Best investment apps

By Jing Pan

Fact Checked: Scott Birke

🗓️

Updated: December 22, 2023

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When it comes to picking the best investment apps, there are more quality choices than ever, thanks to the recent explosion in popularity of online investing platforms.

Choosing the best investment app for you will depend on your financial goals, timeline, investment preferences and more. Some of the best investment apps for beginners focus on ease of use and low fees, while others are geared toward experienced traders looking for advanced research and financial tools. And some other good investing apps are designed for trading specific assets, like cryptocurrency or real estate.

Here we break down the best investing apps for each major category.

10 best investment apps by category

• Best investment app for beginners: Acorns 
• Best app for active trading: Robinhood 
• Best app for low cost investing: Fidelity 
• Best app for investing in real estate: Fundrise
• Best investing app for education: TD Ameritrade 
• Best app for sophisticated investors: Interactive Brokers 
• Best investing app for user experience: E*Trade
• Best robo-advisor for goal planning: Wealthfront
• Best money management app: M1
• Best app for cryptocurrency: Coinbase
• Best app for micro investing: Stash

Best investing apps: Quick comparison

4.5

Best app for beginners: Acorns

Try it now ►

Quick Facts

Account minimum: $0
Fees: $3 personal, $5 personal plus, $9 premium per month
Assets: Managed portfolio of ETFs (including up to 5% in a Bitcoin-linked ETF)
Accounts: Taxable, retirement, cash management, custodial
Robo-advisor: Yes

Why we chose Acorns as the best investment app for beginners

For new investors who just want to put their money to work, it’s hard to beat the Acorns investment app. With an intuitive, smart design and no deposit minimums, the platform is clearly focused on reducing barriers to entry. Plus, Acorns will add $20 to your account as soon as you make your first investment if you sign up with this link.

Acorns is known for its round-up feature, which rounds up the day-to-day purchases you make with your credit or debit card to the nearest dollar and invests those excess dimes.

You just have to choose the pre-made portfolio that aligns with your background, risk preferences and goals. The portfolios are invested exclusively in ETFs, with the option to include up to 5% of your portfolio in a Bitcoin-linked ETF.

Users can also benefit from Acorns’ round-up model in the form of receiving cash back with more than 450 in-app partners.

The app offers a checking account with no minimums and fee-free ATM access at more than 55,000 locations. And the Learn section of the platform empowers investors with videos, articles and tips to grow their investment knowledge.

Two subscription models are available. The Personal subscription costs $3 per month and comes with investing and banking functionality paired with a few bonus features, such as finding a side hustle through a partnership with the job board ZipRecruiter. The Family monthly subscription costs $5 per month and includes all the Personal tier perks plus early investment accounts for kids.

Acorns is a great fit for investors entering the market and looking to learn the basics while using an automated, passive portfolio solution. That said, Acorns lacks more sophisticated robo-advisor features such as tax-loss harvesting, financial tools and goal planning components. Investors looking for more in-depth options will likely find suitable options elsewhere.

Acorns

Pros

• Simple user interface and intuitive design
• Round-up model makes it easy to invest your spare change
• Auto-invests your money into ETFs

Cons

• Fees can be high for smaller portfolios

4.5

Best app for active trading: Robinhood

Try it now ►

Quick Facts

Account minimum: $0
Fees: None
Assets: Stocks, ETFs and cryptocurrencies
Accounts: Taxable, retirement
Robo-advisor: No

Why we chose Robinhood as the best app for active trading

Founded in 2013 with the goal of making investing more accessible and affordable for everyone, Robinhood allows users to buy and sell stocks, ETFs, options, fractional shares and cryptocurrencies. The app offers a user-friendly interface and a wide range of investment options, making it popular among both novice and experienced investors. In fact, it has nearly 18 million monthly active users and $81 billion in assets under custody.

One of the main advantages of using the Robinhood app is its commission-free trading model. Unlike traditional brokerages that charge per trade, Robinhood allows users to buy and sell stocks and other assets without incurring any fees. This means that investors can make multiple trades without worrying about high costs eating into their profits.

In fact, Robinhood will buy your first stock for you. This feature is particularly beneficial for active traders who frequently buy and sell stocks in search of short-term gains.

Additionally, Robinhood allows users to buy fractional shares. There are thousands of stocks to choose from, and you can put in as little as $1. Margin trading is also available for users who want to preserve their cash.

There is an option to enroll in Robinhood Gold, which offers premium features such as 4.4% APY on uninvested cash, larger instant deposits, and Level II market data from Nasdaq. This service costs $5 per month. 

