Introduction
Today you can do almost anything on a mobile device. While mobile money management and investing is nothing new, the sheer number of investing apps can make it difficult to know where to start. Find out how to start investing on your mobile device with this list of the 5 best investing apps that are ideal for beginners.
Top 5 investing apps for beginners in 2023:
- SoFi Invest
- Betterment
- Charles Schwab
- Acorns
- Stash
1. SoFi Invest
As an investment app for new and advanced investors, SoFi’s investment platform offers the benefits of trading without fees or commissions in an easy-to-use interface. In addition, users do not need to have a minimum balance and can start investing with just one dollar. You can always diversify your portfolio between ETFs, stocks, and even crypto, or sit back and let SoFi do it for you.
2.Betterment:
If you want to start investing, but want someone to do all the work for you, Betterment may be the app for you. For a relatively low annual fee of 0.25% of your account balance, the app does all the trading and rebalancing of your portfolio for you. This app is ideal for beginners with specific investment goals, as Betterment’s portfolios are specially designed to help you increase your money for retirement, major purchases, or even your children’s education.
3. Charles Schwab
Schwab Mobile makes it easy for those who want to take control of their investments. With a secure platform that can be customized to meet your needs, improve your investing skills and start trading on the go. With access to free research and even a smart assistant, you can quickly improve your knowledge and invest effectively. With no fees, commissions or minimum balance, Schwab allows you to try and make investing more accessible to those who may even be afraid to start. Since you are in control of your portfolio with this app, you can use this investment calculator to decide if your return is worth it.
4. Acorns:
Always wanted to start investing but don’t think you have the necessary funds? The Acorns app takes that excuse away by helping you automatically invest what you already have. With monthly plans ranging from one to five dollars, Acorns completes any purchases you make and reverses the change. Acorns manages your portfolio for you across all pricing plans and helps you meet your investment goals.
5. Stash:
The Stash app helps newbies invest for the long term by starting small. Take advantage of Stash’s excellent educational resources to improve your skills. Once you’re ready, you can invest in fractional stocks for just $ 1 per month. As your knowledge improves, you can update your pricing plan to access more features.
Conclusion
There is an app for everyone, whether you are a seasoned investor or a beginner. For those who want to get started, choose an app that matches your investing style and goals. For more on the pros and cons of the best investing apps for newbies, check out the Mint infographic below.