In some ways, today’s new investors are more fortunate than past generations, who had to slog through evening papers to get stock quotes. Never mind having real-time data available, or easy ways of comparing different investments.
That’s all changed, and it’s not just Gen Z-ers investing with mobile apps. It’s not uncommon to see baby boomers trading stocks or checking their portfolios on the go.
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Mobile investing apps have features designed especially for newer investors, who need education about the market itself, as well as mastering the process of buying and selling stocks and bonds, or trading options.
Some investing apps offer a wider range of financial services, such as banking or credit cards. Others offer special bonuses for users who make referrals.
Here are some mobile apps that are well-suited to market newbies:
— Webull.
— Robinhood.
— Wealthfront.
— SoFi.
— Betterment.
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Webull
Like other brokerages, Webull offers commission-free trading and a user-friendly customer experience. Users can trade stocks, bonds, options, exchange-traded funds and cryptocurrencies. There’s no minimum balance requirement.
The app offers real-time streaming market data via various levels of subscription. App users can buy fractional shares, an advantage for those without much money to invest.
“Webull provides advanced data and tools, making it interesting to newbies looking to advance their investment skills,” says Chad Harmer, founder and chief investment officer at Harmer Wealth Management in Clarington, Ontario, Canada.
“With features like paper trading and detailed graphing, it’s an excellent software for people wishing to play and gain confidence before investing real money,” Harmer adds.
Robinhood
Robinhood, which was among the first mobile apps to gain prominence, became popular during the COVID-19 pandemic. The app is designed for simplicity and accessibility, making it a frequent choice for beginner investors. It was one of the first online brokerages to offer fractional shares.
This app stands out for its gamified design that makes investing approachable for young and new market participants. It also offers free stocks for new users who link their bank accounts.
“Robinhood is a popular choice for beginners due to its user-friendly interface and commission-free trades on stocks, ETFs and cryptocurrencies,” says Christopher Berry, an elder law attorney and financial planner at Castle Wealth Group in Brighton, Michigan.
“The app’s straightforward design makes it easy for first-time investors to navigate, though its lack of in-depth research tools means it’s better suited for those with simpler portfolios or a focus on hands-on learning,” Berry adds.
Wealthfront
Wealthfront was originally known primarily as a robo advisor, and it still offers balanced, allocated portfolios using low-cost ETFs. For new investors, Wealthfront has an educational platform focusing on topics such as the pros and cons of individual retirement accounts and making the most of your money when interest rates drop.
Other Wealthfront features, such as portfolio lines of credit and high-yield cash accounts, are designed to keep users active on the app. Wealthfront is well positioned to keep users engaged as they age, as the app offers IRAs and 529 college savings programs.
“Wealthfront provides powerful tools for goal-setting and financial planning, which are especially useful for beginning investors who are confused (about) how to arrange their portfolios,” Harmer says.
Harmer adds that Wealthfront’s automated rebalancing and tax-loss harvesting capabilities assist in maximizing returns while minimizing tax implications.
SoFi
SoFi is a full-service financial platform, offering personal loans, mortgage loans, banking, investing, credit cards and insurance, among others. SoFi incentivizes referrals with payments.
The SoFi mobile app offers an integrated way of managing the full spectrum of personal finances. As with other investing apps, users can trade stocks, ETFs and cryptocurrencies, in addition to tracking spending and monitoring financial goals.
“SoFi is a fantastic hybrid solution, including educational resources, automatic investing and the flexibility to buy individual stocks or ETFs,” Harmer says.
He adds that the company’s emphasis on financial wellness, which includes access to advisors, makes it an especially stable option for beginning investors.
Betterment
Betterment was among the first robo-advisor platforms offering automated, low-cost investing. With features like high-yield cash accounts and socially responsible investing options, Betterment has tailored its offerings for new investors and young users.
“I really like Betterment for investors just starting out,” says Carman Kubanda, a certified financial planner at Innovative Wealth Building in Fort Worth, Texas.
“They do a great job of automating the process and making it very user-friendly. They use a goals-based approach to investments and will recommend a portfolio based on time horizon and risk tolerance,” Kubanda says.
He cites automatic rebalancing and tax-loss harvesting as notable Betterment features.
“For people just starting on their investing journey, I’ve seen this be a very useful and easy tool to get started,” Kubanda says. “It takes a lot of the guesswork out of the picture and can be a great tool to start building wealth.”
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5 Best Investment Apps for Beginners in 2025 originally appeared on usnews.com
Update 01/09/25: This story was previously published at an earlier date and has been updated with new information.
