8 Top Investment Apps For Millennials [2022]

Do you want to succeed in the stock market? First, you need a solid investment app, such as these eight best investment apps for millennials this year.

Introduction

Almost every type of investment has a lengthy learning curve. And this is why young people have an added advantage when it comes to investing. After all, they have all the time to study the stock market, correct losses, and refine their strategies. So if you are a millennial, one of the best financial decisions you can make is to embrace the stock market.

To succeed in the stock market, take advantage of the tools provided, such as the best investment newsletters and investment apps. Investment apps help you track your account in real-time, enabling you to learn about the market and trade stocks quickly. Consider eight of these best investment apps for millennials:

1. Robinhood

One of the most outstanding aspects of the Robinhood investment app is its commission-free service. The only charges you will come across are for all sell orders. Otherwise, the app does not charge fees for opening or maintaining the account. This makes it an ideal app for young people looking for low-cost yet profitable investments.

Robinhood provides access to over 5,000 ETFs and stocks. It also allows millennials to trade in both fractional shares and whole shares of stocks. In addition, the app will enable users to sell, buy and even store cryptocurrency on the app.

2. SoFi Invest

The SoFi invest app aims to be an all-in-one investment platform for individual investors. It allows users to trade without commissions and fractional shares. Additionally, users can use Automated Investing to invest with little to no hassle. SoFi Invest offers zero-commission trades in stocks and ETFs. The app has several advanced features to help millennials reach their goals and create long-term investment portfolios. 

3. Fidelity Investments

When you sign up for the Fidelity investment app, you get an IRA, an investment account, a retirement account, a Robo-advisor account, and even a checking account. In addition, the app allows you to manage all your money by placing it under one company and one dashboard. 

Also, Fidelity investments provide regularly updated research on mutual funds and ETFs and articles on investing. And if you ever need personal help, you can contact the Fidelity representative.

4. Acorns

Acorns is an ideal investment app for millennials looking to invest with little money. It is usually linked to a PayPal account, a debit, or a credit card. The app rounds it to the nearest dollar for every purchase made using these accounts. Then, it invests the difference obtained in an exchange-traded fund (ETF) portfolio. 

Alternatively, young investors can allow the app to make automatic investments from their bank accounts. And the good thing about Acorns is that it does not have a minimum balance requirement when opening the account. 

5. TD Ameritrade

You can begin investing with the TD Ameritrade Investment App with no minimum account balance. You can invest in stocks, bonds, mutual funds, EFTs, and even futures and options. In addition, this company offers real-time customer support through email, live chat, phone, and in-person at 30 branches.

Whether you’re a beginner or an experienced investor, you’ll enjoy the many benefits of using these investment apps. You can set up price alerts on equities and bonds and deposit and withdraw up to $50,000 each day. You can even invest with your smartphone or tablet if you’re a millennial.

6. Invstr

What better way to learn how to invest than from the investing community itself? And the Invstr app allows you to do just this; you get to know tips from the investing community and understand why they prefer certain stocks over others. 

And the good thing about Invstr is that it provides stock market education in a fun way. For example, it includes a fantasy stock game that allows you to manage virtual portfolios and interact with other investors. 

7. Stash

This is just the right investment app if you are a beginner with little to no knowledge of the stock market. This app allows young investors to invest in over 3,000 funds and stocks in fractional shares. Also, it adds a thematic name to every commonly-used ETF, such that the beginners understand the different types of investments and how to browse.

Besides, Stash offers an educational platform for beginners. For example, it includes many podcasts and a site of articles that helps young investors learn the art of trading. The account has a minimum balance requirement of $5.

8. Betterment

The Betterment investment app offers a safe portfolio and a cash management account. These portfolios are managed using a variety of ETFs that focus on two key aspects: when you need cash and your risk tolerance. Still, the app can also help you find investments with higher returns, especially if you are the sort that can deal with a higher risk.

Compared with other financial advisors, Betterment has a smaller price. For example, basic accounts charge a management fee of a mere 0.25%. More so, the app does not require any minimum account balance.

Conclusion

Millennials are increasingly turning to mobile devices to manage their finances. These apps offer a range of features, including investment advisors, diversified portfolios, and automated investing. As a millennial, you want to use your time wisely; and the best way you can do this is by investing.

The above-suggested eight best investment apps for millennials will help you invest smartly and grow your investments with the least effort possible!