Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.
If you're new to investing, the best investment apps should offer low fees and access to the types of accounts and investment products you care about most. The app you choose should suit your investment style and offer the tools you need (such as educational guides and/or courses, human advisor access, and strong customer support) to achieve your financial goals.
Best Investment Apps for Beginners
The best investment apps for beginners are easy-to-use platforms with simple trading, helpful tools, personalized portfolios, and commission-free trades on assets like stocks or ETFs. Investment apps for beginners also often offer educational resources like webinars and blog posts.
SoFi Invest
Best Overall
SoFi Invest
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum
$0 ($1 to start investing); $5 fractional shares; $2,000 for margin trading
Fees
0% for active trading and automated investing
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum to start investing
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account or trading fees, and low fees to own funds
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Certified Financial Planners at no additional charge
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. IPOs available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. SoFi 1% IRA match
- con icon Two crossed lines that form an 'X'. No tax-loss harvesting, an advanced investing technique where you sell a stock or mutual fund at a loss for a tax benefit
- con icon Two crossed lines that form an 'X'. No option for stop-loss orders when actively investing. SoFi's active investing account only uses market orders
- con icon Two crossed lines that form an 'X'. Currently only available to US residents
- Promotion: Get up to $1,000 in stock when you fund a new account.
- App store rating: 4.8 iOS/4.1 Android
- Consider it if: You want an easy-to-use platform paired with rock-bottom pricing.
SoFi is a top pick for beginners thanks to an easy-to-use platform paired with rock-bottom pricing. You can get started at SoFi Invest with just $1, and there are no commissions for trades and no recurring account fees. Even the managed portfolio product, SoFi automated investing, where your ETFs are all picked and managed for you, is free to use.
The app includes stocks and ETFs listed by category, making it easy to browse potential investment opportunities. It doesn't have the most in-depth investment research, but there is enough to get you started and guide your trading decisions. You can also access investment education articles from inside the app.
As an added bonus outside of the app, SoFi offers complimentary financial planning sessions for all members, among other benefits. You'll be able to work with certified financial planners (CFPs) who can help you reach your goals. If you are a beginner and want help putting an investment strategy together, SoFi is an ideal place to start.
SoFi will stop offering cryptocurrency trading starting on December 19, 2023. Existing SoFi crypto traders will have to migrate to Blockchain.com or liquify all crypto assets.
What to look out for: SoFi doesn't offer tax-loss harvesting.
Ally Invest
Best Overall Runner-Up
Ally Invest
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum
$0 ($100 for Robo Portfolios; $100,000 for Ally Invest Personal Advice)
Fees
0% (up to 0.85% for Ally Invest Personal Advice; bonds, mutual funds, and certain stocks have fees)
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account minimums or commissions for trading
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated portfolios free of advisory or management fees; Ally Invest Personal Advice available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Options contracts only cost $0.50 per contract
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bank accounts, mortgage refinancing, car loans, and personal loans available through Ally Bank
- con icon Two crossed lines that form an 'X'. Thousands of mutual funds but no no-transaction-fee mutual funds
- con icon Two crossed lines that form an 'X'. No cryptocurrencies
- App store rating: 4.7 iOS/ 3.9 Android
- Consider it if: You want easy-to-use apps paired with excellent investing, checking, and savings accounts.
Beginners often do well with straightforward investment platforms. Ally Invest offers just that through its mobile app. You can trade stocks and ETFs with no commissions; mutual fund trades will incur a $9.95 commission fee. There are no recurring fees or minimum balance requirements to worry about.
Plus, if you prefer the robo-advisor route, Ally Invest Robo Portfolios creates a personalized portfolio of ETFs for you. The account gives you the choice between four portfolios: Core, Income, Tax-optimized, and Socially Responsible. You'll just need a minimum of $100 to get started, and you won't have to worry about any advisory fees.
However, Ally Invest also launched a market-focused portfolio. This account only uses 2% of your portfolio as a cash buffer. The former option reserves 30% of your portfolio as a cash buffer.
The Ally app, which is also used by Ally Bank, is easy to navigate. It doesn't have as many bells and whistles as some active trading platforms, but it has everything a beginner and most passive investor might need.
What to look out for: Ally Invest offers wealth management services, but you'll need at least $100,000 to get started.
Acorns Invest
Best for Automated Investing
Acorns Invest
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum
$5
Fees
Monthly plans start at $3 for Personal, $5 for Personal Plus, and $9 for Premium
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Helpful automatic saving and investing tools
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Portfolio suggestions built to match your risk level
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. "Found money" invests a percentage of your purchases from certain companies
- con icon Two crossed lines that form an 'X'. Flat monthly fee is on the high side, especially for smaller accounts
- con icon Two crossed lines that form an 'X'. The option to choose individual investments requires a Premium plan
Acorns is one of the best investment apps for beginners and hand-off investors who want to start investing but are overwhelmed by the choices with other investing apps. This simple and easy-to-use platform offers a low investment minimum, portfolio diversification, and beginner-friendly charting tools. Acorns is more expensive than other zero-fee apps out there, but the ease of use may make it worthwhile for certain users.
