People who are into trading are always trying to stay ahead in life. Why? Because you cannot just depend on yourself to make money. Your money should also make money for you. That is when a stock investment becomes a viable option.
But, when it comes to investing in stocks, you need the best app that meets all of your requirements. So which are the best investment apps? If you want to find out, you should follow me throughout this article.
10 Best Investment Apps
Here are some of the best investment apps for beginners and pro investors.
If you are a beginner investor and want to start your journey, then you can start with Plynk. The app offers you a $110 bonus – a good reason to start your trading journey with. You can invest and learn about the stock market along the way. Starting from stocks, mutual funds, and ETFs, you get to learn a lot about the world of investment through this app. They also offer guidance and lessons on stock investment, making you an experienced investor in no time. Also, you can start investing with as little as $1.
After landing in 2018, Webull, as a stock investment app, started to compete against Robinhood in market share. You can avail of commission-free trading features on stocks and on, ETFs, and cryptocurrencies. They also offer you potent tools to help you with in-depth trading analysis. You can open an account and deposit $5 and receive 12 free stocks.
Public.com, a trading app that targets mainly gen z and the millennials, also offers commission-free trading options. This is among the best trading apps for retail stock investments. They also have a social feed for the users to convey their reasons for relying on a specific company. A positive side of this app is its PFOF. But you may not want to use this app for the limited number of options when it comes to investment.
Moomoo differs from other trading apps in its approach to simplicity. While other trading apps try to keep it clean and simple, Moomoo tries to make it more advanced. Yes, this platform unifies both experienced and new traders. They have easy research and AI tool to help the traders. The real-time market data available on the app should be helpful for many traders. As a special promotion, traders get a $10 bonus along with 15 free stocks.
Robinhood was the first trading app to make trading completely commission-free by slashing the commission fee to $0. By doing so, Robinhood became a trendsetter which other apps in the market were forced to follow. The app offers commission-free trades on ETFs and cryptocurrencies. The app interface is intuitive, and you have both desktop access. You can surely consider Robinhood as one of the best trading apps.
If you are looking for the best trading apps, then SoFi would be worth recommending the app. One fun thing about the SoFi app is that you can use it on Apple iOS, desktop, or on your android devices. This app does not require any commission fees or account minimums for you to get started. They also have automated investment options for a hands-off approach. Having no Robo-advisor functionality might be a negative point for some users of this trading app.
When it comes to the best trading apps for learning financial literacy, you can rely on Acorns. It is an investment app best for those who want to start small and grow as an investor through lessons and experiences. As time grows, you can transform your Acorn profile into a large investment portfolio. But you have to subscribe to any of their two different trading plans – Acorns Personal ( $3/mo) and Acorns Family ($5/mo). Unlike SoFi, Acorns have its Robo advisor to help you.
8. M1 Finance
You can use the M1 Finance trading app with your iOS device or from your desktop. You can completely automate your investment portfolio with the M1 Finance trading app. It automatically rebalances the portfolio in line with the stated asset allocation targets. You get three months of free M1 Plus membership. Also, you get cashback offers. It is one of the best trading apps, although you want to skip it due to the limited options for trading.
Suppose you are looking for an all-in-one personal finance app that comes paired with different trading options. You can both automate your investment and handpick stocks for investing. Also, if you are a beginner and under the age of 18, they offer custodial accounts. So, you can get into trading as early as possible. If you sign up and create a $5 deposit, the app will offer you a $5 sign-up bonus in return. Many investors love the fractional share option of the trading app. But, you may not like the monthly fee system of Stash.
Betterment is also one of the best trading apps. This app offers a great opportunity for new investors wanting to diversify their stock portfolio. Also, you get different advanced tools, guidance, and support to grow into an expert in investment. You can start trading at as low as $10. You will also love the low-cost investment option.
Frequently Asked Questions
Here are some popular questions new investors usually ask on the internet. If you are looking for investment apps, you will find the answers to these questions helpful –
There are many safe trading apps available. Merrill Edge is considered the safest by many pro investors. You can also use Acorns; it is great for saving and investing at the same time. If you are a beginner, you can start with E*Trade.
Are you a beginner investor? In that case, these tips could help you.
Start your investment journey as early as possible.
Make your investment budget.
Open your investment account.
Learn and pick up your investment strategy.
Understand your options for investment.
The money you invest through an investment app is just as safe as investing through any brokerage firm. If the brokerage firm goes under, your money gets insured by SIPC. It covers you for up to $500,000 in investments
So, these were the best investment apps you were looking for. If you are starting your investment journey, you can use any of these apps. Most of them are effective and safe. You can check them out.
Did you find this article helpful? Please share your insight on the investment apps in the comments.