Investing can feel overwhelming when you're just starting out. With so many apps and platforms available, finding the right one for your needs can be a daunting task. But don’t worry! The good news is that there are beginner-friendly investment apps designed to make the process simple, even if you’ve never bought a stock before.
This guide will introduce you to the best investment apps for beginners, what features to look for, and key factors to consider, like ease of use, fees, and educational tools. We’ll even include a pros and cons comparison chart to help you make an informed choice.
Top Investment Apps for Beginners
Here’s an overview of some of the leading platforms used by beginner investors. These apps are easy to use and offer a range of resources to help you grow your knowledge.
1. Robinhood
Best for: Simple and commission-free investing
Robinhood made waves in the investment world by introducing commission-free trading. The app is designed for beginners with a clean, simple interface and allows you to trade stocks, ETFs, cryptocurrencies, and even options with ease.
Key Features:
$0 commission trades
Intuitive design loved by beginner investors
Real-time market data and the ability to buy fractional shares
What to keep in mind: Robinhood doesn't provide extensive research tools or in-depth educational content, which may be a limitation for some.
2. Webull
Best for: Intermediate beginners looking for more advanced features
Webull offers commission-free trades, much like Robinhood, but with more features and tools for those looking to expand their investing knowledge. It’s perfect for beginners who want to grow into advanced investing.
Key Features:
Advanced charting tools
Commission-free trades on stocks, ETFs, and options
Virtual trading feature
What to keep in mind: Webull’s interface can feel complex for absolute beginners.
3. Acorns
Best for: Saving and investing spare change
Acorns is built with the beginner investor in mind. It rounds up your everyday purchases and invests the spare change into a portfolio tailored to your preferences. Over time, those cents add up!
Key Features:
Automatic investments (spare change round-ups)
Pre-designed portfolios based on your goals
Educational tools through their app
What to keep in mind: Acorns charges a monthly fee, which can feel significant if you’re only investing small amounts.
4. Stash
Best for: Combining education and investing
Stash is all about simplifying investing while teaching you as you go. You can build a portfolio based on your values or financial goals and access content to learn investing basics.
Key Features:
Customizable portfolios
Education-focused content
Fractional shares
What to keep in mind: Stash also has monthly fees, so weigh the services provided against your investment goals.
5. Fidelity Investments
Best for: Comprehensive investing and zero stepping-stone fees
Fidelity is ideal for those who want to start simple but also plan to grow into more advanced investing. With zero account fees and a variety of low-cost funds, it’s beginner-friendly and robust enough to handle a long-term investing strategy.
Key Features:
No minimum account balance requirement
Zero expense ratio mutual funds
Comprehensive resources and customer support
What to keep in mind: It might feel less intuitive than other apps like Robinhood, but beginners can still get the hang of it.
Features to Look For in an Investment App
If you’re wondering how to pick the best investment app for your needs, here are the most important features to consider:
1. Ease of Use
A simple and user-friendly design is essential, especially if you’re new to investing. Apps like Robinhood and Acorns are known for their intuitive interfaces, ensuring first-timers can easily understand how to invest.
2. Fees and Costs
Fees can eat into your returns, especially when starting with a small portfolio. Look for platforms that offer commission-free trades or low-cost options. That said, don’t sacrifice quality tools and resources just to avoid fees.
3. Educational Tools
Great investment apps for beginners offer educational resources to help you learn as you go. Stash, for example, provides step-by-step guides and tips within its app. Acorns also integrates financial education tailored to new investors.
4. Mobile vs Desktop Usability
Are you someone who prefers managing finances on your phone? Or do you like the bigger screen that a desktop provides? Apps like Robinhood are mobile-first, while others like Fidelity ensure seamless access on both mobile and desktop.
Pros and Cons Comparison Chart
Here’s a helpful comparison to understand the strengths and weaknesses of each app:
App | Pros | Cons |
|---|---|---|
Robinhood | Free trades, easy interface | Fewer research tools |
Webull | Advanced features, virtual trading | Complex for absolute beginners |
Acorns | Passive investing, automatic round-ups | Monthly fees can feel high |
Stash | Combines education and investing | Subscription fee required |
Fidelity | Comprehensive services, low costs | Less intuitive for beginners |
Final Thoughts
Starting your investment journey is exciting, and choosing the right app is a critical first step. Whether you want the simplicity of Robinhood, the automation of Acorns, or the comprehensive resources of Fidelity, there’s an app out there that fits your needs.
The key is to start small, learn as you grow, and pick a platform that aligns with your goals and style. The investment world can seem daunting, but with the right tools and resources, you’ll soon gain confidence and skill.
Want to explore beginner-friendly tips or compare other platforms? Check out additional resources on our blog. Happy investing!
