Investment no longer lies only within the grasp of Wall Street or experienced traders, thanks to an array of intuitive apps tailored for novice investors. These applications make the investment process straightforward for beginners by providing tools, insights and user-friendly interfaces explicitly designed to make investing accessible.
Selecting an app in 2024 tailored towards beginners could unlock financial growth and security while offering education on low-cost trades and personalized recommendations from their user community. Here are ten investment apps you should watch if investing today. Here is our selection of 10 investment apps. You should keep an eye out for their launch this year.
1. Robinhood
Robinhood continues to be one of the premier options for new investors due to its commission-free trades and user-friendly experience, covering stocks, ETFs, options trading platforms and cryptocurrency for diverse investment possibilities.
Steps for Use
Download and Register with the App. Search assets, select stocks or securities and start investing now.
Earning Potential
Robinhood offers users the potential for earnings through capital gains on stocks, dividends, and cryptocurrency price appreciation, making it the ideal solution for long and short-term traders without commission fees.
2. Acorns
Acorns makes micro-investing accessible for beginners by automatically investing spare change from purchases into diverse portfolios.
Steps for Use
Register on the Acorns App and Link Your Bank Accounts to Get Started. Acorns will round your purchases up to the nearest dollar and invest any spare change while providing options based on risk tolerance and investing portfolio options for easy and hassle-free investing.
Earning Potential
Acorns allow users to achieve long-term gains as the app invests small sums automatically into a balanced portfolio. This approach is ideal for beginner investors who prefer effortless investing.
3. Betterment
It is an industry leader in automated investment advisors, providing users with easy ways to invest according to their goals and timelines. This makes it ideal for saving for retirement or milestones like college tuition fees.
Steps for Use
Sign and complete a risk evaluation form. Link your funding source. Establish financial goals such as retirement or a safety net.
Earnings Potential
Betterment helps you create a tailored portfolio based on your financial goals, investing in low-cost ETFs for maximum return and gradual portfolio appreciation. Their automated rebalancing and tax loss harvesting features ensure optimal returns are realized.
4. Stash
Stash provides investment with financial literacy education for beginners by offering fractional shares and ETFs starting at only $5.00, so novice investors can learn while they invest.
Steps for Use
Download, set up and fund account. Then, Start investing in Small Bites of Change.
It offers educational tools that will expand your financial understanding.
Lucrative Earnings Potential
Stash is designed for new investors seeking both education and growth. By offering capital gains, dividends, and interest earnings potential within managed accounts, it makes an excellent tool.
5. M1 Finance
M1 Finance combines robo-advice with self-directed investing by offering custom pie portfolios or pre-packaged options that users can invest in directly.
Steps for Use
Create an account in the app. Select existing or create new pies as portfolio options. Link your bank account and add funds.
Earnings Potential
M1 Finance automatically invests your funds based on a Pie that fits the Pie you select, giving it potential earnings through dividend reinvestment, portfolio growth and interest on cash balances, ideal for users interested in custom portfolios with automated rebalancing functionality.
6. Public
Public is an investment and social networking app that enables users to view other people’s portfolios and receive insights from an investor community.
Steps to Use
Download Public, create an account, and verify your identity. Then, you can follow other investors or view popular portfolios, link a bank account, fund your account, and begin investing right away.
Earnings Potential
Public allows investors to generate earnings via stock growth and dividends, providing educational value from watching how other investors manage their accounts; it is ideal for novice investors seeking guidance within an investor community.
7. Wealthfront
Its automated investing features combine with sophisticated tax-saving strategies, making it a strong option for beginning investors who want to achieve long-term goals.
Steps for Utilization
Simply register with Wealthfront, answer some basic questions about financial goals, and connect with a funding source. Within minutes, it creates your customized portfolio and automatically invests your funds for you!
Earning Potential
Wealthfront helps investors increase earnings potential with portfolio growth, tax loss harvesting, and dividend reinvestment strategies that work together for optimal returns. It is ideal for passive investors interested in improving returns.
8. SoFi Invest
It provides investors access to stock, ETF, and cryptocurrency trading and automated investing for beginners with no account fees required for getting started investing.
Steps for Utilization:
To open a SoFi account, choose whether your investments should be active or automated. Attach your bank and add funds. Finally, start investing in individual stocks, cryptocurrency tokens or diversified portfolios.
Earnings Potential
SoFi Invest is an ideal platform for beginners looking to gain through stock or crypto appreciation or dividends on ETFs. Zero fees and educational resources make it accessible and user-friendly, making SoFi an attractive solution.
9. Fidelity Investments
It is an established broker with an expansive array of investment products available, including stocks, ETFs, and mutual funds, plus powerful research tools designed specifically for new investors.
Steps for Use
To open and utilize Fidelity accounts and profiles, select investments available within your profile and start small deposits while taking advantage of all Fidelity resources to shape your decisions about them.
Earning Potential
Earnings at Fidelity come from dividends, interest payments, and capital gains. Their educational tools can also provide essential lessons on investing fundamentals for beginners.
10. TD Ameritrade
Renowned for its award-winning Thinkorswim platform, TD Ameritrade offers investors of all stripes an extensive range of investment choices and educational materials to help them get started.
Steps for Utilization:
To open and fund a TD Ameritrade account and access its Thinkorswim platform. Select investments ranging from stocks and options to ETFs before funding your account with funds from outside providers.
Earnings Potential
TD Ameritrade provides multiple pathways for its investors to generate earnings. Dividends, portfolio appreciation, and options trading are just three methods for users looking to capitalize on opportunities. Over time, beginner traders might gain enough experience to explore more advanced trading strategies.
Conclusion
Determining which investment app best matches your financial goals, knowledge level, and risk profile depends upon several key components. Your goals, knowledge levels, and risk tolerance are vital considerations.
Various apps offer educational resources, community insights, or automated portfolios that provide unique advantages suited for beginners investing in 2024. Robinhood may offer active trading, while Betterment may manage automated portfolio management with its features. Choose what best meets your investing style (active vs passive). Start small, but take advantage of educational tools as your experience and confidence increase as more experience develops.
Every app provides a path toward earnings through careful asset selection and diversification investments backed by community intelligence. From opening with manageable deposits to expanding your portfolio over time, these apps make learning and earning in real time possible, helping you meet financial goals efficiently and confidently.