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10 Best Free Investing Apps For Beginners 2023

  • Post category:Fin -Tech
  • Reading time:23 mins read
  • Post last modified:March 1, 2023

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In this post, we will check out the 10 best free Investing apps for beginners in 2023.

Investing can be a daunting task, especially for beginners. However, with the rise of mobile technology, investing has become more accessible and convenient than ever before.

Today, there are numerous investing apps that cater specifically to beginners, providing a user-friendly interface and educational resources to help users get started on their investment journey.

In this article, we will highlight five of the best free investing apps for beginners in 2023. These apps offer a range of features, from commission-free trading to personalized portfolios and social trading.

Whether you’re a complete beginner or just looking to diversify your portfolio, these apps can help you achieve your investment goals with ease. So, without further ado, let’s dive in and explore the top 10 investing apps for beginners in 2023.

10 Best Free Investing Apps For Beginners 2023

1 M1 Finance

M1 Finance is a free investing app that allows you to create a portfolio of stocks and ETFs in a matter of minutes.

When it comes to commission-free investing, investing in fractional shares, and automatic deposits, M1 Finance is a top choice.

The app has become a favorite among investors over the last year due to its user-friendly interface, educational resources, and diversified portfolio options.

With M1 Finance, investors can set up a portfolio of ETFs and stocks for free, without having to worry about transaction fees or commissions.

The app also offers pre-built portfolios that investors can use to get started quickly and easily. Plus, M1 Finance is currently running a great investing bonus offer for new investors.

Investors who deposit new money into their account by December 31, 2023, can receive up to $500. Alternatively, investors can also earn $10 for opening a new account and funding it within 30 days.

Overall, M1 Finance is an exceptional investing app that offers a lot of features and benefits for free. It’s a great option for beginners who are just starting with investing and want to diversify their portfolio without worrying about fees and commissions.

After you sign up at M1 Finance, you will have access to several investment options including stocks and ETFs (exchange-traded funds).

The main benefit of M1 Finance is that it’s free to use — there are no fees required like other Robo-advisors. This means that anyone can open an account with no strings attached. M1 Finance is number 1 in our list of 10 best free investing apps for beginners in 2023.

2 Fidelity

Fidelity is a full-service broker that offers investors a wide variety of investment services. They now offer $0 commission stock, option, and ETF trades.

Fidelity IRAs also have no minimum requirements to open, and no account maintenance fees.

Their app is the neatest and most comfortable to use out of all of the investing apps. They come up with plenty of features, which make your life easy in investing.

Fidelity Investments is one of the best financial services companies in the world, It offers a range of investment products, including mutual funds and exchange-traded funds (ETFs), as well as retirement plans and other services.

Fidelity has been around since 1946 and expanded its offerings to include online trading. Today, it has more than 40 million customers and over 70,000 employees across the globe.

Fidelity offers some of the best free investing apps out there for both iOS and Android devices that give users access to their accounts anywhere they go.

The app allows you to check your account balances, view recent transactions, and make trades right from your phone or tablet device. Fidelity is number 2 in our list of 10 best free investing apps for beginners in 2023.

3 TD Ameritrade

best free investing apps

TD Ameritrade is a full-service brokerage firm that offers a variety of investing tools and resources.

TD Ameritrade’s commission-free pricing structure is a boon for every trader and they are more effective than ever to operate as an investing app.

The company also has a great website that is easy to use and has a wide array of investment tools.

TD Ameritrade’s mobile app is available for both Android and iPhone users. With the mobile app, you can check account balances, place trades, and make transfers between accounts.

The TD Ameritrade website has a number of useful tools for investors, including candlestick charts and technical analysis tools that let you analyze the price movements of stocks over time.

You can also use the charting tool to see how much money you would have made if you had invested in a particular stock at a certain time period ago or how much money you lost when holding onto a stock that has declined in value since it was purchased by you initially.

TD Ameritrade offers many other features that make it easy to invest your money wisely and keep track of everything related to your portfolio at all times:

TD Ameritrade clients can use the company’s educational materials to learn about the markets or to find tips on how to make the most of their investments.

The website also provides an extensive list of financial news articles covering all areas of finance, including personal finance, real estate, corporate finance, and many more topics related to money management in general. TD Ameritrade is number 3 in our list of 10 best free investing apps for beginners in 2023.

4 Robinhood

best free investing apps

Robinhood is one of the most popular free investing apps, and for good reason. It’s an app that let you buy and sell stocks for free.

Users can buy or sell stocks at market price. This app can provide plenty of functionality and comes with a neat user interface and fundamental research tools.

It’s always one of the go-to tools for investors. They also allow fractional shares, cryptocurrency investing, and a lot more features.

The company is headquartered in Menlo Park, California, that facilitates commission-free trades of stocks, exchange-traded funds, and cryptocurrencies via a mobile app introduced in March 2015. 

Additionally, the app’s free trades are supported by Robinhood Gold, a margin account that allows users to buy and sell after hours.

Trading on margin can double expected returns, but it also doubles expected losses and can eat into principal. Overall, while Robinhood is an excellent option for free trades, it may not be the best fit for all investors.

5 Vanguard

best free investing apps

Vanguard is an American registered investment advisor established in Malvern, Pennsylvania, with nearly $7 trillion in global assets under management, as of January 13, 2021.

They pioneered the concept of reducing fees and advocate for investing in low-fee index funds.

