![]() Plus, if you prefer the robo-advisor route, Ally Invest Robo Portfolios creates a personalized portfolio of ETFs for you. There are no recurring fees or minimum balance requirements to worry about. You can trade stocks and ETFs with no commissions mutual fund trades will incur a $9.95 commission fee. Ally Invest offers just that through its mobile app. Read our SoFi Automated Investing Review Best Overall Runner-Up Investment App for Beginnersīeginners often do well with simple and straightforward investment platforms. What to look out for: SoFi doesn't offer tax-loss harvesting. If you are a beginner and want help putting an investment strategy together, SoFi is an ideal place to start. ![]() You'll be able to work with certified financial planners (CFPs) who can help you reach your goals. Note, though, that SoFi charges a 1.25% markup on crypto transactions.Īs an added bonus outside of the app, SoFi offers complimentary financial planning sessions for all members, among other benefits. In addition to cryptocurrency trading (for bitcoin, ethereum, dogecoin, and 19 other coins), you can also access investment education articles from inside the app. It doesn't have the most in-depth investment research, but there is enough to get you started and guide your trading decisions. The app includes stocks and ETFs listed by category, making it easy to browse potential investment opportunities. Even the managed portfolio product, SoFi automated investing, where your ETFs are all picked and managed for you, is free to use. You can get started at SoFi Invest with just $1, and there are no commissions for trades and no recurring account fees. SoFi is a top pick for beginners thanks to an easy-to-use platform paired with rock-bottom pricing. Best Overall Investment App for Beginners The best investment apps for beginners offer low fees, investment options, educational resources, account flexibility, and goal-building tools. But some platforms, like Charles Schwab or Vanguard's robo-advisors, have much higher minimums. Robo-advisors and other investment apps for beginners often have minimum investments between $0 and $100. You can invest $100 in an online brokerage or investment platform that has a minimum investment requirement of $100 or less.
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