Best Investment Apps of 2023
Investment apps help you manage your investments in the financial market. Most of them offer amazing services at affordable fees, which saves investors a lot of money in the long run.
Now you don’t have to call your stockbroker to trade. You can do it with a few taps on the screen. All things considered, here are the best investment apps in 2023.
TD Ameritrade: Best Overall
Many investors in the U.S are familiar with TD Ameritrade—a large brokerage firm. Its app is the best compared to all others because it has a wide range of options and is great for beginners and pros alike. The default app is ideal for intermediate and beginner traders. The professional-level one is more suited for experts.
The benefits you will enjoy include commission-free ETF and stock trades and zero-base fee option trades.
Key Features
- Name of apps: TD Ameritrade Mobile and thinkorswim
- No minimum deposit
- Investments types: bonds, mutual funds, ETFs, options, stocks and much more
- Account types: different account types including education, retirement and standard
Pros
- For experts and beginners
- Advanced trading platform has no extra fees
Cons
- Schwab is acquiring TD Ameritrade
Fidelity: Runner-Up
This one offers extensive resources for investors with long-term goals. The mobile app can be used with Google Assistant and Apple Watch.
Key Features
- Name of app: Fidelity Investments
- No minimum deposit.
- Investment types: fractional share investing, mutual funds, ETFs, stocks, etc.
- Account types: education accounts, retirement, brokerage, etc.
Pros
- Fractional share investing
- Lots of mobile app features
- Most account types are supported
Cons
- Phone trades are charged a $12.95 fee
Ally: Suitable for Beginners
The platform is easy to use and they don’t have a minimum required balance.
Key Features
- Name of app: Ally
- No minimum deposit
- Investment types: mutual funds, bonds, options, ETFs, stocks, etc.
- Account types: self-directed and managed portfolios
- No physical location
Pros
- Investing and banking in one app
- Forex trading app
Cons
- Limited features on mobile app
Webull: Best Free
This one is relatively new but its mobile app is nothing short of impressive.
Key Features
- Name of app: Webull: Stocks, Options & ETFs
- No minimum deposit
- Investment types: cryptocurrencies, options, ETFs and stocks
- Account types: IRA and brokerage accounts
Pros
- Community area
- Paper trading
- Advanced charting features
Cons
- Additional subscription for real-time data streams
- Limited investment types
Acorns: Ideal for Automated Investment
Acorns is really fun to use but its fees are a bit high.
Key Features
- Name of app: Acorns: Invest Spare Change
- No minimum deposit
- Investment types: bond ETF and stock fractional share investing
- Account types: checking accounts, retirement, robo-advisor brokerage
Pros
- Simple, automated micro-investing
- Gamified app experience
Cons
- Monthly fee for all accounts
SoFi: Ideal for Learning
If you want to start small and have access to investment education, try SoFi.
Key Features
- Name of app: SoFi Invest Money & Buy Crypto
- $1 minimum deposit
- Investment types: cryptocurrencies, ETFs and stocks
- Account types: cryptocurrency, retirement and self-directed and managed portfolios
Pros
- Fractional share investing
- Member events
Cons
- Lack of advanced research tools
- Limited investment assets
