If you’re new to trading, technology can be your best friend. Apps offer convenience and easy access as well as lead you to understand how trading works. Each of these four apps offers benefits to help you learn about the stock market and how to build your portfolio. If you’re ready to invest or learn about trading, check out one of these apps.
Stash
This app is beginner-friendly and has a learn as you go model. You can start making investments for as little $5 and invest in exchange-traded funds or single stocks. The app costs $1 a month. You can choose stocks from various categories listed on the site.
Stash has educational materials as well as support to help you develop your trading knowledge and skills. You will have access to tips and articles located within the app. You will also take lessons from the Stash investment coach.
Acorns
Acorns are great for new investors because it makes the process of saving and investing simple and hands-free. When you like your account and credit card, it takes the change and sweeps it into your savings. The app is free for college students and people under 24.You can start a portfolio $5. There is no account minimum. Monthly fees start at $1 and increase depending on the type of account you want, including checking, and retirement accounts.
Stockpile
Stockpile is an app that can be used by anyone at any age. This is another app that only offers individual stocks and ETFs. You can buy fractional stocks at 99 cents, which allows you to buy a smaller part of a larger stock. You can invest without spending the high cost of stocks like Amazon and Google.
Ally Invest
Ally Invest has a lot of tools that can help you build your portfolio while learning about investing. It’s a very easy-to-use app for beginners to get started. It is a DIY app, though, but the tools and calculators can help you invest wisely. They offer commission-free ETFs and no account minimums.
While all of these apps offer perks for beginners, one app stood out as a clear winner. Stash has everything a beginning trader needs to learn the ropes while actively investing.
Each app has something to offer and depending on your skill level, you might find you benefit more from one rather than the other.