Starting your stock investing journey can present a lot of pressure and perplexity. These include what to invest in, how to invest in stocks, and which investing apps to use.
Thankfully, many brokers offer beginners access to the stock market with easy-to-understand interfaces.
These apps provide access to different accounts and investment products for beginners. It also provides guides that suit your investment plan. These include educational guides, human advisor access, and strong customer support. These help in achieving your financial goals.
A reliable investing app lets you trade stocks, follow your account in real-time, and learn about the markets. It also handles financial tasks and shuffles money into investment accounts. Read on as we discuss some of the top investment apps for getting your finances organised and invested.
Acorns
Acorns is a great investment app for beginners who do not want to manage their accounts. The app has no investment minimums and five portfolio types. It automatic spare change investing through transaction round-ups. It also automated transfers, retirement account savings, banking perks, and a fully automated investment plan.
Furthermore, Acronis help invests your money into a diversified portfolio of ETFs. These make it useful for bolstering your savings and investing. The upside of Acorns is that it is easy to use, and the downside is a fee for additional accounts and features. But it is arguably better than asset-based fee deductions that fluctuate as your balance grows.
Robinhood
Robinhood is one of the first apps to offer stock trading without commissions. That means stock, bitcoin, Ethereum, dogecoin, and litecoin investors can use Robinhood at no cost. These made starting a stock portfolio more attractive and a solid choice for beginners. Robinhood has no minimum account balance and no inactivity fees. Its user-friendly interface makes it stand out among other investment apps.
However, Robinhood does not sync with retirement accounts and has limited customer support. It also has a history of controversies. These include downtime and how some users have entered extremely risky trades they did not understand. Furthermore, premium accounts are available with more features for $5 and above monthly.
Wealthbase
Wealthbase is one of the newer investment apps perfect for beginners. It is the most user-friendly investing app for having fun and picking stocks alongside friends. Users also make stock trades and exchange cryptocurrency without stress. Wealthbase helps beginners get more comfortable when trading and selecting stocks.
Many beginners say Wealthbase is a great app for learning and not worry about the risks of investment without experience. It has a social component where you can discuss your options with others. It also runs very smoothly with no loading delays and hiccups. These make the process more enjoyable and satisfying.
Investor
Investor is one of the best investment apps for beginners with a mix of learning, real-life investing, and community. It is a great option for anyone who wants experience managing a portfolio before getting started. It also has an active community of investors and specialised education material. These help users learn more about managing a portfolio.
Investor is best known for its designed game features that allows users to play with $1 million in fake cash. It also gives new users $30 worth of Bitcoin when they open and fund an account with $100. These help beginners learn more about stocks and investment. The app has also started offering commission-free trading in cryptocurrencies.
Ellevest
Ellevest is one of the highly-rated Robo-advisors that focus on investments impacting women. It is good for beginners looking for a socially-minded portfolio. The app’s mission is to help women investors make smart investing decisions. It creates investment portfolios for women in different circumstances. These include lower lifetime earnings and many more. It also offers portfolios focused on companies with female leadership, sustainable business practices, and community services. Beginners can review the options offered by the app and put their money into companies with similar visions.
Stash
Stash is one of the mobile-friendly apps for beginners that want to learn about investment. The app mixes educational content and games. These make financial topics easier to understand for beginners. Stash does not collect commission on trading and does not have an account minimum. Also, users can customise goals based on their focus and actively track their progress.
The app is low-cost, and beginners can actively select stocks to trade. It provides value-based investment offerings and suggestions for building your portfolio. It also offers custodial accounts for beginners and minors. But it comes with a monthly fee and justifies this with a full-service personal finance platform.
To sum it up
Your choice of stock investment and investing apps should come down to your investment goals. Therefore, it is important to research and review the app details. Know if the app supports your types of investments and preferred features.
