Hey there, aspiring investor! Ready to dip your toes into the stock market but feeling a bit overwhelmed? No worries, we’ve got you covered. In 2024, a wide range of user-friendly investment apps are designed to simplify your journey into the world of stocks. Whether you’re starting small with micro-investments or jumping into full-scale trading, there’s an app tailored just for you. We’ve curated a list of the best stock apps for beginners, so you can confidently build your portfolio. Let’s dive into the top picks that’ll have you investing like a pro in no time!
What is an Investment App?
An investment app is your all-in-one tool for accessing the world of finance right from your smartphone. Whether you’re trading stocks, ETFs, or even cryptocurrencies, the best stock trading app allows you to buy, sell, and manage your investments with a few taps. Some apps even offer educational resources and low fees, perfect for beginner investors who want to get started without much capital.
Investments That You Can Trade Through an App
Wondering what you can trade through a stock market app? Here’s a list of the most common investment options available through these apps:
1. Stocks: Shares of individual companies.
2. ETFs (Exchange-Traded Funds): Baskets of securities that trade like stocks.
3. Cryptocurrencies: Digital assets like Bitcoin, Ethereum, etc.
4. Options: Contracts giving the right (not obligation) to buy/sell stocks at a set price.
5. Mutual Funds: Pooled investments in stocks, bonds, or other securities.
6. Bonds: Debt securities issued by governments or corporations.
7. Forex (Foreign Exchange): Trading between different currencies.
Key Features to Look for in Investment Apps
When choosing the best stock app, or even the best forex trading app, there are a few key features to keep in mind:
1. User-Friendly Interface: The best investing apps are easy to navigate, with clean designs and clear, understandable charts.
2. Educational Resources: Look for apps that provide tutorials, glossaries, and virtual trading so you can practice risk-free.
3. Low Fees and Minimums: Many top apps offer commission-free trades and low minimum balances, making it easy for beginners to get started.
4. Investment Options: The best stock app for beginners should offer a wide variety of investment options, such as stocks, ETFs, and even cryptocurrencies.
5. Research Tools and Security: A good stock market app or forex trading app should provide real-time data, analysis features, and top-notch security measures to protect your investments.
Top 8 Investment Apps for 2024
Let’s break down the best apps to buy stocks and more. Here are the top picks for 2024, each with their own set of features:
1. Robinhood
Robinhood has transformed the investment landscape by offering commission-free trading, making it one of the best stock trading apps for beginners.
Pros:
- Commission-free trades on stocks, ETFs, and options.
- Simple, user-friendly interface.
- Fractional shares allow small investments.
- Cryptocurrency trading is available.
- No account minimum.
Cons:
- Limited research tools.
- No retirement accounts.
- Customer service can be slow during outages.
Why We Picked It:
- Robinhood’s no-commission structure, paired with a user-friendly design, makes it the best app to buy stocks for those just starting.
2. Fidelity Investments
Fidelity is a well-established player with powerful tools for both beginners and advanced traders.
Pros:
- Zero-commission trades on stocks and ETFs.
- Extensive educational resources.
- Offers retirement accounts (IRAs).
- Top-notch customer support.
- Real-time market data and research.
Cons:
- The interface can be overwhelming.
- No cryptocurrency trading.
- Some premium features have minimum balance requirements.
Why We Picked It:
- With a strong reputation and comprehensive resources, Fidelity is the best stock market app for investors looking for more than just trading—it’s a learning platform too.
3. Acorns
Designed for micro-investments, Acorns is perfect for people who want to invest in spare change automatically.
Pros:
- Automatically invests the spare change.
- Easy setup and passive investing.
- Access to diversified ETFs.
- Educational content for beginners.
- No commission on trades.
Cons:
- $1-$5 monthly fee.
- Limited control over investments.
- No individual stock trading.
Why We Picked It:
Acorns is ideal for beginners who want to start small and invest passively, making it the best app to buy stocks in micro-investment form.
4. TD Ameritrade
Offering an all-encompassing platform, TD Ameritrade provides some of the best research tools in the industry.
Pros:
- Commission-free trading.
- Access to a broad range of asset classes (stocks, options, ETFs).
- Advanced research tools and market data.
- No minimum balance for most accounts.
- 24/7 customer support.
Cons:
- High fees for broker-assisted trades.
- No fractional shares.
- The interface may be complex for new users.
Why We Picked It:
- With robust research tools and no minimum balance, TD Ameritrade is one of the best stock apps for investors who want to dig deeper into the markets.
5. Wealthfront
Known for its robo-advisor features, Wealthfront is ideal for those who want to automate their investments.
Pros:
- Automated investing with robo-advisors.
- Low fees (0.25% annual advisory fee).
- Access to diversified portfolios (stocks, bonds, ETFs).
- Tax-loss harvesting is available.
- Goal-setting tools.
Cons:
- $500 account minimum.
- Limited customer support options.
- No direct stock trading.
Why We Picked It:
Wealthfront’s robo-advisor feature and tax-loss harvesting make it perfect for hands-off investors looking for automated growth.
6. E*TRADE
A well-rounded option for both beginner and experienced traders, E*TRADE offers a wide variety of investment choices.
Pros:
- Commission-free trades for stocks, options, and ETFs.
