The 6 Best Trading and Investing Apps for 2024

Acorns is an app that I've personally used, and I can say that it's a fantastic option for beginners. The concept is simple: it rounds up your purchases to the nearest dollar and invests the change. So, if you buy a coffee for $2.75, Acorns will round it up to $3 and invest the remaining 25 cents. It's a painless way to start investing and it's ideal for those who might be intimidated by the idea of managing their own portfolio. 

Additionally, Acorns offers a range of pre-built portfolios based on your risk tolerance and financial goals, so you don't have to worry about picking individual stocks. It's a set-it-and-forget-it type of app and it's a great way to dip your toes into the world of investing. 

SoFi, also known as Social Finance, is a versatile choice for beginners exploring the world of trading and investing. It's not just about buying and selling stocks, ETFs or cryptocurrencies; SoFi is a multifaceted platform offering an array of financial services. This includes options like student loan refinancing and personal loans, making it a one-stop shop for various financial needs. 

A standout feature of SoFi is its wealth of educational resources. The platform provides an extensive collection of articles, videos and webinars designed to enrich your understanding of investing. What's more, SoFi offers complimentary financial advice to its members, a boon for those just starting on their investment journey. 

While SoFi's investment platform may be newer and less feature-rich compared to some of the more established apps in the market, its comprehensive approach to financial services makes it a contender worth considering. The combination of educational tools and a broad spectrum of financial products places SoFi in a unique position for those looking for more than just an investment platform. 

Fidelity Investments, one of the world's largest and most reputable brokerage firms, offers a robust app that stands as a top choice in the investment arena. It provides a wide range of investment options, including stocks, bonds, mutual funds and ETFs, complemented by a strong focus on research and education. This makes it especially appealing for those who value informed investing. 

The app distinguishes itself with exceptional customer service, featuring 24/7 phone support and in-person assistance at various branches nationwide. However, new users might initially find the app's feature-rich interface somewhat overwhelming. It's densely packed with tools and functionalities, causing a learning curve. But once mastered, it transforms into a powerful asset for managing investments. 

Expert reviews rate the app's user-friendliness above average, highlighting its efficient search functions and diverse order types, such as Market, Limit, Stop and others. These features, along with its array of order terms and expiries, cater to a range of investment strategies, making the Fidelity app a comprehensive and sophisticated choice for investors. 

Wealthfront, a renowned robo-advisor, simplifies investment management for both new and experienced investors. By setting their risk tolerance and financial goals, users allow Wealthfront's algorithms to create diversified portfolios using exchange-traded funds across various asset classes. This automated approach is ideal for those seeking a hands-off investment experience. In 2023, Wealthfront enhanced its offerings with a stock investing account, providing DIY investors access to individual stocks, ETFs and REITs, including options for fractional shares. 

Despite its robust features, Wealthfront has some limitations, such as not purchasing fractional shares in its automated service and lacking discounts for large balances. The platform charges a 0.25% management fee for automated investing, while its stock investing account works without fees. Additionally, Wealthfront offers socially responsible investment options and a high-yield cash account with competitive interest rates, further broadening its appeal to a diverse range of investors. 

As the second-best trading app on the list, Charles Schwab shines with its exceptional StreetSmart Edge platform, an ideal choice for the sophisticated investor. This platform offers a suite of advanced features that, while requiring some initial familiarization, open a world of possibilities for adept traders. Alongside this, the app boasts a wide range of investment choices and a rich library of educational materials, catering to both beginners and experts. Charles Schwab's commitment to providing a comprehensive trading experience, despite a slightly steeper learning curve, solidifies its position as a top choice in the investment app landscape. 

As the top choice in investment and trading apps, Robinhood stands out with its commitment to commission-free trades and a simple, straightforward interface. This app is a gateway for beginners to access various markets, including major stock exchanges like NASDAQ and NYSE, allowing them to buy and sell stocks, ETFs and cryptocurrencies. One of its most notable features is offering fractional shares, enabling users to invest in parts of high-value stocks from prominent companies in diverse sectors. Robinhood's approach to simplifying investment and providing access to significant markets has solidified its position as a top favorite for both novice and experienced investors.