Smartphones make it easy to access information at any time, and what better way to make use of technology than to grow your money?
In the past few years, loads of new financial apps have been released, and some older ones have been improved. In the past, we’ve looked at apps for saving money, apps for making money, and budgeting apps. Today, we’ll shift our focus to the best investment apps.
Many of these apps have been created with new investors in mind, which means you can get started with small amounts of money. Many of them will also prioritize ease of use and some offer additional learning and educational resources that can help you to become a better investor.
|M1 Finance||Free automated investing||$30 signup bonus|
|Robinhood||Commission-free trades of stocks, ETFs, and options||Free stock when you sign up|
|Public||Social investing||Up to $5 signup bonus|
|Webull||Commission-free trades of stocks, ETFs, and options||Free stock when you deposit $100|
|Stash||Buy fractional shares||$5 bonus when you invest at least $5|
|Nvstr||Social aspect allows you to benefit from collaborative wisdom||Up to $1,000 signup bonus|
10 of the Best Investment Apps
Please note that these are in no particular order as all of these apps have their own pros, cons, and unique features. Ultimately, it will be up to you to choose one that best fits your needs and taste.
1. M1 Finance
M1 Finance is a hybrid robo advisor and brokerage service. With M1 Finance you can invest automatically in a custom stock and ETF portfolio. You can choose from 80 pre-made portfolios, or create your own custom portfolio. One of the reasons why M1 Finance stands out is because it’s free, unlike other robo advisor services that charge fee. You can even buy fractional shares with M1 Finance. All you need to do is choose the portfolio that you want to use and deposit money. It’s simple, effective, and free. Read our M1 Finance review to learn more.
M1 Finance – Pros
- Unlike most asset managers that rebalance your portfolio on a monthly basis, you can rebalance with M1 Finance whenever you want.
- You can open several types of account: individual, joint, retirement, trust, LLC, and a corporate investment account.
- There are no fees or commissions so you can buy and sell and rebalance frequently. There are still fees such as SEC and FINRA TAF, but they are minimal.
- You can borrow up to 35% of your account balance in M1 at an annual interest rate of 3.75%. This can be risky, but also very beneficial and an easy way to capitalize without loan officers or any sort of approval process.
- You can easily create a diversified portfolio.
- Good for all experience levels, especially beginners thanks to “pies”.
- You can setup recurring investments and rebalance automatically.
- It helps reduce the amount owed on taxes.
M1 Finance – Cons
- Can only invest in stocks and ETFs. No mutual funds, bonds, cryptocurrencies. And the only stocks available are ones in NASDAQ and NYSE.
Robinhood is a very popular mobile app that makes it easy to buy and sell stocks, ETFs, and cryptocurrencies. The company has had a significant impact on the industry by offering free trades and no minimum investments, making it a great option for beginners. With the free signup bonus, Robinhood is one of the best ways to get free stocks. Learn more details in our Robinhood review.
Robinhood – Pros
- This is where Robinhood shines and makes up for its simplicity; it provides 100% commission-free stocks, options, ETFs, and the ability to invest in cryptocurrencies, which is in itself another massive upside to Robinhood. Investors who trade often will love Robinhood as it saves them lots of money on commissions and trading fees.
- Robinhood has no account minimum, so you can get started as soon as you like. You will obviously need money to purchase a share or a cryptocurrency, but you don’t need to put $25,000, as you do in Personal Capital, into the account to start investing.
- Robinhood is very easy and quick to use. It takes a few minutes to open up the account and only one business day to transact anything under $1,000. Anything above that will take a few more days.
- Robinhood Gold allows investors to trade on margins, meaning with borrowed money, at a relatively low monthly fee of $5.
Robinhood – Cons
- Mutual funds and bonds are not supported. Nor is the ability to reinvest dividends into the security that issued them.
- Only one account option is available – the brokerage account.
- Customer support is only available through email, though their website is very helpful.
