As a beginner trader entering the world of stocks and shares can be incredibly daunting! With the plethora of apps now available for newcomers, it can be difficult to know where to begin.

When using investment apps for the very first time, it is advisable to download an app which is user friendly and accessible.

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When assessing which are the best apps for customers to use, we at TheStartupTraining review the below following criteria:

1. Ease of Use / Accessibility.
2. Educational resources available on the app.
3. Customer Service availability /Advisors available.
4. The Comparative success of the App in relation to other Apps.
5. The Cost of trading and use of the App.

Best Investment App for Automation, ‘Acorns’

Acorns is an outstanding app when it comes to improving the value of your savings. One of the unique features of the ‘Acorns App’ is that it integrates with your existing credit / debit card and rounds up any purchases made to maintain funds in your investment account.

Main Features for users

• No Investment minimum rates.
• The app caters for up to five different portfolio types.
• The Cost of the App is relatively cheap ranging from 1- 5 dollars (Five dollars being the cost of the premium account) with 24-hour Customer support available for users should there be any issues with their account.

Best Investment App for 24/7 Trading, ‘Ally’

Ally is an excellent app for beginners predominantly interested in working with stocks / bonds. The app enables users to access mutual funds / ETFs. The app integrates real time data to enable users to trade 24/7.

Main features for users

• Options pricing calculator.
• No minimum investment rates.
• 24/7 Trading facilities.

Best Investment App for Multi-functional trading ‘Alvexo’

Alvexo enables novice investors to receive an all-rounded understanding of Crypto currency trading due to its comprehensive training section for beginners.

Main Features for users

• Different Account Types – Over four specialised account prototypes to choose from catering to each user individualized needs.
• Platform Suite – The platform suite function enables users to access three separate platforms with access to over 450 different Assets.
• Alvexo Plus enables users to have access to a variety of exclusive features such as the daily news, an economic calendar, and profit and loss calculator.

Best Investment virtual reality trading App ‘Wealthbase’

‘Wealthbase’ is an investment simulation app, which is perfect for beginners who wish to learn the ropes prior to embarking upon their trading journey. Users can make virtual stock trades and exchange cryptocurrency, whilst also collaborating with peers / friends. Many novices use ‘Wealthbase’ due to its risk-free nature and easy to use interface.

Main Features for users

• Trading simulator function to enable risk free learning
• Socialising function to share progress with friends
• Easy to use app with customer service facilities.

Best Investment App for Copy Trading, ‘ETORO’

This app caters for all levels of potential investors, primarily due to the accessible nature of the App, and the excellent Customer Service facilities which are available to customers. ‘Etoro’ is also regulated by FCA/ASIC/CySEC financial regulatory bodies.

Main Features for Users

Copytrading – The Copytrading facility enables users to imitate the investment practices of some of the best traders and accumulate similar funds.

Education / Training – Etoro provides an educational training platform available for all users to avail of.

Initial Deposit – Although there is a minimum rate of investment it is relatively low at 50 dollars.

Best Investment App for no trading costs ‘Merrill Edge’

Merill Edge is owned by bank of America and offers integration packages for new users. There are no trading fees deployed when using the app, and once you are a bank of America customer you can utilize the same log in detail to transfer funds through both platforms.

Main Features for Users

• Education / Training – Merrill Edge provide training to educate potential investors including courses / webinars / articles.
• No Annual fees / Inactivity fees. – This gives Merrill Edge a comparative advantage in comparison with more costly apps.
• Rewards program for eligible users- This gives users a great incentive to grow their investment practices.

Best App for Access to Human Advice: ‘Betterment’

This app caters for investors whose predominant concern is in relation to taxation and associated costs. Betterment is renowned to assist users with the formation and maintenance of a tax friendly portfolio. Betterment is one of the first Apps to offer a Robo Advisor to recommend re account management and maximising tax efficiency.

Main features for users

• No minimum Investment required.
• Phone support from certified advisors is provided.
• Portfolios are tailored based on the individualized needs of clients.

Best Investment App for educational resources: ‘Charles Schwabb’

This app is renowned for its versatility and ease of use functionality. It is a suitable app for traders of all different experience levels. It also has a plethora of educational resources available for newcomers alongside fractional shares for as low as 50 dollars!

Main Features for users

• Stock /Bonds/ EFT options available for investors.
• Fractional shares available for investors from 50 dollars upwards.
• No Annual/ Inactivity fees making the app an excellent low-cost option.

Best Investment App for flexible trading M1 Finance

The M1 finance app is an excellent APP for those who wish to obtain flexibility within their own portfolios.

Main features for users

• The app maintains a hybrid Investment set up with stocks and ETFs available for customers.
• Retirement Account minimums at 500 Dollars.
• The Premium version of the app provides further stock options to potential customers.

Best Investment App for Free Trade: ‘Robinhood’

Robinhood is highly cost effective as the app offers stock trading with no associated fees. The Robinhood app is highly user friendly and tactile suitable for traders of differing experience levels.

Main Features for users

• No trading fees are applied to your account.
• No minimum balance fees are applied upon sign up.
• No Inactivity fees apply also.

Best Virtual simulation Investment trading App: ‘Investr’

The Investr app is a unique investment trading app due to the virtual reality /simulation features on the app. Over 1 million dollars are awarded to users in fake cash / tokens. The app also enables users to manage a vast counterfeit portfolio before embarking on their trading expedition. The app aims to make financial topics accessible on a low-risk forum.

