If your looking for the best apps to purchase stocks we have 3 top picks. Each one of these can put you on your way to eventually becoming financially independent. Its also fun to see your money grow over time when logging into each one of them. It does take time however to learn the ins and outs of trading, but using these apps simplify the process. I have personally been using each one of these for the last 3 plus years. Whether your a complete beginner when it comes to trading, or more experienced you can benefit from using all three of them.
1. Our first best app to purchase stocks goes to M1 Finance. This is my current top choice for a robo-advisor that lets you choose your own investments. It stands out from other robo-advisors because you can customize and create your own portfolio. So the way M1 Finance works is they allow you to create what they call “pies”. You get to choose the slices and the percentage you want to go in each one. For example if you want 10% to go in Microsoft that will be 10% percent of your pie. You also have the following options when you create your pie.
- Create your own by choosing your own investments
- Use one of M1’s 80+ preset Expert Pies
- Customize a preset template by deleting or adding slices
Basically M1 Finance lets you purchase fractional shares of companies to spread out your investment. Its my current favorite robo-advisor because there are no commission or management fees. Its an amazing app that lets you setup recurring deposits, and its fun to see your investments grow over time. If your looking to start with something more hands off I highly recommending creating an account. There is however a $100 minimum deposit to start.
2. Our next best app to purchase stocks is Robinhood. Having been a member now for over 3 years this is one of my favorite places to buy and sell stocks. They offer zero commission trading, and have one of the best apps for actively buying and selling. You will need a little bit more experience when it comes to trading to get started on here since its a lot more hands on. You can also trade cryptocurrency such as Bitcoin on the app. If you combine Robinhood with M1 Finance you will be thanking your future self a year down the road. You can also get started with as little as $5 dollars.
3. Our last pick for the best app to purchase stocks is Acorns. I have a love hate relationship with this app since its cool, but could be a lot better. I have seen improvements over the years, but have never kept more than a few hundred in it. I do think its great for a beginner since its completely passive and hands off to use. You simply setup card roundups, or automatic deposits then it invests for you. Its not going to make you rich, but you can grow your money a lot faster than letting it sit in a bank checking or savings. I have seen percent gains anywhere to 3-6 percent when using it.