Public is an investing app that is similar to Robinhood in a lot of ways, but it has a social twist (it’s sort of a cross between an investing app and a social network). Like Robinhood, you can purchase fractional shares and trade commission-free. Public also has no minimums, which means you can get started with any amount of money. Public will even give you some money for a stock of your choice when you create an account through this referral link.
The social aspect of Public allows you to follow other investors, learn from their trades, and join in conversations about investing. You can even start your own group or join existing groups to connect with other users. Whether you’re interacting with your friends or people you’ve met through the app, the social aspect can be a lot of fun. Read our Public review to learn more.
Public – Pros
- Buy and sell stocks and ETFs with zero commissions.
- Purchase fractional shares if you don’t have enough money (or don’t want to invest enough money) to buy an entire share.
- Interact with other users and investors, including your friends, through the social aspect of Public.
- You can get free money to invest as a signup bonus (if you sign up through this referral link).
Public – Cons
- The data and analysis provided through the app is fairly limited.
- The investment options are somewhat limited.
Like Robinhood, Webull also offers free trades on stocks and ETFs, although it does not allow you to trade options or crypto. Webull also requires no account minimum, making it another great option for new investors.
While Robinhood is a little more simple, Webull offers advanced reporting and analysis features that many investors will love. Learn more in our Webull review.
Webull’s features include fundamental and technical analysis available for intermediate and advanced investors:
- Fundamental – Analyst recommendations, revenue and historical eps data, key stats, dividends, etc.
- Technical – Real-time bar, candlestick and line charts, oscillators, MACD, etc.
- Research – Markets, news, screeners, and individual stock page.
→ Related reading: Legit Ways to Get Free Stocks
Webull – Pros
- Commission-free trading with 5,000+ different stocks and ETFs.
- No account maintenance or software platform fees.
- No charges to open and maintain an account.
- Leverage of 4:1 on margin trades made on the same day and 2:1 on ones held overnight.
- Great analysis tools.
Webull – Cons
- Cannot trade options, mutual funds, OTC stocks, or bonds.
- Only email customer support, but quick response time and great FAQ.
5. Personal Capital
Personal Capital offers wealth management services that are somewhat of a hybrid between a robo advisor and a traditional financial advisor. As a Personal Capital client, you will have a dedicated advisor, but they also make excellent use of technology.
In addition to wealth management services, Personal Capital offers a totally free app. You don’t need to be a customer to use the app, and the app has a ton of awesome features like net worth calculation and tracking, and reporting tools that pull in data from your various investments. It’s easily one of the best financial and investment apps.
Personal Capital – Pros
- Personal Capital is a combination of a human advisor and robo advisor. The goal is to give you the best of both worlds.
- They have many other products that help your financial life and many of them are free. For example, they can help manage your net worth as well as liquid net worth, scan your portfolio for any hidden or excessive fees, manage your cashflow, budget for you, and many more things. All for free.
- There are no hidden fees, selling products with kickback, and no selling underperforming products.
Personal Capital – Cons
- Fees are significantly higher for Personal Capital than many of its competitors (but Personal Capital provides many great, unique services as well. However, management and other fees may be too expensive for you, at 0.49% to 0.89%, which are much higher than like Wealthfront, which is only 0.25%).
- You need $25,000 minimum to invest with Personal Capital.
- You must manually input certain investments and expenses to track them on your dashboard, even though most of them do get automatically added by connecting your various bank accounts, credit cards, etc.
Nvstr is kind of like Public in the fact that you can invest and connect with other users. Although the two apps share some similar objectives, they function very differently. Nvstr allows you to invest in individual stocks as well as ETFs. Unlike some of the other apps, the trades are not commission-free. There is a fee of $4.50 per trade, or you can pay $4 per month for a membership, which gives you 20 free trades per month. So if you’re going to make at least one trade per month, it’s cheaper to go with the membership.
There are some nice features that Nvstr has to offer, including one-click portfolio allocation. You can also follow expert investor strategies to learn and improve your own investments. Read our Nvstr review to learn more.
Nvstr – Pros
- The one-click portfolio allocation can be a big time-saver.
- Like Public, Nvstr has a social aspect.
