It’s never been easier to start investing in the stock market. This is thanks in large part to the growing popularity of finance and online stock apps. These apps are ideal for young investors looking to take charge of their own portfolios without the hassle of working with a human broker.
There are countless perks to using an investment app.
Apps eliminate many of the barriers that typically discourage new investors by allowing users to start accounts with little to no fees. Additionally, they offer a user-friendly platform that is ideal for beginners. However, more seasoned investors will still enjoy the many benefits an app will offer such as the advantage of having their portfolio at their fingertips. As a result, this allows them to buy and trade stocks from anywhere and as often as they please.
Finding financial success in stock trading can be overwhelming in the sense that it requires traders to stay up-to-date on market conditions. Additionally, it will include navigation of complicated charts and statistics. Investment apps are designed to help simplify this process and limit confusion. Because of these apps, anyone can start trading stocks, bonds, and securities online, even with little experience.
10 Recommended Online Stock Apps for Young Investors
Some of the top financial publications, such as Benzinga, have solid best stock app lists that. You can check out that deep dive into these apps.
However, here are the ones that have stood out to me as I’ve reviewed these major lists. Likewise, I have looked at the ones that are most valuable to young investors.
Robinhood takes the complexity out of stock trading. Consequently, the app boasts 13 million users and is continuing to grow every day. Its streamlined platform is extremely beginner-friendly and offers commission-free trading of stocks, options, and cryptocurrency. Additionally, users pay zero dollars in fees and there are no account minimums. This makes Robinhood an attractive choice for young investors looking to dip their toes into stock trading.
Mint is an amazing tool for tracking all of your savings. It is an all-encompassing personal finance app that offers a plethora of tools to help users achieve their financial goals. Likewise, Mint’s investment tracker manages users’ portfolios and helps them stay on top of their investments. As a result, this app is a great option for someone looking for a cohesive personal finance app that allows them to track their investment portfolio and finances together.
MooMoo is an ideal mobile trading app for both beginners and advanced investors alike. It offers an in-app discussion community designed for users to engage and learn from one another. Similarly, it offers many of the same functions and benefits as other investment apps, including commission-free trading and minimal fees.
SoFi Active Invest is a great choice for less-experienced investors. It offers commission-free trading of stocks and funds, crypto trading, and fractional shares of blue-chip companies. The app also offers free financial counseling and access to educational materials for all of its users.
YNAB is a fully functional personal finance app that is equipped with capabilities such as organized budget planning, digital money management, and financial goal-setting. Keen investors use this app to view their investments alongside their other finances in a centralized location. This app is ideal for those looking to manage their money and are looking for a platform in which they can organize their finances and expenditures.
Truebill is a money management app designed for those who want to garner a deep understanding of their finances. It helps users see where their money is going and where it’s coming from. This app is ideal for investors who want to manage their finances in a user-friendly platform that is available anytime and anywhere.
Prism is a personal finance app that specializes in allowing users to manage multiple accounts in one place. The app offers an all-in-one experience for users to pay bills, manage due dates, and view a financial calendar that spells out each expenditure on each day of the month. It’s most commonly used to organize multiple accounts and allows users a comprehensive view of their monthly expenses in one app.
Acorns is an investing app that offers unique tools including a spare-change savings program and cash-back rewards. It offers low fees of $3-$5 per month to start investing and users enjoy a generally hands-free experience. Acorns is known for its automated savings program which takes spare change from purchases on linked accounts and invests it into your portfolio. This app is a great choice for less active investors.
TD Ameritrade is a great app for investors looking to diversify their portfolio with a wide variety of investment options including stocks, bonds and CDs, options, non-proprietary mutual funds, futures, forex, commission-free ETFs, and more. This app is an excellent choice for both beginner and experienced investors because it offers no account minimums and access to useful materials including market research and data.
Gemini is a cryptocurrency trading app that offers users access to buy and sell over 50 cryptocurrencies. It is unique in that it is available in every U.S. state. Additionally, it offers insurance protection against potentially impending cybersecurity threats. The app is comprised of different platforms that cater to both beginners and more advanced investors.
A Personal Finance and Investment App for Every Need
It doesn’t matter whether you are a young investor or a seasoned veteran. There is an app available that is sure to satisfy your needs.
The uptick in popularity of personal finance and investment apps has led to the development of innovative solutions that allow investment information to be available at the drop of a hat.
It’s no secret that investing involves a certain level of risk, but the use of one of these apps is sure to give investors confidence in knowing that their portfolio and personal finances are accessible at all times.