Are Investment Apps safe? Check It Out Now

Are investment apps safe? This is one of the most active questions you should ask yourself when considering investing in a mobile app.

To break it down in this article, you will find out if these apps known as investment apps are safe or not safe.

Also along with that, I will introduce you to some apps you can invest in as a student and a beginner.

But before we proceed, let’s recognize some of the best Investment apps for beginners.

 

Best Investment Apps For Beginners

Talking about best investment apps for beginners, these apps are for novices in investing, hence these investing platforms do not complicate things, they are convenient, easily used and easy to understand by anyone who has begun the journey of investment.

Most of the best investment apps for beginners are listed below:

 

1. M1 Finance

M1 finance is an investment platform which was founded in the year 2015 by Brian Barnes, it is headquartered in the United States, and this platform could easily fit the access of a beginner into investment. Furthermore, M1 has an investment app known as “M1”.

Aside from investing your money in M1 finance, you can also borrow a certain amount of money from the platform depending.

M1 is also labelled as a platform to help its users build their wealth from scratch.

This app is flexible, automated, customizable and commission-free for beginners in investment.

The platform has organized its app as a free trial for users to try it in their first three months of signing up.

However, this platform is also not the best for short-term traders because of its limited trading window and lack of many order types. 

There are other missing features in this investing app for beginners but the most obvious one is Tax Loss Harvesting (TLH).

 

2. Robinhood

robinhood.com is an electronic platform which was established in the year 2013 by a Russian man, Vladimir Tenev and Baiju Bhatt. It is headquartered in the United States.

Talking about Which stock app is best for beginners? This platform provides services of Stockbroker and Electronic trading platform, it could be considered the best stock app for beginners.

Robinhood is one of the best investment apps for novices into investment, this is because of its free trades and no account minimums.

For beginners into investment, you are not guaranteed educational resources and research tools in this investment platform.

This investment app for beginners introduces you to the investment option of holding stocks that will pay dividends. Though you can also choose to reinvest your dividends to gain compound interest.

Asset Appreciation is one of the investment options this app offers, it means that you can sell what you purchased at a lower price at a higher price irrespective of your level of investment.

 

3. Stash

Stash.com is an investment platform recommended for beginners in investment.

Stash is a United States-based app founded in the year 2015.

It is a personal financial app that can improve anyone’s financial life.

However, this investment app for beginners is also attached to a bank account of Green Dot Bank.

This means that every user of the investment app has a Green Dot bank account attached to his or her Stash investment app account.

I should recommend the Stash Investment app as one of the best investment apps for novices due to the educational content and option to create and manage your portfolio.

This investment app is also the best in savings, it indicates its users save an average of $1,4329 per year.

It is always recommended to invest what you can afford to lose, this is because the amount of money you earn in the Stash investment app will depend on the amount you invest.

 

4. SoFi

SoFi is a social financial technologies company which was founded in the year 2011, the company is however headquartered in San Francisco, United States.

This company is labelled as one of the performing investment apps for beginners investors in the United States.

This investment app is not the best for advanced investors due to its limited investment selection and features.

There is no minimum account balance to start investing in the SoFi app. You can even start with $1.

This investment platform offers no-fee cash for account management.

Also, note that investing in SoFi will not subject you to charge fees, SoFi does not charge fees for management, talk less of advisory or administrative taxes.

Netizens of this investment app are allowed to use a selection of low-cost ETFs to choose 10 portfolios.

 

5. Acorns

Acorns is a financial service provider which was founded in the year 2012 by Jeffrey James and Walter Wemple.

The founder also designed this platform for savings and investing for people who are newly into investment.

To sum it up, Acorns is a rob-advisor app with high security and encryption methods to help save your data.

Its products are; investment management, stock trading, stock portfolios and investment portfolios.

As a beginner in trading and investing, you can use this app to earn also. Shopping with Acorns 350+ retailer partners is a nice idea for earning in this app. 

After shopping, the retailer will deposit into your Acorns account a percentage of your purchase.

To proceed with shopping with Acorns 350+ retailer partners,  your credit or debit card needs to be added to your Acorns account.

 

5. Betterment

Betterment is an online platform which provides cash management systems and digital investment services.

This Betterment investment app is located in the United States and has existed since in the year 2008.

The company is registered with the securities and exchange commission (SEC) in the United States.

