Once you’ve decided you want to give investing a go, it can be hard to find the right place and platform to get started. I’m going to walk you through a couple of different investing apps to help give you some options.
Which investing app is best for beginners?
This isn’t a fully inclusive list of every single investing app out there. Here I’m just going to be focusing on the best mobile platforms for beginners.
So the kind of things I’m taking into account includes things like:
- Simple sign up process
- Easy-to-use investing app
- Navigation around the platform is straightforward
- Decent choice of investments without being overwhelming
Let’s take a look at some of the best investing apps around!
I’ve talked about buying stocks and shares here before because it’s a great app. It’s very simple to get started and open an account, if you join using this link we also both get a free share up to £200!
This app is lacking slightly in terms of investment research but there is still a decent choice of funds and investment trusts available. Finding your way around the app is as simple as navigating around Netflix. So even your Nan could use this!
Not only is this a great investing app for beginners, it’s also a top choice for savers. So even if you’re not quite ready to take the plunge and become an investor, Plum will help you become a better saver.
Their app can link up with you bank account and uses a fancy algorithm to assess your spending habits and automatically save money for you. Which is dead handy if you’re like me and sometimes struggle to bump up your savings.
This is technically a prepaid card rather than an investing app. Nevertheless, Revolut is really handy and a useful card to have when travelling abroad. Lots of people in Europe use the app and so it’s great for quickly sending money and spending in foreign currency.
Aside from that, their app has some decent investment choices and it’s very straightforward to buy and sell shares. This can be a really convenient option for investing if you use the app for other things because it keeps everything in one spot.
These guys just focus on investing and are really great if you don’t want to be too involved with your investments. Their app will build and manage a portfolio for you for a low fee.
The downside with Wealthify is that you don’t have much choice or control over your investments but in terms of simplicity and value - it’s a solid option if you’re just starting out. It’s easy and cheap to set up an account and the app is very tidy indeed.
Nutmeg was one of the original (OG) investing apps and they’re still a good pick. They basically brought the idea of ‘robo-advisers’ to the masses.
It’s easy to set up an account and the managed investment options are simple to understand. The only drawback here is that you need to stump up £500 to open an account which doesn’t make them accessible for some people just starting out with investing.
What investing app should I use?
This will depend completely on your goals and how you would like to invest.
The options above cover quite a range. Some require hardly any input and others give you more control over picking your investments. There’s no ‘right way’ to invest, it’s always down to your preferences.
If you can, try and use a stocks and shares ISA for your investments because this will shield your money from tax. Not all of the investing apps above include this option so be sure to check that out.
Remember that investing carries risk and you may get out less than what you put in. So these apps make it easy to get started but they don’t guarantee you’ll make money.