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Best Investment Apps for Beginners for July 2024

Review Updated
Matt Frankel, CFP®
Cole Tretheway
By: Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®
Writer, Analyst

Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.

See Full Bio

 and  Cole Tretheway
Cole Tretheway
Cole Tretheway

Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.

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Our Brokerages Experts

Eric McWhinnie
Check IconFact Checked Eric McWhinnie
Eric McWhinnie
Eric McWhinnie

Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

The best investment apps for beginners combine easy investing with low fees. The point is to make it easy to invest on the go, whenever you want. In 2024, you can do most of your investing from your phone. Read on for an expert list of our go-to investment apps.

We've highlighted a short list of investment apps for beginners below, in case you're short on time:

Our 6 Best Investment Apps for Beginners

Broker/Advisor Best For Commissions Next Steps
Award Icon 2024 Award Winner
SoFi Active Investing Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
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Best For:

Beginners

 Commission:

$0 for stocks, $0 for options contracts
Open Account for SoFi Active Investing
Robinhood Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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Best For:

Mobile Experience

 Commission:

$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold
Open Account for Robinhood
Stash Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Best For:

Low, All-in-One Fee Structure

 Commission:

None
Open Account for Stash
Acorns Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Best For:

Investing with Spare Change

 Commission:

$3-$12 monthly
Open Account for Acorns
Award Icon 2024 Award Winner
Betterment Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
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Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Hands-Off Investors

 Commission:

$0 per trade, management fee of $4 per month or 0.25% per year
Read Review
Cash App Investing Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Simple Stock Investing

 Commission:

$0 for stocks, fees vary for Bitcoin
Read Review
A note from our Head of Product Ratings, Robin Hartill, CFP®

When we researched online brokers to create this list of brokerages, some of the things we looked for were low costs, a variety of account types, and great customer service ratings. Everyone's investing journey is different, but I've found these three factors are important for anyone to have a great investing experience.

How do I choose a brokerage app for beginners?

Here's how to choose the perfect investment app:

SoFi Active Investing
Open Account for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Compare the best investment apps for beginners for July 2024

Ratings Methodology
Award Icon 2024 Award Winner
SoFi Active Investing

SoFi Active Investing

Open Account

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Makes it easy to buy and sell stocks on its app, and it has one of the best selections of cryptocurrencies offered by a non-crypto exchange. It is an all-in-one app. It has a great robo-advisory option and many other financial products, all in one place.

Fees:

$0 for stocks, $0 for options contracts

Account Minimum:

$0

Special Offer Circle with letter I in it. For new accounts: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.

Get up to $1,000 in stock when you fund a new Active Invest account.

Open Account for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Robinhood

Robinhood

Open Account

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Bottom Line

A great choice for people who want to keep fees at an absolute minimum. The app is easy to use. It's one of the few places where stocks, options, and crypto trade without commission.

Fees:

$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold

Account Minimum:

$0

Special Offer Circle with letter I in it. Earn a 1% bonus with no cap when you transfer your brokerage account to Robinhood, now through June 28, 2024. Terms apply.

Earn an uncapped bonus

Open Account for Robinhood

On Robinhood's Secure Website.

Stash

Stash

Open Account

Double arrow

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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= Poor
Bottom Line

An excellent way for newer investors to start to build a portfolio and learn about investing.

Fees:

None

Account Minimum:

$0

Open Account for Stash

On Stash's Secure Website.

Acorns

Acorns

Open Account

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

The simple, modern approach to investing helps people invest faster. Its fees are easy to understand and low. It is a good fit for hands-off investors who want to join the market but put their investments on cruise control.

Fees:

$3-$12 monthly

Account Minimum:

$0

Open Account for Acorns

On Acorns' Secure Website.

Award Icon 2024 Award Winner
Betterment

Betterment

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

A top-rated robo advisor with low fees for investments. It requires no minimum balance and gives you a high-yield cash management account. It offers features like tax-loss harvesting, which is typically limited to high-balance customers.

Fees:

$0 per trade, management fee of $4 per month or 0.25% per year

Account Minimum:

$0

Read Review
Cash App Investing

Cash App Investing

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Maybe the easiest place for new investors to buy and sell stocks (and trade Bitcoin). This app is great for sending money, too.

Fees:

$0 for stocks, fees vary for Bitcoin

Account Minimum:

$0

Read Review
Looking for an app for day trading?

If you're...

  • Not interested in day trading
  • Interested in day trading and other types of investing

...you're in the right spot!

If you're exclusively interested in day trading, head over to our Best Day Trading Platforms page.

Reviews of the best investment apps for beginners

Robinhood

Best investing app for beginners who: Seek an easy-to-use platform with low costs.

