The best apps to buy stocks and invest your money.
The world is a scary place. It’s also full of opportunity, but many people aren’t sure how to take advantage of it. Make no mistake: You don’t have to be rich or even upper-middle class to make smart investments that can change your life for the better over time. Anyone can do it, and all it takes is some basic knowledge, a little bit of money up front and some patience (and maybe even luck).
To help you get started on this road toward financial independence—or at least a better-than-average retirement fund—I’ve rounded up some helpful apps for tracking stocks and making smart investments. There are tons out there, so I focused on ones that are easy to use with minimal effort required from your end (so no Bloomberg terminals here!). By using these tools regularly over time, you’ll be able to see exactly what your money is doing…even when it’s not doing anything at all!
Robinhood (iOS, Android)
Robinhood is a mobile app that helps you invest in stocks and ETFs. The app is free to use, with no commission fees for buying or selling stocks. Robinhood doesn’t charge any account minimums, so you can start investing with just a few dollars.
Unlike other brokerages that charge high fees when you buy or sell stocks, Robinhood doesn’t have any transaction costs. You don’t need to wait days for your money from your bank—you can buy and sell immediately on Robinhood’s trading platform!
The mobile-only platform supports market orders as well as stop limit orders (which specify how much higher/lower than current market price you want your trade executed at).
Acorns (iOS, Android)
Acorns is a micro-investing app that allows you to invest in ETFs with as little as $5. It uses the “round up” concept, where it automatically rounds up purchases and invests the change in an ETF portfolio. The company charges no fees for its service unless you choose to buy or sell stocks outside of their platform (which would incur a fee).
Acorns is free for college students, and the first $5,000 you invest is managed free of charge through August 2019. You can also get started with Acorns by visiting [this page]
Stash (iOS, Android)
Stash is a robo-advisor that allows you to invest in stocks and ETFs without having to pay any fees or commissions. It’s also free if you invest less than $5,000. The app has a feature called “Stash Learn” that lets users learn about investing at their own pace, as well as more advanced features like analyzing their portfolio performance over time and taking suggestions on how they can improve it.
If you have more than $5,000 to invest with Stash, the company will charge an annual fee of 0.25% on assets under management—that’s much lower than what most traditional brokers charge (typically between 0.5% and 1%).
Betterment (iOS, Android)
Free to use, with no minimum balance requirement
Automatic rebalancing
Low fees: 0.35% of your assets per year, plus $3 per month ($0 for their basic plan)
Reputation for good customer service
Vanguard Personal Advisor Services (Android)
Vanguard Personal Advisor Services (VPAS) is a digital financial advisor that is available on the Android operating system. It’s designed to help you make informed investment decisions based on your personal goals and risk tolerance.
VPAS helps you plan for retirement, build wealth, save for education and more by automating investment management tasks. The app is free to use if you have $50,000 or more invested in Vanguard funds (otherwise it costs $80 per year). There are no additional fees associated with using VPAS — this service is only available through existing relationships with Vanguard fund participants.
The best apps for buying and investing in stocks
Investing can be a little bit confusing, but investing apps are here to help. There are so many options available that it’s hard to know if one of them will work for you. However, there’s no need to fret—we’ve compiled the best apps for buying and investing in stocks!
What are the best apps for buying and investing?
These days, investors can choose from an array of investment platforms that allow them to make trades from their mobile phones or tablets instead of having to visit an office every time they want to trade stocks online. These types of applications have been popularized in recent years by companies like Robinhood and Stash (formerly Acorns), both offering free trades with no minimum balance requirements. Other notable options include E*Trade Mobile (which requires an active checking account) or TD Ameritrade Client Mobile App (which requires traditional banking services).
You can buy stocks from your phone!
You can buy stocks from your phone. If you’re looking to invest but don’t have the time or resources to actively manage your portfolio, app-based investing is a great solution. Apps let you buy stocks and other securities right from your mobile device, giving you access to a wide range of investments that may not be available at most brokerages. Some platforms even let users buy fractional shares (less than 100) and trade on margin—which means, essentially, that if the price goes up during trading hours (and it usually does), investors can take their profits without waiting until the next day’s closing bell rings.
Conclusion
I hope this post has helped you decide which stock trading and investing app is best for you. If you’re looking to start investing in stocks and are looking for a way to do so on your phone, any of these apps will provide an easy way to get started. Need cash now? Apply for a personal loan today.