11 Best Investment Apps for 2020: What You Need to Know

Investing
June 21, 2020
Written by Drew Cheneler
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Investing
June 21, 2020
Written by Drew Cheneler
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This is a complete list to help you select the Best Investment Apps in 2020.

Our list will include:

  • Best Investment Apps for Beginners
  • Best Apps for Low-Fees
  • Best Investing Apps for Long – Term Investing
  • Best Real Estate Investment App
  • Best App for Trading Options & Crypto Currency
  • And of course… A lot more.

Without further ado…Let’s Get Started.

Whether you are a seasoned investor or just starting out, it is ideal for you to manage your investments from your fingertips. Fortunately, the rise of technology allows you to do this with ease.

In fact, all you have to do is download an app on your mobile device to start investing. To help you cut through the cluster and nuances, we put together a list of the best investment apps.

Backed by hours of research and user testing, our team narrowed down the best investment apps. These apps will show you how to start investing and will make sure you make simple financial decisions.

Quick Overview: The Best Investing Apps

  • Betterment – Best App for Passive Investors
  • Acorns – Best for Beginners
  • Ally Invest – Best for Low Fees
  • Robinhood – Best for Trading Options & Crypto Currency
  • M1 Finance – Best App for “Hands off” Customized Investments
  • Stash – Best for Value Based Investing
  • Fidelity – Best for Long Term Investors
  • TD Ameritrade – Best Investing App for Day Traders & Research
  • E*Trade – Best Investing App for “Do It Yourself” Investors
  • Merrill Edge – Best for Bank of America Customers
  • Fundrise – Best Real Estate Investment App

The Best Investing Apps (For 2020)

1. BETTERMENT

As a Robo-Advisor, Betterment has attracted a legion of fans. This investment app allows you to create a diversified portfolio consisting of both stocks and bonds. Backed by Nobel Prize – winning research, Betterment has a team of professionals that manage your portfolio, optimize it for tax loss harvesting, and re-balance it when needed. Rest easy, with Betterment your portfolio is in good hands.

Betterment is a premiere investing experience and offers one of the strongest investment apps.

Source: Betterment.com

Account Types:

  • Taxable Investment Account
  • Traditional & Roth IRA’s
  • Education Saving Accounts
  • Emergency Fund

Annual Fee: 0.25% – 0.40% Depends on Account Balance.

Sign Up Promotion: Enjoy 1 Year Free Management With A Qualifying Deposit

Benefits: 

  • Optimized for Tax Loss Harvesting
  • No Account Minimum
  • Emphasizes Goal Based Investment Strategy (They want to help you reach your financial goals)
  • Advanced Tools to help you make smart financial decisions

Drawbacks:

  • Not Designed to hand pick stocks

2. ACORNS

Acorn’s is a user-friendly investment app that allows you to invest your spare change. This app is ideal for beginners as they learn the ins and outs of the stock market. Here’s the deal, Acorn’s will sync with your bank account and will roundup your purchases and spare change. The ’rounded up’ change will then be invested into different assets that are safe and designed to grow over time. Aside from Acorn’s automatic roundups, you can also schedule automatic deposits.

Undeniably, Acorn’s is designed for you to ‘set it and forget it,’ which is absolutely great if you want to remain as passive as possible. Gone are the days where you have to spend hours on end researching individual stocks. Acorn’s allows you to invest with ease, and free’s you from the nuances of actively managing an investment portfolio.

Acorns is a Beginner Friendly App for Investors.

Source: Acorns.com

Account Types:

  • Acorns Core – Taxable Investment Account
  • Acorns Later – Individual Retirement Account (IRA)
  • Checking Account

Commissions: $1 – $3 Per Month

Sign Up Promotion: $5 Sign Up Bonus

Benefits: 

  • Invest’s Spare Change Automatically
  • Cash Back Rewards with Select Retail Businesses
  • College Students will Enjoy Acorn’s Services for Free
  • In Depth Educational Resources Available

Drawbacks: 

  • Limited Assets to Invest In
  • Relatively High Account Fee’s, regardless of Account Balance

Want to Learn More? Read our Acorns Investing Review.

