Best Investment Apps of 2023 (Ultimate Comparison)
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What’s your excuse for not investing in stocks, ETFs, real estate, and crypto?
54% of Americans say they don’t invest because they don’t earn enough money to invest. What’s your excuse?
If you choose the best investment app, all you need to start investing is $5 to $50.
This is the ultimate guide to the best investment apps that give you access to thousands of stocks from companies you love.
Most of these investment apps have low-to-zero fees and easy-to-use interfaces. M1 Finance, Robinhood, Webull, DEGIRO are great examples.
In this in-depth guide, you’ll discover:
- What the best investment apps are
- What an investing app is
- What to consider when choosing an investing app
- How to avoid paying ‘hidden’ fees
- The benefits of using investment apps to find, invest, and profit.
- And lots more…
If you’re ready, let’s get started.Post Contents
What Are The Best Investments Apps?
Here are my top picks for the best investments apps for 2023:
- M1 Finance – The best overall investment app.
- Robinhood – A popular investment app with zero commissions.
- Webull – A better investment app with smart trading tools.
- SoFi Invest – A solid investing app for legal US residents.
- Charles Schwab
- Interactive Brokers
- DEGIRO – The best investing app in Europe.
- Stash App
- Ally Invest
- Fidelity Investments
Alright, let’s dive right in. Here’s a breakdown of the 21 best investment apps of 2023:
1. M1 Finance
Best overall investment app
M1 Finance lets you manage your money with ease. The M1 Finance investment app offers an advanced level of customization.
This low-cost Robo-advisor for self-directed investors will let you set up automated transfers, portfolio rebalancing, and fund selection.
If you prefer, you can even pay for premium features such as goal planning and financial calculators.
There are no hidden fees or commissions, so you can invest completely for free.
- Customizable investing with zero commission
- Access credits at just 3.5% interest with M1 Borrow
- Free digital checking: Get 1% APY with M1 Plus
- Earn up to 10% cashback when you use Owner’s Rewards Card
- Build long-term wealth with Custodial accounts
- It’s easy to use and navigate
- You’ll not be charged any commissions
- No account management fees
- It allows fractional share trading
- Get access to banking and loans via the app
- No tax-loss harvesting
- No access to human advisors
- Only available to US citizens / residents
M1 Finance Fees
M1 Finance have 4 different financial plans. Let’s break them down:
- Invest: Smart transfers, Custodial accounts, $0 trading commissions
- Borrow: You’ll be charged a 2% interest rate, 3.5% without M1 Plus, no application, pay whenever you want, $2,000 balance minimum, etc.
- Spend: Checking: 1% APY, 1% cashboack, 4 monthly ATM fee reimbursements, 0% international fees, etc.
- Spend: Credit: $95 fee waived for members, earn 1.5% to 10% cashback, Visa Signature, and more.
|Commission Fees||$0.00 (misc fees may apply)|
|Interest paid of cash balances||1% (for M1 Plus users only)|
Best investment app with zero commissions
Robinhood is a commission-free investment app. The Robinhood investment app can be used to invest in stocks, bonds, mutual funds and crypto.
Robinhood is only available to US residents / citizens. You can access your Robinhood account in almost all countries, with the exception of Cuba, Iran, North Korea, Syria, and the Crimea region of Ukraine.
If you’re new to investing, a Robinhood investment app is an excellent way to start.
It offers a simple, streamlined interface and no commission trading, and it has a website interface as well.
- Invest in 5,000+ stocks (starting with $1)
- Customize your portfolio with different companies and funds
- Trade shares in real-time to maximize profit
- Manage your investments on the go with the mobile app
- Earn 0.30% APY on your deposits
- Fast and fully digital account opening
- Get 1 free stock after linking your bank account (keep or sell it after 2 trading days)
- Easy-to-use mobile and web trading platforms
- Zero commissions for accounts that trade US-listed securities
- It supports cryptocurrency trading
- The commission-free trading doesn’t apply to every trader
- No retirement accounts
- Mutual funds and bonds are not supported by the app
- Only available for US citizens / residents
Robinhood Fees & Pricing
|Maintenance Fees||0% (no fees are charged to open, close, or maintain a brokerage account)|
|Card Replacement Fee||Robinhood doesn’t charge to replace a stolen, lost, or damaged card. They’ll mail you a new one for free|
|Minimum Deposit Amount||$0|
|Trading Activity Fee||$0.000130 per share (equity sells) and $0.00218 per contract (options sells). or $6.49 which is based on the execution of the order and it can happen in multiple parts.|
It’s free to sign up for a standard Robinhood account. That said, Robinhood also has a premium Gold plan, which cost $5 per month.
