Amateur investing is in: more amateur investors are trading right now than ever before. The main reason for this is simple: there are a lot of great investing apps out there for newcomers and seasoned investors alike.
If you’ve been looking to break into the world of investing, apps are a great window into the market. There are so many great apps, though; how can anyone choose which app to use? That’s where we come in. Here are the three best investing apps for newcomers.
Far from a newcomer to the world of investment apps, Robinhood has a lot going for it in the crowded field. The app boasts some of the cleanest user interfaces we’ve yet seen for an investing app, making it ideal for newcomers who are still getting accustomed to the wrinkles of trading.
The best thing about Robinhood is that trading through the app is all free. You can trade stocks and cryptocurrency without paying for individual transactions like on some other platforms. The app’s simple design is a huge plus here, as it makes quick, smooth trading as easy as dragging-and-dropping.
This app is the best for newcomers who want something simple, with no frills or fees to distract them from the trading.
Acorns is a bit of a different app than the usual trading program. With this app, you put in your credit or debit card info, and then, after every purchase you make, Acorns rounds it off to the nearest dollar and invests the change it charges you. It starts at $1 per month, and you can set up more robust settings with “Acorns Personal,” for $3 per month.
For costs that low, a “set it and forget it” investing app is a pretty tempting offer. This is essentially worry-free retirement investing that could see you getting a lot of return without actually needing to keep track of anything.
Webull is a long-running service that is favored by many established retail traders. They’ve been around long enough to have a great reputation, and they offer trading for free on stocks and ETFs. They also don’t have any fees on their crypto trades, making this a great option for anyone looking to break into currencies like Bitcoin or Ethereum.
For those who prefer to trade at their computer, Webull also has a great desktop design. Essentially, if you’re looking for low-cost trading and a simple setup, then you’re looking for Webull.