Top Investment Apps for Beginners in 2024 Investing has become more accessible than ever, thanks to user-friendly investment apps designed for beginners. Whether you’re looking to invest in stocks, ETFs, mutual funds, or even cryptocurrencies, there’s an app tailored to your needs.
In this guide, we’ll explore the best investment apps for beginners, highlighting their features, pros, cons, and pricing to help you make an informed decision.
Why Use an Investment App as a Beginner?
Before diving into the best apps, let’s understand why they’re ideal for new investors:
✅ Low Fees – Many apps offer commission-free trading.
✅ User-Friendly Interface – Simplified for beginners.
✅ Educational Resources – Learn while you invest.
✅ Automated Investing – Robo-advisors handle investments for you.
✅ Fractional Shares – Invest with small amounts of money.
Now, let’s explore the top investment apps for beginners in 2024.
1. Robinhood – Best for Commission-Free Trading
Best for: Beginners who want a simple, no-fee trading platform.
Key Features:
- Zero commission fees on stocks, ETFs, options, and cryptocurrencies.
- Fractional shares (invest with as little as $1).
- User-friendly mobile app with an intuitive interface.
- Cryptocurrency trading (Bitcoin, Ethereum, Dogecoin, etc.).
Pros:
✔ No account minimums.
✔ Sleek and easy-to-use design.
✔ Free stock for signing up (terms apply).
Cons:
✖ Limited research tools.
✖ No mutual funds or bonds.
Pricing:
- Free trades (except for regulatory fees).
- Robinhood Gold ($5/month) offers margin trading and larger instant deposits.
Best for: Beginners who want a simple, no-frills investing experience.
2. Acorns – Best for Automated Investing
Best for: Passive investors who want a “set it and forget it” approach.
Key Features:
- Round-up investments – Automatically invests spare change from purchases.
- Automated portfolio management (robo-advisor).
- IRA and custodial accounts available.
- Educational content (Grow Magazine).
Pros:
✔ Great for hands-off investors.
✔ Low minimum investment ($5 to start).
✔ Teaches saving and investing habits.
Cons:
✖ Monthly fees (3−3−5) can be high for small balances.
✖ Limited control over individual investments.
Pricing:
- Personal: $3/month
- Personal Plus: $5/month (includes retirement accounts)
Best for: Beginners who want automated, micro-investing.
3. Betterment – Best Robo-Advisor for Beginners
Best for: New investors who want automated, goal-based investing.
Key Features:
- Goal-based investing (retirement, savings, etc.).
- Tax-efficient strategies (tax-loss harvesting).
- Automatic rebalancing.
- Socially responsible investing (SRI) portfolios.
Pros:
✔ No minimum balance for the basic plan.
✔ Low management fee (0.25%).
✔ Great for retirement planning.
Cons:
✖ No direct stock picking.
✖ Higher fees than some competitors.
Pricing:
- Digital Plan: 0.25% annual fee
- Premium Plan: 0.40% annual fee (requires $100,000+ balance)
Best for: Beginners who prefer automated, hands-off investing.
4. Fidelity – Best for Low-Cost Investing & Research
Best for: Beginners who want a full-service brokerage with low fees.
Key Features:
- Commission-free trading (stocks, ETFs, options).
- Fractional shares (invest in companies like Amazon with $1).
- Strong research & educational tools.
- Robust retirement accounts (IRA, 401k rollovers).
Pros:
✔ No account fees or minimums.
✔ Excellent customer service.
✔ High-quality research and analysis tools.
Cons:
✖ Mobile app not as sleek as Robinhood.
✖ Some mutual funds have fees.
Pricing:
- Free stock and ETF trading.
- $0 for most account types.
Best for: Beginners who want a trusted, full-featured brokerage.
5. E*TRADE – Best for Beginner-Friendly Trading Tools
Best for: New investors who want a balance of simplicity and advanced tools.
Key Features:
- Commission-free stocks, ETFs, and options.
- Powerful trading platform (web and mobile).
- Extensive educational resources.
- No minimum deposit.
Pros:
✔ Great research and educational content.
✔ Easy-to-use mobile app.
✔ No fees for most trades.
Cons:
✖ High fees for mutual funds.
✖ Some features may overwhelm absolute beginners.
Pricing:
- Free stock and ETF trading.
- $0 account minimum.
Best for: Beginners who want a mix of simplicity and advanced tools.
6. SoFi Invest – Best All-in-One Finance App
Best for: Beginners who want investing alongside banking services.
Key Features:
- Commission-free trading (stocks, ETFs, crypto).
- Automated investing (robo-advisor).
- Fractional shares.
- No account fees.
Pros:
✔ Free financial advisors.
✔ No management fees.
✔ Integrates with SoFi banking.
Cons:
✖ Limited research tools.
✖ Fewer investment options than competitors.
Pricing:
- Free stock, ETF, and crypto trading.
Best for: Beginners who want an all-in-one finance app.
7. TD Ameritrade (Now Charles Schwab) – Best for Education
Best for: Beginners who prioritize learning.
Key Features:
- Commission-free trading.
- Extensive educational resources (webinars, courses).
- Powerful thinkorswim platform (for advanced traders).
Pros:
✔ Excellent research and learning tools.
✔ No account minimums.
✔ Great customer support.
Cons:
✖ Mobile app can be complex.
✖ Merged with Schwab, leading to some transition changes.
Pricing:
- Free stock and ETF trading.
Best for: Beginners who want to learn while investing.
Final Thoughts: Which Investment App is Best for You?
Here’s a quick summary to help you decide:
| App | Best For | Fees |
|---|---|---|
| Robinhood | Simple, commission-free trading | Free |
| Acorns | Automated micro-investing | 3−3−5/month |
| Betterment | Hands-off robo-investing | 0.25%-0.40% |
| Fidelity | Low-cost, full-service | Free |
| E*TRADE | Beginner-friendly tools | Free |
| SoFi Invest | All-in-one finance app | Free |
| TD Ameritrade | Educational resources | Free |
Tips for Beginner Investors:
- Start Small – Use fractional shares if you have limited funds.
- Diversify – Don’t put all your money in one stock.
- Use Automation – Apps like Acorns and Betterment make it easy.
- Keep Learning – Take advantage of free educational resources.
Final Recommendation:
- For absolute beginners: Try Robinhood or Acorns.
- For hands-off investors: Betterment or SoFi Invest.
- For those who want to learn: TD Ameritrade (Schwab) or Fidelity.
Investing early—even with small amounts—can lead to significant growth over time. Choose an app that fits your goals and start today!
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