7 of the Best Investment Apps for Beginners in 2020
This post may contain affiliate links, please read our disclaimer for more info.
Investment apps are quickly becoming popular—and provide an easy way to invest your money from anywhere—using your cell phone.
You may have been investing for years, or perhaps you have recently decided to start investing money.
Either way, these investment apps will provide you with an easy way to invest your money on the go!
Let's dive into my list where I explore 7 of the best investment apps!
Table of Contents
1. Webull
Webull is a trading platform that gives you the tools you need to analyze and buy stocks—commission-free.
This makes Webull a great option whether you’re new to investing or an experienced trader.
Webull specializes in the following investments:
- Stocks
- Options
- Exchange-traded funds
Best for Active Investors
Webull’s feature-filled dashboard is great for people who are actively managing their investments. You don’t need to watch your investments all day to make money, but it’s great that all the financial information is there when you need it.
Worst for People Who Like to Talk to Brokers
Webull is a self-managed investment platform. All the information is there, but it’s up to you to make your own investments. If you like to call up and talk to your broker before buying a stock, this is not the platform for you.
Webull Summary
Webull is a great trading platform for investors who like to do their own research and make their own investment decisions.
You can get a free stock, valued up to $1600 when you invest $100 with Webull here.
2. M1 Finance
M1 Finance allows you to easily invest in stocks and ETFs without personally managing your investments.
First, you select your investments and your allocations, then you automate the entire portfolio!
The platform has 80 “expert portfolios” or pies to choose from. These pies allocate your money depending on your individual investment goals.
M1 Finance has become the go-to app for passive stock market investing.
You can sign up for M1 Finance here.
3. Acorns
Acorns Grow, Inc., or Acorns, is an investment app that allows you to easily invest on the go!
It only takes five minutes to set up an account with Acorns—and they already have $1 billion invested!
Acorns has a range of investment portfolios for you to choose from, from conservative to aggressive.
Acorns’ pre-made portfolios were created with the help of a Nobel Prize-winning economist, Dr. Harry Markowitz.
How Are Acorns Different?
With Acorns, you can link a credit or debit card—and the app will round up any transaction you make—and invest the difference!
Acorns made it into this list of best investment apps for its innovative spare change investing features!
You can also make lump sum investments and use it as a regular broker. There are no minimum investments and no trading fees.
Acorns has three plans to choose from and they range from $1-$3 a month.
Acorns is the industry leader in the micro-savings space!
4. TD Ameritrade
TD Ameritrade allows you to purchase financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed-income investments.
They make their money by offering margin lending, and cash management services.
TD Ameritrade provides services for 11 million client accounts—that total more than $1 trillion in assets.
They also provide custodial services for more than 6,000 independent registered investment advisors.
While TD Ameritrade has higher commissions than most brokerage apps—they more than makeup for this with their in-depth research and stock recommendations.
5. Robinhood
Robinhood Markets Inc., or Robinhood, is a U.S.-based financial services company headquartered in Menlo Park, California.
And is one of the only brokerage apps to offer free trading.
They have achieved this by keeping their operations small and limiting their storefront developments. Thus, keeping their costs to a minimum.
This platform has been designed “from the ground up” and is designed for the “next generation of newcomers and experts alike.”
The presence of free trading and no minimum account balances make Robinhood one of the best investing platforms for people on a budget.
Unfortunately, however, you cannot contribute towards your retirement accounts on Robinhood.
You are also unable to purchase bonds or mutual funds on this particular platform.
6. Stash
Stash Financial, Inc., or Stash is based in New York, NY.
The company operates both a web platform and mobile apps. Stash had approximately 2.4 million users as of July 2018.
The team at Stash simplifies investing—so that anyone can do it.
They offer fractional shares—meaning you can invest as little as $5 at a time.
Their list of stocks and investing themes are based on the following metrics: expense ratio, trading liquidity, and risk profile.
As they say at Stash: “Whether, you're a new investor or a seasoned veteran, you can feel confident investing with Stash.”
Stash is an excellent place for you to start as a new investor!
7. Wealthfront
Wealthfront Inc., or Wealthfront, is an automated investment service firm based in Redwood City, California and was founded in 2008. Wealthfront had more than $10 billion of assets under management as of March 2018.
Wealthfront allows you to purchase low-cost ETFs, charging a 0.25% advisory fee. Which, according to Wealthfront is “a quarter of the industry average.”.
The robo-advisor takes advantage of tax-loss harvesting and strategic software executed trades—to minimize your tax obligations.
Wealthfront also has a feature called “Smart Beta”, that strives to increase your returns by “weighting securities in the US stock index more intelligently”.
You are required to make a minimum $500 investment to start investing with Wealthfront.
These are the five best investment apps in 2020!
Don't forget you can get a free stock, valued up to $1600 when you invest $100 with Webull here.
If you want to know some other ways to invest money, check out these great ways to invest 1000 dollars!
