Last Updated: June 24th, 2021
Technological advancement has made our lives easier. If you have a smartphone you can do a lot of things, like investing in stocks or trading. If you are looking for some investment apps for beginners, read on.
The Best Investment Apps 2021 For You
1. Acorns Investment App
Acorns investment app is a great investment app for the beginners or the college-going students. A beginner investors can try using the app and get the liberty to invest for free continuously for 4 years. You even earn a signup amount of $5 completely for free.
It is mandatory to link the bank credit/ debit cards and finally select to do a roundup. Acorns will automatically perform the roundup, convert the invested amount to the nearby dollar, and invest the difference for long term benefit. For example, if you ate a pizza at Dominos costing $10.50, then Acorn will make it to the nearest dollar i.e. $11.00, and invest the difference of 50 cents in an automated manner.
Most importantly, only $5 is needed to invest via the app. Even, the app is completely encrypted and secured by the SIPC. The investment is completely assured without any risk of losing the invested amount.
8 Forex Trading Tips For Beginners You Should Follow In 2020
2. Robinhood
Robinhood investment app is one of the best US-based apps allowing the users to invest in the Bitcoin, Ethereum, Crypto, etc to name a few. You even get the flexibility of buying and selling the stocks for free. The signup process is free to start trading in the stock market.
Only $5 is necessary to start the investment procedure via the Robinhood application. Even the free version of the app lets you gain access to numerous tools including instant deposits, research tools, and several others.
The provision of commission-free trading with crypto support and SIPC insured accessing are the other features. The app is perfectly suitable for beginners to gain exposure to the investment market.
3. Stash
The Stash investment app suits the requirements of the beginners who are new to the investment market. The app provides the flexibilities of the least fee structures, zero commission charges, and the possibility of the fractional shares. The individuals only need the minimum investment amount of $5 to start the investing process.
You feel empowered to start investing in the individual’s stocks and ETFs, without any chances of paying the commission. However, you need to pay the minimum fees of $1 per month. You even get the possibility to invest on behalf of your child using the application.
The Stash bank account offered to the investors never pays any form of interest to the individuals. But, the investors feel happy to get rewarded with funds/ stocks for the purchases via Stash debit card. You may miss the web platform and the analysis tools on the platform.
4. Betterment
Betterment is the best alternative to Robinhood in terms of providing flexibility with the devices during initiating the investment process. The Robo-Advisor model works behind the working of the Betterment app. Betterment creates the portfolio based on the information provided regarding the investment objectives, time frames, risk level, and the other worthy information during the account opening process.
The bond ETFs and the global stocks are the mandatory factors to create the portfolio via the Betterment app. The individuals can use the app to open the regular accounts (taxable), along with the provision of the IRAs and the checking accounts. It charges an approximate annual fee of 0.25 percent i.e. $50 for every $20000 invested amount. The compatible platforms for using the app are Android and iOS.
How to Invest Money Safely in the US amid Coronavirus Pandemic
5. M1 Finance
M1 Finance is another best investment app allowing beginners with diverse investment choices. It is completely free to use without any annual fees, or per trade, transaction charges.
You are free to invest both in the ETFs and the stocks. Moreover, there remains the procedure of automatic withdrawal procedure and auto aligning up the user’s portfolio. The users can even opt to choose with the already made portfolios concentrating on the retirement saving plan, and many others.
The trading process using the M1 Finance platform is completely free. However, the investors need to pay an initial amount of $100 to start trading and getting the benefits. Last, but not the least, there are no trade fees, account opening charges, management fees, deposit/ withdrawal fees, to name a few.
6. Fidelity Investment App
This app has been developed keeping the beginner’s mindset of investing in the trade markets and get handsome returns. The app supports a diverse range of accounts and investment along with the long term investment ideas like retirement, and others. There even exist the $0 stocks with the ETF trade flexibility and thereby allows the investors to access numerous services at affordable costing.
Moreover, there are no minimum deposits necessary to initiate the investment process. There is 0 percent commission, but it is mandatory to invest 65 cents only per options contract period. The tradable assets include diverse options including the mutual funds, stocks, ETFs, along with the support for the numerous accounts like the retirement, education account, and few others.
The mobile supported application lets you view the performance of the track via dedicated screen appearances. The account opening process is extremely simple even for the beginners to expedite the investment procedures.
There are numerous other investment apps for beginners along with the options mentioned above including WeBull, Sofi, Tastyworks, Ally, WealthFront, CoinBase, StockPile, and several others. Do proper research before investing in stocks, invest in small amounts wisely to reap profits.
No Responses