If you’re new to the fast-paced world of investments and finance, the first step would be picking an investment app. Investing is one of the smartest choices you can make to secure your future financial status. The apps have made it easier to adapt to the investing world and instantly carry out the process with your phone.
With so many entrenched brokerages and start-ups offering investment apps, the options can be overwhelming. For seasons day-traders, the app should be more than just charts and stocks. Picking the right investment app, which is best suited, is no small task. To help you with your journey to find the best investing app, we have analyzed and spotted the top ones.
The Best Investing Apps In The Market
We have curated this list keeping in mind all types of investors and their varied requirements. The features and benefits listed for each app will help you make a wise decision.
1.) eToro Review – Our Top Pick For The Best Trading App
eToro was founded in 2007 and is based in Israel. Etoro currently operates in over 140 countries around the world. Initially, eToro was more focused on creating a graphically driven forex platform that has overtime adapted tools for crypto trading.
If you want to get your investment game right, you need to have the eToro app on your phone. Whether you are a novice or a professional, you will find the eToro app to be extremely guiding. The special features that come along with the app are not only unique, but it gives the user an edge in the modern markets.
eToro is a trading platform that has a variety of CFD products. If you download the eToro app, you will notice that it has a user-friendly interface and extraordinary social features. Over the years, they have acquired several milestones in the financial world.
Features
- Simple user interface
- It provides a demo account
- The app has a social wall
- It is available for both iOS and Android
- The ‘CopyTrader’ feature is useful
More About eToro
With the eToro app, you can deal with four instruments, namely forex, crypto, stocks, and commodities. Any trader or investor will find these instruments to be very useful and sufficient to make profits. The broker has currently slashed some spreads to enhance user experience.
There are two account types offered by eToro. One is the regular eToro account through which you can trade all assets on eToro. This account also features a zero-trading fee besides offering a CopyTrader AI bot.
The eToro club account members get an extra bunch of benefits. You must have a regular eToro account before you upgrade to the club account. The club account is tiered, starting from silver and ends at the diamond. Each tier is tied with additional features that are very useful while trading.
One of the most significant tools for a trader is leverage. The best part is that eToro offers leverage trading for all types of instruments on the app. This means that you will be able to trade with a higher amount than you deposit. This may surely sound like an amazing feature but be careful as it exposes you to larger losses.
The retail traders can use a leverage of 30x their margin. The amount of leverage also depends upon what you’re trading. The eToro app states all the different leverage levels for each instrument.
The deposit and withdrawal methods are the same on the eToro app. They have numerous funding and withdrawal methods like credit/debit cards, PayPal, Skrill, WebMoney, Wire Transfer, etc. All these methods take different time to process the funds into the account.
Trust & Safety
eToro is a safe trading app because it is regulated by some of the top-tier financial authorities. It is trading under the regulations of ASIC, FCA, and AFSL. Moreover, the platform uses the best security process to secure funds and information. The app has the highest standards of cybersecurity.
Pros
- The app and the platform is easy to use
- The level of cybersecurity is assuring
- Free stock and ETF trading
- Seamless account opening
- Social trading experience
Cons
- The forex fee is high
- The fund withdrawal methods are sluggish
- Only one account base currency is available
- The spreads are large
Why Is eToro Our Top Investing App?
eToro is undoubtedly one of the best investment apps you will ever come across. This app has a lot of unique features that result in a positive user experience. Features like social trading and copying other successful traders are one of the main reasons this app is our top choice.
This investment app has a zero-commission stock trading, which is an ultimate game-changer. eToro makes cryptocurrency trading much more uncomplicated than existing platforms. The experience for US residents is much finer due to more flexibility granted to them. The eToro app has garnered positive reviews on the Play Store and App Store.
2.) Acorns Review
Acorns has modernized the old school way of saving money by combining the Robo-advisor model with an automated savings system. Acorns is more multipurpose than you think. For many of us, trading and investing can be overly challenging and perplexing if you don’t know the basics. Acorns aims to make the trading app more user-oriented and easier.
Acorns is a micro saving smartphone application that makes investing easier than ever. The app caters to a more young generation who are tech-savvy. The app is available at Google Play Store as well as the Apple App Store.
