Top 9 Investment Apps for Beginners in 2023 - Invest Smarter with These User-Friendly Platforms

Investing can be a daunting task, especially for beginners who are just starting to dip their toes into the world of finance. However, with the advent of technology, investing has become more accessible than ever before. Investment apps have made it easy for beginners to get started and invest their money in a variety of assets, including stocks, mutual funds, and cryptocurrencies. In this article, we will look at some of the best investment apps for beginners.

1. Robinhood

Robinhood is a commission-free investment app that is popular among beginner investors. The app allows users to invest in stocks, ETFs, and cryptocurrencies without paying any commission fees. Robinhood is designed to be easy to use, and its interface is user-friendly, making it ideal for beginners. The app also offers a variety of educational resources to help beginners learn about investing and trading.

One of the standout features of Robinhood is its fractional share investing, which allows users to buy a portion of a stock rather than a whole share. This feature makes it possible for users to invest in expensive stocks like Amazon or Tesla with a small amount of money.

2. Acorns

Acorns is an investment app that is designed to help users save and invest their spare change. The app works by linking users’ debit or credit cards and rounding up purchases to the nearest dollar. The spare change is then automatically invested in a portfolio of ETFs.

Acorns is ideal for beginners who want to start investing but don’t have a lot of money to spare. The app has a low minimum investment of $5 and charges a monthly fee of $1 to $5, depending on the level of service. Acorns also offers a variety of educational resources to help beginners learn about investing.

3. Stash

Stash is another investment app that is designed to help beginners start investing with small amounts of money. The app allows users to invest in a variety of ETFs and individual stocks, and it has a low minimum investment of just $5.

Stash offers a variety of educational resources, including articles and videos, to help users learn about investing. The app also has a feature called Stash Learn, which offers courses on topics like investing basics and retirement planning.

4. Betterment

Betterment is a robo-advisor that is designed to help users invest their money in a variety of ETFs. The app uses an algorithm to create a personalized portfolio for each user based on their investment goals, risk tolerance, and time horizon.

Betterment is ideal for beginners who want a hands-off approach to investing. The app has a low minimum investment of $10 and charges an annual fee of 0.25% of the account balance. Betterment also offers a variety of educational resources, including articles and videos, to help users learn about investing.

5. Wealthfront

Wealthfront is another robo-advisor that is designed to help users invest their money in a variety of ETFs. Like Betterment, Wealthfront uses an algorithm to create a personalized portfolio for each user based on their investment goals, risk tolerance, and time horizon.

Wealthfront is ideal for beginners who want a hands-off approach to investing. The app has a low minimum investment of $500 and charges an annual fee of 0.25% of the account balance. Wealthfront also offers a variety of educational resources, including articles and videos, to help users learn about investing.

6. Coinbase

Coinbase is an investment app that is designed for users who want to invest in cryptocurrencies like Bitcoin and Ethereum. The app allows users to buy, sell, and store cryptocurrencies, and it has a user-friendly interface that is easy to use.

Coinbase is ideal for beginners who want to invest in cryptocurrencies but don’t know where to start. The app offers a variety of educational resources, including articles and videos, to help users learn about cryptocurrencies and how to invest in them. Coinbase also offers a feature called Coinbase Earn, which allows users to earn cryptocurrencies by watching educational videos.

7. TD Ameritrade

TD Ameritrade is a brokerage firm that offers an investment app for users who want to trade stocks, ETFs, and options. The app has a user-friendly interface that is easy to use, and it offers a variety of tools and resources to help users make informed investment decisions.

TD Ameritrade is ideal for beginners who want to actively trade stocks and other securities. The app has a low minimum investment of $0 and charges a commission fee of $0 per trade. TD Ameritrade also offers a variety of educational resources, including articles, videos, and webinars, to help users learn about investing and trading.

8. Charles Schwab

Charles Schwab is another brokerage firm that offers an investment app for users who want to trade stocks, ETFs, and options. The app has a user-friendly interface that is easy to use, and it offers a variety of tools and resources to help users make informed investment decisions.

Charles Schwab is ideal for beginners who want to actively trade stocks and other securities. The app has a low minimum investment of $0 and charges a commission fee of $0 per trade. Charles Schwab also offers a variety of educational resources, including articles, videos, and webinars, to help users learn about investing and trading.

9. Fidelity

Fidelity is a brokerage firm that offers an investment app for users who want to trade stocks, ETFs, and options. The app has a user-friendly interface that is easy to use, and it offers a variety of tools and resources to help users make informed investment decisions.

Fidelity is ideal for beginners who want to actively trade stocks and other securities. The app has a low minimum investment of $0 and charges a commission fee of $0 per trade. Fidelity also offers a variety of educational resources, including articles, videos, and webinars, to help users learn about investing and trading.

Conclusion

Investment apps have made it easier than ever for beginners to invest their money in a variety of assets. From commission-free stock trading apps like Robinhood and low-cost robo-advisors like Betterment and Wealthfront, to cryptocurrency trading apps like Coinbase, there are a variety of options for beginners to choose from. It’s important to do your research and choose an app that aligns with your investment goals and risk tolerance. With the right investment app, beginners can start building wealth and achieving their financial goals.