With Robinhood Gold you’ll get access to research reports and advanced market data, get bigger instant deposits, and borrow money at a 2.5% interest rate if eligible.
Best investment app with smart trading tools
Webull simplifies the complex process involved with investing in stocks, trading, and general investments.
The Webull investment app is a new way to trade stocks.
It offers commission-free brokerage accounts with no minimum balance requirements, no trading fees, and 2 free stocks worth up to $3,000.
As an added incentive, the Webull app will credit both your account and your friend’s account with a ‘reward’ stock each time they sign up for an account.
- Invest in 1,000s of companies (start with $5)
- Easy-to-use trading tools to create your own portfolio
- Diversify your portfolio with stocks, fractional shares, ETFs, options, and ADRs
- Buy and sell securities and assets with Individual Brokerage Accounts
- It’s an intuitive and easy-to-use app
- Trade popular cryptocurrencies (BTC, ETH, LTC, DOGE, SHIB, etc.)
- Commission-free trading on U.S.-listed stocks, ETFs, and options
- Get 2 free stocks when you signup and connect your bank account
- No minimum deposit or annual fees
- It lacks automated investment tools as Robinhood does
- It doesn’t allow joint brokerage accounts
- Mutual funds, fixed income securities, and bonds are not supported
- Only available to US citizens / residents
Webull charges $0.00 commissions on stocks, ETFs and options listed on U.S. exchanges.
However, some regulatory agencies still charge fees, some of which are passed from the broker-dealer to clients and are regarded as a pass-through transaction.
4. SoFi Invest
Best investment app for US residents
SoFi’s investment app is easy to use and provides a simple way to invest in stocks and other assets.
You can choose to start investing with $1, and you can adjust your risk tolerance if you want.
SoFi is short for “Social Finance.”
The mobile app is free, and it is available on both Android and iOS devices.
It also allows you to track your investments and make real-time updates, so you can be on the go while you are at work.
- No account or management fees
- Active or automated investing
- Access to cryptocurrency
- Complimentary access to Certified Financial Planners (CFPs)
- Invest in fractional shares of company stock
- No minimum to start investing
- Zero trading and account setup fees
- Access to Certified Financial Planners at no extra cost
- Trade cryptocurrencies, including BTC, ETH, and other digital assets
- It’s not available globally (only to U.S. residents)
- Stop-loss orders are not allowed
SoFi Invest Fees
|Cryptocurrency Trading Fees||1.25%|
|Account Minimum||$0 (start investing with $1)|
|Annual Transfer Fee||$75 full outgoing transfer fee.|
5. Charles Schwab
Best all-in-one investment plan
Charles Schwab offers an excellent investment app for investors on the go.
The app offers many features, such as free stock trading and IRA deposits.
It also has two Robo-advisor services, which are used to build, monitor, and automatically rebalance a diversified portfolio based on your goals.
You can download this app for your iPhone or Android device.
For first-timers, the Charles Schwab investment app offers an “investor’s portfolio,” which lets you invest a single share of a particular stock.
- Invest in and trade stocks, ETF, and options
- Access to Robo-advisor: a premium service that guides your investment actions
- An intuitive mobile app to track your investment on the go
- Invest in cryptocurrency stocks (Coinbase, Square, PayPal, Silvergate Capital)
- The app is easy to use
- Commission-free stock, options, and ETF trades
- FDIC insurance cover of up to $250,000
- Enjoy the benefits of Individual, Joint, and IRA accounts
- Navigating the website is hard, too many bells & whistles
- A low-interest rate of 0.05% APY is a turnoff for investors
Charles Schwab Fees
|Trading Fees||$0 (zero commissions on online trades)|
|Account & Trade Minimums||$0 (no trade minimums, no account minimums)|
|Options||$0 online base commission + $0.65 per contract fee|
|US Over-The-Counter (OTC) Equities||$6.95|
|Schwab Mutual Fund OneSource||$0 + $25 service charge for Broker-Assisted Trades|
What Are Investment Apps?
Investment apps provide easy access to market data, trade options, and portfolio tracking.
