There is a jungle of different investment apps out there, so how do you know which investment app is best and which one to choose? The choice depends on many factors, especially what level of knowledge you inherit. But also, what kinds of investments that you are interested in.
Below we have compiled a list of the investment apps that we believe are best in 2021. Apps that are dedicated to beginners as well as more advanced investors.
Invstr is definitely our favorite app when it comes to beginners’ apps. The fun thing about this app is that it is combined with a fantasy stock game, whereas you receive $1 million virtual money, which you can use to trade and diversify your portfolio. It is a great opportunity for those who have not tried out investments as much as they could have just yet. The app also gives new users $5 when they open and fund an account.
Another good investment app for beginners is Wealthbase, which offers a user-friendly investing app with lots of opportunities for stock traders. Wealthbase is also a social app since it allows users to see a feed with stocks that their friends are picking. On the app, you can pick stocks, ETFs, and cryptos to create your virtual portfolio. It is thus a great way to get started without having to use your own, real money.
For the more sophisticated traders, we have the investment app Wealthfront. Just as any other investment app you deposit money to get started, however, Wealthfront manages your portfolio to reach your goal once you have made your first deposit. The app offers stocks, some mutual funds, and ETFs, but not futures, options, forex, or bonds.
If you are a saver, Acorns is a great pick for you. You have probably heard of the app before, which is not to question – Acorn is one of the older investment apps on the market. The app’s interface is very user-friendly, and the transactions will be done smoothly. What is so great about Acorns is that it chooses your portfolio based on your time until your retirement. But also due to the simple fact that it shows you how to save and invest for your future.
As number 5 we have Betterment, one of the newest robo-advisors on the market. On this app, the investors are allowed to professionally manage their portfolio by a selection of ETFs. It is a much cheaper alternative to use Betterment than a traditional financial advisor. At the same time, you get an easy-to-use app that allows investments from your smartphone.
Last but not least we have one of the most talked-about names in the investment world, namely Robinhood. Robinhood allows investors from all over the world to trade stocks, ETFs, cryptocurrencies, and options on an easy-to-use app. All trading is done for free and there are no extra commissions for stock, ETF, options, or crypto trades.