Best Investment Apps 2024 – Top Picks for Smart Investors

Mobile apps have become the main way millions of Americans invest in stocks. About 58% of U.S. households own stocks now, according to a 2023 Investment Company Institute report, with young investors driving much of the growth through their phones. This guide looks at the top investment apps in 2024, covering what they offer, what they charge, and who they’re best for.

How We Evaluated These Apps

We looked at several factors that matter for most investors. Commission structures matter—even though many platforms have eliminated trading fees, it’s still worth checking. Account minimums matter too; several apps now let you start with nothing. We also considered research tools, how easy the app is to use, security features, and whether fractional shares are available, since those let you buy pieces of expensive stocks.

On the safety front, all legitimate U.S. investment apps must register with the SEC and belong to FINRA. SIPC insurance protects up to $500,000 per account if the broker goes under. These protections are standard across the industry, so you get this baseline protection regardless of which platform you choose.

Top Overall Investment Platforms

Fidelity Investments has long been a major player in brokerages, offering full services through web and mobile. You get commission-free trading on stocks, ETFs, and options, with no minimum deposit for standard accounts. Fidelity’s research includes market analysis, third-party reports, and real-time data. The mobile app scores well for being easy to use while still having solid features—good for beginners and experienced investors alike.

Charles Schwab stands out with its network of physical branches alongside its digital platform. Schwab offers commission-free trading, and its fractional share program lets you buy parts of expensive stocks with as little as $5. The platform’s own mutual funds include many with no transaction fees, which helps if you want diversified holdings.

Vanguard appeals especially to retirement-focused investors and people who want low-cost index funds. The mobile app gives you access to Vanguard’s large selection of index funds and ETFs. It’s great for long-term investors building retirement savings, though its research tools aren’t as extensive as what you’ll find at Fidelity or Schwab.

Best Investment Apps for Beginners

Robinhood made waves by removing the traditional barriers to investing. The interface is simple, which is why first-time investors gravitate toward it. Commission-free trading, no account minimums, and an easy mobile experience have drawn millions of young users. That said, Robinhood’s research tools are more limited than what you’ll get at established brokerages, and the platform has dealt with regulatory scrutiny over its order flow practices.

SoFi Invest is another good starting point, pairing investments with financial planning tools. Commission-free trading comes with access to financial advisors—which helps when you’re new and facing unfamiliar decisions. SoFi’s fractional shares include cryptocurrency, though digital assets are volatile and worth thinking carefully about before putting money there.

Acorns takes a different approach: micro-investing through automatic round-ups. Link your debit or credit cards, and Acorns rounds purchases up to the next dollar, investing the difference. This hands-off approach works if you want to build holdings gradually without actively managing your portfolio.

Best Apps for Low-Cost Investing

Even with commission-free trading, costs add up in other ways. Webull has become popular with cost-conscious investors—commission-free, no minimums. The platform gives you advanced charting and Level 2 market data that used to be only for professional traders. If you want sophisticated analysis tools without paying extra, Webull delivers.

TD Ameritrade (now part of Charles Schwab after the merger) still offers its Thinkorswim platform, which many traders consider one of the most powerful trading interfaces anywhere. The mobile app is user-friendly, but the desktop version has extensive research and technical analysis tools. Existing TD Ameritrade accounts still work, and the no-commission structure remains in place.

Interactive Brokers targets active traders who want the lowest costs, especially for international investing. Margin rates are competitive, and you get access to markets worldwide. The interface is harder to learn than consumer-focused apps, so it’s better for experienced investors willing to figure things out.

Investment Apps with Advanced Features

E*TRADE balances easy design with professional tools. It offers two platforms: Power ETRADE for active traders and the standard ETRADE for casual investors. Educational resources include webinars, articles, and interactive tools. Commission-free ETF trading and lots of investment options make it flexible.

Meredith Edge, backed by Bank of America, integrates smoothly with existing Bank of America accounts if you’re already a customer. You get research from Bank of America Securities plus access to human advisors if you want personalized help. The mix of digital convenience and human guidance works well for investors who want both control and support.

Understanding Investment App Security

Security is a real concern when you’re trusting an app with your money. Top investment apps use multiple protection layers: two-factor authentication, fingerprint or face login, and encryption for data moving between your device and their servers. SIPC insurance protects you if the broker fails, but it doesn’t cover losses from investments going down.

Before signing up, check that any platform is SEC-registered and FINRA-member verified. FINRA’s BrokerCheck website lets you verify registration and see any disciplinary history. Reading the privacy policy and security documentation helps you understand how your personal and financial information is handled.

Frequently Asked Questions

What’s the best investment app for beginners in 2024?

Robinhood and SoFi Invest have the lowest barriers to entry with simple interfaces and no minimums. Robinhood is simpler; SoFi throws in financial planning resources and advisor access. Fidelity also works well for beginners, with solid educational materials to help you learn.

Are investment apps safe?

Generally, yes, as long as you use regulated platforms. All legitimate U.S. investment apps must register with the SEC and FINRA. SIPC insurance covers up to $500,000 if the broker fails. But SIPC doesn’t protect you from losing money because your investments performed poorly or the market dropped.

Do investment apps charge hidden fees?

Many advertise commission-free trading, but you should read the fee schedule. Watch for expense ratios on mutual funds, withdrawal fees, inactivity fees, and margin interest. Check the fee disclosure before opening an account so you know what you’re actually paying.

Can I start investing with little money?

Yes. Fractional shares let you buy parts of stocks with as little as $1 on many platforms. Robo advisors and micro-investing apps like Acorns let you build a portfolio slowly through small, regular contributions.

What types of investments can I hold in these apps?

Most offer stocks, ETFs, mutual funds, bonds, and options. Some include cryptocurrency, fractional shares, and alternative investments. Check that your preferred investment types are available before committing to a platform.

Should I choose a robo advisor or a traditional brokerage?

It depends on your experience and preferences. Robo advisors manage your portfolio automatically with minimal work from you—good if you want a hands-off approach. Traditional brokerages give you more control and better research tools, but require more active management. Many investors use both for different purposes.

Conclusion

The investment app landscape in 2024 gives investors at every level more accessibility and features than ever before. Whether you want the simplicity of Robinhood or the sophisticated tools at Fidelity and Charles Schwab, you have more ways to get into the market.

Picking the right app isn’t about finding the one with the most features—it’s about finding one that fits your financial goals, experience level, and how you like to invest. New investors should look for low barriers to entry and good educational resources. Experienced traders might care more about advanced charting and research. Match the platform to your needs, and you’ll have a tool that actually supports your financial goals.