Features
- The app features Grow Magazine, which provides important information to the
investors
- The Acorns later account supports IRA accounts
- Acorns offers gift cards that can be bought from the app
- Acorns multiplier allows you to boost the funding
More About Acorns
Acorns is a very different and unique investing platform that has come up with revolutionary investment ideas. The app uses modern portfolio theory to customize your accounts and keep them on track. To operate the Acorns account, you just have to link a credit card.
The app automatically rounds up your purchases on the card to the next dollar. The ‘round-up’ amount is invested in a portfolio of BlackRock and Vanguard exchange ETFs. Acorns only has a handful of pre-made investment choices. With Acorns you don’t have to scrounge and dig for stocks to compare them.
You can alternatively set up an Acorns Core account and Acorns Later account, which comes with a range of benefits. The only customizable option on the app is to choose from a conservative to an aggressive portfolio.
Trust & Safety
The safest thing about investing with the Acorns app is that you’re not exposed to the risk of large losses. Since you are investing only spare change or petty amounts, you don’t have to be worried.
Acorns have taken several measures like SIPC protection for accounts and FDIC insurance for the users. The SSL encryption secures your personal and financial data. The platform also alerts the user in case any unusual activity is identified.
Pros
- Savings are painless with Acorns
- It is free for college students
- Automatically invests the spare change
- Extra rewards like a coupon from retailers
Cons
- The investment portfolio is limited
- High charges levied on small funds
- The account options are limited
3.) TD Ameritrade Review
TD Ameritrade is the ultimate destination for traders. It is a fantastic trading platform backed up by market research. TD Ameritrade is an Ohama-based brokerage platform and affiliated by TD Bank. The platform is dynamic as is offers trading services and retirement planning products as well.
It has over 7 million active users and processes nearly 650k trades daily. TD Ameritrade is a flexible and versatile investing platform for investors of all levels. The firm has a range of trading platforms and innovative tools to facilitate a better experience.
Features
- TD Ameritrade app makes viewing market news, analyst reports, and research easier
- You can set up price alerts on the Ameritrade app
- It offers education and recommendations for beginners
- A wide selection of investment tools
More About TD Ameritrade
TD Ameritrade brings all significant US trading markets, including NASDAQ and NYSE, to its traders. The financial instruments that can be traded on the platform are stocks, mutual funds, ETF, Forex, options, and futures. A platform with so many instruments allows flexibility and is suitable for all types of investors.
If you are looking to open a standard account, it is relatively simple. The standard accounts have a variety of financial instruments. The standard accounts can be opened jointly or individually and can be upgraded for forex, options, futures trading as well. TD Ameritrade also supports account options like retirement, education, and specialty. The margin trading and managed portfolios are more advanced account types.
For a trader, having leverage is the most significant benefit an investment app can offer. The Forex spread of TD Ameritrade matches the industry standards, and it can be leveraged for maximizing profits. Trading on margin has the potential for both profits and losses.
The TD Ameritrade charges a high cost on margin and is regarded as one of the most expensive in the industry. The starting margin range is 7.75%, and the maximum is 9%. You must maintain a balance of $2,000 to operate a margin account.
Trust & Safety
TD Ameritrade can be considered as a safe investment app as it has been in the industry for quite some time. The platform is also listed on a stock exchange. It is regulated by regulators like the Financial Industry Regulatory Authority (FINRA), Securities And Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC).
Pros
- The investment app is user-oriented and simple
- The customer support is excellent
- There is a huge selection of instruments
- No transaction fee on mutual funds
Cons
- Trading cost is very high
- The security should be improved with implementing a two-factor authentication feature
- Allows to trade only in US markets
- The payment methods don’t include credit/debit cards, electronic wallets, or money transfer
4.) Robinhood Review
Robinhood was founded by Vladimir Tenev and Baiji Bhatt in April 2013. Robinhood is free of cost trading app that is built for investors willing to trade stocks, cryptocurrency, options, and exchange-traded funds. Robinhood was one of the first apps to offer free trades and zero commissions.
Robinhood’s claim to fame was through free trade that faded as more brokers adopted zero-commission policy. Near about 10 million people hold an account with Robinhood making it one of the most preferred platforms. The Robinhood app is perfect for both beginners and tech-savvy people. Most of the app users are millennials, with an average of 26.
