If you’ve never invested before and you’re not sure where to start, the answer might be right in your hands. There are countless investing apps available for everyday consumers who want to dip their toes in the market without a ton of commitment.
For seasoned investors, investment apps can help make it easy to invest and trade on the go and keep a beat on what’s happening in the market from the comfort of their phones.
To help make your decision a little easier, the Fortune RecommendsTM editorial team reviewed close to 30 popular investing apps available for Apple and Android users right now. We weighed account minimums, the number of assets available to invest in, mobile app ratings, service fees, account perks, and customer service options. (Read our full methodology here.)
- Interactive Brokers
- Tastytrade
- TradeStation
- Charles Schwab
- Fidelity
- E*Trade
- Public
- Ally Invest
- TD Ameritrade
- Webull
The 10 best investment apps of February 2023
Here’s our rundown of the top 10 investment apps, including the key figures you should know before you invest. (Note: Minimum deposit requirements, fees, and other numbers in our list are up to date as of Feb. 28, 2023, and are subject to change.)
1. Interactive Brokers
About: Headquartered in Greenwich, Conn., Interactive Brokers has a 46-year history and offers customers a wide range of assets to invest in, including stocks, options, futures, mutual funds, fixed income, and more.
Minimum to open an account: $0
Mobile app rating: 4.1
Annual account fee: $0
Customer support
Customer service representatives are available to assist account holders 24/7 via phone, chat, email, or mail.
Our verdict
Good for those who want a wide range of investment options. Interactive Brokers took the top spot on our list for its long list of investment options, which include stocks, ETFs, options, futures, cryptocurrencies, bonds, event contracts, and more. It also offers several educational resources via the IBKR Campus website for account holders and those just visiting the site—at no cost. IBKR Campus includes courses, webinars, podcasts, and market commentaries to help investors learn about trading, financial markets, and Interactive brokers' trading tools.
2. Tastytrade
About: Tastytrade (formerly known as Tastyworks) is based in Chicago. It first launched in 2017 offering low-cost options for active day traders.
Minimum to open an account: $0
Mobile app rating: 4.6
Annual account fee: $0
Customer support
For assistance, customers can reach a Tastyworks representative via telephone, Monday through Friday, 7:00 a.m. CST to 5:00 p.m. CST. The website also offers an automated chat support feature.
Our verdict
Good for those who want the best mobile app experience. Tastytrade took the second spot on our list for having the highest mobile app rating among our top 10 picks. Investors can manage their positions anywhere as long as they have Wi-Fi. Users can switch between accounts within the app, view account details, view and create new watch lists, and make quick trades from wherever you are. Tastytrade customers can invest in stocks, options, futures, ETFs, commodities, cryptocurrency, and more.
3. TradeStation
About: TradeStation first launched as a software product that gave customers trading alerts when their strategies’ conditions were met. It later transformed to an online securities brokerage in 2001. TradeStation offers a full suite of trading technology, online brokerage services, and trading education.
Minimum to open an account: $0
Mobile app rating: 4.2
Annual account fee: $0
Customer support
Representatives are available via telephone, email, and live chat, Monday through Friday, from 8:00 a.m. to 5:00 p.m. ET.
Our verdict
Good for those who are active traders. TradeStation’s lack of annual fees and low transaction fees make this app a good option for those who are active traders and making frequent transactions. What’s more, investors can invest in a number of different assets including stocks, ETFs, options, futures, futures options, cryptocurrency, mutual funds, and bonds.
4. Charles Schwab
About: Schwab opened its first branch in Sacramento in 1975, first launched its online trading platform at the start of the internet boom in the late 1990s, and now executes an average of more than 5 million trades per day.
Minimum to open an account: $0
Mobile app rating: 4.2
Annual account fee: $0
Customer support
Schwab offers 24/7 phone and online chat support as well as in-person support at one of its more than 300 branches across the US.
Our verdict
Good for investors who are hoping to keep costs low. Schwab’s platform may be a viable option for investors who are hoping to avoid excessive fees and trade minimums. What’s more, users who open an account with Schwab will have 24/7 access to trading specialists. Schwab’s investment options include mutual funds, ETFs, money market funds, stocks, bonds, and more.