These mobile apps are a great tool for new investors, but even experienced investors can benefit from the ease and convenience of these apps.
You can access your account through a smartphone or tablet, and you don’t need to worry about losing your cash or getting confused.
You may decide to invest for the short term or long-term. So it’s important to select the right app for your needs.
What to Look for When Choosing an Investment App?
Here are the 5 key factors to consider when choosing an investment app:
1. Micro-investing app
Micro-investing offers a quick and smart way to start investing in the stock market.
This time, though, you’ll invest small amounts regularly. There’s no excuse why you shouldn’t start with any amount you have or as they say the “Spare Change” that you have.
You’ll find the best micro-investing app out there that will allow you to sign up for free and start investing with as little as $5.
2. Mobile device support
You should go everywhere the stock market goes. The easiest way to do so is by picking investment apps that will allow you to install their mobile app on your iPhone or Android devices.
Reliable and popular investment apps supports both iOS and Android devices, so you can download and use them on your mobile device without any hassle.
3. Educational resources
If you’re just getting started with stock and crypto investing, you need to continually learn new things. Even expert traders aren’t exempted from learning.
So look for investment apps that provide educational resources about the stock market, investing insights, technology, and tips & tricks that can help you become a better investor.
4. Options trading app
Investing in options can be profitable but confusing at the same time. You need to be able to do it hands-free.
Options are derivative securities, which means they got their value from the price movements of the underlying asset.
You’ll need a good options trading app to get ahead quickly, get real-time data about the target assets, and guide your next steps.
5. Low fees
We’re all looking out for discounts, free shipping, and low fees. It has now become a part of our being.
You should look for investment apps and platforms that offer low fees.
You’ll find investment apps that offer flat rate for all types of investors. Don’t be in haste, research the app thoroughly before you sign up.
Benefits of Using Investment Apps
Here are the 5 reasons why you should consider using investment apps:
1. Simple to use
The best investments apps are easy to use and provide useful resources.
In addition to letting you set your own investing goals, most offer educational resources and third-party research.
Investing apps are easy to use and connect you with a broker. These apps are designed to allow you to invest in a range of securities, which allows you to control your portfolio’s performance.
They also offer an option for you to invest only in ETFs, so you don’t have to choose between different stocks.
2. Convenient trading tools
While stockbrokers charge high fees, investment apps are a great way to avoid this.
They give you all the convenience of trading stocks and mutual funds right from your smartphone.
Many investment apps are free or low-cost.
Robinhood is a popular investing app. It keeps day trading simple by offering no account minimum and no trading fees.
The app also offers a variety of assets. Unlike other investment apps, it’s free to download, and its free version lets you trade all kinds of assets without incurring any commissions.
3. Secure your funds
Investment apps can provide you with advice on choosing stocks, choosing an account type, and more.
They can also provide you with security tips and recommendations.
Using an app to manage your investments gives you the freedom to invest whenever you want.
And many investment apps are free or inexpensive.
There are several security measures you can take to secure your funds in investment apps.
You must choose a strong password that is difficult for anyone to guess.
It must contain capital letters, symbols, and numbers, and it should not include any dictionary words or other personal information.
4. Low fees on small accounts
It’s no secret that investing is expensive, but there are ways to avoid paying high fees.
Some investing apps are free to download and offer zero-commission trades, meaning you don’t have to pay any brokerage fees.
Others require you to pay management fees or expense ratios to invest in mutual funds.
Well-known investing apps typically offer exchange-traded funds as their default investment, which is a low-cost passive investment.
5. Professional portfolio
Investment apps can help you to build your professional investment portfolio.
Whether it’s for short or long-term, you’ll have access to all of the tools and support you might need.
The Wealthfront app is a popular investment management application that keeps track of all your investments.
This app evaluates the performance of your portfolio and your risk management needs.
You can also check which assets are doing well and which are underperforming.
It will also show you which stocks are gaining and losing in comparison to the major market indices.
How Investment Apps Work
Investment apps are a convenient way to save for mid-term goals or an emergency fund.
While many financial advisors say that these types of apps should not be used for retirement savings, they do provide a good first step.
Most investment apps require you to link your bank account or debit card.
Most investment apps works by letting you fill out a survey. That way, the app will be able to determine your risk tolerance and financial goals.
Most investing apps offer a fractional share of stocks or bonds, which is a portion of an equity stock that is less than one full share.
You can also buy shares of ETFs in the app without having to visit a brokerage.
