What to look for in a beginner investment app
A beginner investment app should let you start with a small amount of money — often $1 to $100 — without charging you per trade. It should show you what you own in plain language, not jargon. The app itself should be fast enough that you can check your balance without frustration, and the company behind it should be regulated by the SEC or FINRA so your money is actually protected if something goes wrong.
Most beginner apps fall into two types: brokers (where you pick individual stocks or funds) and robo-advisors (where the app picks a mix of investments for you based on your age and risk tolerance). Brokers give you more control. Robo-advisors give you less to think about. Neither is better — it depends on whether you want to learn by doing or prefer a hands-off approach.
Before you read anything, know what you want to invest in. If you want to own pieces of many companies at once without picking them individually, you want an app that sells index funds or ETFs (exchange-traded funds). If you want to pick individual company stocks, make sure the app doesn't charge a commission per trade. If you want the app to manage everything for you, look for a robo-advisor.
Key Takeaways
- Beginner apps should let you start with $1 to $100 and charge no commission per trade, so your money goes into investments instead of fees.
- Brokers let you pick what to buy; robo-advisors build a portfolio for you based on your age and how much risk you can handle.
- Check that the company is regulated by the SEC or FINRA before you send money, because that protection matters if the company fails.
- Index funds and ETFs let you own pieces of many companies with one purchase, which is simpler than picking individual stocks.
- Most beginner apps offer educational content — use it to learn what you're actually buying before you invest real money.
Broker apps where you pick individual stocks or funds
Fidelity, Charles Schwab, and Webull are three brokers that let you start small and own individual stocks, index funds, or ETFs. All three charge zero commission per trade, meaning every dollar you deposit goes to work. Fidelity and Schwab require no minimum deposit to open an account. Webull requires $0 to start but may charge a small fee if you want certain research tools.
Fidelity's app is built for people who want to learn. It shows you news about companies you own, lets you practice trading with fake money first (called "paper trading"), and has a learning section that explains what a stock actually is. You can start with a single share of any company, so you're not forced to buy a whole lot at once.
Charles Schwab's app is simpler and faster if you just want to buy and check your balance. It also offers fractional shares (meaning you can own $50 worth of a $500 stock instead of having to buy the whole thing). Schwab is owned by a large bank, so the regulatory protection is very solid.
Webull appeals to people who want more advanced charting tools and the ability to trade during extended hours (before the market opens or after it closes). The learning curve is steeper, so it's better if you've already read about investing elsewhere.
Robo-advisor apps that build a portfolio for you
Betterment, Wealthfront, and M1 Finance are robo-advisors that ask you a few questions about your age and how much risk you can handle, then automatically build and rebalance a portfolio of index funds for you. You don't pick individual stocks. The app does the picking.
Betterment has the lowest minimum to start: $0. It charges a small annual fee (usually 0.25% of what you have invested) unless you pay a flat $4 per month. The app is very clear about what it's doing and why. It's the most straightforward choice if you want to set money aside and not think about it.
Wealthfront also has a $0 minimum and charges 0.25% annually. It's nearly identical to Betterment in how it works, so the choice between them often comes down to which app interface you prefer. Both let you see exactly what funds you own and how much of your money is in each one.
M1 Finance charges no annual fee at all, but it requires a $500 minimum to start. In exchange, you get more control over which funds go into your portfolio, so it's a middle ground between a full robo-advisor and a broker. If you have $500 to invest and want the app to do most of the work but also want some say in what you own, M1 is worth considering.
Apps focused on fractional shares and micro-investing
Acorns and Stash let you invest very small amounts — sometimes as little as $1 — by rounding up your everyday purchases or setting a weekly savings goal. These apps are designed to make investing feel automatic and painless.
Acorns rounds up your purchases to the nearest dollar and invests the difference. If you buy coffee for $3.50, Acorns invests $0.50. Over time, small amounts add up. Acorns charges $3 to $5 per month depending on the plan you choose. It's best if you make frequent small purchases and want the app to handle the investing without you thinking about it.
Stash works similarly but also lets you pick from a menu of themed portfolios (like "Tech Leaders" or "Dividend Growth") so you have more control than Acorns gives you. Stash charges $0 to $9 per month depending on the plan. It's a good middle ground if you want automatic investing but also want to learn what you're buying.