3. ALLY INVEST

As a subsection within Ally Bank, Ally Invest offers two services: Managed Portfolio & Self Directed. With their Managed Portfolio option, their team will decide what assets to invest in and will ensure your portfolio is risk adverse. This option is well suited for those who are looking to remain ‘hands off’ with their investments, and are fine leaving it to a team of professionals.

If you are interested in hand picking your own stocks, index funds, or ETFs, then their self-directed option is best. Ally Invest has a robust platform that allows you to day trade, craft a portfolio that aligns to your financial goals, and has ample resources to help you make simple financial decisions.

Ally offers a simple way to start investing today.

Source: Ally.com

Account Types:

  • Self Directed Taxable Investment Account
  • Managed Taxable Investment Account
  • Traditional IRA & Roth IRA

Commissions: None. $0 Per Trade.

Sign Up Promotion: $50 – $3,500 (May Vary Depending On Qualifying Deposit)

Ally Invest Managed Account Services

Benefits:

  • $100 Opening Account Minimum
  • Automatic Rebalancing & Investing
  • No Advisory Fee’s or Hidden Fees

Drawbacks: 

  • No Control Over Investment Decisions
  • Does not Optimize for Tax Loss Harvesting
  • Ally Bank Has no Physical Branches

Ally Invest Self Directed 

Benefits:

  • Commission-Free
  • $3,500 Cash Bonus with Qualifying Deposit
  • Robust Trading Platform
  • Advanced Tools & Resources to Help You Out

Drawbacks:

  • Account Does not Re-Balance Automatically
  • Mutual Funds encounter a low transaction fee

4. ROBINHOOD

Pioneering commission-free trading, Robinhood is a great app if you are a ‘do it yourself’ investor. Powered by advanced technology, this investment app allows you trade stocks, ETFs, index funds, options, and crypto currency all for free. Above all, Robinhood makes it incredibly easy for you to sign-up! For real, this app is great if you have a small account balance and just want to learn the details of managing an investment portfolio.

Robinhood is A Commission Free Investing App for Investors.

Source: Robinhood.com

Account Types:

  • Taxable Investment Account

Commissions: $0 Per trade

Sign Up Promotion: None Currently Available

Benefits:

  • $0 Account Minimum
  • Commission-Free
  • Can Easily Trade Options & Crypto Currency

Drawbacks:

  • Lacks In Depth Research
  • Cannot Invest in Bonds or Mutual Funds
  • No Retirement Accounts

5. M1 FINANCE

As a relatively new investment app and brokerage, M1 Finance has carved out a healthy niche and attracted a legion of fans. M1 Finance provides users with a clean and user-friendly interface, diverse selection of assets to invest in, and of course, low fees. Whether you want a powerful robo-advisor or prefer to manage your portfolio yourself, then M1 warrants serious consideration.

Currently, M1 offers both Retirement and a traditional taxable investment account. Best part, both accounts are fee-free if you have a qualifying deposit (typically $100 or $500). With over 6,000 stocks and funds to choose from, M1 is more than capable to serve your financial needs and goals.

A Premiere Commission free Investing App.

Source: M1Finance.com

Account Types:

  • Individual Taxable Investment Account
  • Joint Investment Account
  • Retirement Account
  • Wealth Trust

Commissions: $0 Per Trade.

Sign Up Promotion: Not Available

Benefits:

  • Commission Free Trading
  • Fractional Share Investing is Available
  • Automate Your Portfolio with their Robo-Advisor
  • Robo-Advisor Automatically Re-Balances Your Portfolio

Drawbacks:

  • Only Stocks & ETFs are Available to Invest in
  • Portfolio is Not Optimized for Tax Loss

Learn More: Read our M1 Finance Review.

6. STASH INVEST

Are you looking for personal guidance, education content, and automation? Then look no further. Stash is one of the best investment apps on the market – rightfully so. Stash is a great app to download if you are ready to learn the art of portfolio management and are eager to start investing with ease.

