12 Best Investment Apps for July 2024

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Investing your money in stocks, ETFs, REITs and other vehicles is an excellent way to build wealth over time. Using an app streamlines the process, providing you with access to a variety of investment options. However, selecting the best app to suit your needs isn’t always easy. This list of the best investing apps for 2024 can get you started.

What Platform Is Best To Start Investing?

All investment apps provide specific features and benefits. Since everyone has different investment goals, the app that works for you may not be appropriate for someone else. Use this list as a starting point for selecting an investment app that best aligns with your needs.

1. Acorns: Best for beginners
2. Robinhood: Best all-in-one investing
3. Webull: Best for active traders
4. Ellevest: Best for women
5. E-Trade: Best for investment choices
6. Fundrise: Best for alternative investors
7. Betterment: Best for goal-setters
8. Fidelity: Best for planning and advice
9. Wealthfront: Best for automated investing
10. Stock Rover: Best for extensive research
11. Public: Best for social support
12. Invstr: Best for educational tools

1. Acorns: Best for Beginners

Acorns is an excellent investment app option if you’re new to investing. Setting up an account takes only a few minutes, and Acorns will select a portfolio for you based on your current circumstances and future goals. Acorns offers two types of portfolios: Core portfolios and ESG portfolios.

Core portfolios consist of ETFs in various investments, including stocks, bonds and Treasury bills. ESG portfolios focus on companies with a history of supporting environmental, social and governance initiatives.

Acorns provides recurring investment options, allowing you to automatically invest a set amount of your money according to your chosen schedule. You can also connect your bank account with Acorns and round up purchases on your debit card to transfer directly to your investments.

Pros

• Easy sign-up in less than a few minutes
• Automatic investment recommendations based on your goals
• SIPC-insured up to $500,000

Cons

• Monthly subscription fee of $3 to $12, which may exceed your returns if you’re only investing a small amount of money
• Few customization options

Costs and Fees

• $3 to $12 monthly subscription fee

Account Minimum

• None

2. Robinhood: Best All-In-One Investing

Robinhood is a great app for people who want more control over their investment selections. Through Robinhood, you can invest in stocks, ETFs, options and cryptocurrency. There are no commission fees on trading and no account minimums — benefits all investors will appreciate.

With Robinhood, it’s possible to be part of new IPOs and purchase shares at their initial listing price. You can also set an investment schedule and automatically invest your money daily, weekly, bi-weekly or monthly. Robinhood offers 24/7 customer support.

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Pros

• No commissions on trades
• Access to new IPOs
• Automatic investment options

Cons

• Minimal investment guidance
• History of legal issues

Costs and Fees

• None
• Option to pay for Robinhood Gold membership at $5 per month

Account Minimum

• None

3. Webull: Best for Active Traders

Webull offers a comprehensive platform that’s an excellent fit for active traders. With Webull, you’ll gain access to extensive market research tools, including charts, graphs, market news and a list of upcoming IPOs. Webull offers a desktop option that you can install to receive immediate alerts on any investments you’re tracking.

Through Webull, you can purchase stocks, options, ETFs, OTCs and ADRs. You’ll also have access to extended hours trading.

Pros

• Insured by SIPC
• Extensive suite of market research tools
• No commissions

Cons

• Lack of customer service options

Costs and Fees

• None

Account Minimum

• None

4. Ellevest: Best for Women

Ellevest was created to give women the tools to make intelligent investing decisions. Anyone can join, but the company’s mission is socially- and female-conscious. If you’re wondering how that’s possible, Ellevest creates target portfolios based on a woman’s circumstances, such as less time in the workforce due to maternity leave and overall lower lifetime earnings.

Ellevest offers two portfolios: the Impact and Core portfolios. Both portfolios include optimization for risk, tax and investment goals. However, the Impact portfolio ensures that over 50% of your money goes towards ESG and gender-friendly investments.

Pros

• Options for socially-conscious investing
• Customized investment guidance for women

Cons

• High monthly fees
• Doesn’t support trading

Costs and Fees

• $12 monthly fee

Account Minimum

• None

5. E-Trade: Best for Investment Choices

E-Trade, a Morgan Stanley product, offers a broad array of investments, including stocks, options, futures, ETFs, mutual funds, bonds and CDs. While you can’t directly purchase cryptocurrency through E-Trade, you can gain indirect exposure through various securities and futures.

When you open an E-Trade account, you’ll gain access to Morgan Stanley’s equity research and online tools, such as E-Trade web. E-Trade also provides fully managed portfolios, but they incur advisory fees and require a minimum balance of $500.

