If you’re new to the best stock investing app, it can feel intimidating to research and select stocks on your own. A good investment app for beginners should offer a user-friendly interface and basic education resources to get you started. In addition, it should also allow you to trade a variety of securities.
A good example is Robinhood, a popular app that offers commission-free trading for stocks, ETFs, and options, as well as cryptocurrencies, and ADRs. The platform is easy to use, has a low account minimum, and provides valuable educational resources. However, it doesn’t offer support for IRAs or other types of accounts.
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Other popular investment apps for beginners include Firstrade, which is a little less high-tech but offers competitive pricing and investing tools. Its mobile app is simple to navigate, and it allows you to place orders online or by phone. It also offers a range of research and third-party analysis. Another option is TD Ameritrade, which has an intuitive app and robust thinkorswim platform for more active investors. However, its managed portfolios may not appeal to beginner investors.
Other options for beginner investors include Public, a social investing app that connects with your bank account to invest “micro-investments” from your paycheck. Users can follow other investors on the platform, learn from their experience, and share their own discoveries. Acorns is another unique solution that caters to those who prefer a hands-off approach by automatically investing small amounts into the market over time.