Five Top Investing Apps for Beginners
Investing can seem scary and confusing when you first begin, but the right tools can make it easier. A great first step to investing is finding the right app for you and your needs. Here are some of our favorite investing apps for beginners.
If you are looking for one of the easiest ways to begin investing, check out the app Acorns. With this app, you can put money directly into your account, and choose the risk level you want. You even have the option to do what Acorns calls, “Roundups.” This means that every purchase you make, Acorns rounds up to the dollar and puts that change into your Acorns account. This money is then invested with Acorns.
Not only is this app’s interface easy to use, but you don’t have to worry about how to invest since they do it for you. This is what makes this app such a great option for beginners. However, this can also be seen as a disadvantage since you are unable to choose what you want to invest in.
Publics is a unique and fun investment app that integrates the social aspect into investing. With Publics, you are able to see what others are investing in. This allows you to take the advice of people you trust and use it to decide how you want to invest. Publics lets you create a customized portfolio that is unique to you.
A disadvantage of Publics is that they lack a lot of investment account options. Therefore, you will have to find another app for those.
Publics is great for beginner investors and long-term investors who want to keep their investments in the stock market for a while.
- M1 Finance
M1 Finance is another great app that is not only good for investing but also fun to use. In this app, you are able to create a pie chart of what you want to invest in. This might include stocks, bonds, EFTs, etc…
If you are not wanting to customize your pie chart, you can also choose from one of M1 Finance’s premade pies charts.
One disadvantage of this app is that you are only able to make trades at certain times of the day. One time you can trade is before 9:30am when the stock market opens, and the other time is before 4pm when it closes. You are only allowed to make one trade before 9:30am unless you pay for a $125 per year subscription.
With all the restrictions, M1 Finance is still a great app for those who don’t need a lot of hand holding, but can also be great for beginners as well.
WeBull is another great app that has one of the best interfaces. This app offers a clean look and feel while also providing you a lot of data to analyze your investments.
WeBull offers a great option for experienced investors because they have so many features. However, some disadvantages of WeBull are that you cannot invest with BitCoin and you can only invest in a limited amount of things. Also, it does not allow you to automate any of your investments like Acorns does with its “roundup” service.
Fidelity is one of the oldest and most popular investment apps to date. They offer the most features and classes that teach you how to become a better investor. Fidelity offers nearly every type of asset class to help as well.
Along with many features, they also offer a wide variety of investment accounts options. They have an easy to use interface, and they have one of the highest rated mobile apps. Fidelity also has some of the best customer service around.