Investing can be the very difference between the number of 0’s in your bank account. Ensure you get a head start.
So, you want to get started with investing. It might seem like an impossible feat, but I assure you, it’s not. In this list you can see which investment app may be best for you.
So, without further ado, let’s get started.
Top 8 Best Investment Apps For Beginners
- Acorns – Best for beginner investors, looking for a simple option.
- Stash – This is great for those just getting started into the stock market, and wanting a safe, easy option.
- Robinhood – Best for those who have done research, but haven’t yet started with investing yet.
- TD Ameritrade – Great for both those new to investing and those who are at an intermediate level.
- Stockpile – Best for those new to investing and in need of saving tips.
- Sofi – Great for new investors who want to save money.
- E Trade – This is a great platform for people with no experience in investment.
- Public – Best for those just introduced to the stock market and investing.
1. Acorns – Best for beginner investors, looking for a simple option.
The Pricing of Acorns:
- Lite: $1.00 per month.
- Personal: $3.00 per month.
- Family: $5.00 per month.
Acorns is a platform devoted towards investing, banking, earning, and education. They have several subdivisions detailing what exactly you’re saving for, including retirement funds, kids college fund, you name it. Acorns also provides a debit card that saves and invests money for you. They offer resources in which you can learn the basics of finance and how to start gaining money.
| Pro | Con |
| Acorns automatically invests any spare change that you may have. | There is a 12% fee. For users who are extremely short on cash, this can be a very bad thing. |
| Very reasonable and affordable rates, on all 3 price options. | If you want quick money saving instantly, this is not the app for you. Do not expect to be saving extremely high amounts of money in days. |
| They have many options on who or what you may want to save and invest for. For example, you can open an account for your retirement or your children’s college. | |
| Acorn provides educational content, such as lessons on saving and investing your money. |
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2. Stash – This is great for those just getting started in investing, and wanting a safe, easy option.
The Pricing of Stash:
- Stash Beginner: $1.00 per month.
- Stash Growth: $3.00 per month.
- Stash +: $9.00 per month.
Stash offers several features to their thousands of clients. Some of these resources are a smart portfolio, Stock-Back card, insurance, stock party, learning center, stash support, etc. They provide investing tools such as fractional shares, no add-on fees, recommended help from professionals, automatic invest deposits, the ability to invest for your children or retirement.
| Pro | Con |
| Stash gives you lots of benefits for the short amount of money paid. | You have to pay mandatory ETF expenses and funds. |
| They are a great program for those who are just initially getting into investing due to their easygoing and custom features. | There is an initial subscription fee that you have to pay. |
| Stash provides amazing customer service. If you have any questions or inquiries at all, they will answer it quickly and efficiently. This is great for new investors, who are unsure of some factors. | |
| Stash offers smart portfolios with multiple features, including automatic rebalancing , suggestive notifications, and more. | |
| Stash prides themselves on your security. They ensure your information is 100% safe. |
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3. Robinhood – Best for those who have done research, but haven’t yet started with investing yet.
The Pricing of Robinhood: Robinhood is commission free, however, there are a few fees that you need to pay whilst investing with Robinhood. To learn more about this, please talk with a Robinhood representative.
Robinhood offers several different features to their clients worldwide. They offer stocks, funds, cash management tools, cryptocurrency, and more. They also offer lessons for those who are new to investing. These lessons start at the basics of investing and how to start saving your money from a beginner standpoint. A good thing about Robinhood is that you need no minimum balance amount.
| Pro | Con |
| There is no minimum requirement needed for your investments. | They have a hefty history of lawsuits for numerous wrongdoings. One even resulted in the company losing tens of millions of dollars. |
| Robinhood is great mobily, as they have a downloadable app that is very simple to use. | Many users do not feel safe or secure while using this platform. |
| They provide trade in realtime. This feature is loved by clients. | The customer support is, frankly, not good. Clients report not having their questions answered timely or efficiently. |
| There are no stock trading costs or fees with Robinhood. | |
| Robinhood offers their clients fractional shares. | |
| They provide many lessons and videos to introduce interesting facts to those new to investments and money saving. |
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4. TD Ameritrade – Great for both those new to investing and those who are at an intermediate level.
The Pricing of TD Ameritrade:
- Stocks
- Online: Free
- Interactive Voice Response Phone System: $5.00
- Broker-Assisted: $25.00
- ETFs
- Commission Free ETFs: Free
- Online: Free
- Interactive Voice Response Phone System: $5.00
- Broker-Assisted: $25.00
- Mutual Funds
- No Transaction Fee: No commission.
- No Load: $49.99
- Load: No commission.
