Top 15 Apps for Beginner and Everyday Investors

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by Adedamola Bada · 8 min read
Top 15 Apps for Beginner and Everyday Investors
Photo: Depositphotos

Investment apps and platforms represent a great way to generate income for future purposes and choosing the right one will help prevent heavy losses on your capital.

Investing in a new business idea or venture seemed like a rigorous process some year back. Back then, you had to employ the services of a financial advisor to seek guidance on what best to put your money in and then hopefully wait until the quarterly report of the organization you invested in announces profits. Nowadays, several platforms and investment apps can be used to invest wisely. These applications are designed to monitor the progress of your stocks, trade your portfolio, and see similar trends from several other stocks.

These apps also provide money transfer features so the need to include a broker or financial advisor in your dealings is reduced to a minimum. Here are 15 different investment tools for everyday investors:

Round

This is a great investment tool for large capital management

Round‘s state of the art investment platform and app makes use of a series of questionnaires to develop a profile for its users and provide several options for investing. The firm is currently affiliated with other investment companies like Guggenheim Partners, Gabelli, and Doubleline to provide high-grade investment plans to prospective investors.

Round’s fund managers often diversify investments into mergers, real estate, and several other financial securities while charging 0.5% monthly to manage your funds regardless of the amount put in. In cases where losses are experienced at the end of a quarter, the organization forgoes its management fees

Robinhood

Robinhood is a great investment tool for individual capital management.

Robinhood provides an avenue for investors who are comfortable managing their investments themselves to do so efficiently while also cutting out commissions and management fees. This feature makes it one of the best investment apps out there as it is different from the generic applications out there. While this is a very good app, it also has its downsides; the app doesn’t provide long term investments for retirees, and as such all investments are tax-deductible which may be quite troubling for long term schemes.

Acorns

This platform provides great investment plans for students.

While the student populace doesn’t offer much in individual capital for investment, Acorns offers to manage college students’ allowances and funds at no cost. The firm offers round-ups on any purchases from a linked credit card and adds the loose change to the investment account when it sums up to about $5. The firm also offers a debit card that saves money while earning at the same time thereby offering financial stability to everyone for as low as $5 to begin.

E*Trade

E*Trade is a great investment tool for data analysts.

The E*Trade power app provides its independent investors with a wide variety of offerings in financial securities such as bonds, currencies, debentures, stocks, and options with adequate research and data on the best securities to invest in. The app also provides an extensive investment history and graphical data of annual revenues of organizations, shareholder dividends, and analysis on their marginal rate as well as equity ratio.

While their information system seems impressive, their commissions are much more expensive, compared to other investment apps at around $7 per trade. It may seem unreasonable to pay so much for a single trade but the application is equipped with educational tools to help new investors develop minimal risk portfolios and provide experts with much-advanced options for investment.

Stash

Stash offers banking features with its investment tool.

Stash is a great investment tool for newbies because it provides a premium all-in-one package for its users at $3 monthly. This includes bank features, brokerage, and retirement portfolios. The app also offers an extra package that includes the ability to operate two accounts, frequent investment analysis, bigger returns on investment and a bigger debit car limit all for 9$ monthly.

TD Ameritrade

TD Ameritrade offers the best customer service for investors:

This investment app operates on a commission per trade basis for about $6.95 which is a bit on the high end and offers its options at an extra $0.75 and it doesn’t have a minimum start-up capital which makes it frequently used and a competitor in the industry.

Many investors choose to pay for their expensive commissions because their customer service is accessible over calls, texts, or over the internet. Their customers can also walk into any of their branches and receive support on the best stocks, currencies, and assets to purchase.

Stockpile

Stockpile is the best investment tool for Parents.

The vision of the CEO who wanted to provide a substantial investment and future for his nephews and nieces aligns with most parents as it allows them to purchase stocks using gift cards. This is a great way for parents to get their children excited about investing by using birthday and holiday gift cards to buy investment stocks for their future although their management fees may be a bit costly.

Gift cards are converted to cash by the company and are managed for an initial fee of about $2.99 while subsequently managed at 99 cents which is the same price for a standard investment. One downside to this platform is that it does not publish its balance sheets and as such, it limits growth projection.

Clink

Clink helps investors cut back on excessive spending.

Clink is an investment app that helps users limit their spending and save a particular amount within a time frame. The app works by allowing you to transfer a portion of your credit limit monthly to your account or making a request to your bank to transfer a certain amount to your clink account on a time frame set by you. The app is great for beginners as no commission or minimum deposit is required. The investment firm makes its money through donations from ETF sponsors which is a major asset to them.

Wealthfront

Wealthfront is the best-automated investment app.

Wealthfront invests in dormant stocks and collects about 0.25% of your investment as its commission fees. Its automotive system provides options for daily minimal losses to cut back incurred taxes on investment gains and these losses are minimal for daily investment managers with this system becoming a trend with automated apps.

While this app is similar to many others in its category, it doesn’t provide extra bonuses to large investors and does not deal with its portfolios fractionally with its minimum fee at $500. It however offers some perks such as minimal risk to six-figure accounts.

Personal Capital

Personal Capital is great for human customer service.

Personal capital is great for high-end investors with its minimum investment starting at a whopping $100,000 and it offers great saving tools for its investors. Some of the perks of this service are that its investors are offered expert financial planners and are aided with automated systems to help make wise investments.

While its commissions are fixed at 0.89%, bigger investors are allowed to pay as low as 0.40% while also getting special financial advisors to manage their investment. Users also get a savings account with an interest rate of 2.3%, retirement, and financial planning analysis tools.

M1 Finance

M1 Finance is a highly effective data security investment tool:

M1 seems to be a “one in all’’ and ‘’all in one’’ investment tool with a wide variety of offerings as such, it is impossible to classify. It has a number of uses that allow brokers to arrange transactions and also manage funds while offering automated investing and individual capital management.

Like every other app, it also has some snags and this may be disturbing for large investors as the app doesn’t allow for losses on capital gains to minimize the taxes. It however manages funds at no cost and investors can invest any amount.

Ally Invest

Ally invest provides a wide variety of services for new and professional investors. Its resources which help align investment structures come at a very cheap rate, this makes it a great investment tool with exciting offers.

Ally Invest is also regarded as one of the best investment tools because it has a lot of exciting bonuses for its users: Investing up to $10,000 guarantees a $50 bonus and free trades for 3 months. Investments above $10,000 increase bonuses to about $3500.

Betterment

Betterment mainly focuses on socially responsible firms for investment.

Betterment targets people who like to invest in socially responsible firms and their index score currently 42% among several holdings. This app also holds ETFs as one of its primary assets for stock trading. While the firm currently manages $15 billion it has diversified its offerings into two to support different investors.

Its Betterment digital allows investors to use its services for 0.25% of their investment capital in commissions and its Betterment Premium plan starts at $100,000 with a 0.15% increase in the management fee. Its premium plan also provides unlimited support for its users

Vanguard

Vanguard is one of the cheapest investment tools to use.

While Vanguard is one of the oldest investment apps around, it is quite cheap and doesn’t require a certain amount to start investing although the app may seem quite bogus and confusing to use which is why many opt for newer tools for buying financial securities. It currently generates incomes from its ETF’s which investors can buy into. Check the top 10 Vanguard funds for new investors here.

Twine

Twine is great for couples who want to invest.

This investment tool is great for couples who are planning a wedding, summer trip, or buying a home as it helps them invest their savings while still keeping their individual accounts. While their management is quite similar to their fellow competitors, they also offer several investment structures and financial securities which include; bonds, stocks, and assets in its ETFs.

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