Robinhood also offers educational resources and produces financial news articles and newsletters so users can stay informed about the markets. The platform also offers real-time market data, customizable watchlists, and detailed charts to help you make informed decisions when trading.

Plus, a live customer support specialist is available to help you at any time. 

Robinhood

Pros

• Commission-free trades
• No account minimum
• Fractional shares for as low as $1

Cons

• No mutual funds or bonds
• Cost of Gold membership eats into APY earnings

4

Best app for low fees: Fidelity

Try it now ►

Quick Facts

Account minimum: $0
Fees: $0 for stocks and ETFs. Options and mutual funds carry additional costs
Assets: Stocks, bonds, ETFs, mutual funds, options
Accounts: Taxable, retirement, cash management, margin, trust, custodial, education
Robo-advisor option with Fidelity Go account

Why we chose Fidelity as the best app for low fees

Fidelity is one of the most recognized names in the industry, thanks to a robust trading experience with surprisingly low fees.

The platform shines as a full-service broker, offering a wide range of investable assets in a user-friendly, streamlined package. Fidelity is also the most popular investment app among Americans, according to our recent survey of active stock investors.

Investors can open just about any type of account and choose from stocks, bonds, ETFs, mutual funds and options trading. Of note, however, forex and futures trading are missing from Fidelity’s lineup.

The broker offers commission-free stock and ETF trading, with thousands to choose from. Options trading is in line with industry standards, costing $0.65 per contract. Broker-assisted trading fees are higher than average at $32.95, however, so it’s best to utilize the online experience to trade.

An inexpensive robo-advisor service, Fidelity Go, is also available for investors seeking an automated, passive approach.

Fidelity offers a wealth of educational material — including news and research insights — on a range of topics, helping everyone from beginners to advanced traders learn the nuances of sophisticated investing strategies. Numerous trading tools, calculators and charts empower investors with everything they need to pursue their plans.

The combination of available assets to trade, research, financial tools, customer support and solid user experience impress at the low price point.

Fidelity

Pros

• Low costs
• Various account types and investments to choose from
• Excellent educational materials, research and tools

Cons

• Broker-assisted trading fees are higher than average

4

Best app for real estate investing: Fundrise

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Quick Facts

Account minimum: $10
Fees: 0.15% annual advisory fees, 0.85% annual management fees for eRIET/eFund
Assets: Real estate through REITs
Accounts: Taxable, retirement, trust

Why we chose Fundrise as the best app for investing in real estate

Don’t have enough cash for a down payment? Not keen to be a landlord? Fundrise is an investment app that lets you easily invest in real estate through real estate investment trusts (REITs).

Fundrise offers several real estate portfolios geared toward different investors' needs. These portfolios are called Starter, Long-Term Growth, Balanced and Supplemental Income. The investment requirement varies greatly depending on the tier, beginning at $10 for the Starter Portfolio and reaching $100,000 for the Premier level.

Fundrise provides investor materials like asset reports, letters to our investors, notices of dividends received, and tax document releases directly in the app. You can also dig into your portfolio, exploring performance by year, all-time and time-weighted, plus real-time data.

You can also grow your portfolio from the app, adding funds to your investment anytime.

Fees are on the higher side, though the investment strategy isn’t directly comparable to most competitors. On a related note, real estate investments aren’t as easily accessible (or liquid) as other assets. Fundrise recommends investing for a minimum of five years, and requires you to submit a liquidation request in order to redeem your shares. Something to keep in mind when determining how long you’re comfortable investing your money for.

We earn a commission for this endorsement of Fundrise.

Fundrise

Pros

• App is intuitive and allows you to easy fund investments
• Access to the real estate market with a low starting investment

Cons

• Not for short-term investors

4

Best app for education: TD Ameritrade

Try it now ►

Quick Facts

Account minimum: $0
Fees: $0 for stocks and ETFs. Options and mutual funds additional cost
Assets: Stocks, bonds, ETFs, options, futures
Accounts: Taxable, retirement, cash management, margin, trust, custodial, education

Why we chose TD Ameritrade as the best app for investing education

If you’re eager to expand your horizons, TD Ameritrade provides an unrivaled catalog of educational content that caters to investors of all experience levels.

It’s also a well-rounded investing platform overall, boasting an extensive range of trading tools, asset options and account choices as well as handy user support. TD Ameritrade is also the second most popular investment app among Americans, according to our recent survey of active stock investors.

The education section of the mobile experience is easily searchable, providing users with relevant and impactful material in just a few screens. The quality of the content is outstanding, whether you prefer long-form articles, podcasts, videos, tutorials or webinars.

