2 Top Apps

20 Best Investment Apps for Beginners in 2022

Written by
Hemendra Singh on September 26, 2022
updated on: October 7, 2022
20 Best Investment Apps for Beginners in 2022

More than half of the US population owns stocks, making it one of the most popular markets for stock trading. With the proliferation of zero-commission stock trading apps, a new generation of stock traders is being attracted to the market.

However, Retail investors are increasingly using mobile apps, with a surge in 2020 due to the Coronavirus pandemic and the emergence of meme stocks. The number of users of investment apps is expected to surpass 150 million in 2021 as they are able to do so many things. To know more about the investing apps go through this blog. First, let’s understand the best investment apps for beginners.

How to Pick the Best Investment App?

best investment apps for beginners
For beginners, there is no one-size-fits-all top investment app. All of these investing apps offer different investment options and features, which is why we have included several top picks on our list.

Decide what features and investments matter most to you before narrowing the list down to the best investment apps.

The following questions aren’t exhaustive, but they can help you get started:

Q.1 Should I Invest in Individual Stocks or Use a Robo-advisor to Automate My Investing?

You can do both with some apps. If you have the time and desire to research and manage your portfolio, stocks and ETFs can be great investments. Automating your investments, however, isn’t a bad idea.

Q.2 Do I Intend to Hold Stock Positions for the Long Term, or Do I Plan to Trade in and Out Frequently?

Active traders may find some apps appealing, while long-term investors may find others appealing.

Q.3 Do You Think that keeping Fees as Low as Possible is More Important than Having a Variety of Investment Options and Features?

In addition to their low fees, Robinhood and other low-fee brokerages offer few educational tools and stock research reports.

Q.4 Does the App Have to be Easy to Use for Me or Do I Need to be Technically Savvy?

It is generally recommended that beginners avoid the most complex trading platforms, but they can choose from a wide range of complexity levels. While some apps make it very easy to buy and sell stocks, others are more complex (but contain more features).

Q.5 Are Cryptocurrencies, Options, and Futures Something I Would Like to Invest In?

Mobile apps offering them would be a good choice if this is the case.

Q.6 Can I Access My Money When I Need it, or should I invest it for Retirement?

Your app should offer options like traditional and Roth IRAs if you’re planning to invest in retirement.

Q.7 What is the Importance of Educational Tools that Help Me Learn More About Investing?

Several apps offer extensive libraries of information to help investors understand the stock market.

20 Best Investment Apps for Beginners

These are some of the trending apps for organizing your finances and investing. It is easy to start investing with these apps, and they make stock-picking games fun for those just starting out.

Name Of The App Specially Suitable For Investment Advisory
E-Trade Traders of all levels can benefit from this app. Available
SoFi Invest Investing without fees  at low rates Available
Fidelity Tools for financial planning and investing Available
TD Ameritrade Investment Apps Traders with advanced skills Available
Robinhood Cryptocurrency and stock trading simultaneously. Available
Acorns For people who are saving-oriented, this is the best investment app. Available
Ally Multiple trading options are best with this software. Available
Betterment Investing without fees at low rates Available
M1 finance Traders with advanced skills Not Available
Stash Tools for financial planning and investing Not Available
Merill edge If you are saving-oriented, this is the best investment apps Available
Invstr The multiple trading options are best with this software. Available
Wealthfront Investing without fees at low rates Available
Round For people who are saving-oriented Available
Webull It is suitable for both beginners and experienced traders Not Available
Fundrise Multiple trading options are best with this software. Not Available
Stockpile For people who are saving-oriented, this is the best investment app. Not Available
Public Investing without fees at low rates Available
Charles schwab FOR Traders with advanced skills Not Available
Wealthbase When it comes to saving-oriented people, this is the best investment apps. Not Available

Let’s look at them in detail.

Top Investing Apps for iPhone and Android in 2022

best investing apps

1) Fidelity App

The best option for financial planning. Investing with Fidelity is easy; it offers financial planning tools, trade market news, and easy investing solutions.

Features to look for Fidelity

Pros of Fidelity

Cons of Fidelity

The ratings are:

2) E-Trade App

Suitable for beginners as well as experienced traders. With E-Trade, beginners can invest, save, and borrow with easy-to-use features.

Features of E-Trade

Pros of E-Trade

Cons of E-Trade

The Ratings of E-Trade

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3) SoFi Invest

Ideal for those who want low-interest loans and fee-free investments. Your finances are handled by SoFi Invest in one place. Invest your spare money autonomously with SoFi Invest, trade in cryptocurrencies, apply for a loan, and more, all at absolutely no management fees.

Top Features of SoFi Invest

Pros of SoFi Invest

Cons of SoFi Invest

SoFi Invest App Reviews

4) TD Ameritrade Investment Apps

Suitable for advanced traders. There are plenty of investment options, educational resources, and planning tools in the Ameritrade Investment Apps.

