Arzoo Tech and Fun: The 7 best investment apps for beginners

The 7 best investment apps for beginners

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

The best investment apps for beginners offer low fees and access to the types of accounts and investment products you care about most. The app you choose should suit your investment style and offer the tools you need (e.g., educational guides and/or courses, human advisor access, and strong customer support) to achieve your financial goals.

Account Minimum

$0 ($5 to start investing)

Fees

$3/mo. for personal accounts or $5/mo. for families

Investment Types

ETFs. Acorns diversified portfolios are built by experts and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock.

Account Minimum

$0 ($5 to start investing)

Fees

$3/mo. for personal accounts or $5/mo. for families

Investment Types

ETFs. Acorns diversified portfolios are built by experts and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock.

Investment Details

Account Minimum

$0 ($5 to start investing)

Fees

$3/mo. for personal accounts or $5/mo. for families

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. Helpful automatic saving and investing tools Check mark icon A check mark. It indicates a confirmation of your intended interaction. Portfolio suggestions built to match your risk level Check mark icon A check mark. It indicates a confirmation of your intended interaction. "Found money" invests a percentage of your purchases from certain companies

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. Flat monthly fee is on the high side, especially for smaller accounts Dash icon A dash. It often indicates an interaction to shrink a section. No option to choose individual investments Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Compare the best investment apps for beginners Best overall: SoFi

Account Minimum

$0 ($1 to start investing); $5 fractional shares

Fees

0% for active trading and automated investing (1.25% for cryptocurrencies)

Investment Types

Stocks, ETFs, IPOs, and cryptocurrencies

Account Minimum

$0 ($1 to start investing); $5 fractional shares

Fees

0% for active trading and automated investing (1.25% for cryptocurrencies)

Investment Types

Stocks, ETFs, IPOs, and cryptocurrencies

Investment Details

Account Minimum

$0 ($1 to start investing); $5 fractional shares

Fees

0% for active trading and automated investing (1.25% for cryptocurrencies)

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum to start investing Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account or trading fees, and low fees to own funds Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Certified Financial Planners at no additional charge Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency trading and IPOs available

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. No tax-loss harvesting, an advanced investing technique where you sell a stock or mutual fund at a loss for a tax benefit Dash icon A dash. It often indicates an interaction to shrink a section. No option for stop-loss orders when actively investing. SoFi's active investing account only uses market orders Dash icon A dash. It often indicates an interaction to shrink a section. Currently only available to US residents Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Why SoFi made our list:

SoFi is a top pick for beginners thanks to an easy-to-use platform paired with rock-bottom pricing. You can get started at SoFi Invest with just $1, and there are no commissions for trades and no recurring account fees. Even the managed portfolio product, SoFi automated investing, where your ETFs are all picked and managed for you, is free to use.

The app includes stocks and ETFs listed by category, making it easy to browse potential investment opportunities. It doesn't have the most in-depth investment research, but there is enough to get you started and guide your trading decisions. In addition to cryptocurrency trading (for bitcoin, ethereum, dogecoin, and more than 27 other coins), you can also access investment education articles from inside the app. Note, though, that SoFi charges a 1.25% markup on crypto transactions.

As an added bonus outside of the app, SoFi offers complimentary financial planning sessions for all members, among other benefits. You'll be able to work with certified financial planners (CFPs) who can help you reach your goals. If you are a beginner and want help putting an investment strategy together, SoFi is an ideal place to start.

What to look out for:

SoFi doesn't offer tax-loss harvesting.

Best overall runner-up: Ally Invest

Account Minimum

$0 ($100 for Robo Portfolios)

Investment Types

Stocks, ETFs, options, bonds, mutual funds, and forex

Account Minimum

$0 ($100 for Robo Portfolios)

Investment Types

Stocks, ETFs, options, bonds, mutual funds, and forex

Investment Details

Account Minimum

$0 ($100 for Robo Portfolios)

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account minimums or commissions for trading Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated portfolios free of advisory or management fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. Options contracts only cost $0.50 per contract Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bank accounts, mortgage refinancing, car loans, and personal loans available through Ally Bank

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. Thousands of mutual funds but no no-transaction-fee mutual funds Dash icon A dash. It often indicates an interaction to shrink a section. No cryptocurrencies Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Why Ally Invest made our list:

Beginners often do well with simple and straightforward investment platforms. Ally Invest offers just that through its mobile app. You can trade stocks and ETFs with no commissions; mutual fund trades will incur a $9.95 commission fee. There are no recurring fees or minimum balance requirements to worry about.

Plus, if you prefer the robo-advisor route, Ally Invest Managed Portfolios creates a personalized portfolio of ETFs for you. The account gives you the choice between four portfolios: Core, Income, Tax-optimized, and Socially Responsible. You'll just need a minimum of $100 to get started, and you won't have to worry about any advisory fees.

