When you’re just starting out with investing, the financial world can feel pretty overwhelming. So much jargon, so many strategies, and a million options to choose from. The good news is, technology has made it easier than ever to get started. With investment apps designed specifically for beginners, you no longer need to be a Wall Street whiz or have thousands of dollars saved up. Whether you want to dip your toes in with a few dollars or you’re ready to take your first big step toward building wealth, there’s an app out there for you.
The key is finding the right platform that matches your needs, offers user-friendly interfaces, and, most importantly, makes you feel confident about investing your hard-earned cash. So, to save you the trouble of scouring the internet, I’ve rounded up the best beginner-friendly apps. Let’s dive in!
1. Robinhood: Perfect for Commission-Free Trading
One of the most well-known apps in the world of beginner investing, Robinhood offers commission-free trading, which is a huge bonus for those just starting. You can buy and sell stocks, ETFs, and cryptocurrencies with no hidden fees. Robinhood’s simple, streamlined interface makes it easy for beginners to navigate without getting lost in a sea of data.
Why it’s great for beginners:
- No account minimums: You don’t need a lot of money to get started. Even if you have just $1, you can start buying fractional shares, meaning you can own a piece of your favorite stock without having to buy a full share.
- Easy to use: The app is designed with the beginner in mind. It’s free from unnecessary clutter, so you can focus on the basics.
- Real-time data: For those ready to learn about market movements, Robinhood offers real-time market data. This helps you see how your investments are performing moment by moment.
But it’s not all sunshine. One downside is that Robinhood offers limited research tools compared to some of the more advanced platforms. If you want deep financial analysis, you might find it lacking. But if you’re just starting, this app is an ideal launchpad for learning the ropes.
2. Acorns: Saving and Investing Made Automatic
If you’re someone who struggles with consistently setting money aside for investments, Acorns might be just what you need. This app rounds up your everyday purchases to the nearest dollar and invests the spare change for you. So, every time you buy a coffee or fill up your gas tank, you’re automatically investing without even thinking about it.
Why it’s great for beginners:
- Automated investing: You don’t have to worry about timing the market or knowing when to invest. Acorns does it for you by investing your spare change in a diversified portfolio of ETFs.
- Low barrier to entry: With just $5, you can start investing. That’s less than what most people spend on a lunch break.
- Simple portfolios: Acorns offers portfolios that range from conservative to aggressive, and they are automatically rebalanced based on your preferences.
What’s really nice about Acorns is that it takes the guesswork out of investing for you. On the flip side, though, the fees can be a bit steep, especially for those with small balances. Acorns charges $3 to $5 per month, which might not seem like much but can add up if you’re only investing small amounts at first.
3. Stash: Learn and Invest
For those who want to learn as they invest, Stash is a great app to consider. Stash combines investing with educational resources that help beginners understand the stock market better. Unlike Robinhood, where you’re left to figure things out on your own, Stash guides you step-by-step through the investment process.
Why it’s great for beginners:
- Educational tools: Stash offers tailored advice and educational content designed for beginner investors. Whether you’re learning about dividends, ETFs, or setting financial goals, the app provides personalized recommendations based on your investing style.
- Invest with little money: Stash also allows you to buy fractional shares, meaning you can invest in companies like Amazon or Apple with as little as $1.
- Diversified investments: With Stash, you can build a diversified portfolio by choosing from a variety of investment themes, like clean energy or tech stocks.
One thing to note about Stash is the subscription fee, which starts at $3 per month. While it’s not expensive, it can eat into your profits if you’re only investing small amounts. However, the education provided makes it a worthy trade-off for many beginners.
4. Betterment: A Robo-Advisor for Simplicity
If you’re not into the idea of constantly checking the stock market and just want a “set it and forget it” type of investment platform, Betterment could be your best friend. It’s a robo-advisor that builds and manages a diversified portfolio for you based on your financial goals and risk tolerance.
Why it’s great for beginners:
- Hands-off investing: Betterment automatically adjusts your portfolio based on your goals, meaning you don’t have to pick and choose stocks. You tell the app your preferences, and it takes care of the rest.
- Low fees: Betterment charges just 0.25% annually on your balance, which is lower than many traditional financial advisors.
- Goal-based investing: Whether you’re saving for retirement, a home, or just building wealth, Betterment tailors your portfolio to match those goals.
The downside? Betterment may not be ideal for someone who wants full control over individual stock selection. It’s designed for passive investors. If you like being more hands-on, you might want to look elsewhere.
5. Wealthfront: A High-Tech Robo-Advisor
Another fantastic robo-advisor option is Wealthfront. Like Betterment, Wealthfront helps you invest passively by creating a diversified portfolio of ETFs. However, Wealthfront stands out with its cutting-edge tools and features designed to maximize your returns over the long term.
Why it’s great for beginners:
- Tax-loss harvesting: Wealthfront automatically helps you reduce your taxes by selling losing investments and replacing them with similar ones. This feature is generally only available to more advanced investors, but Wealthfront offers it to everyone.
- Financial planning tools: The app includes tools to help you plan for retirement, buy a house, or even calculate how much you need to save for your child’s college education.
- Low fees: Like Betterment, Wealthfront charges just 0.25% annually, making it an affordable option for beginners.
One drawback is that Wealthfront has a $500 minimum investment, which is higher than some other apps on this list. But for those who are serious about growing their wealth, the advanced features are well worth it.
6. Public: Investing with a Social Twist
If you’re someone who learns by watching what others do, Public could be a game-changer for you. Public combines commission-free investing with a social platform, allowing users to follow other investors and see what they’re buying or selling. It’s a little like Instagram for investing, where you can ask questions and share insights.
Why it’s great for beginners:
- Community-driven learning: Public’s social aspect lets you follow experienced investors and learn from their strategies.
- Fractional shares: Like many other apps, Public allows you to buy fractional shares, making it easy to invest in high-value stocks with minimal cash.
- Commission-free trades: There are no fees to worry about when trading stocks and ETFs.
However, Public doesn’t offer as many advanced research tools as some other platforms. For deep analysis, you might want to pair it with another app or service. But as a learning tool, it’s fantastic.
7. M1 Finance: Customizable Robo-Advising
For beginners who want a little more control but still appreciate the benefits of a robo-advisor, M1 Finance offers a unique approach. M1 combines passive investing with the ability to create custom portfolios, which they call “Pies.”
Why it’s great for beginners:
- Custom portfolios: M1 lets you build your own investment “Pies” made up of stocks and ETFs that you choose. You can also automate your investments, and M1 will rebalance your portfolio for you.
- No trading fees: M1 offers commission-free trades and no management fees, which is ideal for those who want to invest regularly.
- Fractional shares: Like many of the other apps, M1 allows you to invest in fractional shares of stocks and ETFs, so you can start small.
One thing to note is that M1 requires a minimum deposit of $100 to start investing, which is slightly higher than other beginner apps. Additionally, the app doesn’t offer real-time trading, so it’s not ideal for those who want to be more active in day trading.
Final Thoughts
With so many great apps available, there’s no reason to let fear or lack of experience hold you back from investing. Whether you’re looking for a hands-off robo-advisor or a platform that lets you engage with a community of investors, there’s an app out there to match your style. The key to success is consistency—starting small, learning as you go, and building confidence in your investing journey. Now, the real question is, which app will you download first?