family) allow users to add additional accounts for a premium rate. Other key features of the app include:
- No investment minimums
- Five portfolio types
- Automatic rebalancing
- Option for family spending account
- 24 hour customer support by phone or live chat
- Costs $1 to $5 a month depending on account type
Ally
Ally invest is a great option for beginners interested in stocks and bonds. This app integrates real-time data to allow users to trade anytime, anywhere. Ally invest also gives users access to bonds, mutual funds, and ETFs. There is no minimum investment, and the app doesn’t require additional downloads to access the trading platform (making it very user friendly). Additional features include:
- Nonexistent fees on eligible stock and options trades
- Options pricing calculator
- Some transaction fees depending on investment type
- Chat, email, and phone support
- Additional web browser based access
Robinhood
Robinhood gained popularity as one of the first apps to offer stock trading without fees or commissions, which made starting a stock portfolio a lot more attractive for first-time investors. Today, several apps have this same offering, but Robinhood still stands out for a few reasons. First, the app allows users to trade cryptocurrency without fees. Robinhood also has no minimum account balance and no inactivity fees. Its user-friendly interface also makes it stand out among other web-based trading platforms. There are a few drawbacks to keep in mind, for example, Robinhood doesn’t sync with retirement accounts and has limited customer support. But given its user-friendly interface and nonexistent fee structure, Robinhood remains one of the best stock market apps.
SoFi
SoFi, short for Social Finance, is a relatively new investment app known for its easy-to-use platform and low costs. Users can pick between an active investing account or a passive portfolio managed by robo-advisors. Investment options include stocks, crypto and ETFs. There are no commissions on trades or recurring account fees. SoFi also offers free financial planning sessions to encourage sign ups and facilitate financial education through its app. With no account minimums, SoFi is a great option for beginners looking to learn.
Wealthfront
Wealthfront is a hands-off investing app that allows you to grow your funds with the help of a robo-advisor. The app starts with a questionnaire about your financial goals and risk tolerance before guiding you towards specific investment options. The app will then balance your portfolio as needed, charging a .25 percent account management fee. The minimum investment is $500, which can be steep compared to other apps on this list. However, this minimum is relatively low when compared to investment opportunities outside of the app store.
M1 Finance
M1 Finance strikes a balance between hands-on investing and automated portfolio management. The app allows users to build a portfolio of stocks and ETFs. M1 Finance works best for investors who want the flexibility to build their own portfolios, with a little guidance along the way. It offers a taxable investment account and IRA for users. M1 Finance also includes:
- Hybrid investment setup with stocks and ETFs
- Taxable account minimum at $100
- Retirement account minimums at $500
- No fees after account minimum is met
- Premium version with more stock options
TD Ameritrade
If you like diving into all the details of a subject before getting started, TD Ameritrade is about to become your best friend. This app allows users to access information on stocks, companies, and markets to make informed decisions when investing. There are even educational videos available to break down more complex topics. TD Ameritrade also offers users:
- Multiple trading platforms
- No investment minimums
- Wide variety of investments
- Customer support and advice
- Free educational resources
Invstr – Best investment app for learning about investing
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.
Wealthfront – Best investment app for sophisticated portfolio management
Wealthfront is one of the largest independent robo-advisors, and for a small fee it can manage your money, whether that’s in a taxable account or an IRA. Wealthfront uses low-cost ETFs to construct your portfolio and takes into account how much risk you want to take as well as when you’ll need the money. As you deposit money, Wealthfront will add it to your portfolio and keep your account balanced and on target toward your goal.
Wealthfront’s management fee runs 0.25 percent annually, which is the industry standard. It’s an eminently reasonable price for the features on offer, including automated tax-loss harvesting, which effectively covers the annual fee for many clients, says the company. Wealthfront also brings an attractive cash management account (even if you don’t sign up for the investment account), and you’ll receive a competitive interest rate, early access to direct-deposited paychecks and a debit card – all without a monthly fee.
Reasons to get this app: All you’ll need to do is add money to the account and Wealthfront manages your portfolio to reach your goal. The cash management account is cool, too. As a Bankrate user, get $5,000 managed for free when you open a Wealthfront investment account.
Minimum balance required: $500
Fees: Management fee of 0.25 percent of assets annually
Webull: Best Stock Trading App for Beginners
- Available via desktop, Apple iOS and Google Android.
- Sign up here
Webull came into the stock trading world in 2018 when it started challenging Robinhood for market share. This stock trading app offers commission-free stock trading as well as commission-free trades on ETFs, options and cryptocurrencies.
Like most investing apps available, the company provides access to trade on your smartphone, tablet or desktop.
As touched on above, it charges no commissions for the trades because Webull makes money on other actions you take, like Payment for Order Flow (PFOF), margin loans, interest on cash and service fees for their Nasdaq TotalView Level 2 Advances quotes subscription.
Webull also provides you access to several powerful tools you can use for in-depth trading analysis. These low-cost or free services easily make the stock trading app one of the best stock research and analysis apps for conducting technical analysis.
If these account features sound attractive, you’ll also be happy to learn your Webull stock trading app and brokerage account comes with no account minimum you must meet or maintain. Finally, to de-risk your sign up, Webull also runs frequent promotions that give free stocks.
Public.com: Best Investing App for Beginners
- Available via desktop, Apple iOS and Android App on Google Play.
- Sign up here
Public.com is a commission-free investment app for beginners that allows stock and ETF trades. The stock market app targets Millennials and Gen-Zers who have attuned their senses to social media and have interest investing in the stock market.
While the company previously followed the lead of apps like Robinhood with monetizing Payment for Order Flow (PFOF), or receiving kickbacks from clearinghouses for routing trades to them, they’ve recently abandoned this practice.
Instead, they now rely on other revenue streams as well as a “tipping” system.
This places this beginner investing app firmly on the side of retail investors and not pledging allegiance to Wall Street clearinghouses.
Conclusion
Want to start investing in stocks but don’t know how the market works? Or maybe you are looking for a way to make money on your own? There are tons of stock market apps out there that open up the world of investing to anyone with a smartphone. But how do you know which app is right for you? What are the best investing apps for beginners?