More Americans are investing in either the stock market, mutual funds, or retirement pension. In the past years, people were uncertain about investing their money in stock trading, but today, first-time investors have access to best stock trading apps that help them make investment decisions.
While investing in the stock market for the first time can seem like an overwhelming experience, technology has made it easier to make profitable investments.
The best stock apps for first-time investors offer investment research, user-friendly interface, and help you learn how to invest. In fact, one can start investing with as little as $1 a month.
Want to trade stocks but don’t know where to start? There’s an app for that! Read on to discover the best stock apps for newbie investors.
Acorns is one of the best trading apps for beginners because it allows you to invest your spare change. All it takes is for you to link your bank account, and the app will track your consistent expenditure and round up all the purchase to the next dollar.
The money is then transferred to your Acorns account for investment. You will be required to fill a questionnaire when signing up for an account and based on this questionnaire, Acorns will spontaneously build a portfolio of stock and bond investments for you.
As a first time investor, you don’t want to worry about commissions in the stock market while investing. Robinhood is a stock trading app that allows you to invest in stocks, ETFs, options, and cryptocurrencies, all commission-free in your mobile phone or desktop at the comfort of your home.
All you need to do is make an application on their app, and once you meet the requirements, you are good to go. When investing, it is best to use a tool that lets you calculate the exposure or limit provided. As a first time investor, this tool will be useful for you when trading in stock markets.
Stash is another stock investing app that lets you spend as little as $5. The Auto-Stash feature allows you to turn investments into a habit quickly. It also offers tips and tricks to grow your investing information. Saving and retirement options are also available.
After filling and completing your profile information when signing up, the stash will recommend a set of investments available for you. The best advantage of using this app is that the Exchange-Traded Fund (ETF) is organized into meaningful groups such that it’s easy to find the companies and values you prefer.
Try Any of These Best Stock Apps
Investing in the stock market as a first-time investor can seem like a daunting experience. But with the advent of technology, many companies have created some of the best stocks apps for newbie investors. Have your pick from the ones listed above.
While at it, keep reading our blog for more investment tips.