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Investing apps can make it easier to manage your investment portfolio anytime and anywhere. Depending on your experience with investing and the features and investment options you want access to, one app may be a better choice for you than the others.
To help you find the best fit for you, here are our top picks for the best investing apps of 2024 and why you should consider them.
1. Robinhood
Robinhood offers a mobile-first experience with intuitive features that make it easy to buy and sell stocks, options, exchange-traded funds (ETFs) and certain cryptocurrencies with no trading commissions. You can buy fractional shares of stocks and ETFs for as little as $1.
And unlike most investing apps, Robinhood offers 24-hour trading five days a week for select stocks and ETFs. Other valuable features include access to initial public offerings (IPOs) and individual retirement accounts (IRAs).
While there's no monthly fee for a standard account, the firm also offers a premium Robinhood Gold tier for $5 a month, which comes with larger instant deposits, more interest on your uninvested cash, professional research and more.
Who it's best for: Beginner investors who want to learn how to manage their own portfolio with easy-to-use features, as well as experienced investors who prioritize stocks, ETFs and crypto in their portfolios
Minimum balance requirement: $0
Pros
- No trading commissions
- Expanded trading hours for select securities
- Low-cost premium tier
Cons
- Doesn't offer advisory services
- Limited investment options
- Few educational resources
2. Fidelity
Fidelity is a full-service brokerage firm that offers a wide variety of investment products and services. Account options include taxable brokerage accounts, IRAs, college savings plans, custodial accounts and health savings accounts, among others.
With the Fidelity app, you can invest in a broad range of assets, including stocks, ETFs, mutual funds, bonds, options, crypto, IPOs and certificates of deposit. Fractional shares are available for stocks and ETFs starting at $1.
Fidelity doesn't charge trading commissions for stocks and ETFs but may charge fees for other asset trades. It also offers some index mutual funds with no expense ratios. If you want help managing your portfolio, you can take advantage of the firm's robo-advisory service, or you can enlist the services of a professional investment manager.
Who it's best for: Investors who want access to more asset classes or prefer a hands-off approach to investing
Minimum balance requirement: $0
Pros
- Several account options
- Broad range of assets
- Provides advisory services
Cons
- Limited crypto options
- Charges hefty fees for broker-assisted trades
- Advisory service fees can be costly
3. Charles Schwab
Another full-service brokerage firm, Charles Schwab offers a full range of investment products and services for people who want it all. In addition to brokerage accounts, Schwab also offers IRAs, custodial accounts and college savings plans.
You'll be able to trade stocks, bonds, ETFs, mutual funds, options, crypto funds, foreign currency and futures. With stocks, you can buy fractional shares, though the minimum is $5, which is higher compared to other brokers.
Charles Schwab also offers a robo-advisory service, though you'll need $5,000 to get started. You can also take advantage of personalized financial planning and investment management for additional fees.
Who it's best for: Investors who want a range of asset options and a robust set of educational resources and advisory services
Minimum balance requirement: $0
Pros
- Broad range of account options
- Several asset classes
- Options for DIY and hands-off investors
Cons
- No individual crypto trading
- Fractional shares don't apply to ETFs
- Minimum investment requirement for robo-advisor
4. Acorns
Acorns makes it easy to get started with investing by rounding eligible debit and credit card purchases to the nearest dollar and investing the difference. In addition to brokerage accounts, the firm also offers IRAs.
However, instead of letting you pick stocks and other assets for your portfolio, Acorns automatically invests your money in ETFs that include stocks and bonds based on your risk tolerance. While you can't invest directly in crypto, you can put up to 5% of your portfolio in bitcoin futures.
Unlike other investing apps on this list, Acorns charges a monthly fee, which can range from $3 to $12, depending on which tier you choose. The most expensive plan allows you to invest in individual stocks plus a 3% match of your IRA contributions.
