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With dozens of investment apps ranging from robo-advisors and stock trading apps to traditional brokerage firm apps, choosing the best investment app can seem like a daunting task.
To help you, the investor, get on the right foot, we’ve combed through the leading investment apps to identify the best overall investing app, as well as the top options for beginners and active traders alike.
Best Total Investment App: Fidelity
For stock, ETF and options traders, long-term investors and those interested in the market and business, the mobile app from Fidelity prevails.
Why choose loyalty
Fidelity is one of the best comprehensive investment brokers, outperforming the competitor’s rankings in its mobile app with star ratings of 4.8 and 4.4 for iOS and Android, respectively. Fidelity shines with a selection of independent research reports not found on most other investment brokerage platforms, as well as world-class market and educational content.
Ray Prospero, partner at AdvicePeriod in Los Angeles, advertises the platform and claims: “The app is suitable for the entire spectrum of investors, from the occasional investor to the experienced trader. In addition to the basic functions expected from an investment app, such as displaying account balance and positions, transaction history, buying and selling securities, the Fidelity app also enables the user to trade sophisticated options contracts for their account. “
Fidelity’s app features:
- Stocks, bonds, mutual funds, exchange traded funds (ETFs) and option investments.
- Customized feed with portfolio, market and research information.
- Content and news according to your interests.
- Watchlist and customizable field options including 52 week range, P / E, EPS, dividend and ex dates, dividend amount and dividend yield.
- Research and education insights and reports including Zack’s Bull and Bear of the Day, nearly 20 independent research reports, and more.
- The ability to trade, bank and pay bills.
- Market insights, business and investing webinars, podcasts and videos.
- Fidelity zero expense index mutual funds.
- Robo-advisors, financial coaches and branch access.
- No minimum investment required.
Related: Manage your investments with Personal Capital’s financial tools
Cons of the Fidelity app
The main disadvantage of the Fidelity app is learning to use the app. While it is common to take time to familiarize yourself with navigating a new app, getting to the home screen is difficult because the feed screen is the closest thing to a home page.
Certain activities are not available in the app, e.g. B. Viewing multiple research reports or bond screening. The workaround is good, however: the app simply transfers you to the desktop version on your mobile device. While a bit clumsy, you can view the entire powerful desktop version of the platform through the app.
Best investment app for beginners: Stash
Think of stash as the primary school of investing. Once you’re ready for high school, you can switch to a free investment app with more assets, features, and complexity, but for new investors who like to learn on their own, Stash is the place to start.
Why choose stash?
Stash equips new investors with the knowledge to invest wisely and the means to do so easily. App users rewarded Stash with a 4.7 for iOS and 4.2 for Android. Beginners can dive into the Stash Learn portal and in less than half an hour read the five chapters Introduction to Investing with all the basics they need to know.
After building up investment knowledge, users can then take small steps into the investment markets via stocks and diversified ETFs. Even with complex topics and transactions, the Stash app keeps things simple, which we appreciate because it’s easy to get overwhelmed by too much information and too many choices.
The Stash app features:
- Thousands of stocks and themed ETFs with descriptive names. For example, Stash’s Treasury Fund is called Uncle Sam: Medium Term.
- Private, retirement and child custody accounts available.
- Educational content is woven into the site based on solid investment practice.
- Smart portfolio of ready-made investment groups for those who prefer help with managing their investments. Rebalancing, a robo-advisory feature that will return equity and bond fund percentages to your preferred values as they vary over time, is available.
- Debit card available which rewards you with fractions of shares with every purchase.
- Rounding function that invests the difference between the purchase and the whole dollar amount in the investment account.
- No minimum investment required.
Cons of stash
The Stash app charges monthly fees ranging from $ 1 to $ 9, depending on the plan. While there are competing free investment apps out there, Robinhood in particular, we believe the beginner-geared learning, banking, and investment app is well worth the price. Its pre-built portfolios in particular can appeal to beginners looking for a set-it-and-forget-it approach to investing. In particular, Stash does not provide access to financial advisors like some robo-advisors or digital advisors like Betterment or Ellevest.
