{"id":3617,"date":"2020-08-20T20:11:00","date_gmt":"2020-08-21T03:11:00","guid":{"rendered":"https:\/\/financer.com\/?p=3617"},"modified":"2024-01-17T01:31:48","modified_gmt":"2024-01-17T09:31:48","slug":"the-best-investment-apps-for-small-dollar-investing","status":"publish","type":"post","link":"https:\/\/financer.com\/investing\/articles\/the-best-investment-apps-for-small-dollar-investing\/","title":{"rendered":"The Best Investment Apps for Small-Dollar Investing"},"content":{"rendered":"\n<p><strong>Just started to invest and looking for the top investment apps? Bingo. In this article, we&#8217;re reviewing the best apps for investing in 2022.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/financer.com\/invest\/investment-apps\/\">Investment apps<\/a> make the whole investment concept easy to understand and much more accessible to experienced and new investors alike.<\/p>\n\n\n\n<p>You can now sign up for an investment app and manage your portfolio from the comfort of your own home.\u00a0Before deciding which stocks to invest in, you can use a\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.wallstreetzen.com\/\" target=\"_blank\">stock research platform<\/a>\u00a0to gain more insights.<\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Investment apps generally offer low fees and easy service access. They use everyday language that enables more people to gain confidence in their financial literacy with <a href=\"https:\/\/financer.com\/blog\/the-best-personal-finance-apps\/\">personal finance<\/a>.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Back in the day, those who dealt in investments had to call a stockbroker and organize a trade. The whole way the <a href=\"https:\/\/financer.com\/blog\/stock-market-crash-2021\/\">stock market<\/a> was run enabled huge commission charges. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Stock investment apps are still run by investment brokerages. <\/span>They have just made it much easier to conduct buying and trading for the average person.\u00a0\u00a0<\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Stock investment apps are committed to simplifying the process and making investing more accessible<\/span> which is great news for us!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Best_Investment_Apps_\">Top 4 <span data-preserver-spaces=\"true\">Best Investment Apps <\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">At Finan<\/span>c<span data-preserver-spaces=\"true\">er.com, we recommend the following as the best investment apps for beginners<\/span>:<\/p>\n\n\n\n<ul><li><a rel=\"noreferrer noopener\" href=\"https:\/\/financer.com\/company\/stash\/\" data-type=\"company_single\" data-id=\"22064\" target=\"_blank\">Stash<\/a><\/li><li><a rel=\"sponsored nofollow noopener\" href=\"https:\/\/financer.com\/company\/acorns\/redirect\/\" data-type=\"URL\" data-id=\"https:\/\/financer.com\/company\/acorns\/redirect\/\" target=\"_blank\">Acorns<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/financer.com\/company\/sofi\/\" data-type=\"URL\" data-id=\"https:\/\/financer.com\/company\/sofi\/\" target=\"_blank\">SoFi<\/a><\/li><li><a href=\"https:\/\/financer.com\/company\/betterment\/\" data-type=\"company_single\" data-id=\"21519\" target=\"_blank\" rel=\"noreferrer noopener\">Betterment<\/a><\/li><\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">You can invest with almost unnoticeable amounts of cash. Both Acorn and Stash offer opt-in features that<strong> round up your purchases<\/strong> through your debit account to the nearest dollar.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Below is a breakdown of what each investment app offers.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Stash_Investment_App\"><span data-preserver-spaces=\"true\">1. Stash Investment App<\/span><\/h3>\n\n\n<h3>Key features<\/h3><br><ul><li>Fractional share offerings<\/li><li>Investment education<\/li><li>$0 account minimum<\/li><\/ul>\n\n\n<p><span data-preserver-spaces=\"true\">Stash is a great investment app for beginners and probably &#8220;the&#8221; best app for investing. Stash keeps your interest and makes things super simple with its categorical investing. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">It focuses <strong>mainly on EFTs <\/strong>and a smaller portfolio of stocks. For new investors, EFTs are the safest way to diversify your investment portfolio.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Instead of forcing you to choose a few individual <a href=\"https:\/\/joywallet.com\/article\/best-stock-research-websites\/\">stocks to invest in<\/a>, Stash lets you choose from a range of portfolios.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Stash works by letting you set up the app and take a regular withdrawal from your bank as little as $5 a month. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Still, of course, you are not going to see huge gains on such a small amount. But it is an excellent way to increase your financial literacy with a little chance of loss.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">You can choose to have money withdrawn every week, every two weeks, or every month. When it takes this cash, you can set it to <a href=\"https:\/\/financer.com\/invest\/robo-advisors\/\" data-type=\"page\" data-id=\"22051\" target=\"_blank\" rel=\"noreferrer noopener\">automatically invest<\/a> in select areas, or you can manually invest it.