Investing can be a daunting task, especially for beginners. However, with the advent of user-friendly investing apps, getting started has never been easier. Whether you’re in India or the US, this guide highlights the best investing apps for beginners, detailing their top benefits and six standout features to help you make an informed choice.
Best Investing Apps for Beginners in India
1. Zerodha
Top Benefits: Zerodha is India's largest stockbroker, known for its low-cost, high-tech trading platform. It provides a comprehensive suite of tools for new investors to easily start their investment journey.
Best Features:
- Low Brokerage Fees: Offers zero brokerage on equity delivery trades and a flat fee for intraday and F&O.
- Kite Trading Platform: Advanced yet user-friendly trading platform with extensive charting tools.
- Coin: Direct mutual fund platform with no commission.
- Varsity: Extensive educational resources for learning about markets and investing.
- Smallcase: Allows investment in thematic portfolios tailored to specific sectors or trends.
- Streak: Algo trading without coding for automated strategies.
2. Groww
Top Benefits: Groww is a popular investment platform known for its simplicity and ease of use, making it ideal for beginners. It supports direct mutual fund investments and stock trading with a seamless interface.
Best Features:
- Simple Interface: Clean, intuitive design that’s easy to navigate for beginners.
- Commission-Free Investments: No commission fees on direct mutual funds.
- Stock Trading: Easy access to equity trading with competitive pricing.
- Educational Content: In-app resources to educate users on investing basics.
- SIP in Stocks: Systematic Investment Plan option for stocks, unique in the Indian market.
- Track All Investments: Consolidated view of all investments in one place.
3. Upstox
Top Benefits: Upstox offers a robust trading platform with low brokerage fees, making it a favorite among new investors looking to minimize costs while accessing a range of financial products.
Best Features:
- Low-Cost Brokerage: Competitive pricing with flat fees on trades.
- Pro Web and Pro App: Advanced trading platforms with powerful tools and charts.
- Margin Trading: Higher leverage for intraday trading.
- Mutual Funds: Direct mutual fund investments with no commission.
- GTT Orders: Good Till Triggered orders to automate trading strategies.
- Educational Resources: Access to webinars, tutorials, and market insights.
Best Investing Apps for Beginners US & Globally
1. Robinhood (Global)
Top Benefits:
Robinhood revolutionized the investing landscape by offering commission-free trading, making it an excellent choice for beginners globally. Its simple interface and accessibility have made it a favorite among new investors.
Best Features:
- Commission-Free Trades: No fees on stock, options, or ETF trades.
- User-Friendly Interface: Simple and clean design ideal for beginners.
- Fractional Shares: Invest in expensive stocks with as little as $1.
- Instant Deposits: Access your funds immediately after depositing.
- Cryptocurrency Trading: Trade popular cryptocurrencies without commission.
- Cash Management: Earn interest on uninvested cash with Robinhood’s cash management feature.
2. eToro (Global)
Top Benefits:
eToro is known for its social trading platform, which allows beginners to learn from and mimic the trades of experienced investors. It is available in many countries and offers a diverse range of assets.
Best Features:
- CopyTrading: Automatically copy the trades of successful investors.
- Diverse Asset Range: Invest in stocks, ETFs, cryptocurrencies, commodities, and more.
- Social Trading Network: Engage with a community of investors, share strategies, and insights.
- Virtual Portfolio: Practice trading with a $100,000 virtual portfolio.
- User-Friendly Interface: Intuitive design suitable for beginners.
- Educational Resources: Access webinars, tutorials, and a wealth of educational content.
3. Acorns (Global)
Top Benefits:
Acorns simplifies investing by rounding up everyday purchases and investing the spare change. This micro-investing approach makes it easy for beginners to start investing without needing large sums of money.
Best Features:
- Round-Up Feature: Automatically invests spare change from everyday purchases.
- Automatic Recurring Investments: Set up daily, weekly, or monthly investment schedules.
- Found Money: Earn extra money when you shop with Acorns' partner brands.
- Smart Portfolio: Diversified portfolios tailored to your risk tolerance.
- Educational Content: Access to a wealth of financial literacy resources.
- Retirement Accounts: Easy access to Acorns Later, an IRA for retirement savings.
4. Wealthfront (US, Expanding Globally)
Top Benefits:
Wealthfront offers automated investing and financial planning tools, making it an ideal choice for beginners who want a hands-off approach to investing.
Best Features:
- Automated Portfolio Management: Diversified portfolios managed by algorithms.
- Tax-Loss Harvesting: Automatic tax-loss harvesting to enhance returns.
- Financial Planning Tools: Robust tools for retirement, home buying, and college savings planning.
- Cash Account: High-interest cash account with no fees.
- Portfolio Line of Credit: Borrow against your portfolio at a low-interest rate.
- Path Financial Planning: Comprehensive financial planning feature to track and achieve financial goals.
5. Interactive Brokers (Global)
Top Benefits:
Interactive Brokers is known for its comprehensive platform and low trading costs. It’s suitable for beginners who plan to grow into more advanced trading strategies over time.
Best Features:
- Low Trading Costs: Competitive pricing with low fees.
- Global Market Access: Trade stocks, options, futures, forex, and more in global markets.
- Fractional Shares: Buy fractions of expensive stocks to diversify your portfolio.
- Paper Trading Account: Practice trading strategies without risking real money.
- Advanced Trading Tools: Powerful tools and analytics for when you’re ready to advance.
- Educational Resources: Extensive library of webinars, tutorials, and guides.
6. Stash (US, Expanding Globally)
Top Benefits:
Stash combines investing with banking, offering personalized guidance and fractional shares, making it ideal for beginners. Its educational tools help users enhance their financial knowledge.
Best Features:
- Fractional Shares: Buy fractional shares of your favorite companies with as little as $5.
- Smart Portfolios: Automated portfolios managed by experts.
- Banking Integration: Seamless integration with Stash banking accounts.
- Stock-Back® Card: Earn stocks as rewards for everyday purchases.
- Educational Resources: Access a library of articles and tips tailored for beginners.
- Retirement Accounts: Options for traditional and Roth IRAs.
Conclusion
Choosing the right investing app is crucial for beginners looking to enter the world of investing. The apps highlighted in this article—Zerodha, Groww, Upstox in India, and Robinhood, Acorns, Stash in the US—offer unique features and benefits tailored to new investors. By leveraging these tools, beginners can start their investment journey with confidence and ease.
