10 Best Investing and Trading Apps in 2022

Are you looking to improve your investing game in 2022? We have compared the most popular investment apps based on cost, app rating, investment minimums, and what investments they offer. Here is the round-up.

SustainFi   Updated December 10th, 2021

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💰 The Best Investing Apps

The best trading and investing apps

Here are the top apps to help you invest, trade, and manage your finances in 2022. Whether you are a beginner, a hands-off investor, or an active, self-directed investor, there are low-cost options for you.

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, cryptos, IPOs


Best for beginners

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, cryptos

Best for social investing

Fees

$0

Investments

Stocks, ETFs, expert portfolios

Best for self-directed investing

Fees

$3-$5 / month

Investments

ETFs acorns selects

Best for hands-off investors

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, mutual funds, options, fixed income, futures, currencies

Best for expert traders

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, mutual funds, options, fixed income, futures

Best for expert traders

Fees

0.25%-0.40% of your assets each year

Investments

ETFs Betterment selects

Best robo-advisor

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, options, cryptos

Best for day  traders

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, options, mutual funds, bonds, CDs, precious metals

Best for mutual fund investors

Fees

$0 for stocks, ETFs, options

Investments

Stocks, ETFs, cryptos, options

Best for day traders

SoFi Invest

Fees$0 for stocks and ETFs (1.25% for crypto)
Minimum$5 ($10 for crypto)
Accounts typesTaxable investment accounts, retirement accounts
What you can invest inOver 4,000 stocks and ETFs, 30 cryptos, IPOs (at IPO prices)
Best forBeginners

SoFi, short for “Social Finance,” is a financial services company that offers a broad suite of products like loans, brokerage accounts, insurance, and credit cards. SoFi Invest is a brokerage account that lets you invest in stocks and ETFs (including fractional shares), IPOs (at IPO prices), and 30 cryptocurrencies. SoFi Invest also offers automated investing through an in-house robo-advisor.

You can start investing with only $5 and trade stocks and ETFs for free. (There is a 1.25% markup if you want to trade cryptos.) SoFi doesn’t charge a management fee for its Automated Investing, the robo-advisor, either. You don’t have to pay for SoFi to create a diversified portfolio to match your risk tolerance and investment goals (though you still incur the cost of the funds that SoFi puts in the portfolio). You can even talk to a fiduciary CFP investment advisor at no extra cost.

The app is great for beginners because it provides educational resources, requires a low minimum, and supports fractional shares. However, it is not the right choice if you are an advanced trader who needs access to options, futures, or forex.

🔔 Read a comprehensive review of SoFi Invest.

Public.com

Fees$0
Minimum$1
Accounts typesTaxable investment accounts
What you can invest inOver 9,000 stocks and ETFs, crypto
Best forSocial investing

Public is a free investing app and social network built to democratize access to the stock market. Formerly known as Matador, the app launched in 2019 to make investing easily accessible to everyone. With Public, you can:

  • Invest in stocks and ETFs (including fractional shares) starting with $1
  • Follow your friends or influencers and share ideas
  • Invest in themes like “Green Power” or “eSports and Gaming”
  • Buy crypto and hold it in the same app as your stock portfolio

Unlike Robinhood, Public does not accept the controversial payment for order flow (PFOF). (Effectively, Robinhood is being paid by market-making firms to process your trades. Your trades are the product they sell, which is how you get to trade for free.)

And the app tries to help you invest rather than speculate. As a result, Public doesn’t offer options trading or margin loans.

All users on the platform are verified, and the vibe is supportive. By verifying all the users, Public avoids the anonymity of some popular Reddit boards. Public’s backers include Will Smith, Professor Scott Galloway, Girlboss founder Sophia Amoruso, and skateboarding legend Tony Hawk. You can follow various celebrities on the app and see how they invest.

🔔 Read a comprehensive review of Public.

M1 Finance

Fees$0 ($125 / year for M1 Plus memberships)
Minimum$100 ($500 for retirement accounts)
Accounts typesTaxable investment accounts, retirement accounts, custodial accounts
What you can invest inOver 6,000 tocks and ETFs; expert portfolios
Best forSelf-directed investors

M1 Finance is a unique investing app that offers self-directed trading and a robo-advisor. You can invest in over 6,200 stocks or ETFs or pick from a selection of over 80 expert portfolios, called “pies.” 

