Want to start investing but don’t know where to begin? It’s easy to feel intimidated by the stock and trade market. However, for millennial and gen-z investors, there are various app-based programs worth exploring. Depending on your level of background and future goals, we’re going to help you find the best app to start investing on your own and carve a path to financial freedom.
Stash: Best Education for Beginners
Suppose you’re looking for an opportunity to learn more about the financial industry and invest in fractional shares of stocks, bonds and ETFs (Exchange Traded Fund). In that case, Stash is a great app that provides beginner users with all the resources they need to get started. From regular blog content to quizzes, challenges, personalized support and an ongoing podcast, users have a wide variety of information at their fingertips to start learning.
Acorns: Best for Automatic Investing
This app’s unconventional and effortless nature has made it an instant favorite among gen-z and millennial investors. Acorns links a credit or debit card to your investment account. Then, the app rounds up all purchases to the next dollar and puts the difference toward an ETF portfolio. Therefore, you can save and invest effortlessly with this new method of automated financial planning.
Robinhood: Best Free Trading
A clean user experience and simple process make Robinhood an excellent app for beginner investors. If you’re short on initial capital, this platform allows users to trade ETFs, cryptocurrency and trade stocks for free.
Webull: Best for Advanced Data
If you’ve gotten your feet wet with a few investment apps, you’ll start to realize the value of accurate data and analysis to help you make smart decisions. Webull provides real-time data dashboards with insights to forecast industry changes and predict the next opportunity.
Betterment: Best Digital Financial Advisor
The cost of hiring a financial advisor out-of-pocket can be expensive. If you’re not ready to commit to IRL support, you can leverage the Betterment’s digital advisor option. Robo-advisors are available 24/7 to help you design and manage your portfolio. This is a perfect, low-cost and low-management solution to starting your investment journey.
Ally Invest: Best for Banking and Investing
You might recognize Ally for their banking and loan management platform, but they also offer comprehensive investment tools to their users. The platform has all the core features of a basic trading platform without becoming overwhelming. If you’re looking for basic investment options and a banking provider all in one, the Ally mobile app is best suited for you.
Stockpile: Best for Sharing with Friends
Have you ever run out of gift ideas for your friends or family members? You’re not alone, but we’ve got you covered for next Christmas. Stockpile offers the option to give the gift of stocks and help your loved ones diversify their financial portfolio. In addition, the app also allows the purchase of fractional shares, meaning users may be able to buy a portion of a more expensive stock option.
Fidelity: Best Long-Term Investment
For the individual looking to improve their retirement-focused financial portfolio, the Fidelity app integrates with your existing Google and Apple products for a seamless, integrated experience. Retirement calculators and educational tools will help you create a plan for your future and set investment goals to match your ambition.
Best App to Start Investing: The Bottom Line
Investing for millennials and gen-z doesn’t have to be complicated. To find the best app to start investing, take inventory of what you already know, what you want to learn and what long-term goals you have. Based on this information, select the right application and invest away! Financial freedom is closer than you may think.