In this post I will show you the best investment apps 2022, so without any further delay let’s start.
Whatever work we are doing, we need to choose the best tool to do the work to get the best result. Without the best tool, we cannot even expect the best result. Likewise, in investment also when you are making any investment, it is extremely important to choose a good investment app that will allow you to make your investment with the least hassle.
In trading, choosing the best investment app should be on the top of the priority list. In fact, If you want to become a trader, you need to be very careful to choose the best investment compared to an investor. But before choosing any investment app, we need to take care of a few things, so let’s talk about them first:
Things to consider before choosing any investment app
- Advanced options
- Cryptocurrency trading
Let’s dive into detail.
Before choosing any investment app, you should check for the charges of the app or platform. Investment platforms usually show that they have negligible charges, but after creating an account and doing some trades, people realise the hidden charges on the platform, and most of the people who get attracted by the lower prices tend to leave the platform/app.
That’s why before choosing any investment platform, you should always look for the hidden charges of the platform.
Trading and Investments and now not limited to only manual researches. Technology has advanced, and in the meantime, many great technologies have been developed which tracks the market and works like a robot to execute trade faster and to give a potentially big gain. This type of app reduces human effort and make the investment process easier.
Cryptocurrency is the future – this is the quote we continuously have been hearing for months. Why not? In recent months the value of the cryptocurrency has boomed, and that’s why millions of investors are showing interest to invest in cryptocurrency to get a massive amount of written in a very short period of time. taking care of that, most apps and platforms are integrating options to trade and invest in cryptocurrency in their traditional investing apps.
If you are a person interested in cryptocurrency and want to trade cryptocurrency, you should check whether your investment app supports cryptocurrency.
Now that we have understood some basic things that you should take care of while choosing your investment as let’s talk about some best investment apps of the United States to get started investing with:
- Fidelity Spire
Let’s dive into detail.
1. Betterment App
The name of the app suits it. Betterment is one of the most popular apps for investing in the United States.
In the betterment app, there is a section of ETF where you can find an excellent list of portfolios managed by professional investors. If invested for the long term, this can give you good returns.
One of the best features of betterment that makes it one of the best picks for investing is its Robo advising feature. For those who don’t know what Robo investing is – Robo advising is an advanced technology that uses its algorithm and artificial computing intelligence to execute trades – the best part about Robo investing is that it is a fully automated process.
The Robo investing facility creates portfolios protected from all kinds of weather – means it can deliver good performance instead of ups and downs in the market.
The platform charges some charges for the transactions made with it. Currently, it charges 0.25% of the invested amount per year. While this amount seems t be a fair amount, this amount that will be wasted for big investing (e.g., $10000) is about $ 25.
- Contains a special Robo-advisory feature.
- Custom portfolios based on life goals can be created.
- It charges a bit more than most other investing platforms.
2. Fidelity Spire Investment App
If you want a brand new app for investing with exclusively new features, you can try Fidelity Spire. Fidelity Spire is a beginner-friendly app. If you are an absolute beginner in trading/investing, we strongly advise you to go with Fidelity Spire rather than choosing any other apps made for professionals. Fidelity Spire has a simple UI.
The best thing about Fidelity Spire is that, unlike the previous one, it does not charge any annual fees regardless of the amount you invest in the app on a monthly/yearly basis.
Another great thing about the app is that you can even buy shares infractions with the Fidelity Spire app/platform. This means that you don’t have to buy a whole share. For example, currently, the share price of the company Alphabet is trading at 2789 dollars. With this app, you don’t have to pay the whole amount at Fidelity Spire; you can even start investing in the Alphabet share with a lesser amount.
For all these reasons, Fidelity Spire is one of the best apps for beginners. But still, Fidelity Spire is good for professionals too. In short, people of all levels can use the app for trading and investing.
- Perfect beginner-friendly app.
- It charges a very little charge compared to other apps.
- No feature for cryptocurrency trading.
3. E*TRADE Best investment App For Beginners
E*TRADE is an app particularly made for beginners who are interested in trading. So to kick off your trading journey as a beginner, you can go with E*TRADE.
E*TRADE Has a good review on major app downloading platforms like Apple Store and Google Play Store. Some data shows that it has got the prestigious platform of being one of the best broking apps for beginners. Though the app is best for traders, investors can also use it to start their investing journey.
As this app is made taking care of its beginner users, there are plenty of definitions of many terms related to the stock market available in the app.
With this app, you can open many types of accounts like IRAs. But if you plan to invest for a longer-term suppose for your child’s education, this app does not support 529 types of accounts.
Like the previous app, this app also has some automatic Robo services like premade portfolios.
- Has lower charges.
- Best for beginners.
- It does not allow to trade in cryptocurrency.
- This app is not fully recommended to investors who want to invest in child education in the longer run.
4. Binance.US is One of The Best investment Apps
Binance.US is one of the most popular cryptocurrency apps in the United States. If you are a trader or investor who wants to participate in the rally of Bitcoin and other cryptocurrencies, you can use this popular platform to trade cryptocurrencies.
The main problem with other trading apps supporting cryptocurrency trading is that they mainly focus on the stock market. That is why we don’t find enough range of cryptocurrency to trade in the app. But if you want only a cryptocurrency trading app and don’t want to focus on Wall Street, you should choose a trading app that is purely built to trade cryptocurrency.
Binance.US is one of the fewest cryptocurrencies platforms, and it is a full cryptocurrency trading app.
Binance.US charges comparatively lower fees while executing a trade than other cryptocurrency trading platforms.
- An app that is purely made to trade cryptocurrency.
- Comparatively low brokerage and other charges.
- The main app was banned in the United States in 2019.
What should be the main priority while choosing any investment app?
According to us, while choosing an investment app, always look for the reviews of other people who have used the platform.
Nowadays, opening an account in any investment app has become much easier. All you need to do is download the app on your mobile phone, follow the onscreen guide and submit some necessary documents required to open a trading account. You need to submit some basic information like your name, date of birth, annual income, etc. This list of documents may contain some identity proofs.
Well, it depends on the platform that you are using. Currently, most platforms do not require any account balance to invest. But you will require a good amount of money to invest in stocks with a platform that does not support fractional stock buying.
In this article, we have tried to discuss some best investment apps that you should use to get started with your investment journey. But we do advise you to do your research before choosing any investment app. We would also like to tell you to read other people’s reviews who have used that particular investment app to trade or invest.