You can also build your own pies. The pie portfolio model allows you to easily add a stock or an ETF as a piece of the pie. You choose what percentage to invest in each asset. All in, M1 Finance is like a cross between an online broker and a robo-advisor, but unlike other robo-advisors, it’s free. The app offers expert socially responsible pies, automatic rebalancing, and fractional shares. There is a $100 minimum, but trading is free and you can even borrow to invest

The premium version, M1 Plus, costs $125 per year and offers access to various perks like discounted interest rates on margin loans. M1 Plus accounts also let you set up Smart Transfers, a service that sweeps excess cash into your investing account. As a Plus member, you earn interest and get cash back if you open an M1 Finance checking account.

🔔 Read a comprehensive review of M1 Finance.

Acorns

Fees$3-$5 / month
Minimum$0
Accounts typesTaxable investment accounts, retirement accounts, custodial accounts
What you can invest inETFs that Acorns selects for you
Best forHands-off investing for beginners

Acorns is a personal finance app that lets you invest spare change from everyday purchases in diversified portfolios made up of exchange-traded funds (ETFs). The app was launched in 2014 to make investing seamless for everybody and has since expanded to retirement and checking accounts. In 2021, Acorns grew to over 9 million sign-ups and nearly $5 billion in assets under management.

Once you’ve linked a debit or credit card to Acorns, the app will round up your purchases to the nearest dollar and invest them in a portfolio of ETFs. You can also invest by depositing money in your Acorns account.

Acorns offers regular and environmental, social, and governance (ESG) options. If you choose the ESG option, Acorns will put your money in funds that invest in more environmentally friendly and socially conscious businesses. Like other robo-advisors, Acorns picks funds for you based on how much risk you are willing to take and how much time you have until you retire.

There is no minimum to get started, but you need to pay $3 per month for the personal plan or $5 per month for the family plan, which includes custodial accounts for kids. (You should know that if you have a very small amount invested, the monthly fees can really add up.) You can also open an Acorns checking account that comes with a debit card and free access to 55,000 ATMs.

🔔 Read a comprehensive review of Acorns (ESG Portfolios).

TD Ameritrade

Fees$0 commission for stocks and ETFs ($6.95 for OTC stocks); $0.65 per contract fee for option trades; $25 for broker-assisted trades; $49.95-$74.95 for no-load mutual funds
Minimum$0
Accounts typesTaxable investment accounts, retirement accounts, education accounts
What you can invest inStocks (including OTC stocks), ETFs, mutual funds, options, fixed income, futures, currencies
Best forAdvanced traders (who don’t trade crypto)

Recently acquired by the discount broker Charles Schwab, TD Ameritrade lets you trade stocks, ETFs, mutual funds, options, fixed income, futures, and currencies. The only investment class that’s lacking is crypto. Stock and ETF trades are free (except OTC stocks). TD Ameritrade also offers margin loans.

TD Ameritrade actually has two apps, TD Ameritrade Mobile and thinkorswim mobile. TD Ameritrade Mobile is a straightforward app that lets you trade stocks, ETFs, and options and access research and charts. The thinkorswim mobile app is more advanced, adding fixed income, complex options, futures, and forex capabilities. Both apps let you access research.

The main drawback of TD Ameritrade is the lack of access to crypto and fractional shares. Post the acquisition by Charles Schwab, TD Ameritrade accounts will be merged with Schwab’s, so the features may change.

E*TRADE

Fees$0 commission for stocks and ETFs; $0.50-0.65 per contract fee for option trades; additional fees may apply to mutual funds, bonds, and futures trades; 0.30% annual fee for Core Portfolios
Minimum$0 ($500 for Core Portfolios, the robo-advisor)
Accounts typesTaxable investment accounts, retirement accounts
What you can invest inStocks, ETFs, options, mutual funds, bonds, CDs, futures
Best forAdvanced traders (who don’t trade crypto)

The E*TRADE app supports multiple investment types, from stocks and ETFs to futures and bonds. You can buy stocks and ETFs with no commission and even watch Bloomberg TV. And if you want to automate your investments, E*TRADE offers Core Portfolios, which will invest on your behalf. The robo-advisor even has a socially responsible option. However, crypto is not supported; neither are fractional shares. Unlike self-directed trading, Core Portfolios is not free, and there is a $500 minimum investment. The fee is 0.30% of your assets each year.

Like TD Ameritrade, E*TRADE offers two apps targeting more advanced and less advanced investors. The E*TRADE Mobile app has a simple interface but still lets you trade complex instruments like options. The POWER E*TRADE app allows futures trading and lets you access more sophisticated, interactive charts.

In 2020, E*TRADE was acquired by Morgan Stanley, an investment bank. It’s unclear if the acquisition will lead to any major changes on the platform.