The Ally app, which is also used by Ally Bank, is straightforward and easy to navigate. It doesn't have as many bells and whistles as some active trading platforms, but it has everything a beginner and most passive investors might need.

What to look out for:

Ally Invest offers wealth management services, but you'll need at least $100,000 to get started.

Best for automated investing: Acorns

Account Minimum

$0 ($5 to start investing)

Fees

$3/mo. for personal accounts or $5/mo. for families

Investment Types

ETFs. Acorns diversified portfolios are built by experts and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock.

Account Minimum

$0 ($5 to start investing)

Fees

$3/mo. for personal accounts or $5/mo. for families

Investment Types

ETFs. Acorns diversified portfolios are built by experts and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock.

Investment Details

Account Minimum

$0 ($5 to start investing)

Fees

$3/mo. for personal accounts or $5/mo. for families

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Cons

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Why Acorns made our list:

Acorns is an investment app for people who know they should be investing but don't have or want to spend the time to manage it themselves. For $3 per month, Acorns will take care of everything. That includes automatic spare change investing through transaction round-ups, automated transfers, retirement account saving, banking perks, and a fully automated investment plan.

And for both of its pricing plans, Acorns Personal and Acorns Family, the platform invests your money into a diversified portfolio of ETFs.

The big upside of Acorns is that it's so easy to use. The big downside is that there's a fee no matter what. This is arguably better than asset-based fee deductions which fluctuate as your balance grows. With the monthly fee, you'll pay the same amount every year. For additional accounts and features, including investment accounts for children, you'll have to pay $5 per month.

What to look out for:

You won't be able to choose individual investments with Acorns.

TD Ameritrade investment account

Account Minimum

$0 ($5,000 or $25,000 for managed accounts through Schwab)

Fees

0% ($300 one-time fee and $30/month for advisor-managed account through Schwab)

Investment Types

Stocks, ETFs, options, mutual funds, futures, forex, IPOs, and bonds

TD Ameritrade investment account

Account Minimum

$0 ($5,000 or $25,000 for managed accounts through Schwab)

Fees

0% ($300 one-time fee and $30/month for advisor-managed account through Schwab)

Investment Types

Stocks, ETFs, options, mutual funds, futures, forex, IPOs, and bonds

On TD Ameritrade's website

Investment Details

Account Minimum

$0 ($5,000 or $25,000 for managed accounts through Schwab)

Fees

0% ($300 one-time fee and $30/month for advisor-managed account through Schwab)

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free commissions on stock, ETF, and option trades Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum requirement to get started with brokerage account Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large investment selection Check mark icon A check mark. It indicates a confirmation of your intended interaction. Research and educational resources available

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. No fractional shares Dash icon A dash. It often indicates an interaction to shrink a section. Robo-advice and managed portfolios are more expensive Dash icon A dash. It often indicates an interaction to shrink a section. No cryptocurrencies Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Why TD Ameritrade made our list:

If you are new to the markets and plan to get into active trading, TD Ameritrade is a good place to start. It charges no commissions for stock or ETF trades and offers multiple account platforms that align with various investment styles and goals.

When you're starting out, you'll probably feel most comfortable in the main TD Ameritrade app. As your investment skills grow, you can upgrade to thinkorswim, the premier active trading platform from TD Ameritrade. It has tons of useful features for active traders. Important for beginners, there's a feature to chat with an expert trader inside of thinkorswim.

What to look out for:

Important to note: Charles Schwab acquired TD Ameritrade in 2020. However, Schwab has announced it plans to keep TD Ameritrade's thinkorswim in its product lineup going forward. TD Ameritrade's managed accounts (Essential Portfolios, Selective Portfolios, and Personalized Portfolios) are also no longer available to new clients, but prospective investors can alternatively invest in managed accounts through its partner, Charles Schwab.

Best for social investing: Public.com

Fees

0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month

Investment Types

Stocks, ETFs, alternative assets, and cryptocurrencies

Fees

0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month

Investment Types

Stocks, ETFs, alternative assets, and cryptocurrencies

Investment Details

Fees

0% stocks and ETFs; Crypto: 1% or 2% markup; Alternative assets: 2.5% per transaction; Public Premium: $10/month

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums and commission-free trading on stocks and ETFs Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency trading available for more than 25 coins and tokens; alternative assets available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers fractional share investing for as little as $1; Premium plan includes advanced market data and insights Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several community features that allow you to share insights and receive insights from other users; educational resources like live audio events also available

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. No mutual funds, bonds, or options Dash icon A dash. It often indicates an interaction to shrink a section. Not the best platform for day traders; it doesn't allow day trading of stocks Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Why Public.com made our list:

When you're a beginner in the stock market, it can feel intimidating to research and choose stocks and other investments on your own. Public combines features from social networks like Facebook and Twitter with traditional brokerage features. That makes for an investment app ideal for beginners learning their way around the markets.

