7 Best Investment Apps of [December 2024]

Investing is easier than ever these days, thanks to investment apps. You can easily set up an account and start investing, all from your phone. Investment apps have improved considerably over the years, now offering the power and offerings of traditional brokerage accounts with commission-free trading and user-friendly platforms.

While some investment apps, such as Fidelity (which did our make our list), can meet the needs of a wide range of investors, there’s not one best option for everyone. Instead, it’s important to choose a platform that best fits your individual needs.

To help you find the right investment app, we’ve reviewed many of the most popular options and narrowed it down to seven that I think are best for most people.

How we evaluate products

In compiling this list of the best investment apps, we first determined areas that may be essential to new and experienced investors. These areas include minimum investment requirements, available asset classes, ease of use, account types, fees, and security features.

Once we had identified some of the key benefits investors may want from an investment app, we got to work identifying those apps that fit the bill. We wanted to include well-rounded apps for investors while also focusing on finding an app that may be best for investors in specific situations, whether that be someone who is new to investing, is an active trader, wants an impact portfolio, and more.

Keep in mind that we did not rank these investment apps in a certain order and did not review all available investment apps. This list is not comprehensive and is designed to be a starting point for a person who is researching the subject. Make sure to have an investment strategy or consult a financial advisor before making investment decisions. Note that some investment apps on our list may be current or past FinanceBuzz partners.

Best 7 investment apps of December 2024

• Robinhood
• Wealthfront
• Acorns
• M1 Finance
• Fidelity
• Charles Schwab
• Ellevest

Compare the best investment apps

	Best for	Account minimum	Account fees
Robinhood	Active trading	$0	$0 for Robinhood, $5 per month for Robinhood Gold
Wealthfront3 <p class="">FinanceBuzz receives cash compensation from Wealthfront Advisers LLC (“Wealthfront Advisers”) for each new client that applies for a Wealthfront Automated Investing Account through our links. This creates an incentive that results in a material conflict of interest. FinanceBuzz is not a Wealthfront Advisers client, and this is a paid endorsement. More information is available via our links to Wealthfront Advisers.<br></p>	Beginners	$500	0.25% annual management fee
Acorns4 <p>Important Risk Disclosure</p> <p>Acorns Invest is an individual investment account which invests in a portfolio of ETFs (exchange-traded funds) recommended to customers based on their responses to the Acorns investor profile questionnaire.</p> <p>Spare change invested with Round-Ups® is transferred from your linked funding source (checking account) to your Acorns Invest account when activated. Round-Up investments from an external account will be processed when your Pending Round-Ups reach or exceed $5.</p> <p>Investing involves risk, including loss of principal. Please consider, among other important factors, your investment objectives, risk tolerance and Acorns’ pricing before investing. Investment advisory services offered by Acorns Advisers, LLC (Acorns), an SEC-registered investment advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, LLC, an SEC-registered broker-dealer and member <a href="https://www.finra.org/#/">FINRA</a>/<a href="https://www.sipc.org/">SIPC</a>.</p> <p>For additional important risks, disclosures and information, please visit <a href="https://www.acorns.com/terms/">https://www.acorns.com/terms/</a>.</p>	Micro-investing	$0	$3 per month for Acorns Bronze, $6 per month for Acorns Silver, $12 per month for Acorns Gold
M1 Finance5 <p>The opinions expressed are solely those of the authors and do not reflect the views of M1. They are for informational purposes only and are not a recommendation of an investment strategy or to buy or sell any security in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Prior to making any investment decision, you are encouraged to consult your personal investment, legal, and tax advisors.</p>	Automated investing	$100	$3 per month for users with less than $10,000 across their various M1 accounts
Fidelity	Well-rounded offerings	$0	$0
Charles Schwab	Experienced and active traders	$0	$0
Ellevest	Impact investing	$0	$12 per month

