How To Find The Top Investment App For Beginners? Do you want to invest in a business but don’t know how to go about it? As a first-timer, time constraints are one of the biggest obstacles you may likely face. However, there are some best investment apps for beginners, which this article will be outlining, so make sure you read to the end.
How To Find The Top Investment App For Beginners
You can find the best investment app as you read through this article. There are amazing apps dedicated to almost every investment strategy and at every skill level. The right investment app can make many financial actions more accessible, from beginners ready to make their first investment to advanced entrepreneurs looking to trade stocks on the go.
What Are The Best Investment Apps For Beginners?
The best investment apps for beginners come with the following features: user experience, risk management, and available information. Below are some of the best investment apps for beginners:
- Wealthbase
- Ellevest
- Acorns
- Stash
- Ally
- Invstr
- Robinhood
Wealthbase
Wealthbase is an investment simulation app, best for investment beginners hoping to learn the ropes alongside friends. With the app, users can make stock trades, exchange cryptocurrency, and also keep an eye on their friends’ feeds to see how well they’re doing. The app’s purpose is to get more comfortable with trading and choosing stocks. Moreover, the social component makes the process more enjoyable and allows you to discuss your options with others.
Ellevest Investment App
Investors who are focused on choosing a socially-minded portfolio may want to consider Ellevest. The app is known for its highly rated robot-advisors and its focus on investments that positively impact women. Ellevest offers portfolios that are focused on impact funds or companies with female leadership, sustainable business practices, and community service. However, investors can review the various options and put their money in companies with similar visions.
Acorns
For starters, Acorns is a good investment app. This app is best if you want to bolster your savings and invest without thinking about it. Thus, this app integrates with your credit or debit card and rounds up purchases to automatically add funds to an investment account. However, Acorns let you invest in ETFs and a few fractional shares in stocks. Three tiers (lite, personal, and family) let users add additional accounts for a premium rate.
Invstr
The Invstr App is one of the best investment applications for starters. It is best known for its fantasy game-play, letting users play with $1 million in fake cash to learn more about stocks. Invstr is the best option for anyone who wants experience managing a portfolio before actually getting started. However, the app has an active community of investors and an updated news feed to help users learn more about managing a portfolio.
Stash Investment App
The Stash App is one of the best apps for beginners who wish to learn the ropes of investing fast. This investment app mixes educational content and games to make financial topics easier to learn. However, users can customize goals based on what they want to focus on and actively track their progress. With Stash, you can work with value-based investment offerings and provide suggestions for building your portfolio.
Ally App
The Ally Invest app is a great option for beginners interested in stocks and bonds. It integrates real-time data to allow users to trade anytime, anywhere. The Ally Invest app also gives users access to bonds, mutual funds, and ETFs. However, with this app, there is no minimum investment, and the app doesn’t require additional downloads to access the trading platform (making it very user-friendly).
Robinhood
The Robinhood investment app was 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. Though today, several apps have this same offering, Robinhood still stands out for the following reasons:
- The app allows users to trade cryptocurrency without fees.
- It 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.
Investing App Tips For Starter Investors
The best investment apps aim to make investing more accessible for everyone, mostly beginners. For first-time investors, apps with low minimums and affordable fee structures can be a good way to get started. For instance, through Acorns and Ally, you can begin investing your extra money directly from your smartphone.
However, beginner apps, like Invstr, let you learn about investments before you get started with your own funds. The features offered by beginner-friendly apps can help you to learn how to invest without going through a financial advisor, risking your savings, or even spending significant time researching ahead of time.
So, the major thing here is to find an app that is compatible with your learning style and go from there.
The Best Investment Apps for Everyday Investors
There is probably an app for whatever you want to do, whether it’s stock trading or overall portfolio management. Below are some of the best investing apps available:
- M1 Finance
- E-Trade
- TD Ameritrade
- SoFi
- Merrill Edge
- Wealthfront
- Wealthbase
- Stockpile
- Fidelity
- Charles Schwab
- Betterment
How Much Money Should I Invest?
There is no general or set amount of money you “should” invest, although your overall contributions should be tailored to your goals. With any new financial endeavor, the best strategy is mostly to start small as you get comfortable with the ins and outs. However, most of the apps listed above have minimal fees (if any) when getting started. Consistent contributions and proper management over time can assist you in growing considerably.
What is the best app to start investing in?
Below are the best investment apps in September 2022:
- The Wealthfront app is a great app for portfolio management.
- Fidelity Investments app – a great all-in-one money management app.
- Robinhood is a great app for active trading.
- Charles Schwab – The best app for newcomers.
- Ellevest: a great app for socially responsible investing.