- Options
- Online: Free ($0.65 fee per contract)
- Options exercises and assignments: Free
- Interactive Voice Response Phone System: $5.00 ($0.65 fee per contract)
- Broker-Assisted: $25.00 ($0.65 fee per contract)
- Futures:
- Futures & Options on Futures: $2.25 fee per contract (plus exchange & regulatory fees)
TD Ameritrade provides several different features and tools for their wide variety of clientele. They offer web platforms, desktop applications and downloads, ThinkOrSwim web and desktop, mobile trading, trader offering, investing platforms, 24/5 trading, and more. They provide customer service via a live chat. This is beneficial as if you have any questions, experts will try their best to aid you.
| Pro | Con |
| They provide excellent education and research platforms. This is great for those who do not know much about investments. | They do not offer any fractional shares on this platform. |
| They offer very affordable prices. ETFs, stock, and option trades are commission-free. | This platform is much more than investments. If you are looking for a site that solely focuses on investment, this would not be a good fit for you. |
| TD Ameritrade offers several different (yet all beneficial and useful) trading spaces. | This site can be confusing, especially to those new to investment applications. |
| You can integrate with other platforms with TD Ameritrade. | |
| The ability to create predefined call strategies. | |
| The customer support is excellent. If you have any problem or inquiry, an employee will try to remedy it immediately. | |
| You can use this platform for both small and large investments. |
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5. Stockpile – Best for those new to investing and in need of saving tips.
The Pricing of Stockpile: There are no trading fees, however there are a few fees for individual services. It is advised you look on the official Stockpile website to see if you qualify for those.
Stockpile offers several unique features that several people love. For starters, they have a “Beginner’s Guide” that takes you through the stock market, the different types of investments, how to develop your first investment plan, etc. Newbies to saving love how simplistic and straightforward this is. Besides this, they also provide gift cards, redeemable gifts, and great customer service.
| Pro | Con |
| Stockpile offers fractional shares, which is a huge plus. | This is only available in the United States of America. |
| New investors get to learn an extensive history of the importance of stock and saving. | A few former clients say that this website is a scam. |
| You get to buy the exact amount of stocks you want in dollar currency, not shares. | They do not allow investing on auto-pilot in this application. |
| The platform has several useful features and resources. | You can not customize as much as you can with competitors. |
| Stockpile is very simplistic to use and navigate. | |
| The layout is very visually appealing and easy to read. | |
| You have the ability to gift stocks with Stockpile. | |
| This makes learning about investing entertaining. This Is great for teens interested in stock. |
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6. SoFi – Great for new investors who want to save money.
The Pricing of SoFi: SoFi does not disclose their pricing. If you have any specific questions on pricing, please contact SoFi support.
SoFi provides several features to all of their clients. Some of these features include IPO investing, active investing, automated investing, retirement accounts, cryptocurrency, and fractional shares. They also offer products such as student loan refinancing, private student loans, personal loans, home loans, SoFi Invest, SoFi Credit Card, SoFi protect (insurance), and small business financing.
| Pro | Con |
| SoFi is extremely fairly priced and affordable for essentially anyone. | Competitors offer more products to buy. In comparison, SoFi has a small collection of products and features. |
| Opening an account or signing up is extremely easy and a simplistic process. | This is not a great platform to learn and receive education about stocks and investments. |
| They have an excellent and vast trading platform. | |
| SoFi’s customer service is excellent. If you have any question at all, they will answer it as soon as possible. |
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7. E Trade – This is a great platform for people with no experience in investment.
The Pricing of E Trade:
- Stocks, options, and ETFs: $0.00
- Options Contracts: $0.65
- Futures Contracts: $1.50
- Bonds: $1.00 per bond
E Trade provides several features, tools and tricks to their clients. Some of the resources you get with E Trade are stocks, mutual funds, ETFs, Future Bonds, CDs, prebuilt portfolios, intriguing lessons on investing basics, advanced trading, retirement planning, tax planning, events, and more. E trade has several features and benefits to it for a relatively good price.
| Pro | Con |
| The interface is extremely easy to use and navigate. | For beginners, this website can be challenging to find all of the extensions and tools. |
| E Trade has a downloadable mobile app that is very easy to use. | Some features are “hidden” within lots of clicks. A few key items are not easy to reach. |
| The customer service is great. If you have any problem or inquiry, they will remedy it as soon as they can. | |
| You can invest any large or small amount of money you want. | |
| They have education and research tools.This is great for those who don’t know much about investments and the stock market. |
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8. Public – Best for those just introduced to the stock market and investing.
The Pricing of Public: Prices are not disclosed. Please contact a Public representative if you have any inquiries or questions.
Public offers several unique resources to their clients. This is a perfect platform for those who are new to marketing and investing. They have an easily readable interface with several areas in which you can learn about stocks and everything in relation to them. They also offer a mobile app, a stocks directory, investing themes, top movers, and stock trends. Thousands of people who are new to investing have tried this program.
| Pro | Con |
| It is available on a downloadable mobile app. This is great for younger audiences as they are more adjusted to phones than computers. | People who are not tech savvy may struggle with this. |
| The user interface is very visually pleasing and aesthetic. | You can only manage, create, or edit your account if you have an Apple or Android, and have therefore downloaded the app. |
| You can build and customize your own portfolio. | You are limited on the amount of investments that you can make. |
| They have many lessons available in which you can learn about stocks before you begin investing. | Some users do not like the fact that you can only access it from a phone, not a computer. |
| Used and trusted all over the world, in several countries. | |
| They have several resources at your disposal. |