Top 5 Best Investing Apps
As the role of technology has completely integrated into our daily lives, investors place their trust in using their phones or laptops to manage their investments. There are so many great apps that investors now have access to invest and manage their portfolios from their pockets.
Some investors like the reliability of using an app to control their money, while others enjoy working hands-on and watching the process. The best app is the one that matches your needs and investment goals.
TD Ameritrade
I personally use this app as it’s perfect for investors who are on the go. With TD Ameritrade, you can research, trade, and watch your portfolio grow. There’s no minimum deposit required to open an account and you get access to two app options set for beginner and advanced investors at an affordable rate.
There are no minimum balance requirements and no fees to trade stocks and ETFs. TD Ameritrade also has some pretty useful educational features for any questions that you may have or to just continue to grow your portfolio.
Webull
With Webull, traders can experience advanced charting and quote data. It’s an easy to use platform with in-depth data that allows you to analyze companies, trends, and seize trading opportunities.
Webull is completely free no monthly fees, and no trade fees, as well as no commissions for any trades on the app. The app includes a community area where you get to communicate with other active traders. No fees for online stock, ETF, or option trades as well.
Webull allows you to build your own portfolio and it can walk you through the process that best fits your goals. All you need is a state-issued ID to get approval to invest in Webull. You can also get ahead of the game and trade during extended hours courtesy of Webull.
Robinhood
Robinhood is another investment platform that offers commission-free trades also with a $0 account minimum. There are zero fees to start, zero monthly fees, and zero trade fees.
It’s user-friendly and the app allows you to track your stocks and view stock profiles for companies, analysts’ predictions, and news.
Unlike Webull, Robinhood allows you to invest in Fractional Shares. Meaning that you don’t have to do the calculations yourself or invest in a whole share, Robinhood will help divide into shares that you chose. Depending on your location, you can even trade Cryptocurrency through the app.
Fidelity Investments
Fidelity is perfect for beginner investors with a focus on retirement investments or long-term investments. There are no commission fees on stocks, ETF, and options trades.
The platform is set to help with financial planning dedicating an advisor who can work with you on your goals and investment management.
Unlike most apps where they have advanced charting features, they do provide features to enter trades and track performance. They support a wide range of account types such as brokerage, retirement, education accounts, and more.
M1 Finance
M1 Finance allows for a higher level of customization that tailors your portfolio with your exact specifications. It’s intended for more sophisticated investors as they do no provide advisory advice. M1 uses Pie charts to build your portfolio so that it is easier to view that is also customized to your goals.
They do not charge for portfolio management, trading fees, fees for deposits, and withdrawals. The platform focuses on long term using a traditional online brokerage to invest in stocks. M1 offers fractional shares and most control over your own portfolio contents.
Everyone has different goals and experience levels with investing. It’s important to analyze your stock background and choose an app based on how you plan to invest.