Best Investment Apps for Beginners: Reviews and Recommendations
Investing can be a daunting task, especially for beginners. With so many options and platforms available, it can be overwhelming to know where to start. That’s why choosing the right investment app is crucial for those looking to dip their toes into the world of investing.
Business Insider has compiled a list of the best investment apps for beginners in 2024. These apps are easy-to-use platforms with simple trading, helpful tools, personalized portfolios, and commission-free trades on assets like stocks and ETFs. They also offer learning tools like webinars and blog posts to help beginners navigate the world of investing.
One of the top picks for the best investment app for beginners is Acorns Invest. Acorns is a platform that is perfect for beginners and hand-off investors who want to start investing but are overwhelmed by the choices with other investing apps. Acorns offers a low investment minimum, portfolio diversification, and beginner-friendly charting tools. While Acorns may be more expensive than other zero-fee apps, its ease of use makes it worthwhile for certain users.
Another top pick is SoFi Invest, which is known for its easy-to-use interface paired with rock-bottom pricing. SoFi allows users to get started with just $1 and offers no commissions for trades and no recurring account fees. The platform also provides complimentary financial planning sessions for all members, making it an ideal place for beginners to start their investment journey.
Ally Invest is another great option for beginners, offering commission-free trading on stocks, ETFs, and options. The platform also provides robo-portfolio options for those who prefer a more hands-off approach to investing. Ally Invest’s app is easy to navigate with accessible investment features like market screeners, performance charts, and stock analytics.
For those interested in socially responsible investing, Public is a top choice. Public combines features from social networks like Facebook and Twitter with traditional brokerage features, making it ideal for beginners learning their way around the markets. The platform allows users to learn from the portfolios of other experts and invest in over two dozen cryptocurrencies.
Lastly, Stockpile is a great option for those looking to invest with kids or teens. Stockpile offers commission-free stock and ETF trades, fractional share investing, and the ability to gift stock through gift cards. The platform is perfect for helping young investors learn how the stock market works in a fun and educational way.
Choosing the right investment app is crucial for beginners looking to start their investment journey. These top picks offer a range of features and benefits to help beginners navigate the world of investing with ease.