Best Investing Apps For Beginners

Best Investing Apps For Beginners 2022

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Best Investing Apps For Beginners

Want to get started with investing, but have zero experience? Did you know that there is a mobile app that invests your spare change for you? There are also several user-friendly mobile apps that make learning how to buy and trade stocks a breeze.

Here is our guide to investing apps for beginners. 

Best Investing Apps for Beginners 2021

What is the best investing app for beginners? Here are a few factors to consider:

  • How much do you want to initially invest
  • Do you want to trade stocks 
  • Are there special promotions going on 
  • What level of knowledge on investing you have 
  • What fees does the investing app charge

The best investing apps for beginners make it easy to navigate the complicated world of stocks and bonds.

When you are just getting started with investing you probably will not want to make a large deposit into an investment account until you are sure you know what you are doing.

Using a beginner app for investing with a low minimum account balance is a good way to learn about investing without risk. 

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Stock Investing Apps for Beginners

These are the best stocks apps for beginners and their features:

Robinhood

Robinhood 

What Is Robinhood?

Robinhood is one of the most popular stock investing apps in 2021. They have some great features and promotions that new investors really like. 

Features:

  • One free stock (valued up to $250) with the creation of a new account
  • One free stock for you and a friend every time somebody uses your link to sign up 
  • No commission or trading fees
  • Easy to use mobile app 
  • Trade stocks, cryptocurrencies, and ETFs
  • Now offers long term investing strategies 
  • Minimum account balance of $0

What’s the catch?

There are just a few downsides to using Robinhood for investing. They do not have a lot of long term investing options. They do not offer retirement planning and you can’t purchase mutual funds or bonds with Robinhood. 

Webull

Webull 

What Is Webull?

Webull is similar to Robinhood in that it does not charge any commission fees or trading fees. While Robinhood requires a $10 deposit to get one free stock, Webull will give you two free stocks if you deposit $100 into a new trading account.

Here are the features of Webull:

Features:

  • No commission fees or trading fees
  • Get up to four free stocks with a new account 
  • Invite friends to get more free stocks 
  • Cryptocurrency trading 
  • Streamlined application 
  • Has advanced trading tools 
  • Now offering fractional shares

What’s the catch?

The Webull app has low costs and an easy-to-use platform, but they are lacking in educational tools. 

Acorns

Acorns 

What Is Acorns?

Acorns is an app that takes your spare change from purchases and invests it for you automatically. This is one of the easiest ways to start investing with hardly any effort on your part.

It is similar to having a piggy bank, except the piggy bank takes your coins and turns them into more coins!

Features:

  • Completely automatic investing 
  • Easy to use 
  • Affordable
  • Low fees
  • Automatic savings tool
  • No minimum balance 
  • $10 sign up bonus 
  • Takes the work out of saving with automation 

What’s the catch?

The Acorns app charges about $5 in fees each month. If your investing balance is very low, this may be a comparatively high fee to pay. The larger the account balance the more inexpensive the fee is. 

SoFi

SoFi

What Is SoFi?

SoFi Active Investing is a trading platform geared towards young investors. You can trade stocks, ETFs, and cryptocurrencies through SoFi. They do not charge commissions. 

Features:

  • No commission fees or trading fees 
  • No minimum account balance 
  • Trade cryptocurrencies 
  • Free investment counseling
  • Streamlined mobile app performance 

What’s the catch?

SoFi is a new service so they are not as established as some of the other applications. They do not offer mutual funds or bonds. Geared more towards young investors than retirement planning. The selection of tradable securities is fairly small. 

Stash

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Stash

Stash is an app for beginner investors that makes investing easy and accessible. You can get up to $500 in cash credit by making a qualifying deposit into a new account. 

Features:

  • Provides guidance on where to invest wisely 
  • Not an automatic service “robo-advisor”
  • Low fees as little as $1 a month 
  • Has over 3,000 ETFs and stocks to pick from 
  • Portfolio builder 

What’s the catch?

Stash has higher fees than some of its competitors. There is no account management, human advisors, or strategy advisors with Stash. 

Best Investment Apps For Beginners

Best Online Investing Apps for Beginners

These stock investing apps for beginners make stock trading more accessible to beginner investors. They have easy-to-use platforms and low minimum balances. 

Here are a few more of the top investing apps for beginners that we want to give an honorable mention to:

  • Merrill – A Bank of America Company
  • E*TRADE 
  • ZacksTrade
  • Charles Schwab 
  • Ally Invest 
  • You Invest by J.P Morgan
  • Fidelity 
  • TD Ameritrade
  • Public App
  • Betterment

All of these trading apps charge $0 in commission fees on trades. 

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Tips for Beginner Investors 

Now that you know what the best investing apps for beginners are you are ready to get started.

Here are a few tips that beginner investors should know. 

  1. Take advantage of promotional deals to get free stocks. 
  2. A lot of apps will give you financial rewards for inviting friends to the app. 
  3. Pay attention to fees and weigh the pros and cons. 
  4. Focus your efforts on education and learning at first. 
  5. Automate as much of the work as possible. 

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Low-Risk vs. High-Risk Investment 

Low-risk investments usually deliver slower earnings than high-risk investments. With a high-risk investment, there is also a possibility of a high payout.

Low-risk investment with slow earnings includes investing in things like gold and real estate, which are likely always going to be steadily increasing in value. A high-risk investment would be something like investing in a start-up company that developed a new product that the market has not reacted to yet. 

If you are one of the first investors in that new company you can make large profits fast when the product takes off. If the company fails, however, you will likely see no return on your investment. 

The higher the risk, the higher the payout. For new investors, stick to low-risk investments until you get the hang of how investing works. 

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