- Access to extensive research tools.
- Offers retirement accounts (IRAs).
- Educational resources for beginners.
- Customizable dashboards.
Cons:
- $500 minimum for robo-advisor accounts.
- No cryptocurrency trading.
- Some advanced tools may overwhelm beginners.
Why We Picked It:
E*TRADE’s educational resources and a vast range of investment options make it the best stock app for beginners and experienced investors alike.
7. SoFi Invest
SoFi Invest combines commission-free trading with access to personal financial advice, making it a strong contender.
Pros:
- Commission-free trades on stocks and ETFs.
- Access to cryptocurrency trading.
- Automated and active investing options.
- Financial advice is available for free.
- No account minimums.
Cons:
- Limited research tools.
- No mutual fund options.
- Learning curve for beginners.
Why We Picked It:
- SoFi Invest’s unique combination of no fees and access to financial advice makes it one of the best stock apps for beginners and more seasoned investors alike.
8. Charles Schwab
Charles Schwab is a highly trusted name in the investing world, with a wide range of products and services for investors of all levels.
Pros:
- Zero commissions on stocks, ETFs, and options.
- Extensive research and educational tools.
- Wide variety of investment options.
- Access to financial advisors.
- No account minimum for basic accounts.
Cons:
- Some features require a higher minimum balance.
- No direct crypto trading.
- The interface can be overwhelming for beginners.
Why We Picked It:
- Schwab’s reputation, extensive resources, and variety of investment options make it the best stock trading app for beginners looking for long-term financial growth.
Comparison of Top Investment Apps for 2024
| Apps | Fees | Minimum Investment | Assets Available | Best Features |
| Robinhood | Commission-free trading. | 0$ | Stocks, ETFs, Options, Crypto | Simple interface, fractional shares, no account minimum. |
| Fidelity | Commission-free trading. | No minimum for most accounts. | Stocks, ETFs, Mutual Funds | Comprehensive research, retirement accounts, great support |
| Acorns | $1- $5 per month | Starts as low as $5. | ETFs | Micro-investing and automatic investments |
| TD Ameritrade | Commission-free trading. | No minimum for basic accounts. | Stocks, ETFs, Options, Forex | Advanced research tools, 24*7 support, no account minimum |
| Wealthfront | 0.25% advisory fees annually | $500 minimum. | Stocks, ETFs, Bonds | Robo advisor, tax-loss harvesting, automatic portfolios |
| E*TRADE | Commission-free trading. | $500( robo advisor) | Stocks, ETFs, Options, IRAs | Educational tools, customisable dashboard |
| SoFi Invest | Commission-free trading. | $0 | Stocks, ETFs, Crypto | Financial advice, automated & active investing options |
| Charles Schwab | Commission-free trading. | $0 | Stocks, ETFs, Mutual Funds | Access to advisors, no account minimum, retirement accounts |
Some Key Statistics:
- Robinhood has over 22.8 million users as of 2023, proving its popularity among beginners.
- Over 35% of millennials in the U.S. now use investment apps, indicating a growing trend toward digital investing.
- Acorns users have collectively invested more than $15 billion in spare change since its launch, showing how effective micro-investing can be.
- A recent survey revealed that 45% of Gen Z plans to start investing in stocks via mobile apps in 2024, highlighting the future of app-based investing.
With one of these top stock trading or forex trading apps, managing your investments becomes effortless and more intuitive. Whether you’re just starting and learning the basics, or you’re an experienced trader looking for advanced tools, there’s an app tailored to meet your needs. Take charge of your financial future by starting your investment journey today! Explore the options and choose the app that aligns with your goals—whether you’re testing the waters as a beginner or expanding your portfolio as a seasoned trader.
FAQs
1. What is the best app for beginner investors?
The best app for beginner investors often depends on individual needs, but popular choices include Robinhood and Acorns. Robinhood is known for its user-friendly interface and commission-free trades, making it ideal for those just starting. Acorns, on the other hand, helps beginners by automatically investing spare change, making the process simple and stress-free.
2. How do I start as a beginner investor?
To start as a beginner investor, follow these steps:
- Educate Yourself: Learn the basics of investing, including different types of assets like stocks and ETFs.
- Choose a Brokerage or App: Pick an app with low fees and a beginner-friendly interface, such as Robinhood, Fidelity, or Acorns.
- Start Small: Begin with a small amount of money and gradually increase your investment as you gain confidence.
- Diversify Your Portfolio: Don’t put all your money into one stock—spread it across various investments to minimize risk.
- Stay Consistent: Make regular contributions to grow your portfolio over time.
3. Which stock is best for beginners?
For beginners, it’s often best to invest in blue-chip stocks—large, well-established companies like Apple, Microsoft, or Johnson & Johnson. These companies tend to be more stable and less risky compared to smaller, lesser-known businesses. Alternatively, investing in ETFs (exchange-traded funds) is a good way to diversify across many stocks at once.
4. What is the easiest way to invest in stocks for beginners?
The easiest way to invest in stocks for beginners is through an investment app like Robinhood or Acorns. These platforms offer simple interfaces, low barriers to entry, and sometimes even educational resources to help you learn as you go. Fractional investing also allows beginners to buy portions of expensive stocks, making it easier to get started with small amounts.
