An effective investment app provides beginners with a solid start in investing. It features trading amenities, research content and analysis tailored to all kinds of investors – as well as low or commission-free trading capabilities.
Plynk is one of the premier investment apps for beginners, offering dollar-cost averaging to reduce market risk while also offering pre-built portfolios.
Acorns
Acorns is an app designed to make investing your spare change easy. Registration includes answering a series of questions about your career, net worth and goals in order to generate an investment recommendation and set up regular deposits into your investment account balance.
This passive investing service costs $3 a month and uses an algorithm to recommend a portfolio consisting of low-cost exchange-traded funds from iShares and Vanguard that invest in large, small, international stocks as well as bonds. Furthermore, Round Ups automatically invests any spare change from purchases made on linked credit and debit cards.
Betterment
Betterment is a fantastic choice for novice investors looking to start investing through automated investing platforms. Betterment asks you to set goals and suggests portfolio recommendations based on those goals, providing educational resources as well as low fees – plus it provides both high yield savings accounts and checking accounts!
This robo-advisor uses Modern Portfolio Theory to customize portfolios tailored specifically for your goals and risk tolerance, with daily rebalancing to minimize tax losses. However, Wealthfront does offer direct indexing that reduces taxes by decreasing capital gains realization rates; and asset location which moves investments to accounts with lower tax rates.
Fidelity
Fidelity offers an expansive array of investment products and services designed to meet the needs of every investor from novices to advanced traders, from beginners to experts alike. Their user-friendly web trading platforms and robust research tools boast low commissions and fees while their commitment to security includes 2-factor authentication, voice biometrics, security text alerts and money transfer lockdowns – features which all add an additional layer of protection.
At its learning center, there is easily digestible content in article, video and webinar form that is also life stage planning tools for marriage/divorce planning, starting a business and paying college costs.
This platform boasts an excellent mobile experience and customizable dashboard, featuring real-time quotes and the ability to access balances, watch lists and ideas without logging in.
Fundrise
Fundrise is a real estate investment platform tailored to non-accredited investors, featuring affordable buy-ins and pre-vetted deals. Fundrise’s founders possess deep expertise in real estate markets; their goal is to open them up to everyday people.
Website and mobile app navigation is intuitive, while features such as auto-invest and dividend reinvesting are user-friendly.
Fundrise offers investors multiple property investment strategies and provides access to an eREIT portfolio or residential property fund – both of which feature low minimum investments. Furthermore, Fundrise features an impressive investor education section as well as an industry-leading podcast for their convenience.
Crypto exchanges
Cryptocurrency exchanges enable buyers and sellers to exchange digital assets, providing buyers with instantaneous matches of buyers with sellers in both decentralized or centralized marketplaces. Some exchanges even support fiat currency as assets.
Crypto trading apps must abide by KYC standards since they deal with money transactions. To do so, they should integrate a customer verification API which verifies user identities and prevent money laundering.
A reliable cryptocurrency exchange app must offer high levels of security, offering an effortless onboarding process for new users and providing an interactive customer support channel, to ensure all queries are promptly resolved.
