Best Investment Apps

The best investment apps enable both experienced and new investors to manage their stock market investments and other financial markets easily. While these investment apps charge a diversity of low fees, investors will improve their portfolios and save money. With the available and easy access to smartphones, you don’t need to start calling a stockbroker in the middle of the night to make a trade, which will cost you a considerable commission fee. Now you can pick up your smartphone anywhere and trade instantly, at a low cost or even for free.

Amidst numerous online investment apps, having carried out several reviews based on investment options, ease of use, cost, and other fundamental factors, below are the best investment apps you can use.


Best Investment Apps

TD Ameritrade

TD Ameritrade is an investment app that does not require a minimum investment. It has incredible features, including free and extensive data research, guidance for building portfolio, $0 stock commission, exchange-traded fund trades, options, and over 300 customer care branches. In 2020, Charles Schwab finalized TD Ameritrade’s acquisition, but the two companies’ integration will occur in the next 2 to 3 years. 


Pros
  • Free commission stock trading, options, and ETF trades
  • Free research
  • High-quality trading platforms
  • No minimum investment
  • Excellent customer support
  • Large investment option

Cons
  • Some users may not like the Schwab acquisition
  • No fractional shares

Verdict
  • TD Ameritrade investment app satisfies the needs of both new investors and active traders with quality trading platforms. $0 online stock commissions, ETF trades, and options, with a wide selection of mutual funds.

Acorns

It has remodeled the old practice of integrating the automated savings tool with the Robo-advisor model. It now works by collating your transactions on linked debit or credit cards and connecting the change into a computer-regulated investment portfolio. This new procedure is an effective tool to save more. The Acorns trading app offers three levels of membership.

Getting started: Acorns

(Sponsored)


1.    Lite

$1 per month, and a taxable investment account.


2.    Personal

 $3 per month.  A checking account and an individual retirement account.


3.    Family

$5 per month, which includes all the lower version benefits, allows you to set up an investment account for kids with Acorns Early.


Pros
  • Automatic investment of spare money
  • Cashback at select retailers
  • Educational content is available

Cons
  • Small investment portfolio
  • High charges on small account balances
  • Monthly charges on all accounts

Verdict
  • Acorns redevelop the Robo-advisor model with a computerized savings tool, making it a practical app to save more money

E*TRADE

E*TRADE offers value to both novice and expert investors with an archive of educational aids, professional-level trading platforms, tools to help develop a risk-appropriate and balanced portfolio. Expert traders will admire the firm’s $0 stock commission, options trades, and ETF.

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Morgan Stanley, in 2020, finalized a $13 billion acquisition to purchase E*TRADE. The brokerage will remain operating under E*TRADE as there are no alterations to current tools or prices.


Pros
  • Easy to use tools
  • Large investment option
  • Outstanding customer support
  • Access to extensive research
  • Smart mobile app
  • Commission-free stock, options, and ETF trades

Cons
  • Monthly charges on all accounts

Verdict
  • It has long been one of the most prominent online brokers. The $0 stock commissions and powerful trading platforms attract active traders, while beginner investors profit from its educational resources library.

RobinHood

RobinHood is a free-trading app that allows investors to trade stocks, options, cryptocurrency, and ETF without paying any fees or commissions. It is a solid trading app choice and still one of the rare brokers that offer investors the chance to trade cryptocurrency. Robinhood provides both mobile and web trading.


Pros
  • No account minimum
  • Simplified interface
  • Allows Cryptocurrency trading

Cons
  • No retirement accounts
  • No mutual funds
  • Insufficient customer support

Verdict
  • With a $0 minimum account, free stock, options, cryptocurrency trades, and ETF, Robinhood is a solid investment choice

SoFi Active Investing

SoFi Active Investing trading app mainly addresses young investors with free stock trades and ETF (exchange-traded funds). The ability to transact cryptocurrencies such as Ethereum, Bitcoin, and fractional shares of reputable companies such as Netflix and Amazon solidify its importance in the trading world.


