Investing money is a common piece of advice that many people receive throughout their lives. However, it isn’t quite as simple as just investing. There is a bit of a learning curve that any investment-minded rookie must overcome before they truly know what they’re doing.
With enough time, patience, and dedication, you can become a knowledgeable expert in investments, but everyone has to start somewhere. Fortunately, there are quite a few exceptional investment apps that can help a beginner start off strong and only improve from there.
Let’s take a look at a few of these terrific apps for someone starting their adventure into the world of investments. Here is a list of the best investment apps for beginners:
The best investment app for beginners who are serious about learning to invest
A fair majority of people are familiar with the story of Robin Hood, the generous thief who stole from the rich and powerful at the benefit of the poor and weak. In the same spirit as the thief of legend, this handy app allows any investor to trade stocks without a fee.
This means that any investor is only putting funds at risk that they are positive they can lose, without having to calculate for various fees along the way. As you can imagine, this would be a valuable tool for anyone new to the trade looking to try their hand at a lower risk.
The app is available to download for free, and offers an upgrade to Robinhood Gold for a fee. Robinhood Gold offers extended trading hours and margin accounts for anyone who realizes they have a knack for this type of process.
- Price: Free, with a paid upgrade to Robinhood Gold
- Official Website: https://robinhood.com/
The best investment app for beginners who know nothing about investing
As everyone has to start somewhere, everyone also needs a teacher, as well. While the Stash app doesn’t give you a fully fledged lesson in investing, it does give you plenty of helpful recommendations that help you find your way through those first awkward moments of investing.
These recommendations are based on a variety of factors that are included in a profile that you fill out upon signing up. The factors in question include things like low fees, managed risks, and historical performance.
The app is free to use for the first month, and then $1 per month for invest accounts, and $2 per month for retire accounts. Naturally, a flat fee of 0.25% per year is tossed in once your account reaches the $5,000 mark. The Stash app allows you to invest with as little as $5, and offers ETFs that are arranged in a simple, accessible way so you can find the companies that you are familiar with and understand the most.
Due to these many helpful features and low cost, this is one of the best investment apps for beginners looking to find a good investment starting place.
- Price: Free for the first month, $1-2 every month + 0.25% yearly flat fee after $5000
- Official Website: https://www.stashinvest.com/
The best investment app for beginners who want to dabble in investing
Many of the best investment apps for beginners give you a simplified view of investing. However, some of the lesser apps typically fail to teach you much about the actual process of investment. There are other apps that are simply hands-free trading, which doesn’t teach you a single thing, unfortunately.
This is where the Firstrade app comes into play. This investment app accepts customers from around the world, however you will only be able to trade securities that are listed on US exchanges, therefore companies found on the London or Tokyo Stock Exchanges are not available to Firstrade users.
However, the investment app is excellent for learning and teaching beginners how to properly go about investing. You will have access to a wealth of educational resources, such as Morningstar stock reports, Briefing.com’s newsletters, as well as a fully extensive library of video training content that has been crafted and hand-picked by trading experts.
These resources aim to teach you the basics of investing while you try your hand at the trade, itself.
- Price: Free for download
- Official Website: https://www.firstrade.com/
The best investment app for beginners who want the full investing experience
While learning about investing is a very wise and recommended choice, there are plenty of people out there who want a more hands-free investment option. Acorns is a great app for those who would rather not get too close to investing, but would still like a little of the benefits from it.
By linking a debit or credit card to Acorns, the app will round up your transactions to the next dollar, and invest the extra funds from that in your name. Said funds are automatically invested into one of five professionally managed ETF portfolios.
Of course, the benefits of doing this will become apparent in time. Just know it will not be as quick or profitable as doing it your self. The safety of trading this way will be more appealing to many people, though. The fee for this service is only $1 per month on accounts containing funds of up to $5,000, and accounts exceeding that amount will be subject to a fee of 0.25%.
College students with a .edu email address will receive free access to Acorns for up to four years from the date of registration. Acorns offers a small-risk, small-reward alternative to investing, but the smallest of amounts can become pretty significant with time and patience.
- Price: $1 per month + 0.25% fee after $5000
- Official Website: https://www.acorns.com/