As a beginner investor, you may be unsure where to go to start investing and how to get the best return on your money. That's where investment apps come in. These apps allow you to manage your portfolio and buy or sell investments via mobile app. But with so many options out there, how do you know which one is right for you? After analyzing hundreds of data points and conducting rigorous app trials, Forbes Advisor has determined the best investment apps for beginners in 2022.
The best investment apps for beginners offer low fees, a range of investment types, account flexibility, and educational resources. These apps make it easy to get started and have no fees to open an account. Here's how to find the right one for you.
First on our list is Webull, which is best for beginners. This app offers commission-free trading for stocks, ETFs, and options. It also provides a wealth of educational resources, including articles and videos to help you learn the basics of investing. Plus, Webull offers a paper trading feature that allows you to practice trading without risking real money.
Next up is Betterment, which is the best robo-advisor app for beginners. This app offers automated investing based on your goals and risk tolerance. It also has a low minimum investment requirement and charges a reasonable management fee. Betterment's user-friendly interface and educational resources make it a great option for those new to investing.
TD Ameritrade is another great option for beginners. This app offers commission-free trading for stocks, ETFs, and options. It also provides a wealth of educational resources, including articles, videos, and webinars. Plus, TD Ameritrade has a robust trading platform that allows you to customize your trades and track your investments.
Robinhood is a popular investment app that offers commission-free trading for stocks, ETFs, and options. It also has a user-friendly interface and educational resources to help you learn the basics of investing. However, Robinhood has come under fire for its lack of transparency and for encouraging risk trading behavior.
Acorns is a unique investment app that allows you to invest your spare change. It automatically rounds up your purchases to the nearest dollar and invests the difference. Acorns also offers automated investing based on your goals and risk tolerance. However, its fees can be higher than other investment apps, and it may not be the best option for those looking to make larger investments.
Stash is another investment app that offers automated investing based on your goals and risk tolerance. It also provides educational resources to help you learn the basics of investing. However, Stash's fees can be higher than other investment apps, and it may not be the best option for those looking to make larger investments.
When choosing an investment app, consider factors like account minimums, investment offerings, fees, mobile app ratings, and educational resources. Look for an app that offers commission-free trading, low fees, and a range of investment options. Also, consider the app's user interface and educational resources to ensure that you feel comfortable and confident using it.
In conclusion, the best investment apps for beginners in 2022 are Webull, Betterment, TD Ameritrade, Robinhood, Acorns, and Stash. These apps offer low fees, a range of investment types, account flexibility, and educational resources to help you get started with investing. Choose the app that best fits your needs and start building your portfolio today.