Pros
  • Free stock Commission
  • ETF trades
  • Cryptocurrencies trading
  • Fractional shares are available
  • No account minimum
  • Free financial advice

Cons
  • No advanced research tools
  • Limited investment assets

Verdict
  • Its $0 account minimum and $0 trading commission are impressive to new investors. Still, a lack of investment options such as bonds and mutual funds is a shortcoming for retirement savings.

Zacks Trade

Zacks Trade is an online investment app dedicated to active investors and traders, providing penny-per-share exchanges and a robust trading platform. It offers free broker-assisted exchanges, making it a good choice if you are likely to seek assistance making a trade.


Pros
  • Considerable research offerings
  • Strong trading platform
  • Access to international exchanges

Cons
  • Trails competitors on commissions
  • High account minimum

Verdict
  • It is an interactive trading platform that is ready to render free trading assistance to whoever needs it

Fidelity

Fidelity Investments has a reputation for its mutual funds.  It offers $0 for trading commissions and an easy-to-use platform that you can also customize for active traders. This investment platform is well known for its emphasis on retirement education. The Fidelity App merges with both Google Assistant and Apple Watch for more excellent features. You can use retirement calculators and other investment tools.  It allows you to connect your investment account to Fidelity Spire, which assists you set and monitor your investment and savings goals.


Pros
  • Fractional share investing
  • Attractive mobile app features
  • Fidelity Spire app for setting and tracking investment and savings goals

Cons
  • It charges a $12.95 fee for phone trades

Verdict
  • It offers $0 trading commissions, an option of more than 3,400 no-transaction-fee mutual funds, and classic trading platform and research tools.

Ally Invest

Ally Invest appeals to both the novice investor and active stock trader with its $0 trading costs on qualified U.S. securities, a $0 account minimum, a large selection of no-transaction-fee mutual funds, and low-cost trading options.


Pros
  • Commission-free trades on qualified U.S.options, stocks, and ETFs
  • No account minimum
  • User-friendly web platform
  • Strong research and tools

Cons
  • No branches for customer relations

Verdict
  • Its $0 trading commissions and $0 account minimum on qualified U.S. securities make it a powerful choice for all traders. A low $0.50 options-contract fee will entice options traders

Charles Schwab

Charles Schwab caters to all categories of investors. Novice investors will enjoy the company’s $0 account minimum, while the active user is attracted to its $0 commission for the stock, options, and ETF. Schwab has a reputation for its low fees, research offerings, selection of transaction fee-free mutual funds, and advanced tools and trading platforms.


Pros
  • No account minimum
  • Excellent mobile app
  • Comprehensive research
  • Wide fund selection
  • Commission-free stock, ETF trades, and options

Cons
  • It has a low default cash sweep rate

Verdict
  • It’s a platform designed to favor both new and active traders

Merrill Edge

With a robust research option, this investment platform entices casual traders. It has unlimited free trades on stocks and ETF (exchange-traded funds). Merrill Edge is also enhancing its presence in Bank of America branches across the country, granting clients access to personal customer support at approximately 4,300 locations.


Pros
  • Strong research option
  • Merged with Bank of America

Cons
  • Active traders may discover fewer securities on offer

Verdict
  • It stands out for its free trades and intense research. The Bank of America customers will enjoy the thoughtful integration across accounts

The Bottom Line

The easy access to the internet and the availability of smartphones have made online investment easy. The apps above are the best you can use for online investment.

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Mydollarbillshttps://www.mydollarbills.com
Hi, we are Lena and Chris. A finance-addicted couple, living on a Superyacht. Ever since we can remember we are interested in finance. We love to research and review complex topics. As we were quite familiar with the world of finance at all, we thought we should share this information with the rest of the world. Our main reason we do this is to help people to orientate themselves in the confusing daily finance puzzle.

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