New year, new you! It’s also the perfect time to boost your finances. And how do we do that?

Let your money be compounded through the power of investing.

Moreover, we are fortunate enough to live in an era of digitalization, where everything is made easier or automatic.

Gone are the days when investing was a pain in the neck. For instance, calling the broker, manually placing your trade up to the manual distribution of paper stocks/sales through a stock certificate.

Today, you can invest as little as $1. So if you're a beginner, this is a major plus point!

Thanks to cool apps existing today that made it possible for us to grow our money with just a few clicks and taps here and there. There are apps that are beginner-friendly and can even offer free learning materials.

Investing is affordable because most online investing apps are commissions and fee-free due to the low operational cost.

However, keep in mind these recurring charges or minimal to low fees since they can add up and might affect your investment portfolio. Ensure to check in with your investment goals and comprehensive budget plan.

More significantly, a low-cost investment is essential for beginners.

So we owe it to the geniuses behind these apps that revolutionized the way we invest today, giving us chances to grow our wealth. 

It made investing available to anyone, affordable, easier to use, and more accessible for the common masses.

Therefore, here are The Finance Boost's top picks for investing for beginners app.

Related: Money Investing For Beginners: The Right Way To Start Investing.

Investing for Beginners App- 9 Best Apps To Try

1. Robinhood

Apple Store: 4.2/5 stars; 3.8M+ reviews| Google Play: 3.8/5 stars; 400,000+ reviews

The pioneer of commission-free stock trading for investors, Robinhood has gained its name and popularity in investing for beginners app. Indeed, it's popular for a reason.

It indeed is for starting stocks, ETFs, and options traders. You can invest without needing to pay more, even in cryptocurrency trading. There is no required minimum balance in opening an account and no inactivity fees.

With Robinhood's nature, it is suitable for active investors who can take major risks for major returns.

PROS:

• Easy navigation and interactive UI.
• Visual charts, statistics and article news for investor knowledge and education.

CONS:

• Limited customer support.
• Premium versions with a monthly subscription fee starting at $5 (Robinhood Gold)
• Can't trade mutual funds and bonds.

Read more: Robinhood App Full-Review.

2. M1 Finance

App Store: 4.6/5 stars; 37,000+ reviews | Google Play: 4.5/5 stars; 17,000+ reviews

If you are looking for an investment platform that offers great flexibility, M1 Finance might be the best option for you.

They offer pre-made professional portfolios. But you can also make your own portfolio all for free. Its features are automated contributions and automatic rebalancing. Hence, you can build your investment strategy.

That’s why it's fit for self-directed investors!

PROS:

• Fractional shares
• Flexibility in generating an investment portfolio.
• Can modify according to preferences.
• No annual or monthly fees.

CONS:

• Deductible fees

Read more:

• The M1 Finance Full-Review
• M1 Finance vs. Robinhood- Which is the best investing platform for you?

3. Betterment

App Store: 4.7/5 stars; 32,000+ reviews | Google Play: 4/5 stars; 4,000+ reviews

If you are a first-time investor, you might find Betterment a lot more helpful than the rest of the other apps on this list.

Betterment promotes hands-off investing, which will do the leg work for you. Moreover, it is one of the first to feature top-of-the-line, automated financial guidance, and services, commonly known as robo-advisors.

The Betterment app will manage your money by investing and trading. It also picks the appropriate stocks, bonds, and funds on your behalf based on your risk appetite.

Aside from that, Betterment offers automated portfolio rebalancing and tax-saving strategies. It will provide you with an ETF portfolio that is low-cost, professionally managed, and diversified.

PROS:

• No minimum balance required, subject to a .25% annual fee.
• Betterment's premium plan offers the privilege to talk to financial advisors.
• No commissions or transfer fees.

CONS:

• Can't buy individual stocks or expand in individual funds.
• Betterment premium account minimum balance of $100,000 subject to .40% annual fee.

4. Wealthfront

App Store: 4.8/5 stars; 14,000+ reviews | Google Play: 4.6/5 stars; 4,000+ reviews

Experts consider Wealthfront the most worthwhile investing for beginners app in portfolio management.

Similar to Betterment, it also has a robo-advisor feel-like feature. It considers your risk appetite and decides where to put your money best.