The Immersive Curriculum area of the portal is one of the most comprehensive educational experiences out there, covering everything from executing trading strategies to concepts like learning fundamental analysis.

Investors also have access to financial calculators and goal-planning tools that help ensure they’re on track when pursuing their preferred investing approach.

The client support center is outstanding as well. Investors will find consistent, quick responses whether you reach out by phone, email or chat.

While a few features are missing from this investing app, such as direct crypto access, you’d be hard pressed to find another platform that provides such a deep archive paired with a rich suite of tools.

TD Ameritrade

Pros

• Extensive catalog of multimedia educational content
• Easy access to calculators and goal planning tools
• Responsive client support center

Cons

• Can't trade complex options

4

Best app for sophisticated investors: Interactive Brokers

Try it now ►

Quick Facts

Account minimum: $0
Fees: $0 for stocks and ETFs on Lite platform. $0.0005 to $0.0035 per share on Pro. Other assets have additional charges.
Assets: Stocks, ETFs, mutual funds, options, futures
Accounts: Taxable, retirement, cash management, margin, trust, custodial, education

Why we chose Interactive Brokers as the best app for sophisticated investors

Interactive Brokers shines as a powerful trading platform empowering sophisticated traders with all the tools needed to pursue their investment strategy. It provides excellent trade execution functionality for a user base that often relies on frequent trading.

The Interactive Brokers app comes in two main versions: Lite and Pro. Interactive Brokers Lite is geared toward investors not as concerned with getting the most precise order routing execution, where Pro is built for large order quantities and features a pricing menu that reduces with volume.

In addition, Interactive Brokers offers a downloadable version, the Trader Workstation, and a robo-advisor under Interactive Advisors.

Users can trade practically any asset in practically any kind of account while leveraging some of the most powerful charting, research, analysis and calculating tools available in the industry. Backtesting capabilities are provided so investors can fine-tune the nuances of their trading strategies before going live in the market.

The sheer volume of features can make the experience overwhelming for beginners. Educational material and support options are relatively limited as well. 

That said, the Interactive Brokers investment app is clearly designed for sophisticated or professional traders that rely on an expansive range of trading tools and order execution quality to pursue their strategy.

Interactive Brokers

Pros

• Backtesting capabilities
• Users can trade practically any asset type
• Powerful charting, research and analysis included

Cons

• Number of features can be overwhelming for beginners
• Educational material is limited

4

Best app for user experience: E*Trade

Try it now ►

Quick Facts

Account minimum: $0
Fees: $0 for stocks, ETFs and mutual funds. Options, bonds and mutual funds additional cost
Assets: Stocks, ETFs, mutual funds, options, bonds, futures
Accounts: Taxable, retirement, cash management, margin, custodial, education
Robo-advisor option

Why we chose E*Trade as the best investment app for user experience

E*Trade provides a deep feature set in a smart, intuitive package. Whether you prefer to trade on desktop, website or either of the two mobile apps, E*Trade prioritizes a smooth, intuitive flow without sacrificing the ability to make complex trades quickly.

It’s a hard balance to find, but E*Trade excels in this area.

The platform pairs its dynamic user experience with a diverse collection of trading amenities, research content, analysis, charting functionality and investment options, designed to meet investors of every level and trading disposition.

The experience can be tailored to an individual’s experience level, as both passive investors using ETFs for long-term investing and active traders will feel equally at home.

Users can also choose from a robo-advisor management option, Core Portfolios.

The educational section of the E*Trade investment app has been refreshed with up to date content, containing a wide range of material that is easy to navigate. E*Trade is also the most third most popular investment app among Americans, according to our recent survey of active stock investors.

That said, some features you might expect from a sophisticated trading platform, like direct cryptocurrency exposure and international exchange trading, are not offered by E*Trade.

E*Trade

Pros

• Intuitive user experience that can be tailored to your investing level
• Large education section that is easy to navigate
• Option for robo-advisor

Cons

• No cryptocurrency exposure or international exchange trading

4.5

Best app for goal planning: Wealthfront

Try it now ►

Quick Facts

Account minimum: $1 for cash accounts, $500 for investment accounts
Fees: 0.25% annually for investment accounts
Assets: Portfolios built with ETFs, crypto funds, stocks (for accounts $100K+)
Accounts: Taxable, retirement, cash management, custodial, education

Why we chose Wealthfront as the best investing app for goal planning

Wealthfront stands out in the robo-advisor space for its features that allow you to identify your financial objective and make a plan to get there. Plus, it has a wide range of customizable, automated portfolio solutions. 

