Best Investing Apps To Use – In today’s digital world, anything and everything is controlled by an app. That includes investing – and there are so many that it’s hard to separate the best investment apps from the rest.
To choose the best one for you, you’ll want to consider how much control you want to have over your investments, how automated each application’s process is, and how knowledgeable you are about the world of investing.
Best Investing Apps To Use
Luckily, we’ve done the research and narrowed down the big list to the seven best investment apps for people on the go.
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Choosing the best investment app largely depends on whether you are new to investing your money or an experienced investor. Seven best investment apps recommended by Acorn, Stash, Wealthfront, Betterment, E*Trade, M1 Finance and Robinhood.
Check out a brief overview of each of these investment apps to get a feel for how each differs and which one is right for you.
Acorns is a micro-investing app that helps you put your spare cash to good use by investing. With a minimum investment of just $5, Acorns is a great jumping off point for new investors looking to get their toes wet.
Rounds: After linking your card, Acorns rounds your purchases to the nearest dollar, crediting the difference to your Acorns Invest account. Once your spare change adds up to $5, the money is transferred directly to your investment account.
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One-time and Recurring Investments: Besides contributing your spare change, you can make regular deposits to your investment accounts through Acorns. You can make one-time or recurring payments to top up their account. These payments can be $5 one time and repeat daily, weekly or annually.
Diversified Portfolio: Acorns offers five different and diversified portfolios, all designed to give users the highest return for their desired level of risk. It consists of six different ETFs (Exchange Traded Funds) consisting of stocks and bonds.
Acorns Letter: Acorns Letter helps you save for retirement and also offers IRAs and portfolios tailored to your individual needs. Once set up, you can make recurring contributions that are withdrawn directly from your specific accounts.
Acorns prides itself on being transparent and eliminating surprise fees. That’s why they’ve developed a simple, affordable pricing structure that anyone can understand.
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Investment: For just $1 a month, Acorns’ cheapest option has everything you need to get started. The app finalizes your purchases and deposits your excess change into taxable accounts.
Invest + Later: For $2, this plan offers everything the previous plan offers and allows you to open a retirement account. Acorn offers traditional IRAs, Roth IRAs and SEPs.
Invest + Then + Spend: For Acorns fans, this $3/month plan includes all of the above plus a checking account. The checking account offers reimbursement for ATM charges and gives you a 10% bonus on changes invested through the app. Additional funds are invested immediately without waiting for accumulation of up to 5 dollars for transfer.
If you’re new to investing and can’t wrap your head around – let alone the idea of choosing the best investing app – Stash is a great app to start with.
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They offer fractional shares worth of coins and without minimum balance, anyone can easily start investing. But for new investors, the best part of a stash can be an educational experience that gives them the confidence to become an advanced investor.
Round-up investments: Stash round-ups help you invest without worrying about making deposits. Instead, Stash rounds your purchases to the nearest dollar and keeps your money safe until you reach $5. Stash will then deposit the money to you.
It has a $0 minimum balance and skips many of the payments you might expect. For example, it has no monthly fees, no overdraft fees and access to thousands of ATMs.
If you choose to purchase a Stash+ plan, you’ll receive a metal debit card with 2x Stock-Back™. Stock-Back allows users to earn stock in the company when using your Stash debit card to make purchases at the company. For example, if you buy a new iPad, you get a small piece of Apple stock as a bonus.
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Education: If you are a new investor, you may have some questions. If this is you, it’s worth using Stash for their great educational information alone. With articles covering everything from how to build your portfolio and manage market volatility, there’s something for everyone to learn.
Starter: Stash’s Starter plan has everything you need to start investing for just $1 a month and includes a Stash checking account.
Growth: $3 a month in Stash gives you access to tools to help you take financially sound steps forward. In addition to everything the Starter plan offers you, you get access to traditional IRAs and Roth IRAs.
Stash+: Stash+ is a great plan for those who want to be serious about investing. Upgrading to this level adds impressive extra features. For $9 a month, you get access to two kids’ investment accounts, monthly market data and a metal debit card with 2x Stock-Back™.
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If you are not a must-do investor, Wealthfront is a great solution. For starters, they keep their fees low. But they also offer automated investing – you tell Wealthfront your investment goals and they build and manage your portfolio for you.
Automated Investing: Wealthfront Robo-Advisor. So you never get personal help, but the Wealthfront team builds and manages your portfolio on your behalf. Wealthfront is a big fan of passive investing. Their goal is really to make your life as easy as possible, at least when it comes to your money.
You can open an individual or joint account and you can also open a retirement account with Wealthfront. Plus, they offer 529 accounts so you can start saving for your child’s education.
Free financial help: Wealthfront wants to make not only your investments, but your entire financial life a little easier. That’s why they have an entire financial planning department. They can help you plan a down payment on a home, retirement or budget travel.
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Wealthfront Cash Account: Wealthfront offers their own Savings Account which offers high interest rate. There are no account related fees and the minimum amount required to open a new account is only $1.
As Wealthfront aims to minimize investment costs, their annual advisory fee is only 0.25% of your account balance. Wealthfront has an appropriate fee calculator that will help you find out exactly what you will pay in service fees.
A great investment platform for both beginners and experienced investors. You can tell Betterment your desired risk level and they will create a diversified portfolio for you.
Among the many robo-advisors on the market, Betterment holds the title for most assets under management with $16.4 billion in revenue. This makes them the most trusted robo-advisors in the market.
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Diversified portfolio: Betterment offers portfolios with 14 different asset classes – six stock funds and eight bond funds. These asset classes are held in ETFs, helping to diversify your Betterment portfolio. Magnification rebalances your portfolio periodically so you’re always diversified.
Access to Financial Advisors: For advanced investors, Betterment offers you unlimited access to financial advisors. A minimum of $100,000 in your account is required to avail this feature. Once you reach this point, you should benefit from talking to a counselor.
Retirement Planning: Provides great resources for those looking to invest in retirement. They create a personalized plan based on you and your family’s needs. They recommend the right accounts so you can start saving right away. Betterment also offers traditional, Roth and SEP IRAs.
The Betterment app gives you a choice of two different plans: Digital and Premium. The digital plan is simple, requires no minimum balance and charges an annual fee of 0.25%. You get full robo-advisor access and personalized advice.
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A minimum account of $100,000 is required for the premium plan. You get the same features as a digital plan, but you get access to a licensed CFP who can provide you with a personalized investment plan. For premium plan, you will be charged 0.40% per annum.
E*TRADE is the best investment app for investors of all skill levels and can be used independently as users feel comfortable. If investing isn’t your strong suit, E*TRADE provides access to valuable educational resources to help you learn your way around the market.
Basic Portfolios: If you are just starting out with investing