21 Best Investment Apps of 2023 (Ultimate Comparison)

This is the ultimate guide to the best investment apps that give you access to thousands of stocks from companies you love.

What’s your excuse for not investing in stocks, ETFs, real estate, and crypto?

54% of Americans say they don’t invest because they don’t earn enough money to invest. What’s your excuse?

If you choose the best investment app, all you need to start investing is $5 to $50.

Most of these investment apps have low-to-zero fees and easy-to-use interfaces. M1 Finance, Robinhood, Webull, DEGIRO are great examples.

In this in-depth guide, you’ll discover:

• What the best investment apps are
• What an investing app is
• What to consider when choosing an investing app
• How to avoid paying ‘hidden’ fees
• The benefits of using investment apps to find, invest, and profit.
• And lots more…

If you’re ready, let’s get started.

What Are The Best Investments Apps?

Here are my top picks for the best investments apps for 2023:

Alright, let’s dive right in. Here’s a breakdown of the 21 best investment apps of 2023:

1. M1 Finance

Best overall investment app

M1 Finance lets you manage your money with ease. The M1 Finance investment app offers an advanced level of customization.

This low-cost Robo-advisor for self-directed investors will let you set up automated transfers, portfolio rebalancing, and fund selection.

If you prefer, you can even pay for premium features such as goal planning and financial calculators.

There are no hidden fees or commissions, so you can invest completely for free.  

Key Features

• Customizable investing with zero commission
• Access credits at just 3.5% interest with M1 Borrow
• Free digital checking: Get 1% APY with M1 Plus
• Earn up to 10% cashback when you use Owner’s Rewards Card
• Build long-term wealth with Custodial accounts

Pros

• It’s easy to use and navigate
• You’ll not be charged any commissions
• No account management fees
• It allows fractional share trading
• Get access to banking and loans via the app

Cons

• No tax-loss harvesting        
• No access to human advisors
• Only available to US citizens / residents

M1 Finance Fees

M1 Finance have 4 different financial plans. Let’s break them down:

• Invest: Smart transfers, Custodial accounts, $0 trading commissions
• Borrow: You’ll be charged a 2% interest rate, 3.5% without M1 Plus, no application, pay whenever you want, $2,000 balance minimum, etc.
• Spend: Checking: 1% APY, 1% cashboack, 4 monthly ATM fee reimbursements, 0% international fees, etc.
• Spend: Credit: $95 fee waived for members, earn 1.5% to 10% cashback, Visa Signature, and more.

Account minimum	$100
Commission Fees	$0.00 (misc fees may apply)
Interest paid of cash balances	1% (for M1 Plus users only)

2. Robinhood

Best investment app with zero commissions

Robinhood is a commission-free investment app. The Robinhood investment app can be used to invest in stocks, bonds, mutual funds and crypto.

Robinhood is only available to US residents / citizens. You can access your Robinhood account in almost all countries, with the exception of Cuba, Iran, North Korea, Syria, and the Crimea region of Ukraine.

If you’re new to investing, a Robinhood investment app is an excellent way to start.

It offers a simple, streamlined interface and no commission trading, and it has a website interface as well.

Key Features

• Invest in 5,000+ stocks (starting with $1)
• Customize your portfolio with different companies and funds
• Trade shares in real-time to maximize profit
• Manage your investments on the go with the mobile app
• Earn 0.30% APY on your deposits

Pros

• Fast and fully digital account opening
• Get 1 free stock after linking your bank account (keep or sell it after 2 trading days)
• Easy-to-use mobile and web trading platforms
• Zero commissions for accounts that trade US-listed securities
• It supports cryptocurrency trading

Cons

• The commission-free trading doesn’t apply to every trader
• No retirement accounts
• Mutual funds and bonds are not supported by the app
• Only available for US citizens / residents

Robinhood Fees & Pricing

Maintenance Fees	0% (no fees are charged to open, close, or maintain a brokerage account)
Card Replacement Fee	Robinhood doesn’t charge to replace a stolen, lost, or damaged card. They’ll mail you a new one for free
Minimum Deposit Amount	$0
Trading Activity Fee	$0.000130 per share (equity sells) and $0.00218 per contract (options sells).  or $6.49 which is based on the execution of the order and it can happen in multiple parts.

It’s free to sign up for a standard Robinhood account. That said, Robinhood also has a premium Gold plan, which cost $5 per month.

With Robinhood Gold you’ll get access to research reports and advanced market data, get bigger instant deposits, and borrow money at a 2.5% interest rate if eligible.

3. Webull

Best investment app with smart trading tools

Webull simplifies the complex process involved with investing in stocks, trading, and general investments.

The Webull investment app is a new way to trade stocks.

It offers commission-free brokerage accounts with no minimum balance requirements, no trading fees, and 2 free stocks worth up to $3,000.

As an added incentive, the Webull app will credit both your account and your friend’s account with a ‘reward’ stock each time they sign up for an account.

Key Features

• Invest in 1,000s of companies (start with $5)
• Easy-to-use trading tools to create your own portfolio
• Diversify your portfolio with stocks, fractional shares, ETFs, options, and ADRs
• Buy and sell securities and assets with Individual Brokerage Accounts

Pros

• It’s an intuitive and easy-to-use app
• Trade popular cryptocurrencies (BTC, ETH, LTC, DOGE, SHIB, etc.)
• Commission-free trading on U.S.-listed stocks, ETFs, and options
• Get 2 free stocks when you signup and connect your bank account
• No minimum deposit or annual fees

Cons

• It lacks automated investment tools as Robinhood does
• It doesn’t allow joint brokerage accounts
• Mutual funds, fixed income securities, and bonds are not supported
• Only available to US citizens / residents

WeBull Fees

Webull charges $0.00 commissions on stocks, ETFs and options listed on U.S. exchanges.