Acorns Product Details- Get started in under 5 minutes
- $5/month gets you a full financial wellness system with connected investment, retirement, and saving accounts.
- Invest in a diversified, expert-built portfolio
- No expertise required
- Invest your spare change with Round-Ups (more than $900M invested in 2021 just from RoundUps!)
- Set easy, automatic Recurring Investments
- See your account performance right in the app, and play with our interactive Potential screen
- All you need to start investing is $5
- 18M downloads
Acorns is an investment app for people who know they should be investing but don't have or want to spend the time to manage it themselves. For $3 per month, Acorns will take care of everything. That includes automatic spare change investing through transaction round-ups, automated transfers, retirement account savings, banking perks, and a fully automated investment plan.
And for both of its pricing plans, Acorns Personal and Acorns Family, the platform invests your money into a diversified portfolio of ETFs.
The big upside of Acorns is that it's so easy to use. The big downside is that there's a fee no matter what. This is arguably better than asset-based fee deductions which fluctuate as your balance grows. With the monthly fee, you'll pay the same amount every year. For additional accounts and features, including investment accounts for children, you'll have to pay $5 per month.
What to look out for: You won't be able to choose individual investments with Acorns.
TD Ameritrade
If you are new to the markets and plan to get into active trading, TD Ameritrade is a good place to start. It charges no commissions for stock or ETF trades and offers multiple account platforms that align with various investment styles and goals.
When you're starting out, you'll probably feel most comfortable in the main TD Ameritrade app. As your investment skills grow, you can upgrade to thinkorswim, the premier active trading platform from TD Ameritrade. It has tons of useful features for active traders. Important for beginners, there's a feature to chat with an expert trader inside of thinkorswim.
What to look out for: Charles Schwab acquired TD Ameritrade in 2020. However, Schwab has announced it plans to keep TD Ameritrade's thinkorswim in its product lineup going forward. TD Ameritrade's managed accounts (Essential Portfolios, Selective Portfolios, and Personalized Portfolios) are also no longer available to new clients, but prospective investors can alternatively invest in managed accounts through its partner, Charles Schwab.
Public
Best for Social Investing
Public Investing
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum
$0
Fees
0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums and commission-free trading on stocks and ETFs
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency trading available for more than 25 coins and tokens; alternative assets available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers fractional share investing for as little as $1; Premium plan includes advanced market data and insights
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several community features that allow you to share insights and receive insights from other users; educational resources like live audio events also available
- con icon Two crossed lines that form an 'X'. No mutual funds, bonds, or options
- con icon Two crossed lines that form an 'X'. Not the best platform for day traders; it doesn't allow day trading of stocks
- App store rating: 4.7 iOS/4.3 Android
- Consider it if: You value portfolio diversification and want a social component to your investing experience.
When you're a beginner in the stock market, it can feel intimidating to research and choose stocks and other investments on your own. Public combines features from social networks like Facebook and Twitter with traditional brokerage features. That makes for an investment app ideal for beginners learning their way around the markets.
Not only can you learn from the portfolios of other experts by following their posts in the Public feed, you can also create group chats with other users and participate in live investing events and conversations. Plus, you can invest in more than 25 cryptocurrencies, including bitcoin, dogecoin, and ether. However, you'll incur a 1% or 2% markup for each crypto transaction (note that crypto trading isn't available to New York, Guam, or US Virgin Islands residents).
With fractional shares starting at $5, you can also buy into a huge number of supported companies without putting up enough cash for a full share. Public also recently launched alternative assets on its platform, so you can now exchange art, NFTs, collectibles, and more for 2.5% per transaction.
What to look out for: While it doesn't offer every popular type of investment, Public covers stocks and ETFs in a way that's great for newer investors or even experienced investors looking to improve their investment strategy.
Robinhood
Best for No Commissions
Robinhood Investing
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum
$0 ($1 for fractional shares; $2,000 for margin trading)
Fees
0% ($5/month for Robinhood Gold)
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free stock, option, ETF, and cryptocurrency trades; 1.50% APY on uninvested cash for non-Gold users and 5.00% for Gold members
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. IPO investing available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash management accounts available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Website is easy to navigate; advanced charts for all users
- con icon Two crossed lines that form an 'X'. Lack of investing research and trading tools; can only take advantage of professional research if you're a Robinhood Gold member
- con icon Two crossed lines that form an 'X'. No joint accounts, education savings accounts, or mutual funds
- App store rating: 4.2 iOS/4.0 Android
- Consider it if: You want to trade crypto and invest in a wide range of stocks and ETFs.