Features
- The mobile app includes customizable alerts
- You can go through daily updates on financial markets available on the app
- Robinhood offers commission-free stock
- A Robinhood Gold account allows users to trade on a margin
More About Robinhood
Robinhood hood has a massive amount of tradeable securities like stocks, ETFs, Cryptocurrency, options, and American Depository Receipts for over 250 global companies. The Robinhood app is one of the rare platforms that allow investors to trade cryptocurrency.
The trading experience with Robinhood is easy and streamlined. There are three types of accounts you can open with Robinhood. The Standard account where you can have instant deposits. The Gold account is an upgrade that has additional buying power and greater instant deposits.
One of the biggest perks of having a gold account is that you can enjoy extended trading hours. The cash account channelizes commission-free trades in equities without instant deposits. You can always downgrade to a cash account from a standard or gold Robinhood account.
To start trading with Robinhood, you will need to deposit funds. If you want, you can link your bank account directly to Robinhood for seamless transactions. As of now, the brokers do not support alternate methods of funding.
Trust & Safety
Robinhood is regulated by the Securities And Exchange Commission (SEC) just like other brokers. The investment accounts are further covered by the Securities Investor Protection Corporation (SIPC). You must be careful while managing a diverse portfolio on the Robinhood app as it overweighs and isn’t practical.
Pros
- The zero-commission policy is very useful
- The app has a straightforward approach and not complicated
- It facilitates Free bank transfers
- Quick and full-digital account opening
Cons
- The research and education is limited
- It has a very basic charting method
- Data can be delayed up to 20 minutes, which is risky
- Weak customer support
5.) Fidelity Investments Review
Fidelity owns a large market share in the US and is designed to cater to a vast majority of investors. Fidelity is one of the supreme brokerage platforms for investors focusing on long-term and retirement-focused investments. The firm is more focused on retirement education, including retirement tools and calculators.
The investing app is more inclined towards creating an extraordinary experience for traders and investors. The Fidelity mobile app is a notch higher than other investing apps. The app integrates with both Apple Watch and Google assistant to provide more extensive features.
Features
- Fidelity offers fractional share investments
- $0 commission fee on ETFs, stocks, and options trades.
- No minimum deposit required with Fidelity apps
More About Fidelity Investments
Both professional and beginner investors will find the range of instruments to be adequate and profitable. The investment products proffered by Fidelity are ETFs, stocks, bonds, options, and mutual funds. The zero-percent commission on ETF is a cherry on the top for traders.
Traders can trade through Fidelity by opening an account with them. While registering, you might notice there are multiple types of accounts listed by them. You can find accounts ranging from investing and trading accounts to retirement savings accounts.
Fidelity also scores maximum points with the best research tools in the market. The mobile app allows traders to view real-time market quotes for logged-in traders. If you aren’t logged in, you can expect a delay of up to 15 mins. You can also have a clear view of our transaction history in the Fidelity app.
The cut-throat competition in the market has resulted in Fidelity to charge no inactivity or withdrawal fees. The investment app supports 16 base currencies hence attracting traders all over the country. You can learn the basics of the platform by opening a demo account.
At Fidelity, you can learn about trading in the most in-depth ways. The video tutorials, general education clips, webinars, and articles are great learning resources. All these features of Fidelity make it an all-rounder in the financial market.
Trust & Safety
Fidelity investment platform is one of the most trusted and reliable brokerage firms available in the American market. This broker is regulated by top-tier agencies like the Financial Industry Regulatory Authority (FINRA) and Securities and Exchange Commission (SEC). Note that investing is never an exact science. It is possible to incur losses in financial markets with any brokerage firm.
Pros
- The trade execution is hassle-free
- The news feed is versatile and customizable
- The uninvested fund is swept into a money market fund
- Robust features in the mobile app
- Mostly all account type is supported by the app
Cons
- Extra fee for phone traders
- Non-US citizens cannot access the platform
- No option of commodities or options on futures
6.) Stash Review
Traders interested in minimal funding platforms should resort to Stash. Stash is a flexible micro-investing app that operates very similarly to Robo advisors. It is another investing app that comes from America and is based in New York. The investment platform has both a web portal and an app. It is ideal for beginners who want to explore the realm of financial markets.
