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The Best Stock Investment Apps For Beginners

Last modified: Sep 29, 2022

If you have never invested before, you might be wondering how difficult it is to get started or what the best stock investment apps for beginners might be. 

In this article, we will explore those and many other questions in detail. Let’s get started!

How to Start Investing as a Beginner

Of course, many people are hesitant to start investing in stocks and shares because they don’t know much about the stock market, how investing works, and where best to place their money, which means they miss out on the potential rewards that investment can bring.

The good news is that it’s very easy to get started in the world of investment these days. Why? Because there are so many investment apps that will not only teach you the basics of investing but will also do most of the work for you.

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1. SoFi Investment APP
  • No fees for automated trading investments
  • Easy to use
  • Highly rated
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2. Acorns Investment App
  • Kid friendly
  • Automated
  • Just $5 per month
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3. Ally Invest Best for: Passive investors
  • Zero-fee trading
  • Checking and savings accounts
  • User-friendly
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4. Public Investment App Best for: Social investors
  • Fee-free trading
  • Expert trader chat
  • User-friendly interface
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5. TD Ameritrade Best for: Active trading
  • Great all-rounder
  • Low fees
  • Multiple account platforms
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6. Robin Hood: Best for No commission trading
  • No commissions
  • Wide range of investment options
  • User-friendly
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7. Betterment: Best for Automated trading
  • Socially responsible investing
  • Robo-advisors
  • Low fees
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8. Stockpile: Best for Gamers
  • Fun
  • User-friendly
  • Affordable
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9. Wealthbase: Best for Contests
  • Games
  • Combination of social media and stock picking
  • Impressive interface
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10. Wealthfront Best for Portfolio management
  • Affordable
  • Effective cash management
  • User-friendly

Detailed Reviews

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1. SoFi Investment APP
Pros
  • Free to use
  • User-friendly
  • $1 investment minimum
Cons
  • No in-depth investment research

SoFi is our number one when it comes to the best stock investment apps for beginners. We chose it because of its low $1 starting investment requirement, its easy-to-use interface, and the fact that there are no recurring fees or any commissions charged on trades.

If you’re looking for an app that is simple, effective, and free to get you started, it really would be hard to beat.

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2. Acorns Investment App
Pros
  • Automated investments
  • Child-friendly
Cons
  • Fees are always charged no matter how much or little you invest.

Acorns is the perfect investment app for people who want to invest and grow their wealth but don’t want to be at all hands-on in the process of managing a portfolio. 

For just $5 per month, Acorns will take care of your investments for you, even allowing you to automatically round up spare change and invest it in the most promising stocks. It also enables you to open accounts for your children so they can start learning about money management early on.

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3. Ally Invest Best for: Passive investors
Pros
  • Simple interface
  • Robo advisors
  • No advisory fees
Cons
  • No bells and whistles

The most significant benefit of Ally Invest for beginners is that it’s straightforward. There are no bells and whistles. But that just makes it easier for you to get started with trading without any fuss.

This app also has a robo-advisor option, so if you’d rather be hands-off, you can automate your investment portfolio.

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4. Public Investment App Best for: Social investors
Pros
  • Intuitive interface
  • Social interactions
  • Fractional shares as low as $5
Cons
  • Not ideal if you want to invest without the social aspect

Public helps you learn more about the process of investing in stocks and shares. It combines features of Facebook and Twitter with traditional brokerage features, so you can intuitively learn the ropes while making your first trades. You can even chat with other users and set up your own groups where you can learn together and share tips.

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5. TD Ameritrade Best for: Active trading
Pros
  • Expert support via chat
  • No fees
  • Numerous investment options
Cons
  • Lots of options, so it can be a bit overwhelming for beginners

With no commissions on ETF or stocks, you can jump right in and start making your first investments with ease. TD Ameritrade has created a user-friendly app that allows you to chat with investment experts if you aren't sure what you should do or need some advice on a new trade.

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6. Robin Hood: Best for No commission trading
Pros
  • Easy to use
  • Numerous trading options, including cryptocurrencies
Cons
  • Lacking on the informational and educational side of things

Robinhood is one of the first no-commission investment apps, which remains one of the best today. With no commissions and a stripped-back interface, it’s easy to get started on the stock market. However, it’s worth bearing in mind that Robinhood has been linked to a number of controversies surrounding investors who didn’t understand the risks.

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7. Betterment: Best for Automated trading
Pros
  • Automated experience
  • Ethical trading
Cons
  • Very hands-off

Betterment is one of the best and biggest robo-advisor platforms. So, if you are looking to invest in the stock market without all the hassles of picking your own stocks and shares, then it’s definitely a useful tool to have at your disposal.

