Top Investment Apps for Beginners in 2024

Investing has become more accessible than ever, especially with the rise of mobile apps designed to simplify the process for beginners. In 2024, many apps offer features that cater specifically to novice investors, including user-friendly interfaces, educational resources, and low or no-fee options. Here’s a look at some of the top investment apps for beginners in the USA this year.

Table of Contents

1. Robinhood

Best for: Commission-Free Trading

Robinhood gained popularity for pioneering commission-free trading and making it easy for beginners to invest in stocks, ETFs, and cryptocurrency. The app’s simple interface makes it ideal for those new to investing. Additionally, users can buy fractional shares, allowing them to invest in high-priced stocks with smaller amounts of money.

Features: Commission-free trades, crypto trading, fractional shares, options trading, cash management account.
Educational Tools: Limited, but offers a news feed and basic investing tips.
Fees: Free for basic trades; Robinhood Gold membership ($5/month) provides access to premium features and extended trading hours.

2. Acorns

Best for: Automatic Investing and Savings

Acorns is perfect for beginners who want to invest passively. The app’s “Round-Ups” feature automatically invests spare change from daily purchases by rounding up transactions to the nearest dollar and investing the difference. Acorns also offers automated portfolios based on individual risk preferences.

Features: Round-ups, recurring investments, automated portfolio rebalancing, access to retirement accounts (Acorns Later).
Educational Tools: Basic financial literacy resources and tools for learning about budgeting and investing.
Fees: $3/month for personal accounts; $5/month for family accounts (which include investment, retirement, and custodial accounts).

3. Stash

Best for: Personalized Investment Recommendations

Stash offers a unique blend of personal finance and investing, making it a great choice for beginners. It combines educational content with personalized investment recommendations, encouraging users to understand the “why” behind their investments. Stash also offers fractional shares, so users can invest in stocks with as little as $5.

Features: Personalized investment recommendations, banking services, fractional shares, access to retirement accounts.
Educational Tools: Comprehensive educational content covering finance and investing basics.
Fees: Plans start at $3/month; premium plans with additional perks are available at higher rates.

4. Public

Best for: Social Investing

Public adds a social element to investing by allowing users to see and discuss trades and investment strategies with other investors. This social aspect makes it ideal for beginners who want to learn from others and share insights. Public also offers commission-free trading and the ability to buy fractional shares.

Features: Commission-free trades, fractional shares, community-driven insights, access to stocks, ETFs, and crypto.
Educational Tools: Community-driven discussions, educational content, and real-time insights from other investors.
Fees: No trading fees; optional tips to support the platform.

5. Betterment

Best for: Robo-Advisor Experience

Betterment is an automated investing platform that offers personalized portfolios based on user goals and risk tolerance. This robo-advisor is perfect for beginners who prefer a hands-off approach to investing. Betterment’s low-cost portfolio management and goal-oriented approach make it ideal for users focused on long-term wealth building.

Features: Goal-based investing, tax-loss harvesting, automated portfolio rebalancing, retirement planning tools.
Educational Tools: Financial planning and educational resources.
Fees: 0.25% annual management fee for digital plan; 0.40% for premium plan with additional financial advice.

6. SoFi Invest

Best for: All-in-One Financial Solution

SoFi Invest is part of the larger SoFi financial ecosystem, which includes loans, banking, and insurance products. This app offers both active and automated investing options, so beginners can choose based on their preference. SoFi also provides access to fractional shares, crypto, and a range of educational resources.

Features: Commission-free trades, automated investing, crypto trading, fractional shares, access to IPOs, banking options.
Educational Tools: A variety of educational resources and community events.
Fees: No fees for trading; no annual fees for automated investing.

7. M1 Finance

Best for: Customizable Portfolio Management

M1 Finance combines the flexibility of self-directed trading with the ease of automated investing. Users can create and customize their portfolios (referred to as “Pies”), while M1 handles the trading and rebalancing. This flexibility makes it suitable for beginners who want to experiment with different portfolio strategies without being hands-on daily.

Features: Customizable portfolios, automated rebalancing, access to stocks and ETFs, fractional shares, retirement accounts.
Educational Tools: Limited educational content, with a focus on portfolio customization.
Fees: Free for basic accounts; M1 Plus membership costs $125/year, offering additional perks.

8. Fidelity Investments

Best for: Research and Educational Resources

While Fidelity offers a more traditional brokerage experience, its app is accessible to beginners and includes extensive research tools and educational resources. Fidelity’s no-fee index funds and zero-commission stock trades make it a great option for new investors looking for a reliable and affordable platform.

Features: Commission-free stock and ETF trading, no-fee index funds, extensive research tools, retirement planning.
Educational Tools: Comprehensive educational content, webinars, and tutorials.
Fees: No fees for most trades; some managed accounts and funds may have fees.

9. Webull

Best for: Active Beginners

Webull is suitable for beginners interested in active trading and learning about advanced trading tools. The app offers commission-free trades, a suite of analysis tools, and access to extended trading hours. While it’s more complex than some other apps, Webull’s resources make it a good option for beginners eager to learn about technical analysis.

Features: Commission-free trades, extended trading hours, real-time market data, access to crypto.
Educational Tools: Paper trading, educational content, and community forums.
Fees: No fees for trades; fees may apply to margin accounts and advanced features.

10. Ellevest

Best for: Women-Focused Investing

Ellevest is a robo-advisor designed to meet the financial needs of women, though it’s open to everyone. It tailors investment strategies based on unique goals like retirement and building wealth. Ellevest also offers educational content and career coaching, making it ideal for beginners who want a supportive, goal-oriented investing experience.

Features: Goal-based investing, retirement planning, career coaching, personalized financial plans.
Educational Tools: Extensive content focused on financial planning and literacy.
Fees: Monthly subscription plans starting at $5/month.

Final Thoughts

Each of these apps brings something unique to the table, making investing accessible and tailored to beginners’ needs. For those looking to dip their toes in investing without a steep learning curve, Robinhood and Acorns offer user-friendly experiences with minimal fees. If you’re seeking a comprehensive platform with educational resources, Fidelity and SoFi are excellent choices. Lastly, Betterment and Ellevest offer goal-oriented investing, which can be ideal for users focused on long-term wealth building.