Post-signing-up with Stash, you will be able to build your portfolio based on personal objectives and risk tolerance. The Stash app is available for both Android and iOS smartphone users. Though Stash does not require large funds, their cost of services is hiked.
Features
- Enhanced safety with two-factor authentication
- The Stash coach is a unique feature which guides beginners
- You have the option to opt for automated investments
- Investors can buy fractional shares
More About Stash
Stash is an easy-to-use investment app that is apt for beginners. For opening a Stash account, you have to answer a list of questions. These questions are directly related to investments and financial aspects. This questionnaire is important as it determines the viable investment options for you.
Stash does not have as many options as a broker when it comes to holding stocks. They have stocks and ETFs from companies like Charles Schwab, iShares, Vanguard. Stash renames their stocks and ETFs so that they are uncomplicated for customers. A few professional investors might disagree with the renaming policy because it might be confusing for them.
The subscription plan starts at $1 and includes other options that cost $3 and $9 monthly. Each of these plans come with different utilities. If you are investing in ETFs, Stash will charge you an additional amount known as a management fee.
Trust & Safety
When you hear about such unusual yet amusing investing app features, you tend to have doubts about safety. The good news is that Stash is a secure and reliable app. Stash uses 256k bit encryption and biometric protection for all users. The funds and profits held in your account are insured by the Securities Investor Protection Corporation (SIPC).
Pros
- Very beneficial for investors with small funds
- Curated investment choices
- The diverse educational content helps you with all the basics
- The app is user-friendly
- Stash offers Stock-Back rewards
Cons
- The monthly fees can feel burdensome for investors with low balance
- The ETFs offered by Stash has a high expense ratio
7.) E-Trade Review
E-trade is an online brokerage pioneer and has been a popular choice for investment among many investors. You must get to know about E-Trade before you sign-up with them and start investing. The company came into existence almost three three decades back and was founded by William A. Porter and Bernard A. Newcomb in California.
Within the next ten years, this company collected revenue of almost $11 million with a massive amount of users. Currently, E-Trade is headquartered in New York and is spread all across the globe. Their effective marketing methods have helped them reach out to maximum investors.
Features
- Two excellent mobile apps for different trading styles
- The E-Trade mobile app provides real-time data
- E-Trade also consists of third-party research sources
- The education section is comprehensive
- E-Trade also has automated trading
More About E-Trade
E-Trade has had a remarkable journey and plans to diversify on the options of instruments available. Presently, you can trade stocks, mutual funds, ETFs, bonds, penny stocks, futures, and options. The only drawback of E-Trade is that they do not offer Forex trading, which has an increasing demand in the market.
You will be able to find all types of accounts under one roof with E-Trade. Ranging from joint brokerage accounts to managed accounts, they have it all. For investors looking for simple choices, the standard account will be suitable. Other than Standard accounts, opting for any other account will require you to fulfill a few criteria and provide more documents.
Traders will be contented to know that E-Traders allow up to 50% leverage rate. If the leverage is used correctly it can generate a good profit for investors. It will further enable you to surmise on financial markets, from foreign stocks and gold to cryptocurrencies like bitcoin futures.
Trust & Safety
If you are looking for a trustworthy and secure platform, you will have no issues with E-Trade. The E-Trade platform is FDIC-insured and they are complying with all license and registration requirements. E-Trade is a part of SIPC, implying that your funds are insured for up to $500,000 in cash and securities.
Pros
- E-Trade offers volume discounts for traders who are active
- The entry requirements are minimum and flexible
- Both mobile apps work smoothly
- The platform is safe and secure
- The customer support is reliable and operated 24/7
Cons
- The app does not support Forex trading
- No demo account
- The rate of commission is high
Bottom Line
To give you the best options, we considered all leading investment apps. These apps that have found their position on this list were chosen according to various parameters. This list explores investment apps that will be suitable for both beginners and experienced market players.
The listed apps were picked based on user experience, types of accounts supported, features, and instruments available. This list is only to help you take a look upon the best app and its features. You must research investing strategies before you select an investment app. All these investment apps are available on Android and Apple gadgets.