Pros

• Lots of investment options
• No commissions on stocks, ETFs, options and mutual funds

Cons

• Managed portfolios have minimum balance and fees

Costs and Fees

• No commissions on stocks, ETFs, options or mutual funds
• 0.30% annual advisory fee for managed portfolios

Account Minimum

• None on individual accounts
• $500 minimum balance for professionally managed portfolios

6. Fundrise: Best for Alternative Investors

While stocks, bonds and ETFs are usually investors’ go-tos, some prefer alternative investments. If that’s the case for you, Fundrise might be the solution you’re looking for. Fundrise offers three portfolios in real estate, private equity and venture capital. Each portfolio includes a diverse mix of investments. You can invest in one portfolio or allocate your funds across all three.

Fundrise gives you access to alternative investments that aren’t available through normal channels. However, you will incur annual investment advisory and asset management fees.

Pros

• Access to alternative investments like real estate and private equity
• Great for individuals who want to diversify their holdings across different assets

Cons

• Annual advisory and asset management fees

Costs and Fees

• 0.15% annual investment advisory fee
• 0.85% annual asset management fee

Account Minimum

• Varies, ranging from $10 to $100,000+

7. Betterment: Best for Goal-Setters

Whether you’re saving for retirement or have your eye on next year’s Caribbean vacation, Betterment can help you reach your goals. When you sign up for an account, Betterment’s robo-advisor will determine the best way to allocate your portfolio according to your financial objectives.

Betterment’s investment platform includes low fees and requires no minimum balance. You can also access other investment options through Betterment, including cryptocurrency and a high-yield savings account.

Pros

• Comprehensive suite of robo-advisory investment services
• Investment according to personal objectives

Cons

• Limited customer support hours

Costs and Fees

• $4 monthly fee or 0.25% annual fee

Account Minimum

• None

8. Fidelity: Best for Planning and Advice

Fidelity provides investors with a fully customizable DIY or catered investment management solution. You can invest in the stocks, bonds and ETFs of your choice or rely on Fidelity’s robo-advisor for additional assistance. Fidelity also offers dedicated financial advisors for those who want hands-on aid.

Opening an account is straightforward. Once approved, you’ll gain access to a robust set of market research tools to guide you in your portfolio selections.

Pros

• Frequent educational webinars
• Lots of research tools

Cons

• May overwhelm beginning investors

Costs and Fees

• None

Account Minimum

• None

9. Wealthfront: Best for automated investing

Wealthfront is a robo-advisor that allows you to outsource the task of managing your portfolio. Once you set up automated investing, you can sit back and watch your portfolio grow over time. The best part is that the platform will manage your funds based on your unique risk tolerance, tax situation and other investment preferences.

Pros

• Automated tax loss harvesting and dividend reinvesting available
• Customizable robo-advisor

Cons

• No human advisors available

Costs and Fees

• $0 for stock trades
• 0.25% for automated investing

Account Minimum

• $500 for automated investing

10. Stock Rover: Best for Extensive Research

If you are an investor who likes to dive into the financial information of publicly traded companies, Stock Rover could be a good fit. It offers a wide range of information to help you make your next trade.

Pros

• Free plan available
• Advanced financial information available on over 7,000 stocks

Cons

• Limited customer support
• No asset storage available

Costs and Fees

• $0 to $27.99 per month

Account Minimum

• $0

11. Public: Best for Social Support

Public offers a range of investment tools to help you make trades. But the app stands apart with the ability to connect with other investors. Through the platform, you can discuss trades with other like-minded investors to help you as you build your investment portfolio.

Pros

• Fractional shares available
• Social features to connect with other investors

Cons

• Limited types of investment accounts are available

Costs and Fees

• $0

Account Minimum

• $1

12. Invstr: Best for Educational Tools

If you are looking to learn the ropes of investing, then consider Invstr. Within the app, you can access investment courses to get up to speed as you build your portfolio. With more confidence, U.S. citizens can start investing through the app with stocks and ETFs.

Pros

• Increase your knowledge with expansive educational tools
• Use a virtual portfolio to test your skills

Cons

• Real investing is limited to the U.S. citizens

Costs and Fees

• None

Account Minimum

• $5

Criteria for Ranking the Best Investment Apps

GOBankingRates considered the following criteria to determine the best investment apps:

• Service fees
• Opening minimum investment requirement
• Educational resources, such as courses that teach investing and trading, webinars, blogs, etc.
• Research and tools, such as multiple trading platforms, in-depth market analysis and screener tools for stocks, ETFs, bonds, etc.
• Automated investment capability
• Real-time streaming data
• Ability to transfer automatically from bank accounts to investment accounts
• Availability for Android and/or iOS devices
• Average user reviews for Android and iOS versions
• 24/7 customer support

Final Take

Selecting the right investment app can be confusing, especially with so many options available! However, once you find the best investment app to suit your needs, you’ll find it easier to save toward your future financial goals, whatever they may be. Remember, the sooner you start your investment journey, the more time you have to watch your account balance grow.

Sarah Sharkey, Cynthia Bowman, Andrew DePietro and John Csiszar contributed to the reporting for this article.

Information is accurate as of July 2, 2024, and is subject to change.

GOBankingRates is a personal finance and consumer interest rate website and an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of GOBankingRates, which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

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