Stash offers a fun and friendly investing experience, so you are not overwhelmed. Here is how it works. Once downloaded, Stash will ask you a few simple questions. Fret not, this is so they can get an idea of your risk tolerance, level of experience, and goals. From here, Stash will provide you tailored guidance, so you can make a simple and smart financial decision.

Broken up into ‘themes,’ Stash compiles certain companies together so you can invest in all of them, instead of putting all of your money into one. This feature is great as it spreads your risk across multiple companies, and limits your exposure to a certain industry or sector. Again, Stash only offers you suggestions, which is why this is a great investment app to learn from.

Stash Investing Platform

Source: Stashinvest.com

Account Types:

  • Individual Taxable Investment Account
  • Retirement Accounts
  • Custodial Accounts

Commissions: $0 Per Trade.

Sign Up Promotion: Earn An Additional $560 With A Qualifying Deposit

Benefits:

  • Phenomenal Educational Content
  • Invest in Fractional Shares
  • Risk Adverse Investment ‘Themes’

Drawbacks:

  • Can’t Automate Investments

7. FIDELITY INVESTMENTS

Fidelity, another world renowned financial institutions, offers investors over 3,500 fee-free mutual funds. Accompanying their low-fees is a robust trading platform and mobile application which make investing incredibly easy. Whether you want to buy a new stock, research, or read news articles, Fidelity allows you to do it all from their investment app. Like we have said, the low-fees and resources make Fidelity the best option for long-term investors. Fret not, if you run into any questions, Fidelity will be sure to help you out with their top-notch customer service.

Fidelity Provides Customers with an Intuitive Mobile Investing Experience.

Source: Fidelity.com

Account Types:

  • Both Traditional & Roth IRA
  • 529 College Savings Plan
  • Taxable Brokerage Account

Commissions: $0 Per Trade.

Sign Up Promotion:Not Available Currently

Benefits:

  • Enjoy Comission-free trades on ETFs, Index Funds, Stocks, & Options
  • Over 3,500 No Transaction Fee Mutual Funds
  • Great Customer Service
  • In-depth Market Research & Analysis

Drawbacks:

  • Website is Overwhelming at First
  • Expensive Fee to Use Broker to Assist You in Trades

8. TD AMERITRADE

As one of the most reputable brokerages around, it is no wonder they also have one of the best investment apps currently available. Backed by powerful and advanced technology, their mobile app is easy-to-use and is well suited to educate any and all investors.

Whether you are a day trader or focused on long-term investing, TD Ameritrade’s investment app allows you to view and analyze in-depth market research, compare companies, analyze data, and view educational videos.

Better yet, this investment app allows you to view your portfolios performance, make trades, and set up alerts so you never miss any breaking news.

TD Ameritrade is the best investing app for day traders.

Source: TDAmeritrade.com

Account Types:

  • Standard Taxable Investment Account
  • Education Accounts
  • Retirement Accounts
  • Managed Portfolios

Commissions: $0 Per Trade.

Sign Up Promotion: Earn An Additional $600 With A Qualifying Deposit

Benefits:

  • Advance & In Depth Stock Market Research
  • Stock, Option, & ETFs are Commission Free
  • Strong Customer Service
  • Wide Selection of Assets to Invest in
  • $0 Account Minimum
  • The Best Trading Platform

Drawbacks:

  • Platform Takes a While to Get Used to
  • Using a Broker to Place Trades is Expensive

9. E*TRADE

E*Trade’s mobile investment app has served as a home for millions of investors who enjoy detailed educational resources, commission free trades, and a strong trading platform. With E*Trade you have access to thousands of stocks, ETFs, index funds, mutual funds, bonds, and everything in between. The low-fees and easy-to-use mobile app make this a great platform for “do it yourself” investors and day traders.

Aside from the plethora of resources, E*Trade’s app also allows you to view breaking news from CNBC, Marketwatch, Wall Street Journal, and more. Within the app, you can customize your stock watch list and turn on alerts, so you do not miss the next big investment opportunity.

E*Trade is one of the Best Investing Apps around.