Robinhood was the first to offer a low-cost, beginner-friendly trading app. It is still one of the best in the business. Robinhood makes it easy for beginners to start buying and selling stocks. Newer investors can use fractional share trading to build diverse portfolios with little money. Robinhood also has one of the best cryptocurrency trading platforms.

Why beginning investors might love Robinhood

  • No commissions: Robinhood has no commissions. It's one of the few beginner investing apps that charges $0 for options or cryptocurrency trading. (Robinhood, like most investing apps, doesn't charge commissions on stock trading.)
  • Fractional share trading: Fractional shares let beginner investors build diversified portfolios with little money.
  • Cryptocurrencies: Robinhood has more than a dozen cryptocurrencies available on its platform. It's perfect for beginner investors getting started with crypto.

Why some beginning investors might not choose Robinhood

  • Membership: Some features require Robinhood Gold, a paid membership. Beginners may not be ready to commit to it..
  • Investment options: This app isn't for beginners who want to invest in mutual funds or bonds. Robinhood doesn't offer them.
  • Light on features: The Robinhood app lacks features. It only offers basic investment and account types. For example, it doesn't offer custodial accounts.

Read our full review of Robinhood.

SoFi Invest

Best investing app for beginners who: Want a one-stop-shop for managing their money.

SoFi is best-known for its loans and online bank accounts. But it also offers an excellent investment platform that could be great for beginners. In simple terms, SoFi offers a rare combo. It has an easy platform and lots of features. SoFi Invest lets users buy stocks and options, including new IPOs. It charges no commissions, making it accessible. Plus, SoFi helps beginners put investing on autopilot.

Why beginning investors might love SoFi Invest

  • Low-cost: It's low-cost. There are no trading commissions, even for options, and no account minimums. This is great for new investors who want to start small.
  • Fractional share trading: Fractional shares let beginners buy stocks with little money.
  • Great for learning: SoFi Invest is great for learning. It offers lots of educational resources compared to other apps. These resources can help investors become more skillful over time.
  • Robo-advisor: SoFi Automated Investing is a great platform for new investors. It offers a hands-off option.

Why some beginning investors might not choose SoFi Invest

  • Investment choices: Investment choices are limited. For example, SoFi Invest doesn't offer cryptocurrency trading.
  • Account types: Some account types aren't available. SoFi Invest offers basic individual investment accounts. It also offers traditional, Roth, and SEP IRAs.

Read our full review of SoFi Active Investing.

Acorns

Best investing app for beginners who: Want to make investing easy and automatic..

Acorns is a robo-advisor app that makes investing even easier than most. You can contribute to your Acorns account through direct transfers or Round-Ups. Round Ups round up your debit and credit card purchases to the nearest dollar and invest the difference. It makes saving small amounts easy and painless.

Why beginning investors might love Acorns

  • Easy to automate investing: Investing with Acorns is easy to automate. It allows new investors to make one-time and recurring contributions. You can also round up purchases and invest your spare change.
  • Top-rated app: Acorns' app is easy to navigate and set up, and it has high ratings on the App Store and Google Play store.
  • Easy investing options: Acorns has five investment options. They have easy-to-understand themes like "aggressive" and "moderately conservative."

Why some beginning investors might not choose Acorns

  • Pricing: Pricing is straightforward. We generally like Acorns' pricing: $3, $6, or $12 per month, based on the membership level. But it can be expensive for new investors.
  • No human advisors: Some robo-advisory apps offer access to human financial advisors, but Acorns isn't one of them. If you're a beginning investor who wants human guidance, you'll need to look elsewhere.

Read our full review of Acorns.

Betterment

Best investing app for beginners who: Want to automate investments with a feature-packed platform.

Betterment is an oldie but goodie, among the best. It has no minimum investment requirement. This is key for beginners who want to dip their toes into investing. It charges a low 0.25% management fee, so you won't have fees cutting into your gains. Standout features include a high-yield savings account and cryptocurrency portfolios.

Why beginning investors might love Betterment

  • Low-cost: Betterment is low-cost. It has no minimum investment requirement and a reasonable 0.25% fee. This amount could be seen as average. But we think it's a deal. This is because of the many features Betterment offers to beginning investors.
  • Cash management: Betterment helps with cash management. Its high-yield savings account rivals most online banks'.
  • Cryptocurrencies: Betterment is one of the few beginner-friendly apps that offers crypto. It's not for everyone, but if you're interested, it's a perk.

Why some beginning investors might not choose Betterment

  • Lack of human help: Lack of human help is an issue. You need a $100,000 balance to access a human financial advisor. You also need a premium membership, which comes with a much higher management fee. This might not be accessible to some beginning investors.
  • Only a robo-advisor: Betterment doesn't offer self-directed investing (you can't buy stocks). Look elsewhere to buy individual stocks.

