15 Best Investment Apps In 2020

Eager to know about the 15 best investment apps in 2020? This article would give you a sound insight. So, let’s take you for a ride!

best investment apps

Are you a beginner or new investor or you are an experienced investor? Whatever be the case, it is necessary to use investment apps because it allows you to manage your investments in the stock and other financial markets.

Getting the best investment app you can use is critical and with a variety of them out there it can get very challenging in choosing the right one for you; but using the best app would help you save money as an investor and improve your portfolio.

With just your smart-phone at hand, you can access these investment apps with ease. Getting them, at a relatively low cost or for free, and trade instantly unlike when you had to call a stockbroker to make a trade for you which would make you pay a steep commission.

In this article, we would be revealing 15 investment apps we consider the best in 2020 after reviewing and considering many apps for ease of use, investment options, cost, and other important factors.

Let’s get started;…

Best Investment Apps in 2020

The fifteen (15) best apps for investment in 2020 are:

Robinhood

This is the best investment app for beginners who would like to put their money to play, invest in crypto-currencies as well as stock options. The sign-up process is free and upon registration, the user is awarded a free stock. When you refer a friend, as a registered user this will earn you another stock. In this app, you can earn up to about $500 just by referring and growing the app. Cool right?…

Well that’s not all, below are other amazing features of this stock investing app:

  • Instant deposits
  • No commissions on trades
  • Notifications to keep you updated
  • You can trade crypto-currencies with instant settlement.. among other features.

So, if you are a new investor and want an easy to use app that can manage all your assets with a minimum investment, then, Robinhood is a better fit.

Acorns

This is also very easy to use the app and since you do not need any investment experience to use it. It would be nice for new investors. Acorns app can invest your money for you while doubling as a savings tool for your extra income. This is how it works; it rounds up everyday purchases on your linked credit or debit card to the nearest dollar and transfers the remaining balance to your Acorns account. This balance can now be invested in your preferred Acorns investment portfolio.

Let’s make it easier;

Acorns round-up money to the nearest dollar that is, money gotten from everyday purchase as you use the card linked to your account, the app then keeps track of the money until the total comes up to $5 which after that, it invests the money into Exchange Trade Funds–ETFs.

Features of this investing app include:

  • You can invest as little as $5
  • You get a $1 monthly fee for a balance under $1 million
  • Automated investment
  • There are about 7000 stocks and bonds to invest through ETFs
  • It lets you save for retirement with it’s “Later feature”
  • It gives access to the Acorns Spend debit card.

Stash

This is the best investment app for DIY(Do It Yourself) investors whose investment decisions are based on weeks of research. Stash lets you automate amounts that would be invested either weekly or monthly to either the 150 ETFs or individual stocks that it associates with. It also recommends guides that can further embolden your financial know-how. $5 is the minimum, account balance requirements are fixed at.

Features of this wealth management app are:

  • It allows a retirement account
  • It requires no investment fee for stocks
  • No fee is required for inactivity and outgoing transfers
  • Account subscription is fixed at $1
  • For ETFs, expense ratios are 0.30%

Td Ameritrade

This app works well for both beginners and experts, thanks to its range of options. It can be set to “default”  TD Ameritrade mobile for beginners to intermediate investors whereas, experts can set theirs to the professional level; thinkorswim, and this brings wall street-style charts to your mobile device. TD Ameritrade requires no commission on stock and ETF trades.

Features include:

  • No minimum deposit is required
  • No commission for the online stock, option trades, and ETF.

E*Trade

Expert investors might find this app intriguing. E*Trade allows trading securities, like stocks, mutual funds, ETFs, and options. Beginners can also use the app. The charts and Stock analysis they serve are in-depth.

Features of this investment management app include:

  • There is no minimum account balance
  • It gives free ETF trades
  • Base commissions on option trades are not required
  • It has a 24/7 active customer support
  • There is no transaction fee
  • There are 3 platforms for trading E*Trade such as web, power E*Trade, and E*Trade pro.

Charles Schwab

This is one of the best investment apps for banking. Customers that are authenticated can deposit checks, make investments, and transfer money with the same user interface. To manage portfolio through this investment app, you can log in to your amazon fire devices, if you don’t want to use android and iOS. With the Charles Schwab app, you can even pay your bills.