It is one of the best investment apps for new investors who want to grow their portfolios.

The betterment app average annual return of stock investment is +6.3%.

However, Betterment is a Robo-advisor company which maintains heavily encrypted websites which give you hope of not losing your data and your money.

 

6. Webull

Webull is one of the most popular apps meant for tyro into investment. The idea of the mobile app was published in the year 2017 in the United States. The current CEO is Anthony Denier.

The webull app features investment options which could fit a beginner into investment. These features are;

  • ETFs 
  • Stock trading and exchange 
  • electronic trading

 

Despite this platform being Robo-advisor, it is ultra-safe because it is regulated by the securities and exchange commission (SEC) in the United States.

 

Investment Apps For Students

Have you ever asked yourself  “Can I invest in stocks as a student?”

As a student who has investment plans but does not know where to invest your money.

I have taken my review on investment apps for students, these apps will help you out in your journey of investment.

 

1. Webull

Webull is a Chinese-owned platform headquartered in the United States. It was founded in the year 2017.

Its current CEO is Anthony Denier.

Webull is also available in a mobile application which features electronic trading, investment, stock trading and exchange-traded funds.

This investment app is approved for students who are into trading and investing.

Furthermore, this mobile application could be accessed through an Android phone, iPhone, Laptop or any other gadget. Webull is considered safe because it is regulated by the securities and exchange commission (SEC) in the United States.

Unlike other investment apps for students, Webull has a limited product portfolio, covering just ETFs, options and stocks. Aside from bank transfers for deposits and withdrawal in Webull, no other means exists in the webull investment app.

However, Webull answers the question of, Which trading is best for stocks?

 

2. Public.com

Public.com is an investment app which is commission-free and also supports stock and ETFs trades.

This investment app has abandoned the use of monetizing payment for order flow, they are now into the tipping system.

Public.com is otherwise known as an investing social network, whereby a member of the social investing community can own his major shares of stocks and ETFs and share knowledge and ideas about stock investment within the social community.

The investment app is also entitled to offer a free $10 sign-up bonus for trading if only you are ready to make an initial deposit.

However, there are no limited investment options as this app does not charge for trading commissions.

As a student in trading and investing, Public.com is recommended for you.

 

3. Acorns

Acorns investment app is a financial service provider whose services aim at

  • Stock trading
  • Investment portfolios
  • Investment Management 
  • Stock portfolios

Compared to a random investment app, Acorns is recommended for student investors, it is a Robo-advisor with a higher security level and encryption.

Aside from Stock exchange and investment, you can earn from shopping with Acorns 350+ retailer partners, after purchasing from a retailer in the online shop, the retailer you purchased a product from will deposit a percentage of your purchase into your Acorns account.

 

4. Stash

Stash is an investment platform recommended for beginners in investment.

Stash is a mobile app in the United States invented in the year 2015.

With the help of this app, anyone’s finances can improve from negative to positive.

This investment app for beginners is also linked to a bank account of Green Dot Bank.

This means that every individual who uses this investment app is entitled to have a Green Dot bank account.

For the novices, Stash is recommended for you because of the educational content and option to create and manage your portfolio the investment app offers.

This investment app is also the best in savings, it has indicated users’ savings of an average of $1,4329 per year.

Never forget that it is proposed to invest what you can afford to lose, this is because the amount of money you earn in the Stash investment app will depend on the amount you invest.

5. Vanguard

Vanguard is a basic free stock and ETFs trades market app.

Vanguard investment app could be the best investment app for you if you do index investments.

Comparing another investment app to Vanguard, this investment app has a trading commission fee of $0, you could end up earning nothing even after your investment in Vanguard.

Vanguard occurs for student investors and also short-term traders.

6. M1 Finance

M1 Finance is an investment app which was established in the year 2015 by Brian Barnes, it is in the United States, and this app is designed for student investors because it is automated, commission-free for student investors’ investment and flexible.

Aside from investing your money in M1 finance, you can also borrow a certain amount of money from the platform depending, it, therefore, means that you can get a loan from the M1 app.

The M1 investment app provides a free trial to anyone newly registered to the app, this free trial is only for 3 months.

Short-term traders do not rely on this app for their investment returns because it has a limited trading window and lacks many order types.

 

Normal Investment Apps

These types of investment apps could be assessed through Android, iPhone, Laptop, Tablet and any other gadget which could easily access your phone’s play store without any network fluctuation.

