Best Investment Apps of September 2023

Our experts choose the best products and services to help make smart decisions with your money (here's how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Investing feels more accessible than it's ever been. Whether you prefer a hands-off approach or love to pore over market research and make trades — or fall somewhere in between — the right investment app can make it that much easier to reach your goals.

Our list skews toward so-called robo-advisors — which use an algorithm to manage your investments — because, in many ways, they feel most accessible to average investors; fees and balance minimums are generally low and your big-picture goals can help create an individualized and diverse portfolio that doesn't require much ongoing maintenance.

But we've also included a few of the best online brokerages that offer both active trading and automated portfolios.

The Best Investment Apps

• E*TRADE: Best overall
• SoFi Invest: Best with no fees
• Fidelity Go: Best for hands-off investors
• Robinhood Investing: Best for active traders
• M1 Finance: Best for portfolio customization
• Ellevest: Best for goal-driven investing
• Charles Schwab: Best for auto-investing large balances

These are the best investment apps currently available to traders as chosen by Insider's editors.  

Compare the Best Investment Apps

Best Investment Apps Frequently Asked Questions 

Investing App Reviews

Best Investment App Overall

E*TRADE

E*TRADE is a one-stop shop for investing. Whether you're a seasoned investor or a beginner, you'll find what you're looking for. In 2019, E*TRADE eliminated all stock and ETF trading fees and currently offers over 6,500 no-load, no-transaction-fee mutual funds.

If you're not interested in self-directed investments, E*TRADE's Core Portfolios are a great option. After you fill out a risk profile to share your goals, time horizon, and risk tolerance, you'll get a recommended tax-sensitive portfolio of ETFs.

You can further customize your portfolio as "socially responsible," which shifts your allocation to include an ETF with companies that have progressive social, environmental, and corporate practices, or "smart beta," which favors growth stocks in an attempt to outperform the market. To start investing, you'll need at least $500. 

If you're investing $25,000 or more, E*TRADE's Blend, Dedicated, and Fixed Income Portfolios are worth considering. In addition to a more customized portfolio, these plans include one-on-one advising with a financial consultant.

Through E*TRADE's two mobile apps, you can access your accounts, make trades, view charts and research, and watch Bloomberg TV.

What to look out for: While you're able to open an account and choose a Core Portfolio with $0 down, you'll need to fund the account with at least $500 to get started investing. Investors should also note that Morgan Stanley acquired E*TRADE on October 2, 2020.

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Best Investment App With No Fees

SoFi

You won't be charged any advisory fees, stock or ETF trade fees, or subscription fees to invest with SoFi.

For those with a set-it-and-forget-it attitude, SoFi Invest automated investing platform will recommend a portfolio made up of ETFs, based on your risk tolerance. Once you decide which portfolio is appropriate, you can get started investing with as little as $1.

You won't have to bother rebalancing your portfolio since SoFi will do it for you at least once a quarter, but if your goals or overall financial situation changes, you can adjust your portfolio and even set up an appointment with a SoFi financial planner at no extra cost. Keep in mind that you'll still have to pay fees to the funds you're invested in within your portfolio.

Active traders don't pay transaction fees when buying and selling fractional shares, stocks, or ETFs. You can also invest in cryptocurrency, but SoFi charges a markup of 1.25% on those transactions. SoFi offers several different cryptocurrencies, including bitcoin, ether, litecoin, and others. Plus, it now offers options trading.

SoFi Money (Member FDIC), a checking/savings account hybrid with a competitive interest rate, a debit card, and unlimited ATM fee reimbursements, can store money you're not ready to invest yet.

What to look out for: There are only five portfolio options available for passive investors, ranging from conservative to aggressive. Despite no advisory charges, you'll still incur fees from the ETFs included in your portfolio.

SoFi review

Best Investment App for Hands-Off Investors

Fidelity Go

Fidelity Go is an easy-to-understand investment app for those who don't want to spend a lot of time or incur too many fees building wealth.

After answering a set of questions about your age, risk tolerance, and goals, a team of experts will select an appropriate portfolio made up exclusively of Fidelity Flex mutual funds, none of which charge additional management fees or fund expenses. That means you pay a flat 0.35% advisory fee, regardless of what you invest in.

You only need $10 to get started investing, and the professionals behind Fidelity Go — not an algorithm — will rebalance your portfolio periodically. You can change your investment strategy at any time from seven different allocations ranging from conservative to aggressive.

In August 2020, Fidelity changed up its pricing tiers and added an option for personalized financial planning.

