High-quality investment apps like the ones we’ve highlighted below allow you to monitor your investments and make investing decisions on the go. All of the brokers on our list of the best brokers have well-reviewed investment apps that are suitable for beginners and advanced investors alike. But if an account’s mobile experience is most important to you, we’ve narrowed down that list to determine the best investing apps.
The investment apps that made our list are intentional about ensuring users and the mobile app experience are top of mind. They have robust customer support options and positive user reviews in mobile app stores, but our analysis also factored in investment costs, account fees and account minimum to invest.
More about investing apps
How much money do you need to start investing through an app?
Shockingly little. Thanks to micro-investing apps like Acorns and Stash, you can kick-start an investment portfolio with small amounts of money — just your spare change, in fact. Acorns, for example, sweeps a linked credit or debit card account, rounds up purchases to the nearest dollar and invests the change. Stash offers a similar opt-in feature that rounds up purchases to deposit money in a user’s account.
Beyond the micro-investing apps, the amount of money you’ll need to begin investing after you open your account depends on the assets you intend to buy. Individual stock shares range from as little as a few dollars to hundreds or even thousands of dollars per share. Mutual funds often have minimums of $1,000 or more, but exchange-traded funds (ETFs) are essentially mutual funds that trade like a stock, and they can often be purchased for less than many mutual funds. Don’t forget, too, that some brokers charge trading fees every time you buy or sell an investment. The good news there is that many brokers now offer free trades.
Many of NerdWallet’s picks for best apps have account minimums of $5 or less, so you can open an account right away and entirely online. Here’s more on what a brokerage account is and how to open one.
What investments can you trade through an app?
The mobile trading experience varies by broker — and so does the range of available investments. Typically, an app from a traditional online broker will offer the largest range of investment options, while smaller apps or start-ups tend to limit their selection. Among the picks above for best investing apps, Acorns offers only ETFs, while TD Ameritrade’s offerings include individual stocks, mutual funds, ETFs, bonds, options and currency (or forex). Some investment apps also offer access to cryptocurrency.
Can you lose money with an investing app?
That largely depends on how you invest your money within the app, rather than the app itself. Like traditional brokers, your investment decisions can determine how much money you gain or lose and how “safe” your money is overall. Some investments carry more risk than others — for example, individual stocks or cryptocurrencies are known to be riskier than bonds or Treasurys. Some of the investment apps listed here also offer bank or savings accounts, which are FDIC insured against loss.