One of the biggest advantages of using Vanguard is the absence of commission fees when you buy and sell Vanguard ETFs.

You also won’t have to pay account service fees if you choose to receive your account documents electronically or if you’re a Voyager, Voyager Select, Flagship, or Flagship Select Services client.

Moreover, Vanguard recently announced that it won’t charge a commission on a significant number of competitor funds and ETFs, making them an even more attractive option for investors.

Vanguard doesn’t have an account minimum, and there is no minimum purchase requirement for mutual funds. However, for stocks and ETFs, the minimum purchase requirement is the cost of one share.

The downside of Vanguard is that its app is a bit more clunky compared to other investment apps. It feels outdated and designed only for basic functionalities.

Despite the clunky app, Vanguard’s low-cost investment options and commission-free ETFs make it an excellent choice for long-term investors who are willing to forego fancy features in exchange for low fees and a solid investment strategy.

6 We Bull

Webull is a popular investment platform that is primarily focused on trading and is often compared to Robinhood.

The platform offers a variety of in-app investment research tools, making it a great choice for investors who are interested in technical charting.

Unlike some of its competitors, Webull offers options trading and limited cryptocurrency trading, and they have competitive margin rates.

However, the platform currently does not support mutual funds, bonds, OTC Bulletin Board, or Pink Sheets stocks, and stocks that are under $1 and/or have a market cap of $10 million or less are restricted.

Overall, Webull is a strong choice for investors looking for an app-first investment platform with powerful research tools and trading capabilities. We Bull is number 6 in our list of 10 best free investing apps for beginners in 2023.

7 Public

Public is a commission-free investing app that places a significant emphasis on education and community building.

The platform offers a wide range of investment options, including stocks, ETFs, crypto, and even fine art and collectibles.

One unique feature of Public is its focus on fractional shares, which allows investors to purchase a small portion of expensive stocks. The app also offers desktop support, making it easy to access important account information.

Public also distinguishes itself from competitors by not participating in Payment for Order Flow. This means that they do not receive compensation for directing orders to specific market makers, which can potentially create conflicts of interest.

Overall, Public is a great option for investors looking to learn more about investing and connect with a community of like-minded individuals.

8 Firstrade

Firstrade is a platform that offers some of the best trading fees among free stock trading apps, making it an attractive option for beginners looking to invest.

They offer commission-free stock and ETF trading, as well as mutual funds, including no-load, load, and no-transaction-fee mutual funds.

Firstrade also allows the trading of around 40 digital currencies, making it a better option compared to some other beginner investing apps.

The mobile apps for iOS and Android are user-friendly, with features such as Face ID login, charting, and real-time streaming quotes.

Firstrade also offers a cash bonus for new accounts, with bonuses ranging from $50 to $300 depending on the amount of money funded.

Additionally, Firstrade will provide up to $200 to cover any transaction fees. However, users should note that the mobile experience is pared down compared to the primary web experience.

9 E*Trade

ETrade is a well-known investment platform that provides investors with a range of educational resources to help them conduct investment research and analysis and diversify their portfolios.

It offers zero-commission trading on stocks, ETFs, and options, as well as mutual fund trading at a $0 commission.

ETrade has two platforms, both of which are free and available in web and mobile versions. The Power ETrade platform is designed for more advanced traders, offering advanced charting, snapshot analysis, a stock and trade scanner, paper trading, and the ability to design exit strategies.

The ETrade web platform is suitable for beginning-to-intermediate traders and investors and provides real-time quotes, charts, market commentary, and news.

It also includes ample tools such as stock, mutual fund, bond, and ETF screeners, trade optimizers, backtesters, and more. E*Trade boasts its educational resources, which include articles, videos, classes, monthly webinars, and live events.

10 SoFi Invest

SoFi is a financial company that provides a range of services such as credit cards, student loans, and mortgages.

It also offers a trading and investment platform, SoFi Invest, which allows users to invest in stocks, ETFs, options, and cryptocurrencies.

The Active SoFi Invest Brokerage Account has no required minimum balance and offers commission-free trades on stocks, ETFs, and options, making it a suitable choice for investors who are just starting.

Additionally, SoFi’s robo-advisory services provide free portfolio management and can be customized to meet specific goals. SoFi Invest is geared towards younger, less experienced investors with a focus on simplicity and ease of use.

The app also offers budget-friendly features such as fractional shares, which enable users to invest for as little as $1.

Moreover, SoFi Invest allows you to manage a range of financial services and products, including banking, insurance, and student loans, all in one place.

FAQs

Investing apps can be safe if they are developed and operated by trustworthy and regulated financial institutions. These institutions are required to follow strict security protocols and regulations to ensure that their users’ personal and financial information is protected. Additionally, reputable investing apps often use advanced encryption methods and multi-factor authentication to secure their users’ accounts and prevent unauthorized access.

The apps that we have listed do not require users to pay a monthly fee for their essential services, and they also do not charge a commission for trading in stocks, ETFs, and options.

However, it is essential to note that there may be other fees associated with using these apps, such as fees for wire transfers or paper statements. These fees may vary depending on the app and the specific services that you require.

It is always a good idea to review the fee schedule of any financial app before using it to make an informed decision about which app is right for you.


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Kamran Khan

A geek, who just loves to update sports, gaming, and tech updates from around the world to the other geeks out there. A passionate sports lover, a tech geek from the mind, and a gamer from the heart.

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