Are you looking for the best investment apps to help you get your finances back on track? An excellent finance app can manage your financial routines, track spending, and shuffle money to investing accounts. The best investment apps allow you to trade stocks quickly, monitor your account in real-time, learn about the markets, and much more. Investment apps are becoming more popular because they can do so many things.
These are the best apps to help you organize and invest your money. These apps are ideal for beginners and those who just want to start investing or simply pick stocks for fun.
Top 10 Investment Apps
1. Betterment – best investment app overall
Betterment has been a popular Robo-advisor. This app offers professionally managed portfolios with a variety of ETFs. It’s tailored to your risk tolerance and when you will need the money. Betterment can help you create socially-responsible portfolios that focus on climate change and social impact. The app can help you find investments that have a higher potential return if you are willing to take on more risk. Betterment is also available to help you create a safer portfolio. Add a strong (and free!) cash management account. Betterment can be set up and you can relax while the pros take care of the rest.
Betterment charges a lower fee than traditional financial advisors. The management fee for the basic account is 0.25 percent, which is a fair rate in the robo advisor world. It’s $25 per year for every $10,000 invested. Betterment will charge extra for ETFs it invests in. This is just like any other robo-advisor. You can set goals for investing, including retirement or a safety net, using these investment apps. There is no minimum account.
Why you should get this app: A professionally managed portfolio at a low price, with cash management accounts.
Minimum Balance Required: $0 digital service; $100,000 premium service
Fees: Management fees are between 0.25 and 0.40 percent annually
Also read: Options vs Stocks: What is Best for Investment
2. Invstr – Best app for education
Invstr is what happens when you combine learning, real-life investing, and community to create an app that allows beginning investors to get into stocks. This app is especially useful if you enjoy games. The app combines a fantasy stock game, where you can assist in managing a virtual portfolio, with access to investors’ thoughts on stocks and other investments.
You can earn $1 million virtual money by playing the fantasy game. Additionally, you can access the app’s news feed and social network to get ideas. The top performers of the month win real cash. If you’re looking to make some real-life investments, you can purchase fractional shares or whole shares in the app. New users will receive $30 worth of Bitcoin if they fund their account with $100. Invstr also offers commission-free trading of cryptocurrencies.
Why you should get this app: To learn from an investment community, hear their reasons for liking certain stocks, and play a fantasy game.
3. Acorns – The best app to save money
Because it’s so easy to use, Acorns is still one of the most loved savings apps. Once you have it set up, you don’t need to pay too much attention. Acorns can link a debit/credit card to your account. Acorns will round up purchases to the nearest dollar and then invest the difference in one of several ETF portfolios.
Acorns Personal costs only $3 per month. This includes an investment account, an individual pension account (IRA), and a metal debit card. The three types of IRA you can open are the Roth, traditional, or a SEP. You can also roll over an existing 401k or IRA.
Acorns select your portfolio based upon the time you have until retirement (calculated at age 59 1/2). As you get closer to that age, Acorns becomes more conservative. This timing may not suit all investors. This tier also offers FDIC-protected checking accounts with no fees and fee-free access at thousands of ATMs. It also gives you early access to direct deposit.
Acorns Family can be added for $5 per month. This includes investment accounts for children and the features of the first Tier.
Why you should get this app: You like automatic investments that are made while you spend without worrying. You enjoy retirement investing without the hassle.
Minimum balance: $0 to open a savings account
Fees: $3 to $5 per month, depending on the service level
4. Wealthbase – The best app to trade games and enter contests
Wealthbase is a brand new entrant to the stock market gaming world. It is the best investing app for fun and stock picking. Friends can make games that last for as long as they like, including weeks, days, or even until the end.
Wealthbase is different in the stock simulation world because of two things: First, the app combines social media and stock picking. A feed of stocks that your friends have picked will be displayed. You can also see daily updates on who is winning and engage in friendly “trash talk.” The app loads quickly and has no delays or hiccups. Even if you aren’t a stock-picker you will still have fun. You can also trade cryptocurrency during the simulation.
Why you should get this app: If you like to play games and pick stocks with friends and coworkers.
5. Wealthfront – Best app to manage portfolios
Wealthfront is an independent robo-advisor and can manage your money in any account, taxable or IRA. Wealthfront employs hundreds of ETFs in order to build your portfolio. It takes into consideration how much risk you are willing to take, as well as when you will need the money. Wealthfront will deposit the money and add it to your account. This will keep your account on track and balanced towards your goal.
Wealthfront charges a management fee of 0.25 percent per year, which is industry-standard. The company says it is a very reasonable price for the services offered, including tax-loss harvesting. This effectively covers the annual fees for many clients. Wealthfront offers a cash management account, which is available even if you do not sign up for the investment account. You’ll also get early access to direct deposit paychecks and a debit card without paying a monthly fee.
