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10+ Must-Have Best Investment Apps in 2021

Warren Buffet rightly said, if you don’t find a way to make money as you sleep, you’ll work until the day you die. This sentiment of investing, a practice preached by many, has always yielded great results. But while Warren had the aspirational objective to pursue investment as a career, we understand not all are meant to walk the same road to multiply savings. And so we thought to spoon-feed the beloved reader, with our top picks for investment apps, that’ll do the bidding for you in 2021.

Investment is a crucial financial activity that has been a part of our system for centuries. We invest according to our goals and capacities. From gold, real estate, stock to commodities, investment had been the step for further development of the economy as well as the personal fortune of the investor.

Our Top Picks

Today, times have changed and investment is best done with the help of technology. These apps allow you to take control of your investments, keep an eye on the prices at all times, maintain your history, and provide you all the tools you need at your fingertips. We bring to you what the best investment apps have to offer.

Best Investment Apps for 2021

Acorns — Best Stock App for Part-Timers

Acorns are best suited to people who have a basic understanding of the capital markets. This best stock market app targets that penny-change lying idle in your savings account. On downloading, users link their bank accounts to the app and answer a few questions. As you use the card linked to that account for everyday purchases Acorns rounds-up the money to the nearest dollar and keeps track until the total of those comes up to $5. It is then that this best stock app invests the money into ETFs, Exchange Traded Funds.

Accredited users are charged $100 for every $1 million they invest after touching the threshold of $1 million for the first time. Acorns win hands-down against conventional portfolio advisory services as they have a minimum balance threshold of $25,000 with a fee of up to 1.25%.

The best features of this best stock app for beginners are

• Monthly $1 Fee for balances under $1 million
• Investing as little as $5
• Automated investment as per user profile
• 7000 stocks and bonds to invest through ETFs
• The Acorns Later feature, lets you save for retirement
• Access to the Acorns Spend debit card

Betterment — Best Investment App for DIY Investors

For lone wolves or contrarian investors whose investment decisions are based on weeks of research, Betterment is the best stock trading app. It lets you automate amounts that’ll be invested weekly/monthly to either individual stocks or the 150 ETFs which Betterment associates with. Also, the best stock market app, recommends guides to further embolden your financial know-how.

The Betterment stock trading app serves to balance and diversify risk in a portfolio. Right before the account is set up, users answer questions that let Betterment-bots identify risk tolerance. The bots suggest guides to broaden the knowledge but the call to place the funds belongs to the customer.

The best features of this stock trading app are

• Allows a retirement account
• Account Subscription starts at $1
• No investment Fee for stocks.
• Expense ratios for ETFs are 0.30.%
• Zero fees for inactivity and on outgoing transfers
• Custodial Accounts for Parents introducing children to investing
• Stock Back Rewards Program

Learn by MyWallSt

If you ever thought about learning how to invest and its fundamentals, you can trust on Learn by MyWallSt, one of the best investment apps existing in the market today. The app is treasure-filled with gems of knowledge that you need to become an expert investor. Having everything from the initial introduction to crucial fundamentals that you should understand as you progress through the investment industry, this best stock market app is a perfect mentor.

Features of this best stock investment app

• Free to install
• Audio lessons
• More than 40 fundamentals to learn
• Lessons curated by investment professionals

Invstr — Best Investment App for Students

Yes, there is one for this audience as well. Invstr is a market simulator mimicking financial markets in real-time and allowing gamers to stake $100,000 virtual money. With no risk of loss, you can put your theories to test and see how it goes. Invstr added a LIVE feature that lets you stake real money, something that users need to be wary of. The game lets you learn from observing others’ trade, and try your skills in life-like stimulation.

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Best Investing Apps for Beginner Investors

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2. Best Investing Apps for Beginner Investors

Nowadays, investing in the stock market can be done at your fingertips with a few swipes. Investing apps are becoming the new norm for investors of all levels.

With dozens of stock trading apps currently on the market, it can be hard to separate the good from the bad.

To help you find the right one for you, we put together this list of the best investment apps for beginners in 2021.

Our Editorial Team has researched all of the best investing apps available and evaluated each one in several different areas in order to narrow this list down to the few that we think will help you the most.

Everyone’s financial situation is different. We all have different goals, amounts to invest, tolerance for risk and knowledge about investing.

Whether you have lots of extra money to invest or just want to get started with a small amount of money, you should be able to find something for you on this list.

Best Investment App for Free Trades: Robinhood

Robinhood is a commission-free mobile trading app that lets investors trade stocks, cryptocurrency, options, and ETFs with a $0 opening balance. Its streamlined design makes it easy to use, and no annual fees make it a good choice for new investors.

• Trade with no fees
• No minimum balance requirements
• Easy, mobile-friendly interface
• Trade a variety of securities
• Margin trading available

• No retirement or other account types
• Can’t trade certain popular securities, including bonds and mutual funds
• Difficult to receive customer support

Robinhood is truly a commission fee-free investing app. That means you won’t be charged for trading (stocks, ETFs, options, cryptocurrency, etc.) through the platform.

