With the rise of financial technology, there are now numerous excellent investment apps available for individual investors. Choosing the right app that matches your investment style and goals is crucial. In this article, we will take a comprehensive look at 9 of the top investment apps in 2022 based on user base, features, ease of use and costs. These 9 apps cover a wide range of investment products including stocks, ETFs, crypto, automated investing and more. By comparing their key strengths and weaknesses, investors can find the perfect app to efficiently manage their portfolio. The apps we will analyze include Robinhood, Webull, M1 Finance, Betterment, Acorns, Coinbase, Public, SoFi Invest and Fidelity. These leading invest apps have transformed how millions of investors trade stocks, buy cryptocurrencies and build wealth.
Robinhood offers commission-free stock and crypto trading in a slick mobile app interface
Robinhood is one of the most popular invest apps with over 22 million users. Its strengths are an intuitive mobile interface, commission-free stock, ETF, options and cryptocurrency trading. However, Robinhood also faces criticism over lack of research tools, customer service issues and its business model relying on payment for order flow. Overall, Robinhood is great for active traders that want quick access to trading stocks and crypto without transaction fees.
Webull provides advanced trading tools and research for zero commission stock and options trading
Webull is another leading commission-free trading platform with over 15 million users globally. It offers advanced trading tools like Level 2 quotes, risk analysis and screeners that appeal to active traders. Webull also has a large library of investment research and education resources. The app supports trading stocks, ETFs, options and cryptocurrencies with no fees. One negative is Webull does not support automatic investing or retirement accounts. Overall, Webull is a good choice for DIY investors that want robust trading tools without paying commissions.
M1 Finance combines automated investing and commission-free trading in one app
M1 Finance merges easy automated investing with the ability to trade stocks and ETFs commission-free. Its auto-invest “pies” make setting up a globally diversified portfolio simple. M1 also offers customizable portfolios, fractional shares and retirement accounts like IRAs. The main drawback is M1 has limited research and analysis tools compared to dedicated trading platforms. However, for investors that want a hybrid robo-advisor and brokerage account, M1 Finance is a top choice.
Betterment provides effective and low-cost robo-advisor services tailored to your goals
Betterment is a leading robo-advisor with over 650,000 users and $35 billion in assets under management. It builds and automatically manages diversified ETF portfolios customized to an investor’s financial situation and goals. Betterment charges just 0.25% as an annual fee which is cheaper than traditional advisors. The app provides retirement planning, 529 college savings plans and unique socially responsible investing options. Betterment is ideal for hands-off investors that want professional portfolio management on autopilot.
Acorns offers micro-investing and robo-advising to help anyone start investing with just spare change
With over 10 million users, Acorns makes investing accessible to anyone by enabling small recurring or one-time investments from as little as $5. Its “round-up” feature invests your spare change from everyday purchases into a diversified ETF portfolio. For hands-free investing, Acorns provides robo-advisor services starting at just $1 a month. While not suitable for active trading, Acorns is perfect for beginning investors to easily build long-term wealth.
This comparison shows how the top invest apps each have unique strengths catering to different types of investors. Robinhood and Webull are great for cost-conscious traders, while Betterment and Acorns focus on automated investing. And M1 Finance combines both worlds. Evaluating your specific needs is crucial to pick the best investment app to efficiently manage your portfolio and achieve your financial goals.