11 Best Investing Apps of April 2024

More about investing apps

Which investing app features are most important?

The most important thing to consider when choosing an investing app is how you’re going to use it — if you’re a frequent stock trader, you may require different functionality than someone who simply wants to monitor the performance of their long-term investments. Here’s a Nerdy overview of the features you might consider when choosing the best investing app for you:

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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.

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.

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.

The bottom line: No matter what app or investment company you’re using, it’s important to align your investment selections with your risk tolerance and time horizon. Generally speaking, many financial advisors suggest not investing money you need within the next five years — most investments should be considered long-term.

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