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best investing apps for beginners

The 13 Best Investing Apps for Beginners in 2022

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When it comes to taking control of your finances, investing is one way to diversify your income and grow your wealth. Modern-day technology is making investing for beginners easier than ever by putting investment tools in the palm of your hand. Nowadays, you’ll find beginner investing apps are a common resource you can use to learn how to manage your portfolio and build a secure financial future.

To help you narrow down which app is right for you, we compiled the 13 best investment apps for beginners that help you diversify your portfolio and learn as you go, including:

Your savings won’t know what hit it once you figure out which app is right for you.  

An illustration accompanies an eye-opening quote to nudge people to learn about some of the best investing apps for beginners.

1. SoFi Invest

Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 4.2 out of 5 stars

As one of the top investing apps in the Apple Store, SoFi Invest is made for all experience levels. Beginners can easily opt for automated investing and let SoFi’s investors build your wealth for you. For the more hands-on beginner, you also have the freedom to diversify your own portfolio by choosing from crypto, stocks, or exchange-traded funds (ETFs). 

Features:

  • Fees: None
  • Commissions: None
  • Minimum balance: None
Pros Cons
User-friendly platformLimited investment options
Affordable trading
Fractional share options
No-cost financial planning

2. Betterment

Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.6 out of 5 stars

If you want a beginner investing app designed to help you reach your goals, start out with Betterment. This app is great for beginners because it takes care of everything, including managing your money, investing it, trading, and rebalancing your portfolio. The only caveat is that Betterment does it all for you if you’re willing to spend a little extra, offering two investing plans for you to choose from.

Features:

  • Fees: Annual fees of 0.25 percent or 0.4 percent of your balance, various fund fees
  • Commissions: None
  • Minimum balance: None for Digital, $100,000 for Premium
Pros Cons
Hands-off investingAnnual fees for advising (high with large balances)
Goal-oriented platformHigh minimum balance for Premium plan

3. Fundrise

Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 4.4 out of 5 stars

Another way to diversify your portfolio is through real estate. Fundrise’s unique low-fee model changes the real estate investing game and opens up the opportunity to beginner and savvy investors alike. In just a few minutes, you can create an account with a low investment minimum, select your preferred investing strategy, and sit back as Fundrise diversifies your portfolio for you.

Features:

  • Fees:
    • 0.15 percent annual advisory fee
    • 0.85 percent annual asset management fee for standard portfolios
  • Commissions: None
  • Minimum balance:
Pros Cons
Low fees and balance minimumNot good for short-term investing
Open to non-accredited investorsInvestments are not liquid
90-day guarantee
Two-factor authentication and biometric security

4. Charles Schwab

Apple Store Rating: 4.8 out of 5 stars | Google Play Rating: 3.8 out of 5 stars

Investing with Schwab Mobile is a great option for beginners who want to learn and put their knowledge to use. Schwab’s free and expansive research offerings include real-time news, a quarterly magazine, research reports, and expert quotations. As you level up your skills, you can use the mobile app to trade and monitor your positions at all hours, as well as customize your investing experience with alerts, summaries, and notifications. 

Features:

  • Fees: None
  • Commissions: None
  • Minimum balance: None
Pros Cons
Large investment selectionSmall cash sweep rate for uninvested funds
Ample research offerings
No fees or minimums
Biometric security
An illustration accompanies an eye-opening quote to nudge people to learn about some of the best investing apps for beginners.

5. Acorns

Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.5 out of 5 stars

Acorns makes investing with whatever you have easy by automatically investing your spare change. Users can set up an account in less than five minutes and begin automating micro-investments at price plans of $1 (Lite), $3 (Personal), or $5 (Family) per month. Investors at any level can avoid constantly thinking about their investments or managing them, as there’s a team of advisers there for support if you ever need them.

Features:

  • Fees: $1 to $5 per month
  • Commissions: None
  • Minimum balance: None to open, $5 to invest
Pros Cons
Invests spare change from purchases automaticallyHigh monthly fees compared to low account balances
Built-in robo-advisersSmall portfolio
Educational and investing supportCan’t build your own portfolio
Cash back at select retailers

6. Stash

Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.1 out of 5 stars

Stash is focused on simplifying investing for regular people. You can start investing in fractional shares through one of Stash’s three monthly subscription plans. They also offer a great learning center with built-out posts to teach you about investing and keep you up to date on money news. 

Features:

  • Fees: $1 to $9 per month
  • Commissions: None for trading
  • Minimum balance: None for Personal Portfolio (only capitalized if it’s the name of the portfolio in the app)
Pros Cons
Educational resourcesMonthly fees can be high compared to a low account balance
Personalized investment adviceOnly four trading windows*
Automated investing

7. Stockpile

Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.3 out of 5 stars

Stockpile allows beginners to start investing with as little as $5. Its trading platform lets you purchase fractional shares in any dollar amount or gift stock ownership for any amount with a gift card. You can choose from a variety of stocks and ETFs, and with no account fees, you just pay the small commission of 99 cents per trade. 

Features:

  • Fees: None
  • Commissions: 99 cents per trade
  • Minimum balance: None
Pros Cons
Redeemable stock gift cardsNo real-time trading
Fractional sharesCommission on every trade
Educational resources
An illustration accompanies an eye-opening quote to nudge people to learn about some of the best investing apps for beginners.

8. Public

Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.4 out of 5 stars

If you love social media and are looking to get into investing, Public may be the app for you. Public allows beginners to buy fractional shares of their favorite companies for any amount of money you choose, commission-free. And with the ability to follow other investors on the app, you can see what everyone else is investing in, learn from them, participate in group messages, and share your own experiences.