However, some regulatory agencies still charge fees, some of which are passed from the broker-dealer to clients and are regarded as a pass-through transaction.  

4. SoFi Invest

Best investment app for US residents

SoFi’s investment app is easy to use and provides a simple way to invest in stocks and other assets.

You can choose to start investing with $1, and you can adjust your risk tolerance if you want.

SoFi is short for “Social Finance.”

The mobile app is free, and it is available on both Android and iOS devices.

It also allows you to track your investments and make real-time updates, so you can be on the go while you are at work.  

Key Features

• No account or management fees
• Active or automated investing
• Access to cryptocurrency
• Complimentary access to Certified Financial Planners (CFPs)
• Invest in fractional shares of company stock

Pros

• No minimum to start investing
• Zero trading and account setup fees
• Access to Certified Financial Planners at no extra cost
• Trade cryptocurrencies, including BTC, ETH, and other digital assets

Cons

• It’s not available globally (only to U.S. residents)
• Stop-loss orders are not allowed

SoFi Invest Fees

Trading Fees	0%
Cryptocurrency Trading Fees	1.25%
Account Minimum	$0 (start investing with $1)
Annual Transfer Fee	$75 full outgoing transfer fee.

5. Charles Schwab

Best all-in-one investment plan

Charles Schwab offers an excellent investment app for investors on the go.

The app offers many features, such as free stock trading and IRA deposits.

It also has two Robo-advisor services, which are used to build, monitor, and automatically rebalance a diversified portfolio based on your goals.

You can download this app for your iPhone or Android device.

For first-timers, the Charles Schwab investment app offers an “investor’s portfolio,” which lets you invest a single share of a particular stock.

Key Features

• Invest in and trade stocks, ETF, and options
• Access to Robo-advisor: a premium service that guides your investment actions
• An intuitive mobile app to track your investment on the go
• Invest in cryptocurrency stocks (Coinbase, Square, PayPal, Silvergate Capital)

Pros

• The app is easy to use
• Commission-free stock, options, and ETF trades
• FDIC insurance cover of up to $250,000
• Enjoy the benefits of Individual, Joint, and IRA accounts

Cons

• Navigating the website is hard, too many bells & whistles
• A low-interest rate of 0.05% APY is a turnoff for investors

Charles Schwab Fees

Trading Fees	$0 (zero commissions on online trades)
Account & Trade Minimums	$0 (no trade minimums, no account minimums)
Options	$0 online base commission + $0.65 per contract fee
US Over-The-Counter (OTC) Equities	$6.95
Schwab Mutual Fund OneSource	$0 + $25 service charge for Broker-Assisted Trades

6. Interactive Brokers

Best investment app for investors with diversified portfolios

Interactive Brokers offers an investment app that makes Investing easy and convenient.

You can easily access your account and track your portfolio from anywhere. It offers free, diversified research and news services.

One of the best features is the Impact Dashboard, which lets you invest based on your own criteria, including gender equality, animal testing, etc.

To make your investment decisions easier, you can choose from the 10 categories and filter out investments that don’t adhere to those principles.

Key Features

• Invest globally in stocks, options, bonds, etc.
• Access your investment portfolio from a single integrated account
• Lowest commissions (starting at 0.2%)
• Optimize trading speed with IBKR’s suite of technology
• Earn extra income on your lendable shares

Pros

• Easily invest in companies that share your value
• Enjoy lowest commissions (starting at $0.2)
• Over 7,000 mutual funds to invest in with no transaction fee
• Find and invest globally in stocks, bonds, and currencies from a single dashboard
• Deposit money in your local currency and trade global stocks

Cons

• Complicated desktop trading platform
• Account opening process isn’t as straightforward as some other investment apps

Interactive Brokers Fees

IBKR Lite	IBKR PRO
IBKR Lite gives retail clients $0 commissions on US-listed stock and ETF trades — with no account minimums and no inactivity fees.	IBKR Pro is ideal for sophisticated investors and active traders. IBKR Pro clients access the IB SmartRoutingSM system, which provides $0.47 per 100 shares price improvement vs. the industry.

7. Wealthfront

Best long-term investment app

Wealthfront offers an intuitive investment app that helps users grow their investments without having to spend too much time figuring out how to use it.

The onboarding process is simple and straightforward, and it begins with a series of questions that allow you to tailor the app’s recommendations to your own situation.

For example, it asks you about your risk tolerance and how likely you are to panic when the market goes down.

This helps the app builds an optimal portfolio based on your profile and your preferences.

Key Features

• Build long-term wealth with a diversified portfolio
• Explore hundreds of funds across dozens of categories (tech, clean energy, etc.)
• Automate your investing process to maximize profits
• Borrow up to 30% of your account at a low rate (2.40% to 3.65%)
• Get your loans approved instantly. No application process or credit check is required

Pros

• It’s ideal for long-term investors
• Easily transfer money to your checking, investment, and savings accounts
• Enjoy low fees (starting at 0.25% annual fee)
• Easy-to-use investment app with intuitive interface
• Easily adjust your investments to match your interests
• Explore thousands of investment options

Cons

• No direct relationship with a human advisor
• You can’t borrow more than 30% of your account
• Only available to US citizens / residents

Wealthfront Fees

Interest Rates	2.40% to 3.65%
Fund Fees	0.06% to 0.13%
Advisory Fees	0.25% per year when you invest $1,000