Read our full review of Betterment.

Cash App Investing

Best investing app for beginners who: Want an easy-to-use platform to buy and sell stocks.

Cash App Investing offers its users the ability to buy and sell stocks and Bitcoin in the popular Cash App. It offers fractional share investing. This lets beginners build portfolios without much money. And there are no commissions. The main downside to Cash App Investing is that it lacks mutual funds, bonds, and other investments. It only offers stocks, ETFs, and Bitcoin.

Why beginning investors might love Cash App Investing

  • Easy to use: Cash App Investing makes it easy for new investors to buy and sell stocks. All it takes to get started is a couple of taps on your screen.
  • Functionality: The app lets you buy and sell stocks and Bitcoin. It connects easily with the popular Cash App platform.
  • Fractional share trading: Fractional shares let beginning investors build stock portfolios with little money.

Why some beginning investors might not choose Cash App Investing

  • Few investment choices: Cash App Investing only accommodates stocks, ETFs, and Bitcoin. You can't buy mutual funds or fixed income investments. You also can't buy many other types of securities that may appeal to beginners.
  • Light on features: It has few features. Cash App Investing offers basic tools for beginners. But it has far fewer than some of its rivals. 
  • Doesn't support IRA investing: Cash App Investing offers one type of investment account: a standard taxable brokerage account. Beginners who want to open an IRA for retirement will have to look elsewhere.

Read our full review of Cash App Investing.

Stash

Best investing app for beginners who: Want to get started buying stocks and could use some guidance.

Stash combines a robo-advisor and self-directed brokerage in one app. You can use Stash to automate your investing, to build a portfolio of stocks without much initial capital, or both. Stash offers regular (taxable) brokerage accounts, retirement accounts, and custodial accounts on its platform.

Why beginning investors might love Stash

  • Active and passive in one: Stash is a combination of a highly rated robo-advisor and a do-it-yourself broker all in one. It can be a great choice if you want to put some of your investing strategy on autopilot, while simultaneously building a portfolio of stocks and ETFs.
  • Fractional shares: Stash offers the ability to buy fractional shares of stocks and ETFs, which can allow you to start investing with relatively little upfront capital, and to create a diversified portfolio without having to be able to buy at least one share of each stock.
  • Great debit card: Stash offers the excellent Stock-Back® Card, which is a debit card that allows you to use the uninvested cash in your account to pay for purchases. Instead of earning cash back rewards, debit card purchases are rewarded with stock, either in the company where you make the purchase or in a default investment of your choice.

Why some beginning investors might not choose Stash

  • Monthly fees: Unlike most robo-advisors, Stash charges a monthly fee instead of a percentage of assets. These fees range from $3 to $9 per month. If you're just getting started and don't have a giant account balance, this can be a relatively high percentage of your portfolio that is being used to pay fees.
  • Doesn't pay interest on cash: Some competitors pay interest on uninvested cash, but Stash does not. To be fair, the Stock-Back® Card can be better than an interest-bearing cash management account, especially for those who don't maintain high cash balances.

Read our full review of Stash.

How to open a brokerage account for beginners?

You can get started with an investment app by opening a brokerage account online:

  1. Download the app on your mobile device. Search the app in your app store.
  2. Sign-up for an account. Have your personal information on hand.
  3. Deposit money into your account if necessary. Some robo-advisors only let you open an account if you deposit money right away.

Some apps let you create accounts on your computer. It may be easier to open an account on a bigger screen than your phone. Some apps offer limited-time brokerage bonuses. Check these out to earn cash for opening a new account.

How to get started on an investment app

Once you've created a brokerage account, you can dive right in to get started.

Put money in the market

When you're new, the first thing is to explore investments. The U.S. stock market offers thousands of investment options to choose from. If it's overwhelming, that's OK. You can start with small deposits. Many investment apps let you buy fractional shares for as little as $1.

Check out educational content

Many investment apps for beginners offer bite-sized educational content. Think three-minute articles or short YouTube videos. You can sometimes find these in your app. Or, you can check your app's online website or YouTube account.

Tweak your strategy

Practice investing to see what it's like. Notice when the market moves and how your investments fluctuate. Are your picks volatile? Do you feel OK watching your picks go up and down? If not, you may want to choose a more conservative investment strategy.

Conservative investment strategies vary. You might put most of your money in an ETF. Or, you might build a portfolio of 25 or more diversified stocks. The point is to keep your balance stable. That way, you stress less when the market makes big moves.