Robinhood also allows you to buy fractional shares, which means you can invest in thousands of stocks with as little as $1. Users love the simple and intuitive interface. One recent Trustpilot review says “easy to use, and love that they release new features regularly.”

Best Investment App for Automation: Acorns

The Acorns app is easy to use and perfect for new investors who are learning the ropes. Investors make purchases using a linked card. Acorns rounds up to the nearest dollar and invests the extra change. Users can also set automatic recurring investments on a daily, weekly, or monthly basis.

• Free investing for college students
• Completely automated
• No account minimum
• Higher-tiered plans offer cash back at specific retailers

• They charge an account fee and other fees for IRAs
• Limited portfolio options
• Monthly fee can be a high percentage for those with smaller account balances

• Taxable investment accounts
• Retirement accounts
• Checking account with debit card

Regardless of your investing experience, Acorns makes it easy with features like automatic roundups. When you spend from a linked account, Acorns will round the transaction to the nearest dollar and invest the difference in your portfolio. Portfolios range from conservative to aggressive.

Users can also make lump-sum deposits or invest for the long term using Acorns Later, where the platform recommends an individual retirement account and updates it based on your goals.

Best Investing App for Access to Human Advice: Betterment

Betterment is one of the most popular robo advisors and investment apps in the industry. The sign-up process is very easy, they offer tax-loss harvesting, simple asset management, good retirement calculators, low management fees, and the option to speak with a human advisor.

• No account minimum
• Low, fixed management fees
• No transaction fees
• Access to Certified Financial Planners™
• Quality, hands-off investing

• Not designed for DIY stock traders
• Tax-loss harvesting isn’t as robust as some competitors
• Can’t balance asset allocation with external accounts

Betterment has real financial advisors who can answer questions or provide specific advice. All their advisors are Certified Financial Planners™, which means they’re required to act as a fiduciary and only provide advice that’s in your best interest.

The cost depends on your Betterment package. If you have the basic Betterment account, the cost will range from $199 to $299 per call. With a Betterment premium account with at least $100,000 invested, you’ll have unlimited access to a CFP®. If you want more customized, hands-on support, you can ask to be matched with a Betterment partner advisor firm.

Best Investment App for Short-Term Trading: TD Ameritrade

TD Ameritrade is a large brokerage firm that offers many different types of accounts, stocks, ETFs, mutual funds, and more. They have brick-and-mortar offices and many different online tools and educational resources. They’re a well-known brokerage firm with a wide array of offerings and a positive reputation.

• Wide range of options
• Diverse trading platforms
• Lots of trading tools, education, and access to research
• No maintenance fees
• Good customer support

• Trades are more expensive than some other competitors
• Some short-term trading fees (pay attention to the fine print when selling)

TD Ameritrade comes with a variety of investing tools and resources, including their desktop trading platform, thinkorswim. Active traders will enjoy the market heat maps, real-time news, backtesting capabilities, technical analysis tools and studies, and all the other capabilities the platform has to offer.

The companion app, TD Ameritrade Mobile Trader, also offers tools for advanced traders such as complex option ordering capabilities as well as forex and futures trading.

Best App for Managing Your 401(k): Blooom

Blooom offers portfolio management for employer-sponsored retirement plans like 401(k)s, 403(b)s, and some IRAs. There’s no minimum balance to open an account, and their pricing is straightforward. New users can also take Blooom for a test spin using their free 401(k) analysis tool.

• 10% discount with annual payment (otherwise, $30 each quarter)
• No account minimum
• Free 401(k) analysis
• Access to human advisors
• Simple and transparent fee structure
• Easy-to-understand interface
• No need to move your 401(k) or open a new account
• Fraud monitoring

• Flat-fee pricing may be high for smaller account balances
• Asset allocation doesn’t factor in other accounts

What sets Blooom apart from other robo advisors is that it focuses on optimizing your existing employer-sponsored retirement accounts, like your 401(k) or IRA. If you have a 401(k) with your current employer but aren’t sure how you should be investing the money inside it, Blooom will analyze your plan and provide you with a free personal investment strategy based on your goals and risk tolerance. It’s best for hands-off investors with employee-sponsored retirement plans.

Best Investing App for Long-Term Investing: Wealthfront

Wealthfront’s robo advisory services are well-suited for hands-off investors looking for a low-cost option. The company doesn’t charges fees for opening or closing an account or making trades, withdrawals, or transfers. In addition to minimizing fees, Wealthfront focuses on lowering your taxes and managing your investment risk with their custom-built portfolios.

• Goal-setting and financial planning assistance
• Tax-loss harvesting
• Low expense ratios for ETFs
• Automatic rebalancing

• Limited customer support
• No option to purchase fractional shares

Wealthfront’s strategy isn’t about chasing the market; it’s about investing for the long term. The platform offers IRAs, 401(k) rollovers, and 529 college savings accounts. The automated investment approach, diversified portfolios, and tax-optimization strategies make Wealthfront an ideal fit for both new and advanced investors who prefer a more hands-off approach.

Best App for Real Estate Investing: Fundrise

Fundrise is a platform designed exclusively for crowdsourced real estate investing. It offers diversification, access to experts to ask questions, and options for balanced investing, long term growth investing, or supplemental income investing. It’s also open to both accredited and non-accredited investors.