Top Features

The Pros

The cons

The Ratings

5) Robinhood App

Stocks and cryptocurrencies can be traded simultaneously with this platform. Today, Robinhood serves over 6 million Americans with its investing app. With Robinhood, there is no brokerage account minimum balance requirement.

Top Features of Robinhood App

Pros of Robinhood App

Cons of Robinhood App

The ratings are:

6) Acorns Application

For people who are saving-oriented, this is the best investment app. Beginners should check out Acorns if they want to learn how to invest. Integrated Robo-advisors will take care of maintaining your portfolio for you.

These are the top features:

The pros are:

The cons are:

The ratings are:

7) Ally Mobile App

Multiple trading options are best with this software. You can connect with the trade market anytime and from anywhere using Ally’s self-directed trading app. Starting an investment account does not require a minimum balance.

Ally Features:

Ally App Pros

Ally App Cons

The ratings are:

8) Betterment App

This is one of the best investing apps for long-term investors. A great investment app is Betterment. For a nominal fee, you can invest automatically, harvest tax losses, plan your retirement, and much more.

Features of Betterment App

Betterment App Pros

Betterment App Cons are

Betterment App Ratings

9) M1 Finance App

Loans granted at low-interest rates are best. Long-term investors use M1 finance to build wealth. As a self-directed investor, you can invest your money however you want, or you can use an automation tool that will rebalance your portfolio automatically.

M1 Finance App Features

The Pros of M1 Finance App

The Cons of M1 Finance App

The ratings are:

10) Stash Application

For fractional shares, this is the best option. An app called Stash makes investing easy for beginners, especially those based in the U.S. Any amount can be invested in fractional shares or ETFs.

Stash Features

The Pros of Stash

The Cons of Stash

Stash App Ratings

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11) Merrill Edge

The best investment for wealthy investors. It offers a self-directed investment platform and gives you suggestions for investing your money. Merrill Edge is a Bank of America company.

Top Features of Merrill Edge

Pros of Merrill Edge

The cons are:

Merrill Edge App Ratings are

12) Invstr App

Suitable for beginners or small investors. A great investment app for beginners is Invstr. A built-in advisor guides you as you build a portfolio with commission-free investing.

Invstr App Features

The Pros of Invstr App

The Cons of Invstr App

Ratings of Invstr App

13) Wealthfront

Investing and rebalancing money is automated for beginners. You can grow your wealth using Wealthfront by simplifying your finances. To help you make investment decisions, it has an inbuilt robo advisor.

Wealthfront Top Features

Wealthfront App Pros

Cons of Wealthfront

The ratings are:

14) Round

For investors with large wealth, this is the best option. The Round app is an excellent investment tool for sophisticated investors who have a lot of capital to invest.

These are the top features:

Pros of Round

Cons of Round

Ratings of Round

15) Webull

Suitable for advanced investors. With Webull, you will have the opportunity to invest in plenty of tradable items and have a diversified portfolio, as well as gain insight into market trends by using market analysis tools.

Webull App Top Features

Pros of Webull

Cons of Webull

Webull App Ratings

16. Fundrise Mobile App

In addition to real estate, you can diversify your portfolio through other investments. Investors of all levels can benefit from Fundrise’s low-fee model, including beginners and seasoned investors alike.

Fundrise Features

The Pros of Fundrise

Cons of Fundrise

Ratings of Fundrise

17. Stockpile Application

It takes just $5 to get started investing with Stockpile. Stocks can be purchased with a gift card for any amount, as well as fractional shares purchased with a dollar amount. No account fees, just 99 cents per trade, and you can choose from a variety of stocks and ETFs.

Features of Stockpile Application

The Pros of Stockpile Application

The Cons of Stockpile Application

Ratings of Stockpile Application

18. Public App

The public may be the app for you if you enjoy social media and want to get started with investing. The public allows beginners to purchase fractional shares of their favorite companies commission-free for any amount they choose.

These features include:

The pros

The cons

The ratings are:

19. Charles Schwab

If you’re a beginner who wants to learn about investing and put your knowledge into action, Schwab Mobile is the right choice for you. In addition to real-time news and a quarterly magazine, Schwab’s research offers expert quotations, research reports, and research reports.

These features include:

The pros

The cons

The ratings are:

20. Wealthbase

Overall, the best investment app. Wealthbase is among the most popular and largest robo-advisors. Using a selection of ETFs, the app offers you professionally managed portfolios based on your risk tolerance and when you need the money.

Top Features

The Pros

The Cons

The ratings are:

What are the Best Investments Options for Beginners?

invest money
You should be able to trade virtually any stock or ETF listed on a major U.S. exchange with the best investment app for beginners. The following are some of the additional investment options available to you.

1. Stocks

Stock options can be bought and sold through many trading apps. Beginners should generally avoid options. Before making a decision about whether they are right for you, you should understand how they work.

2. The Cryptocurrency

Cryptocurrencies like Bitcoin and Ethereum can be bought, sold, held, and even spent through some trading apps. Look for an investment app that offers cryptocurrency investing if you are interested in incorporating it into your strategy.