UBS will purchase Wealthfront in 2022. It will continue to operate the Wealthfront brand.
Why you should get this app: You just need to add money to your account, and Wealthfront will manage your portfolio to help reach your goals. Cool, too, is the cash management account. You can get $5,000 managed free of charge as a Bankrate user when you open a Wealthfront account.
Minimum Balance: 500
Fees: The management fee is equal to 0.25 percent annually
6. Stockpile – best app for gifting stocks
Stockpile allows you to purchase fractional shares from companies. This is a great app. If you don’t have $300, you can purchase half or a third instead. Stockpile doesn’t charge trading fees.
Stockpile also allows you to gift a gift certificate that can be used for stock. This is a great way to encourage a younger relative to investing in an enjoyable way. To send a gift, you don’t need an account. Stockpile lets kids track their investments and allows them to create a list of stocks they can trade. Stockpile allows kids to share their stock wish lists with friends and family.
Why you should get this app: If you enjoy investing but don’t have the funds to purchase high-priced stocks, and you love the idea of giving stock to younger relatives.
7. Fidelity Investments – The best app to manage your money
You can live your entire financial life on Fidelity investments. It’s easy and seamless. Fidelity offers a variety of accounts including an investment account, a checking and IRA account as well as a savings account. You can also get a robo advisor account, credit card accounts, and bill paying accounts.
All your financial information can be accessed from one place. There will be solid research about mutual funds and ETFs, as well as tons of articles and webinars on personal finance, budgeting, investing, and personal finances. You’ll also be connected to a Fidelity representative who will assist you promptly if you don’t need it.
Why you should get this app: If all of your financial accounts are under one roof and you want to be treated as a valued customer, then this app is for you.
Also read: What is NFT Investing a Complete Guide
8. Minimum Balance: $0
Robinhood – best app for active trading
Robinhood has the app you need if you want a smooth interface, avoiding trading commissions and trading stocks, ETFs, or options. It’s all free and you can do it all using a mobile interface that is easy to use. It’s simple to use and you’ll be able to move from one screen to the next as you trade in the market.
A search bar at top of the screen will allow you to access the stock’s pages. You can then pull up charts or vital statistics. A feed, which aggregates news stories from investing websites, is also useful. Once you have decided what you want, enter the number you wish to sell or buy, swipe up and your order will be placed. Bankrate’s complete review is available here. )
Why you should get this app: You like trading stocks (as well as options, ETFs, and cryptocurrency) and want a quick way to do it.
Minimum Balance: $0
9. Charles Schwab – The best app for beginners
Charles Schwab is a good app for professionals, but it’s also great for beginners because it offers so many resources. Schwab offers a wealth of education and research, which can help new investors become more knowledgeable about topics like investing and personal finances.
You can also get fractional shares. This means you can put all of your money into your stock, instead of sitting on idle investment money. You’ll also be exempt from the commission on stock and ETF trades. Schwab is also a great choice for mutual fund investors. It has more than 4,000 funds that are free of transaction fees, making it one of the most comprehensive in the industry.
High-quality customer service will be available to answer your questions quickly and efficiently. You’ll also get one of the most attractive sign-on bonuses, starting with just $25,000 in deposit.
Why you should get this app: If you like to invest with a friendly company, that will help you in your journey.
Minimum Balance: $0
10. Ellevest – best app for socially responsible investing
Ellevest has been ranked as one of the best Robo-advisors. It’s also the most popular app for socially responsible investment. Ellevest was created to assist women investors in making smart investment decisions. However, clients can be anyone. Ellevest creates investment plans and portfolios that account for women’s different circumstances, such as lower lifetime earnings.
Ellevest offers clients the ability to create portfolios that include up to 53 percent in ESG or social impact funds. This is what Ellevest calls its Impact portfolio. These funds invest in companies with more female leaders, which support affordable housing and community services, as well as those that are more sustainable. The Impact portfolio is only slightly more expensive than Ellevest’s core portfolio at $13-$19 per annum for every $10,000 invested.
Why you should get this app: A socially responsible portfolio can provide attractive returns while making it easy to invest.
Minimum Balance: $0
Fees: Fees are $5 or $9 per month (or discounted annually).
Conclusion – Best investment apps
When it comes to investment apps, Think about how you will use them. Are you looking for an educational tool? Or are you looking to trade and invest in real life? While some apps can charge fees that could impact your investment returns, others offer low costs and commission-free trading. If you are interested in trading things such as cryptocurrencies, You’ll need to ensure that this feature is available by the broker or app – Not all brokers offer crypto trading.