- The “collective wisdom” available through Nvstr can be a great learning tool.
- Free signup bonus if you create an account through this referral link.
Nvstr – Cons
- You must pay a fee of $4.50 per trade or pay $4 per month for a membership.
- The investment options are limited.
Acorns is a unique automated savings tool. You can automatically invest leftover change from your everyday purchases with their round-up feature. Acorns offers micro-investing, making it possible for anyone to start investing, even with very small amounts of money. Learn more in our Acorns review.
Acorns – Pros
- Management fees are waived for college students for 4 years who register with a .edu email. After 4 years, students may have saved up and earned a substantial amount of money.
- Acorns automatically takes spare “change” from every single purchase and invests it. With each purchase, Acorns rounds up to the nearest dollar and allows you to invest it. As it is automatic, you won’t have to do much work and it is saving you lots of time and money.
- Low minimum of $5 to start investing into one of the prebuilt portfolios.
- Cashback when you use a card, from a company that Acorns is partnered with, linked to Acorns.
Acorns – Cons
- Quite high management fees of $1 a month for an Acorns Core taxable investment account, $2 a month for Acorns Later, an IRA account, and $3 a month for Acorns Spend, the checking account and debit card offering, which includes the investment accounts.
- You have a choice of 5 portfolios and all of them are smaller than average robo-advisor portfolios
Stash offers investing, saving, and banking, with a focus on new investors. You can get started with as little as $5 and build your own custom investment portfolios. The investments will be in stocks and ETFs and you can also benefit from the learning resources created by Stash. Learn more in our Stash review.
Stash – Pros
- Makes the process of selecting investments much easier for beginners. And you only need $5 to start.
- You can buy various fractional shares.
- Offers investments based on value and your risk tolerance.
Stash – Cons
- The subscription fees are high. $1 a month for the brokerage account and a bank account. $3 a month that adds a retirement account.
- ETF expenses are high – 0.30%.
- Doesn’t provide lots of detail and transparency about their fees and investment options.
Stockpile is unique because you are able to give stocks to others as a gift. You can make your own wishlist of stocks and share it with others. Stockpile also makes it easy to get started by requiring a low minimum of just $5, and also by allowing the purchase of fractional shares.
→ Related reading: Robinhood vs. Stockpile vs. Webull
Stockpile – Pros
- You can buy and receive gift cards (starting at $5 and going to $100) that allow you to purchase specific stocks, some of which are Apple, Google, Amazon, Berkshire Hathaway, Disney, Microsoft, McDonald’s, and even Bitcoin Investment Trust
- There are no monthly or annual fees, only a very low trading fee of only $0.99 for each trade
- You can buy fractional shares
Stockpile – Cons
- Only have access to two types of accounts: a taxable and a custodial (for children, anyone under 18) one
- Can only invest in stocks and ETFs. No bonds, options, or mutual funds
- Before 3 p.m. trades are executed the same day, but after 3 p.m. trades are executed the next day
10. Atom Finance
Atom Finance is different than the other investing apps covered here because you won’t actually be investing through Atom Finance. Instead, Atom Finance provides information and data that can help you to make better investment decisions.
Most of the investment apps listed above provide some sort of data or analysis tools, but they’re generally very limited. Professional investors use data extensively, but the traditional tools and resources used by the pros are expensive and out of reach for most people. Atom Finance wants to make that valuable data accessible to the average investor.
The Atom Finance app can be downloaded and used for free. They also offer a premium plan for $9.99 per month, but most users will get what they need from the free plan. The free plan includes breaking news and alerts, daily market briefings, real-time stock quotes, historical company financials, and some limited data in other categories.
Atom Finance – Pros
- You can get news and insights for free.
- Get access to data that isn’t available with most other investing apps.
- A premium plan is available for those who want to dig deeper.
Atom Finance – Cons
- The data available with the free plan is good but limited.
There are a ton of investing apps available on the market. Some are certainly significantly better than others. It is up to you to weigh the pros and cons of these apps, see what your own needs are and how knowledgeable you are about investing, to pick the correct investing app for you.