3. Shares Based on Fractions

Trading apps require you to purchase whole shares, which is technically stock and ETF investing. For beginning investors, you can buy fractional shares of stock. Fractional shares, for instance, can allow you to invest $1 in Amazon stock if it’s trading at $3,000 per share.

4. Investing in Mutual Funds

Investing in a mutual fund over the long term can be a great strategy for reducing the risk of relying on individual stocks too much. Mutual funds are not offered by many trading apps. Investing in these is great for buy-and-hold investors, but make sure your app supports them.

5. The Future

Some trading apps offer futures, which are similar to options. You should be sure you understand what you’re doing before investing in futures, just as you would with options.

6. The Forex Market

A trading app that allows foreign currency trading is known as a forex app. Forex stands for “foreign exchange trading.”.

7. Bond

A bond is also referred to as a fixed-income investment. The ability to buy and sell individual bonds is offered by some trading apps (especially those offered by major brokerages).

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Types of Fees Charged by Investment Apps

In other words, you won’t have to pay anything for occasional stock purchases and sales if you use the best stock trading apps. Account opening should be free, maintenance fees should be waived, and app-based trades should be free as well.

However, depending on your investment strategy, you may incur fees. Check out these to keep an eye on.

Fees for Options

Today, it is common to trade stocks for free. While options trading is usually free (in our top picks, there are a few exceptions), it is not free in most cases. Commissions on options trading vary, but they typically range between $0.50 and $1 per contract.

Fees Associated with Cryptocurrency

The fee structures for cryptocurrency trades can be complex in most cases. Some don’t charge a “fee” at all, but rather profit from a spread between the price they will pay to buy and sell a particular cryptocurrency. For some trades, there is a flat fee. The amount of trade is sometimes charged as a percentage. Often, these fees are combined.

Fees for ETFs

The majority of exchange-traded funds, or ETFs, are commission-free, but there are still fees associated with them. The expense ratio is the ratio of the management fee to the assets of an ETF. You pay $2.50 in annual investment fees for every $1,000 you invest if you have a 0.25% expense ratio. The share price reflects this, so you don’t pay it directly.

Fees for Advisory Services

The fees you might have to pay if you choose to use a robo-advisor are divided into two categories. The fees charged by robo-advisors are typically based on the number of assets under management. There may be a flat monthly fee charged by some.

Services of the Highest Quality

The basic aspects of some trading apps are free, but there are add-on services that require a subscription. A great example is Robinhood. It is free to trade stocks (and even options). The premium-tier service is required if you wish to access margin privileges or stock research reports.

If you are looking for the right investment, consider the fees you will have to pay and the features that are most important to you. You can then select the stock app for beginners that is best suited to your specific needs based on that information.

How Much Does it Cost to Develop an Investment App?

Mobile app development services with a simple interface and basic features would cost you around $5000-$10,000.

An app developer’s hourly rate and the length of time it takes to construct the app determine the price. App design costs are also included in most of these costs.

Type of Application Time for Development The Cost
App with a simple interface Between 40 and 160 hours Amounts between $5000-$10,000
Design of medium-sized apps Between 150 and 350 hours Between $7000-$12,000
Design of complex apps Between 600 and 1000 hours Between $10,000-$25,000

Conclusion

Money is being invested by more and more people today. Apps for investing are becoming more popular every day.

There is a growing demand for tools to help people invest their hard-earned money and increase their wealth, even if they have no or little knowledge of the investing market.

As a result of our extensive study of the best beginner investing apps, we are able to suggest Fidelity, SoFi Invest, TD Ameritrade, E-Trade, Robinhood, Merrill Edge, and Stash as the best investment apps.

It can be very beneficial for beginners to use automated investing services through robo advisors or through specialists with access to educational resources. For more information connect with Ninehertz.

Frequently Asked Questions

Q.1 How Effective are the Best Investing Apps?

You can learn and invest with investment apps, but keep them in mind that they are just tools. Using Stash or Acorns, for example, you’ll have a hard time building any wealth if you round up to a dollar. Robinhood and Stockpile are great places to learn how to invest.

Q.2 With as Little as $1, How Can I start Investing?

As little as $1 can be invested in fractional shares through investment apps like Robinhood and M1 Finance.

Q.3 Active Trading Apps: Are they Good or Bad?

The best beginner investing apps offer trading in the types of assets you are interested in, but you should pick one that offers it. You can trade stocks, ETFs, cryptocurrencies (at Robinhood) and options at low costs with Robinhood, Fidelity or Charles Schwab, which offer low-cost trading.

Hemendra Singh

My name is Hemendra Singh. I am a Director and Co-founder of The NineHertz, IT Consulting Company. I am having a keen interest in the latest trends and technologies that are emerging in different domains. Being an entrepreneur in the field of the IT sector, it becomes my responsibility to aid my audience with the knowledge of the latest trends in the market.