Investment can be incredibly tricky. Even if you’re the most seasoned investor, the stock market is
volatile and can quickly land you in an unpleasant situation. But investing can also be extremely lucrative — if you know how to do it right.
previously discussed, you shouldn’t be thinking about diving into investment until you have a fully funded emergency fund, have paid off all of your serious debts, and have your short-, mid-, and long-term financial and life goals under control.
Once those goals are achieved, by all means, start to do your research on investing. Remember, stocks aren’t the only investment option available. There are a number of other tools that can help you grow your wealth, from mutual funds to bonds to exchange-traded funds. But if you have your heart set on buying some stock and want guidance, there are apps that can help.
Whether you’re totally new to the stock market, are relatively comfortable, or are a more seasoned investor, there’s an app for you. Ahead are four great stock and investment apps perfect for anyone.
Acorns is a micro-investing app that takes most of the guesswork out of investing in stocks, and it’s best suited for beginners.
All you have to do is link your bank account, and then Acorns will track your spending and round up purchases to the nearest dollar. That difference will be added into an Acorns account to be invested. From there, Acorns will build your portfolio — diversified across several different asset classes — depending on the initial investment goals you filled out when you first downloaded the app.
Cost: $1 per month for accounts with a balance under $5,000; 0.25% of balance per year on accounts over $5,000
Minimum balance: $5
Stash is a good option for beginners or those who have limited investment experience. With Stash, you can start off with a small investment, and the app will then help you decide which investment decisions, like whether to consider stocks or ETFs, to make while teaching you the ropes along the way.
A great thing about Stash is that it includes articles and tips that can help you grow into a stronger investor as you use it.
Cost: First month free; $1 per month for accounts with balances under $5,000; for balances over $5,000, the fee is 0.25%.
Minimum balance: $5
Robinhood is one of the best stock-trading apps out there — and it’s free. While it doesn’t offer things like mutual funds, there are options to buy stocks and ETFs, as well as Bitcoin. And its interface is intuitive and easy to understand.
One of the best parts of Robinhood is that you get to invest in companies you love,
such as Glossier, and build out your ideal portfolio, commission-free. If you want more features, you can also upgrade to a premium account, Robinhood Gold.
Cost: $0; Gold: based on account size, minimum fee is $6 up to $200
Minimum balance: $0; Gold: $2000
TD Ameritrade app is one of the best overall stock apps available, and it offers a number of different versions built for specific needs and skill levels.
While it’s good for beginners, the TD Ameritrade app is particularly great for advanced investors, as it offers a customizable dashboard, charts, market alerts, and a number of other technical indicators that can help you make the best trade decisions based on your specific goals.
Cost: $6.95 per trade
Minimum balance: $0
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