What to look out for: There is customer support, but no option to connect with a human adviser one-on-one for financial planning unless you upgrade to the 0.50% AUM fee option. No tax-loss harvesting, which can be especially valuable for higher balances. Investments are limited to Fidelity Flex mutual funds, which may be limiting.

Fidelity Go review

Best Investment App for Active Traders

Robinhood

Robinhood Investing is as simple as a commission-free trading app can be. Investors can buy and sell US-exchange listed stocks and ETFs (and fractional shares of both), options, and cryptocurrency without paying any fees. There isn't a minimum account size requirement for stock, ETF, and options trades. But you'll need at least $1 for fractional shares and a minimum of $25,000 in your account to day trade.

For access to larger instant deposits, research reports from Morningstar, and NASDAQ market data, investors can upgrade to Robinhood Gold for a $5 monthly fee. The membership includes up to $50,000 in instant deposits, plus $1,000 of margin and a 4.90% interest on any excess margin used.

If you're interested in trading cryptocurrencies, you'll have access to 17 different assets, including bitcoin, bitcoin cash, bitcoin sv, compound, dogecoin, ethereum, ethereum classic, and more. Robinhood also has a no-fee, high-yield cash management account, which comes with a debit card and up to $2 million in FDIC insurance.

What to look out for: Robinhood faced intensified public scrutiny throughout the coronavirus-induced market chaos. The New York Times reported that the app's game-like interface encourages young and inexperienced investors to take too-big risks, often through "behavioral nudges and push notifications." After the suicide of a 20-year-old user who expressed confusion about the negative six-figure balance in his account after a complex options transaction, Robinhood announced a slew of changes, like adding more educational content around sophisticated options trading and hiring a specialist to assist users.

But in December 2020, the US Securities and Exchange Commission (SEC) fined Robinhood $65 million for misleading customers about its business practices with other trading firms. According to an SEC press release, Robinhood earned the majority of its revenue from trading firms that offered payments in exchange for Robinhood sending customer orders to those firms for execution. The SEC also pointed out that Robinhood failed to accurately disclose this information on its website. Without admitting to or denying the claims, Robinhood agreed to the $65 million settlement.

In 2021, Robinhood also received tremendous backlash after it prevented users from buying shares of Gamestop (GME), AMC Entertainment (AMC), Nokia (NOK), and other stocks during a Reddit-influenced share price surge. 

Robinhood review

Best Investment App for Portfolio Customization

M1 Finance

M1 Finance offers investing, cash management accounts, and lending all under the same roof. On the investing end, you can either trade stocks and ETFs on your own, or choose from among 60 different curated portfolios, thanks to its Pies feature.

As mentioned above its Pies give you two options: build your own investment strategy with stocks and ETFs or choose from pre-built pies (also known as Expert Pies). With M1 Finance's Expert Pies, you can sift through multiple portfolios to find the Pie that best aligns with your personal goals (like general investing, responsible investing, retirement investing, and more).

But customization and expert portfolios aren't the only perks M1 Finance offers; it also provides fractional share investing and automated investing features. If you want to leave the maintenance of your portfolio to the professionals, you can utilize its auto-invest settings to schedule portfolio contributions and have M1 Finance automatically rebalance your investments when necessary.

You can also access much more with an M1 Plus subscription. This includes both a morning and afternoon trading window (standard M1 users' trades only execute during a morning window), custodial accounts, smart transfers, and more.

What to look out for: You'll only be able to invest in stocks and ETFs with M1 Finance. If you're looking to diversify your portfolio outside of these investment types, you may need to consider other investment platforms.

M1 Finance review

Best Investment App for Goal-Driven Investing

Ellevest

Ellevest encourages you to build an investment philosophy around your goals, whether that's starting a business, having kids, splurging on a vacation or other big purchase, buying a home, retiring on time, or simply building wealth. Your access to these goals can vary based on which membership plan you select.

Then, this female-forward online adviser takes it a step further and considers your gender, lifespan, and earning potential to create a custom portfolio of mostly ETFs. You can also opt for a socially responsible allocation, if that's important to you.

As a fiduciary, Ellevest automatically rebalances and regularly updates your performance forecast, taking into consideration fees, taxes, and the occasional market crisis to show you whether you're on track to meet each of your goals — and what you can do to make up for it if you're not. The app also provides learning resources like email courses and live workshops. Financial and career coaching can also be purchased à la carte at a discount. Most recently they also added banking accounts*.

Ellevest charges a monthly membership fee ranging from $5 month to $9 a month. There are no additional investment advisory fees on top of the monthly membership, but there are underlying fees charged by the ETFs in your portfolio.