1. Stockpile

What android app is best for the stock market? Through analysis, Stockpile has been regarded as the best investment app for the stock market. 

Stockpile is a digital app and an online brokerage that offers two types of accounts: individual brokerage accounts and custodial accounts for stock exchange.

This app has an easy-to-use mobile platform that is great for investors.

Everything which includes; account set-up, trading, purchasing, withdrawal and funding are tyro-friendly.

Investors interested in using this app could learn its terms and easily navigate to Www.stockpile.com.

This brokerage online app has registered with the United States securities and exchange commission (SEC) and it is also a member of the financial industry regulatory authority (FIRA).

 

2. Robinhood

The invention of robinhood.com is by Vladimir Tenev and Baiju Bhatt. 

This platform was established in the year 2013 and it is headquartered in the United States.

The platform known as an electronic platform uses technology systems and computer programs to deliver financial services to its users.

The Robinhood mobile app acts as a Stockbroker and also designed itself as an Electronic trading platform.

Robinhood is subjected to free trades and no account minimum of users.

As a beginner in an investment, you are not advised to depend on Robinhood for research tools and educational resources.

Holding stocks that will pay dividends is a frequent investment option in Robinhood.

 

3. Charles Schwab

Charles Schwab is a Robo-advisory app which features as a service provider of; financial advisory, banking and brokerage services for its functioning subsidiaries.

However, Charles Schwab is headquartered in the United States as a multinational bank, financial service company and stockbroker that offer a remote trading platform.

There is no minimum to open a Schwab account but you need a minimum of $100 or less to start investing as the case may be.

Schwab also has 7 investing options which are;

  • Future
  • Options
  • Stocks
  • International stocks
  • Exchange-traded funds (ETFs)
  • Bonds and fixed income products
  • Money Market Funds.

 

4. Fidelity Investment

Fidelity Investment is an abandoned platform known as FMR and Fidelity management, the headquarters of this investment company is in the United States.

Unlike other brokerage companies, Fidelity Investment adds retirement plans and wealth management to its features.

The standard account minimum balance in Fidelity Investment is $0. 

With over 40 million investors and $11.8 trillion as total customer assets, Fidelity has surpassed Charles Schwab which has only 33.4million active brokerage accounts and about $7.69million worth of customer assets.

However, to trade mutual funds in Fidelity, a $2,500 minimum deposit is required.

For margin trading, a $5,000 minimum deposit is required to access such trade.

Stock Trades, Online stock and ETF trades do not require a minimum, it is, therefore, $0.

 

5. Ellevest

Ellevest is a Robo-advisor investment platform with a high level of security and encryption which financial literacy program is designed for women in investment. 

It was co-founded by Sallie Krawcheck in 2014.

Ellevest mobile app gives all members access to a range of financial help for an extra fee as the case may apply. 

Depending on the user’s membership plan they can access a CFP at 20%, 30% or 50%.

 

6. Invstr

As it is said in the Invstr platform “we stand for individual empowerment, diversity and collaboration” 

Invstr has already established its mission as employment which can help everyone to learn how to invest smartly and build a portfolio in investment 

Invstr is ranked best for active traders that aim to take a chance on commission-free investments.

Educational resources and market analysis are also supplied in this mobile app.

However, Invstr could be predicted as a good fit for beginner investors since Its Pro version offers a portfolio-building feature.

There is no service fee charged to download this app, it is free. Even the educational resources the platform provides do not come with charges.

Invstr has a premium level which subscription is $3.99 per month 

Note that the premium feature introduces you to  Interactive investing courses and Extra trades.

 

 7. Wealthbase

The wealthbase of a subdivision means the sum of the “adjusted assessed valuation of real property” and “net taxable income”.

A social investing app, allowing users to play fantasy trading games with friends.” · “Wealthbase is the Robinhood of simulated trading.” · “Slickly designed and Wealthbase free? Wealthbase is free to play with friends or as an invited member of a club or brand game. Those who want to sponsor club games will pay $20 per game plus five cents per player per day.

8. Coinbase

Coinbase is a mobile app with Robo-advisor which issues to investors and traders investment options, cryptocurrency trading, fiat money exchange and digital currency earnings.

Coinbase in the year 2022 has emerged as one of the best trading and investing apps.

Coinbase therefore features investment tools which you could use to trade the currency of your choice.

