Looking for the best investment apps for you can be daunting. Anyone new to investing can feel a bit overwhelmed. Don’t fret, there are many options to choose from and there is a right fit for you. This article is meant to be a starting point for you and your financial goals. Every brokerage or investment firm offers something a little different. Here are some of the best investment apps you can start using today.
Betterment
Betterment is a Robo-investment app, and one of the best investment apps if you don’t have much time. Essentially, the app will ask you why you are investing and what your goals are. You can open up 401k, IRA, Roth IRA, and Roth 401k. In addition, you can set up accounts for funding college or savings funds. Many investors like using this app because of its easy interface and intuitive tools. There is an annual fee of .25% which is reasonable for most investors. If you want to deposit your money and let someone do the investing for you, this is one of the best investment apps for you. Plan early while using this app to make sure your investments last.
Robinhood
Want to trade stocks without accruing fees? Robinhood is a great option then. Robinhood is one of the best investment apps because it makes trading so easy. They do not offer in-person services as all business is conducted online. This allows them to keep costs low and for you to reap more rewards from your investments. You also won’t find a very fancy design within the app. Robinhood is straight forward and is focused on buying and trading stocks. They make most of their money on gold users, which allows longer trade hours and margin accounts, and interest accrued on cash accounts. To use a gold account you will need to deposit $2000 dollars, however, for a free account, there is no minimum deposit. Check out this app if you want a simple experience that is focused on trading and no fees.
E*Trade
E*Trade includes a wide array of investments to choose from. A customer can choose from mutual funds, ETFs, stocks, and other investments. Many love this investment app because of the data tools it gives its customers. Break down your portfolio and measure its performance by each investment. A constant supply of charts, grids, analysis, and breaking news help potential investors make their next move. This is not a Robo-advisor and you will be taking your stocks into your own hands. Commissions vary depending on the plan and investment choices. All that data in the palm of your hand makes E*Trade one of the best investment apps for beginners.
Acorns
Still in college but want to start a portfolio? Acorns may be the best investment app for you. Acorns helps invest your stocks on your behalf with each deposit. Except, you don’t physically deposit the money yourself. The app deposits money on your behalf. It does this by linking up with a debit or credit card and rounding up your purchase to the nearest dollar. For example, let’s say you buy a coffee for $3.50. Acorns would then deposit 50 cents into your portfolio. Every time you swipe your card it does this. The strategy is about building your portfolio little by little and having the process be automated. Acorns is free for up to 4 years from when you register if you are a college student. If you have less than $5000 in the account, you pay $1 a month. If you have more than $5000, there is a .25% fee. Acorns is one of the best investment apps for those who don’t want to make annual deposits.
Stash
Starting at $1, Stash is a great beginner investing app. There is no overdraft or minimum balance fees. With simple resources such as guides and articles, Stash explains how you are investing your money and why it matters. Over time, the app helps you build your savings. You can also set up a checking account that can be used to save and invest more money. Also, you can set up automatic payments for money to be saved or invested. In addition, you can do this manually. When you set up your account and plan, you will select the goals that you want to achieve. Stash will help guide you in meeting that goal. Don’t wait if you are new to investing. Download one of the best investment apps and become an everyday investor.
TD Ameritrade Mobile
TD Ameritrade has been in the investing business since 1975. They have a proven track record of helping customers get the results they want. Specifically, investors have loads of options to invest in and goals that can be accomplished. They have excellent customer support and their app provides a detailed analysis of the stocks you are buying. You will have to pay a $6.95 per trade fee. However, customers think it’s worth it for the customer support. You can reach them online, by phone, or in one of the store branches. You can go to a branch and have in-person advice given to you about your investment choices and how to meet your goals. We think this is one of the best investment apps if you want that human touch.
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