Features:

  • Fees: None
  • Commissions: None
  • Minimum balance: None
Pros Cons
Social componentSmall investment selection
Fractional shares
No fees or commissions
Referral program

9. Invstr

Apple Store Rating: 4.6 out of 5 stars | Google Play Rating: 4 out of 5 stars

Invstr is one of the best apps to learn about investing. Beginners can practice investing before doing it with real money using the Invstr app. You simply download the free app and get started by learning lessons from Invstr Academy. After gaining experience and some confidence, you can start investing in fractional shares with as little as $1.

Features:

  • Fees: Up to $3.99 per month, withdrawal and deposit fees
  • Commissions: $2.99 per full trade, 99 cents per fractional trade
  • Minimum balance: None, but $25,000 to day trade
Pros Cons
Practice investing without risking your moneyLimited amount of trades per day (unlimited with subscription)
Educational resourcesCan only invest in U.S. stocks
Large investing communityLots of fees
Portfolio and performance insights

10. M1 Finance

Apple Store Rating: 4.7 out of 5 stars | Google Play Rating: 4.5 out of 5 stars

M1 Finance is an investing platform that offers a lot of flexibility for beginners. You can choose from premade expert portfolios or cultivate your own investment strategy by building a customized portfolio for free. You can enjoy the flexibility of this app for free, but beware of other miscellaneous fees and a $100 minimum account balance before you get started.

Features:

  • Fees: No annual or monthly fees, but a $20 inactivity fee and others
  • Commissions: None
  • Minimum balance: $100 to $500
Pros Cons
Customizability$100 minimum account balance
Automated investingInactivity fee
Fractional sharesMorning trading window only for free accounts

11. TD Ameritrade

Apple Store Rating: 4.5 out of 5 stars | Google Play Rating: 3.6 out of 5 stars

This award-winning trading platform is a good mobile investing option for beginners and active traders alike. With no account minimums and no commissions, beginners can easily get started and quickly level up their learning with how-to videos. The TD Ameritrade app also offers free research in the form of market trend reports, charts, and updates accessible via phone, tablet, or even Apple Watch. 

Features:

  • Fees: None
  • Commissions: None for online U.S. stock, ETFs, and options trade
    •  65 cents per options contract fee
  • Minimum balance: None
Pros Cons
Ample research and educational offeringsNo fractional shares
Large investment selectionAdviser program fee (a percentage of managed assets)
Quality customer support
Apple Watch compatibility
An illustration accompanies an eye-opening quote to nudge people to learn about some of the best investing apps for beginners.

12. E*TRADE

Apple Store Rating: 4.6 out of 5 stars | Google Play Rating: 4.1 out of 5 stars

As another popular award-winning investing app, E*TRADE offers commission-free investing to beginners with an easy-to-use app interface. The app has a wide investment selection and is compatible with mobile, tablets, and Apple Watches. Users can access real-time news, Bloomberg TV, and third-party research to stay updated on the market at all times. 

Features:

  • Fees: None
  • Commissions: None for online U.S. stock, ETFs, and options trade
    • 65 cents per options contract
    • $1.50 per futures contract
    • $1 per bond
  • Minimum balance: None
Pros Cons
Large investment selection
High minimum balances and fees for managed portfolios
Ample research offerings
User-friendly interface
Quality customer support
Apple Watch compatibility

13. Robinhood

Apple Store Rating: 4.2 out of 5 stars | Google Play Rating: 3.8 out of 5 stars

Robinhood is one of the more well-known apps for investing, offering commission-free investing opportunities with no minimum balance and no fees. Users are able to customize their portfolios, trade in real time, and invest any amount they choose thanks to fractional shares. Robinhood is a solid option for beginners who just wish to trade stocks and ETFs, and new users can get their first stock free.

Features:

  • Fees: None or $5 per month for Robinhood Gold
  • Commissions: None
  • Minimum balance: None
Pros Cons
Fractional sharesNo free research offerings
Cryptocurrency optionsNo retirement options
No bonds or mutual funds

Whether you prefer to be a hands-off investing beginner or a hands-on learner, there’s a mobile investing app to help you get started. Try out one of these best investment apps for beginners to start earning some passive income today. And don’t forget to link your investment accounts with the Mint app to ensure that you’re keeping track of your personal budget. We’re here to help you make money moves toward the brighter financial future you see for yourself. 

Investing App FAQs

Browse through some commonly asked questions about investing and mobile investment apps.

Where Should I Invest My Money as a Beginner?

Here are six investments that are ideal for beginners: 
1. 401(k) plans 
2. Mutual funds 
3. Investment apps 
4. Robo-advisors 
5. Index funds
6.Exchange-traded funds (ETFs)

How Can I Start Investing With Just $100 a Month?

These are some investment ideas for people with access to $100 a month:
• Use a robo-advisor or investment app 
• Invest in mutual funds or ETFs 
• Create a 401(k) plan 
• Open an IRA
• Start an emergency fund

How Can I Start Investing With as Little as $1?

On investment apps like Robinhood and M1 Finance, investors can buy fractional shares for as little as $1.

What Happens When You Invest $1 in Stock?

In a good market, investing $1 in the stock market could potentially turn into nearly $20 on its own due to compound interest

What Should First-time Investors Know?

Use these tips if you’re a first-time investor:
• Create an investment budget and plan 
• Diversify your portfolio 
• Do your research 
• Understand risk

Can Apps Be Used for Active Trading?

Investment apps such as Charles Schwab or Robinhood have active trading capabilities. 

Which Assets Are Available to Trade?

You can use investment apps to trade the following assets: 
• Stocks 
• Bonds
• ETFs
• Mutual funds

Is Invested Money Insured?

The Securities Investor Protection Corporation (SIPC) insures funds invested through investment apps and robo-advisors up to $500,000.

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Mint

Written by Mint

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