Most finance companies and brokerages now have mobile apps where their customers can access their services on the go. The best investing apps allow users to open accounts, buy investment products, and stay up to date about the happenings of the investment market with just a tap on their phones.
The investing app you choose goes a long way in whether or not you will achieve your investment goals. So, before choosing one, you need to consider certain factors like security, user experience, and efficiency.
We have reviewed 20 investment apps based on customer reviews, efficiency, user experience, cost, security, and customer support systems. Here are the top eight investing apps of 2024.
SoFi: One of the Best Investing Apps for All-in-One Financial Management
SoFi, short for Social Finance, is a versatile financial platform that goes beyond just investing. With SoFi, you can invest in stocks, ETFs, and even cryptocurrencies. The app offers commission-free trading, making it cost-effective for frequent traders.
It also offers other financial services. Users can access personal loans, student loan refinancing, and even banking services through the same app. This makes it an excellent choice for those who want to manage various aspects of their finances in one place.
WeBull: Best App for Advanced Trading Tools
WeBull is the best investing app for more experienced investors who appreciate in-depth analysis tools. The app provides advanced charts and real-time market data to help users make informed trading decisions.
One of WeBull’s standout features is its paper trading function. Users can use this feature to practice trading strategies using virtual money before risking real money. It’s an excellent way for new investors to learn the ropes without financial risk.
Fidelity: Best App for Research and Education
Fidelity’s mobile app is an excellent choice for investors who want to make well-informed decisions based on thorough analysis. The app provides access to expert insights, market news, and detailed company information. Users can view analyst ratings, read research reports, and even attend webinars to enhance their investing knowledge.
Fidelity also offers a range of investment options, including stocks, ETFs, mutual funds, and bonds. The app provides tools to help users build diversified portfolios aligned with their financial goals.
M1: Best Investing App for Customizable Portfolios
M1 Finance stands out as one of the best investing apps with its unique “pie” investing model. This approach allows users to create customized portfolios (or “pies”) by selecting stocks and ETFs and assigning them specific percentages within the portfolio.
The app automatically rebalances your portfolio to maintain your chosen allocations. This feature is particularly useful for investors who want a hands-on approach to building their investment strategy while still benefiting from automated management.
Ally Invest: Best App for Integrated Banking and Investing
Ally Invest is part of Ally Financial, known for its online banking services. The app integrates seamlessly with Ally’s banking platform, making it easy for users to move money between their bank accounts and investment portfolios.
One of Ally Invest’s strengths is its user-friendly interface. The app is easy for beginners to navigate while still offering advanced features for more experienced investors.
Acorns: Among the Best Investing Apps for Automated Investing
Acorns is a micro-investing platform that takes a unique approach. The app rounds up your everyday purchases to the nearest dollar and invests the spare change.
This “invest the change” model makes it easy for users to start investing without thinking about it. Acorns offers several pre-built portfolios based on different risk tolerances, making it simple for beginners to get started.
The app also provides educational content to help users learn about investing principles. While the monthly fee might be high for users with very small account balances, it can be a great way for beginners to start building wealth gradually.
Public: Best Investing App for Social Investing
Public is an app that combines investing with social media. The app allows users to see what stocks other investors are buying and selling, and this creates a community for investors.
Users can follow other investors, share their trades, and have discussions about various investment opportunities. This social aspect can be particularly appealing to younger investors who are used to sharing experiences on social media.
Public offers commission-free trading for stocks and ETFs, as well as the ability to buy fractional shares. The app also provides some educational content to help users make informed investment decisions.
Charles Schwab: One of the Best Investing Apps for Comprehensive Investment Services
Charles Schwab’s mobile app offers a wide range of investment options, including stocks, ETFs, mutual funds, and more. The app provides research tools, including real-time data and analysis from various sources. Users can also access Schwab’s robo-advisor service, which creates and manages diversified portfolios based on individual goals and risk tolerance.
One of Schwab’s strengths is its customer service. The app allows users to easily connect with support representatives, which can be particularly helpful for those new to investing.
Sources
- https://www.nerdwallet.com/best/investing/investment-apps
- https://www.usatoday.com/money/blueprint/investing/best-investment-apps/
- https://www.forbes.com/advisor/investing/best-investment-apps/
- https://www.businessinsider.com/personal-finance/investing/best-investment-apps-for-beginners
- https://edition.cnn.com/cnn-underscored/money/best-investment-apps
