Investing has been a very important step to keep your financial life on track. If you start saving money from an early age, the money will save you later in your life. Investment is considered one of the best decisions one can make in their lives.
With this, investing apps have become very popular in the digital era. And if you are someone who is very new to investing, and looking for an app, it might be a bit overwhelming while searching for the app that best fit for your needs. There are tons of apps in the market, but which one to choose from could be confusing.
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Best Investing Apps For This Year
In this article, you will learn about best investing apps for this year. If you are a beginner, this article will help you decide which apps to choose based on the pros and cons.
- Acorns: The reason Acorns is first on our best investing apps list is purely because it is arguably the simplest investing app to start with. Along with being incredibly popular, it provides users with a very user-friendly interface and has a fair amount of built-in educational resources.
In Acorns, you can link any credit or debit card, and Acorns will round up your spare change and invest it in your Acorns portfolio.
Acorns will be very beneficial for passive investments, the beginners as you can invest in as low as $5, and the app itself is very simple and easy to use.
Acorns, however, is not recommended for those who are active stock traders and those who want to invest in individual stocks, as it doesn’t provide customization of the investment portfolio.
Here’s a download link for Acorns App:
Just like Acorns, Stash, too is recommended for the starters since you can invest as low as $5 and has terminologies to help you understand the basics of investment. It can also be helpful for passive investors and fortunately, it also provides customization in the investment portfolio.
Stash app is not recommended for active stock traders. Although Stash provides hundreds of individuals investment portfolios, most of those are ideal for passive investing. But here’s the tricky part, Stash cannot entirely be recommended for all passive investors as well, because some passive investors want to invest in thousands of specific small companies but what stash provides is only hundreds of them.
- M1 Finance App: M1 Finance App comes to the rescue of our previously mentioned Stash app’s limitations. This app can be a great platform for the new investors who want to invest passively, and the merit of this app is that it provides you with thousands of individual stocks. And apart of these, it provides you with features like fractional shares of these stocks. One of the most valuable features of this app is that you can have multiple portfolios, be it long term or short term, in a single M1 Finance App.
The coolest feature of M1 Finance App probably has to be the fact that it is 100% free of commission or fess, and that automatically makes it ideal for new investors. Apart from new investors, M1 Finance app can be highly recommended for those who want to do passive investment with a little customization of the investment portfolio and who want access to a thousand individual stocks. And this is why M1 Finance App makes 3rd on our best investing apps list.
- Robinhood:The list of best investing apps would not be complete without naming the Robinhood app. Probably one of the best investing apps out there, if not the best, Robinhood app provides a free stock as soon as you sign up. Again, Robinhood app is very easy to use and charges no fees or commission.
Robinhood app has also recently added features like fractional shares and is about to add another feature called cash management feature. Apart from allowing free trading of stocks, ETFs, Robinhood app also offers its users to trade crypto within the same platform.
Apart from the four best investing apps in the list, one can also consider a few other apps in the investing market, namely Stockpile, Betterment, Invstr, Wealthbase, etc.