Main features for users

• Portfolio management simulation feature for low-risk client engagement.
• Educational resources / training provided.
• Real cash prizes awarded to clients for successful management of the counterfeit portfolios.

Best Investment App for Short Term Trading TD ‘Ameritade’

This compact app allows its users to access information on all applicable stocks, companies, and markets to enable beginner traders to make the best-informed investment decision to match their own individualised goals.

Main Features for users

• The app has multiple trading platforms available for users.
• No Investment minimum rates are applied.
• Educational resources are available for customers alongside excellent customer support and advice.

Best Investment App for strategic advice:’SOFI’

This investment App is an excellent resource catering for beginners. It’s an incredibly easy to use platform and provides users with excellent investment strategies coming from financial advisors or experts. It is a relatively low-cost app, as you can purchase SOFI for 1 dollar.

Main Features for users

• Managed portfolio Feature free for users- The best investments are selected on user’s behalf.
• Complimentary financial advice / Investment education- Users are provided with the best investment strategies.
• There are no commissions taken for trading / no recurring account fees.

Best Comparative investment App ‘Public’

This innovative app is an excellent choice for beginners as it has comparative brokerage features based on the functions used by social networks such as Facebook / Twitter. Fractional shares are offered to users from as low a rate as five dollars.

Main Features for users

• Social media like comparison features of the App enable traders to make the best use of their investment.
• The App offers popular options for traders to use such as stocks and ETFS.
• Share prices starting from reasonable price of five dollars upwards.

Best Investment App for Kids / Young people:’Stockpile’.

This app is a superb tool catering for kids/ young adults who wish to learn about stock trading. The app conveniently has a no commission rate, and the currency comes in the form of gift cards which can be purchased by the user. The app also allows you to keep tabs on the progress/ status of your current investments. It is also incredibly easy and fun to navigate.

Main features for users

• The app currently has a zero-dollar commission rate.
• The app also provides educational resources to young people who wish to learn about trading.
• The app is easy to use which enables children to learn effectively.

Best Investment App for Managing your 401 K: ‘Bloom’

The Bloom app focuses on portfolio management for employer-based retirement plans such as 401 Ks 403 Bs and IRAS. The Bloom app also offers investment strategies to facilitate your own goals and retirement plans. There is no minimum balance requirement for setting up an account.

Main features for users

• State of the art robotic advisors.
• Focuses on employer sponsored retirement accounts.
• Low risk app with little involvement required from the user.

Best Investment App for Long term Investing: ‘Wealthfront’

The Wealthfront investment app focuses on long term investment plans using low-cost robotic advisory services. Despite the 500-dollar minimum account balance, no fees are charged for trading or opening and closing an account. The app also focuses on lowering calculated investment risk and offers many tax friendly options to save users money.

Main features for users

• Robotic analytic advisory service available with the app.
• Customized portfolios formulated based on user needs / investment risk strategies.
• No fees charged for opening / closing an account or for trading purposes.

Best Investment App for Real Estate Investing: ‘Fundrise’

This app is best catered towards real estate investors. It is an accessible app which facilitates both accredited investors and beginners. It also provides users with unique resources such as access to the advice of expert investors. Similarly, the App enables users to invest in real estate Investment trusts or REITS. The account minimum balance is 500 dollars with the overall management fee resting quite low at 0.85 percent.

Main features for users

• The app caters towards real estate investments
• Users have access to expert strategic advice.
• The app facilitates either growth investing or supplemental income investments.

Best Investment App for Cryptocurrency:’Coinbase’

This app is the best choice for those who which to trade using cryptocurrency. Users can build and maintain a portfolio using infamous cryptocurrencies such as Bitcoin /Ethereum / Litecoin. The wallet function also allows users to maintain all their tokens in one place and pay directly from the Coinbase App.

Main features for users

• Low minimum account balance of 2 dollars.
• Allows user to trade in common cryptocurrencies
• Wallet function enables users to both see their tokens and pay other Coinbase users with tokens.

Best Investment App for Women: ‘Elevest’

The Elevest investment app was formulated to cater for the specific needs of female traders using a unique feminine perspective. The Robo advisor on this app was formulated by women for women and considers gender specific criteria such as gender pay gap / childcare / health and lifespan issues / Career breaks etc. The app offers a three-tiered service Essential / Plus / Executive ranging from 1-9 dollars.

Main features for users

• Suitable for women as the app takes gender specific issues into account when formulating investment strategy.
• Financial coaching service offered as part of the app with a 50 percent discount for app users.
• Standard monthly fee deployed instead of per asset charging.

Best Investment App for Chase’s clients and Cardholders: ‘JP Morgan’

This app may be the best option for current JP Morgan and chase customer as it integrates your already existing accounts with the investment trading platform at zero percent commission You can select either the Trade or Portfolio Investment plans. Trade caters for investors who wish to maintain a hands-on approach with free trading and no minimum account balance. The Portfolio option is the best option catering for those who wish to have someone else maintain their accounts. With a 0.35 percent management fee for portfolios and no minimum account balance it may be a very enticing option for current JP Morgan and chase clients.

Main features for users

• The app offers robotic strategic analysis.
• Trading is offered to users at a 0 percent commission rate.
• Users can opt for the ‘hands on’ traders account versus the ‘Portfolio’ management account.

Conclusion

Overall, we can see that a variety of apps are available for investors coming from all sorts of experience levels. Each of the above listed apps cater for various individualised needs such as low risk investments / low-cost trading / Training and educational resources etc. We have provided a 1–5-star general rating for each broker we researched based on general criteria outlined. If you have any queries do no hesitate to contact us directly.