Robinhood

Robinhood is one of our favorite investment apps for active traders. It’s one of the pioneers of commission-free trading, allowing you to invest in stocks, ETFs, options, and cryptocurrencies without worrying about commission costs.⁶ <p>Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the <a href="https://cdn.robinhood.com/assets/robinhood/legal/Characteristics%20and%20Risks%20of%20Standardized%20Options.pdf">Characteristics and Risks of Standardized Options</a> before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.</p> <p>Robinhood Financial does not guarantee favorable investment outcomes. The past performance of a security or financial product does not guarantee future results or returns. Customers should consider their investment objectives and risks carefully before investing in options. Because of the importance of tax considerations to all options transactions, the customer considering options should consult their tax advisor as to how taxes affect the outcome of each options strategy. Supporting documentation for any claims, if applicable, will be furnished upon request.</p> <p>Financebuzz is compensated by Robinhood to produce this content.</p> ⁷ <p>All investments involve risk including loss of principal. Interest is earned on uninvested cash swept from your brokerage account to program banks. Robinhood is not a bank. For margin enabled customers, to earn interest through the cash sweep program, a cash balance is needed. If you have a margin balance, there is no cash balance to earn interest.</p>

With Robinhood, you can invest in your own schedule. It offers 24/7 trades on stocks and ETFs (though orders won’t settle until the market opens) and 24/7 customer support. That’s a feature you can’t get with even the big guys like Fidelity and Schwab. Not to mention, it has added benefits like IPO access, fractional shares, and a match on qualifying contributions for its retirement accounts.⁸ <p>Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of the Robinhood Customer Agreement. All investments involve risk and loss of principal is possible.</p> <p>Robinhood Financial LLC (member SIPC), is a registered broker dealer.</p> ⁹ <p>The IRA Match is automatically added after eligible contributions from an external account. Keep the contributions in your IRA for at least 5 years from the date you contribute. IRA Match <a href="https://robinhood.com/us/en/support/articles/ira-match-faq/">FAQ</a>.</p> <p>You must have earned income to contribute to an IRA. Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax. Robinhood does not provide tax advice.</p> <p>This is not a recommendation to roll over. Before taking any action with a former employer's retirement plan, be sure to consider the various options: <a href="https://www.finra.org/investors/investing/investment-accounts/retirement-accounts#loans-and-rollovers">https://www.finra.org/investors/investing/investment-accounts/retirement-accounts#loans-and-rollovers</a></p><p>The Robinhood IRA is available to any customer with a Robinhood brokerage account in good standing.</p><p>Other fees may apply. See our Fee Schedule for details.</p><p>Recommendations are not available to Massachusetts residents. All investments involve risk and loss of principal is possible. Robinhood Financial LLC (member SIPC), is a registered broker dealer. Robinhood Securities, LLC (member SIPC), is a registered broker dealer and provides brokerage clearing services. All are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’).</p>

While the Robinhood mobile app’s interface is easy to use, Robinhood has been criticized for not providing enough support for beginners who might not fully understand the trades they’re executing. However, it does provide educational resources that can help them get the hang of things.

Sign up for Robinhood. Or read our Robinhood review.

Wealthfront

If you’d rather take a more hands-off approach to your investments, we think Wealthfront is a great option. For a relatively low fee, you can have Wealthfront automatically customize and adjust your portfolio based on your financial goals. You’ll just answer a few questions, and Wealthfront will build you a portfolio that meets your needs.

Beginners will like that Wealthfront is accessible to brand-new investors, even those who don’t want to learn the ropes. And unlike some similar platforms, it allows you to buy and sell from a list of individual stock collections. Think of these as falling somewhere between individual stocks and diversified funds. They include only a small handful of stocks, putting you more in the driver’s seat.

It’s worth noting that if you have a larger account balance, you may prefer the robo-advisor services through a larger brokerage like Fidelity, where fees are waived altogether for high balances.

Sign up for Wealthfront. Or read our Wealthfront review.