In addition to tailored portfolios, Wealthfront offers more pre-built portfolio varieties than many robo-advisors. The Classic portfolio is a low-cost index fund that includes a globally diversified portfolio. Their Socially Responsible portfolio is designed around equity, diversity and sustainability. 

Investors can also choose to allocate up to 10% of their portfolio to cryptocurrency. 

One of the unique features of the platform is automated, daily tax-loss harvesting implemented through Wealthfront’s proprietary algorithm. Portfolio rebalancing is automatic when ETF weighting strays too far from the original allocation.

Wealthfront offers many ways to set and keep track of financial goals directly from your dashboard. Users can choose a goal such as retirement, a large purchase or buying a home. Interactive sliders, suggested deposit amounts and guided portfolio risk levels all come together to bring the goal planning feature to life. Their average APY is 4.30%.

You can also link external financial accounts to the platform so you have a more holistic sense of your progress to ensure you’re on track.

Wealthfront

Pros

• Set and track your financial goals from your dashboard
• Connect outside accounts for a holistic view of your investments
• Simple features to select a portfolio with ability to customise

Cons

• No human financial advisors

4

Best app for money management: M1

Try it now ►

Quick Facts

Account minimum: $100 ($500 for retirement accounts)
Fees: No management fees or commissions (miscellaneous fees may apply)
Assets: Portfolios built with stocks and ETFs
Accounts: Taxable, retirement, cash management, trust, custodial (for M1 Plus members only)

Why we chose M1 as the best app for money management

M1 offers a rare combination of automated portfolio management paired with extensive customization. This feature fits a niche in the industry for users who prefer to have more fine control over their strategy, but don’t quite want to go all-in on managing a portfolio themselves. 

More than 60 pre-built portfolio slices, or “pies”, are available to choose from and can be combined to make up an allocation that aligns with your preferred approach. These pies fall into seven categories:

• General investing
• Responsible investing
  
• Retirement
  
• Income earners
  
• Hedge funds
  
• Stocks and bonds
  
• Other strategies
  

Where M1 really differentiates itself is its money management product. 

M1's digital banking options includes a credit card, plus a feature that ensures your money is automatically allocated toward your goals. 

M1

Pros

• Pre-built portfolios offers lots of investment options
• Cash management tools help automate your investing goals

Cons

• Financial planning and advisory services not available

4

Best crypto investing app: Coinbase

Try it now ►

Quick Facts

Account minimum: $2
Fees: 0.5% - 4.5% per transaction, 25% - 35% commission to stake or unstake claims
Assets: Cryptocurrency
Accounts: Individual, business, merchant

Why we chose Coinbase as the best app for investing in crypto

Coinbase was an early pioneer in the crypto space and now serves more than 103 million users worldwide. More than 150 different coins are available to trade on the platform, providing one of the most extensive marketplace options in the industry.

The app is user-friendly, so it’s easy to quickly find coins you’re looking to trade and invest in. Educational prompts, though limited, encourage you to learn more about different types of coins and blockchain technology.

The fee structure relies on a variety of factors to determine the amount charged, including transaction fees based on the transaction amount. The platform’s premier experience, Coinbase Pro, follows a more traditional tiered pricing structure depending on how much you have invested.

While it’s easy to get started on Coinbase, crypto continues to be a rapidly growing, volatile industry, still in its early stages.

Coinbase

Pros

• User-friendly interface
• More than 150 coins available

Cons

• Educational prompts are limited

4

Best micro investing app: Stash

Try it now ►

Quick Facts

Account minimum: $0
Fees: $3 per month for the basic plan, $9 per month for advanced features
Assets: Stocks, ETFs, cryptocurrency
Accounts: Taxable, retirement
Robo-advisor: Yes

Why we like Stash

Let’s face it, for new investors, options for growing your wealth can be intimidating, confusing and even discouraging: stocks, ETFs, IRAs, real estate and the plethora of obscure and complex investment vehicles. And when your income level forces you to start small, the uphill climb may seem a little more … uphill.

That’s where Stash comes in. The app combines automated portfolio building with a do-it-yourself approach that’s both educational and empowering. Stash clients can get as involved as they desire; investors can keep it simple or go deep; they can DIY their portfolio or get a roboadvisor’s help. 

Stash is great for fractional investing, an approach that allows individuals to invest in fractions or smaller portions of a single share or unit of a higher-priced asset, such as stocks, real estate properties or other financial instruments. This  makes it possible for investors with limited funds to participate in markets otherwise inaccessible due to the high cost of entry.

