the Best Investment Apps For Beginners 2021 Are you a beginner who want to learn about the cryptocurrency market? If so, you’ve come to the right place! There’s a lot of information and knowledge you need to learn and understand before you can join and invest in the crypto world. Luckily for you, we’re going to break it all down into simple and easy to understand parts. Before we move forward, we just want to give you a little background information on what cryptocurrencies are as well as what cryptocurrencies can do for you as an investor.
looking for the best investing apps to get your financial life back on track? A solid finance app can handle routine financial tasks, shuffle money into investing accounts, and track spending. But the best investment apps can also let you quickly trade stocks, follow your account in real time and help you learn about the markets and more. Because they can do so much, investment apps have become increasingly popular.
Here are some of the top apps for getting your finances organized and invested. All of these apps are great for beginners, and they make it easy for those just starting to invest or looking to play a stock-picking game for fun.
When it comes to taking control of your financial future, investing is one way to diversify your income and grow your wealth. However, if you’re new to investing, figuring out the best way to get started can be daunting. Now thanks to technology, investing is becoming more accessible to the masses and just about anyone can get started on a mobile app. We compiled the 13 best investing apps for beginners that help you diversify your portfolio and learn as you go.
As you get into investing, remember that all investments come with their own risk and return expectations. It’s wise to diversify your portfolio to reduce the risk associated with any one investment. Chris Rawley, CEO of Harvest Returns, states that “diversification helps manage the overall risk of a portfolio and can help shield returns from market volatility, economic uncertainty, and inflation.” Try to vary your investments and use this investment calculator to project your financial success.
Feel free to jump to the infographic for a visual guide of the pros and cons of the top investing apps for beginners.
1. SoFi Invest
Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 4.1 out of 5 stars
As one of the top ranking investing apps in the Apple Store, SoFi Invest is made for all experience levels. Beginners can easily opt for automated investing and let SoFi’s investors build your wealth for you. For the more hands-on beginner, you also have the freedom to diversify your own portfolio by choosing from crypto, stocks, or exchange-traded funds (ETFs). With SoFi’s affordably priced offerings, all you need is $1 to get trading with no commissions.
Features:
- Fees: None
- Commissions: None
- Minimum balance: None
Pros:
- User-friendly platform
- Affordable trading
- Fractional share options
- No-cost financial planning
Cons:
- Limited investment options
2. Betterment
Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 4.6 out of 5 stars
If you want an investing app designed to help you reach your goals, start out with Betterment. This app is great for beginners because it takes care of everything from managing your money, investing it, trading, and rebalancing your portfolio. The only caveat is that Betterment does it all for you if you’re willing to spend a little extra on it. You can choose from two investing plans: Digital (0.25 percent of your balance) and Premium (0.4 percent of your balance).
Features:
- Fees: Annual fees of 0.25 percent or 0.4 percent of your balance, various fund fees
- Commissions: None
- Minimum balance: None for Digital, $100,000 for Premium
Pros:
- Hands-off investing
- Goal-oriented platform
Cons:
- Annual fees for advising (high with large balances)
- High minimum balance for Premium plan
3. Fundrise
Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 4.6 out of 5 stars
Another way to diversify your portfolio is through real estate, but investing in this industry hasn’t always been the most accessible thanks to the high cost of investment. Fundrise’s unique low-fee model changes the real estate investing game and opens up the opportunity to beginner and savvy investors alike. In just a few minutes, you can create an account with a low investment minimum, select your preferred investing strategy, and sit back as Fundrise diversifies your portfolio for you.
Features:
- Fees:
- 0.15% annual advisory fee
- 0.85% annual asset management fee for standard portfolios
- Commissions: None
- Minimum balance:
- $500 for Starter account
- Varying minimums for other account types
Pros
- Low fees and balance minimum
- Open to non-accredited investors
- 90-day guarantee
- Two-factor authentication and biometric security
Cons
- Not good for short-term investing
- Investments are not liquid
4. Charles Schwab
Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 3.1 out of 5 stars
Investing with Schwab Mobile is a great option for beginners who want to learn and put their knowledge to use. Schwab’s free and expansive research offerings include real-time news, a quarterly magazine, researched reports, and expert quotations. The platform also offers a variety of affordable funds to invest in. As you level up your skills, you can use the mobile app to trade and monitor your positions at all hours, as well as customize your investing experience with alerts, summaries, and notifications. The app earns bonus points with beginners for zero minimum balance and no annual or inactivity fees.
Features:
- Fees: None
- Commissions: None
- Minimum balance: None
Pros:
- Large investment selection
- Ample research offerings
- No fees or minimums
- Biometric security
Cons:
- Small cash sweep rate for uninvested funds
5. Acorns
Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.4 out of 5 stars
Founder of DebtHammer, Jake Hill, says, “Even if you don’t have a lot to invest, make sure you’re putting it in different places. Whatever you can afford without straining your finances.” Acorns makes investing with whatever you have easy by automatically investing your spare change. Users can set up an account in less than five minutes and begin automating micro-investments at price plans of $1 (Lite), $3 (Personal), or $5 (Family) per month. Depending on your plan, you can invest your spare change, start saving for retirement, or even start investment accounts for your kids. Beginners can start investing without having to think about it or manage it, and a team of advisors is there for support if you ever need them.
Features:
- Fees: $1 to $5 per month
- Commissions: None
- Minimum balance: None to open, $5 to invest
Pros:
- Invests spare change from purchases automatically
- Built-in robo-advisor
- Educational and investing support
- Cash back at select retailers
Cons:
- High monthly fees compared to small account balances
- Small portfolio
- Can’t build your own portfolio
6. Stash
Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 3.9 out of 5 stars
Stash is focused on simplifying investing for regular people, and it represents another option for beginners to grow their wealth. You can start investing in fractional shares through one of Stash’s three monthly subscription plans, starting at $1 for the Stash Beginner plan, and you can always level up to Stash Growth ($3 per month) or Stash+ ($9 per month) if you want more investing options*. They offer a great learning center with built out posts to teach you about investing and keep you up-to-date on money news.
As a bonus, when new members sign up for Stash and deposit at least $5 into a Personal Portfolio, Stash will give you $10 which can be used towards your first investment. So sign up through Stash, and open a Personal Portfolio to get started*.
Features:
- Fees: $1 to $9 per month
- Trading Commissions: None
- Minimum account balance for a Personal Portfolio: None
Pros:
- Educational resources
- Personalized investment advice
- Automated investing
Cons:
- Monthly fees can be high compared to a low account balance
- Only four trading windows*
Conclusions
Have you ever wondered what are the best investment apps for beginners 2021? Of course, there are many options of apps for investing of money. But not every application is the best one for you or your goals of investing. So, I want to present here the list of best investment apps of year 2021.