Acorns

Acorns is a micro-investing platform that allows you to invest your spare change by rounding up your purchases to the nearest dollar.¹¹ <p>*Important Risk Disclosure</p> <p>Investing involves risk, including loss of principal. Please consider, among other important factors, your investment objectives, risk tolerance and Acorns’ pricing before investing. Investment advisory services offered by Acorns Advisers, LLC (Acorns), an SEC-registered investment advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, LLC, an SEC-registered broker-dealer and member <a href="https://www.finra.org/#/">FINRA</a>/<a href="https://www.sipc.org/">SIPC</a>.</p> <p>Round-Ups® investments are transferred from your linked funding source (checking account) to your Acorns Invest account, where the funds are invested into a portfolio of selected ETFs. If you do not maintain an adequate amount of funds in your funding source sufficient to cover your Round-Ups® investments, you could incur overdraft fees with your financial institution.</p> <p>Only purchases made with Round-Up accounts linked to your Acorns account with the feature activated are eligible for the Round- Ups® investment feature. Round-Up investments from your funding source will be processed when your Pending Round-Ups® investments reach or exceed $5.</p> <p>For additional important risks, disclosures and information, please visit <a href="https://www.acorns.com/terms/">https://www.acorns.com/terms/</a>. </p> ⁴ <p>Important Risk Disclosure</p> <p>Acorns Invest is an individual investment account which invests in a portfolio of ETFs (exchange-traded funds) recommended to customers based on their responses to the Acorns investor profile questionnaire.</p> <p>Spare change invested with Round-Ups® is transferred from your linked funding source (checking account) to your Acorns Invest account when activated. Round-Up investments from an external account will be processed when your Pending Round-Ups reach or exceed $5.</p> <p>Investing involves risk, including loss of principal. Please consider, among other important factors, your investment objectives, risk tolerance and Acorns’ pricing before investing. Investment advisory services offered by Acorns Advisers, LLC (Acorns), an SEC-registered investment advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, LLC, an SEC-registered broker-dealer and member <a href="https://www.finra.org/#/">FINRA</a>/<a href="https://www.sipc.org/">SIPC</a>.</p> <p>For additional important risks, disclosures and information, please visit <a href="https://www.acorns.com/terms/">https://www.acorns.com/terms/</a>.</p>

We like this feature for new investors or those who don’t feel like they have a lot of money to start investing with. It offers an automated approach to investing, automatic portfolio rebalancing, and a unique round-up feature.

Acorns’s portfolios are fully automated, including automated portfolio rebalancing and automated dividend reinvesting. Acorns also offers other account options, including retirement and custodial accounts, an interest-earning spending and saving account, and the ability to earn rewards.

Sign up for Acorns. Or read our Acorns review.

M1 Finance

In a way, M1 Finance combines the benefits of a full-service brokerage firm and a robo-advisor, all in one portfolio. It’s designed to let you “set it and forget it.” You can set up automatic investments, choose from automated portfolios, and invest in individual stocks (and even cryptocurrencies). And once you set up your investing strategy, M1 Finance does the rest. It’s worth noting that no other investment app offers customization quite like this.

I also think people may find M1 Finance attractive because of its banking products. In addition to its investing services, you can earn up to 4.25% (as of 12/11/24) APY on your cash balance and up to 10% cash back with the Owner’s Rewards Card by M1.¹² <p> Obtaining stated APY (annual percentage yield) or opening a savings account does not require a minimum account balance. Stated APY is valid from date of account opening. Account fees may reduce earnings. Higher APY rate subject to <a href="https://m1.com/plus/membership/">paid M1 Plus subscription</a>. Rates are subject to change. </p> ¹³ <p> Credit Card not available for US Territory Residents. The Owner’s Rewards Card by M1 is Powered by Deserve and issued by Celtic Bank, a Utah- Chartered Industrial Bank, Member FDIC. Review <a href="https://static.deserve.com/resources/CHA/The%2BOwner%27s%2BRewards%2BCard%2Bby%2BM1%2BTerms%2B%26%2BConditions.pdf" target="_blank" rel="noopener noreferrer">Cardholder Agreement</a> and <a href="https://m1-production-agreements.s3.amazonaws.com/credit-card-documents/Owners_Rewards_Program_Terms_Sept_2021.pdf?versionId=2kt0CIcGECGjtShrR5Zv482NqXIBPAZO" target="_blank" rel="noopener noreferrer">Rewards Terms</a> for important information about the Owner’s Rewards Card by M1. </p> While plenty of people are content to keep their banking and investment separate, this could be a good option for someone who likes the idea of having all of their money in one place.

Visit M1 Finance. Or read our M1 Finance review.

Fidelity

Of all the investment apps on our list, Fidelity has the most well-rounded range of offerings, and it’s only expanded in recent years. It has everything from active trading to robo-assisted portfolios for many different account types. You’ll also have access to a financial advisor when you need one.

Fidelity can truly serve anyone from first-time to seasoned investors, from childhood to retirement, and I can’t say that about many other apps on our list. And with its cash management accounts, it could serve as a one-stop-shop for all of your personal finances.

