Smartphone apps have made our lives easier. We can book meetings, track appointments, answer emails on the fly and stay connected with loved ones. We can also invest our hard-earned cash right from our pockets.
Investment apps—applications that allow you to trade stocks, bonds, ETFS and other assets—are rising in popularity. However, not all are created equal.
We’ve reviewed several investing apps designed to fit specific needs. Although we have recommendations, finding the best app for you depends on assessing your financial goals, needs, preferences, and financial situation.
Best for Average Investors
App Store Rating: 4.8 (2,695,630 reviews)
Description: Fidelity’s mobile investing app has a bit of everything for investors of all stripes. Users can access their accounts, net worth and investment portfolios with one-click navigation. For those more inclined to research on their own, Fidelity’s app has an advanced discovery section, replete with investment research and ideas. The app also has advanced trading features, such as detailed quote screens, real-time stock quotes and multiscreen trading. Users with a bit more investing knowledge can trade options and crypto from the app as well, hassle-free.
Best for: The average investor who knows a bit about investing but might not be an expert just yet
Pros:
- No account minimums
- Commission-free trading on U.S. stocks and exchange-traded funds (ETFs)
- Large research database and advanced tools for power users
Cons:
- Potential sell activity fee
- No paper trading option for brand-new investors
- Some advanced features are hard to find or navigate through
Account minimums: $0
Fees: No commission fees for trading U.S. assets, but there is a sell order fee of $0.01 to $0.03 on a $1,000 sale
Best for Those Seeking an All-in-One Investing Experience
App Store Rating: 4.8 (1,014,389 Reviews)
Description: Charles Schwab has been a household name in the investing industry, and with the acquisition of TD Ameritrade, it’s becoming even more ubiquitous. Schwab’s mobile app has a full assortment of investment account types (from IRAs to 401(k)s) and a heavy dose of educational resources. Users can tune into CNBC and the Schwab Network for market analysis and trading advice.
The app itself is also packed with features, such as watchlist saving (up to 50), robust trade tickets, easy-to-read account summaries and information and Schwab Assistant—the brokerage’s virtual AI assistant. Traders can also trade almost anything—except for cryptocurrencies—as Schwab’s app offers stock, OTC, ETF, mutual fund, forex, options, margin, bond and futures trading.
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