Apps that teach while you invest
Fidelity, Schwab, and Webull all include educational content in their apps, but some apps are built specifically to teach. Moomoo and Public are brokers that emphasize learning and community.
Moomoo offers commission-free stock and options trading with a $0 minimum. The app includes video lessons, market news, and a social feed where you can see what other investors are buying. It's designed to feel less intimidating than traditional brokers. The downside is that the social feed can encourage you to follow the crowd instead of thinking for yourself.
Public also charges zero commission and has a $0 minimum. It emphasizes transparency — you can see exactly what the company makes money from and how much it costs you. The app includes educational content and a community feed. Public is newer and smaller than Fidelity or Schwab, so the regulatory protection is still solid but the company has less history.
How to compare these apps side by side
| App | Type | Minimum to Start | Commission per Trade | Annual Fee | Best For |
|---|---|---|---|---|---|
| Fidelity | Broker | $0 | $0 | $0 | Learning while you invest |
| Charles Schwab | Broker | $0 | $0 | $0 | Speed and simplicity |
| Webull | Broker | $0 | $0 | $0 (optional tools cost extra) | Advanced charting and extended hours |
| Betterment | Robo-advisor | $0 | N/A | 0.25% or $4/month | Hands-off investing |
| Wealthfront | Robo-advisor | $0 | N/A | 0.25% | Hands-off investing |
| M1 Finance | Robo-advisor (hybrid) | $500 | N/A | $0 | Control without constant management |
| Acorns | Micro-investing | $0 | N/A | $3–$5/month | Automatic round-up investing |
| Stash | Micro-investing | $0 | N/A | $0–$9/month | Automatic investing with theme selection |
| Moomoo | Broker | $0 | $0 | $0 | Learning from a community |
| Public | Broker | $0 | $0 | $0 | Transparency and education |
What to do before you read anything
Open the app on your phone or computer and look at the account opening screen. It should ask for your name, address, and Social Security number — that's normal. It should also tell you that the company is regulated by the SEC or FINRA. If it doesn't mention regulation anywhere, close the app and pick a different one.
Read the fee schedule. Some apps hide fees in the fine print. A $0 commission per trade is good. An annual fee of 0.25% or less is reasonable. Monthly fees of $3 to $5 are fine if you're using the round-up feature. Anything more than that, and you're paying more in fees than most beginners should.
read the app and spend 10 minutes clicking around without putting money in. Can you find your account balance? Can you see what stocks or funds the app sells? Can you understand the language it uses? If the app confuses you after 10 minutes, try a different one. You'll be using this app for years, so it should feel natural to you.
Frequently Asked Questions
Do I need to pick a broker or a robo-advisor, or can I use both?
You can use both. Many people start with a robo-advisor to learn how investing works, then open a broker account later to pick individual stocks. You can also use a broker for stocks and a robo-advisor for index funds at the same time. There's no rule against it, and it can actually help you learn faster because you'll see the difference between active picking and automatic management.
Which app is safest if the company goes out of business?
All of the apps listed here are regulated by the SEC or FINRA, which means your money is protected by SIPC (Securities Investor Protection Corporation) up to $500,000 per account. Fidelity and Charles Schwab are the largest and oldest, so they have the most history. Public and Moomoo are newer but still regulated. The size of the company matters less than whether it's regulated.
Can I move my money to a different app later if I change my mind?
Yes. You can transfer your stocks and funds from one app to another in a process called an ACAT transfer. It usually takes 3 to 7 business days and is free. Some apps charge a small fee ($0 to $75) to process the transfer, but many don't. Check the app's website for its transfer policy before you open an account if this matters to you.
What's the difference between a stock and a fund?
A stock is a piece of one company. A fund is a basket of many stocks (or bonds, or both) mixed together. If you buy a stock in Apple, you own a tiny piece of Apple. If you buy an index fund that tracks the S&P 500, you own a tiny piece of 500 different companies. Funds are simpler for beginners because you're not betting everything on one company.
Do I have to use the app's educational content, or can I just start investing?
You can start investing without reading anything, but you shouldn't. Spend at least an hour learning what a stock is, what a fund is, and what your risk tolerance means before you put real money in. Most of these apps have 5- to 10-minute videos that explain the basics. Use them. The time you spend learning now will save you money later.