- Webull Crypto allows you to buy and sell cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
- Zero-commission fees with 24/7 hour trading availability.
- $1 minimum balance.
Promotion: New to Webull? Open a brokerage account and make an initial deposit of $100 or more. Receive 2 FREE stocks valued up to $1850.
- Wealthsimple Invest helps you align your values with socially responsible investments through diversified and low-cost ETFs.
- No minimum balance, robo-advice, and access to financial advisors. Basic features include auto-deposits, auto-rebalance, and dividend reinvesting.
- Get a free portfolio analysis of your existing non-Wealthsimple portfolios.
- CollegeBacker helps you invest in a 529 college savings plan in 5 minutes.
- Get advice on the best low-cost funds, grow tax-free, and withdraw tax-free for educational related expenses.
- Create a gifting page for your child and get your family and friends involved.
- Blooom is a unique service helping you manage your employer-sponsored retirement plans no matter where you work or where the plan is held.
- Get a free analysis of your 401(k), 457, 403(b), and 401(a) and select IRAs and learn about your asset allocation and fees.
- No account minimums to sign-up.
- Acorns Early is a simple way to invest in your child’s future with a UTMA/UGMA account that lets parents, guardians, or family members create a custodial account for a child.
- Get started with just $5 and set up recurring daily, weekly or monthly investments.
- Atom Finance provides a modern investment research platform that empowers you to make informed investment decisions.
- Investment research tools you need in one platform, including institutional-quality resources that were once only available to Wall Street professionals.
- Join for free and simple signup.
- Stash Invest is part of a robust financial app that includes a checking and debit card, retirement, and custodial accounts for children.
- Get no commission trades and invest in stocks, ETFs, and fractional shares for as little as $1.
- Use a bank account with no hidden fees and get paid 2 days earlier.
Promotion: Get $5 for signing up and depositing at least $5.
- Public is a compelling brokerage app for the novice investor looking to build a portfolio for long-term growth.
- Invest in stocks and ETFs with $0 trading fees and no account minimums.
- Best for newbies with minimal understanding of the stock market and with limited funds.
- Acorns Invest is a micro-savings app that helps you invest your spare change from everyday purchases through Round-Ups.
- Accounts including general investing, retirement, checking and debit card, and custodial accounts for children.
- Best for beginners and those seeking an integrated financial app centered on investing.
Acorns Promotion: $5 signup bonus after first deposit.
- M1 Finance’s Invest is a Robo-advisor investment platform ideal for DIY investors. It offers automated investing, expert portfolios, and customization.
- Choose your portfolio of stocks, fractional shares of stock, ETFs.
- $0 account minimum. 100% commission-free trades and no hidden fees.
- Stockpile is an online brokerage enabling investors to buy shares or fractional shares of stocks, ETFs, ADRs, and every stock in the S&P 500.
- Free sign up, 99¢ per trade with no monthly fees or minimums.
- Stock gift cards available for purchase as gifts to others.
- Kiva crowdfunds loans by unlocking capital for the underserved.
- Lend as little as $25 and be part of the solution to make a difference in someone’s life. You do not earn interest on loans.
- 100% of every dollar you lend goes to funding loans.
- Coin Invest backed by John Hancock offers customers eight impact areas to invest in with as little as $50.
- A conscious investing platform that invests your money in companies making a difference and manages the portfolio for you.
- Ideal for medium- to long-term investing outside of your retirement plan.
- FutureAdvisor is an online investment robo-advisor that automatically manages your investments.
- Manage investments holistically by linking external accounts to ensure each account’s benefits (tax deferrals or flexible investment options) are maximized.
What is investing?
Investing is the act of committing money to an endeavor with the expectation of earning additional income or profit. There are a number of ways you can invest such as stocks, bonds, index funds, mutual funds, real estate, or your own business. There are many pros and cons to investing but depending on your risk tolerance one may be a better fit for you. Learn more about the basics of investing.
Investment Account Types
Probably the two most common types of investment accounts are retirement accounts in the form of either IRAs or variations of the 401k and traditional brokerage accounts. But there are a few others that can be used for specified purposes.
How to Find Best Investing Apps
Your portfolio is basically the total amount of investments you have in one or more investment account. To get started with a portfolio, answer the following three questions:
1. What kind of investment account do you want to open?
2. Where do you plan to open that account?
3. How much risk can you handle?
Each type of investment account, whether it’s a 401k plan, IRA, standard brokerage account, college savings 529 plan, or health savings account (HSA) will have its advantages and disadvantages.
Where you open your investment account matters because different brokerages will require different investment minimums, charge different fees, and allow for different investments in the account.
You also need to know how much risk you can handle because stocks, bonds, mutual funds, ETFs, and other securities have different risks associated with market movements.
What are Discount Online Brokerages?
A discount online brokerage is often associated with companies like Charles Schwab and Ally Invest. A discount broker is a stockbroker that performs buy and sell orders at a reduced commission rate.
Most discount brokers operate using online platforms and mobile apps without the need to directly engage with a stockbroker.
Recently, most stock trading is now commission-free offered by the likes of Robinhood (who started the trend).
What are Micro-investing Apps?
Micro-investing apps help people accumulate investments in a small incremental way. Some apps allow investors to start with as little as $1 to buy a fraction of shares or ETFs (exchange-traded funds). The goal behind micro-investing is to open the stock market to people who may not have hundreds or thousands of dollars to get started.
What are Robo Advisors?
A robo-advisor is distinct from the other platform as it offers guided advice through an investment philosophy and proprietary algorithms.
A robo-advisor app gives smaller investors access to advisory services that were typically only offered to high net-worth individuals. These platforms offer you the opportunity to invest smaller amounts and pay lower fees compared to traditional investment advisors.