If you’re new to investing, finding the right investment app can be a game-changer. The best investment apps for beginners offer low fees, access to various accounts, and investment products that align with your financial goals. But with so many options out there, it can be overwhelming to choose the right one.
To help you make an informed decision, we’ve researched and compiled a list of the top investment apps for beginners in 2024. These apps not only cater to beginners but also provide a seamless user experience and valuable resources to enhance your investment journey.
Best Investment Apps for Beginners
- SoFi Invest: Best overall investment app for beginners
- Acorns Invest: Best automated investment app for beginners
- Ally Invest: Best overall runner-up investment app for beginners
- TD Ameritrade: Best active trading investment app for beginners
- Public Investing: Best socially responsible investment app for beginners
- Stockpile: Best kids investment app for beginners
Compare the Top Investment Apps for Beginners
The best investment apps for beginners are easy-to-use platforms that offer simple trading, personalized portfolios, helpful tools, and commission-free trades on assets like stocks or ETFs. These apps also provide various learning resources like webinars and blog posts to help you navigate the world of investing.
Let’s take a closer look at the top investment apps for beginners in 2024:
SoFi Invest
SoFi Invest is a top choice for beginners due to its user-friendly interface and competitive pricing. With just $1, you can start investing with SoFi, and there are no commissions for trades or recurring account fees. Additionally, SoFi offers a managed portfolio product called SoFi automated investing, which is free to use.
One of the standout features of SoFi Invest is its easy-to-browse investment opportunities. You can explore categorized stocks and ETFs to find the right fit for your portfolio. Moreover, SoFi provides complimentary financial planning outside the app, allowing you to work with certified financial planners (CFPs) to set and achieve your financial goals.
What to look out for: SoFi does not offer automatic tax-loss harvesting.
Acorns Invest
Acorns is the perfect investment app for busy individuals who want to invest without the hassle of managing their portfolios. For $3 per month, Acorns takes care of everything, including automatic spare change investing, retirement account savings, and a fully automated investment plan.
With Acorns, you can invest in diversified portfolios of low-cost ETFs based on your risk tolerance and goals. The app’s simplicity is one of its greatest strengths, making it ideal for beginners. However, it’s important to note that there is a fixed fee regardless of your investment amount. Additional accounts and features, including investment accounts for children, come at an additional $9 per month.
What to look out for: Individual investment selection requires an additional fee.
Ally Invest
Ally Invest offers a straightforward investment platform that is well-suited for beginners. The mobile app allows you to trade stocks, ETFs, and options without any commissions. If you prefer a robo-advisor approach, Ally Invest Robo Portfolios creates personalized portfolios of ETFs for you.
The Ally Invest app is easy to navigate and provides access to market screeners, performance charts, stock analytics, and a Smart Score ranking. Cash-enhanced portfolios with a 0% advisory fee and market-focused portfolios with a 0.30% advisory fee are available. For a more hands-on experience, beginners can open a self-directed trading account with no minimum balance requirement.
What to look out for: Ally Invest requires a minimum investment of $100,000 for wealth management services.
TD Ameritrade
TD Ameritrade is an excellent choice for beginners who are interested in active trading. This platform charges no commissions for stock or ETF trades and offers multiple account platforms to cater to different investment styles and goals.
As a beginner, you can start with the main TD Ameritrade app and upgrade to thinkorswim as your skills grow. Thinkorswim is a feature-rich platform with useful tools for active traders. In addition, the app allows you to chat with expert traders, providing valuable insights and guidance.
What to look out for: TD Ameritrade’s managed accounts are no longer available for new clients, but you can still access managed accounts through their partner, Charles Schwab.
Public Investing
Public combines the features of social networks with traditional brokerage services, making it an ideal investment app for beginners. You can learn from experts’ portfolios by following their posts in the Public feed and participate in live investing events and conversations.
With Public, you can invest in over two dozen cryptocurrencies and purchase fractional shares of supported companies. The app also offers alternative assets like art and collectibles. Public is a great choice for both new and experienced investors looking to improve their investment strategy.
What to look out for: Public does not offer a wide range of investment options but covers stocks and ETFs effectively.
Stockpile
Stockpile provides commission-free stock and ETF trades, along with unique features that complement its fee structure. The app also allows you to invest in cryptocurrencies and offers fractional share investing. Stockpile stands out from the crowd with its ability to gift stocks through gift cards, making it perfect for teaching children about the stock market.
A Stockpile membership includes one adult account, five kids accounts, access to 4000+ stocks and ETFs, and more for $4.95 per month. You can also take advantage of the 30-day free trial to see if Stockpile meets your family’s needs.
What to look out for: Stockpile focuses primarily on stocks, ETFs, and crypto investments.
Introduction to Investment Apps for Beginners
Investment apps have revolutionized the way beginners participate in the stock market. These apps offer user-friendly interfaces, low trading fees, and educational content, making investing more accessible to a wider audience.
The appeal of investment apps for beginners lies in their simplicity and affordability. Many apps provide both mobile and web platforms, with advanced features available for more experienced investors. These features include personalized dashboards, riskier investment options, and additional tools for in-depth analysis.
Beginner Investment Apps FAQs
Why You Should Trust Us: Our Methodology
At investment, we prioritize helping beginners find investment apps that align with their needs. Our research is guided by Business Insider’s methodology, which focuses on costs, app features, types of accounts available, investment products, and beginner-friendly features.
We rate investment platforms on a scale of 0 to 5, ensuring that we recommend apps with low costs and the features beginners seek to manage their investments conveniently.
Now that you know the top investment apps for beginners in 2024, you can confidently choose the one that suits your investment style and goals. Start your investment journey today and watch your money grow!