One of the best things about this app is that it lets you design socially responsible portfolios based on ESG (Environmental, Social, and Governance) criteria. So, you can invest your money in funds that align more closely with your everyday values. It’s good to feel that your money is doing some good, and this app really helps you feel that no matter how much you choose to invest.

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8. Stockpile: Best for Gamers
Pros
  • Fractional share investing
  • Simple interface
  • Gift cards
Cons
  • Lack of information on trading

Stockpile is one of the best apps for beginners because it enables you to buy fractional business shares. This means that if you don’t have enough money to buy a whole share in that up-and-coming company, you can buy part of a share and still cash in on its (hopefully stratospheric) rise. 

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9. Wealthbase: Best for Contests
Pros
  • Games and competitions
  • Social stock sharing
  • Fun interface
Cons
  • Not ideal if you just want to pick stocks and not engage with the community

Wealthbase is one of the most modern trading apps on the market, which has fully embraced the world of gaming. This may sound strange, but by gamifying the process of investing, not only does Wealthbase make it more fun, but it also helps you learn more about the world of investing. Try out its stock simulator, and you will be well and truly bowled over.

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10. Wealthfront Best for Portfolio management
Pros
  • Automated management
  • Low fees
  • Cash management made simple
Cons
  • Account management fee of 0.25%

Wealthfront is one of the biggest robo-advisors in the world, and it’s undoubtedly one of the best. For a small fee, it will manage your portfolio so you can sit back and do something more interesting. 

You can choose how much you want to invest and how much risk you want to take, and it will do the rest. So, if you know that investing in stocks is the right thing to do, but you don’t want to actually be responsible for doing it, download Wealthfront and let the app do the rest.

Investing Guide for Beginners

If you have never invested your money before, you may be wondering how to get started and what to do to make a pot of cash.

Hopefully, this guide will help answer some of your most pressing questions and give you the confidence you need to start trading as soon as possible.

How Much Money Do I Need to Get Started?

Technically, you can start investing with as little as $1, although many of the biggest and best trading platforms will have a minimum initial investment of anywhere between $10 and $500.

Many people think you need to have a huge amount of money at your disposal to get started with trading, but that is really not true.

In fact, investing a small amount of money is often a good idea when you are a beginner because it enables you to test the waters and get to know the world of stocks and shares before you risk more of your capital.

Which Investment App Is Best for Stock Traders?

All of the apps we have listed are great for stock traders. But we think that, overall, SoFi is probably the best app for budding new stock traders. Why? Because it allows you to spread your risk evenly and offers financial planning tips to help you make the right choices.

What Is the Best Investment App for Beginners?

All of the apps we have listed fall into the category of best stock investment apps for beginners, but if you are looking for one app that is easier to use than others, Acorns is a good choice as it simplifies everything nicely. Additionally, it has accounts suitable for children.

What Assets Can I Trade on These Apps?

With online broker apps, you’ll be able to trade securities, such as bonds, stocks, ETFs, and options. On the other hand, educational apps don’t allow you to trade with real money. It’s always worth doing your homework to see which assets are more likely to appreciate, which are riskier, and which suit your ethical requirements best. 

That being said, many of the apps will enable you to set your own parameters regarding your preferred investment options so that you’ll have access to the most relevant stocks and shares.

Are Investing Apps Safe?

Yes, generally speaking, investing apps are very safe. Provided that you download them from the official sources, you won’t need to worry about having your data stolen or anything of that nature.

If your app has password protection, biometric identification, etc., you can feel confident that the only person who will be accessing it is you.

Of course, investing in stocks and shares is inherently risky — there is no such thing as a sure thing — so you should think carefully before investing and, if necessary, take professional financial advice.

What Are the Best Stocks for Students?

It’s hard to say for sure because a good investment can turn into a bad one very quickly, depending on various factors like the economy and the availability of a specific commodity. But many students find that investing in commodities like gold and silver or Fortune 500 companies is a safer bet.

Can I Trade for Free?

Yes, it’s possible to trade for free using many of the apps we have talked about today. However, if you reach a certain threshold, as determined by the investment app you are using, you will usually need to pay a percentage of your holdings in fees.

Can I Invest for Free?

Yes, as mentioned above, it’s possible to invest for free up to a point.

Are Investing Apps Worth It?

If you want to make money, invest in your future, and learn more about the stock market, then investing apps are absolutely worth it, provided that you use one of the best stock investment apps for beginners. They make the whole process of investing simple and understandable and help you secure a much more financially stable future.

Policy Advice is a website devoted to helping everyday people make, save, and grow money. While our team is comprised of personal finance pros with various areas of expertise, nothing can replace professional financial, tax, or legal advice.

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