Best investment app for the beginner 2020
Best investment app for the beginner

Best investment app for the beginner 2020

The best investment app for the beginner is a list of out top picks for any one wanting to start their investing journey. The times of physically being at the stock exchange or making that trade call over the phone is now replaced with a ton of online investing platforms and cell phone apps. This new era of investing and trading has now brought these markets to the tip of your fingers allowing you to click or swipe your way through the best investment apps.

Disclaimer: Please read our investing disclosure

With tons of stock and crypto trading apps currently on the market, it can be a little tricky to separate the good ones from the bad. To help you sort through the top investing apps, we comprised this small list of the best investment apps for beginners in 2020. Some of these memorable mentions are also quite intuitive and give even advanced seasonal traders an edge.

We have not only researched all of the best investing apps for beginners but have had hands on experience in evaluating each one. We categorized this list down to the few that we think will help you start your journey in to investing.

Comparing the Best Investment Apps

Quick navigation

  • Robinhood– Best overall (beginner friendly)
  • Stash– Best for auto investing
  • Webull– Best commission-free investing app
  • Ally – Best app for DIY investing
  • Stockpile – Best fractional share options
  • Acorns Best set and forget
  • Coinbase– Best for crypto trading

Everyone’s financial situation is different and unique. Weather you have certain tolerance for risk, amount you can invest,  knowledge about investing, and personal goals we have something that can benefit you. Start with a small budget or larger one with any of our top selections.

Note: Before you start using any investing app, please only invest what you can budget for. Do not take out loans or credit to invest. Only put in what you can afford to loose.

Robinhood Best investment app for the beginner

$0

Account Minimum

$0

Cost Per Trade
5/5
Money Tree Profits Review
Pros
  • No account minimum.
  • Streamlined interface.
  • Cryptocurrency trading.
  • Margin accounts.
Cons
  • No retirement accounts.
  • No mutual funds or bonds.
  • Limited customer support.

How Robinhood stands out:

Commission free trades and simple design makes Robinhood an easy to use investing app. You can trade ETFs, stocks, options, and cryptocurrency without incurring extra charges, which makes it a great fit for investors with small account balances. Although the easiest app to use the lack of some features make it less appealing to an advanced trader.

Robinhood is a free trading app that lets you invest, trade stocks, options, and cryptocurrency without paying a commissions or fee. Robinhood was once the only brokers offering free trades, but with many other online brokers also following the same structure, Robinhood is not the only service offering this investment. That said, it’s still a solid choice, and currently it’s one of the few brokers that gives investors the opportunity to trade crypto.

For the ease of use and the many benefits we rank Robinhood the easiest of out app selection for any one new to investing. We made a full review of the Robinhood APP, check it out here Robinhood Investment.

Stash Best for auto investing

$0

Account Minimum

$0

Monthly Fee
4/5
Money Tree Profits Review
Pros
  • Educational information
  • Great support
  • Fractional shares
  • Bank & Debit account
Cons
  • No investment management
  • High ETF expense
  • Limited account options
  • No cryptocurrency

Stash it and let it grow

Investment company Stash makes investing quick and easy for beginners. Costing only a $1 per month for an account which includes Stash’s online banking and debit card makes this choice an easy selection for a smaller account. There is no minimum balance, and because Stash offers fractional investing, you can buy smaller portions of a stock or fund for less amounts. This means that if you are interested in a larger stock such as Amazon you don’t need to purchase a whole share but instead what you can afford. This allows you so own shares at your own pace while still making a great financial choice for one of the best investment app for the beginner.

Stash offers upgraded accounts starting at $3 a month, you get the same benefits as the $1 plan, plus a retirement account (choose either a Roth or traditional IRA). Upgrade that to a $9 a month and Stash investment includes all of the above, plus 2 custodial accounts for minors, and an awesome metal debit card, a rewards program, and a monthly research report on investing.

