8 Best Investment Apps for Beginners in 2020

Investment Apps for Beginners – You must have stumbled across lots of ads and platforms on the internet for various investment opportunities. Most times, we are left with doubt if these investment opportunities are scams or just another Ponzi scheme.

There are lots of genuine investment opportunities for investors online. These investment opportunities have been made easily accessible with just a smartphone and access to internet facilities from the comfort of your home.

Thanks to the creation of some of the best investment Apps from these platforms, which guides investors on how to invest their funds, secure it, and possibly trade it for various assets.

 

One of the best decisions you can make to build wealth is to start investing early. Here's a list of the best investment apps for beginners. Learn how to build wealth and enjoy an early retirement!

 

Read Also: Is Investing Your Money the Best Thing for You?

 

Best Investment Apps for Beginners in 2020

We discovered that these 8 top the charts for best investment apps for beginners. They are easy to use and provide sufficient guidance to help you navigate the platform.

 

1. Wealthfront

Are you looking for an online investment opportunity where you can manage your investment at a lower cost? Wealthfront answers it all.

Andy Rachleff and Dan Carroll created Wealthfront in 2018 as an automated investment system. Its automated system has the power to guide individuals willing to control their financial investment.

In its investment apps, you will be exposed to a number of things. These include, plan for owning your home, retirement, managing travel expenses, settling school expenses, etc.

After registering, its automated financial system will calculate for case scenarios like; impact on inflations on your net-worth, current spending and saving monthly, and impact on tax during times of withdrawal on individuals account.

Weathfront also assists by incorporating essential data that could help you start your investment process.

It is one of the best investment apps for beginners because of the incorporation of these data. Also because of the flexibility in saving and borrowing. If you intend borrowing through wealthfront, your portfolio Line of credit makes it all easier.

With your portfolio line of credit, you will enjoy instant payment, reduced rates of payment between 4.75%-6.00%, and the possibility of borrowing up to 30% of your account worth.

 

2. Stash

One thing is to have heard about some of the best investment apps; another thing is to try them out. Stash investment app will not only make you love its investment module but engage in it.

Stash existence can be traced to 2015 when three investment professionals, Brandon Krieg, Ed Robinson, David Ronick, developed an investment app to assist investors in investment management, investment portfolios, and stock trading.

It was first launched as a test-run project on iOS smart devices and later opened to Android users in 2016.  What stash does is that it makes investors and those who are new to investing find ease and comfortability in investing in the major stock market.

When signed up with stash, it gives you access to over 30 different options for investment. To be able to access its full functionality, stash requires a minimum of $5 for the initial investment.

Aside from your initial start-up fee, stash charges a monthly fee of $1. But once your account builds its investment to $5,000, stash charges 0.25% of the money in your account.

A unique aspect of Stash is that its investment system pays off in the long run because its returns come back in compounding interest.

 

Related:  Best High Yielding Short-Term Investments

 

3. Stockpile

Stockpile is one of the best investment apps when it comes to offering users the ability to buy some fraction of shares in stocks and exchange-traded funds for low trading fees.

With their smart application for both iOS users and Android users, you can sign up, link your bank accounts, and fund your stockpile account.  When registered in their platforms, you will be exposed to buy fractional shares of stocks from different industries.

Stockpile grants access to its users for them to enjoy low trading fees of 99cents, and no monthly charges. It also provides security protection to investors’ funds by using an encryption system.

As one of the best investment apps, the stock includes functionality for users to track market stocks and even allows you to send e-gift to your loved ones in the form of stocks.

 

4. Clink

How small do you wish to save for your next holiday trip or children’s school fees? Clink allows investors to save with as low as $1 for any saving plan.

This system makes it ideal for low-income earners and individuals who which to invest in it in a long term journey. Its simplified app makes it easy for investors to manage their deposited funds and make withdrawals from the comfort of their homes.

Clink investment platform provides security as one of the best investment apps in this millennial.

Its security system is equivalent to any other traditional banking system; offered through Apex Clearing, which is ideal for digital financial services.

 

5. eToro

In 2012, eToro was awarded the winner of the Red Herring 100 Award for being one of Europe’s most innovative companies. Etoro has one of the best investment apps for social trading.

Its existence can be traced to 2007 when Jonathan Assia and David Assia launched it as an open-source.

eToro presents an easier system of online trading of financial assets like stocks, fiat currencies, and cryptocurrencies through the use of their mobile app.

eToro social trading tool allows the user to use its CopyTrader technology. With this technology, traders can replicate another trader’s portfolio and trade.

Its social trading tool is flexible for both newbies and experienced users, allowing investors to spread out their invested capital across various markets. Over 6 million users have trusted the eToro trading tool because of its transparency.

Its trading network exposes each trade’s portfolio and risk score, which acts as a guide to any investor who chooses to copy trades.

eToro has been recommended as one of the best investment apps because it embraces a broad aspect of trades.

You can invest in the stock market, commodities that show high value like gold, currencies,  ETFs, Indices,  and cryptocurrencies like bitcoin and ethereum.

 

6. Robinhood

In Blain Reinkensmeyer’s review statement on Robinhood, he rated it as one of the best investment apps for beginners that are is well designed and excellent for ease of use.

He went on to rate Robinhood in areas of commissions and fees, platforms and tools, mobile trading, and offering of investment.

Vladimir Tenev and Baiju Bhatt founded the Robinhood investment platform. The duo was able to work on its trading algorithm to allow exchange-traded funds on the stock market.

After serious work and development, Robinhood was launched in 2013 as an open-source. Robinhood trading platform allows intending-users to invest in stocks, ETFs, and cryptocurrencies with free access.

Robinhood is entirely friendly to both newbies and professionals. As a professional, Robinhood allows you to execute multi-system of trade strategies, analyze and follow different candlestick charts, and choose which trades that best works for you.

 

Been thinking about investing and don't know where and how to start? These investment apps for beginners make investing easy and seamless. Check out how they work in this article!

 

7. Plus500

Are you good at speculating on the rise and fall of price in financial markets such as shares, indices, commodities, and currencies? Then Plus500 will be the best fit for you.

Plus500 allows you to trade CFDs on shares, indices, forex, and the ever-growing blockchain industry (cryptocurrency). For beginners who are entirely new in trading CFDs, Plus500 offers a trading demo before going on live.

Plus500 dashboard offers forex trading pair as a guide for investors to place a trade with a minimal loss. It also provides advanced tools in other to gain access control of your account.

Users can create flexibility for their trade by providing stop limit or stop loss. They also receive a daily email notification to get market insights before placing a trade.

Plus500 has made its trading options to be suited for both desktop and smartphone users. You can download their investment app for both iOS and Android OS.

 

8. Acorns

Saving with some of the best investment apps can be difficult if you are a low-income earner. But with the use of Acorns, squeezing out some extra cash for saving can be a lot easy.

Acorns’ growth within the last two years has been tremendous because of its ability to accommodate low-income earners.

Its micro-investment strategy has been helpful to investors in the area of saving some extra cash whenever they shop with the use of their credit card.

Starting with acorns requires you to choose from their three flexible plans as $1, $2, and $3. Each plan has its peculiarity and features. Anybody can decide to go into investment in any of the plan according to the financial strength of the individual.

Acorn offers a new way to earn cash. You can shop with any of their partners, while they automatically invest in your core account. Acorns allow this system for individuals who have already linked their credit card to acorn’s core account.

This post may contain affiliate links. Please read my full disclosure and disclaimer

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