Furthermore, it provides you with an updated portfolio template that you can use to guide your investing journey.

Based on your risk assessment result and related factual information you shared, it will help the app to understand your investment plans and horizons better.

PROS:

• Automated investing experience.
• Access to low-cost investment line-up.
• Automatic rebalance.

CONS:

• There is an annual fee of .25% for account management.
• Minimum opening balance of $500 (relatively higher compared to other investing for beginners app)

5. Acorns

App Store: 4.7/5 stars; 700,000+ reviews | Google Play: 4.6/5 stars; 180,000+ reviews

Want to save while investing? Acorns could be the best pick for you.

It’s another creative funding option that utilizes robo-advisors. Your linked cards (debit or credit) can automatically add funds to your account through rounded up costs of spare change from daily transactions.

Furthermore, it's an automated investment that utilizes your automatic transfers and even some banking perks, reducing the hassle of investing.

 For as low as $1 a month (lite account) $3 a month (personal account) and $5 a month (family account,) you can already start investing through Acorns.

With a family account, you can access all the personal account features (checking, investment, and retirement account)

Therefore, if you have an immediate family, they can also start investing.

Lastly, it customizes your portfolio to align with your investment goals and automatically rebalances it as needed.

PROS

• Automatically rounds up, save, or invest spare change from daily online purchases.
• No minimum balance to open an account.
• $1-$5 a month to start investing.

CONS:

• You cannot buy or sell individual stocks on this app.

6. Invstr

App Store: 4.6/5 stars; 2,000+ reviews | Google Play: 4.3/5 stars; 3,000+ reviews

Invstr offers a wide array of learning for new investors through gameplay, something a beginner should take advantage of.

The Invstr Academy is the name of the learning tool through the app. This is where you could maximize training your investment skills by practicing with fellow novices through games without the risk involved.

It starts with a $1M virtual money, and it is your job to ensure its growth.

Moreover, you can build a fake portfolio in the game and get insights from other investors before getting into the real one. Therfore, you can also get engage in a community of investors like you.

So, again, no pressure if things don't go as planned or if you need more time trying to get into its groove. But as soon as you can build up some confidence, you can start investing through fractional shares, even with just a dollar.

PROS

• Practice investing without risking money.
• Offers educational and learning tools for investors.
• Free cryptocurrency trading.

CONS:

• Monthly fees apply up to $3.99 per month and transaction fees.
• Commissions of $2.99 per total trade and ¢99 per fractional trade.
• US-based trades and exchange only.

7. Stash

App Store: 4.7/5 stars; 250,000+ reviews | Google Play: 4.1/5 stars; 80,000+ reviews

Stash is another automated investing for beginners app specializing in educational resources and personalizing investment practices.

It’s excellent for learning investing, especially if your niche is about stocks and ETFs. They make sure to keep you updated on money trends and the latest news.

This educational support is what it has always been known for. Therefore, it does the job by using visualization tools that significantly affect an investor’s decision-making.

Aside from that, they offer three (3) different plans.

Starting at $1 per month for the Stash Beginner plan. Once you've finally gotten a grip of how it works, you might consider upgrading to Stash Growth, which is $3 per month. Finally, the Stash+ $9 per month for broader options in investing.

PROS

• Free educational resources and learning tools.
• Automated investing for beginners app.
• No fee for trading and 0% commission.

CONS:

• $5 investment as minimum balance in opening an account.

8. Charles Schwab

App Store: 4.8/5 stars; 500,000+ reviews | Google Play: 3.8/5 stars; 20,000+ reviews

Charles Schwab is an investment app not just for experts but also for beginners. Aside from its mobile-friendly feature, they offer many free tools for learning the nooks and crannies of investing.

Moreover, they offer stocks, ETFs, bonds, options, and fractional shares.

There is no recurring fees. Hence, it doesn’t rip off your earned profits.

PROS

• No annual, inactivity, and transaction fees to an extent.
• 0 minimum balance requirement and is commission-free

CONS:

• Without automated cash sweep to a money market account. It means you as an investor have to actively check now and then to maximize a high-yielding market fund.
• Fluctuating foreign exchange and cryptocurrency.
• Historically, margin rates were also a problem. So most investors look for a better apps.

