Investing can seem intimidating for beginners. With so many options and strategies, it’s hard to know where to start. Thankfully, there are some excellent investing apps that make it simple for novices to get started in the stock market. These apps provide user-friendly interfaces, educational resources, and automation tools to help beginners build their portfolio. In this article, we will look at the best investing apps for beginners to use in 2023. We will cover the key features and benefits of each app to help you decide which one is right for your investing needs.
Top Investing Apps for Beginners
|Robinhood||– Commission-free trading
– Fractional shares
– Easily buy/sell stocks and ETFs
|Acorns||– Automated micro-investing
– Portfolio diversification
– Low account minimum
|Stash||– Themed investments
– Financial education
– Banking services
|M1 Finance||– Automated investing
– Customizable portfolios
– Low fees
|Webull||– Zero commissions
– Extensive market research
– Advanced trading platform
Robinhood is one of the most popular investing apps for beginners. It offers commission-free trades on stocks, ETFs, options and cryptocurrencies. This makes Robinhood ideal for new investors who want to trade frequently in small amounts without paying fees.
Robinhood allows you to buy fractional shares with as little as $1. This gives you the flexibility to invest in high-priced stocks like Amazon or Google even if you don’t have hundreds or thousands to invest upfront.
The easy-to-use Robinhood app makes it simple to monitor your positions and place trades on the go. You get access to features like price alerts, historical charts, and analyst ratings to help inform your trading. Robinhood also has educational content to help you learn as you go.
Acorns takes automated investing to the next level. This app allows you to effortlessly invest your spare change from everyday purchases.
Here’s how it works: you connect Acorns to your bank account and/or credit card. Then, every time you make a purchase, Acorns will round up the amount to the nearest dollar and invest the change.
For example, if you buy a coffee for $2.75, Acorns will automatically invest the $0.25 difference. This “spare change” investing allows you to build up your portfolio by investing as little as $5 at a time.
Acorns will automatically diversify your portfolio across stocks and bonds. The app makes portfolio management completely hands-off for beginners.
Stash is another great investing app for beginners. It provides an easy way to start investing with small amounts of money through thematic ETFs.
Stash offers tailored investment portfolios centered around your interests and values. For example, you can invest in ETFs focused on clean energy, tech innovation, or corporate responsibility. This makes the investing experience more fun and engaging for beginners.
Stash also provides useful financial education content for its users through the app. You can learn investing basics, read up on different asset classes, and get tips on building healthy financial habits.
In addition to investing, Stash offers banking services through its Stash Banking product. This provides checking and savings accounts to complement your investing.
M1 Finance brings automated investing and portfolio customization together in one easy-to-use platform.
With M1, you can choose your own stocks and funds to build a customized portfolio or select expertly crafted pies. Either way, M1 will automatically invest your money and rebalance your portfolio over time.
M1 charges no commissions or management fees. You only pay an annual 0.25% account fee once your balance exceeds $20,000. This transparency and low cost makes M1 a great fit for cost-conscious beginners.
M1 also offers retirement accounts like IRAs which you can fund with an initial deposit of just $100. This flexibility and automation takes the work out of long-term investing.
Webull provides an advanced investing app for beginners looking to level up their knowledge. Webull offers $0 commission trading across stocks, ETFs, and options.
While the platform itself has advanced tools, Webull provides educational resources to help beginners make the most of them. You can take investing courses, read market analyses, and join community forums through the app.
For conducting market research, Webull offers intuitive charting, analyst ratings, and real-time news feeds. You can analyze securities with over 100 different technical indicators.
Overall, Webull delivers a comprehensive trading experience for investors who want to expand beyond basic investing and learn active trading strategies. The $0 commissions and minimal account minimums make it easy for beginners to get started.
Key Considerations for Investing Beginners
When choosing an investing app as a beginner, here are some key factors to consider:
- Fees: Look for low or $0 commission fees on trades. This saves money as you build your portfolio.
- Account minimum: Many apps allow you to get started with little or no money down.
- Educational resources: Look for in-app content and courses to help you learn as you go.
- Automatic investing: For hands-off investing, choose an app with automated micro-investing or portfolio management.
- Advanced tools: To level up your skills, select an app with advanced charting, research and trading capabilities.
- Portfolio customization: If you want control over stock/ETF selection, seek apps that allow tailored portfolios.
Get Started Investing with Confidence
Investing can be simplified and made accessible for beginners through user-friendly apps. With automated micro-investing, factional share trading, and $0 commissions, it’s never been easier to get started in the stock market.
Use this overview of the best investing apps for beginners to select the right platform for your needs. Take your time learning the ropes and seek out educational resources to build your investing knowledge over time. With the right app as your guide, you’ll gain the confidence to create a diversified portfolio and work toward your financial goals.