Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own. If you’re new to investing, the best investment apps should offer low fees and access to the types of accounts and investment products you care about most. The app you choose should suit your investment style and offer the tools you need (such as educational guides and/or courses, human advisor access, and strong customer support) to achieve your financial goals. Axos Self-Directed Trading Fees Commission-free stocks and ETFs, $1 options contracts Investment Types Stocks, ETFs, options, and mutual funds Axos Self-Directed Trading Fees Commission-free stocks and ETFs, $1 options contracts Investment Types Stocks, ETFs, options, and mutual funds Axos Self-Directed Trading Details Fees Commission-free stocks and ETFs, $1 options contracts Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum for DIY trading; no commissions on stocks or ETFs Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated portfolios included tax-loss harvesting; more than 30 asset classes Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low advisory fee for automated investing Check mark icon A check mark. It indicates a confirmation of your intended interaction. Stocks, ETFs, options, and mutual funds available Dash icon A dash. It often indicates an interaction to shrink a section. No financial advisor access Dash icon A dash. It often indicates an interaction to shrink a section. High options contract fees Dash icon A dash. It often indicates an interaction to shrink a section. No fractional shares Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Open an Account in Under 10 Minutes. Trade thousands of S&P 500, NASDAQ, NYSE, and other listed stocks Commission-free ($0 per trade on eligible stocks and ETFs; other fees may apply) Easy-to-use platform with the tools you need and the convenience of placing trades anytime, anywhere. Upgrade to Axos Elite and boost your account with instant access to funds, lower fees, increased buying power, and enhanced market knowledge. Link your Axos Bank account for fast, safe, and easy money transfers. Axos Elite Members get a 20% discount on Options trading All Consumer Invest clients receive access to Axos’ licensed Wealth Advisor Team. Best Investment Apps for Beginners Here are the best investment apps for beginners as picked by Insider’s editors. Compare the Best Investment Apps for Beginners SoFi Invest 4.65/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($1 to start investing); $5 fractional shares Fees 0% for active trading and automated investing (1.25% for cryptocurrencies) Investment Types Stocks, ETFs, IPOs, and cryptocurrencies SoFi Invest 4.65/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($1 to start investing); $5 fractional shares Fees 0% for active trading and automated investing (1.25% for cryptocurrencies) Investment Types Stocks, ETFs, IPOs, and cryptocurrencies SoFi Invest SoFi Invest us a great platform for US investors who are looking for an intuitive online trading experience, an open active or automated investing account, and assets like cryptocurrencies. Details Account Minimum $0 ($1 to start investing); $5 fractional shares Fees 0% for active trading and automated investing (1.25% for cryptocurrencies) Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum to start investing Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account or trading fees, and low fees to own funds Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Certified Financial Planners at no additional charge Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency trading and IPOs available Dash icon A dash. It often indicates an interaction to shrink a section. No tax-loss harvesting, an advanced investing technique where you sell a stock or mutual fund at a loss for a tax benefit Dash icon A dash. It often indicates an interaction to shrink a section. No option for stop-loss orders when actively investing. SoFi’s active investing account only uses market orders Dash icon A dash. It often indicates an interaction to shrink a section. Currently only available to US residents Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Promotion: Get up to $100 in bitcoin when you make your first trade. App store rating: 4.8 iOS/4.1 Android Consider it if: You want an easy-to-use platform paired with rock-bottom pricing. Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing right Ally Invest 4.48/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($100 for Robo Portfolios; $100,000 for Wealth Management) Fees 0% (up to 0.85% for wealth management; bonds, mutual funds, and certain stocks have fees) Investment Types Stocks, ETFs, options, bonds, mutual funds, and forex Ally Invest 4.48/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($100 for Robo Portfolios; $100,000 for Wealth Management) Fees 0% (up to 0.85% for wealth management; bonds, mutual funds, and certain stocks have fees) Investment Types Stocks, ETFs, options, bonds, mutual funds, and forex Compare investing options Ally Invest Compare investing options Ally Invest is best for active traders looking for $0 minimum deposits, commission-free investing, easy-to-use trading tools, and 24/7 market access. The brokerage is also great for passive investors in search of automated advice. Details Account Minimum $0 ($100 for Robo Portfolios; $100,000 for Wealth Management) Fees 0% (up to 0.85% for wealth management; bonds, mutual funds, and certain stocks have fees) Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account minimums or commissions for trading Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated portfolios free of advisory or management fees; wealth management available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Options contracts only cost $0.50 per contract Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bank accounts, mortgage refinancing, car loans, and personal loans available through Ally Bank Dash icon A dash. It often indicates an interaction to shrink a section. Thousands of mutual funds but no no-transaction-fee mutual funds Dash icon A dash. It often indicates an interaction to shrink a section. No cryptocurrencies Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. App store rating: 4.7 iOS/ 3.9 Android Consider it if: You want easy-to-use apps paired with excellent investing, checking, and savings accounts. Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing right Acorns Invest 3.9/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($5 to start investing) Fees $3/month for personal accounts or $5/month for families Investment Types ETFs. Acorns diversified portfolios are built by experts and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock. Acorns Invest 3.9/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($5 to start investing) Fees $3/month for personal accounts or $5/month for families Investment Types ETFs. Acorns diversified portfolios are built by experts and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock. Acorns Invest Details Account Minimum $0 ($5 to start investing) Fees $3/month for personal accounts or $5/month for families Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. Helpful automatic saving and investing tools Check mark icon A check mark. It indicates a confirmation of your intended interaction. Portfolio suggestions built to match your risk level Check mark icon A check mark. It indicates a confirmation of your intended interaction. “Found money” invests a percentage of your purchases from certain companies Dash icon A dash. It often indicates an interaction to shrink a section. Flat monthly fee is on the high side, especially for smaller accounts Dash icon A dash. It often indicates an interaction to shrink a section. No option to choose individual investments Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Invest in the background of life with Acorns, and get a $10 bonus investment! In under 3 minutes, start investing spare change, saving for retirement, earning more, spending smarter, and more. Invest with as little as $5. The average Acorns customer invests $166 within 4 months just by rounding up spare change! Diversification means your investments are exposed to a broad range of stocks, bonds, or both — possibly over 7,000! This can help reduce your risk, compared to trading individual stocks. Banking + investing all in one app. Claim a checking account with a debit card that automatically saves and invests for you. Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing right Public Investing 4.14/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees 0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month Investment Types Stocks, ETFs, alternative assets, treasury bills, and cryptocurrencies Public Investing 4.14/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees 0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month Investment Types Stocks, ETFs, alternative assets, treasury bills, and cryptocurrencies Public Investing Public is best for active traders who want to invest in stocks, ETFs, and cryptocurrencies while utilizing the expertise and insights of other Public.com members. Details Fees 0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums and commission-free trading on stocks and ETFs Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency trading available for more than 25 coins and tokens; alternative assets available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers fractional share investing for as little as $1; Premium plan includes advanced market data and insights Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several community features that allow you to share insights and receive insights from other users; educational resources like live audio events also available Dash icon A dash. It often indicates an interaction to shrink a section. No mutual funds, bonds, or options Dash icon A dash. It often indicates an interaction to shrink a section. Not the best platform for day traders; it doesn’t allow day trading of stocks Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. App store rating: 4.7 iOS/4.3 Android Consider it if: You value portfolio diversification and want a social component to your investing experience. Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing right Robinhood Investing 4.21/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($1 for fractional shares; $2,000 for margin trading through Robinhood Gold) Fees 0% ($5/month for Robinhood Gold) Investment Types Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs Robinhood Investing 4.21/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Account Minimum $0 ($1 for fractional shares; $2,000 for margin trading through Robinhood Gold) Fees 0% ($5/month for Robinhood Gold) Investment Types Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs Robinhood Investing Details Account Minimum $0 ($1 for fractional shares; $2,000 for margin trading through Robinhood Gold) Fees 0% ($5/month for Robinhood Gold) Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free stock, option, ETF, and cryptocurrency trades; 1.50% APY on uninvested cash for non-Gold users and 4.90% for Gold members Check mark icon A check mark. It indicates a confirmation of your intended interaction. IPO investing available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash management accounts available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Website is easy to navigate; advanced charts for all users Dash icon A dash. It often indicates an interaction to shrink a section. Lack of investing research and trading tools; can only take advantage of professional research if you’re a Robinhood Gold member Dash icon A dash. It often indicates an interaction to shrink a section. No joint accounts, education savings accounts, or mutual funds Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. App store rating: 4.2 iOS/4.0 Android Consider it if: You want to trade crypto and invest in a wide range of stocks and ETFs. Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing right Stockpile 3.79/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees $4.95 monthly subscription fee Investment Types Stocks, ETFs, and cryptocurrencies Stockpile 3.79/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees $4.95 monthly subscription fee Investment Types Stocks, ETFs, and cryptocurrencies Compare investing options Stockpile Compare investing options Stockpile is a newer and smaller brokerage than some others on this list, but it’s perfect for kids Details Fees $4.95 monthly subscription fee Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums and no gift card/funding fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. 1,000+ stocks and ETFs Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can fund account with bank transfer or stock gift cards Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fractional shares available Dash icon A dash. It often indicates an interaction to shrink a section. Investment selection limited to stocks, ETFs, and crypto Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. App store rating: 4.7 iOS/4.3 Android Consider it if: You want to invest with kids or teens Beginner Investment Apps Frequently Asked Questions SoFi Invest is a great investment app for beginners because it has low costs, an easy-to-use platform, and complimentary financial planning sessions. Acorns, Ally, and TD Ameritrade are a few other good beginner investment apps. SoFi Invest is a great app for beginners to learn about and trade stocks, since it has educational material. Some investment platforms let you invest in fractional shares of stocks with only $1. Beginner Investment App Reviews Best Overall Investing App for Beginners SoFi Invest SoFi is a top pick for beginners thanks to an easy-to-use platform paired with rock-bottom pricing. You can get started at SoFi Invest with just $1, and there are no commissions for trades and no recurring account fees. Even the managed portfolio product, SoFi automated investing, where your ETFs are all picked and managed for you, is free to use. The app includes stocks and ETFs listed by category, making it easy to browse potential investment opportunities. It doesn’t have the most in-depth investment research, but there is enough to get you started and guide your trading decisions. In addition to cryptocurrency trading (for bitcoin, ethereum, dogecoin, and 19 other coins), you can also access investment education articles from inside the app. Note, though, that SoFi charges a 1.25% markup on crypto transactions. As an added bonus outside of the app, SoFi offers complimentary financial planning sessions for all members, among other benefits. You’ll be able to work with certified financial planners (CFPs) who can help you reach your goals. If you are a beginner and want help putting an investment strategy together, SoFi is an ideal place to start. What to look out for: SoFi doesn’t offer tax-loss harvesting. Read our SoFi Automated Investing Review Best Overall Investing App For Beginners Runner-Up Ally Invest Beginners often do well with simple and straightforward investment platforms. Ally Invest offers just that through its mobile app. You can trade stocks and ETFs with no commissions; mutual fund trades will incur a $9.95 commission fee. There are no recurring fees or minimum balance requirements to worry about. Plus, if you prefer the robo-advisor route, Ally Invest Robo Portfolios creates a personalized portfolio of ETFs for you. The account gives you the choice between four portfolios: Core, Income, Tax-optimized, and Socially Responsible. You’ll just need a minimum of $100 to get started, and you won’t have to worry about any advisory fees. However, Ally Invest also launched a market-focused portfolio. This account only uses 2% of your portfolio as a cash buffer. The former option reserves 30% of your portfolio as a cash buffer. The Ally app, which is also used by Ally Bank, is straightforward and easy to navigate. It doesn’t have as many bells and whistles as some active trading platforms, but it has everything a beginner and most passive investors might need. What to look out for: Ally Invest offers wealth management services, but you’ll need at least $100,000 to get started. Best Automated Investing App for Beginners Acorns Invest Acorns is an investment app for people who know they should be investing but don’t have or want to spend the time to manage it themselves. For $3 per month, Acorns will take care of everything. That includes automatic spare change investing through transaction round-ups, automated transfers, retirement account saving, banking perks, and a fully automated investment plan. And for both of its pricing plans, Acorns Personal and Acorns Family, the platform invests your money into a diversified portfolio of ETFs. The big upside of Acorns is that it’s so easy to use. The big downside is that there’s a fee no matter what. This is arguably better than asset-based fee deductions which fluctuate as your balance grows. With the monthly fee, you’ll pay the same amount every year. For additional accounts and features, including investment accounts for children, you’ll have to pay $5 per month. What to look out for: You won’t be able to choose individual investments with Acorns. Acorns review Best Investing App for Beginners for Active Trading TD Ameritrade If you are new to the markets and plan to get into active trading, TD Ameritrade is a good place to start. It charges no commissions for stock or ETF trades and offers multiple account platforms that align with various investment styles and goals. When you’re starting out, you’ll probably feel most comfortable in the main TD Ameritrade app. As your investment skills grow, you can upgrade to thinkorswim, the premier active trading platform from TD Ameritrade. It has tons of useful features for active traders. Important for beginners, there’s a feature to chat with an expert trader inside of thinkorswim. What to look out for: Charles Schwab acquired TD Ameritrade in 2020. However, Schwab has announced it plans to keep TD Ameritrade’s thinkorswim in its product lineup going forward. TD Ameritrade’s managed accounts (Essential Portfolios, Selective Portfolios, and Personalized Portfolios) are also no longer available to new clients, but prospective investors can alternatively invest in managed accounts through its partner, Charles Schwab. TD Ameritrade review Best Investing App for Beginners for Social Investing Public When you’re a beginner in the stock market, it can feel intimidating to research and choose stocks and other investments on your own. Public combines features from social networks like Facebook and Twitter with traditional brokerage features. That makes for an investment app ideal for beginners learning their way around the markets. Not only can you learn from the portfolios of other experts by following their posts in the Public feed, you can also create group chats with other users and participate in live investing events and conversations. Plus, you can invest in more than 25 cryptocurrencies, including bitcoin, dogecoin, and ether. However, you’ll incur a 1% or 2% markup for each crypto transaction (note that crypto trading isn’t available to New York, Guam, or US Virgin Islands residents). With fractional shares starting at $5, you can also buy into a huge number of supported companies without putting up enough cash for a full share. Public also recently launched alternative assets on its platform, so you can now exchange art, NFTs, collectibles, and more for 2.5% per transaction. What to look out for: While it doesn’t offer every popular type of investment, Public covers stocks and ETFs in a way that’s great for newer investors or even experienced investors looking to improve their investment strategy. Best Investing App for Beginners with No Commissions Robinhood Robinhood is a pioneer in the no-commission brokerage model. It remains a solid choice for beginners, as they can invest in stocks, ETFs, options, and cryptocurrencies with zero commissions. Typical stock and ETF investors will be able to use Robinhood with no costs at all, though premium accounts are available with more features for a monthly fee starting at $5. Plus, Robinhood offers commission-free cryptocurrency trading for several digital assets. Among these are bitcoin, ether, dogecoin, litecoin, and more. Robinhood also offers traditional and Roth IRAs with $0 trading commissions, a 1% match on every dollar you contribute, recommended portfolios, and more. What to look out for: Robinhood has a history of controversies over downtime and how some users have been able to enter extremely risky trades that they didn’t understand. As with any investment app, it’s important for Robinhood traders to understand the risks of what they’re doing so they can invest in line with their goals and avoid unexpected losses. Robinhood Investing Review Best Investing App for Kids Stockpile Stockpile also offers commission-free stock and ETF trades, and it provides some unique features that complement its $o commission fee structure. The platform also recently launched crypto investing. Plus, Stockpile allows fractional share investing and supports the gift of stock through gift cards, which makes it perfect for the youngest investors. If you are a parent, grandparent, aunt, uncle, or another relative who wants to help a child in your life learn how the stock market works, Stockpile is perfect for your needs. It makes it easy to gift stock and keep tabs on the account of a minor. It also makes it fun to navigate through supported stocks while educating users through “mini-lessons” that teach how to invest. What to look out for: Stockpile only offers stocks, ETFs, and crypto, so you’ll need to consider other platforms if you’d like to invest in additional asset types. Other Beginner Investment Apps We Considered Webull: Webull is a newer commission-free investment platform. It may be a little more challenging for some newer investors to navigate but offers excellent pricing and investment tools. Firstrade: Firstrade’s web and desktop investment apps feel a little lower-tech, but its mobile app is simple and easy to navigate. It offers excellent pricing including commission-free mutual fund trades. Stash Invest: Stash is great for newer investors looking to learn how to invest and build the right mindset, but monthly $1 to $9 fees make it less appealing. Investr: This platform offers commission-free stocks, ETFs, cryptocurrencies, and ADRs. It also allows for fractional share trading, but it doesn’t support IRAs. Uphold: Uphold is a cryptocurrency, multi-asset investing platform that offers cryptocurrencies, stablecoins, environmental assets, and precious metals for trading. But it doesn’t offer stocks, bonds, mutual funds, or ETFs. Wells Fargo Intuitive Investors: A robo-advisors for low-risk ETFs. It has a wide range of account options and educational tools suitable for beginners. But it has a $500 account minimum. Why You Should Trust Us: How we Reviewed The Best Investment Apps for Beginners For beginners, it’s important to choose an investment app that combines low costs with the features you care about most. Whether you’re looking to build a passive portfolio of funds, an active portfolio of stocks, or any other investment strategy, there’s a brokerage and investment app designed to meet your needs. To make our selections, we used Insider’s methodology for rating investing platforms to focus on costs and fees, app features, types of accounts available, investment products available, and beginner-friendly features to manage your investment account on the go. <br /> Eric Rosenberg Freelance Writer Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker. When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers, and spending time with his wife and little girls. You can connect with him at Personal Profitability or EricRosenberg.com. Read more Read less Rickie Houston Senior Wealth-Building Reporter Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. Read more Read less Top Offers From Our Partners Source link Post Views: 18 Post navigation Investing for Beginners: An Ultimate Guide for 2022 7 Best Ways To Invest While You’re In College