What to look out for: You'll have to spring for the higher-tier offerings if you want more specific guidance for your goals beyond "build wealth." Ellevest does not offer automated tax-loss harvesting, which can be valuable for investors with higher balances. As with any investment app that charges monthly fees rather than per-account advisory fees, it's important to note how much of your balance they represent.

Ellevest review

Best Investment App for Auto-investing Large Balances

Charles Schwab

You'll find any type of investment you're looking for at Charles Schwab. These include (but aren't limited to) self-directed stock trading, crypto coin trusts and bitcoin futures, mutual funds, and retirement accounts. But it's the Charles Schwab Intelligent Portfolios, the brokerage's robo-adviser, that ultimately outshines competitors.

The Premium version requires a minimum investment balance of $25,000, but combines automated investing with ongoing financial planning. Your risk tolerance profile will help experts design a custom portfolio of Schwab ETFs that will be rebalanced regularly. All portfolios include a cash allocation, which is deposited in a Schwab high-yield account. A free add-on feature called Schwab Intelligent Income can help you generate a monthly paycheck from your brokerage or retirement accounts.

You'll pay an initial planning fee of $300 to meet with a certified financial planner and a flat $30 a month for ongoing guidance whenever you need it, but no asset under management fee. Once your balance reaches $50,000, free tax-loss harvesting is available.

There are also comprehensive online financial planning tools available that let you to link up various accounts to track your progress toward goals and forecast different scenarios on your own.

What to look out for: Minimum balance requirements disable anyone with less than $5,000 from investing in Schwab Intelligent Portfolios. As with any investment, you're responsible for paying the underlying fees in the ETFs in your portfolio.

Charles Schwab review

Other Investing Apps We Considered That Didn't Make the Cut

• Betterment Investing: Betterment comes up short on financial planning tools available to the average investor, and its annual fee increases for account balances of $100,000 or more.
• Wealthfront Investing: Wealthfront combines financial planning tools and robo-investing for a flat 0.25% advisory fee, but it also requires a $500 minimum balance to start investing, whereas Fidelity requires $10 and doesn't charge underlying ETF fees. Wealthfront is also now offering its new automated bond portfolio called Wealthfront Automated Bond Portfolio.
• Acorns Invest: Acorns is one of the most approachable investment apps available. It offers five pre-built portfolios, ranging from conservative to aggressive risk tolerance. Each includes up to seven ETFs from companies like BlackRock and Vanguard and is automatically rebalanced to maintain proper asset allocation. But Acorns isn't as customizable as some of the other automated investing platforms.
• Wealthsimple: This investment app may be ideal for passive investors who want to invest in socially responsible companies, but the options are limited to three portfolios and the advisory fee is higher than competitors at 0.50% for balances under $100,000. Note, though, that its products are now only available to Canadian residents.
• TD Ameritrade: An incredibly research-rich investment app that recently slashed all trading fees, TD Ameritrade has a lot to offer, but AUM fees for its managed accounts are higher than Wealthfront. Charles Schwab also acquired the investment platform in 2020.
• Stash Invest: Stash bundles a checking account, retirement accounts, and investment accounts together through a subscription model. It does make investing more accessible through fractional shares and customizable portfolios, but there are more cost-effective options for beginners.
• Ally Invest: This bank offers commission-free trading, but for portfolio investing, there's a 0.30% advisory fee unless you keep at least 30% of your holdings in cash at all times. 
• Vanguard automated investing: An undeniable leader in investing, Vanguard is a worthy competitor to E*TRADE and a few other stalwarts, but it doesn't have as many clear options for passive investors who want to create a portfolio to match their goals, and its investment minimums are relatively high. 
• Stockpile: Stockpile is a fine option if you want to invest in small amounts to start. Trades are also free, but it may not be ideal for traders in search of immediate trade execution. Trades placed after 3 p.m. ET are placed at 4 p.m. ET on the following day.
• Merrill Edge: A convenient option for Bank of America users, but the lowest tier of managed portfolios commands an annual fee between 0.30% and 0.45% on a minimum balance of $5,000. 
• Oportun App: The Oportun app connects with your bank account to analyze your spending, and it automatically transfers money into your Oportun savings account when feasible. While Oportun also offers savings accounts, goal-based planning, automated investment, and retirement management, it's not primarily focused on investments. Plus, you'll have to pay a $5 monthly fee after your 30-day free trial expires.  
• Uphold: Uphold is a multi-asset digital trading platform that offers "Anything-to-Anything" commission-free trading for digital assets, national currencies, and precious metals. It's suitable for all levels of traders due to its transparent fee structure, staking reward features, easy-to-use platform, and educational resources. But Uphold's spread fees are higher than the industry's average. 
• Wells Fargo Intuitive Investors:  A automated investing platform that invests in diverse, cost-effective ETFs. It offers individual brokerage accounts, joint brokerage accounts, IRAs, margin accounts, education savings accounts, and more. But it requires a $500 minimum to open an account, and it doesn't offer many advanced charting tools or resources. 