• Open to non-accredited investors
• Low investment minimum
• Historically strong returns

• Limited liquidity
• Fee structure isn’t entirely straightforward
• Methodology hasn’t been tested in a strong market downturn yet

Fundrise decreases the barrier to entry for real estate investors by allowing users to invest in real estate investment trusts, or REITs. The company offers eREITs, which invest in income-producing real estate, and eFunds, which develop and sell housing.

These eREITs and eFunds are limited liability companies that perform the deals. Investors purchase shares in the eREITs and eFunds by buying into a Fundrise Core plan: Starter, Supplemental Income, Balanced Investing, or Long-Term Growth. Starter offers a $500 minimum buy-in while the other three require an investment of $1,000 or more.

Best Investment App for Cryptocurrency: Coinbase

Coinbase is an app where you can buy and trade over 25 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, among others. You can schedule recurring contributions and even earn free shares of crypto. Coinbase Pro offers additional features, lower fees, and is free to use for anyone with a Coinbase account.

• Intuitive user interface
• Highly liquid (quick access to your cash)
• Relatively low fees
• Variety of cryptocurrency options

• Poor customer support
• Higher fees than Coinbase Pro with fewer tools
• Users don’t control their private keys
• *Fee structure isn’t entirely transparent; fees vary based on location, market price, and payment type

Coinbase touts itself as “the easiest place to buy, sell, and manage your cryptocurrency portfolio.” Users can buy and sell popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Coinbase Wallet also allows users to see all their tokens in one place and pay other users straight from the app, which is available for both Android and iOS devices.

You can earn free cryptocurrency to add to you wallet by taking some of Coinbase’s free courses on specific cryptocurrencies. Advanced traders can take advantage of Coinbase Pro’s lower fees and additional trading options.

Best App Designed Specifically for Women: Ellevest

Ellevest is a robo advisor built by women, for women. Their claim is that the financial world was built for men, so Ellevest’s mission is to provide for women’s financial planning needs. That’s why their algorithm takes into account financial factors that specifically impact women, such as the gender pay gap. The platform offers a standard monthly fee instead of charging based on assets under management.

• Low fees and account minimums
• Portfolios specifically caters to women’s financial needs
• Can pick and choose services as needed at an additional cost (budget coaching, career coaching, financial planning, etc.)

• Have to pay extra for access to a financial planner or career coach
• Fee is the same per month, even if you have less money in your account
• Have to subscribe to a higher tier for help rolling over an account
• Members on the Essential plan can’t open an IRA
• No tax-loss harvesting

Though Ellevest welcomes men as clients, the robo advisor specifically focuses on women’s investing need. Their algorithm takes into account the pay gap, career breaks, and longer lifespans for women, making it the only one of its kind. The platform offers three tiers of service: Essential, Plus, and Executive. Each comes with a flat monthly fee of $1, $5, and $9, respectively.

In addition to their Core investing options, users can invest in Impact portfolios. These are designed to creative positive social impact and advance women on senior leadership teams and boards. Anyone can sign up for coaching with career experts and financial planners for a flat fee through Ellevest, but members receive up to a 50% discount on these services depending on their membership plan.

Best for Chase Clients and Cardholders: You Invest by J.P. Morgan

You Invest by J.P. Morgan comes with two options: Trade and Portfolio. Trade is a solid option for DIY investors. It offers $0 commissions, free trading, and no account minimum. Portfolio is for hands-off investors who prefer the simplicity of having someone else manage their account. Both options link directly with Chase customers’ existing accounts for a simple investing experience.

• Both apps connect to all Chase accounts
• Easy-to-use platforms
• $0 commissions and no account minimum with Trade
• Low expense ratios with Portfolios

• $500 account minimum and higher-than-average management fee for Portfolios
• Limited access to research and tools
• Limited customer support (phone only)

If you’re already a Chase customer, the You Invest app is built to integrate with your existing accounts and mobile banking app. This DIY trading platform offers $0 commissions and comes with a robo advisor option, You Invest Portfolios, for those interested in a more hands-off approach.

While the 0.35% management fee of the You Invest Porfolios is higher than competitors, it could be a good option for existing Chase customers who want to start investing quickly and have no interest in managing their own investments.

How DollarSprout Rates Investing Apps

The Editorial Team at DollarSprout looks at multiple factors when determining a 1 to 5 star rating for investing apps. Here are the most important factors that weigh into our ratings:

• Ease of use
• Mobile app reviews
• Reviews from third-party websites
• Cost per trade
• Availability of commission-free ETFs
• Access to research
• Compatibility with other financial apps
• Fees, and the likelihood that a user will incur them
• Account balance requirements
• Customer service

In addition to assigning a 1 to 5 star rating for each broker we research, we also aim to find the best broker for certain types of investors, such as:

• Total beginners
• Active traders
• Cryptocurrency investors
• Etc.

Author

Our mission at DollarSprout is simple: we want everyone to worry less about money and spend more time on the things that truly matter in life. By bringing you our latest ideas on how to make money, save money, and make smarter financial choices, we are doing our small part to help.

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