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">From there, you just watch your account grow and collect the\u00a0<a href=\"https:\/\/financer.com\/personal-finance\/calculator\/compound-interest\/\">compound interest<\/a>.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Acorns_Investment_App\">2. <span data-preserver-spaces=\"true\">Acorns Investment App<\/span><\/h3>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><h3 id=\"Acorns\">Key features<\/h3><li><p> Round up feature<\/p>\n<\/li><li><p> Hands-off investing<\/p>\n<\/li><li><p> Good for people who struggle to save<\/p>\n<\/li><\/ul><\/div>\n\n\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/financer.com\/company\/acorns\/redirect\/\" data-type=\"URL\" data-id=\"https:\/\/financer.com\/company\/acorns\/redirect\/\" rel=\"sponsored nofollow noopener\" target=\"_blank\">Acorns<\/a> works because it monitors transactions on any connected bank account and rounds each transaction up to the next dollar. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That rounded-up amount is then transferred to your Acorns account, and when it hits $5, it gets invested.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">It is a great feature, but it can seem a little invasive at first. Think of it like the old Bank of America account that offered a similar roundup service. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">But instead of investing your funds, it would transfer them into a <a href=\"https:\/\/financer.com\/personal-finance\/banking\/savings-accounts\/\">savings account<\/a>.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Acorns isn&#8217;t always the best investment app for beginners new to the finance game because you cannot really choose your own investments. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Instead, Acorns checks your goals and invests your money the best way they feel will help meet them. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">While you&#8217;ll still see gains here, the fun is taken out of it by missing out on choosing what to invest in. It can be beneficial if you don&#8217;t want to decide where you&#8217;re money goes. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Still, we highly recommend Stash or <a href=\"https:\/\/financer.com\/company\/sofi\/\" data-type=\"company_single\" data-id=\"750\">Sofi<\/a> as the best stock investment apps for beginners who want to build their financial knowledge, which is key to good long-term investments.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The Acorns round-up feature is like finding <strong><em>10 bucks<\/em><\/strong> in your jacket pocket. You don&#8217;t really notice the extra round-up money coming off your purchases. <\/span><\/p>\n\n\n\n<p>It can add up really quickly. If you&#8217;re just starting out with this whole investment thing, it is a great way to ensure you are earning interest<span data-preserver-spaces=\"true\"> on your newly discovered savings.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Acorns customer service is a plus with the app. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">They also have a prediction interface that shows you what small changes to your account will do to your\u00a0<a href=\"https:\/\/financer.com\/net-worth-before-you-save-for-retirement\/\">retirement<\/a>\u00a0savings.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"SOFI_Invest\"><span data-preserver-spaces=\"true\">3. SoFi<\/span> Invest<\/h3>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><h3 id=\"SOFI_\">Key features<\/h3><li><p> Automated Investing<\/p>\n<\/li><li><p> Low-cost investment options<\/p>\n<\/li><li><p> Free financial advice and education<\/p>\n<\/li><li><p> Zero management fees<\/p>\n<\/li><li><p> Fractional share options<\/p>\n<\/li><\/ul><\/div>\n\n\n<p><span data-preserver-spaces=\"true\">If you are really fresh and want to learn as much as you can about personal investment, <a href=\"https:\/\/financer.com\/company\/sofi\/\" data-type=\"URL\" data-id=\"https:\/\/financer.com\/company\/sofi\/\" target=\"_blank\" rel=\"noreferrer noopener\">SoFi Invest<\/a> might be your best investment app. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">They offer investment education and personal financial planning.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">You don&#8217;t have to have a lot of money to use this financial app as SoFi offers a $1 minimum deposit and <strong>no fees for online stocks or ETF trades<\/strong>. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In our SoFi review opinion, we like that they provide an option to purchase fractional shares; this means you get more stock options with less money.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">They offer a broad range of low-cost investments, and their management is free. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">They are great if you want to be a hands-off investor but know that your money is growing or if you are wanting to <a href=\"https:\/\/financer.com\/blog\/improve-your-financial-security\/\">improve your financial<\/a> knowledge.