Investing apps have grown in popularity for good reason: Just about anyone can get access to the stock market with just a few taps on their phone.
For beginners, investing apps offer an affordable, safe and secure way to start building wealth.
CNBC Select has chosen the top investing apps offered by robo-advisors, fintech start-ups, big banks and traditional brokerage firms. See our methodology for more information on how we chose our top picks.
Compare investing resources
Best for active investors: Robinhood
Who’s this for? Robinhood* was the first investing app to charge no commission for buying and selling stocks, prompting many other brokerages to follow suit. Like the other apps on our list, Robinhood* also has no minimum to open an account and users don’t need to reach a minimum to start investing, either.
Investors can easily make stock, options, ETF and cryptocurrency trades, but it doesn’t offer mutual funds and bonds, so you may need another investing app to better diversify your portfolio. You can access IPO shares through Robinhood*, as well as commission-free fractional shares.
Robinhood* offers investors free rein to completely build their own portfolio, so the platform is arguably best for active stock traders who have done their research and know a bit about how the market works. Newbie traders can get in on the action, but just be sure you’re comfortable with the risks.
Robinhood’s* app is available to download for free on both the App Store (for iOS), where it had 4.1/5 stars (and a whopping 3 million-plus reviews) at the time this article was published, and on Google Play (for Android), where it had 3.8/5 stars.
Robinhood
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account or to start investing
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Fees
Fees may vary depending on the investment vehicle selected. Commission-free trading; regulatory transaction fees and trading activity fees may apply
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Bonus
Get a free stock added to your brokerage account when you link your bank account and fulfill the promotion conditions (keep it or sell after 2 trading days)
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Investment vehicles
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Investment options
Stocks, ETFs, options, fractional shares, IPOs, and select cryptocurrencies Robinhood Crypto (availability varies by location)
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Educational resources
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Terms apply. *(Review Robinhood disclosures here.)
Pros
- $0 minimum deposit to open an account and start investing immediately
- Commission-free trading on stocks, ETFs, options and crypto
- Get a free stock just for linking your bank account
- Access to fractional shares (own a piece of stock for just $1)
- Beginner-friendly app with built-in educational content
Cons
- No human advisor or managed portfolio option
- Fees outside of commissions may apply
Best app for automated investing: Betterment
Who’s this for? Betterment is a pioneer in the robo-advising space, so you’ve likely heard of it. It’s a good choice for those who want to be hands-off with their investments, though more advanced investors can customize their portfolios.
The Betterment Portfolio is made up of low-cost, diversified ETFs. Users cannot buy individual stocks or invest in individual funds, so if that’s what you’re looking for, consider another app on this list.
There is no minimum balance required to invest with Betterment, and the annual account fee is a low 0.25% of your fund balance. Investors with a balance of $100,000 can upgrade to the premium plan, which gives you access to real-life financial advisors for an annual fee of 0.40% of your fund balance.
Betterment’s app is available for free on both the App Store, where it had 4.8/5 stars at the time this article was published, and on Google Play, where it had 4.6/5 stars.
Betterment
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. For example, Betterment doesn’t require clients to maintain a minimum investment account balance, but there is a ACH deposit minimum of $10. Premium Investing requires a $100,000 minimum balance.
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Fees
Fees may vary depending on the investment vehicle selected, account balances, etc. Base price is $5/month for investing accounts; automatically switches to 0.25% annually once you reach $24,000 in total balance or set up $200/month in recurring deposits. Premium plan is 0.65% annually.
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Investment vehicles
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Investment options
Stocks, bonds, ETFs and cash
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Educational resources
Betterment’s resources hub offers expert-written guides on investing basics, retirement planning and personal finance that are designed to help investors at every level make more informed decisions.
Terms apply. Does not apply to crypto asset portfolios.
