6 Best Investing And Trading Apps For Beginners

Image by GettyImages; Illustration by Bankrate

It’s never been easier to get started investing, thanks to an array of online brokers and robo-advisors that offer easy access to financial markets on your phone. The best investing apps for beginners simplify the process of picking stocks and exchange-traded funds (ETFs) to help you build an investment portfolio.

These six investing apps stand out for making trading easy, and offering helpful portfolio management services and educational resources.

Best investing apps for beginners to start trading online

Charles Schwab

Charles Schwab is one of the best online brokers, and its app has plenty to offer beginners. You’ll get low-cost trading, access to fractional share investing (which allows investors on a limited budget to purchase less than a full share of a stock or fund), along with a deep well of research and educational resources that new investors will find useful. Plus, Schwab has some of the best customer support around with specialized support for specific products as well as service via phone and live chat.

Key features

• Commission-free trades on stocks and ETFs
• Fractional shares
• Includes access to watch lists, news and charting functionality
• Top-notch customer service

Robinhood

Robinhood’s streamlined mobile app — and commission-free trades on stocks, ETFs, options and crypto — opened up the world of investing for the mobile-first crowd. The platform is easy to use and supports fractional share investing in stocks and ETFs, which makes it popular with beginners, who often start with smaller sums.

Key features

• Commission-free trades on stocks, ETFs, options and crypto
• App’s interface is easy to navigate
• Trade orders are simple to place
• Basic stock research pages provide key metrics

Webull

Often mentioned in the same breath as Robinhood, Webull’s mobile app offers a comprehensive lineup of features many investors will appreciate. Commission-free trading extends beyond stocks and ETFs to include options. And you can open an account with no minimum deposit. For investors who want to try their hand at trading more exotic fare, Webull also offers futures and crypto.

Key features

• Commission-free trades on stocks, ETFs and options
• 24/5 trading
• Competitive interest rates on cash account
• Advanced charting tools

Fidelity Investments

Fidelity Investments has one of the best financial platforms around and can handle just about anything a typical investor is looking to do. You’ll get low-cost trading, access to various retirement accounts, thousands of no-transaction-fee mutual funds and access to its low-cost, highly-rated robo-advisor, Fidelity Go. Fidelity is a great choice for investors looking to keep most of their financial life with one firm.

Key features

• No commissions on stock and ETF trades
• Many different types of accounts available
• Research and education on ETFs, mutual funds and many personal finance topics
• Customer support is among the industry’s best

Betterment

Betterment is one of the best robo-advisors and is a good fit for investors who want an investment portfolio to be managed automatically. The app builds a portfolio based on your goals and risk tolerance using ETFs. There is a 0.25% annual management fee if you have a balance of at least $24,000 or at least $200 per month in recurring deposits. For those with balances below $24,000 and less than $200 monthly recurring deposits, the fee is $5 per month. This is less than what you’d probably pay for a traditional financial advisor.

Key features

• Low-cost portfolio management
• Tax-loss harvesting
• High-yielding cash management account
• Access to human advisors at premium tier

Wealthfront

Wealthfront is another top choice for those looking for a robo-advisor to manage a portfolio, but also a place to serve as command central for your other investing and banking needs. Wealthfront portfolios are built using low-cost ETFs and include features such as tax-loss harvesting and automatic rebalancing for a 0.25% annual management fee. Beyond automated portfolio management, it also offers commission-free stock and ETF trading, and a feature-rich cash management account (with checking, bill-pay, fee-free ATM access and more) that earned the top spot in the Bankrate Awards.

Key features

• Low-cost portfolio management
• Tax-loss harvesting
• Robust cash management account
• Broad investment offering

How to decide which investment app is right for you

When choosing which investment app is best for you as someone just getting started, you’ll want to think about your primary needs when it comes to investing. Are you looking to trade stocks and ETFs on your own or do you need help building a portfolio?

Those looking to trade frequently should pay attention to costs and which securities are available in a given app. If you’re looking for help building a portfolio, you’ll want to find a robo-advisor to work with.

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

— Bankrate’s Dayana Yochim contributed to an update of this article.