Source: us.etrade.com/home

Account Types:

  • Standard Taxable Investment Account
  • Professional Managed Portfolios
  • Retirement Accounts
  • Small Business Retirement Accounts

Commissions: $0 Per Trade.

Sign Up Promotion: Earn Between $100 – $2,500 With A Qualifying Deposit

Benefits:

  • One of the Best Trading Platforms
  • Easy-to-use Mobile App
  • Commission Free Trades on Stocks, ETFs, Options, and More
  • Create a Tailored Stock Watch List
  • Robust Research is Provided for you to view

Drawbacks:

  • Hard to Navigate Website if you are new
  • Does Not Offer Guidance or Investment Suggestions

10. MERRILL EDGE

If you are a proud Bank of America member, then look no further. Merrill Edge is owned and operated by Bank of America, so naturally, they integrated both platforms seamlessly. With low-fees, a plethora of market analysis, and a user-friendly mobile investment app, it is no wonder Bank of America’s customers constantly tout the benefits of Merrill Edge.

Merrill Edge Top Investment App

Source: merrilledge.com

Account Types:

  • Standard Taxable Account – Self Directed
  • Professional Managed Portfolios – Merrill Edge Guided Investing
  • Retirement Accounts
  • 529 College Savings Account

Commissions: $0 Per Trade.

Sign Up Promotion: Take An Additional $600 With A Qualifying Deposit

Benefits:

  • Third Party Market Research
  • Great for Bank of America Customers
  • User-Friendly Mobile Investment App

Drawbacks:

  • Not the Best for Beginners

11. FUNDRISE

Ever thought about investing in real estate? Fundrise allows you to do just that. Pioneering the real estate crowdsourcing industry, Fundrise allows you to invest in apartment complexes and other diverse real estate deals across the United States. As an investor, you can choose between supplemental income or long-term growth investing, which ever one aligns with your financial goals.

Don’t worry, like you, I had many questions about this platform. Fortunately, Fundrise has a team of experts who are eager and ready to answer any and all of your questions.

Fundrise is the best investment app for real estate.

Source: Fundrise.com

Account Types:

  • Standard Taxable Account
  • Retirement Accounts ($1,000 Minimum)

Commissions: 0.85% Account Management Fee.

Sign Up Promotion: Not Currently Available

Benefits:

  • Invest in a wide range of Real Estate Deals
  • User-Friendly & Easy to Monitor Account

Drawbacks:

  • Expensive Fee to withdraw Money

What is the Best Investment App for Beginners?

If you are looking to get your feet wet and learn the ins and outs of investing, then Acorns is your best bet. Their roundup system makes it easy for you to grow your investment over time, earn a steady return, and remain hands off. Above all, Acorn’s also offers rich in depth educational resources. The best part is that Acorn’s already has customized portfolios that you select from. They already did the research, you as their customer, just have to select whichever one aligns with your financial goals and needs.

Looking Ahead: Best Online Brokerage Accounts for Beginners.

What is the Best App for Investing?

Listed above, we outlined the best app’s for investing. Our team spent hours compiling the best apps and analyzed each one thoroughly. Again, the best app for investing is one that is tailored towards your financial goals, provides market research, and is user-friendly. Whether you want to invest in real estate, stocks, ETFs, or mutual funds, our coveted list of the best investment apps will allow you to do that and more.

Are Investing Apps Worth It?

Yes! 100%. Investing apps allow you to start investing immediately, which is crucial if you are trying to increase your net-worth and live the life you deserve. Remember, investing is a game of ‘time,’ and the more ‘time’ you have on your side the better. Here is the deal, an investing app allows you to start investing today. Better yet, most of the apps all offer generous educational resources which will guide you and help you make smart calculated financial decisions.

 

Drew Cheneler
Drew Cheneler
Drew is a recognized Credit, Small Business, and Personal Finance Expert. He has been quoted in CNBC, The Huffington Post, Business.com, Moneyunder30, and more. He is known for breaking down complex personal finance topics into action-oriented advice, so you can make the most of your hard-earned money.