The Best Investment Apps and Tools for New Investors

The Best Investment Apps and Tools for New Investors

Investing can provide one of the most fruitful means of wealth accumulation and financial security; but if you are just entering the field, it serves to be overwhelming. However, with the emergence of fintech, access to investment has become abundantly easier in the current pace of digital life. The various apps and tools, as they are requisite for modern investors, make it very comfortable for a new investor to easily lay down a portfolio, build, customize, and track the progress while also learning more about the markets.

Here is the diverse best of investment apps and tools ideal for new investors.

1. Robinhood: Simple Commission-Free Trading

Amongst the most popular investment, apps are Robinhood, especially for development beginners. It is unique because of its commission-free trade, customer-friendly nature, and starting at a meager sum-in fact, $1. So Robinhood has become one of the go-to apps for neophyte investors. It also grants access to stock, ETF, options, and even cryptocurrency. In addition, fractional shares offered by Robinhood means that you can invest in high-priced stocks, such as Tesla or Amazon, without having to spend on a whole share.

Although Robinhood is easy for new investors to use, it provides quite less educational content in comparison with other platforms. However, its simplicity and affordability make it one of the top apps for anyone who is just getting into the investing sphere.

2. Acorns: Invest With Your Spare Change

Being completely a trouble-free investment, Acorns automates the whole process. The app connects to the debit or credit card and rounds up purchases to the nearest dollar, investing that spare change into a diversified portfolio of ETFs. This whole “set it and forget it” model makes getting into investing very simple for beginners, as they do not have to worry about picking individual stocks.

Acorns has different portfolio options depending on an investor’s risk tolerance. It automatically alters the mix according to changes in the market. The app also imparts educational content in the “Grow” feature, explaining how its users can learn through investment and finance.

3. Stash: A One-stop Shop for Education and Investment

Where investment and education are concerned, Stash provides an amazing platform for a new investor that permits starting investment of as little as $5 and provides a full range of investing options from stocks, ETFs, and fractional shares. What makes Stash remarkable is the educational content, which teaches beginners all the concepts of investing, how to develop a diverse portfolio, and how important long-term financial planning.

Stash also features “Smart Portfolio,” which automatically manages your investments for you based on your goals and risk level. If you’re searching for an interface combining investment and learning tools, then Stash is certainly a very good option.

4. Wealthfront: Robo-Advisor with Low Fees

Among the leading robo-advisors, Wealthfront is most ideal for new investors seeking a hands-off approach in their investment journey. You can set your financial goals with it; then, it will create a diversified portfolio on your behalf. It will manage and rebalance your portfolio automatically according to the market condition and your financial objectives.

One of the major positives for Wealthfront is its extremely low fees: it charges only 0.25% in management fees per year, with no trading commissions or other hidden costs. The app also contains a set of tools, including retirement planning and college savings calculators that will help beginners create a big-picture financial plan.

5. M1 Finance: Customizable Robo-Advisor

M1 Finance combines the best of both worlds: the customization one might expect from any regular brokerage account, mixed with the automation expected from a robo-advisor. Investors using M1 can create a customized portfolio by individually selecting their investments or use an “Expert Pie,” a pre-defined portfolio based upon a specific strategy.

M1, because it automatically rebalances a portfolio and reinvests dividends, is an excellent choice for new investors who could want to build a long-term investment strategy. It is absolutely free to use, with no trading commission or management fees, thus cost-effective for beginners who look forward to investing in stocks.

6. Public: Social Investing

Public is unique in that it’s not only an investment app but runs a social networking service as well. You buy and sell stocks and ETFs, but what differentiates Public from the other apps is its social aspect-again. You can follow other investors, see other people’s portfolios, and talk strategies. So this provides a good launchpad for new investors to access shared learning.

Public makes it easy to trade for free and allows you to invest in fractional shares. The app boasts of educational content and resources through which you can make an informed decision while staying in touch with a peer-mentorship network of participating investors.

7. Betterment: Goals-Based Investing

Betterment is another best robo-advisor as it helps them in making a choice for particular financial aims. It utilizes your financial profile to design a customized portfolio of ETFs based on your risk tolerance and goals. The app does automatic portfolio management and rebalancing and provides a special tax-loss harvesting feature to cushion the portfolio.

Betterment charges just 0.25% as management fees for its digital service, so any new investors won’t part with much cash. The app is great for beginners who want a hands-off, goal-oriented investment approach.

8. Yahoo Finance: A Tracking and Research Tool

Although not an investment platform, Yahoo Finance is one of the most critical tools every serious investor should have in his armamentarium. It provides real-time quotes of shares, financial news, and deep analysis of every stock, hence great for new investors.

Yahoo Finance also allows you to create and track your portfolio, so you might as well observe your investments and how they have fared so far. In this regard, Yahoo Finance becomes an indispensable device in continuously updating one’s self with the prevailing markets and doing research before every investment decision one makes. If one wants to keep current with the market and do research before making investment decisions, Yahoo Finance must be utilized.