The Best Investment Apps
No matter where you are on your investing journey, an investment app is an invaluable asset. These apps provide everything from automated investing services to educational resources – perfect if you are just getting started or seeking diversification!
Some apps are free, while others require you to invest a minimum amount before opening an account. Select one that best meets both your budget and investment goals.
Acorns
Acorns is a robo-advisor that invests your spare change, plus any contributions you make, into low-cost diversified ETFs. Their five portfolios range from conservative to aggressive and contain an assortment of real estate, government bonds, corporate bonds, large company stocks and other asset classes for optimal returns.
Acorns takes pride in regularly rebalancing your investments to help maximize returns, as well as offering convenient features like rounding purchases up or receiving lump sum transfers directly into your account from banks or brokerage firms.
This platform is available as a free download on both iOS and Android devices, and comes equipped with a built-in checking account which enables real-time rounding-up transactions instead of later, helping to save more money over time. Furthermore, its FDIC coverage of up to $250,000 gives you peace of mind knowing your funds are protected.
Betterment
Betterment offers a host of features, such as financial planning tools to make it simple to track your progress and manage your goals, as well as automated rebalancing and dividend reinvestment that keeps your portfolio on the path to achieving your financial objectives.
Rebalancing algorithms are one of the key features in any robo-advisor, helping ensure that investments remain on target with your goals and don’t miss out. Premium clients also get human financial advisors monitoring rebalancing and algorithmic changes for optimum performance.
Tax-loss harvesting is another key feature of robo-advisors that stands out, which involves automatically searching for assets you can sell at a loss in order to reduce taxes and save both time and money in the long run. It’s an effective tool for managing wealth that could save both time and money over time.
This app lets you connect your bank, savings and investment accounts to help it better understand how it can assist in meeting your financial goals. In addition, financial coaching sessions that include an in-depth examination of your finances may also be purchased at an additional fee.
M1 Finance
M1 Finance provides investors with an ideal combination of broker and robo-advisor features and portfolio solutions, catering to both active and passive investors alike.
M1 offers automatic dividend reinvestment (DRIP) at the portfolio level for faster compounding, as well as customized pie interface and zero fees – and can even invest your deposits when they reach a threshold you set!
M1 also makes it easy to rebalance your portfolio at any time with Dynamic Rebalancing, helping maintain target allocation by allocating new funds towards areas that may have fallen below target over time.
Webull
Webull offers the simplicity of Tinder-inspired investment apps with the sophisticated tools and features of traditional self-directed brokers, making it an excellent option for active traders seeking to submit complex orders, analyze market data and personalize their accounts.
Webull provides more free features than its rival Robinhood, such as access to a paper trading account and pre-market and after-hours trading. Plus, Webull allows investors to short sell stocks short while contributing towards an IRA account.
Research services provided by Webull include a stock screener, analyst ratings, price targets and company news. In addition, key financial data from companies is displayed graphically to allow investors to easily spot trends in profitability.
Webull offers Level 2 Advance through its partnership with NASDAQ to offer more in-depth market data, making this feature ideal for beginners as it gives a greater insight into how stocks are valued.