You can make use of coinbase by buying any digital currency at a low to sell at a higher price.

Coinbase in its current state is sharing free diamonds which could be used to purchase an NFT.

 

9. Wealthfront

With the wealthfront investment app, you can Diversify your investing with an automated portfolio, you can also help maximize your returns, minimize your taxes and look into your risk management.

There is no scam in the wealthfront app because cash accounts are protected by $1,000,000 FDIC insurance.

Then its Investment accounts are protected with up to $500,000 insurance by the SIPC. This insurance covers up to $250,000 in cash.

You can use this app to test your trading and investing level, it does not require a minimum amount to open an account.

Left that one, it is recommended as a normal investment app.

Investment Apps for Android

Investment apps for Android are one of the best investment platforms.

You could easily access it with your android phone if you are an android user.

The following are some of these investment apps for Android:

 

1.FXTM

FXTM is one of the global leaders in online financial trading and investing, issuing FX, indices and commodity exchange. It is also one of the best android investment apps.

The Minimum deposit in FXTM is $50 and $100 in FP markets.

There are over 250 financial instruments in the FXTM app, these instruments includes; major and minor currency pairs.

Its Account currencies are; USD, EUR, GBP, and NGN.

With a minimum deposit of $10.

There is no special feature in the FXTM app so it is regarded as a normal investment app.

 

2. Instaforex

You can trade foreign exchange irrespective of where you are; on a business trip, at work, or while in school with the help of the InstaForex platform. 

This platform is now accessed through a mobile gadget.

The features of the Instaforex account allow trading with three deposit limits, there are;

  • Micro Forex with a minimum deposit of $1-10
  • Mini Forex with a minimum deposit of $100 
  • Standard Forex with a minimum deposit of $1000
  • Instaforex account currencies are EUR, USD, Cents, and GBP.

 

3. Yahoo! Finance

Yahoo! Finance is a media product that is part of the Yahoo! network.

It is known for providing data financial news and commentary including stock quotes, financial reports, price releases and original content.

Yahoo Finance also can issue you with free stock quotes, social interaction, portfolio management resources, mortgages, up-to-date news and international market data.

 

4. Stocktome

StockToMe is the first stock opinion marketplace. 

It’s completely free to sign up, what it does is Users can post their opinions on stocks or crypto and earn awesome prizes.

Stocktome is a normal investment app that supports low-key investments.

The level of scammers in the stocktome platform is quite alarming, hence, you need to be careful with whom you interact on the platform.

 

5. Growth-Edge UK

Growth-edge is a United kingdom Based Registered Investment platform for Investors. 

This platform has an experienced team made up of developers, chart analysts, and market traders.

Growth-edge company has been pinpointed as a scam platform.

It is believed that its admin, Ignatius Fransico, is a fraudster who scams investors, hence you need to be more than careful with this platform. No one will be held responsible if you lose your money on this platform.

 

6. eToro

eToro is a fintech investment platform with over 25M users.

Starting with $10 you can trade and invest in a diversified portfolio, or try risk-free with a virtual portfolio.

As a new trader, this platform is not for you because its non-trading fees are high as there are commissions for withdrawal and inactivity. 

Withdrawals can be slow and USD is the only currency available in this app.

However, it’s difficult to contact customer support.

eToro charges its users a 1% fee for buying or selling crypto assets on its platforms. 

For stocks and ETF trades, there is no commission.

 

7. Binance.US

The invention of Binance.US came as a result of Binance which was banned in the United States in 2019.

In response, Binance partnered with a U.S. branch, known as the Binance.US, which the company says is a separate exchange with different aims.

Binance.US is legal, but still not available in all U.S. states.

Binance.US can be said to be related to  Binance. It was built as a separate exchange following a regulatory ban on Binance in 2019. Though the two service providers’ investment features stick to the same.

 

8. Investing.com

Investing.com issues free live stock market data, streaming charts, portfolios, financial news and real-time quotes.

This app is combined as a financial platform and news website.

It is among one of the top three global financial websites to ever exist. 

Its services are

  • Futures 
  • Information about stocks,
  • Market Quotes
  • Analysis
  • Options
  • Economic calendar and 
  • Commodities

However, the platform is headquartered in various places:

  • Madrid
  • Israel
  • Cyprus
  • Nicosia
  • Tel Aviv
  • Spain
  • Shenzhen
  • China

It delivers its products in 24 language editions. This app ranks 183 among Stock Trading platforms.

