So you wanna learn to trade stocks, ETFs, and mutual funds with the best of them, eh? You’re not alone, and thankfully, the modern investing scene is more welcoming than it’s ever been. For new investors, as well as experienced investors who just want to get better service, the new wave of tech is nothing short of a godsend.
Gone are the days where you had to know a million different stats and have thousands of dollars stored in the bank to start investing. These days, a lot of the best investment services just require a smartphone and some spare change. We’ve been looking at the top investing apps of recent years for people from all walks of life. These are the ones you need to try.
Image credit: Bank Innovation
Stash is one of the oldest investing apps on the market to be geared towards Millennials—and it’s been wildly successful as a result. With this app, you only need $5 to invest in a massive variety of ETFs and stocks. Recurring payments, easy to understand charts, and tons of learning materials make it a great choice for first-time investors, or really anyone who wants to invest a couple of bucks per day.
The other major micro-investing app to make waves on the Wall Street front is Acorns. This simple app rounds up spare change on purchases you make and invests it into a predesigned fund that is designed to fit your investing goals. It’s simple, sweet, and allows you to "set and forget" at least one portion of your financial health.
One of the newest trading apps on this list is iBillionaire, and it’s an app that allows you to invest in ETFs modeled after the choices of the richest people in the world. It also has extremely aggressive growth funds, including one that features cryptocurrency that has had approximately a 600% gain in the last year. Minimum investments range from $5 to $100, making it a fun "middle of the road" investment option. Image credit: iBillionaire
Most of the new investing apps that are geared towards newbies focus on ETF investments, but not this one! Robinhood is a fee-free investment app that offers both stocks and cryptocurrencies. Needless to say, it’s gotten a lot of traction over recent years.
Clink is one of the lesser-known apps for investing on the market, and honestly, it’s a bit less user-friendly than others due to the bank account signs up issues some experienced. However, it offers the same amount of investing power, automated round-ups to further your savings, and gives you a little bit of control over what your money goes into. Overall, it’s not a bad app.
Though Qapital is technically just an automated savings app, it’s still worth discussing on this list for one good reason: they’ve announced that they are going to eventually have to invest as a feature. So, if you have savings already, they just might start working even harder for you. Image credit: Qapital
Do you like to organize your life around themes? Then you’ll probably enjoy Motif. This is one of the new investment apps that allows you to put your money into themed ETF investment accounts. You can choose from tech-themed stocks to specialized growth-themed stocks, to a bunch of others. It’s not too bad, but it is a bit pricier to join than others on this list.
Sigfig is a little bit closer to old school Wall Street than a lot of these apps. Like Robinhood, it shows you regular updates on your stock portfolio. Unlike Robinhood, you can choose to have a fully-automated portfolio that’s managed and designed to work with your goals. Experts at Sigfig also can analyze your investments and guide you towards better options.
If you have a spouse that’s terrible at saving, or if you want to manage your investments together, Twine is one of the better apps to work with. As the name suggests, this app is about tying your accounts together and working towards common investment goals. It may take two to tango with this app, but the payoff is great.
Image credit: Twine
Here’s one of the newest investment apps for people who are low on cash—and it’s pretty neat. Dvendo is a micro-investment app that works by rounding up purchases you make, then investing the money it takes into accounts that you choose. Unlike Acorns, this gives you a little more control and also offers bond investments. Fees are low, and returns are decent.