Webull Best commission free investing app

$0

Account Minimum

$0

Monthly Fee
5/5
Money Tree Profits Review
Pros
  • NO FEE trading
  • Fast and easy account opening
  • technical and fundamental analysis tools
  • Offers margin without a subscription
Cons
  • US customers only
  • Limited educational material
  • Not beginner friendly
  • Customer support could be improved

Webull and the many features

Webull is a good investment choice for an experienced investor but is easy enough to be a best investment app for the beginner to easily navigate through the app. Those that love technical analysis will love the great features that Webull has to offer. Available in your app store orr use a desktop version Webull is designed for trading stocks, ETF’s, Crypto and now options. Interested in an IRA? Webull also has you covered with their new IRA program. You can save for retirement by choosing a traditional, roth or rollover IRA making for an awesome investment app.

For those just beginning Webull offers a paper account. This means you can sign up and use play money to test different strategies without using your own money. This is also great for advanced users that already have a strategy but want to test out something new without having to use real money.

Here are some benefits of using the Webull platform.

Technical indicators:

  • Exponential moving averages
  • Bollinger Bands
  • Money Flow Index
  • MACD
  • RSI

Investment tools:

  • News
  • Press releases
  • Analyst recommendations
  • Historical EPS
  • Revenue data
  • Insider holdings and transactions
  • Financial calendars
  • Stock screeners
  • Watchlist and alerts
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Ally Best app for DIY investing

$0

Account Minimum

$0

Monthly Fee
4.5/5
Money Tree Profits Review
Pros
  • Automated investing
  • Commission-free trading stocks and ETFs
  • Robust research and tools
  • Strong web-based platform
Cons
  • US customers only
  • No physical branch
  • Mutual fund fees
  • No human advisor

Ally investing in numerous ways

An online bank that allows investing, that’s just what Ally is known for. Ally works just like a regular online bank offering Checking and savings accounts. Along with the basics they also allow for multiple CDS, IRAS and money market. You can even take out an auto or home loan. The investing side is where it gets good. 

Different investment opportunities

  • Self-Directed Trading
  • Managed Portfolios
  • Stocks and ETFs
  • Commission-free ETFs
  • Options Trading
  • Bonds
  • Mutual Funds
  • Margin Account
  • Forex
  • Securities Income Program

Ally Invest account is easy to set up. All you need to do is navigate to the Ally Invest page and click on “Open Account.” You will then be walked through all the needed steps to open an account of your choice.

When you start the signup process you will be faced with what type of account you want to open. Unlike some of the more bare-bones free online brokers such as Robinhood, Ally Invest offers over 10 different types of accounts These include checking and money market, Savings, IRAs and CDs

Stockpile Best fractional share options

$5

Account Minimum

$0

Monthly Fee
3.3/5
Money Tree Profits Review
Pros
  • Low Trading Fees
  • Fractional Shares
  • No Minimum
  • No Annual Fees
Cons
  • Limited Account Selection
  • Limited Investment Selection
  • No Real-Time Trading
  • U.S. Residents Only

Stockpile Giving the Gift of Stocks

Google, Amazon, Apple, Berkshire Hathaway, the Bitcoin Investment Trust, Disney, Cisco, McDonald’s, Microsoft and Netflix. Big names and pricey stocks to invest in. Stockpile allows fractional shares to be purchased enabling you to own a piece of a stock. But Stockpile goes a step further and allows you to GIFT stocks.

We decided to give Stockpile a whirl and see what this gifting was all about. The first thing to not is that you are sending a giftcard that can only be reedeemed on the platform. It is kind of like sending someone an amazon gift card, where they can use only on their site to purchase anything they want. The Stockpile program works the same. 

The idea is great but in our opinion you can wire money to a friend or family members bank account and advise them that it is for a stock and guide them on to a platform such as Robinhood (allows fractional shares) or a more robust trading platform like Webull.

The process of gifting is pretty simple, buy a gift card and send it to another user of the platform. Also a notable mention is that you can set up a custodial account for underaged minors and allow them to start investing. You can fund their account with gift cards and they can invest in whatever they want or you can lock in a certain stock or a fractional share of a stock. Check out our great review on an app that lets your kids invest in the stock market while doing their chores.

Overall if you can look past the fees, Stockpile has done a great job of putting together a simple and easy to use app for the gifting process. Although we would recommend other apps over this one if the gifting option interest you then this is another great app to add to your portfolio. 

