Best Investment Apps for Beginners

Best For IPO Investing

SoFi

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Best For Beginners

Robinhood

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Best For Stock Research

Fidelity Investments

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Best For Fund Investing

Charles Schwab

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Best For Mobile Traders

eTrade

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Figuring out where to start investing can seem daunting, but a new generation of investment apps is making it easier and more accessible than ever for beginners. 

Many platforms prioritize simplicity, offer commission-free trading and allow you to start with very little money through features like fractional shares. 

This guide provides an overview of online brokers known for being beginner-friendly.

How We Chose the Best Investment Apps For Beginners

We evaluated the best investment apps for beginners based on their cost, ease of use, educational tools, quality and breadth of educational resources and customer service responsiveness.

Best Investment Apps For Beginners

SoFi Invest — Best All-in-One Financial Platform

SoFi Invest is a one-stop shop for beginning investors who want to manage multiple aspects of their financial life in a single app. Its user-friendly interface offers commission-free trading, and you can start investing with no account minimum. The app also integrates banking, loans and financial planning tools, and offers free advice from SoFi financial planners. Its simple design and focus on empowering members make it easy for new investors to understand and execute their first trades.

Key Features: 

• Fees: SoFi offers zero commission on online stock and exchange-traded funds (ETFs), and there are no account minimums to open a self-directed Active Invest account. Most basic trades are free, but there is a $25 annual inactivity fee if you don’t log in at least once every six months. There’s also a $100 outgoing transfer fee.

• Investment Access: SoFi Invest provides access to U.S. exchange-listed stocks, ETFs and options. It also offers fractional shares, enabling beginners to invest in expensive stocks with as little as $5. Users can also trade cryptocurrencies through the SoFi platform and access initial public offerings (IPOs). It does not offer direct access to mutual funds or bonds. 

• Platform Experience: SoFi Invest’s user-friendly platform is available through its mobile app and web browser. The app is well-designed for beginners and simplifies the investing process with easy navigation and an uncluttered layout.

• Tools/Education Highlights: SoFi Invest’s SoFi Learn section provides articles and guides on various investing topics. A perk for beginners is complimentary 30-minute sessions with a SoFi financial planner for personalized advice. The platform also offers automated investing options for people who prefer a hands-off approach, as well as budgeting and credit score monitoring.

• Drawbacks: SoFi’s crypto trading fees are higher than dedicated crypto exchanges. The platform lacks some advanced research tools and detailed analytics offered by platforms catering to experienced traders. It does not provide access to mutual funds and bonds.  

Who It’s Best For: Beginners and young investors who want a straightforward, mobile-centric app for commission-free trading, appreciate fractional shares and want a unified platform for managing their investing, banking and financial planning needs.  

Robinhood — Best For Mobile First

For investors who’d rather reach for their phones, Robinhood’s mobile-first app simplifies trading stocks, ETFs, options and cryptocurrencies with no account minimums and the flexibility of fractional shares. Its basic service offers minimal interest on uninvested cash, but if you upgrade to Robinhood Gold, you’ll get a competitive annual percentage yield (APY) on cash balances and premium features like higher IRA matches and professional research. 

Key Features: 

• Fees: Robinhood offers zero-commission trading for online U.S. stocks, ETFs and options. There are no account minimums to open a brokerage account. The 4% APY on uninvested cash is only available to Robinhood Gold members, which costs $5 per month or $50 annually.

• Investment Access: Robinhood provides commission-free access to U.S. exchange-listed stocks, ETFs and options. It also offers direct cryptocurrency trading and fractional shares for a minimum of $1, allowing investors to participate in high-priced stocks with smaller amounts of money. It does not support mutual funds or bonds, which may limit diversification for some investors.

• Platform Experience: Robinhood’s user-friendly, mobile-first platform makes it easy for novices to get started. Its desktop platform, Robinhood Legend, offers charting, customizable layouts and real-time data. The mobile app provides functionality for placing trades, managing watchlists and accessing basic information. 

• Tools/Education Highlights: Robinhood Gold membership is key to accessing the platform’s advanced features. Gold subscribers receive a higher APY on uninvested cash, a 3% match on IRA contributions, larger instant deposit limits and professional research from Morningstar. Gold members also have access to Nasdaq Level 2 market data for deeper insights into order book activity. 

• Drawbacks: The competitive APY on uninvested cash is only available to Robinhood Gold members. Customer service has improved, but it has historically received mixed reviews. Because of the platform’s streamlined nature, it lacks some advanced research, screening and complex order types available on more traditional brokerage platforms. 

Who It’s Best For: New investors who want a simple, mobile-first trading experience, commission-free access to stocks, ETFs, options and crypto, and are interested in leveraging premium features like a competitive APY on cash through a paid membership.

Fidelity — Best for Diverse Investments

Fidelity blends commission-free trading with educational resources, research tools and a variety of investment products, including IRAs, stocks, ETFs, health savings accounts and 529 college savings plans. With zero commissions on stocks, ETFs and options, and the ability to invest in fractional shares for as little as $1, Fidelity removes significant barriers to entry. Its user-friendly platforms and commitment to supporting investor education make it a reliable partner for those starting their investing journey. 

Key Features: 

• Fees: Fidelity offers $0 commission for online U.S. stock, ETF and options trades, although a $0.65 per contract fee applies to options. There are no account minimums to open a brokerage account, and you can invest in fractional shares with as little as $1.

• Investment Access: Beginners can access a variety of investment products, including domestic and international stocks, more than 3,700 no-transaction-fee mutual funds and an array of ETFs, options, bonds and CDs. Fractional share investing makes it easy to diversify, even with small amounts.

