Best Investment Apps of 2022

Back in 2016, a study by Harris Poll found that nearly 80% of US millennials don't invest in the stock market. 40% blame their inability to invest with limited resources, while another 34% say they don't know how to invest. In 2021 (and beyond), investment apps are the way to make money online.

Even with minimal investment experience and limited resources, this app allows you to enter the market and expand your portfolio.

What Are the Best Investment Apps?

You no longer need a stockbroker to trade online. Brokerage firms like Vanguard or TD Ameritrade are entering the iPhone and Android app space, but not as intuitive as the apps on this list. From recent college graduates to seasoned investors, there are great investing apps that make investing smooth and convenient from your phone.

Let's take a look at some of the best uses for investment accounts, and which ones are best for different groups of investors.

M1 Finance

M1 Finance is known for its user-friendly interface and low operating costs. They allow you to choose from a variety of templates and portfolio options - all for free. This investment application is suitable for investors who are more willing to delegate most of the portfolio they manage without having to pay for the services of an expert advisor.

M1 Finance will do all this for you virtually. If you want to invest, this app will ask you to make your own "cake".

This cake combines your preferred investment opportunities and unique investment objectives. These private financing options include index funds and bonds (or stocks) traded on exchanges. These pies will determine how they will automatically distribute your allocated capital across your chosen investment options.  

Therefore, each slice of your cake will expand or shrink automatically based on your return on investment. As you add more funds to your account, the app will allocate money to return your selected slice of cake. M1 Finance is unique. First, it's free to use - there are no hidden fees, so you're getting one of the best piece investment platforms out there. Under certain conditions, you can also extend personal and small loans to your portfolio. M1 Finance offers robust automation for rebalancing and general investment in its platform.

One downside is that they don't offer tax collection. Also, you don't have the option to buy mutual funds. After all, it is the best investment app for anyone who is looking for a robo-advisor with no fees for every transaction made.

Robinhood

Robinhood is a very popular app for trading stocks and cryptocurrencies for free. This app is also free for ETFs and options. When they debuted in 2013, they grew to over 4 million dealers.

This app works with a minimum account balance of 0 and is very clear and easy to use. You may not get the rich features of a traditional full-service broker, but it is a useful trading platform at a significantly reduced price. Robinhood does not charge any commission for transactions and has a very user-friendly interface. This app creates an enjoyable mobile experience with quick access to retail.

Other brokers often only give you a few accounts; Robinhood gives you free access to over 2,000 stocks and ETFs. You can also borrow shares with their Robinhood Gold Service.

Here are a few things to keep in mind:

This app often struggles to sync with other expense tracking software like Personal Capital

If you want to use their guides and research tools, you have to pay $5 per month

They don't have a desktop version

If you transfer your account to another broker, there will be a fee of $75

Overall, Their mobile app Investment has opened up a whole new market for people. Using Robinhood makes it easy to buy and trade stocks and cryptocurrencies, create watchlists, and see real-time performance. Their cryptocurrencies are quite limited compared to platforms like Binance, but they include:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Bitcoin SV (BSV)
• Dogecoin (DOGE)
• Ethereum (ETH)
• Ethereum Classic (ETC)
• Litecoins (LTC)
• Finally, if you're new to investing and looking for an easy-to-use app to manage all your wealth with minimal investment, Robinhood is a no-brainer.

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