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The 6 Best Trading and Investing Apps for 2024

Alexander Reed

Alexander Reed

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REVIEWED ON NOV 28, 2023

When you're new to the world of trading and investing, the sheer volume of information can be overwhelming. There are countless blogs, articles, YouTube videos and more, all claiming to hold the secret to financial success. But where do you start? How can you sift through the noise to find the useful information? 

 

Well, one way is to use apps. Yes, those same things that you use to order food, check the weather and post selfies can also be used to trade and invest. And trust me, it's not as scary as it sounds. In fact, I've found that some of the best apps for stocks make the process quite enjoyable. So, without further ado, let's dive into the world of trading and investing apps. 

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Acorns

Investment and portfolio management apps

4.6

Acorns
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Acorns

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. 

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SoFi

Personal budgeting and expense tracking apps

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SoFi
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SoFi

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. 

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Fidelity Investments

Retirement planning and management apps

4.4

Fidelity Investments
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Fidelity Investments

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. 

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Wealthfront

Investment and portfolio management apps

4.8

Wealthfront
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Wealthfront

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. 

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Charles Schwab

Retirement planning and management apps

2.4

Charles Schwab
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Charles Schwab

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. 

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Robinhood App

Cryptocurrency and blockchain apps

4.1

Robinhood App
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Robinhood

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. 

Start Learning about Investing

Embarking on your investment journey can be both exciting and overwhelming, but there's a wealth of resources available to ease you into the world of finance. Podcasts are a fantastic starting point – they offer insights and advice in a digestible, on-the-go format. Shows like "The Investors Podcast" or "Invest Like the Best" blend expert opinions with real-world examples, making complex topics more approachable. 

 

For those who prefer a deep dive, books are invaluable. Classics like Benjamin Graham's "The Intelligent Investor" provide foundational knowledge, while "Investing for Dummies" breaks down concepts for beginners. Additionally, online forums and communities, such as Reddit's r/investing, offer a platform to discuss strategies and trends with fellow enthusiasts. Remember, the key is to start with resources that match your learning style and pace, gradually building your confidence and understanding of the investment landscape. 

Investment Tracking Apps

In the realm of investment tracking apps, Yahoo Finance is a standout with its capability to create a customized portfolio and monitor investment performance in real-time. But the field doesn't end there. Apps like Personal Capital offer a comprehensive view of your financial picture, integrating investments with overall financial health. Seeking Alpha is another noteworthy option, providing detailed analysis and news, alongside portfolio tracking. These tools not only keep you updated on your investments' performance but also enrich your decision-making process with a wealth of news, analysis and insights, making them essential companions in your investment journey. 

Conclusion

Summing up, the world of trading and investing is made simpler with the top six apps mentioned in this article, each catering to different needs and levels of expertise. From Robinhood's user-friendly interface for beginners to the advanced features of Charles Schwab, there's a tool for every investor. Apps like SoFi and Fidelity blend educational resources with diverse investment options, while Wealthfront's automated approach is perfect for hands-off investors. Remember, success in investing requires research, patience and responsible financial planning. With these apps at your fingertips, you're well-equipped to make informed decisions and work towards your financial goals.

My Personal Recommendation

"If I had to pick just one app for diving into the world of stocks, my personal favorite would undoubtedly be Robinhood. This app resonates particularly well with the younger generation of investors, thanks to its sleek, intuitive design and beginner-friendly approach. The appeal of commission-free trades and the option to buy fractional shares makes it an accessible gateway into investing, even for those with limited funds. From my own experience, Robinhood has been instrumental in demystifying the stock market and making my investment journey more engaging. It’s a tool that empowers you to take charge of your financial future, provided it's used wisely and responsibly." 

Alexander Reed

Alexander Reed

Verified Reviewer

Verified Reviewer

Alexander Reed has always been drawn to cybersecurity and data and made his living out of writing about these topics. His favorite apps are Robinhood and Otter AI.

Writer for best of apps since October 2023

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