Investing apps let you manage your portfolio and buy and sell investments from your phone. Here are our testers’ top selections for the Best Investing apps available today.
The Best investment apps make a conscious effort to prioritize users and the mobile app experience. They have strong customer support and great user evaluations in mobile app stores, however our study takes into account investment prices, account fees, and the account minimum to invest.
We also put each app we review through hands-on testing, which includes funding an account and placing trades on the broker’s platform.
» Looking for the best investments in 2024? Consult our list of the best investments in 2024 instead.
What is an investment app?
Investing applications enable you to purchase and sell stocks, exchange-traded funds, and other investments via your mobile phone using an online brokerage account.
The financial applications listed below allow you to pick and choose your own assets. Some investing programs, known as robo-advisors, will choose and manage all of your investments for you for a small charge.
High-quality investing apps, such as the ones listed below, allow you to monitor your investments and make decisions on the move, providing an experience that is quite comparable to the broker’s desktop platform. Many of the brokers we assess have well-received financial applications that are appropriate for both new and experienced investors. However, if a brokerage account’s mobile experience is most important to you, we’ve whittled down this list to assist you locate the best possibilities.
Which features are most important when choosing the best investing app?
The most crucial factor to consider when selecting an investing software is how you intend to use it — if you’re a frequent stock trader, you may need different capabilities than someone who only wants to track the performance of their long-term investments. Here’s a Nerdy breakdown of the aspects you should consider while selecting the ideal app for you.
How much money do you need to start investing through an app?
Some apps cost $1, Micro-investing programs such as Acorns and Stash allow you to build an investment portfolio with a small amount of money — literally your spare change, Acorns, for example, sweeps a linked credit or debit card account, rounds transactions up to the next dollar, and invests the difference. Stash provides a similar opt-in feature that rounds up purchases and deposits money into the user’s account.
Aside from micro-investing apps, the amount of money required to begin investing after opening your account is determined by the assets you wish to purchase. Individual stock shares can cost as low as a few dollars to hundreds or even thousands of dollars per share. Mutual funds frequently have minimums, but exchange-traded funds (ETFs) and index funds are more suitable for modest investments.
Many of PaidEase’s top applications feature no account minimum, allowing you to register an account immediately and fully online. Learn more about brokerage accounts and how to open one.
What investments can you trade through an investing app?
Your investing options will vary depending on the broker. Typically, an app from an established online broker would provide the most investment alternatives, but smaller applications or start-ups tend to limit their selection. Here are some investments that might be available through an investment app:
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- Stocks
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- Bonds
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- Mutual funds
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- Index funds
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- Exchange-traded funds
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- Options
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- Cryptocurrencies
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- Futures
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- Forex
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- Commodities
If you wish to trade more complicated or specialist investments, such as cryptocurrency or FX, you should make sure your broker truly provides them before deciding. Our individual broker reviews specify which assets can be traded through each brokerage.
Here are the six top-scoring investment apps and the securities they offer:
| Fidelity | Stocks, bonds, mutual funds, ETFs, options, CDs, precious metals, cryptocurrency, fractional shares |
| Webull | Stocks, bond ETFs, ETFs, options |
| JP Morgan Self-Directed | Stocks, bonds, mutual funds, ETFs, options |
| Firstrade | Stocks, bonds, mutual funds, ETFs |
| Public | Stocks, bonds, ETFs, options, cryptocurrency, alternative assets (collectibles, art, and music royalties), fractional shares |
| Sofi Active Investing | Stocks, ETFs, ADRs, cryptocurrency, options (no bonds, mutual funds or index funds) |
While InteractiveBrokers isn’t one of the top-rated investment applications, it does offer the most tradable instruments, such as stocks, mutual funds, ETFs, bonds, options, futures, FX, cryptocurrency, and metals.
Which investing app is best for stock traders?
Many of the apps above are fantastic choices for stock traders. To view a list exclusively focused on trading, check out our picks for the Best stock apps.
What is the best investment app for beginners?
Working with a larger, established brokerage, like as Fidelity or Charles Schwab, is often a good choice for beginner investors because their apps are well-rated, and they also provide more educational support and excellent customer service. Consider using a robo-advisor’s investing app. Robo-advisors create and manage portfolios for you, frequently utilizing ETFs, so you don’t have to make any investment decisions.
While the concept of purchasing individual stocks may be appealing, developing a portfolio of companies demands a significant amount of research and discipline. ETFs provide quick diversification by containing shares of numerous firms (dozens, even), similar to mutual funds, but trading like individual equities ,If you want to acquire individual company shares,
Are investing apps safe?
SIPC insurance, like FDIC insurance for bank accounts, guarantees the funds in your brokerage account (or robo-advisor account) up to $500,000. This covers investment applications. $250,000 of that amount can be used to protect cash that has not yet been invested. PaidEase’s top recommendations for the greatest apps are all SIPC members. (Learn more about SIPC insurance and what it does and doesn’t protect.)
Some of the investment apps featured here also provide bank or savings accounts that are FDIC insured against loss.
Investment apps often incorporate industry-standard security features, such as two-factor authentication, password hashing, and encryption of personal information.
What happens if an investment app goes out of business?
If your brokerage (app or brick-and-mortar firm) goes out of business, you are unlikely to lose all of your funds. If another institution agrees to acquire the failed brokerage, your assets will be transferred to the new brokerage. Many brokerages store the amount required to cover such a loss separately from their own assets. Worst-case scenario, the federal government provides SIPC insurance, which will most likely reimburse you for the value of your account at the time of the brokerage’s failure.
Can you lose money with an investing app?
Yes, it is possible to lose money using an investment app, but this is mostly due to how you invest your money within the app, rather than the app itself. Like traditional brokers, your investment decisions can influence how much money you make or lose, as well as how “safe” your money is overall. Some investments are riskier than others, such as individual stocks or cryptocurrencies, compared to funds, bonds, or Treasury securities.
Bottom line: No matter whatever app or investment business you choose, it’s critical to match your investment choices to your risk tolerance and time horizon. Many financial gurus advise against investing money you need within the next five years; most investments should be regarded long-term.
Methodology
PaidEase’s thorough assessment methodology examines and ranks the major US brokers by assets under management, as well as emerging industry leaders. Our goal is to give an objective assessment of providers so that you can make smart, informed decisions about which ones will best fit your requirements. We follow strong criteria for editorial integrity.
We collect data directly from providers using thorough questionnaires and undertake first-hand testing and observation during provider demonstrations. The questionnaire responses, together with demonstrations, interviews with provider personnel, and hands-on research by our specialists, drive our patented assessment approach, which assesses each provider’s performance on more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more information on the categories used to rate brokers and our process,