Not only can you learn from the portfolios of other experts by following their posts in the Public feed, you can also create group chats with other users and participate in live investing events and conversations. Plus, you can invest in more than 25 cryptocurrencies, including bitcoin, dogecoin, and ethereum. However, you'll incur a 1% or 2% markup for each crypto transaction (note that crypto trading isn't available to New York, Guam, or US Virgin Islands residents).

With fractional shares starting at $5, you can also buy into a huge number of supported companies without putting up enough cash for a full share. Public also recently launched alternative assets on its platform, so you can now exchange art, NFTs, collectibles, and more for 2.5% per transaction.

What to look out for:

While it doesn't offer every popular type of investment, it covers stocks and ETFs in a way that's great for newer investors or even experienced investors looking to improve their investment strategy.

Best for no commissions: Robinhood

Account Minimum

$0 ($1 for fractional shares; $2,000 for Robinhood Gold)

Investment Types

Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs

Account Minimum

$0 ($1 for fractional shares; $2,000 for Robinhood Gold)

Investment Types

Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs

Investment Details

Account Minimum

$0 ($1 for fractional shares; $2,000 for Robinhood Gold)

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free stock, option, ETF, and cryptocurrency trades; 1.5% APY on uninvested cash Check mark icon A check mark. It indicates a confirmation of your intended interaction. IPO investing available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fractional shares and margin investing Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash management accounts available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Website is easy to navigate; advanced charts for all users

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. Lack of investing research and trading tools; can only take advantage of professional research if you're a Robinhood Gold member Dash icon A dash. It often indicates an interaction to shrink a section. No retirement accounts, joint accounts, education savings accounts, or mutual funds Dash icon A dash. It often indicates an interaction to shrink a section. Limited customer service availability Dash icon A dash. It often indicates an interaction to shrink a section. Doesn't offer automatic transfer on death or allow users to name beneficiaries Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Why Robinhood made our list:

Robinhood is a pioneer in the no-commission brokerage model. It remains a solid choice for beginners, as they can invest in stocks, ETFs, options, and cryptocurrencies with zero commissions. Typical stock and ETF investors will be able to use Robinhood with no costs at all, though premium accounts are available with more features for a monthly fee starting at $5.

Plus, Robinhood offers commission-free cryptocurrency trading for several digital assets. Among these are bitcoin, ethereum, dogecoin, litecoin, and more.

What to look out for:

Robinhood has a history of controversies over downtime and how some users have been able to enter extremely risky trades that they didn't understand. As with any investment app, it's important for Robinhood traders to understand the risks of what they're doing so they can invest in line with their goals and avoid unexpected losses.

Investment Types

Stocks and ETFs

Investment Types

Stocks and ETFs

Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums, no recurring fees, and no gift card/funding fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. 1,000+ stocks and ETFs Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can fund account with bank transfer or stock gift cards Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fractional shares available

Cons

Dash icon A dash. It often indicates an interaction to shrink a section. Investment selection limited to stocks and ETFs Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

More Information

Why Stockpile made our list:

Stockpile also offers commission-free stock and ETF trades, and it provides some unique features that complement its $o commission fee structure.

Stockpile allows fractional share investing and supports the gift of stock through gift cards, which makes it perfect for the youngest investors.

If you are a parent, grandparent, aunt, uncle, or another relative who wants to help a child in your life learn how the stock market works, Stockpile is perfect for your needs. It makes it easy to gift stock and keep tabs on the account of a minor. It also makes it fun to navigate through supported stocks while educating users through "mini-lessons" that teach how to invest.

What to look out for:

Stockpile only offers stocks and ETFs, so you'll need to consider other platforms if you'd like to invest in additional asset types.

Other apps we considered

Webull: Webull is a newer commission-free investment platform. It may be a little more challenging for some newer investors to navigate but offers excellent pricing and investment tools.

Firstrade: Firstrade's web and desktop investment apps feel a little lower-tech, but its mobile app is simple and easy to navigate. It offers excellent pricing including commission-free mutual fund trades.

Stash: Stash is great for newer investors looking to learn how to invest and build the right mindset, but monthly $1 to $9 fees make it less appealing.

Blooom: Blooom is a great option for investors who want to automate retirement accounts such as employer-sponsored plans and IRAs. Something to consider, though, is that it doesn't support taxable brokerage accounts and your yearly fees will range from $120 to $395.

Compare our top picks for the best investment apps for beginners

TD Ameritrade investment account

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Editor's Rating

4.65/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

$0 trading or automated investing

Fee-free active trading and automated investing

Editor's Rating

4.08/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

$0 trading; $100 for automated accounts

Low-cost investing and banking features

Editor's Rating

4.11/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

Editor's Rating

4.73/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

$0 trading; 0.60-0.90% AUM

All-around trading and investing

Editor's Rating

4.36/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

Fee-free stock and ETF investing