Here are the 7 best investment apps for beginners in February 2023:
- Acorns: Acorns is a micro-investing app that allows you to invest your spare change automatically. It’s a great way to get started with investing if you don’t have a lot of money to start with.
- Betterment: Betterment is a robo-advisor that creates and manages a diversified investment portfolio for you based on your risk tolerance and financial goals. It’s a good option for beginners who don’t want to have to pick their own investments.
- Fidelity Go: Fidelity Go is a robo-advisor that is similar to Betterment, but it is offered by Fidelity Investments. Fidelity Go is a good option for beginners who are already familiar with Fidelity Investments.
- M1 Finance: M1 Finance is a unique investment platform that allows you to build and invest in custom pies, which are baskets of stocks and ETFs. M1 Finance is a good option for beginners who want more control over their investments.
- Robinhood: Robinhood is a popular investment app that offers commission-free trading on stocks, ETFs, and options. Robinhood is a good option for beginners who want to trade actively, but it’s important to note that Robinhood has been criticized for its lack of educational resources and customer support.
- SoFi Invest: SoFi Invest is an investment app that offers a variety of features, including commission-free trading, fractional shares, and automatic investing. SoFi Invest is a good option for beginners who want a well-rounded investment experience.
- Stash: Stash is an investment app that allows you to invest in themed investment baskets called Smart Portfolios. Stash also offers educational resources and tools to help you learn about investing. Stash is a good option for beginners who want a fun and engaging way to learn about investing.
It’s important to note that there is no one-size-fits-all answer to the question of which investment app is best for beginners. The best investment app for you will depend on your individual needs and preferences. Be sure to compare the different investment apps available before choosing one.
Here are some tips for choosing the best investment app for beginners:
- Consider your investment goals. What do you want to achieve with your investments? Do you want to save for retirement, buy a house, or start a business? Once you know your investment goals, you can choose an investment app that can help you achieve them.
- Consider your risk tolerance. How much risk are you comfortable with? If you’re a beginner, it’s generally best to start with a low-risk investment strategy.
- Consider the fees. Some investment apps charge fees for trading, account maintenance, and other services. Be sure to compare the fees charged by different investment apps before choosing one.
- Consider the ease of use. Some investment apps are more user-friendly than others. If you’re a beginner, it’s important to choose an investment app that is easy to use and understand.
Once you’ve chosen an investment app, be sure to do your research before investing in any specific security. And remember, investing is a long-term game. Don’t expect to get rich quick.