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Five years ago, you needed a broker, a minimum deposit of a few thousand dollars, and some knowledge of how the stock market worked just to get started investing. Today, you can download an app, put in $5, and own a piece of the stock market in about 10 minutes.
The problem now isn’t access – it’s choice. There are dozens of investing apps out there, and they all claim to be “the best for beginners.” So which ones actually are?
This guide breaks down the five most popular investing apps in plain English – what they do well, what they don’t, and who each one is best for. No finance degree required.
What to Look for in a Beginner Investing App
Before we get into the reviews, here’s what actually matters when you’re just starting out:
- Low or no fees. A $5/month fee sounds small, but it eats a big chunk of a small portfolio.
- Easy to use. You shouldn’t need a tutorial to make your first investment.
- Low minimum deposit. Some apps let you start with $1. Others need $500 or more.
- Educational resources. The best apps teach you as you go.
- Safety and legitimacy. Look for FINRA registration and SIPC protection.
- Completely free to trade – no commissions
- Fractional shares – buy any stock with as little as $1
- Simple, clean interface – easy to navigate
- High-yield cash account – 4.9% on your cash
- No account minimum – open with $0
- Customer service is limited – mostly in-app chat
- Advanced tools are lacking – not great for experienced investors
- Options trading can be risky – easy to stumble into features you don’t understand yet
- No retirement accounts on free plan – need Gold ($5/month) for IRA access
- Totally automated – great for people who don’t want to think about it
- Round-up feature makes investing painless
- Diversified portfolios built by financial experts
- Retirement account included in personal plan
- “Found Money” feature gives you cash back when you shop at partner brands
- $3/month fee – on a very small portfolio, this is a high percentage cost
- Less control – you don’t pick individual stocks
- Slower growth at first – round-ups alone won’t build serious wealth fast
- Not great for people who want to be involved in their investments
- Professional portfolio management without paying a financial advisor
- Goal-based investing keeps you focused
- Automatic rebalancing – always optimized
- Tax-loss harvesting saves money on taxes
- Retirement accounts (Traditional and Roth IRA) included
- 0.25% annual fee – fair, but does add up on large portfolios
- No individual stock picking – it’s all managed for you
- $10 minimum to invest – very accessible
- Not ideal if you want to trade actively
- Easiest crypto platform to use for beginners
- Most regulated and trusted crypto exchange in the US
- Earn free crypto through educational content
- Supports hundreds of coins
- Insurance on USD balances
- Fees can be high – typically 1.5%-3.99% per transaction
- Crypto is volatile – it can drop 50% in a few months
- Not traditional investing – crypto is speculative
- Customer support is slow
- CopyTrader is genuinely unique and useful for beginners
- Social community – you can see what others are investing in
- Commission-free stock trading in the US
- Fractional shares available
- Crypto and stocks on the same platform
- $10 minimum deposit, but $50 minimum to copy trade
- $5 withdrawal fee – annoying for small accounts
- Withdrawal process can be slow
- CopyTrader doesn’t guarantee results – you’re still copying other humans who can be wrong
- complete guide to investing as an hourly worker
- full Robinhood review for working people
- $1,000 Emergency Fund Challenge
With that in mind, let’s get into it.
1. Robinhood – Best for Learning How to Pick Stocks
Overall rating: 4.5/5
Robinhood is probably the most well-known investing app in America. It became famous for making stock trading free – before Robinhood, you’d pay $5-$10 every time you bought or sold a stock.
What It Does
Robinhood lets you buy and sell stocks, ETFs (think: baskets of stocks), options, and even crypto – all with no commission fees. You can also buy fractional shares, which means if Amazon is trading at $180 a share, you can buy $10 worth instead of needing the full amount.
It also has a cash management feature with a 4.9% APY on uninvested cash – which beats most regular savings accounts.
Pros
Cons
Who It’s Best For
Robinhood is ideal if you want to learn how investing works, like having control over what you buy, and want to start with very little money. It’s a great first step for curious beginners.