Some investment apps now uses Artificial Intelligence (AI) to help you identify patterns, and “decide your investment approach — which is an important step when investing in stocks,” says Matthew Frankel, CFP.
While investing in a traditional brokerage firm may take a few days, you can do it in as little as five minutes.
Investment apps also provide financial advice and educational resources. They can help you determine your risk appetite and get you started on your way to becoming a successful investor.
How to Choose The Best Investment App For You
Investing is one of the most popular ways to diversify your portfolio.
But, before you jump into the app market and invest in stocks and bonds, it’s crucial to choose the right app.
First, decide what kind of investor you are. Are you looking for a hands-free experience?
Or would you like to have your investments managed for you?
While a hands-off investing experience is ideal for many people, others might be better suited for an investment app that provides ongoing advice and guidance.
If you’re a beginner, try the Robinhood app. It has a clean user interface compared to some of the other apps, but it offers excellent features and commission-free US-listed stocks and other assets. It also gives you free stock when you successfully sign up.
Using investment apps can be beneficial for people who are new to investing.
Once you’ve download and installed the app on your smartphone, you can make trades instantly, and you won’t have to deal with stockbrokers.
Additionally, most of these apps offer educational resources and are free of charge.
The best investment app is one that gives you complete control over your finances.
So, if you’re a novice, consider these tips. You’ll be happier with your financial future with an investment app.
Investment Apps – FAQs
Here are some frequently asked questions about investment apps.
Investment apps allow users to save and invest money in small amounts. It may start off as using renowned ‘spare-change’ investing approach, however, you can grow your portfolio in the long term.
M1 Finance, Robinhood, WeBull, and Acorns are the best investment apps for beginners.
Invstr, Fundrise, Ally Invest, Robinhood, and M1 Finance are the best investment apps for 2023.
ETRADE, Charles Schwab, Interactive Brokers, Robinhood, and Vanguard are the most popular investment apps.
The best investment apps for kids are Stockpile and Ellevest.
Stash, Wealthbase, and Invstr are the best investment apps for crypto.
Ally Invest, Invstr, Wealthfront, Ellevest, Acorns, WeBull, and Charles Schwab are the best investment apps for Android.
Robinhood, SoFi Invest, M1 Finance, and Vanguard are the best investment apps for iOS.
Stockpile, Acorns, Stash, and Vanguard are the best apps for college students.
Fidelity Investments, Interactive Brokers, Acorns, and ETRADE are the best investment tracking apps.
M1 Finance, Robhinhood, Vanguard, Fundrise, and Interactive Brokers are the best investment portfolio apps.
SoFi, Invstr, Acorns, WeBull, Stockpile, and Wealthfront are the best investment apps for students.
Charles Schwab, Robinhood, E*TRADE, and Fidelity Investments are the best apps for penny stocks.
DEGIRO and Fidelity International are the best investment apps for Europe.
Saxo Bank, Questrade, TradeStation, and Passfolio are the best investment apps for non U.S. citizens.
SoFi, Acorns, Stockpile, and Stash App are the best investment apps for millennials.
Fundrise, Public, M1 Finance, and Interactive Brokers are the best investment apps for passive income.
It’s up to you. No matter how much money you earn, you can decide how much to invest each year based on your goals. Some investment apps allow you to start investing with minimum amounts of $10 – $100, so that’s a good place to start.
Some investing apps are easier to use, have useful features and tools, and they pay the best interest rates and low fees for transactions.
Yes, you can trade stocks with investment apps that have trading features.
In general, investing and trading are risky adventures. Your money isn’t insured, and you could lose some or all of your investment.
You can trade stocks, bonds, exchange-traded funds (ETFs), mutual funds, and in some cases even crypto assets.
Best Investing Apps – Summary
I wrote this complete guide to the best investment apps of 2023 to help you pick the perfect app.
The best investing app should be easy to use, secure, and fast.
You also want to be able to view all of your investments from the dashboard or with just a few mouse clicks.
Here are my final recommendations:
- M1 Finance – Best investment app overall.
- Robinhood – Best investing app with zero commissions.
- Webull – Best investment app with smart trading tools.
- SoFi –
- DEGIRO – Best investment app in Europe.
Now I’d like to turn it over to you:
What investment apps would you like to use to get started with investing?
Did I miss out on your favorite investment app?
Either way, let me know by leaving a quick comment below right now.
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