Betterment

Fees0.25%-0.40% of your assets each year (plus the expense ratios of the ETFs in the portfolio)
Minimum$0 ($100,000 for Betterment Premium)
Accounts typesTaxable investment accounts, retirement accounts, trusts
What you can invest inETFs Betterment selects for you
Best forBest robo-advisor

Most investing apps are geared towards self-directed investors and traders, but what if you just want to get on with your life and not think about your portfolio every day? Then consider working with a robo-advisor. 

Betterment is a low-cost robo-advisor that uses algorithms based on the Modern Portfolio Theory to create the right portfolio to meet your goals, such as saving for retirement or growing your wealth. It even offers three Impact options that let you invest with climate change or social diversity in mind. 

There is no minimum to start investing, and the basic version (without access to human advisors) costs 0.25% of your assets each year. (That adds up to $25 on a $10,000 account balance each year.) In return, Betterment will put your money into several cheap ETFs, automatically rebalance your investments and even help you save money on taxes.

If you want ongoing access to human financial advisors and have over $100,000 to invest, you can sign up for the premium service that costs 0.40% annually. That fee is still a lot lower than what you would pay a human advisor, who would typically charge around 1% of your assets each year.

The Impact Portfolios, which include Broad Impact, Climate Impact, and Social Impact, are slightly more expensive than conventional portfolios, but Betterment expects that their performance will be comparable.

🔔 Read the review of Betterment Impact Portfolios.

Robinhood

Fees$0 for stocks and ETFs ($5 / month for Robinhood Gold)
Minimum$0
Accounts typesTaxable investment accounts
What you can invest inOver 5,000 U.S. stocks and ETFs, options on U.S. stocks, 650 global stocks (ADRs); crypto
Best forFree trading for beginners

Robinhood was one of the first commission-free apps that led to the low-cost trading revolution. The app lets you trade over 5,000 U.S. stocks and funds, options on them, and 650 global stocks (ADRs). You can buy fractions of shares, a good solution if buying the entire share is more than what you would like to spend. Robinhood also lets you invest in crypto. With instant deposits, you can start trading as soon as you deposit money. The interface of the app is great to boot.

However, trading is free because Robinhood accepts payment for order flow, a controversial practice. (Effectively, Robinhood is being paid by market-making firms to process your trades. Your trades are the product they sell, which is how you get to trade for free.)

Further, Robinhood doesn’t support trading foreign-domiciled stocks, mutual funds, and some over-the-counter stocks. The app has also come under fire for making investing look like a game and potentially encouraging risky trading. And it experienced a backlash when it stopped letting investors buy GameStop (GME) at the height of the pandemic.

If you want to borrow money to invest, get larger instant deposits, and access research from Morningstar and advanced market data from NASDAQ, you can buy the Robinhood Gold membership for $5 a month. The membership gets you $5,000-$50,000 in instant deposits and margin loans with a 2.5% interest.

Fidelity

Fees$0 for stocks and ETFs; $0.65 per contract fee for option trades (fees for mutual funds and bonds may apply)
Minimum$0
Accounts typesTaxable investment accounts, retirement accounts, education accounts
What you can invest inStocks, ETFs, options, mutual funds, bonds, CDs, precious metals
Best forMutual fund investors

Fidelity is a very established broker and mutual fund provider that lets you invest in different assets via an app. You can buy commission-free stocks, ETFs, and options. Mutual funds, bonds, CDs, and precious metals are also supported, though fees apply. And, unlike TD Ameritrade or E*TRADE, Fidelity lets you buy fractional shares.

The app provides research, news and access to a learning center. You can trade the same things you can on the desktop, except for bonds. However, Fidelity still doesn’t offer cryptos or futures.

Webull

Fees$0 for stocks, ETFs, and options
Minimum$0
Accounts typesTaxable investment accounts, retirement accounts
What you can invest inStocks, ETFs, options, crypto
Best forDay traders

Built with active investors in mind, New York City-based Webull is a broker that lets you trade more than 5,000 stocks and ETFs, as well as fractional shares, options, and cryptos. And you can get a margin loan with a 3.99%-6.99% rate.

Webull doesn’t charge a commission for trading stocks, ETFs, and options listed in the U.S., and there is no account minimum.

The investing app also offers advanced charting and analytics capabilities. You can trade on the sleek mobile app or customize the desktop interface as you see fit. To sum up, Webull is like Robinhood built for more advanced investors.

Webull supports full extended hours trading, which includes pre-market (4 AM – 9:30 AM EST) and after hours (4 PM – 8 PM EST) windows, meaning that you can place orders any time between 4 AM and 8 PM.

However, bonds, mutual funds, futures, or forex are not supported.

🔔 Read a comprehensive review of Webull.


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