What does it mean to invest your money? Well, there are many ways you can invest your money. The stock market, bonds, REITs, Real estate, and more. Fortunately, smartphones and apps have made this endeavor very easy. This list includes the best apps to effectively invest with.
1. Acorns
Acorns is the most unique platform on this list. This intuitive app allows you to invest your spare change! For example, if you buy coffee that costs $2.50, Acorns will change that price to $3 and reinvest the added 50 cents. So if you're not good with voluntarily saving your money, this app will do all the hard work for you.
If you love this free service, you can opt for a small monthly fee that gives you access to diversified portfolios, automatic rebalancing, investment support from their dedicated support team, a personal retirement savings plan, and a debit card that saves/invests automatically for you. You can start with as little as $5!
2. Robinhood
In terms of simplicity, Robinhood may take the cake. It offers a clean user interface that's easy to learn. The best part is this app is completely free. There's no minimum investment required. These perks make this app perfect for beginners looking to get their feet wet in investing.
Additionally, you can opt for the paid version which offers several useful tools. The free version will get anyone by until they're ready for some serious trading. With a news section, expert recommendations, a cash management system, and fractional shares, Robinhood is a solid app to become an investor with.
3. Stash
Stash is the most beginner-friendly (new investor) app on this list. this platform makes it a priority to educate all its users; to create a confident and comfortable investing experience. It's also home to plenty of education.
There are numerous ETS, and hundreds of individual stocks to choose from! It costs just $5 to open an account and an annual fee anywhere from $1 to $9 depending on the type of account. Lastly, Stash offers a saving and investing program that allows setting an automated schedule; which helps you effectively save and earn money.
4. WeBull
WeBull is a close competitor to Robinhood. This app capitalizes in some areas its competition is lacking. For starters, this platform is completely commission-free. With WeBull you have access to countless individual stocks, ETFs, and ADRs, and options!
There is also a 24/7 customer support, no minimum deposit, and full pre/ after-market trading. Webull offers two types of accounts: Margin and Cash. Fun fact: Webull launched its app in 2018, henceforth its relatively recent release comes with promotions if you decide to trade with them.
5. E*trade
E*Trade is the platform that has it all. In terms of features, E*Trade has all the other platforms in this list beat. In-depth analysis, news feeds, education, live support, and more. There are several different account types offered for specific purposes.
It's because of all these features why the application process is a bit lengthy. The extensive application is great because it determines the type of experience you will have while using this platform. Thus, E*Trade is perfect for the experienced investor looking for the complete package.
Investing in the stock market will always be an excellent alternative to money sitting in a traditional savings account. Listed above are some of the best platforms anyone can use to tap into this market. Not only do these apps allow you to invest from the palm of your hand, but most of them also allow you to do so commission free! Go to your app store and take advantage of these gold mines.