Visit Fidelity. Or read our Fidelity review.

Charles Schwab (formerly TD Ameritrade)

If you’re an experienced and active trader, Charles Schwab will likely stand out as a great option for you. Like some other apps on our list, it offers commission-free trading on stocks, options, and ETFs, not to mention access to plenty of other assets. It also has a wide variety of account types, asset classes, and trading methods.

Where I really think Charles Schwab stands out for experienced investors is in the platform it acquired by purchasing TD Ameritrade. TD Ameritrade’s (now Charles Schwab’s) thinkorswim platform is one of the best analytics tools on the market. It lets you develop new trading strategies and set up complex, multi-step trades. It offers robust analysis tools and charting, investing insights, education, and even paper trading to help you practice your trades in advance. Other platforms on our list have analysis tools, but none as robust as this.

Visit Charles Schwab. Or read our Charles Schwab review.

Ellevest

Ellevest was designed specifically with women in mind. It offers automated, diversified portfolios based on some of the unique financial situations that women face, including longer lifespans and lower lifetime earnings. Ellevest also has an impact portfolio, which ensures more than half of your portfolio is invested with ESG (environment, social, and governance) assets.

I also like that Ellevest has more robust planning services for those who want them. You can meet with professionals like CFPs, CPAs, and Certified Divorce Financial Analysts to talk about your financial goals and make a game plan. This help is more personalized than what you can get with some of the other apps in this roundup.

Visit Ellevest. Or read our Ellevest review.

How to choose the best investment app for you

With so many investment apps to choose from, it can be challenging to find the right fit. As you consider your options, there are a few things to keep in mind.

1. Your investment budget

First, it’s important to understand your investment budget. Your budget should consider how much it will cost to invest as well as any required account minimums. Realize, too, that passive investing is a long-term financial commitment. Avoid investing any amount of money that you think you’ll need in the near future.

The good news is that you can invest no matter how little you have. For example, plenty of apps have no account minimums, meaning you can literally get started with $1. Other platforms, however, require a larger initial investment. If you have some money to get started with, it can make sense to use a platform with a higher minimum so you get access to the passive income tools you prefer.

2. Available asset classes

Next, when evaluating the best investment apps, consider what types of assets you want to invest in. Different apps offer different investment options. For example, some make it easy to build a portfolio out of stocks, ETFs, and bonds. Others may offer options trading and cryptocurrencies.

Remember, though, that a diversified portfolio might help you manage some of your investment risks. Consider one or more platforms that allow you to invest in different asset classes so you aren’t overly exposed in one area. Platforms with automated portfolios, such as Wealthfront, may offer fewer asset classes, but with the assurance of a diversified portfolio.

3. Account types

Figure out what types of accounts you want access to. For example, some investment platforms offer a wide variety of accounts, including individual retirement accounts (IRAs) and trust accounts, in addition to personal taxable investment accounts.

If you’re trying to increase the tax efficiency of some of your passive income, it can make sense to look for a platform that offers you the ability to open an IRA account. For example, if you’re interested in real estate opportunities, certain platforms offer you the option to hold some of your portfolio in traditional, Roth, or simplified employee pension (SEP) IRAs. You can also open a taxable investment account as well. And if you’re investing for your children, you may want access to custodial accounts or 529 accounts.

Look at your portfolio holistically to determine which assets should be kept in tax-advantaged accounts and which should be kept in taxable accounts. This approach can save you money over time.

4. Investment management fees and pricing

Many investment platforms charge fees, so it’s important to be aware of this when you’re deciding where to invest. Some platforms charge a monthly account fee based on the features you want to access. Others charge an annual fee based on the assets in the account.

Your deposit might also determine what extra services you have access to. For instance, some platforms may charge a monthly or annual fee for access to a personalized portfolio and investment advice. On the other hand, other platforms may have fewer services but no fees.

Consider your needs and expectations, as well as the types of services you expect, as you compare investment platforms to determine which will work best for you.

5. Security features

Don’t forget to look into security. You want to make sure your transactions are encrypted. Check to see whether the platform is registered with the Securities and Exchange Commission and see what clearinghouse it uses. For example, some platforms use Apex Clearing for their transactions, which means they have Securities Investor Protection Corporation (SIPC) insurance and are a member of the Financial Industry Regulatory Authority (FINRA).