Pros
- No trade or transfer fees
- Automated investing with portfolios built around your financial goals, timeline and risk tolerance
- Assign specific goals to each portfolio and invest using different strategies
- Quick and easy account setup with the ability to sync external retirement accounts
- Advanced features include automatic rebalancing, tax-loss harvesting and socially responsible investing
- Premium plan users ($100,000 minimum) get unlimited access to certified financial planners (CFPs)
Cons
- $5/month fee for investing accounts (switches to 0.25% annually once you hit $200/month in recurring deposits or $24,000 in total balance)
- Premium plan requires a $100,000 minimum balance
Best app for micro-investing: Acorns
Who’s this for? Acorns rounds up daily purchases made by a linked credit or debit card and, once the accumulated “spare change” reaches $5, invests it in a diversified portfolio. According to Acorns, users invest an average of more than $30 per month by micro-investing with its Round-Ups® feature.
You can also set up daily, weekly or monthly transfers from your linked bank account, starting with as little as $5 a month.
The Acorns Invests account is a robo-advisor, which suggests managed ETF portfolios based on your risk level. (You can’t buy or sell individual stocks through Acorns.)
Acorns offers three plans:
- Bronze ($3 per month)
- Silver ($6 per month)
- Gold ($12 per month)
While the Round-Ups feature is a great way to get started investing, it’s important to make sure you’re setting aside enough to cover the fees, which start at $3 a month. If you’re only investing $5 or $10, that can take a big chunk out of your returns.
Acorn’s app is available to download for free on both the App Store, where it had 4.7/5 stars as of this article’s publication, and Google Play, where it has 4.3/5 stars.
Acorns
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account; $5 minimum to start investing
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Fees
Fees may vary depending on the investment vehicle selected. Monthly plans include: Bronze ($3 per month), Silver ($6 per month), and Gold ($12 per month). No hidden costs or transaction fees.
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Bonus
Silver members receive a 1% IRA match on new contributions during their first year; Gold members receive a 3% IRA match on new contributions during their first year.
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Investment vehicles
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Investment options
Diversified ETFs which include more than 7,000 stocks & bonds
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Educational resources
Acorns Learn hub offers videos, articles and tips for investors at every level. Money Missions, a free educator-designed financial literacy curriculum for families, is available on YouTube.
Pros
- $0 minimum deposit to open an account
- Round-Ups automatically invests your spare change from everyday purchases
- IRA match of 1% (Silver) or 3% (Gold) on new contributions in your first year
- Automatically rebalances portfolio based on your financial goals, timeline and risk tolerance
- Earn bonus investments when shopping with Acorns Earn partner brands
- Offers Acorns Sustainable Portfolios for ESG investing
Cons
- Monthly fee can be steep for small balances ($3/month fee on a $500 balance equals a 7.2% effective annual fee rate)
- Investment options are limited compared to full-service brokerages
- No tax-loss harvesting
Best app for active investing and saving for retirement: Webull
Who’s this for? Similar to Robinhood*, Webull offers commission-free trading on stocks, options, ETFs and crypto, with no minimums. Users also have access to IPO and fractional shares.
Webull currently offers IRAs (traditional, Roth and rollover), so users can manage their retirement funds along with their stocks all in one place.
Webull offers users a customizable desktop version of its platform if you prefer to trade on a bigger screen and investors have extensive extended trading hours before and after the market closes: 4:00 a.m. to 9:30 a.m. ET and 4:00 p.m. to 8:00 p.m. ET, Monday to Friday.
The Webull app is available for free in both the App Store, where it had 4.7/5 stars at the time this article was published, and on Google Play, where it had 4.4/5 stars
Webull
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Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account or to start investing
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Fees
Fees may vary depending on the investment vehicle selected. Commission-free trading on stocks, ETFs and options; regulatory transaction fees, exchange fees and options contract fees may apply.
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Bonus
Rotating welcome promotions, including free stock awards and deposit match bonuses of up to 4% on qualifying deposits. Premium subscribers ($3.99/month or $40/year) also earn a 3.5% match on IRA contributions.
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Investment vehicles
Brokerage account: Webull commission-free investing IRA: Traditional, Roth, Rollover IRAs Robo-advisor: Webull Smart Advisor
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Investment options
Stocks, ETFs, options, fractional shares, IPOs, ADRs, OTC stocks, futures, US Treasuries, bonds and select cryptocurrencies through Webull Crypto
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Educational resources
Webull offers educational resources, including beginner guides, advanced trading strategies and a paper trading simulator to practice risk-free with virtual funds.