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">SoFi clients have a choice of portfolios that are arranged by risk tolerance. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">They help you understand your investment objectives, such as if you want to risk high for short-term gain or want a more guaranteed long-term investment growth.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">SoFi also offers <strong>high-interest savings<\/strong> accounts for those who want to put some money away for a rainy day or build an <a href=\"https:\/\/financer.com\/emergency-fund\/\">emergency fund<\/a>.\u00a0<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"SOFI_Invest\"><span data-preserver-spaces=\"true\">4. Betterment<\/span><\/h3>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><h3 id=\"SOFI_\">Key features<\/h3><li><p> Great for beginners due to no account minimum.<\/p>\n<\/li><li><p> Certified Financial Planners\u00a0are accessible for all users<\/p>\n<\/li><li><p> Sustainable, income, and cryptocurrency portfolios are available.<\/p>\n<\/li><\/ul><\/div>\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/financer.com\/company\/betterment\/\" data-type=\"company_single\" data-id=\"21519\" target=\"_blank\">Betterment\u2019s\u00a0<\/a>account setup is very easy; simply add your name, email, and password, and complete a basic profile. <\/p>\n\n\n\n<p>After creating an account, you can complete the brief goals, timeline, and risk questionnaire. It provides an investment portfolio comprised of diverse U.S. and international stock and bond ETFs, informed by your responses to the initial quiz.<\/p>\n\n\n\n<p>There\u2019s <strong>no minimum required to fund<\/strong> the account, so you can get started investing with small dollar amounts. <\/p>\n\n\n\n<p>You can also view portfolio options before funding, which is a plus, but you can&#8217;t view potential portfolios without setting up an account that requires an SSN.<\/p>\n\n\n\n<p>Digital clients can purchase low-fee financial planning packages, while Premium users with $100,000 or more have unlimited access to Certified Financial Planners at no additional cost. <\/p>\n\n\n\n<p>Phone customer service representatives are available to help with questions.<\/p>\n\n\n\n<p>Betterment offers two account types: checking and Cash Reserve savings accounts, which can be opened separately from the investment accounts. <\/p>\n\n\n\n<p>The checking account includes a Visa cash-back debit card and ATM fee reimbursement in the US and internationally. <\/p>\n\n\n\n<p>There are no overdraft fees or minimum balance requirements. The Cash Reserve is a high yield cash account with funds deposited across several banks.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Comparison_of_Top_Investment_Apps\">Comparison of Top Investment Apps<\/h2>\n\n\n\n<p>Those are our four top investment apps for people who are just starting out with investing.<\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">While Acorns, Stash, and SoFi are best for beginners, other great <a href=\"https:\/\/financer.com\/the-best-personal-finance-apps-of-2019-tested-for-you\/\">finance apps<\/a> are on the market<\/span> and might offer more features.<\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Once you have some experience in building your portfolio, you may want to branch out and try other financial apps.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Shop around the market and find one that suits you. Make sure to look at the app charges and the trading fees for buying and selling stocks. Many will offer no fees or a 0.25% annual fee.\u00a0\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\"><em>But as far as getting your feet wet, try any of these four great apps and begin the journey of building your wealth to gain financial freedom.<\/em><\/span><\/p>\n\n\n\n<p>What do you think is the best app for investing? Write a comment below!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just started to invest and looking for the top investment apps? Bingo. In this article, we&#8217;re reviewing the best apps\u2026 <\/p>\n","protected":false},"author":4152,"featured_media":14531,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"disable_branded_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ep_exclude_from_search":false,"footnotes":""},"categories":[89],"tags":[],"_links":{"self":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/posts\/3617"}],"collection":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/users\/4152"}],"replies":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/comments?post=3617"}],"version-history":[{"count":50,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/posts\/3617\/revisions"}],"predecessor-version":[{"id":51158,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/posts\/3617\/revisions\/51158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media\/14531"}],"wp:attachment":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media?parent=3617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/categories?post=3617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/tags?post=3617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}