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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.
The best investment apps for beginners are easy-to-use platforms with simple trading, helpful tools, personalized portfolios, and commission-free trades on assets like stocks or ETFs. Investment apps for beginners also often offer educational resources like webinars and blog posts.
Best Investment Apps for Beginners
SoFi Invest – Product Name Only: Best overall investment app for beginnersAlly Invest – Product Name Only: Best overall runner-up investment app for beginnersAcorns Invest – Product Name Only: Best automated investment app for beginnersTD Ameritrade – Product Name Only: Best active trading investment app for beginnersPublic Investing – Product Name Only: Best socially responsible investment app for beginnersRobinhood Investing – Product Name Only: Best investment app for beginners for no commissionsStockpile – Product Name Only: Best kids investment app for beginners
Here are the best investment apps for beginners as picked by Insider’s editors.
Automated investing platforms are best for passive investors and beginners who need a simple, low-risk trading experience. The best robo-advisors offer educational resources, customer support, and low-cost investments.
Compare the Best Investment Apps for Beginners
Beginner Investment Apps Frequently Asked Questions (FAQs)
What is a good beginner investment app?
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.
What is the best stock learning app for beginners?
SoFi Invest is a great app for beginners to learn about and trade stocks, since it has educational material. Acorns, Robinhood, Stockpile, and other investment apps from this list are also suitable options for beginners.
How can I start investing with just $1?
Some investment platforms let you invest in fractional shares of stocks with only $1.
How should I invest my first $100?
You can invest $100 in an online brokerage or investment platform that has a minimum investment requirement of $100 or less. Robo-advisors and other investment apps for beginners often have minimum investments between $0 and $100. But some platforms, like Charles Schwab or Vanguard’s robo-advisors, have much higher minimums.
Beginner Investment App Reviews
The best investment apps for beginners offer low fees, investment options, educational resources, account flexibility, and goal-building tools.
Best Overall Investment App for Beginners
SoFi Invest
SoFi Invest 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, ether, 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 Invest 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 Runner-Up Investment App for Beginners
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 Investment App for Beginners
Acorns Invest
Acorns Invest 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.
Best Active Trading Investment App for Beginners
TD Ameritrade
If you are new to the markets and plan to get into active trading, TD Ameritrade investment account 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 investment account 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.
Best Socially Responsible Investment App for Beginners
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 Investment App for Beginners for 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, Robinhood. 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.
Best Kids Investment App for Beginners
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 – Product Name Only: Webull is a newer commission-free investment platform that may be a good option for beginners. It may be a little more challenging for some newer investors to navigate but offers excellent pricing and investment tools.Firstrade – Product Name Only: 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 – Product Name Only: 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 – Product Name Only: 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 – Product Name Only: 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: Our Methodology
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. Investment platforms are given a rating between 0 and 5.
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.
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