Robinhood is a pioneer in the no-commission brokerage model. It remains a solid choice for beginners, as they can invest in stocks, ETFs, options, and cryptocurrencies with zero commissions. Typical stock and ETF investors will be able to use Robinhood with no costs at all, though premium accounts are available with more features for a monthly fee starting at $5.
Plus, Robinhood offers commission-free cryptocurrency trading for several digital assets. Among these are bitcoin, ether, dogecoin, litecoin, Robinhood. Robinhood also offers traditional and Roth IRAs with $0 trading commissions, a 1% match on every dollar you contribute, recommended portfolios, and more.
What to look out for: Robinhood has a history of controversies over downtime and how some users have been able to enter extremely risky trades that they didn't understand. As with any investment app, Robinhood traders need to understand the risks of what they're doing so they can invest in line with their goals and avoid unexpected losses.
Stockpile
Best for Kids
Stockpile
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum
$0
Fees
$4.95 monthly subscription fee
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums and no gift card/funding fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. 1,000+ stocks and ETFs
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can fund account with bank transfer or stock gift cards
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fractional shares available
- con icon Two crossed lines that form an 'X'. Investment selection limited to stocks, ETFs, and crypto
Stockpile is a newer and smaller brokerage than some others on this list, but it's perfect for kids
Product Details- App store rating: 4.7 iOS/4.3 Android
- Consider it if: You want to invest with kids or teens
Stockpile also offers commission-free stock and ETF trades, and it provides some unique features that complement its $o commission fee structure. The platform also recently launched crypto investing. Plus, Stockpile allows fractional share investing and supports the gift of stock through gift cards, which makes it perfect for the youngest investors.
If you are a parent, grandparent, aunt, uncle, or another relative who wants to help a child in your life learn how the stock market works, Stockpile is perfect for your needs. It makes it easy to gift stock and keep tabs on the account of a minor. It also makes it fun to navigate through supported stocks while educating users through "mini-lessons" that teach how to invest.
What to look out for: Stockpile only offers stocks, ETFs, and crypto, so you'll need to consider other platforms if you'd like to invest in additional asset types.
Beginner Investment Apps Frequently Asked Questions (FAQs)
SoFi Invest is a great investment app for beginners because it has low costs, an easy-to-use platform, and complimentary financial planning sessions. Acorns, Ally, and TD Ameritrade are a few other good beginner investment apps.
Some investment platforms let you invest in fractional shares of stocks with only $1.
You can invest $100 in an online brokerage or investment platform that has a minimum investment requirement of $100 or less. Robo-advisors and other investment apps for beginners often have minimum investments between $0 and $100. But some platforms, like Charles Schwab or Vanguard's robo-advisors, have much higher minimums.
Beginners can start investing money into a brokerage account through an online investment app or firm by contributing a little bit of money here and there. You shouldn't invest essential money that you can't risk losing. Automated investing platforms like robo-advisors are the best investment apps for beginners.
Best Investment Apps for Beginners
Why You Should Trust Us: Our Methodology
For beginners, it's important to choose an investment app that combines low costs with the features you care about most. Whether you're looking to build a passive portfolio of funds, an active portfolio of stocks, or any other investment strategy, there's a brokerage and investment app designed to meet your needs. Investment platforms are given a rating between 0 and 5.
To make our selections, we used Insider's methodology for rating investing platforms to focus on costs and fees, app features, types of accounts available, investment products available, and beginner-friendly features to manage your investment account on the go.
Other Beginner Investment Apps We Considered
- Webull: Webull is a newer commission-free investment platform that may be a good option for beginners. It may be a little more challenging for some newer investors to navigate but offers excellent pricing and investment tools.
- Firstrade: Firstrade's web and desktop investment apps feel a little lower-tech, but its mobile app is simple and easy to navigate. It offers excellent pricing including commission-free mutual fund trades.
- Stash Invest: Stash is great for newer investors looking to learn how to invest and build the right mindset, but monthly $1 to $9 fees make it less appealing.
- Investr: This platform offers commission-free stocks, ETFs, cryptocurrencies, and ADRs. It also allows for fractional share trading, but it doesn't support IRAs.
- Uphold: Uphold is a cryptocurrency, multi-asset investing platform that offers cryptocurrencies, stablecoins, environmental assets, and precious metals for trading. But it doesn't offer stocks, bonds, mutual funds, or ETFs.
- Wells Fargo Intuitive Investors: A robo-advisors for low-risk ETFs. It has a wide range of account options and educational tools suitable for beginners. But it has a $500 account minimum.
Eric Rosenberg
Freelance Writer
Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker. When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers, and spending time with his wife and little girls. You can connect with him at Personal Profitability or EricRosenberg.com. Read more Read lessRickie Houston
Senior Wealth-Building Reporter
Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.
Read more Read lessTessa Campbell
Junior Investing Reporter
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