Who it's best for: Beginner investors who need help making regular contributions to their portfolio and managing their funds
Minimum balance requirement: $0
Pros
- Automatic investing based on your spending
- Hands-off investment management
- Robust educational resources
Cons
- Charges a monthly fee
- Minimal investor autonomy
- Limited assets
5. Public
Public offers individual brokerage accounts with a lot of flexibility. You can decide to invest in assets individually or through a plan based on your risk tolerance. Options include stocks, bonds, ETFs, options, crypto, royalties, fine art and collectibles.
If you need help making investment decisions, you can take advantage of Public's artificial intelligence research assistance, which can give you real-time information about the assets you're considering.
There's no monthly fee for a basic account, but you can upgrade to a premium plan for $10 a month, which comes with additional tools and insights, extended-hours trading and more.
Who it's best for: Investors who want flexible asset options and extra help when making investment decisions
Minimum balance requirement: $0
Pros
- Several asset options
- AI-powered research
- Robust educational resources and tools
Cons
- Doesn't offer advisory services
- Only offers brokerage accounts
- Must pay extra for additional tools
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How to Use an Investing App
No two investing apps are exactly the same, so your experience may vary slightly from one to another. However, here are some general steps you can take to get started with an investing app:
- Shop around. Start by researching and comparing several options to determine which app is best for you. As you compare brokers, pay attention to their account and asset offerings, fees, advisory services, educational resources and other features that are important to you.
- Open your account. Once you decide on an app, download it from your app store and set up your account. You may need to provide some basic information about yourself, your investment experience, risk tolerance and goals. You can also link your bank account information to make transfers.
- Build your portfolio. If you're using an app that creates a portfolio for you, you may need to answer some questions to get the right mix of assets. However, if you're investing completely on your own, do some research about the assets you're considering and start building a diversified portfolio.
- Track your portfolio. Investing apps make it easy to keep track of your portfolio. Over time, you can make adjustments based on your investment strategy and the performance of your investments.
More Ways to Invest
While an investing app is a great way to build a portfolio, it's just one of many ways you can invest for the future. Here are some other potential options to consider:
- 401(k) plan: If your employer offers a 401(k) plan, you can sign up for automatic deductions from your paycheck. In many cases, employers are willing to match some of your contributions, increasing your savings rate for retirement.
- IRA: If the investing app you chose doesn't offer IRAs, you can open one separately with another brokerage firm to start making contributions to your retirement plan.
- Real estate: If you're looking to broaden your asset allocation, you can also invest in real estate, either directly with investment properties or indirectly through a real estate investment trust (REIT). In fact, some REITs trade on major stock exchanges, so you may be able to access them through your investing app.
- Peer-to-peer lending: Some lenders offer peer-to-peer loans that are funded by individual investors. While there's a risk of default, peer-to-peer loans can be a good way to diversify a well-established portfolio.
- Small businesses: Websites like Localstake make it possible for individuals to invest in local small and medium-sized businesses. If there's a particular business that you feel good about, you may be able to become a shareholder.
Learn more >> How to Start Investing
Frequently Asked Questions
An investing app is a mobile app offered by a brokerage firm, with which you can buy and sell securities and manage your portfolio on the go.
Ultimately, it depends on which app you choose. While some may limit you to investing in stocks and ETFs, others may offer a broader range of options, including bonds, mutual funds, options, crypto, foreign currency, futures and more.
Investing apps are generally safe to use, particularly if you use security features like biometric and multifactor authentication. Brokerage firms use up-to-date security technology to safeguard your login credentials, as well as your personal and financial information.
Depending on which app you choose, you may be able to start investing with as little as $1. Carefully research and compare several options to determine which one is best for you.
The Bottom Line
Investing apps can make it easy to start investing and manage your portfolio wherever you are. However, investing can come with a host of risks regardless of where you put your money.
As a result, it's important to educate yourself about how to choose the right investments for your portfolio based on your situation and goals. If you're feeling overwhelmed, consider consulting with a financial advisor who can provide personalized advice and possibly even help you manage your investments.