Features of this investing tracking app include:

  • Zero minimum account allowed
  • No required inactivity or annual fee
  • No base commission required
  • Round the clock customer support
  • Provides free and in-depth research

Trade Hero

For students, we would say this is the best investment app. This allows gamers to stake $100,000 virtual money. You can put theories to test and see how it would go without the risk of loss. With a “LIVE” added feature, you can stake real money. It allows you to learn from other trade but would require about $1.99/month to access.

Features of this app that enables investment learning include:

  • It is free
  • Has real-time market simulation
  • Allows long-only investments
  • It places trades on 14 exchanges

Trade Hero is a good starting point for setting crucial fundamentals of investment right.

Stockpile

This app is considered as one of the best investment apps for parents. As a new user you get $5 to invest in cryptocurrencies like Bitcoin via stockpiles ETF and with stockpiles’ “stock as a gift card feature”, you might end up gifting something that will continue to grow in value.

The best investment features of this trading app include;

  • Requires low commissions on trades
  • Buying shares for Gift cards
  • Has custodial accounts
  • Has over 1000 stocks

Round

This is among the best investment apps, suitable for institutional investors and investing. It re-introduces the ‘human’ in broking. Wealth managers who seek to outperform average market returns, partners with the parent company. If the trade makes a profit, they charge a fixed 0.5% management fee irrespective of the account size, but this charge is waived if the trade ends up being a loss.

Features of this app;

  • $5 minimum account threshold
  • Allows invest in corporate bonds, large-company stocks, real estate
  • It has a user-friendly interface
  • Has customized insights from top-end managers
  • Have SIPC secured accounts of up to $500,000?

Wealthfront

This has best-automated wealth management and is the best investment app for Robotics lovers. Wealthfront was developed in 2011 and it’s assets under management have grown to about $21 billion. This app allocates your capital to a pool of ETFs as per your risk tolerances using the Modern Portfolio Theory.

Features of the app include:

  • You need just $1 to open a cash account
  • Has free accounts under $5,000
  • Has risk parity options
  • It has free financial planning guidance
  • Fund transfer is secured with 2FA

Fundraise

This is one of the best investment apps for real estate investment. If your area of expertise is restricted to industries with limited access, but grants promoting access for investment like estate then, Fundraise is a better fit for an investment app for private real estate.

This app is one of the best apps to invest money in private markets and has the following features;

  • $500 minimum investment
  • It gives reduced costs to investors
  • Individual Retirement Account–IRA($75 annually)
  • It requires a 0.85% annual asset management fee
  • It requires a 0.15% annual advisory fee

Vanguard

For ETF maximization, this is one of the best investment apps. For customers, they lead their contemporaries in refining ETF alternatives. The app is streamlined in investment design towards Called Position Trading that is, buying and holding a stock for longer periods. Investors bear reduced expense ratios and this investment management app has 1800 ETFs to choose from with no online transaction fees required.

Features of this app include:

  • Minimum fund of $1000
  • No fees for account closure, transfers, or inactivity is required
  • Has customer support
  • Possesses free research
  • Has 3000+commission free mutual funds

Wealthsimple

WEALTHSIMPLE has a ‘refer to a friend’ feature, which allows newly registered users to have their first $10,000 managed for free. As a top investing app, its auto-pilot features are programmed to pinpoint precision. It is your automated financial planner.

Features include:

  • Stock Trading is commission-free
  • It has an easy on-boarding process
  • It has ‘halal’ investment for Islamics
  • Management fee of 0.25%
  • Zero account minimums
  • For balance up to $1 million, CIPF protection is used.

This app has about 175,000 people in its platform trusting services having $5 billion AUM worth.

Ally Invest

Ally Invest is known for its high-yield, low-fee brokerage with no fees for the stock, options trades, or ETF. No minimum balance is required and it is a simple and easy-to-use investment platform, thus allows beginners to use the app.  This app covers basic trading and investing needs and you can easily log into the Ally website for more experience.

Features include:

  • Requires no minimum deposit
  • Zero commission fees for the online stock, ETF, and option trades
  • Supports investments like stocks, options, bonds, ETFs, mutual funds, etc.
  • It supports self-directed and managed portfolios.

The last on the list is;

Fidelity

This is a top-brokerage app, with extensive resources for retirement-focused and long term investors. You can access some of the best education and research resources available amongst brokerages with a fidelity account. It offers a few of its mutual funds with no transaction or recurring fee.

Features include:

  • Requires no minimum deposit
  • Zero commission fees on stock, ETF, and options trade.
  • It supports brokerage, education accounts, and retirement.

 

With this list of the best investment apps, you can sleep while your portfolio makes money for you.

Feel free to leave a comment below;…

 

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