 

9. E*Trade

E*trade provides trading tools and resources for keeping direct contacts on the markets or watching over your stocks, bonds, and funds that are not in your current portfolio. 

With E*trade you can track the pricing,  trade performance, and news related to the investments you are interested in.

E*trade app charges a commission of $0 for ETFs, option trades and online US-listed stock.

10. Ally Invest

Ally Invest was founded in the year 2005 to help out investors with brokerage services, investment products, financial services, banking and stock exchange.

This app is rated as one of the best investment apps with helpful tools and also a platform which could be easily used.

Talking about its account opening, there is no minimum wage to open an account on Ally Invest app.

Compared to any random trading app, Ally Invest has a low cost, low minimum and standard trading.

 

11. Google Finance

Google Finance is a website focusing on business news and financial information organized by Google.

These products are real-time market quotes, up-to-date financial news, International exchanges and analytics to guide you on investments.

MSN Money is regarded as one of the best Google Finance Portfolio alternatives because the platform offers a lot of information on stocks, which includes the price, PE and dividends information.

12. Coinbase

Coinbase is a platform which supports the use of the mobile application to access its financial services.

with a high level of security and encryption which is placed in the app to issue out to investors and traders investment options with no restriction. 

Its products are; cryptocurrency trading, fiat money exchange and digital currency earnings.

Coinbase in the 21st century has been singled out as one of the best trading and investing apps.

Coinbase, therefore, features investment tools which you could use to trade digital and fiat currency of your choice.

This investment app is currently sharing free diamonds which could be used to purchase an NFT, Just as I stated earlier.

13. Wealthfront

Wealth front is a mobile app which can help Diversify your investing with an automated portfolio.

It can also maximize your returns and minimize your taxes, control your risk and your investments.

Wealthfront Cash accounts are guided by $1,000,000 FDIC insurance through its member banks. 

These mobile app Investment accounts are protected with up to $500,000 insurance by the SIPC and this insurance covers up to $250,000 in cash.

In a situation of not having enough money to fund your investment, you can choose this app because it has no minimum account funding.

14. Firstrade Securities

The invention of Firstrade securities came in, in the year 1985. It is therefore one of the oldest broker-dealers and stock brokerages in Flushing.

What can be traded on this platform are;

  • Bonds
  • Exchange-traded funds (ETFs)
  • Mutual Funds
  • Stocks
  • Options 

Firstrade is seen as an outdated broker-dealer because it is an older platform, being an older platform does not make the app a scam but rather sums up its trust level.

Modern investors do not use this app for their investments.

 

15. Betterment

Betterment is a mobile application which provides a cash management system and digital investment services.

This Robo-advisor app is headquartered in the United States and was founded in the year 2008.

Betterment is a legit investment app because it is registered under the securities and exchange commission (SEC) in the United States.

Recommending a mobile application that helps you invest, Betterment should be listed as its average annual return of stock investment is +6.3%.

Just like I stated earlier, this investment app for mobile is highly secured and encrypted to save your money and also do the same to your data.

 

Frequently Asked Questions

 

Are Investing Apps Worth It?

Yes, Investment apps are worth investing in. Depending on your investment plans and strategies you can either grow your financial life or lower it. Also, before blaming any investment app, get more training on investment.

 

Can I know The Best App For Investing?

The best app for investing depends on what type of investment you are looking into. The following are investment apps and what they are best in.

  • Betterment – best app for overall
  • Invstr – best investment app in education
  • Wealthbase – best in savings
  • Fidelity Investments – best in money management 
  • Robinhood – best for active traders 
  • Acorns – best in savings
  • Stockpile – best in stock gifting
  • Wealthfront – best in portfolio management 
  • Ellevest – best for social investment 
  • Charles Schwab – best app for beginners

Can I Know The Best Android Investment Apps

What is the best app for investing? Overall, Betterment is rated as the best investment app irrespective of the investor using it.

Conclusion

From my review of investment apps. Yes, Investment apps are safe depending on the one you are in contact with.

To detect which investment app is legit or a scam, Investment apps with many offers to be given if a task is completed are mostly scams, therefore try to avoid them at all costs.

If you are desperate to make money, you should not try to invest, this is because as a desperate person you might end up losing your money to scammers or impatience.

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