Top 5 Best Investing Apps for Beginners

killcreek
Written by killcreek on
Top 5 Best Investing Apps for Beginners

Best Investing Apps for Beginners, Investing is one strategy to diversify your income and expand your wealth when it comes to taking charge of your financial destiny.

Best Investing Apps for Beginners, Investing is one strategy to diversify your income and expand your wealth when it comes to taking charge of your financial destiny. If you’re new to investing, though, determining the best approach to get started can be difficult. Investing is becoming more accessible to the general public thanks to technological advancements, and almost anyone can get started using a mobile app. Here’s a list of the top 5 beginner investing apps to help you diversify your portfolio and learn as you go.

As you begin to invest, keep in mind that each investment has its own risk and return expectations. To limit the risk associated with any one investment, diversify your portfolio.

Diversification can help protect returns from market volatility, economic uncertainty, and inflation by reducing overall risk in a portfolio. Make an effort to diversify your investments and utilize our investment calculator to forecast your financial success.



Acorns

Top 5 Best Investing Apps for Beginners - Acorns

Even if you don’t have a lot of money to invest, make sure it’s spread out. Whatever you can afford without putting your financial situation in jeopardy. Acorns make investing with whatever you have simple by investing your spare change automatically. Users can create an account in less than five minutes and start automating micro-investments with monthly plans starting at $1 (Lite), $3 (Personal), or $5 (Family). You can invest your spare change, start saving and make money for retirement or even open investment accounts for your children, depending on your strategy. Beginners can begin investing without having to think about or manage it, and a staff of experts is available to help if needed.

Pros:

Invests spare change from purchases automatically Built-in Robo-advisor Educational and investing support Cashback at select retailers

Cons:

High monthly fees compared to small account balances Small portfolio Can’t build your own portfolio

Features:

  • Fees: $1 to $5 per month
  • Commissions: None
  • Minimum balance: None to open, $5 to invest

Apple Store Rating: 4.7 out of 5 stars
Google Play Rating: 4.4 out of 5 stars



Robinhood

Top 5 Best Investing Apps for Beginners - Robinhood

Beginners will find it simple to get started with Robinhood and invest commission-free with no minimum amount or fees. Thanks to fractional shares, users may personalize their portfolios, trade in real-time, and invest any amount they choose. Robinhood is a good alternative for beginners who only want to trade stocks and ETFs, and new customers can receive their first stock for free.

Pros:

Fractional shares Cryptocurrency options

Cons:

No free research offerings No retirement options No bonds or mutual funds

Features:

  • Fees: None or $5 per month for Robinhood Gold
  • Commissions: None
  • Minimum balance: None

Apple Store Rating: 4.1 out of 5 stars
Google Play Rating: 1.1 out of 5 stars



Also Read: What is an NFT and How does it work?



SoFi Invest

Top 5 Best Investing Apps for Beginners - SoFi Invest

SoFi Invest is one of the top-rated investing apps in the Apple Store, and it’s suitable for investors of all skill levels. Beginners can choose automated investing and have SoFi’s investors develop their wealth for them. You may diversify your portfolio by choosing from crypto, stocks, or exchange-traded funds (ETFs) if you’re a more hands-on beginning. With SoFi’s low-cost options, all you need is $1 to start trading without paying commissions.

Pros:

User-friendly platform Affordable trading Fractional share options No-cost financial planning

Cons:

Limited investment options

Features:

  • Fees: None
  • Commissions: None
  • Minimum balance: None

Apple Store Rating: 4.8 out of 5 stars
Google Play Rating: 4.1 out of 5 stars



Betterment

Top 5 Best Investing Apps for Beginners - Betterment

Start with Betterment if you want an investment tool that will help you achieve your goals. This program is ideal for beginners because it handles everything from money management to investing, trading, and portfolio rebalancing. The only catch is that Betterment will take care of everything for you if you’re prepared to pay a little extra. You have two options for investing: Digital (0.25 percent of your balance) or Premium (0.4 percent of your balance).

Pros:

Hands-off investing Goal-oriented platform

Cons:

Annual fees for advising (high with large balances) High minimum balance for Premium plan

Features:

  • Fees: Annual fees of 0.25 percent or 0.4 percent of your balance, various fund fees
  • Commissions: None
  • Minimum balance: None for Digital, $100,000 for Premium

Apple Store Rating: 4.8 out of 5 stars
Google Play Rating: 4.6 out of 5 stars



Fundrise

Top 5 Best Investing Apps for Beginners - Fundrise

Another strategy to diversify your portfolio is to invest in real estate, but due to the high cost of entry, this hasn’t always been the most accessible option. Fundrise’s low-fee strategy revolutionizes real estate investing and makes it accessible to both novice and seasoned investors. You can open an account with a modest investment requirement in just a few minutes, choose your chosen investment strategy, and sit back as Fundrise diversifies your portfolio for you.

Pros

Low fees and balance minimum Open to non-accredited investors 90-day guarantee Two-factor authentication and biometric security

Cons

Not good for short-term investing Investments are not liquid

Features:

  • Fees: 0.15% annual advisory fee 0.85% annual asset management fee for standard portfolios
  • Commissions: None
  • Minimum balance: $500 for Starter account (Varying minimums for other account types)

Apple Store Rating: 4.8 out of 5 stars
Google Play Rating: 4.6 out of 5 stars



There’s a mobile investing app to help you get started, whether you’re a hands-off beginner or a hands-on learner. To begin growing your money immediately, download one of these top investing apps for beginners.