• Platform Experience: Fidelity’s website and mobile app are user-friendly for all levels of investors. It’s easy to manage accounts, place trades and access research. For investors who grow into more active trading, the Active Trader Pro desktop platform offers advanced charting and customizable layouts. 

• Tools/Education Highlights: The Fidelity Learn center includes articles, videos, webinars and courses that cover everything from fundamental investing concepts to more advanced strategies. It also provides screeners for various investments, charting capabilities and in-depth research from internal experts and third-party providers. 

• Drawbacks: The volume of information and tools may be overwhelming to absolute beginners. While the default cash sweep earns a competitive yield via a money market fund, it isn’t directly FDIC-insured. 

Who It’s Best For: Beginners who want a reputable, full-service brokerage offering commission-free trading, fractional shares, educational resources, research, and diverse investment options such as stocks, ETFs, HSAs and IRAs.

Charles Schwab — Best for Comprehensive Support

Charles Schwab offers one of the most robust support ecosystems for beginners, combining 24/7 customer service, live coaching programs and a deep well of educational tools. The layered approach provides real-time guidance, self-paced learning, and low-cost access to major U.S. stocks through fractional shares, all of which reduce friction for first-time investors. 

Key Features: 

• Fees: Charles Schwab offers zero commission for online U.S. stock and ETF trades. Options trades have a standard fee of $0.65 per contract. There are no account minimums to open a Schwab brokerage account, making it easily accessible for beginners. Most services are free, but brokerage-assisted trades or mutual funds outside Schwab’s no-transaction-fee list may come at a cost. 

• Investment Access: Schwab offers access to U.S. and international stocks, more than 3,000 no-transaction-fee ETFs, thousands of no-transaction-fee mutual funds, options, bonds and CDs. A key feature for beginners is Schwab Stock Slices, which allows you to buy fractional shares of any company in the S&P 500 for as little as $5. 

• Platform Experience: Charles Schwab’s intuitive platform is available on the Schwab.com website and the Schwab Mobile app. The platforms are easy to use for tasks like researching investments, placing trades and managing accounts. For more advanced traders, Schwab also offers the thinkorswim platform, which provides professional-grade tools, advanced charting and sophisticated order types.

• Tools/Education Highlights: The Schwab Coaching program offers live webcasts, virtual workshops and on-demand content covering topics ranging from investing basics to advanced strategies. It provides comprehensive research reports, screeners and a paper trading simulator to practice strategies risk-free. Customer service is available 24/7 via phone, chat and at local branches. 

• Drawbacks: The volume of tools and services may be slightly overwhelming initially. The interest earned on uninvested cash in standard brokerage accounts is not competitive compared to other platforms. 

Who It’s Best For: Beginners who value a reputable broker with exceptional customer service, extensive educational resources and access to a variety of investment products.

E*Trade — Best for Diverse Investment Strategies

E*Trade balances user-friendliness with powerful trading tools that are designed to grow with you. It provides a variety of investment products, robust research and educational resources, making it a versatile choice for investors wanting to build wealth through diverse strategies. 

Key Features: 

• Fees: E*Trade offers zero commission trading for online U.S. stocks, ETFs and mutual funds, making it accessible for new investors. For options, the standard fee is $0.65 per contract, which drops to $0.50 for clients who execute at least 30 stock, ETF and options trades per quarter. There are no account minimums to open most brokerage accounts. 

• Investment Access: E*Trade provides access to domestic and international stocks, more than 6,000 no-transaction-fee mutual funds and a wide selection of ETFs, options, futures, bonds and CDs. It also offers fractional share investing through dividend reinvestment plans but not for direct purchases. Direct cryptocurrency trading is not available.

• Platform Experience: The E*Trade website is intuitive and well-suited for beginners and long-term investors. Its navigation for portfolio analysis and basic trading is easy. And when you’re ready to up your game, the Power E*Trade platform, available on desktop and mobile, offers advanced charting, customizable layouts, sophisticated order types and risk/reward analysis tools. 

• Tools/Education Highlights: E*Trade’s Knowledge Center provides articles, videos and webinars covering everything from investing basics to complex trading strategies, including a paper trading simulator on Power E*Trade to practice strategies risk-free. It also offers powerful screeners for stocks, ETFs, mutual funds and options as well as advanced charting capabilities and in-depth research from Morgan Stanley experts and third-party providers. 

• Drawbacks: E*Trade does not support direct cryptocurrency trading. Interest rates on uninvested cash are generally lower than its competitors. Fractional shares are mainly available through dividend reinvestment, not for direct purchases. 

Who It’s Best For: Beginners who want a reputable broker with a variety of investment choices, including commission-free mutual funds, educational resources and platforms that allow them to start investing easily. 

Choosing the Best Investment Apps For Beginners

Starting your investment journey can be intimidating, but the best apps for beginners strip away complexity and offer support, education, and access to real assets — even with just a few dollars.

SoFi Invest is ideal for people looking to manage multiple aspects of their finances in one app. Robinhood is great for mobile-first users and offers the ability to trade stocks, ETFs, crypto, and options with no commissions. 

Fidelity stands out for its educational resources and robust investment offerings, while Charles Schwab emphasizes investor support and accessibility with fractional shares and live coaching. E*Trade rounds out the list with a balance of research, tools, and a user-friendly platform designed to grow with the investor.

Each app serves a slightly different purpose — but all are well-equipped to help you build confidence and grow wealth over time. Focus on what matters most: whether that’s hands-on support, ease of use, or access to diverse assets.

Frequently Asked Questions