5. Fidelity
About: First founded in 1946 and headquartered in Boston, Fidelity serves its customers through 12 regional sites across the globe and more than 200 investor centers. It prides itself on its low fees, quality customer service, and tools to help customers manage their everyday finances.
Minimum to open an account: $0
Mobile app rating: 4.5
Annual account fee: $0
Customer support
Representatives are available to answer any questions regarding your brokerage account via telephone 24/7, and live chat Monday through Friday between 8:00 a.m. and 10:00 p.m. ET, as well as Saturday and Sunday between 9:00 a.m. and 4:00 p.m. ET.
Our verdict
Good for those who have competing money goals. Not only can Fidelity investors start investing directly though the mobile app with as little as they want, they can also track their saving and spending in the same app. Users can create goals and monitor their progress over time. Users’ investment options include stocks, mutual funds, ETFs, options, bonds, CDs, and more.
6. E*Trade
About: E*Trade first began in the 1980s and is now part of Morgan Stanley, which is best known for its wealth management, investment advisory services, research, and market insights.
Minimum to open an account: $0
Mobile app rating: 4.2
Annual account fee: $0
Customer support
Representatives are available via telephone 24/7.
Our verdict
Good for those who don’t want to be tied to minimum balance requirements. E*Trade’s investment app scored a 4.2 average rating across both Apple and Android storefronts and it doesn’t charge any account fees or pose minimum balance requirements. While E*Trade doesn’t offer chat or email contact options, users can speak with a representative at any hour. E*Trade's investment options include stocks, options, futures, ETFs, mutual funds, bonds, and more.
7. Public
About: Public is an investing platform that allows people to invest in stocks, ETFs, crypto, art, NFTs, collectibles, and more. Through Public’s platform, investors have access to custom company metrics, live shows about the markets, and real-time analysis.
Minimum to open an account: $0
Mobile app rating: 4.5
Annual account fee: $0
Customer support
Customers can reach a Public representative via chat and email support. Note: The link to the live chat provided on the website was not functioning at the time that this was written.
Our verdict
Good for those who want outside-of-the-box investment options. Public’s investing app scored a competitive 4.5 for its mobile app across storefronts, and its investment options included alternative investments like collectibles and fine art that our other platforms didn’t offer. One con to be aware of: Customer service is spotty. With no phone number and a nonfunctional chat option, reaching a representative may be difficult.
8. Ally Invest
About: Ally is an online-only bank that offers a host of investment accounts and tools including a self-directed trading account, robo portfolios, personalized guidance from experienced wealth advisers, Forex trading, IRAs, cryptocurrency accounts, and more.
Minimum to open an account: $0
Mobile app rating: 4.3
Annual account fee: $0
Customer support
For assistance with any of Ally’s bank investment products or services, customers can reach a representative via live chat, email, or phone 24/7.
Our verdict
Good for beginners who need a little extra customer service support. Ally’s investment platform made our list for its zero account fee and minimum opening deposit, its competitive 4.3 mobile app rating, and for having one of the highest customer service scores on our list. While it doesn’t offer as many educational tools and resources as our other picks, it does offer several customer service and investment options including stocks, ETFs, options, mutual funds, and more.
9. TD Ameritrade
About: TD Ameritrade first launched as Ameritrade in 1971 and later became TD Ameritrade in 2006 after being purchased by TD Waterhouse USA from TD Bank Financial Group. It offers self-directed brokerage accounts, professionally managed investment accounts, retirement accounts, education savings accounts, and more.
Minimum to open an account: $0
Mobile app rating: 4.0
Annual account fee: $0
Customer support
TD offers 24/7 phone support and chat support via Facebook Messenger and Twitter Direct Message.
Our verdict
Good for those who value educational resources. TD’s platform took one of the final spots on our list for its long list of educational materials that investors can learn and benefit from, including articles, videos, in-person events, the “Talking Green Podcast,” and more. Investors can diversify their portfolio with several different assets, including: stocks, ETFs, mutual funds, options, fixed income investments, futures, and forex.
10. Webull
About: Webull was founded within the last decade and offers a well-developed trading platform with no deposit requirements or account minimums.
Minimum to open an account: $0
Mobile app rating: 4.5
Annual account fee: $0
Customer support
Webull representatives are available via telephone and email 24/7.
