To trade, you don’t need a stockbroker. There are powerful investment applications that make investing smooth and pleasant, from the convenience of your phone for everyone from the recent college graduate to the seasoned investor. Companies that offer brokerage accounts, like Vanguard or TD Ameritrade, have apps for iPhone and Android, but they aren’t as user-friendly as the apps on this list.
M1 Finance
One of the best investment apps for commission-free trading
M1 Finance is one of the few financial apps that combines the functions of a Robo-Advisor and an online broker. M1 Finance is well-known for its easy-to-use interface and minimal operational costs. You may choose from various portfolio templates and settings, and it’s all free.
This investment software is best for investors who want to delegate a large portion of their portfolio management without paying for professional advice.
All of this will be handled virtually by M1 Finance. This application will ask you to make your “pie” when you want to invest.
This pie incorporates your preferred investment options and your specific investment objectives. ETFs and bonds are among the available personal finance solutions (or stocks). This pie will automatically show how they distribute your allotted funds among your preferred investment options.
As a result, each portion of your pie will automatically expand or contract depending on your profit. This program distributes monies to restore individual sections of the pie of your choice when you deposit new money into your account.
Robinhood
The best investment app for free stock deals
Robinhood is a popular stock and cryptocurrency trading program available for free. For ETFs and options, this app is also free. They were launched in 2013 and now have over 4 million traders.
This program features a zero-balance requirement, making it an extremely user-friendly and straightforward application. Although you won’t receive all the bells and whistles of a full-service broker, this is a good trading platform at a much lower cost.
Robinhood has a user-friendly interface and does not charge commissions on completed trades. The software provides an excellent mobile experience with easy trade access.
Other brokers usually give you a few accounts; Robinhood gives you commission-free access to over 2,000 ETFs. You may also borrow money to buy equities using their Robinhood Gold service.
Here are a few things to keep in mind:
- The app often doesn’t sync with other expense-tracking software like Personal Capital.
- If you want to use their guides and research tools, you must pay $5 per month.
- They don’t have a desktop version.
- If you transfer your account to another broker, there is a fee of $75.00.
Acorns
The best investment app for automatic savings
Acorns are one of the most significant investment applications for taking your spare change and rounding it up to the nearest dollar. They work as part of a Robo Advisor, which can invest your money for you while also serving as a savings mechanism for any additional cash you may have.
Acorn is a simple money-making app. You can create an account in less than five minutes and will be asked for information such as your age and risk tolerance.
It is how it goes. Acorns round up purchases made using your associated credit or debit card to the nearest dollar and deposit the difference in your Acorns account.
You can subsequently put this money into your preferred Acorns investment portfolio.
Betterment
Best for the long-term investor
Betterment is a full-service Robo-advisor that automates your investing, not your usual investment software. They begin by learning a little about your objectives and personal routines. They then compile a comprehensive portfolio tailored to your risk appetite and time horizon. Finally, they use their Tax-Smart Technology to optimize their portfolio.
Betterment will also handle portfolio rebalancing, ensuring that your investments are aligned with your objectives and that the best assets are reallocated.
They assist you in keeping the path of your external investments (other than Betterment). This asset monitoring software allows you to track all purchases from a single location.
They have no minimum account requirements and charge only 0.25% APR to maintain a digital portfolio. On the other hand, Betterment Premium is for those who require human involvement in the form of a team of expert financial advisors (who will communicate with you via email and phone). This plan includes a $100,000 minimum account balance and a 0.40% yearly charge.
Stash App
Best value-driven investment app
Stash was founded in 2015 to allow more ordinary people to participate in the stock market. Stash is one of the best applications for buying fractional stocks and is perfect for value-based investments.
You may create an account for only $5. You can make automatic weekly payments (up to $5) into your account, and if you have a balance of $5,000 or more, you will be charged an annual fee of 0.25%.
IRAs, depository accounts, and taxable accounts are the three types of accounts they offer.
You can choose from over 150 stocks in Stash. This valuable combination of attributes lets you locate investments corresponding to your preferences.
They also have investing themes, which are groups of companies you can invest in rather than a single company.
You will impose a monthly fee of $1.00 if your account balance is less than $5,000. Finally, if you don’t have much money to start with and want to create a suitable ETF and stock portfolio, I recommend Stash.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
