Never has it been easier to invest your money. Whether you’re an experienced investor who has traded stocks, bonds or ETFs (Exchange-Traded Funds), or you’re a new investor who has never owned a share of stock, these are the best investment apps that will help you achieve financial goals.
These stock trading apps have removed the hurdles that previously made it difficult for individuals to get started investing in the stock market. The services profiled offer either commission-free or low fee trades.
In addition to offering investing solutions, most of these investment apps offer bank account services that include a debit card, a savings account and checking accounts. While using the bank account services are not required, new investors who use them receive a number of benefits that include free stock, interest income, tax-loss harvesting, and round-up contributions. These benefits compound in a way that helps investors grow their account balance and achieve their personal finance goals faster.
Stash is an investing app that bills itself as a do-it-all home for your money. Like most of the investing apps, Stash launched as simply an investment account. Now, over 4 million Americans user Stash to invest, bank and save. One of the unique ways that the Stash trading app allows you to buy stock through round-ups. Round-Ups let you round up spare change from purchases you make with a linked bank account. For example, if you buy something with a bank debit card for $4.65. The Stash investment app rounds up your purchase another $0.35. When your round-ups reach $5 or more, Stash transfers the “spare change” to your personal investment account.
There are 3 Stash monthly pricing plans that allow you to invest in their mobile app. There’s a $1, $3 and $9 monthly program. With its Basic $1 monthly program, investors get a personal investment account and a debit card from which you can earn free stock from its Stock-Back program. The $3 per month Stash Growth plan adds the ability to invest in two different retirement accounts: ROTH IRAs and Traditional IRAs to help you save for retirement. The $9 per month Stash+ plan allows investors to set up 2 custodial accounts to help save for the future college student in your life. Whatever plan you select, there are no minimum investments, management fees or annual fees.
Stash Coupon or Sign-Up Deal: Right now, you can earn up to $55 that you can use to make free trades to buy stock. Follow these 5 steps to take advantage of the offer: 1. Sign-up for free Swagbucks. 2. Search for Stash sign-up offer. 3. Sign up for Stash and link your bank account. For an additional $50 in free stock, set up a direct deposit with your employer.
Stash is ideal for investors who don’t have a lot of personal capital with lower risk tolerance levels and is comfortable making small investment decisions without the benefit of a dedicated financial planner. It’s a great way to passively building an investment portfolio.
Robinhood is an investing app that’s available on iOS and android. It allows you to make stock, options and ETF trades, all commission-free with $0 minimum deposit. The investment options available through Robinhood and Robinhood Gold are more singularly focused on buying stocks, options, and ETF. The basic Robinhood plan lets investors make stock trades with zero transaction fees.
Investors can make stock, options and ETF trades by placing market orders, limit orders or by making fractional share purchases.
Robinhood Gold, which has a $5 monthly fee, unlocks additional trading capabilities. The most significant benefits include larger instant deposits and the ability to trade on margin.
Robinhood Crypto allows investors with high-risk tolerance levels to trade cryptocurrencies.
Robinhood Coupon or Sign-Up Deal: Right now, you can earn up to $10 that you can use to make free trades to buy stock. Follow these 5 steps to take advantage of the offer: 1. Sign-up for free Swagbucks. 2. Search for Robinhood sign-up offer. 3. Sign up for Robinhood and link your bank account. For an additional $50 in free stock, set up a direct deposit with your employer.
Robinhood is ideal for investors that want to take part in the action and select which stocks to invest in. You’d need a bit of knowledge and confidence to get comfortable making trades. It’s a great way to actively build an investment portfolio backing brands that you know and trust.
Stockpile is a trading app available on the Apple App Store and Google Play that aims to make investing in the stock market accessible and less intimidating with fun mini-lessons to teach aspiring investors at any level. Perfect for children and teens to get an early start at investing.
Stockpile acts as a broker to purchase and hold shares of stocks and ETFs. Trades are only $0.99. You can buy stock using a credit card or debit card. Their trading platform focuses on buying fractional shares from thousands of popular companies with no monthly fees or minimum initial investments. Fractional share purchases allow you to build an investment portfolio comprised of partial shares of stock. In other words, you can own 1/20th of a share of stock.
You can also give e-gift cards or physical gift cards of stock to friends and family. The gift cards will display stock in a specific company, or the recipient has the option to use it to purchase a different one.
Stockpile is great for those getting started with investing and for teaching young children. You can learn as you go and you do not need a lot of capital to get started.
Betterment has a series of financial products from spending, saving, to investing. Focusing primarily on their line of investment management tools, Betterment is considered a Robo investor that will create an investment plan tailored to your needs and goals.
Investing and retirement accounts have an annual fee of 0.25% per year on your balance. So if you have $10,000 invested with Betterment, you’ll pay $25 for your annual fee. None of their accounts require a minimum balance so you can start investing with as little as $10. They automate tax-saving strategies like asset location and tax loss harvesting that work to help make the most of your investments.
If you ever need extra guidance with your Betterment app, they have a solid customer support team that’s available to answer questions. If you have very complex questions or want deeper financial advice, you can talk to one of Betterment’s certified advisors over the phone with an advice package. Or you can sign up for a Premium plan that provides you with unlimited access and costs 0.40% per year.
Betterment is ideal for investors who don’t have a lot of personal capital with lower risk tolerance levels and wants some level of guidance but aims to be hands-off in the entire investment process. With Betterments Robo investors it’s a great way to get started with passively building an investment portfolio.
Acorns app is most known for its micro-investing tool that allows you to invest spare change by rounding up purchases whenever you use your debit or credit cards similar to Stash. You can also make recurring deposits to save even more. It only takes a couple of minutes to set up an account and automatically add money to your diversified portfolio that’s personalized towards your goals.
Acorns is ideal for investors who don’t have a lot of personal capital with lower risk tolerance levels. It’s a great way to passively building an investment portfolio or retirement fund.
Wealthfront is a popular robo-advisor for people that want to be completely hands-off with their investing. Once you select your goals and make your first deposit, the rest is automated with software to figure out asset allocation, rebalance when dividends are reinvested, money is depositing, a distribution is taken or adjust to market fluctuations.
Wealthfront does have an account balance requirement of $500 but they choose low-cost Stock and ETFs trades and only charge a 0.25% annual advisory fee on what you invest. No trading commissions, withdrawal fees, minimum fees, or transfer fees.
Wealthfront requires a bit more of upfront capital but personal capital but it is a great choice if you want a hands-off passive way to invest.
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