2. Acorns – Best for Hands-Off, Automatic Investing
Overall rating: 4.5/5
Acorns is built for one thing: making investing so easy and automatic that you barely have to think about it.
What It Does
Acorns has a “round-up” feature that connects to your bank account or debit card. Every time you make a purchase, it rounds up to the nearest dollar and invests that spare change. Buy a $3.50 coffee? Acorns rounds it to $4.00 and invests $0.50.
You can also set up automatic recurring investments – daily, weekly, or monthly. Acorns puts your money into a diversified portfolio based on your goals and risk level. You don’t pick stocks. You don’t manage anything. It just runs.
Pros
Cons
Who It’s Best For
Acorns is perfect for people who want to start small and set it and forget it. If the idea of picking stocks stresses you out, this is your app. It’s also great for young people building their first investing habit.
3. Betterment – Best for Long-Term, Goal-Based Investing
Overall rating: 4.5/5
Betterment is what’s called a “robo-advisor.” Instead of picking stocks yourself, Betterment’s algorithms manage your portfolio based on your goals. Want to retire at 60? Save for a house in 5 years? Betterment builds a portfolio for that specific goal.
What It Does
You answer a few questions about your financial goals and timeline. Betterment builds you a personalized investment portfolio using low-cost index funds and automatically rebalances it over time – meaning it adjusts your investments as the market shifts to keep you on track.
It also does something called tax-loss harvesting, which is a fancy way of saying it helps reduce your tax bill by selling investments at a loss to offset gains. This matters more as your portfolio grows.
Pros
Cons
Who It’s Best For
Betterment is excellent for people with a longer time horizon – say, saving for retirement 10-30 years out. It’s also great if you want professional-level portfolio management without paying professional-level fees.
4. Coinbase – Best for Getting Into Crypto
Overall rating: 3.5/5
Coinbase is the largest and most reputable cryptocurrency exchange in the US. If you want to buy Bitcoin, Ethereum, or any other major crypto, Coinbase is the safest place to do it.
What It Does
Coinbase lets you buy, sell, and hold cryptocurrency. It supports hundreds of coins but most beginners stick to Bitcoin (BTC) and Ethereum (ETH) – the two biggest and most established.
It also has a “Learn and Earn” feature where you can earn small amounts of crypto just by watching short educational videos. Great way to dip your toe in.
Pros
Cons
Who It’s Best For
Coinbase is for people who want to add a small amount of crypto (5-10% of their investments, max) to their portfolio. It’s NOT a replacement for stock market investing – think of it as a side experiment, not your main strategy.
5. eToro – Best for Social and Copy Trading
Overall rating: 3.5/5
eToro is popular worldwide and has a unique feature called “CopyTrader” – you can literally copy the trades of experienced investors automatically. If they buy something, your account buys it too, in the same proportions.
What It Does
eToro is a multi-asset platform that lets you trade stocks, ETFs, and crypto. Its social feed lets you follow other investors, see what they’re buying, and engage with a community. The CopyTrader feature automatically mirrors a chosen investor’s portfolio.
Pros
Cons
Who It’s Best For
eToro is best for people who learn by watching and want a community feel. If you like the idea of following experienced investors and learning from their moves, it’s worth trying.
Side-by-Side Comparison
| App | Best For | Minimum | Fees | Stock Trading | Crypto |
|---|---|---|---|---|---|
| Robinhood | Learning to pick stocks | $0 | Free (Gold: $5/mo) | ? | ? |
| Acorns | Auto investing + round-ups | $0 | $3/mo | ? (portfolios only) | ? |
| Betterment | Long-term goals / retirement | $10 | 0.25%/yr | ? (portfolios only) | ? |
| Coinbase | Crypto only | $2 | 1.5-4% per trade | ? | ? |
| eToro | Social / copy trading | $10 | Free (withdrawal fee) | ? | ? |
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