7 Best Investment Apps Of 2020

Best Investment Apps for Beginner

According to Robert Kiyosaki, Investing is the science of “money making money”. If you want to grow your money and want your money to work for you, then there is no better way then Investing. Investing is one of the most prominent assets acquired by the Riches.

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With growing financial knowledge, people are showing interest in investing. And with modern technology, it becomes even easier to invest simply by your mobile phone. Investment Apps are gaining popularity among beginners who wants insights into the stock market and be a part of it.

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There are hundreds of investing apps through which you can start investing from home drinking coffee. But for you, we have listed the best 7 investment apps especially if you are a beginner.

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Here Are The 7 Best Investment Apps for Beginner

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1. WEALTHFRONT

Android Ratings- 4.8/5

IOS Ratings- 4.9/5

If you are looking for a Robo advisor with great financial planning then Wealthfront is for you. Wealthfront provides you an opportunity to grow your wealth through low cost automated investing.

It provides you a diversified portfolio of a low-cost index fund. Wealthront also has a Huge Line Of Credit. One of the key features of wealth front is that it offers a wide variety of accounts to open like

  • Standard Taxable Account
  • Joint Investment Account
  • Trust Account
  • Traditional IRA Account
  • Roth IRA Account and many more.

When you sign up for this app you encounter a list of questions that will determine your risk managing capacity or your risk tolerance and based on your risk tolerance your Asset Allocations are set.

PROSCONS
Best For Goal TrackingNo Human Support
Provide Tax Loss HarvestingNo Partial Share
Free Financial PlanningInterest On Cash

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2. TD AMERITRADE

Android Ratings- 3.5/5

IOS Ratings- 4.3/5

Originally owned by Canadian Bank, TD Ameritrade is one of the best brokerage apps for the retail investor and with it’s easy to use interface makes trading easy and convenient to beginner. It provides Plenty of investment options like stocks, ETF, options, future, forex, mutual funds, and many more.

TD Ameritrade provides lots of ways of funding like:

  • Electronic Transfer Deposit
  • Wire Transfer
  • External Securities Transfer and more

With lots of investing and trading tools, it certainly makes your trading easy. One of the key features about this app is their Education. Webinars, quizzes, trading sessions, and hundreds of videos are absolutely up to the mark when it comes to investing.

PROSCONS
Commission Free TradingOnly US Secific
In-depth EducationHigh Margin Rates
Plenty Of Investment OptionComplicated for Beginners

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3. BETTERMENT

Android Ratings- 4.4/5

IOS Ratings- 4.8/5

Betterment is your automated financial advisor when it comes to investing. It helps in creating portfolios according to your financial goals and requirements. When you register for betterment it asks you some questions like your age, your saving goal, your target amount, your goals, and based on the answers it will create a strong portfolio for you. Betterment provides varieties of account to choose from like:

  • Individual Taxable Account
  • Joint Investment Account
  • Retirement Account
  • Business Account
  • Banking Account and many more

Betterment provides the facility of IRA account which you can surely use for retirement as well as tax advantages. Betterment is a safe and secure option for long term investors.

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PROSCONS
Tax Loss HarvestingOnly US Specific
No minimum depositNot totally personalized
Interest On your Cash

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4. ROBINHOOD

Android Ratings – 3/5

IOS Rating – 4.8/5

Robinhood is a trading app which allows you to trade is stocks, future, options, cryptocurrency without any fee. Yes, you heard it right it is a commission-free trading app. With easy to use and investor-friendly. Robinhood has some absolutely awesome features when it comes to investing Like Robinhood Gold, Day Trade Tracking, options trading, Robinhood instant, scheduled deposit, and many more.

Robinhood Gold

It’s a company program that provides an opportunity for the trader to trade on borrowed money or margin that charges $ 5/monthly. If you are looking for a commission-free trading app then Robinhood is a go-to option for you.

PROSCONS
Fewer to No Charging feeLimited account
Crypto TradingNo Mutual funds and bonds
Robinhood GoldNo Retirement Account

5. ACORN

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Android Ratings- 4.5/5

IOS Ratings- 4.7/5

Acorn is a saving cum investing app best suited for the beginners who want to start their investing journey. Acorn is also free for college students. It comes with lots of features including Multipliers, Acorn Later, Acorn Spend, Acorn Gift card which makes your investing bit easy.

As soon as you downloaded the app and register, apps will ask you a few questions about your financial goals and requirements and based on that it will create a suitable portfolio for you.

Acorn comes with a feature called FOUND MONEY where whenever you make a purchase anything from their partnered companies which include Airbnb, Walmart, Apple, and etc acorn will actually invest some money for you.

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PROSCONS
Best for Saving MoneyHigh Fee for small balance
Free for college studentsNo Tax Benefit

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6. E*TRADE

Android Ratings- 3.6/5

IOS Ratings- 4.6/5

One of the masters when it comes to online brokerage platform. It is one of the giants in brokerage firms for the active trader. E*Trade recently become commission-free which attract lots of new investors and traders. With a wider variety of investment to choose from its Power E*Trade platform have become a new favorite for options traders.

With great educational resources, E*TRADE provides online courses for beginners. It also provides a variety of accounts to open according to your financial need like traditional, Roth SEP, custodial accounts, etc. If you are a beginner you can consider E*Trade for your new trading journey.

PROSCONS
Commission Free TradingHigh Margin Rate
Suitable for BeginnerAverage Customer Support
Personalized Stock Alert

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7. STOCKPILE

Android Ratings- 4.5/5

IOS Ratings- 4.7/5

Stockpile is an online brokerage app making investing easy. It makes Buying and Selling of stocks quite easy. One of the highlighting features of the stockpile is that it allows you to purchase a gift card that can be used to buy stocks.

Easy to operate with the low commission with its gifting stocks, Stockpile allows whole new investing experience. If you are one of those who are looking to dive in the sea of stock market then Stockpile is for you.

PROSCONS
Gifting StocksOnly limited to US
Easy to OperateLimited Security
Low CommissionLimited Investing tools

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