Best Free Investment App For Traders: Webul
Webull loads many of the features traders crave into one easy-to-use mobile trading app.
Why choose Webul?
For investors looking for the best stock trading app, Webull could be the one. The iOS and Android customer ratings of 4.7 and 4.5 introduced in 2017 show how satisfied investors are with the trading app. Users can trade stocks, ETFs, options, and cryptocurrency. With instant crypto processing, a wide variety of order types, and smart trading tools, you won’t be disappointed whether you are a beginner or an advanced trader. Webull has no minimum requirement to start trading.
The Webull app functions:
- Analytical tools and charting that includes 50+ technical indicators and 12 charting tools.
- Customizable screens for finding investment opportunities including market, region, fundamentals and technical categories.
- Paper trading to hypothetically try out investment strategies before wagering real money.
- 45 widgets for charts, trend analysis, options and active trading.
- One-click trading for active traders.
- Single and multi-level trading with advanced options.
- No commissions for options trading and fees per order.
- Extended trading hours available.
- Free stock promotions.
- Excellent educational resources including videos for traders of all levels.
Disadvantages of Webbull
The Webull trading app is not for professional traders, and even less experienced investors interested in penny stocks, mutual funds, or bonds should look elsewhere. In addition, retail investors will not find any fractional shares at Webull. At the other end of the spectrum, investors need an account balance of $ 25,000 for day trading. Account types are limited to taxable accounts and retirement accounts.
Investing 101: The Most Important Factors To Consider When Investing
Investing is not a gamble or a game. To do this successfully, you need certain knowledge. Here’s what you need to know to get started:
What are fixed assets?
Fixed assets typically include stocks and bonds. Buying a stock is like owning part of a company, while buying a bond is like lending money to the company. Many investors prefer to buy groups of stocks and bonds that are sold in funds like ETFs or mutual funds. Real estate, commodities, currencies and other asset classes are also considered fixed assets, but most investors can achieve financial success with a simple equity and bond fund portfolio.
How do I make money investing?
For the past 100+ years, equity investments have had an average annual return of about 9 percent per year, while bonds have returned about 5 percent. If you had a diversified portfolio with a mix of stocks and bonds, you would have an average annual return of about 9 percent since the 2008 Great Recession. With an investment of $ 10,000, this equates to a total profit of more than $ 22,000. It is important to note that past performance does not predict what will happen in the future.
Can I lose money investing?
There are no guarantees when it comes to investing. Unlike savings accounts, money is not government insured, and while stocks and bonds generally offer higher returns than bank accounts, investing, especially in the short term, can cause you to lose money. In the past, however, the years that stocks and bonds have offered positive returns far outweigh the years that investments lose money, making them a good choice for people who have more than a few years to go they need their money.
Which is better: single stocks or ETFs?
There’s no perfect answer to this question, but for the most part, ETFs or mutual funds are preferred. Choosing the diversified mixes found in funds can help you avoid choosing individual stocks. Rather than betting on a single winner, when choosing ETFs or mutual funds, hedge your bets that the overall economy will appreciate over time, which it has in the past.
When should I start investing?
Now. The greatest returns on investments come from the time your money spends in the market. For this reason, it is best to start now by putting a fixed amount of money, even if it is a small amount, into your retirement or taxable brokerage accounts.
To determine the best investment apps, we considered more than 20 of the most popular investment apps. To be included on our list, apps had to have a star rating of at least 4.2 for both Apple and Android mobile apps. In addition, an app had to be primarily an investment app, not a banking, financial management or budgeting app that also offered investment opportunities.
Apps were rated based on their trading and investing skills, educational resources, usability, and suitability for different types of investor needs and levels of experience.
Barbara A. Friedberg, MS, MBA is a former portfolio manager and university lecturer. She’s enjoying her dream posting credits to US News and World Report, GoBanking Rates, Investopedia, MSN Money, Investor’s Business Daily, and more.