It's totally normal to tweak your strategy. You don't know what it's like to invest until you try. Even a small stake can vastly change your perspective of what it means to own shares or crypto.

Keep an eye out for fees

Watch out for fees you may have missed. If your investment app charges you a fee a month after opening an account, you may have been charged a monthly maintenance fee. If so, you may want to switch brokers. Many don't charge maintenance fees at all.

But some of the best robo-advisors charge low management fees. It's normal to see these hit your account. You may be charged monthly or yearly. Check your broker's fee schedule when in doubt. All the brokerage fees should be listed on its website.

Check in for the latest promos

Investment apps frequently offer promos. You may be able to get free stock for referring friends. Or, you may be able to earn a bonus for transferring money over from another brokerage. It's worth keeping an eye on. You may earn a little extra income -- hundreds of dollars worth.

What investments can I buy on an investment app?

Investment apps give you a variety of investing options.

You can buy stocks and ETFs

Investment apps typically let you buy stocks and ETFs. Some let you trade options and futures, though these are not beginner-friendly. Some let you trade cryptocurrencies like Bitcoin and Ethereum. Rarely, an investment app will let you trade mutual funds. If you want to trade more than stocks and ETFs, then filter out brokers that don't offer your preferred investment types. You probably want to do all your investing in one place. It's simpler.

You can open taxable brokerage accounts

Investment apps typically let you open taxable brokerage accounts, the standard account type for investing. But only some let you open traditional and Roth IRAs, good for retirement. Fewer still let you open other account types, including custodial accounts for kids and SEP IRAs for small business owners.

Online brokers offer more features

To buy other investments or open other account types, you may need to open an account with a brokerage that offers online or in-person access. Investment apps for beginners tend to be on the simpler side. Many online stock brokers let you trade other investments.

How much money do you need to start investing with an investment app?

The best investment apps let you start investing for as little as $1. Investment apps that offer fractional shares are the best for starting small. You can invest $1 to $5 in big-name stocks. It's an easy way to avoid breaking the bank.

You can typically open an account with $0, no minimum deposit required. There are some exceptions, though. You may need to deposit thousands of dollars to open a robo-advisory account with access to financial advisors.

Are investment apps safe for beginners?

Investment apps are safe for beginners and investors of all skill levels when they and partner banks are SIPC and FDIC insured. The Securities Investor Protection Corporation (SIPC) and Federal Deposit Insurance Corporation (FDIC) keep your deposits safe up to $250,000. So, if your investment app goes bankrupt, you'll get your money back up to that amount.

To be extra safe, you can spread investments out. You can do this by opening another brokerage account when your balance nears $250,000. Or, you can move some of your money into a bank account, a different account type. The FDIC and SIPC separate limits on accounts at different banks and brokerages. You can increase your $250,000 limit by splitting your investments across financial institutions. You mostly want to be sure your investment app is protected by the SIPC for securities and FDIC for uninvested cash. It's the safest way to guarantee you'll get your money back if something happens to the app.

What is an investment app for beginners?

An investment app for beginners is an app you can download and use on your cellphone or other devices that makes it easy to invest for cheap. The best of these are simple to use and charge low fees for buying and selling stocks and ETFs.

Our brokerage rating methodology

At The Motley Fool Ascent, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

See our full methodology here: Ratings Methodology

FAQs

  • Some investing app features that beginners may find useful include low minimum balance requirements, educational resources, and an easy-to-use platform.

  • First, decide whether you'd like to pick your own stocks or have a robo-advisor help you invest on autopilot. Then, look at investing apps to find one with minimum balance requirements you can meet. Finally, keep an eye out for investing apps with educational resources -- these can help you get started with investing and grow your skills over time.

Brokerages we evaluated for consideration on this page: Acorns, Ally Invest, Axos Self-Directed Trading, Betterment, Cash App Investing, Charles Schwab, Delphia, Domain Money, Ellevest, Empower, eToro Brokerage, E*TRADE Core Portfolios, E*TRADE, Fidelity, Fidelity Cash Management, Fidelity Go®, Firstrade, FOREX.com, Interactive Brokers, J.P. Morgan Self-Directed Investing, M1 Finance, Magnifi, Marcus Invest, Merrill Edge® Self-Directed, Moomoo, NinjaTrader, Personal Capital, Plynk, Prosperi Academy, Public, Robinhood, Rocket Dollar, Schwab Intelligent Portfolios, SoFi Active Investing, SoFi Automated Investing, Stash, Stockpile, Tastytrade, Titan, Tornado App, TradeStation, Tradier, Vanguard, Vanguard Digital Advisor®, Wealthfront, Webull, Zacks Trade.