Acorns Best set and forget

$0

Account Minimum

$1-3

Monthly Fee
4/5
Money Tree Profits Review
Pros
  • Aotomated
  • No minimum investment
  • Invest with spare change
  • No fee for withdrawing funds
Cons
  • Monthly Fee
  • Limited investment options
  • High fees for small balance
  • No advisorr

Putting your spare change to work

Acorns investment is spare change round up app that invest extra change in to a set investment portfolio. When you make a purchase on a linked credit or debit cards the spare change is added to this auto investing platform. Let’s say you use your card to buy coffee that cost $3.75 Acorns detects this on your linked account and automatically rounds up to $4.00, so a total of 0.25 will be added to your investment portfolio in the app. You can easily see how that can add up and I would bet you wouldn’t miss that little extra change. 

Acorns also has what’s called found money. This is basically free money from someone else. This is accomplished with Acorns 350+ partners. To list a few Airbnb, Warby Parker, Walmart, Nike and Sephora all give you cash back. You simply use a card linked to your Acorns account, simple. Nothing like getting free money. Remember this is also working alongside your round up, so even more towards your investments. 

Acorns Later is a specially designed individual retirement account also known as an IRA. Acorns Later will cost you an additional $1 per month making you a plus user. This fee is added until you have invested $1 million with Acorns. After reaching that milestone, you’ll be charged a fee of $100 per million dollars.

Lastly College students get a fantastic deal, no fees on any of their core accounts of any size. You only need to register with a valid .edu address and change the employment status to “Student”. This remains valid for up to four years from the date you register. What an awesome investment app thats suite all your needs.

 

Coinbase best for crypto

$0

Account Minimum

$0

Monthly Fee
5/5
Money Tree Profits Review
Pros
  • Low Trading Fees
  • Free Crypto
  • Easy to buy and sell
  • Desktop and App
Cons
  • Trading fees if not on Pro
  • No paper account
  • Learning curve
  • Verification needed

Coinbase beginner friendly

Coinbase is one of the easiest exchanges to use for purchasing Bitcoin (BTC) and other cryptocurrencies using fiat via Bank Transfer, Credit Card, Debit Card and Even PayPal. Fiat in case you don’t know is the currently used currency that your country uses like US dollar, Euro, Yin and others.

Most beginners use coinbase to get started and many like myself still use them despite of other trading platforms that offer more selection of crypto. I will go over other more advanced exchanges for crypto on later articles as they can get very technical and offer more advanced functions.

Security among crypto traders has always been an issue when it comes to exchanges. Coinbase has been a solid company when it comes to their security guidelines and protocols. Located in thee United States they are bound by strict laws and regulations making it not only secure but insured. This means if hacked or some crazy error happens you are insured and you you are entitled to any funds lost through their insurance policy.

Coinbase allows users to trade currency pairs like USD/BTC, United States dollar to Bitcoin. This is easily done by linking any of the approved accounts types weather is’s bank or debit card. Once linked you now have the option to purchase any crypto.

The app will seamlessly convert your fiat to whatever you are purchasing. A full crypto asset does not need to be purchased when starting up. At this time (one) BTC is at $9,183.84 meaning if you own 1 bitcoin you have a little over 9K. But you can purchase fractional shares easily. Just put in how much you want to buy and it will automatically make the conversion and you will own a partial amount of Bitcoin. For example you want to get in to the crypto game and invest $100 in to BTC, you can do this leaving you with 0.011 share of BTC.

At the time of writing this Coinbase is literally giving you $150+ worth of Crypto just for signing up. You don’t even have to make a purchase. It can’t get easier than that to start your crypto journey. You watch short, very short videos and answer a question which you can repeat if you get it wrong. Once all videos and questions are complete they will award you with the free crypto. EASY!!!!  Even if you’re not a fan or believe in crypto why not take the free crypto, convert it to fiat and transfer it to your bank. Either way this is a win/win.

We have put a lot of work in to selecting these top investment apps and over time we will continue to update you with fresh content and updates to any of these apps. New apps are also frequently being introduced in to the market and we plan on jumping on them and seeing if they are any good for both beginners and advanced users. 

Timothy Acevedo

With over 10 years of online web design, SEO, Graphics design and even running a successful e-commerce business. I Started this site not only to help others but to challenge myself with the skills and knowledge i have learned over the years and pass them on to others. Currently I work full time at an awesome job with great benefits. This site is my hobby and what i love to work on with my free time.

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