Check to see which memberships the platform has as a way to determine whether it’s properly regulated. If you plan to download and use a mobile app for iOS or Android, ensure that it offers security features like two-factor authentication, TouchID, and more.

FAQs

Products that didn’t make our list

There are countless investment apps on the market, and it was difficult to narrow down our picks. If the seven apps on our list don’t quite meet your needs, you may consider these other apps that didn’t make the cut:

• Public: Public has an array of resources available for beginner investors, and I like its focus on making investing more accessible. Public emphasizes community building, enabling you to get insights and learn about investing opportunities from an active community of investors. People will also appreciate that the Public app is easy for beginners to use and offers stocks, ETFs, bonds, and popular cryptocurrencies.¹⁴ <p>All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA &amp; SIPC. Not investment advice. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC.</p> ¹⁵ <p>All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. (not investment advice).US members only.</p>
• Read our Public review.
• Stash: Stash offers a simple approach to investing with its automated recurring investments and dividend reinvestment. As a Stash user, you can let Stash determine your investments based on goals you define, or you can choose your own investments.¹⁶ <p class="">Stash has full authority to manage a “Smart Portfolio,” a discretionary managed account. Diversification and asset allocation do not guarantee a profit, nor do they eliminate the risk of loss of principal. Stash does not guarantee any level of performance or that any client will avoid losses in their account.<br></p> ¹⁷ <p> The Diversification Analysis feature does not rebalance portfolios. No asset allocation strategy is a guarantee against loss of principal. </p> Stash offers access to stocks, ETFs, and bonds and has socially responsible investing options.
• Read our Stash review.
• Betterment: Betterment is another robo-advisor, just like Wealthfront. It has a similar functionality and the same 0.25% management fee. Betterment offers personalized investment recommendations based on your needs and priorities, plus automatic rebalancing and tax loss harvesting. As an added bonus, Betterment makes it especially easy to roll over an existing 401(k).
• Read our Betterment review.
• E*Trade: E*TRADE from Morgan Stanley is a versatile platform that caters to both novice and experienced investors. The user-friendly interface made it easy for us to navigate and execute trades. It has extensive educational resources that can help you learn through its extensive library of articles, videos, and webinars. The platform's robust research tools can also be quite handy when you want to compare different investment products.¹⁸ <p>Restrictions apply. <a href="https://us.etrade.com/what-we-offer/how-it-works/promo?ch_id=A">Offer details on E*TRADE site</a>.</p>
• Read our E*Trade review.
• SoFi Active Invest®: SoFi Active Invest offers automated and active investing, as well as access to unique investment opportunities (like initial public offerings, or IPOs).¹⁹ <p><b>INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED •&nbsp;</b><b>MAY LOSE VALUE</b></p> <p>Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(<a href="https://www.finra.org/">www.finra.org</a>)/SIPC(<a href="https://www.sipc.org/">www.sipc.org</a>).</p> It’s also possible to buy and sell cryptocurrencies with SoFi Invest, as well as execute stocks, options, and ETF trades.²⁰ <p>Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the <a href="https://www.theocc.com/getmedia/a151a9ae-d784-4a15-bdeb-23a029f50b70/riskstoc.pdf.">Characteristics and Risks of Standardized Options</a>.</p> The ability to invest at IPO prices is one way SoFi Active Invest tries to set itself apart, as few apps provide this ability.²¹ <p>Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(<a href="www.finra.org" style="background-color: rgb(255, 255, 255);">www.finra.org</a>) /SIPC (<a href="www.sipc.org" style="background-color: rgb(255, 255, 255);">www.sipc.org</a>).</p>

While we like all of these alternatives, none of them made our list for the same reason: They simply don’t offer anything you can’t get elsewhere. They offer some of the same perks as one or more competitors, but they don’t really have anything you can’t find on another app. And the other apps I chose to include had more features and perks than these apps.

Bottom line

An investment app truly shines when it offers minimal to no fees, boasts an intuitive user interface, provides access to a diverse range of assets, and enriches our knowledge with valuable educational resources.

As you can see from our list, there’s no one investment app that’s right for everyone. While Fidelity stands out as the most well-rounded option, the other apps on our list offer more niche benefits to a specific type of investor.

Investment apps are one of several ways to join the market. You can also explore more options in our list of the best online brokerage accounts.