Pros
- $0 minimum deposit to open an account and invest
- Commission-free trading stocks, ETFs, and options
- Advanced charting tools with 50+ technical indicators
- Extended trading hours available 24 hours a day, Monday through Friday, on select securities
- Paper trading simulator lets you practice strategies risk-free before investing real money
- Wide range of investment options including futures, bonds and crypto
- Access to tax-advantaged IRAs with a 3.5% contribution match through Webull Premium
Cons
- Self-directed platform (users are responsible for their own investment decisions with limited guidance)
- No mutual funds available
- Limited account types (no joint, custodial, trust or HSA accounts)
- Educational tools are limited compared to full-service brokerages
How to pick the best investing app
The best investing app for you will depend on your investment style. Do you want one that does the work for you, or would you rather be in control? Do you want a passive portfolio made up of lower-risk funds, or would you rather build an active, riskier portfolio consisting of individual stocks?
Those wanting a more active approach to investing may opt for an app like Robinhood* (just make sure you’ve done your research beforehand). Meanwhile, those looking to just put their investments on autopilot and forget about them may benefit more from a robo-advisor like Betterment.
Keep in mind that not all apps offer the same investment options. For example, Acorns only offers ETFs, so if you want to trade individual stocks, this app wouldn’t be the best fit. Make sure you do your research and understand everything the app offers (and doesn’t offer) before you sign up.
You can diversify your portfolio with precious metals through these gold IRAs
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Initial Purchase Requirements
Minimum initial purchase requirement of $10,000
Minimum account balance of $25,000
Account set-up fee of $50. Storage fees of $100 or $15, depending on storage type. Annual account administration fee of $125. Terms apply.
FAQs
How much do investing apps cost?
Price is a big factor when choosing an investment app, so it’s crucial you know what you’re paying for. After all, any costs or fees you aren’t aware of can eat away at your investment earnings over time. Many investment apps are free to download and offer zero-commission trades, meaning investors aren’t charged by the broker for executing the trade. Investing in mutual funds or ETFs, however, will likely require paying management fees or expense ratios.
According to Investopedia, investors should expect a “reasonable” expense ratio for an actively managed portfolio to be between 0.5% to 0.75%. For passive or index funds, the typical ratio is lower, at about 0.2%, and can be as low as 0.02% or even lower in some cases. These are benchmarks that you can use when shopping around for an investment app.
How do investing apps work?
Investing apps let you manage your portfolio and grow your wealth from anywhere. Start by downloading the app onto your smartphone and creating a profile. You can then transfer funds from a linked bank account. Once your account is approved and funded, you can start buying and selling individual stocks, choosing ETFs or relying on a robo-advisor to manage your portfolio.
Investing apps typically offer different vehicles to grow your money, such as taxable brokerage accounts, robo-advisors, IRAs or even 529 college savings accounts.
Are investing apps safe?
Your money is protected in an investing app just as it is at any brokerage firm. If the brokerage goes under, your money is insured by the Securities Investor Protection Corporation (SIPC). The SIPC will cover up to $500,000 in investments.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every investing app review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of investing products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
CNBC Select analyzed over three dozen apps offered by robo-advisors, fintech start-ups, big banks and traditional brokerage firms. When ranking our top picks, we looked at the apps’ pricing (trading costs, minimums and account fees), mobile features, educational resources, user reviews and ratings. We also took into account the various investment products that each app offers its users.
Each investing app on this list has at least a 4.1 rating (out of 5) in the App Store (for iOS) or on Google Play (for Android), with a sizable number of user reviews.
Your earnings through an investing app are subject to fluctuations of the market, and they depend on any associated fees, as well as contributions you make to your account. There are no guarantees you will earn a certain rate of return or that current investment options will always be available.
Speaking with a reputable fiduciary investment advisor is recommended to determine the best approach for your specific investment goals.
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Disclosure: Banking services and Mighty Oak Visa™ debit cards issued by nbkc bank, Member FDIC.
*(Review Robinhood disclosures here.)
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