Our verdict
Good for those who want to invest in crypto. Webull took the final spot on our list for its $0 account fees, competitive mobile app rating, and diverse range of investment options. For investors who are looking to dabble in cryptocurrency, Webull offers over 44 different cryptocurrencies. Its other investment options include assets like stocks, options, and ETFs.
How to choose an investment app
With so many investment apps available, and so many new ones cropping up every single day, figuring out which app you should put your funds into and invest with can be tricky. A few considerations to make that may help you narrow down your list:
- Account fees: Pay close attention to the app’s fee structure and look into monthly or annual account fees, transaction fees, and trading fees. If you’re an active trader, you may end up paying quite a bit in fees depending on your activity. In these cases you’ll likely benefit more from an app that charges minimal fees or doesn’t charge fees at all.
- The minimum amount needed to open an account: If you’re a new investor or not totally sold on the idea of investing on an app, you may not be keen on the idea of investing a ton of money upfront.
- Mobile app rating: If you’ll be investing primarily from your mobile device, you’ll want to use an app that is optimized for mobile use and will provide you with the best experience. Take the time to read up on the features available within the app and comb through user reviews to spot any potential hiccups that could impact your investing experience.
- Educational resources: For experienced investors, educational tools and webinars may not be necessary, but for newbies, it could help inform their strategy and help them make smarter choices about their investments. If you’re the kind of investor who needs a little guidance, pay special attention to the apps that provide these resources.
- Customer service options: Many apps have limited customer service options and often resort to chat or email-only customer service options. If you prefer to get a human on the phone, you’ll need to make sure that the app you’re considering offers more than just automated support and has service hours that align with your schedule.
Frequently asked questions
How much money do I need to open an account on an investment app?
Many investment apps require a certain minimum deposit, but all of our top picks leave it up to you, the investor. Whether you’re considering one of the accounts on our list or you’re looking elsewhere, read the fine print of each account to determine how much you’ll need to open an account and if you’re prepared to spend that much.
How much money should a beginner invest for the first time?
How much you invest as a beginner is ultimately up to you and your budget. Many experts recommend setting aside 15% to 25% of your post-tax income; however, this is just a rule of thumb. Run through your budget to determine how much income you have available to invest after all of your non-negotiable expenses have been taken care of. And remember, this amount can always be adjusted if there are changes in your income or financial goals.
Which assets should I invest in?
The mix of assets you choose to invest in should depend on your risk profile. When determining how much to invest in each type of asset, think carefully about your investment goals and your timeline for hitting those benchmarks, whether liquidity is important to you, and your willingness to stomach potential losses in a more volatile market.
Our methodology
The Fortune RecommendsTM team compared 26 apps and exchanges to help you find the best platform for your needs. Our top picks are available to customers in across the U.S., subject to the terms of account, product, and service. To come up with our final list, we we ranked the best apps on the following categories and weighted each category as set forth in the percentages below:
- Account minimum (30%): In order to open an account, many apps will require that you deposit a minimum dollar amount. We rated platforms with $0 or low account minimums higher on our list.
- Number of assets available to invest in (20%): We weighed the number of assets available on each platform and rewarded apps that offered a wider selection.
- Service fees (20%): Some apps charge monthly or annual maintenance fees. We ranked apps with lower (or zero) service/maintenance fees higher on the list. For companies that charges a percentage based on assets under management (AUM), we assumed an account balance of $5,000 to make an apples-to-apples comparison across the board.
- Account perks (15%): Many investment apps include extra perks and services for account holders to make managing and growing their investments easier. These may include robo-advisors, unlimited access to human advisers, fractional investing options, dividend reinvestment plans, and more. These perks varied across accounts, but we rewarded each account with one point for each offering.
- Mobile application rating (5%): We calculated the average mobile application rating for investment platforms using ratings from the App Store and Google Play. We rewarded platforms that had a higher average mobile application rating.
- Educational resources (5%): Apps that offered educational support for investors such as articles, videos, webinars, investment planning tools and calculators, and other resources ranked higher on our list compared to those that do not.
- Customer service (5%): Top picks offer customers three ways to get in contact: chat support, by phone, or even email. Among the three options, we gave phone support the most weight.