9. Binance.US

App Store: 4.7/5 stars; 99,000+ reviews | Google Play: 4.2/5 stars; 500,000+ reviews

Cryptocurrency is the keyword in understanding Binance.US.

Among the many investing for beginners app, it allows trading through digital currencies with low trading fees and automatic discounts for generous traders.

Fun fact. It was the top choice by Forbes Advisor in terms of a cryptocurrency exchange. Binance.US gives access to over 64 available cryptocurrencies though limited to some states in the US.

Despite that, it has remained the most used platform for crypto traders because of the available tools and helpful educational resources they have.

Most importantly, its cybersecurity is top of the line. Hence, gaining positive feedback from investors.

Research is vital in understanding how Binance.US works.

PROS

• Low trading fee.
• Offers 50+ cryptocurrencies available.
• Best for Peer-to-peer and Crypto trading.

CONS:

• Not accessible to some states in the U.S (Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont)
• Technical but comprehensive dashboard can be overwhelming for beginner's eyes.

FAQs

How to choose the best investing apps for beginners?

With numerous finance apps today, it could be a real dilemma to decide which platform offers the most promising results and would greatly capitalize on your hard-earned money.

The booming fintech offers a vast selection and continues to expand due to innovation and the fast-changing market.

Of course, there is no specific investing for beginners app that could guarantee a progressive return. However, finding the right app that suits your need will lessen the risk.

That's why it's best to have extensive research first. Then, take advantage of all the information the internet has to offer as your educational resource.

Finally, check if the app's features aligns with your financial goals and lifestyle.

Therefore, know your needs and what's essential for you in investing. For instance, you can ask these questions to yourself and set your standards around them.

Questions to ask yourself before choosing the best investing for beginners app.

• Is it the convenience, accessibility, or profitability that matters?
• What makes it different from the other platforms, and is it align with your financial goals?
• Where are you headed with your investing journey?

Hence, with how easy it is to get into investing, it would be such a rookie mistake and a poor investment strategy to sign up to anything you randomly saw on the internet.

Therefore, do your thorough research. Above all, jumping into the investing world without equipping yourself with the right basic knowledge is like jumping into the cliff with your eyes blindfold.

Are investing apps safe?

Cybersecurity is of utmost focus today. Hence, any form of a data breach could potentially cause damage to a certain extent and even theft.

Therfore, when hopping into the investing bandwagon, a beginner or an expert should know how well these apps can help you protect your data, including your financial information.

For instance, the most common security feature for verification purposes is a unique security question, a one-time PIN code, and encryption cookies. Hence, these provide added security against your personal information to possible hackers.

In addition, the Securities Investor Protection Corporation (SIPC) can cover up to $500,000 in investments. Sounds just right.

How much money do I need to get started investing?

Most financial institutions require a minimum amount opening balance. Some would even require as much as a $1,000 so that you could open an account.

But since we live in the modern world, it has become easier to invest with minimal budget.

As a result, most investment apps today do not require a minimum balance anymore. But they make up for it through other fees and commissions.

Furthermore, you can now buy fractional shares for as low as $1!

After all, there are investment apps that provide better trading and advisory fees. Some offer commission-free trades as part of their gimmick.

But as they say, there is no such thing as free bread in the world. So many of these investment apps try to lower or eliminate commission on trades as much as possible.

However, it won't be long before the fee would have to be applied once again to meet the costs.

Any stock trade activity is often subject to a trading fee between $2 to $10. Some investment apps offer this service for free but the caveat is that they make up for it through other ways.

However, it does affect your profit. So you need a strategy that will allow you to save costs as much as possible.

Summary

The best investing for beginners app should focus on your purpose, need, and practices. Choosing the right investing for beginners app could take a lot of time in research and comparing fees to benefits.

However, it should be easy-peasy once you get the hang of it.

The amount of money for initial investment won't matter. Since most investment apps today do not require it; some even have little to no fees at all.

Hence, are you willing to take the risk? As a beginner, your educational resources would be vital, so it has to be substantial.

An essential trait of an investor is discipline. So you should be able to grow no matter how small your starting fund is if you know this word by heart.

So what’s stopping you from reaching your financial goals?