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Thinking of what might be the best investment apps for beginners like you? A perfect investment app should be one that can operate financial tasks remotely, track spending, shuffle bucks into investing accounts, provide the security everyone looks for, and more.
With these requirements in mind, let’s explore this topic further about the best investment apps available for beginners right now. These will cover the best investment apps for students as well.
With so many options available in the hand, it might be an overwhelming process for a beginner to start the investment game without a kick-starter guide. Worry not! We’ve got you the best investment apps to make money. You have found the perfect guide to start your investment career.
After researching, investigating, and obviously learning from inside, we found some apps to be the most organized and investor-devoted in terms of usability.
We tried to keep options for everyone with different criteria. So one app that may sound perfect to someone, to someone else it might not. It’s the investor’s call to choose the best investment apps for himself or herself. Many of these offer debit cards to spend your money. You can use them like your existing debit/credit cards (conditions applied).
This article explores 11 of the best investment mobile apps for beginners in 2021. Let’s get into the business.
Table of Contents
You would want to keep your money safe while starting as a beginner. SoFi is just that amazing rose you were looking for. It is an easy pick for beginners considering its easy-to-use platform paired with jaw-dropping pricing.
You can get started with SoFi for as low as $1. Yeah! You heard it right. You can start with that minimum amount of investment. That means anyone and everyone can start investing using SoFi. Just open an account, minimum $1 investment is your go to option!
With stocks and ETFs listed by category, SoFi makes it easy to explore potential investment scopes. The SoFi app doesn’t have investment research included, but the features are enough for anyone to get started.
The app offers complimentary financial planning sessions for all members as a bonus feature. If you’re a beginner, looking for a strategy to kick-off your journey, SoFi is the right investment app to get started with.
If you can’t provide that time for research on when and where you should invest but want to enter the investment game anyway, Acorns is the perfect app to put your bucks through.
Acorns offers a totally hands-off investing experience, which costs only $1 per month. That means, for only $1 per month, Acorns will manage all your spendings wisely for you. Everything from investing spare change through transaction round-ups to automated transfers, Acorns will handle everything on its own for you.
Although the user experience is not quite helpful with Acorns, you have to keep in mind that the monthly fees are there anyway. Additional accounts and features such as retirement accounts will cost $3 or $5 per month.
Researching and choosing stocks on your own might sound like a problematic process especially when you’re a beginner.
Savings and investments are different. But you don’t need to be an experienced investor for this. The Public app helps you precise your investment via providing features from social networks like Facebook & Twitter along with all those typical brokerage features.
You can start buying shares into big companies starting from as low as $5. Public covers stocks and ETFs, obviously with a user-friendly process. Though it doesn’t offer every popular type of investment, it covers well enough for a beginner to start with.
Looking for a professionally managed portfolio for a low cost? Check it out! Betterment can be a great choice for you. Betterment offers professionally managed portfolios using a selection of ETFs and is calibrated against your own risk tolerance.
If you’re willing to risk your bucks more, the app promises to return higher. You can set up Betterment and relax while your account is being managed professionally.
The management fee of Betterment for the basic account amounts is 0.25℅ of your investment, which counts $25 annually for every $10,000 of your investment.
You’ll have to pay extra for ETFs anyway, just like any other robo-advisors. You can choose to play safe or take risks, the choice is yours, Betterment app will do the rest for you.
Add money, set your goal, and let Wealthfront show the magical skills if you’re willing to pay more for a smooth investing experience. Using the Wealthfront app will make you feel like having no less than a personal financial advisor.
Wealthfront makes it easier for its users to start investing right away, still have the highest return possible with what you can plan your next vacation. Just like other apps on this list, Wealthfront features automatic investing and tax-loss harvesting.
You can create individual account, joint brokerage account, as well as a variety of retirement accounts including SEP and rollover IRAs. It requires a $500 minimum investment to get started with Wealthfront. The app charges 0.25 percent of your account balance annually after joining.
Ally Invest is an ideal solution for anyone who is looking for a simple and straightforward investment platform. You can start trading stocks and ETFs with zero commissions. The mutual fund trades will cost a $9.95 commission though.
This app is used by Ally Bank and heavily invested its experience for more towards beginners.
You can trade stocks, ETFs, options, and cryptocurrency all for free through the Robinhood app. Anyone who’s looking for a trading commission-free platform to start investing with, Robinhood is the right place to be.
Though Robinhood offers a no-commission experience, it has premium account opportunities starting at as low as a $5 monthly fee. It’s recommended to understand one’s goals and avoid unexpected losses before starting investing via Robinhood.
Stockpile makes it easy for the youngest investors to start their investment empire right away. Stockpile is not a commission-free one, but it charges a commission of 99 cents per trade.
Allowing fractional share investing and support for the gift of stock through gift cards makes Stockpile a unique choice in this list.
Stockpile features mini-lessons that teach how to invest. If you’re looking for a platform to make your juniors start investing through, Stockpile is a good solution.
Investing mixed with a solid community experience is an ideal description for the Invstr app. The app features a fun fantasy stock game, where you can assist in managing a $200 billion virtual portfolio, with access to investors’ thoughts on stocks and other investments.
Using $1 million virtual money given in the game, you can use the app’s social network and news feed to source ideas. You can start buying fractional shares from 99 cents per trade and whole shares from $2.99 per trade in the app if you want to make those learnings from the fantasy game real.
Webull is another commission-free trading app that helps newer investors to navigate but offers excellent pricing and investment tools. Webull offers trading cryptocurrencies, including Bitcoin, Ethereum, and Litecoin without any fee.
If you want a platform with no-commission trading through multiple asset classes, the ability to set up an IRA with your investing app is there with Webull.
Stash is another great platform for newer investors. You can buy a fraction of shares in huge tech companies using Stash. This is best for new investors who want to learn how to invest and build the right mindset. Stash has a downside though. Its monthly $1 to $9 fees make it less appealing for everyone.
We’ve tried to cover as many as possible. Another potential platform can be TD Ameritrade, if you want to explore more. Please let us know your ideas and queries!
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