Stash allows beginning investors to build their portfolio literally pennies at a time. Investors round up their consumer purchases to the nearest dollar, the  nickels and dimes add up, and as soon as they reach $5, the money is sent to your investment account. It may not sound like much (think about what $5 buys nowadays) but over time those roundups from small purchases can add up.

When you’re trying to determine how to invest, the app does a great job of defining the various investment vehicles available. The app’s fees are kept low, in part, because personalized guidance comes from robo advisors rather than humans. Two drawbacks: The app’s Smart Portfolios lack tax-loss harvesting and Stash doesn’t offer automated management of IRAs.

Stash

Pros

• Low fees
• Roundups offer a unique and painless way to invest
• Offers do-it-yourself or automated investing

Cons

• Personalized guidance comes from robo advisors

What is an investment app?

An investment app is a modern-day online financial tool that allows users to buy, sell, and manage investments via smartphones or tablets. Designed with user-friendly interfaces, these apps offer a range of services including stock trading, portfolio management, and financial education, making investing accessible to novices and seasoned investors alike.

Many apps offer low or no fees, real-time market data, and customizable features, encouraging informed financial decisions. With secure and convenient access to financial markets, investment apps are revolutionizing the way individuals participate in wealth creation and management.

How to choose the best investment app

Choosing the best investment app requires a blend of careful consideration and personal financial goals. Start by identifying your investment needs and risk tolerance. Look for apps with low fees, diverse investment options, and strong security features. User-friendly design and educational resources are crucial for beginners, aiding in informed decision-making. Read user reviews and consider apps with reliable customer support. Ensure the app is regulated by relevant financial authorities, securing your investments from potential fraud. 

Finally, compare features and choose an app that aligns best with your investment strategy, ensuring a seamless and productive investment experience.

How much money do you need to start trading with investment apps?

The initial capital to start trading with investment apps can vary widely. Some apps allow you to start investing with as little as $1, focusing on making investment accessible to everyone. The “roundup” class of apps can make micro investing even easier by rounding up purchases to the nearest dollar and then diverting that amount to the user’s portfolio.

Others may have a minimum deposit requirement ranging from $100 to $500 or more, particularly for professional trading platforms. Additionally, several apps offer fractional shares, allowing you to invest in high-value stocks with minimal amounts. 

It’s crucial to consider not just the minimum deposit but also transaction fees, service charges, and the cost of purchasing the assets you’re interested in. 

What can you trade with investment apps?

Investment apps offer a diverse range of assets to trade, catering to various investment strategies and risk appetites.

Stocks: Apps allow users to trade individual stocks from various companies, providing opportunities for ownership and dividends.

ETFs and mutual funds: These diversified investment vehicles pool money to invest in a collection of stocks or bonds, minimizing risk through diversification.

Cryptocurrencies: Many apps facilitate the buying, selling, and management of digital currencies like Bitcoin and Ethereum, appealing to those interested in alternative assets.

Options and futures: Advanced investors can trade contracts that bet on the future prices of assets, potentially yielding high returns.

Commodities: Some apps offer trading in physical goods like gold, oil, and agricultural products, offering inflation protection.

Bonds: Investors seeking stable, lower-risk assets can opt for bonds, representing loans made to companies or governments.

Forex: The foreign exchange market, where currencies are traded, is accessible through specialized apps, allowing for significant leverage.

Can you lose money using an investment app?

Whether you use an app, a bank, or a brick-and-mortar investment house, investing involves risk. Losing money is a real possibility since the value of investments can fluctuate due to market conditions, economic changes, or company performance, potentially leading to losses. Investment apps don’t increase or decrease your risk.

Where investment apps might carry an advantage is in their education resources. Many of the apps highlighted here have significant libraries describing their investment types and helping new investors make smarter choices. Opting for investment apps with robust educational resources won’t necessarily reduce your risk, but they can make you an informed investor.

Survey: What investment app do you use?

With so many investment app options these days, we wanted to know which apps are the most popular among those who are currently investing in stocks. 

Here’s what we found in our recent survey:

• The majority of Americans aren’t currently using any investment app.
• The most popular investment app being used was Fidelity, followed by TD Ameritrade. 
  

Moneywise commissioned a survey of 2,000 Americans who are currently invested in stocks. The survey was conducted April 9-10, 2023. 

Investment app FAQs

About our author

Jing Pan, Investment Reporter

More from this author

Jing is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

He wrote a monthly dividend stock newsletter for the better half of the past decade. Jing holds a Master’s Degree in Economics and an Honours Bachelor of Science Degree, both from the University of Toronto. In his spare time, Jing plays basketball, the violin and the ukulele.

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