Why You Should Trust Us: Our Expert Panel on The Best Investment Apps

We interviewed the following three investing experts to inform our picks for the best investment apps:

• Brian Fry, CFP, founder at Safe Landing Financial
• Charlotte Geletka, CFP, CRPC, managing partner at Silver Penny Financial Planning
• Kaysian Gordon, MBA, CFP, CDFA, CPA, wealth manager at Clarus Group

What are the advantages and/or disadvantages of using an investment app?

Brian Fry, CFP:

"Using an investment app helps you have a better awareness of your financial situation. An app can greatly help to track progress toward financial goals and investment performance. [A disadvantage is that] using an app might lead to more trading instead of focusing on investing toward your financial goals."

Charlotte Geletka, CFP, CRPC:

"An investment app can be great for keeping informed and up to date, but it can also allow you to make impulse decisions so proceed with caution."

Kaysian Gordon, MBA, CFP, CDFA, CPA:

"It depends on how much guidance you're looking for. A robo-advisor will be able to create a portfolio based on a series of questions that you have answered. However, we know that as humans, we're way more complex than what a robo-advisor can provide."

Who should consider using an investment app?

Brian Fry, CFP:

"DIY investors should work with an investing app that best suits their situation. Whether that's the ability to trade investments online, have a robo-advisor, or [get] access to a call center. Every platform offers similar but different resources. The key is finding the one that works best for you."

Any other advice for those interested in investment apps?

Brian Fry, CFP:

"Choose the platform that simplifies the investing and rebalancing process and offers the best transparency. Find the app that provides the best user experience and greatest value to your unique financial situation."

Kaysian Gordon, MBA, CFP, CDFA, CPA:

"It goes back to doing the research and looking at the things that are important to you."

Methodology: How we Reviewed The Best Investment Apps

People may have varying risk capacities and financial goals they're working toward, but you'd be hard-pressed to find someone who doesn't prefer a cheaper way to invest. For that reason, the cost was a huge factor in determining our list. 

Personal Finance Insider's rating methodology for investment platforms examines companies that offer platforms that keep fees to a minimum (generally below 0.50% of assets under management, or AUM, for balances under $100,000) and offer a high-quality experience. In some cases, that means access to free financial planning tools — or financial planners themselves — and clear and easy-to-understand investment options.

We compared nearly two dozen brokerages, placing heavy weight on their advisory and trading fees, investment philosophy, investment options, and types of accounts available. User experience is also important, so we also looked at each brokerage's accompanying mobile app and scoured reviews on the Apple Store and Google Play to find out what regular users think of the product. 

Tanza Loudenback

Tanza is a CFP® professional and former correspondent for Personal Finance Insider. She broke down personal finance news and wrote about taxes, investing, retirement, wealth building, and debt management. She helmed a biweekly newsletter and a column answering reader questions about money.  Tanza is the author of two ebooks, A Guide to Financial Planners and "The One-Month Plan to Master your Money." In 2020, Tanza was the editorial lead on Master Your Money, a yearlong original series providing financial tools, advice, and inspiration to millennials. Tanza joined Business Insider in June 2015 and is an alumna of Elon University, where she studied journalism and Italian. She is based in Los Angeles.

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Rickie Houston

Senior Wealth-Building Reporter

Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.

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Elias Shaya

Jr Compliance Associate

Elias Shaya is a junior compliance associate on the Personal Finance Insider team based in New York City. Personal Finance Insider is Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that readers already know and love. The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Elias is the point person for the loans sub-vertical and works with the editorial team to ensure that all rates and information for personal and student loans are up to date and accurate. He joined Insider in February 2022 as a fellow on the compliance team. Elias has a Bachelor of Science in International Business from the CUNY College of Staten Island. Prior to joining Insider, he volunteered at the New York Presbyterian Hospital, where he worked with the biomedical engineering department. In his spare time, Elias enjoys exploring new restaurants, traveling to visit his family in Lebanon, and spending time with friends.

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