Investing apps can make it easier for beginners to place trades on the go. In addition, today’s apps have educational content to help newbies understand market dynamics.
But no app offers the magic formula for investing success.
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Instead, they’re simply tools to access a brokerage’s services. In principle, it’s not so different from the technology of a few decades ago, when investors would call their broker to place a trade or get access to research about a stock.
“The best investing app is the one that turns you into a boring, consistent investor, not a bored one hunting for action,” says Stoy Hall, a certified financial planner (CFP) and CEO of Black Mammoth in Ankeny, Iowa.
“The app is just the tool; the habit is the wealth,” he adds.
Here’s a look at seven of the most popular apps for new investors:
— Fidelity
— Charles Schwab
— Robinhood
— SoFi Invest
— Webull
— Acorns
— Betterment
Fidelity
As the interface for a major brokerage company, the Fidelity app allows users to trade stocks, crypto, exchange-traded funds (ETFs), options, mutual funds and fixed income, all without a commission.
Investors can also buy fractional shares starting with as little as $1 and make recurring automated purchases.
Fidelity also offers services such as bill pay and check deposits.
“If someone asked me where to open their first account, this is usually one of the options,” says Noah Schwab, CFP and owner of Stewardship Concepts in Spokane, Washington.
“Zero-commission trades and no-minimum index funds mean a beginner can start with $50 and not get nickeled to death, and the education library is genuinely good rather than a marketing funnel,” he adds.
Charles Schwab
This app puts research and education front and center, making it great for those who want to learn about investing. Research offerings include interactive charts, option chains and AI-powered insights into portfolio performance.
In addition to trading stocks, options, ETFs and mutual funds, investors get access to the thinkorswim platform for advanced users. While a true beginner could make use of these features, it may be a little too much for some, says Taylor Price, a Gen Z personal financial expert and founder of Priceless Tay in Naples, Florida.
“For more advanced investors, I love and use Charles Schwab,” she says. For investors who want to dive into financial analysis, the Schwab platform offers more technical data than some rivals, she adds.
Robinhood
When people were stuck at home during the pandemic with stimulus checks and no sports to bet on, Robinhood was ready to grab some of their attention and dollars.
The company had a head start in the race for commission-free trades, which attracted young and new investors. Robinhood understood platform stickiness, as evidenced by its confetti animations, ease of purchasing fractional shares and a sophisticated mobile user interface.
All of this combined to make investing feel approachable and fun to first-time retail investors.
“Robinhood is the simplest way on Earth to place your first trade, and that low barrier is a genuine strength,” Hall says.
The same frictionless, gamified design that makes it easy to start also makes it easy to treat investing like a slot machine, he adds.
“Perfect for buying your first index fund. Dangerous if it turns you into a day trader,” Hall says.
SoFi Invest
SoFi offers a broad range of services designed to guide consumers toward keeping all their financial accounts and transactions under one umbrella.
Besides investments, SoFi customers can take out student loans or mortgages, open a credit card, trade crypto or open a checking account. The company also offers business services.
“SoFi is especially approachable for someone who may feel intimidated by investing,” says Jon Lapp, a CFP and financial planner at Haven Financial Advisors in Manheim, Pennsylvania.
“The app is easy to navigate, and the combination of automated investing and access to financial planning can help a beginner get started without feeling like they need to understand everything first,” he adds.
However, Lapp says he’s concerned that investing apps including SoFi may conflate ease of trading with good investing.
“The best platform is the one that encourages consistent contributions, diversification and a long-term plan rather than frequent trading,” Lapp says. “SoFi does offer a broad range of financial products outside of investing, so they are often a recommendation I give to someone looking for a one-stop shop.”
[Read: 5 Best Stocks for Beginners with Little Money]
Webull
Webull is a zero-commission trading app popular with active, tech-savvy traders. It offers stocks, ETFs, options and crypto.
Features that attract new and seasoned investors include advanced charting, extended trading hours, paper trading and AI-powered market news.
But there are some limitations: Investors who want to buy mutual funds must open an IRA account, and Webull doesn’t offer forex trading.
However, Webull’s charting capabilities are a strength, Noah Schwab says. “If someone genuinely wants to learn technical analysis, the tools are there.”
However, he says technical analysis may teach a new investor to think in days instead of a decades-long time horizon. “The skill a beginner needs most is doing nothing for long stretches, and no charting package teaches that,” he adds.
Acorns
This app’s claim to fame is that it automatically invests spare change, removing some friction from the process of investing. Acorns also offers automated retirement accounts called Acorns Later, as well as custodial accounts for kids, dubbed Acorns Early Invest. The company’s debit card funnels rewards straight into users’ portfolios.
The app builds diversified ETF portfolios based on your individual risk tolerance, with the idea of encouraging a consistent, low-effort habit of investing.
“I’ve been using Acorns since 2020 to invest without overthinking it,” Price says. The app is especially well suited to the “spender” personality type. For those who struggle to save intentionally, Acorns removes the decision-making.
“If you’re a beginner, this is where I’d start,” Price says.
Betterment
Betterment is best known as a platform for balanced ETF portfolios.
It also offers automated portfolio rebalancing, which means investors never have to think about what holdings to buy or sell. Betterment features include tax-loss harvesting, goal-based planning and a high-yield cash account.
Premium users get unlimited access to CFPs as well. And the app rounds out its retirement suite with traditional and Roth IRAs, as well as Simplified Employee Pension IRAs for self-employed investors.
Betterment, says Hall, is the top choice for someone who wants no part of picking stocks or funds.
“Answer a few questions and it builds and rebalances a diversified portfolio for you, automatically, forever,” he says.
“Yes, there’s a small management fee, but for a beginner that fee buys the single most valuable thing there is: you leaving it alone,” Hall adds. “Set it, automate it, walk away.”
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7 Best Investing Apps for Beginners originally appeared on usnews.com
Update 07/30/26: This story was published at an earlier date and has been updated with new information.
